Haw. Rev. Stat. § 431:10C-604: Issuance of certificate of self-insurance.

The commissioner shall issue a certificate of self-insurance if:

(1) The applicant has provided the bond, cash, or securities and proof of qualification as a self-insurer affording security substantially equivalent to that afforded under a motor vehicle insurance policy; and

(2) The commissioner is satisfied that in case of injury, death, or property damage, any claimant would have the same rights against the self-insurer as the claimant would have had if a motor vehicle insurance policy was applicable.