UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

FORM 8-K
 
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 	 	 	 	 	
 	Date of Report	 	 	
 	(Date of earliest event reported)	 	                       January 26, 2015	 	
 
BANK OF HAWAII CORPORATION
(Exact name of registrant as specified in its charter)

 	 	 	 	 	
Delaware	 	1-6887	 	99-0148992	
(State of Incorporation)	 	(Commission	 	(IRS Employer	
 	 	File Number)	 	Identification No.)	

 	 	 	
130 Merchant Street, Honolulu, Hawaii	 	96813	
(Address of principal executive offices)	 	(Zip Code)	

 	 	 	 	
(Registrant's telephone number,	 	 	
including area code)	 	 	(888) 643-3888	

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Item 2.02.                                       Results of Operations and Financial Condition.
 
On January 26, 2015, Bank of Hawaii Corporation announced its results of operations for the quarter ended December 31, 2014.  The public announcement was made by means of a press release, the text of which is furnished as Exhibit 99.1 hereto and incorporated herein by reference.

Item 9.01.                                       Financial Statements and Exhibits.

(d)	Exhibits	
 
Exhibit No.
 
99.1          January 26, 2015 Press Release: Bank of Hawaii Corporation Fourth Quarter 2014 Financial Results.  Any internet addresses provided in this release are for informational purposes only and are not intended to be hyperlinks.  Furnished herewith.

Signatures
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 	
 	 	 	
Date: January 26, 2015	Bank of Hawaii Corporation	

 	By:	/s/ Mark A. Rossi	
 	 	     Mark A. Rossi	
 	 	     Vice Chairman and Corporate Secretary	

 	

 	 	

Bank of Hawaii Corporation 2014 Financial Results
 	 	
•	Diluted Earnings Per Share for the Fourth Quarter of 2014 $0.94	
 	 	
•	Net Income for the Fourth Quarter of 2014 $41.2 Million	
 	 	
•	2014 Diluted Earnings Per Share $3.69	
 	 	
•	2014 Net Income $163.0 Million	
 	 	
•	Board of Directors Declares Dividend of $0.45 Per Share	

FOR IMMEDIATE RELEASE

HONOLULU, HI (January 26, 2015) -- Bank of Hawaii Corporation (NYSE: BOH) today reported diluted earnings per share of $0.94 for the fourth quarter of 2014, down from $0.95 per share in the previous quarter, and up from $0.88 per share in the same quarter last year. Net income for the fourth quarter of 2014 was $41.2 million, compared to net income of $41.8 million in the third quarter of 2014 and $39.1 million in the same quarter last year. The return on average assets for the fourth quarter of 2014 was 1.12 percent, compared with 1.15 percent in the third quarter of 2014 and 1.12 percent in the fourth quarter last year. The return on average equity for the fourth quarter of 2014 was 15.39 percent, compared with 15.57 percent in the third quarter of 2014 and 15.36 percent in the fourth quarter last year.

Loan and lease balances were $6.9 billion at December 31, 2014, up 4.4 percent from September 30, 2014 and up 13.2 percent compared with December 31, 2013. Deposit growth remained strong during the quarter, increasing 2.2 percent from September 30, 2014 and 6.0 percent from December 31, 2013. The net interest margin was 2.84 percent during the fourth quarter of 2014 compared with 2.85 percent in the previous quarter and fourth quarter last year.

“Bank of Hawaii finished 2014 with strong financial performance," said Peter Ho, Chairman, President, and CEO. “During the quarter loan balances and deposits continued to grow. Our net interest margin was relatively stable, credit quality remained solid, expenses were well controlled, and our capital ratios remain quite strong.”

Diluted earnings per share for the full year of 2014 were $3.69, up $0.31 or 9.2 percent from diluted earnings per share of $3.38 in 2013. Net income for the year was $163.0 million, up $12.5 million or 8.3 percent from net income of $150.5 million in the previous year. The return on average assets for the full year of 2014 was 1.14 percent, up from 1.10 percent in 2013. The return on average equity for the full year of 2014 was 15.50 percent, up from 14.78 percent in 2013.

