What was the original intent of Act 221?
The legislature’s intent with Act 221 was to motivate Hawaii high net worth investors to turn their attention to investments in our growing tech sector with an eye toward diversifying the economy. It was also expected that Act 221 would attract outside investment that has been lacking in the state: offer new opportunities to keep Hawaii’s bright young people here and lure those who have left back home. Because of Act 221, Hawaii’s young people have begun to see opportunities right in their own back yards – opportunities to become engineers, scientists, analysts, to work on clean, “green” energy systems, to make a better world for everyone. In short, it has done everything – and more – the legislature hoped it would.