Hyundai Marine & Fire is raising rates on its Hawaii homeowners book, with a 22.9% overall increase headlining a broader tightening of the program.

The filing, made through program manager Hawaiian Hurricane Group, carries a 20% base rate hike as its biggest lever, but the indicated change runs far higher at 58.2% — meaning the carrier is taking less than half of what its own analysis says it needs. The increase affects 2,463 policyholders and about $2.4 million in written premium, adding roughly $551,000 in premium. Individual policies can move as much as 53%. New business takes effect October 1, 2026, renewals October 15.

The rate number is only part of the story. Hyundai is also reshaping what the policy actually pays out. A new Roof Surfaces Payment Schedule Endorsement swaps replacement cost for an age-based depreciation schedule on windstorm and hail roof losses: roofs four years and younger still get 100%, but value steps down from year five, bottoming at 50% for composition, built-up, and asphalt shingles at 30-plus years (62.5% for wood shake, 70% for tile, 80% for metal and slate). The endorsement is mandatory once a roof passes 14 years (24 for tile, slate, or metal).

Rounding out the changes: a new solar panel surcharge ($50 for up to 10 panels, $100 above that), a higher minimum deductible of $1,500, removal of the plumbing and electrical utility-update credits, and a new $30 NSF fee.

Bottom Line: This is what hardening looks like in a cat-exposed market when a carrier can’t get the full rate it wants. Hyundai filed for 22.9% but signaled it needs 58.2% — so it’s pairing a partial rate increase with coverage cuts that do the rest of the work quietly.