- more -

Bank of Hawaii Corporation 2014 Financial Results     Page 2

Financial Highlights

Net interest income, on a taxable-equivalent basis, for the fourth quarter of 2014 was $99.5 million, an increase of $1.2 million from net interest income of $98.3 million in the third quarter of 2014, and up $4.7 million from net interest income of $94.8 million in the fourth quarter last year. Net interest income, on a taxable-equivalent basis, for the full year of 2014 was $391.1 million, an increase of $22.0 million from net interest income of $369.1 million in 2013. Analyses of changes in net interest income are included in Tables 8a, 8b and 8c.

The net interest margin was 2.84 percent in the fourth quarter of 2014, a decrease of 1 basis point from the third quarter of 2014 and the fourth quarter last year. The net interest margin for the full year of 2014 was 2.85 percent, an increase of 4 basis points from the net interest margin of 2.81 percent in 2013.

Noninterest income was $45.8 million in the fourth quarter of 2014, an increase of $0.8 million compared with $45.0 million in the third quarter of 2014, and an increase of $0.5 million compared with $45.3 million in the fourth quarter of 2013. Noninterest income in the fourth quarter of 2014 included a gain of $2.0 million from the sale of 22,000 Visa Class B shares (9,066 Class A equivalents).  Noninterest income in the third quarter of 2014 included a net gain of $1.9 million resulting from the sale of 23,000 Visa Class B shares (9,478 Class A equivalents).  The Company also contributed 4,700 Visa Class B shares (1,937 Class A equivalents) to the Bank of Hawaii Foundation during the fourth quarter of 2014. The contribution of Visa shares to the Bank of Hawaii Foundation had no impact on noninterest expense; however, the contributions favorably impacted the Company’s effective tax rate.  As of December 31, 2014, the Company has 397,514 Visa Class B shares remaining (163,816 Class A equivalents). Noninterest income for the full year of 2014 was $180.0 million compared with noninterest income of $186.2 million in 2013. The decrease in noninterest income compared with the previous year was primarily the result of lower mortgage banking income which totaled $7.6 million in 2014 compared with $19.2 million in 2013. The reduction in mortgage banking income in 2014 was partially offset by $7.9 million in net gains on the sales of 90,500 Visa Class B shares.

Noninterest expense was $81.2 million in the fourth quarter of 2014, up $0.2 million from noninterest expense of $81.0 million in the third quarter of 2014, and down $1.2 million from noninterest expense of $82.4 million in the fourth quarter of 2013. Noninterest expense for the full year of 2014 was $326.9 million, down $4.1 million, or 1.2 percent, from noninterest expense of $331.0 million in 2013.
The components of salaries and benefits are presented in Table 9.

The efficiency ratio for the fourth quarter of 2014 was 57.03 percent, an improvement from 57.74 percent in the previous quarter and 59.99 percent in the same quarter last year. The efficiency ratio for the full year of 2014 was 58.41 percent compared with 60.71 percent during the full year of 2013.

The effective tax rate for the fourth quarter of 2014 was 32.71 percent compared with 32.59 percent in the previous quarter and 28.96 percent in the same quarter last year.  The effective tax rate for the full year of 2014 was 31.39 percent compared with 29.73 percent for the full year of 2013.  The lower effective tax rate during 2013 was due to a larger release of tax reserves in 2013.

The Company’s business segments are defined as Retail Banking, Commercial Banking, Investment Services, and Treasury & Other. Results are determined based on the Company’s internal financial management reporting process and organizational structure. Selected financial information for the business segments is included in Tables 13a and 13b.

