The number of Hawaii residents and businesses filing for bankruptcy fell in September to the lowest level in more than five years, according to data released Wednesday by U.S. Bankruptcy Court.

There were 153 bankruptcies filed in September, down 4.4 percent from the same month a year ago. The September total represented the smallest number of cases since February 2008 when there were 141 bankruptcy filings.

Filings fell 15.3 percent on Oahu to 94 cases in September from 111 a year earlier. Hawaii County experienced a 16.7 percent decline to 15 cases from 18 cases during the same period last year. The number of filings in Maui County rose to 32 from 25, an increase of 28 percent. Kauai County filings doubled to 12 in September from six a year earlier.

The bulk of the filings in September — 113 cases — were filed under Chapter 7 of the federal bankruptcy code, which calls for liquidation of a debtor’s assets. There were 38 filings under Chapter 13, which allows debtors to set up a plan to repay creditors over time, and two filings were under Chapter 11, which is used mostly by businesses to reorganize.

Bankruptcy filings in Hawaii have been on a downward trend since peaking at an average of 330 a month in 2010. Through the first nine months of this year, bankruptcy filings have averaged 181 a month compared with 214 a month during the same period in 2012. However, bankruptcies are still running above the pre-recession average of 115 cases a month in 2007.

The decline in Hawaii bankruptcy cases has occurred amid an improving job market and a reduction in consumer debt loads.

Hawaii consumers cut their credit card debt to an average of $5,235 in July from $7,142 in July 2012, according to the latest data available from personal finance company Credit Karma. Although Hawaii’s average credit card debt was the third highest nationally, the average credit score of 666 for Hawaii residents was tied for the top spot with Washington, D.C. Borrowers with higher credit scores represent a lower risk to the lender.