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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 9
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SIGNATURE ROBERT ANDERSON
TITLE COMPLIANCE OFFICER
[ARTICLE] 6
[LEGEND]
This schedule contains summary financial information extracted from the
Registrant's Annual Report dated March 31, 1999 and is qualified
in its entirety by the reference to such Financial Statements.
[CIK] 0000750909
[NAME] HAWAIIAN TAX-FREE TRUST
[SERIES]
[NUMBER] 001
[NAME] CLASS A SHARES
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] MAR-31-1999
[PERIOD-END] MAR-31-1999
[INVESTMENTS-AT-COST] 612,978,084
[INVESTMENTS-AT-VALUE] 651,077,558
[RECEIVABLES] 10,891,853
[ASSETS-OTHER] 9,842
[OTHER-ITEMS-ASSETS] 1,179,552
[TOTAL-ASSETS] 663,158,805
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 9,704,046
[TOTAL-LIABILITIES] 9,704,046
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 612,274,622
[SHARES-COMMON-STOCK] 54,925,041
[SHARES-COMMON-PRIOR] 55,526,011
[ACCUMULATED-NII-CURRENT] 2,080,663
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 3,754,815
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 38,099,474
[NET-ASSETS] 640,131,345
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 35,852,271
[OTHER-INCOME] 0
[EXPENSES-NET] 4,600,311
[NET-INVESTMENT-INCOME] 31,251,960
[REALIZED-GAINS-CURRENT] 6,224,420
[APPREC-INCREASE-CURRENT] (4,388,807)
[NET-CHANGE-FROM-OPS] 33,087,573
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 30,842,372
[DISTRIBUTIONS-OF-GAINS] 2,577,865
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 3,332,950
[NUMBER-OF-SHARES-REDEEMED] 5,443,402
[SHARES-REINVESTED] 1,509,482
[NET-CHANGE-IN-ASSETS] (2,968,469)
[ACCUMULATED-NII-PRIOR] 2,104,413
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 912,501
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 4,867,589
[AVERAGE-NET-ASSETS] 641,347,096
[PER-SHARE-NAV-BEGIN] 11.67
[PER-SHARE-NII] .56
[PER-SHARE-GAIN-APPREC] .03
[PER-SHARE-DIVIDEND] .57
[PER-SHARE-DISTRIBUTIONS] .04
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 11.65
[EXPENSE-RATIO] .74
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[LEGEND]
This schedule contains summary financial information extracted from the
Registrant's Annual Report dated March 31, 1999 and is qualified
in its entirety by reference to such Financial Statements.
[CIK] 0000750909
[NAME] HAWAIIAN TAX-FREE TRUST
[SERIES]
[NUMBER] 002
[NAME] CLASS C SHARES
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] MAR-31-1999
[PERIOD-END] MAR-31-1999
[INVESTMENTS-AT-COST] 612,978,084
[INVESTMENTS-AT-VALUE] 651,077,558
[RECEIVABLES] 10,891,853
[ASSETS-OTHER] 9,842
[OTHER-ITEMS-ASSETS] 1,179,552
[TOTAL-ASSETS] 663,158,805
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 9,704,046
[TOTAL-LIABILITIES] 9,704,046
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 612,274,622
[SHARES-COMMON-STOCK] 921,588
[SHARES-COMMON-PRIOR] 618,535
[ACCUMULATED-NII-CURRENT] 2,080,663
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 3,754,815
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 38,099,474
[NET-ASSETS] 10,735,753
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 35,852,271
[OTHER-INCOME] 0
[EXPENSES-NET] 4,600,311
[NET-INVESTMENT-INCOME] 31,251,960
[REALIZED-GAINS-CURRENT] 6,224,420
[APPREC-INCREASE-CURRENT] (4,388,807)
[NET-CHANGE-FROM-OPS] 33,087,573
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 339,240
[DISTRIBUTIONS-OF-GAINS] 37,852
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 421,329
[NUMBER-OF-SHARES-REDEEMED] 135,233
[SHARES-REINVESTED] 16,958
[NET-CHANGE-IN-ASSETS] (2,968,469)
[ACCUMULATED-NII-PRIOR] 2,104,413
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 912,501
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 4,867,589
[AVERAGE-NET-ASSETS] 8,474,569
[PER-SHARE-NAV-BEGIN] 11.66
[PER-SHARE-NII] .46
[PER-SHARE-GAIN-APPREC] .05
[PER-SHARE-DIVIDEND] .48
[PER-SHARE-DISTRIBUTIONS] .04
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 11.65
[EXPENSE-RATIO] 1.53
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[LEGEND]
This schedule contains summary financial information extracted from the
Registrant's Annual Report dated March 31, 1999 and is qualified
in its entirety by reference to such Financial Statements.
[CIK] 0000750909
[NAME] HAWAIIAN TAX-FREE TRUST
[SERIES]
[NUMBER] 003
[NAME] CLASS Y SHARES
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] MAR-31-1999
[PERIOD-END] MAR-31-1999
[INVESTMENTS-AT-COST] 612,978,084
[INVESTMENTS-AT-VALUE] 651,077,558
[RECEIVABLES] 10,891,853
[ASSETS-OTHER] 9,842
[OTHER-ITEMS-ASSETS] 1,179,552
[TOTAL-ASSETS] 663,158,805
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 9,704,046
[TOTAL-LIABILITIES] 9,704,046
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 612,274,622
[SHARES-COMMON-STOCK] 221,742
[SHARES-COMMON-PRIOR] 109,418
[ACCUMULATED-NII-CURRENT] 2,080,663
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 3,754,815
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 38,099,474
[NET-ASSETS] 2,587,661
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 35,852,271
[OTHER-INCOME] 0
[EXPENSES-NET] 4,600,311
[NET-INVESTMENT-INCOME] 31,251,960
[REALIZED-GAINS-CURRENT] 6,224,420
[APPREC-INCREASE-CURRENT] (4,388,807)
[NET-CHANGE-FROM-OPS] 33,087,573
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 99,082
[DISTRIBUTIONS-OF-GAINS] 9,383
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 103,622
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 8,702
[NET-CHANGE-IN-ASSETS] (2,968,469)
[ACCUMULATED-NII-PRIOR] 2,104,413
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 912,501
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 4,867,589
[AVERAGE-NET-ASSETS] 1,981,239
[PER-SHARE-NAV-BEGIN] 11.68
[PER-SHARE-NII] .59
[PER-SHARE-GAIN-APPREC] .03
[PER-SHARE-DIVIDEND] .59
[PER-SHARE-DISTRIBUTIONS] .04
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 11.67
[EXPENSE-RATIO] .54
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
The Board of Trustees of
Hawaiian Tax-Free Trust:
In planning and performing our audit of the financial statements
of Hawaiian Tax-Free Trust for the year ended March 31, 1999, we
considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form N-SAR,
not to provide assurance on the internal control.
The management of the Hawaiian Tax-Free Trust is responsible
for establishing and maintaining internal control. In fulfilling
this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial statements
for external purposes that are fairly presented in conformity with
generally accepted accounting principles. Those controls include
the safeguarding of assets against unauthorized acquisition, use, or
disposition.
Because of inherent limitations in internal control, error or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to
the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants. A material weakness is a
condition in which the design or operation of one or more of
the internal control components does not reduce to a relative
low level the risk that misstatements caused by error or fraud
in amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above as of March 31, 1999.
This report is intended solely for the information and use of
management and the Securities and Exchange Commission.
/s/ KPMG LLP
- -------------
New York, New York
April 27, 1999