- more -

Bank of Hawaii Corporation 2014 Financial Results     Page 3
    
Asset Quality

The Company’s overall asset quality remained strong during the fourth quarter of 2014. Total non-performing assets decreased to $30.1 million at December 31, 2014, down from $33.3 million at September 30, 2014 and $39.7 million at December 31, 2013. Non-performing assets, as a percentage of total loans and leases and foreclosed real estate, were 0.44 percent at December 31, 2014, down from 0.50 percent at September 30, 2014 and 0.65 percent at December 31, 2013.
Accruing loans and leases past due 90 days or more were $8.7 million at December 31, 2014, down from $9.1 million at September 30, 2014 and $9.9 million at December 31, 2013. Restructured loans not included in non-accrual loans or accruing loans past due 90 days or more were $45.5 million at December 31, 2014 compared with $45.2 million at September 30, 2014 and $51.1 million at December 31, 2013. More information on non-performing assets and accruing loans and leases past due 90 days or more is presented in Table 11.
Net charge-offs during the fourth quarter of 2014 were $1.7 million or 0.10 percent annualized of total average loans and leases outstanding. Loan and lease charge-offs of $3.7 million during the quarter were partially offset by recoveries of $2.1 million. Net charge-offs during the third quarter of 2014 were $0.8 million or 0.05 percent annualized, and were comprised of charge-offs of $3.7 million and recoveries of $2.9 million. Net charge-offs during the fourth quarter of 2013 were $8.2 million, or 0.54 percent annualized, and were comprised of charge-offs of $10.4 million and recoveries of $2.2 million. Net charge-offs for the full year of 2014 were $1.9 million, or 0.03 percent of total average loans and leases, compared with $13.4 million or 0.23 percent of total average loans and leases in 2013.
The allowance for loan and lease losses was $108.7 million at December 31, 2014, down $1.7 million from the allowance for loan and lease losses of $110.4 million at September 30, 2014 and down $6.8 million from the allowance for loan and lease losses of $115.5 million at December 31, 2013. The ratio of the allowance for loan and lease losses to total loans and leases outstanding was 1.58 percent at December 31, 2014, a decrease of 9 basis points from September 30, 2014, and commensurate with the continued improvement in credit quality and the Hawaii economy. The total reserve for unfunded commitments at December 31, 2014 was unchanged from the prior quarter and remained at $5.9 million. Details of loan and lease charge-offs, recoveries, and the components of the total reserve for credit losses are summarized in Table 12.

Other Financial Highlights

The Company’s total assets increased to $14.79 billion at December 31, 2014, up $277.0 million from total assets of $14.51 billion at September 30, 2014, and up $702.9 million from total assets of $14.08 billion at December 31, 2013. Average total assets were $14.60 billion during the fourth quarter of 2014, up $231.1 million from average total assets of $14.37 billion during the third quarter of 2014, and up $738.6 million from average total assets of $13.86 billion during the fourth quarter of 2013.

Total loans and leases increased to $6.90 billion at December 31, 2014, up from $6.61 billion at September 30, 2014, and up from $6.10 billion at December 31, 2013. The commercial loan portfolio was $2.83 billion at the end of the fourth quarter of 2014, up 3.6 percent from commercial loans of $2.73 billion at the end of the third quarter of 2014 and up 11.9 percent from commercial loans of $2.53 billion at the end of the fourth quarter last year. Consumer loans increased to $4.07 billion at December 31, 2014, up 5.0 percent from consumer loans of $3.88 billion at the end of the third quarter of 2014, and up 14.1 percent from consumer loans of $3.57 billion at the end of the fourth quarter last year. Average total loans and leases were $6.75 billion during the fourth quarter of 2014, up from $6.49 billion during the previous quarter and $6.05 billion during the same quarter last year. Loan and lease portfolio balances, including the higher risk loans and leases outstanding, are summarized in Table 10.

