Hawaii St Arpts System Revenue

STATE· HI· Unclaimed profile

Outstanding (EMMA est.)—

RatingsA1 Moody's · AA S&P · A+ Fitch

Last filingFeb 2026

Compiled from MSRB EMMA & public records · read-only public record · debt as of Sep 12, 2026 · latest trade Sep 11, 2026 · latest filing Feb 10, 2026

Credit ratings

agency-stated

Moody's

71 rated securities · insured

S&P

3 rated securities · insured

Fitch

A+

66 rated securities · insured

Outstanding par by rating agency and grade
Agency	Rating	Par	Share	CUSIPs
S&P	A+	$93.2M	82.2%	1
	AA	$20.2M	17.8%	2

Par-weighted mix of agency grades across the outstanding securities EMMA lists for this issuer; shares are of each agency’s rated par. A split usually reflects distinct liens or credits under one issuer, not disagreement about a single credit.

Maturity profile

par maturing by year · as of Sep 2026

Recent activity

rating actions & filings

Annual Financial Information and Operating Data filed

Feb 10, 2026 · Annual Financial Information and Operating Data: Hawaii ASRB EM…

Other Financial / Operating Data filed

Mar 13, 2025 · Other Financial / Operating Data: Annual Financial Information …

Official statement posted

Feb 24, 2025 · AIRPORTS SYSTEM REVENUE BONDS, SERIES 2025B

Annual Financial Information and Operating Data filed

Mar 15, 2024 · Annual Financial Information and Operating Data: Airports Syste…

Audited Financial Statements or ACFR filed

Mar 24, 2023 · Audited Financial Statements or ACFR: Cover Letter; The Airport…

Audited Financial Statements or ACFR filed

Mar 24, 2022 · Audited Financial Statements or ACFR: Cover Letter; The Airport…

In context

Larger than 89% of HI issuers by debt outstanding · #5 of 37

Debt overview

EMMA-derived

Outstanding par (EMMA est.)—

Securities109

Callable69%

Outstanding securities

109

Sort

Outstanding securities for Hawaii St Arpts System Revenue
CUSIP	Series / description	Coupon	Maturity	Outstanding	Ratings	First call
419794F72	HAWAII ST ARPTS SYS REV TAXABLE BDS 2020 E (HI)*	1.806%	Jul 1, 2027	$17,120,000	Moody’s A1Fitch A+	—
419794XF4	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	4.5%	Jul 1, 2027	$1,920,000	—	—
419794YK2	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	5.25%	Jul 1, 2027	—	Moody’s A1	—
419794B35	HAWAII ST ARPTS SYS REV BDS 2018 B (HI)*	4.0%	Jul 1, 2027	$520,000	Moody’s A1Fitch A+	—
419794D74	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	5.0%	Jul 1, 2027	$1,725,000	Moody’s A1Fitch A+	—
419794XG2	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	5.25%	Jul 1, 2027	$18,480,000	—	—
419794B27	HAWAII ST ARPTS SYS REV BDS 2018 B (HI)*	5.0%	Jul 1, 2027	$8,605,000	Moody’s A1Fitch A+	—
419794ZQ8	REF-SER C	3.58%	Jul 1, 2028	$93,175,000	Moody’s A1S&P A+	—
419794XJ6	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	5.25%	Jul 1, 2028	$20,810,000	—	—
419794D82	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	5.0%	Jul 1, 2028	$1,715,000	Moody’s A1Fitch A+	—
419794ZR6	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2028	$9,800,000	Moody’s A1Fitch A+	—
419794XH0	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	4.6%	Jul 1, 2028	$650,000	—	—
419794F80	HAWAII ST ARPTS SYS REV TAXABLE BDS 2020 E (HI)*	2.13%	Jul 1, 2028	$15,940,000	Moody’s A1Fitch A+	—
419794XK3	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	4.7%	Jul 1, 2029	$860,000	—	—
