Last Friday, 66 eager companies awaited news on whether they were going to be awarded one of the highly sought-after Hawaii cannabis licenses.
These licenses were in such high demand because only 8 licenses were awarded throughout the entire state of Hawaii. This is how it is broken down: 3 licenses on Oahu, 2 licenses on Hawaii Island, 2 licenses on Maui and 1 license on Kauai.
The chosen cannabis companies are being encouraged to vertically integrate. License winners are allowed two production facilities and two dispensaries, and can open for patients as soon as July 15th.
There were high barriers to entry for these licenses. Applicants were required to poses $1 million in a bank account dedicated solely to the potential cannabis business and $100,000 per dispensary (limited to two for now). Additionally, the selected companies must now pay a $75,000 licensing fee to the Health Department.
In other words, Hawaii is not messing around. They wanted applicants with the capital and resources to execute cannabis production and retail successfully. The state turned down big names such as Woody Harrelson, who was among the many applicants not awarded licenses.
Here is the list of winners:
- Aloha Green Holdings Inc.
- Manoa Botanicals LLC.
- TCG Retro Market 1 LLC.
- Hawaiian Ethos LLC.
- Lau Ola LLC.
- Maui Wellness Group LLC.
- Pono Life Sciences Maui LLC.
- Green Aloha Ltd.