Why? HPLC is like using a 'shotgun to kill a fly'. Try using a 'fly swatter' instead. Many labs use malonic acid procedure and measure the corresponding yellow colour on a spectrophotometer at 420 nm.
The way to do an effective job with HPLC or LC/MS/MS is to derivatize the formaldehyde (and other small chain aldehydes) with a reagent like DNPH (dinitrophenyl hydrazine). This has the advantages of 1) attaching a chromophore so that spectroscopic techniques can be used for detection, 2) it increases the mass of the analyte so that LC/MS/MS can now be useful and 3) allows for chromatographic separation from sample matrix and other aldehydes, which then complements your detection choice (spectroscopy or mass spec)
Mahsa - there is a US EPA method called SW-846, Method 8315 that is designed for analysis of carbonyl compounds in water, soil/solids and wastes. The derivation process/chemistry is described in that method.
If quick and easy is a must for you, then the suggestion of headspace GC/MS may be the best choice for you as the derivatization followed by LC/MS/MS will be a little more involved.