419794F98	HAWAII ST ARPTS SYS REV TAXABLE BDS 2020 E (HI)*	2.23%	Jul 1, 2029	$16,280,000	Moody’s A1Fitch A+	—
419794B43	HAWAII ST ARPTS SYS REV BDS 2018 D (HI)*	5.0%	Jul 1, 2029	$20,185,000	Moody’s A1Fitch A+	—
419794ZS4	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2029	$10,750,000	Moody’s A1Fitch A+	July 1, 2028
419794D90	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	5.0%	Jul 1, 2029	$1,980,000	Moody’s A1Fitch A+	—
419794XL1	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	5.25%	Jul 1, 2029	$21,710,000	—	—
419794C26	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	5.0%	Jul 1, 2030	$2,920,000	Moody’s A1Fitch A+	—
419794XN7	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	5.25%	Jul 1, 2030	$23,590,000	—	—
419794B50	HAWAII ST ARPTS SYS REV BDS 2018 D (HI)*	5.0%	Jul 1, 2030	$21,935,000	Moody’s A1Fitch A+	—
419794ZT2	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2030	$11,280,000	Moody’s A1Fitch A+	July 1, 2028
419794XM9	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	4.8%	Jul 1, 2030	$165,000	—	—
419794E24	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	5.0%	Jul 1, 2030	$1,340,000	Moody’s A1Fitch A+	—
419794G22	HAWAII ST ARPTS SYS REV TAXABLE BDS 2020 E (HI)*	2.33%	Jul 1, 2030	$13,725,000	Moody’s A1Fitch A+	—
419794B68	HAWAII ST ARPTS SYS REV BDS 2018 D (HI)*	5.0%	Jul 1, 2031	$23,210,000	Moody’s A1Fitch A+	July 1, 2030
419794C34	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	5.0%	Jul 1, 2031	$17,110,000	Moody’s A1Fitch A+	July 1, 2030
419794E32	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	5.0%	Jul 1, 2031	$1,235,000	Moody’s A1Fitch A+	July 1, 2030
419794ZU9	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2031	$11,840,000	Moody’s A1Fitch A+	July 1, 2028
419794C42	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	5.0%	Jul 1, 2032	$17,965,000	Moody’s A1Fitch A+	July 1, 2030
419794B76	HAWAII ST ARPTS SYS REV BDS 2018 D (HI)*	5.0%	Jul 1, 2032	$24,365,000	Moody’s A1Fitch A+	July 1, 2030
419794ZV7	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2032	$12,435,000	Moody’s A1Fitch A+	July 1, 2028
419794E40	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	5.0%	Jul 1, 2032	$1,300,000	Moody’s A1Fitch A+	July 1, 2030
419794B84	HAWAII ST ARPTS SYS REV BDS 2018 D (HI)*	5.0%	Jul 1, 2033	$25,590,000	Moody’s A1Fitch A+	July 1, 2030
419794C59	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	5.0%	Jul 1, 2033	$18,865,000	Moody’s A1Fitch A+	July 1, 2030
419794ZW5	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2033	$13,050,000	Moody’s A1Fitch A+	July 1, 2028
419794E57	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	5.0%	Jul 1, 2033	$1,365,000	Moody’s A1Fitch A+	July 1, 2030
419794B92	HAWAII ST ARPTS SYS REV BDS 2018 D (HI)*	5.0%	Jul 1, 2034	$26,865,000	Moody’s A1Fitch A+	July 1, 2030
419794YG1	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	5.0%	Jul 1, 2034	—	Moody’s A1	—
419794C67	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	5.0%	Jul 1, 2034	$19,805,000	Moody’s A1Fitch A+	July 1, 2030
419794ZX3	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2034	$13,710,000	Moody’s A1Fitch A+	July 1, 2028
419794XP2	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	5.0%	Jul 1, 2034	$107,785,000	—	—
419794E65	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	5.0%	Jul 1, 2034	$1,430,000	Moody’s A1Fitch A+	July 1, 2030
