He made the announcement Monday, citing recruiting considerations and the recent changes in the Bulldogs coaching staff.
Richt has two staff positions to fill after defensive coordinator Brian Van Gorder and running backs coach Ken Rucker accepted jobs elsewhere, VanGorder with the Jacksonville Jaguars and Rucker at Texas.
"With the coaching changes we've just had combined with the recruiting considerations so close to signing day, I felt my first obligation was to those issues," said Richt. "I am deeply grateful for the opportunity to coach in the Hula Bowl game but the timing and recent developments made it preferable for me to remain at home."
The North will be guided by Oregon's Mike Bellotti.
The contest will be played Saturday in Honolulu.