Haw. Rev. Stat. § 514E-23: Requirements for trustees.

If time share units are conveyed to a trustee pursuant to section 514E-19, the following requirements shall be met:

(1) The trustee must be a bank, savings and loan association, or a trust company meeting the requirements of any rules adopted by the director pursuant to chapter 91.

(2) The trustee must at all times:

(A) Maintain fidelity bonds in a form approved by the director in such amounts and providing coverage as required by rules adopted by the director pursuant to chapter 91; and

(B) Maintain a policy of errors and omissions insurance in a form approved by the director in such amounts and providing coverage as required by rules adopted by the director pursuant to chapter 91.