In the event the director denies the registration of a developer, acquisition agent, sales agent, OPC, plan manager, or exchange agent, the director shall notify the applicant by letter of the director's action which shall include a concise statement of the reasons therefor and if the applicant is entitled to a hearing, a statement informing the applicant of the right to a hearing if the applicant so desires.
Haw. Code R. § 16-106-9