419794C75	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	4.0%	Jul 1, 2035	$20,795,000	Moody’s A1Fitch A+	July 1, 2030
419794ZY1	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2035	$12,205,000	Moody’s A1Fitch A+	July 1, 2028
419794E73	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	4.0%	Jul 1, 2035	$31,900,000	Moody’s A1Fitch A+	July 1, 2030
419794J52	HAWAII ST ARPTS SYS REV BDS 2025B (HI)*	5.0%	Jul 1, 2036	$11,680,000	—	July 1, 2035
419794C83	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	4.0%	Jul 1, 2036	$1,330,000	Moody’s A1Fitch A+	July 1, 2030
419794G55	HAWAII ST ARPTS SYS REV AMT BDS 2022 A (HI)*	5.0%	Jul 1, 2036	$8,620,000	Moody’s A1Fitch A+	July 1, 2032
419794E81	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	4.0%	Jul 1, 2036	$33,170,000	Moody’s A1Fitch A+	July 1, 2030
419794ZZ8	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2036	$12,820,000	Moody’s A1Fitch A+	July 1, 2028
419794C91	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	4.0%	Jul 1, 2037	$1,385,000	Moody’s A1Fitch A+	July 1, 2030
419794A28	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2037	$13,450,000	Moody’s A1Fitch A+	July 1, 2028
419794E99	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	4.0%	Jul 1, 2037	$34,505,000	Moody’s A1Fitch A+	July 1, 2030
419794G63	HAWAII ST ARPTS SYS REV AMT BDS 2022 A (HI)*	5.0%	Jul 1, 2037	$9,050,000	Moody’s A1Fitch A+	July 1, 2032
419794J60	HAWAII ST ARPTS SYS REV BDS 2025B (HI)*	5.0%	Jul 1, 2037	$12,265,000	—	July 1, 2035
419794G71	HAWAII ST ARPTS SYS REV AMT BDS 2022 A (HI)*	5.0%	Jul 1, 2038	$9,500,000	Moody’s A1Fitch A+	July 1, 2032
419794A36	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2038	$14,130,000	Moody’s A1Fitch A+	July 1, 2028
419794J78	HAWAII ST ARPTS SYS REV BDS 2025B (HI)*	5.0%	Jul 1, 2038	$12,880,000	—	July 1, 2035
419794F23	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	4.0%	Jul 1, 2038	$35,880,000	Moody’s A1Fitch A+	July 1, 2030
419794D25	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	4.0%	Jul 1, 2038	$1,440,000	Moody’s A1Fitch A+	July 1, 2030
419794F31	HAWAII ST ARPTS SYS REV BDS 2020D (HI)*	4.0%	Jul 1, 2039	$37,310,000	Moody’s A1Fitch A+	July 1, 2030
419794YJ5	SER A-AGM-CR	5.1%	Jul 1, 2039	—	—	—
419794YH9	SER A-AGM-CR	5.0%	Jul 1, 2039	—	—	—
419794XR8	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	5.0%	Jul 1, 2039	$148,620,000	—	—
419794J86	HAWAII ST ARPTS SYS REV BDS 2025B (HI)*	5.0%	Jul 1, 2039	$13,520,000	—	July 1, 2035
419794G89	HAWAII ST ARPTS SYS REV AMT BDS 2022 A (HI)*	4.0%	Jul 1, 2039	$9,975,000	Moody’s A1Fitch A+	July 1, 2032
419794XQ0	HAWAII ST ARPTS SYS REV REV BDS 2010A (HI)*	5.1%	Jul 1, 2039	$19,355,000	—	—
419794D33	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	4.0%	Jul 1, 2039	$1,500,000	Moody’s A1Fitch A+	July 1, 2030
419794H96	AMT-SER A-BAM-TCRS	4.0%	Jul 1, 2040	$10,375,000	Moody’s A1S&P AA	July 1, 2040
419794D41	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	4.0%	Jul 1, 2040	$1,555,000	Moody’s A1Fitch A+	July 1, 2030
419794J94	HAWAII ST ARPTS SYS REV BDS 2025B (HI)*	5.0%	Jul 1, 2040	$12,845,000	—	July 1, 2035
419794G97	HAWAII ST ARPTS SYS REV AMT BDS 2022 A (HI)*	4.0%	Jul 1, 2040	$10,375,000	Moody’s A1Fitch A+	July 1, 2032
419794L67	HAWAII ST ARPTS SYS REV BDS 2025D (HI)*	5.0%	Jul 1, 2040	$8,060,000	—	July 1, 2035
419794K84	HAWAII ST ARPTS SYS REV BDS 2025C (HI)*	5.0%	Jul 1, 2040	$24,630,000	—	July 1, 2035
