Haw. Rev. Stat. § 431:4-306: Mutual life insurer.

(a) When applying for a certificate of authority, a domestic mutual life insurer must:

(1) Have at least five hundred applications for life insurance, other than on the term plan for terms of ten years or less, covering at least five hundred separate insurable lives on an individual basis for a maximum insurance of not less than $5,000,000; and

(2) Have collected from each applicant the proper annual premium for one year, and have so received from all applicants premiums aggregating at least $125,000; and

(3) Have surplus over all liabilities, as at completion of issuance of the insurance contracts so applied for, amounting to not less than $600,000.

(b) In lieu of the applications, premiums, and surplus, it is required to have a surplus amounting to not less than $900,000 over all liabilities.