Kalihi - Palama, Hawaii
628 N King Street
Honolulu, HI 96817
(808) 383-5253
The Most Trusted Pawn Shop in Honolulu, HI

Can You Get a Loan Through Your Local Pawn Shop? October 4, 2018

Kalihi - Palama, Honolulu
Can You Get a Loan Through Your Local Pawn Shop?, Honolulu, Hawaii

If you’re faced with an unexpected expense, help is available at your local pawn shop. With the right collateral, you can get a fast cash loan that will hold you over until the next payday. Here is a guide to getting a loan at a pawn shop. 

Putting Down Collateral

To receive a cash loan, you need to put down collateral. These are items the shop will hold until you repay the principal of your loan plus any accrued interest. If you pay off the loan as expected, the items will be returned to you. If not, they’ll be sold to cover the costs of your loan. You’ll need to use collateral that has value, such as jewelry and electronics in good condition. The more valuable your items, the higher the loan amount.

Interest Rates

PawnInterest rates vary depending on the pawn shop and the state. In Hawaii, the maximum interest that can be charged on a loan is 10%. Interest rates can be as much as 25% or as little as 3%, so make sure you fully understand these charges before you accept the loan.

Credit History

Unlike other types of loans, credit history doesn’t matter at a pawn shop. The primary concern is the value of your collateral, which offers security to the lender if you don’t repay. Also, you don’t need to worry about your credit being impacted further if you can’t repay the loan, although your collateral will be forfeited. This loan option is therefore much safer for people with poor credit histories.


When you’ve hit some hard financial times, look to A Happy Pawn for quick and easy loans. For more than three decades, these professionals have provided top-rate service to people in Honolulu, HI, offering secured loans at affordable rates. For more information on obtaining a loan, call (808) 383-5253 today. You can also learn more about the Chinatown pawn shop by checking out their website.

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