In this paper, we use a new method to derive hyperasymptotic expansions for the modified Bessel function of the third kind of purely imaginary order. Our approach is based on the method of Hadamard-series expansion developed by Paris (Proc. Roy. Soc. Lond. A457 (2001), 2855–2869). Modifications are made to deal with the presence of an infinite number of saddle points, and numerical computation is used to illustrate the accuracy of our results.