Qualified for Sale in:

AK, AL, CA, CO, CT, DE, FL, GA, GU, HI, ID, IL, IN, KS, KY, LA, MD, NC, NV, NY, OH, OR, PA, RI, SC, TX, UT, VA, WA

Fund-Specific Risks

Consideration should be given to the risks of investing. Investments in bonds involve certain risks including a decline in value due to rising interest rates, a real or perceived decline in credit quality of the issuer, borrower, counterparty, or collateral, adverse tax or legislative changes, court decisions, market or economic conditions. Fund performance could be more volatile than that of funds with greater geographic diversification. For certain investors, some dividends may be subject to Federal and state taxes, including Alternative Minimum Tax (AMT). Please consult your professional tax advisor.

Disclosures

Please read carefully: Before investing in the Hawaiian Tax-Free Trust, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available here, from your financial advisor, or by calling 800-437-1000.

Distributions as of 12/31/2025

For the latest 30-day SEC yield, call 800-437-1000 between 9:00 A.M. and 5:00 P.M. ET on any business day. Distributions are updated Monthly.

Disclosures

Data displayed represents past performance which does not guarantee future results. Due to market conditions, current yields may be higher or lower than the yields shown. The 30-Day SEC yield is a mutual fund's yield, calculated as required by the SEC, based on the earnings of the fund's portfolio during a 30-day period, divided by the offering price per share at the end of the period. This calculation reflects an estimated yield to maturity. It should be regarded as an estimate of the fund's rate of investment income, and it may not equal the fund's actual income distribution yield. The fund's Distribution Yield is the percentage at which a mutual fund has distributed income to its shareholders. It is calculated by dividing a fund's annualized dividend amount by its current offering price.

Dividends for the Hawaiian Tax-Free Trust are declared daily and paid monthly. For shareholders who receive monthly dividends by check from BNY Mellon, the funds' shareholder servicing agent, rather than having them reinvested in additional shares or directly deposited into a bank account, we make every attempt to have monthly checks consistently arrive by the first of each month. In order to facilitate this, payments are processed and mailed prior to month-end, with the exception of December, when the dividend is declared on the 31st for tax reporting purposes. If your needs have changed and you wish to alter your investment directive from cash to reinvest, or to receive your cash dividends more efficiently through direct deposit, please call your financial professional or the fund's shareholder servicing agent at 800-437-1000.

Alternative Purchase Plans & Sales Charge Breakpoints

The fund provides individuals with alternative ways to purchase shares through four separate classes of shares (Classes A, C, F and Y). Although the classes have different sales charge structures and ongoing expenses, they all represent interests in the same portfolio of securities an investor should choose the class that best suits the investor's circumstances and needs.

Contingent Deferred Sales Charges (CDSC)

A CDSC of 1% is applied to the redemption of Class C Shares held for less than 12 months. No CDSC applies to Class C Shares acquired through the reinvestment of dividends or distributions.