A rule adopted or order issued under this chapter may exempt a security, transaction, or offer; a rule under this chapter may exempt a class of securities, transactions, or offers from any or all of the requirements of sections 485A-301 to 485A-305 and 485A-504; and an order under this chapter may waive, in whole or in part, any or all of the conditions for an exemption or offer under sections 485A-201 and 485A-202.
HRS § 485A-203