Haw. Rev. Stat. § 304A-2160

There is established a special fund to be known as the state higher education loan fund. The fund shall be a revolving fund and all interest and payments received on account of principal shall be credited to the fund. The fund shall be administered by the board of regents and shall be disbursed to needy students that meet eligibility requirements under section [304A-601] pursuant to rules adopted by the board.