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Ring in the New Year: Minimum Wage Soars to $14 on January 1!

Minimum wage to increase to $14 on Jan. 1 (Photo: Cilpart max.com)

According to Act 114, Session Laws of Hawaiʻi (2022), the minimum wage will rise to $14 per hour on January 1, 2024, as declared by the Hawaiʻi State Department of Labor and Industrial Relations (DLIR). Act 114 raises the minimum wage to $16 starting Jan. 1, 2026, and $18 starting Jan. 1, 2028.

Minimum wage to increase to $14 on Jan. 1 (Photo: Big Stock)

READ ALSO: 2024 Payday Revolution: Americans Set For Tax Bracket Overhaul – Will Your Wallet Rejoice?

Safeguarding Workers and Exploring Tip Credit Adjustments in the Minimum Wage Law

The director of the Department of Labor and Industrial Relations (DLIR), Jade T. Butay, says that the minimum wage rule is very important for protecting workers’ health, productivity, and general well-being. It sets a minimum wage to make sure that workers are fairly compensated for their work and protects against the risk of unfairly low pay.

An extra charge will be made on January 1, 2024, when the tip amount will be raised. Workers who get tips will be able to get $1.25 less than the minimum pay. On January 1, 2028, this difference will grow to $1.50. However, companies must make sure that the total amount of money an employee makes from work and tips is at least $7.00 more than the current minimum pay.

Within the limits of the minimum wage rule, this change is part of an ongoing attempt to meet the needs of both employers and workers.

READ ALSO: Social Security 2024 Will Have Increase Amount – From $4,555 To $4,873

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