419794J29	AMT-SER A-BAM-TCRS	4.0%	Jul 1, 2041	$9,795,000	Moody’s A1S&P AA	July 1, 2041
419794K92	HAWAII ST ARPTS SYS REV BDS 2025C (HI)*	5.0%	Jul 1, 2041	$25,860,000	—	July 1, 2035
419794H21	HAWAII ST ARPTS SYS REV AMT BDS 2022 A (HI)*	4.0%	Jul 1, 2041	$10,795,000	Moody’s A1Fitch A+	July 1, 2032
419794K27	HAWAII ST ARPTS SYS REV BDS 2025B (HI)*	5.0%	Jul 1, 2041	$13,480,000	—	July 1, 2035
419794ZN5	HAWAII ST ARPTS SYS REV REV BDS A (HI)*	5.0%	Jul 1, 2041	$70,865,000	Moody’s A1Fitch A+	—
419794L75	HAWAII ST ARPTS SYS REV BDS 2025D (HI)*	5.0%	Jul 1, 2041	$8,465,000	—	July 1, 2035
419794K35	HAWAII ST ARPTS SYS REV BDS 2025B (HI)*	5.0%	Jul 1, 2042	$14,165,000	—	July 1, 2035
419794H39	HAWAII ST ARPTS SYS REV AMT BDS 2022 A (HI)*	5.0%	Jul 1, 2042	$11,225,000	Moody’s A1Fitch A+	July 1, 2032
419794L83	HAWAII ST ARPTS SYS REV BDS 2025D (HI)*	5.0%	Jul 1, 2042	$8,880,000	—	July 1, 2035
419794L26	HAWAII ST ARPTS SYS REV BDS 2025C (HI)*	5.0%	Jul 1, 2042	$27,155,000	—	July 1, 2035
419794K43	HAWAII ST ARPTS SYS REV BDS 2025B (HI)*	5.0%	Jul 1, 2043	$14,870,000	—	July 1, 2035
419794A44	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2043	$94,355,000	Moody’s A1Fitch A+	July 1, 2028
419794L34	HAWAII ST ARPTS SYS REV BDS 2025C (HI)*	5.0%	Jul 1, 2043	$28,515,000	—	July 1, 2035
419794L91	HAWAII ST ARPTS SYS REV BDS 2025D (HI)*	5.0%	Jul 1, 2043	$9,330,000	—	July 1, 2035
419794L42	HAWAII ST ARPTS SYS REV BDS 2025C (HI)*	5.0%	Jul 1, 2044	$29,940,000	—	July 1, 2035
419794K50	HAWAII ST ARPTS SYS REV BDS 2025B (HI)*	5.0%	Jul 1, 2044	$15,610,000	—	July 1, 2035
419794M25	HAWAII ST ARPTS SYS REV BDS 2025D (HI)*	5.0%	Jul 1, 2044	$9,795,000	—	July 1, 2035
419794ZL9	HAWAII ST ARPTS SYS REV REV BDS A (HI)*	5.0%	Jul 1, 2045	$162,585,000	Moody’s A1Fitch A+	—
419794M33	HAWAII ST ARPTS SYS REV BDS 2025D (HI)*	5.0%	Jul 1, 2045	$9,860,000	—	July 1, 2035
419794ZM7	HAWAII ST ARPTS SYS REV REV BDS A (HI)*	4.125%	Jul 1, 2045	$1,685,000	Moody’s A1Fitch A+	July 1, 2025
419794K68	HAWAII ST ARPTS SYS REV BDS 2025B (HI)*	5.0%	Jul 1, 2045	$16,400,000	—	July 1, 2035
419794D58	HAWAII ST ARPTS SYS REV BDS 2020 A (HI)*	4.0%	Jul 1, 2045	$8,470,000	Moody’s A1Fitch A+	July 1, 2030
419794ZP0	HAWAII ST ARPTS SYS REV REV BDS B (HI)*	4.0%	Jul 1, 2045	$9,125,000	Moody’s A1Fitch A+	July 1, 2025
419794L59	HAWAII ST ARPTS SYS REV BDS 2025C (HI)*	5.0%	Jul 1, 2045	$30,175,000	—	July 1, 2035
419794H47	HAWAII ST ARPTS SYS REV AMT BDS 2022 A (HI)*	4.0%	Jul 1, 2047	$11,000,000	Moody’s A1Fitch A+	July 1, 2032
419794H54	HAWAII ST ARPTS SYS REV AMT BDS 2022 A (HI)*	5.0%	Jul 1, 2047	$49,790,000	Moody’s A1Fitch A+	July 1, 2032
419794A51	HAWAII ST ARPTS SYS REV BDS 2018 A (HI)*	5.0%	Jul 1, 2048	$158,735,000	Moody’s A1Fitch A+	July 1, 2028
419794K76	HAWAII ST ARPTS SYS REV BDS 2025B (HI)*	5.0%	Jul 1, 2049	$156,890,000	—	July 1, 2035
419794D66	HAWAII ST ARPTS SYS REV BDS 2020C (HI)*	5.0%	Jul 1, 2050	$20,295,000	Moody’s A1Fitch A+	July 1, 2030
419794F49	HAWAII ST ARPTS SYS REV TAXABLE BDS 2020 B (HI)*	3.484%	Jul 1, 2050	$165,885,000	Moody’s A1Fitch A+	July 1, 2030
419794H62	HAWAII ST ARPTS SYS REV AMT BDS 2022 A (HI)*	5.0%	Jul 1, 2051	$78,950,000	Moody’s A1Fitch A+	July 1, 2032
419794J37	HAWAII ST ARPTS SYS REV BDS 2025A (HI)*	5.25%	Jul 1, 2051	$135,830,000	—	July 1, 2035
419794J45	HAWAII ST ARPTS SYS REV BDS 2025A (HI)*	5.5%	Jul 1, 2054	$197,435,000	—	July 1, 2035

