The Hydrogen Intensity and Real-time Analysis eXperiment (HIRAX) is a radio interferometer array currently in development, with an initial 256-element array to be deployed at the South African Radio Astronomy Observatory (SARAO) Square Kilometer Array (SKA) site in South Africa. Each of the 6m, f/0.23 dishes will be instrumented with dual-polarisation feeds operating over a frequency range of 400-800 MHz. Through intensity mapping of the 21 cm emission line of neutral hydrogen, HIRAX will provide a cosmological survey of the distribution of large-scale structure over the redshift range from 0.775 to 2.55 over 15,000 square degrees of the southern sky. The statistical power of such a survey is sufficient to produce 7 percent constraints on the dark energy equation of state parameter when combined with measurements from the Planck satellite. Additionally, HIRAX will provide a highly competitive platform for radio transient and HI absorber science while enabling a multitude of cross-correlation studies. In this paper, we describe the science goals of the experiment, overview of the design and status of the sub-components of the telescope system, and describe the expected performance of the initial 256-element array as well as the planned future expansion to the final, 1024-element array.