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The Department of Budget and Finance prepares Thống đốc's executive budget, manages the state's financial accounts and debt, administers employee benefit programs including the Employees' Retirement System, and oversees the State's financial management systems. It coordinates the budget process across all state departments and provides financial analysis to support executive branch decision-making. The department's debt management decisions affect Hawaii's bond ratings and borrowing costs.

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The department's budget development process determines how much money goes to schools, healthcare, housing, and other state programs that affect residents daily. State employees and retirees are directly affected by the department's administration of retirement and benefit programs.

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