| Year: | 1940 |
| Team: | Hawaii Rainbows |
| Sport: | football |
| Conference: | Independent |
| Record: | 2–5 |
| Head Coach: | Eugene Gill |
| Hc Year: | 1st |
| Stadium: | Honolulu Stadium |
| Bowl: | Pineapple Bowl |
| Bowl Result: | L 0–3 vs. Fresno State |
The 1940 Hawaii Rainbows football team represented the University of Hawaiʻi (now known as the University of Hawaiʻi at Mānoa) as an independent during the 1940 college football season. Led by first-year head coach Eugene Gill, the Rainbows compiled an overall record of 2–5.