| Year: | 1932 |
| Team: | Hawaii Rainbows |
| Sport: | football |
| Conference: | Independent |
| Record: | 2–1–1 |
| Head Coach: | Otto Klum |
| Hc Year: | 12th |
| Stadium: | Honolulu Stadium |
The 1932 Hawaii Rainbows football team represented the University of Hawaiʻi (now known as the University of Hawaiʻi at Mānoa) as an independent during the 1932 college football season. Led by 12th-year head coach Otto Klum, the Rainbows compiled an overall record of 2–1–1.