The Hilo High School Foundation annually provides the school with the interest earnings for distribution to programs. A committee designated by the Principal solicits and reviews proposals from faculty for new and innovative programs that benefit the educational experience of Hilo High School students.

To date, the Foundation has distributed a total of over $130,000 to Hilo High School. Programs receiving funding include: Project Ho'olokahi, a program that integrated math, science, history and cultural studies into a hands-on sailing experience on the Makali'i; "So You Want a Job?" project coordinated with the Hilton Waikoloa Hotel for employability skills exposure and job shadowing; Aloha 'Aina, a project which developed a solar powered mobile generator, aquaculture/permaculture research and an ecologically self-sustaining habitat on campus. In addition support has been provided for intramurals, French, 9th grade team, environmental science nursery, and photography programs.