Market activity

EMMA · secondary trades · latest Sep 11, 2026

Each dot is a reported secondary trade — yield by trade date, sized by par, colored by trade side. Hover for detail.

Trade dateSecurityPriceYieldSizeSide

Sep 11 419794B68 104.51 3.72% 10,000 Customer Sold

Sep 11 419794B68 104.91 3.60% 10,000 Inter-Dealer Trade

Sep 11 419794C59 103.56 3.98% 40,000 Customer Bought

Sep 11 419794C59 103.56 3.98% 30,000 Customer Bought

Sep 11 419794B68 105.44 3.46% 55,000 Customer Sold

Sep 11 419794C34 104.39 3.75% 55,000 Customer Bought

Trade prints reported to the MSRB — a live market signal a manual issuer page cannot show.

20 callable securities carry a stated call price — refunding candidates as rates move.

Recent rating actions

Moody's · S&P · Fitch · KBRA

S&P STATE OF HAWAII DEPARTMENT OF TRANSPORTATION AIRPORTS DIVISION Airport System Customer Facility Charge Lease Revenue Revenue Bonds …

Sep 25, 2020

Outlook AA- → A+

View the filing on EMMA ↗

Rating actions as disclosed by the issuer to the MSRB’s EMMA system under SEC Rule 15c2-12; the ratings are the opinions of the respective rating agencies (Moody's, S&P Global Ratings, Fitch Ratings, KBRA). Dates are the rating-action dates stated in each notice.

Financial summary

FY2023 · income statement

Total revenues

$490.2M

−

Total costs & deductions

$366.1M

Surplus (change in net position)

$124.1M

✓ Anchored on the reported total revenues and change in net position; the bridge folds nonoperating & interest items into total costs. · As reported, FY2023 financial statements PDF p.35.

Where the money goes

FY2023 · operating expenses · $560.2M

33.6%

Depreciation

$188.2M

19.4%

Salaries and wages

$108.8M

17.3%

Other personnel services

$97.0M

10.7%

Repairs and maintenance

$60.1M

9.2%

Utilities

$51.4M

3.1%

State of Hawaii surcharge on gross receipts

$17.5M

2.1%

Materials and supplies

$11.8M

1.5%

Miscellaneous

$8.6M

1.5%

Department of Transportation general administration expenses

$8.5M

0.8%

Workers' compensation and other insurance claims

$4.6M

0.6%

Insurance

$3.5M

As reported, FY2023 financial statements PDF p.35.

Hawaii St Arpts System Revenue

Credit ratings

Maturity profile

Recent activity

Debt overview

Debt service

Outstanding securities

Market activity

Recent rating actions

Financial summary

Where the money goes

Document library

Disclosure record

Standing

Credentials on record

Dated obligations

Record quality

Frequently asked questions