Taylor, who works as a bartender at Lisa Vanderpump's SUR Restaurant, spent the night in jail after being caught with the expensive shades, officers told TMZ.
PEOPLE was unable to reach the Honolulu Police Department for comment.
According to the website, the 36-year-old was busted taking the sunglasses from a store just a block away from The Modern Honolulu hotel, where he was staying, and charged with a felony theft.
Felony theft, or, theft in the third degree, means the property value exceeds $300 and can lead to a prison term of up to 10 years.
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Taylor was vacationing in Hawaii with his girlfriend Brittany Cartwright. The star actively documented the trip on social media throughout last week, and also shared several images on Friday, the day of his alleged arrest.
"#tb to #hawaii with my little one @bncartwright," he wrote of a pool image with Cartwright.