- more -

Bank of Hawaii Corporation 2014 Financial Results     Page 4

Deposit generation continued to remain strong during the fourth quarter of 2014. Total deposits increased to $12.63 billion at December 31, 2014, up from total deposits of $12.36 billion at September 30, 2014 and $11.91 billion at December 31, 2013. Average total deposits were $12.44 billion in the fourth quarter of 2014, up from $12.20 billion during the previous quarter and $11.57 billion during the same quarter last year. Deposit balances are summarized in Tables 7a, 7b, and 10.

The investment portfolio was $6.76 billion at December 31, 2014 compared to $6.78 billion at September 30, 2014 and $6.99 billion at December 31, 2013. The investment portfolio remains largely comprised of securities issued by U. S. government agencies and includes $4.47 billion in securities held to maturity and $2.29 billion in securities available for sale. 

During the fourth quarter of 2014, the Company repurchased 280.5 thousand shares of common stock at a total cost of $16.0 million under its share repurchase program. The average cost was $56.94 per share repurchased. From the beginning of the share repurchase program initiated during July 2001 through December 31, 2014, the Company has repurchased 52.0 million shares and returned over $1.9 billion to shareholders at an average cost of $36.96 per share. Remaining buyback authority under the share repurchase program was $73.2 million at December 31, 2014. From January 2 through January 23, 2015, the Company repurchased an additional 75.0 thousand shares of common stock at an average cost of $56.02 per share repurchased.

Total shareholders’ equity was $1.06 billion at December 31, 2014, down slightly from September 30, 2014 and up from $1.01 billion at December 31, 2013. The Tier 1 Capital Ratio was 14.69 percent at December 31, 2014 compared with 15.32 percent at September 30, 2014 and 16.05 percent at December 31, 2013. The Tier 1 Leverage Ratio at December 31, 2014 was 7.13 percent, compared with 7.19 percent at September 30, 2014 and 7.24 percent at December 31, 2013.

The Company’s Board of Directors declared a quarterly cash dividend of $0.45 per share on the Company’s outstanding shares. The dividend will be payable on March 13, 2015 to shareholders of record at the close of business on February 27, 2015.

Hawaii Economy

General economic conditions in Hawaii continued to be healthy during the fourth quarter of 2014, led by a strong tourism industry, relatively low unemployment, rising real estate prices, and accelerating construction activity. For the first eleven months of 2014, total visitor arrivals increased by 0.9 percent and visitor spending increased by 2.3 percent compared to the same period in 2013. While the rate of visitor growth has eased from the prior year, 2014 is on track to be another record year for tourism in Hawaii. The statewide seasonally-adjusted unemployment rate held steady at 4.0 percent in December 2014, which is among the lowest in the nation. Real estate prices on Oahu reached new records during 2014, even as the number of sales declined slightly due to limited inventory of available properties on the market. The volume of single-family home sales on Oahu declined 0.8 percent in 2014 compared to 2013 and the volume of condominium sales on Oahu declined 1.3 percent compared to 2013. The median price of single-family home sales on Oahu increased 3.8 percent during 2014 and the median price of condominium sales on Oahu was 5.4 percent higher compared to 2013. As of December 31, 2014, months of inventory of single-family homes and condominiums on Oahu remained low at approximately 2.6 months and 3.0 months, respectively.

- more -

Bank of Hawaii Corporation 2014 Financial Results     Page 5
    
Conference Call Information

The Company will review its 2014 financial results today at 1:00 p.m. Hawaii Time (6:00 p.m. Eastern Time). The call will be accessible via teleconference and via the Investor Relations link of Bank of Hawaii Corporation’s web site,  www.boh.com . Conference call participants located in the United States or Canada should dial 1 (800) 708-4540. All other international conference call participants should dial 1 (847) 619-6397. Use the pass code “Bank of Hawaii” to access the call. A replay will be available for one week beginning on Monday, January 26, 2015 by dialing 1 (888) 843-7419 in the United States or Canada and 1 (630) 652-3042 from other international locations. Enter the pass code number 38758852# when prompted. A replay of the conference call will also be available via the Investor Relations link on the Company’s website,  www.boh.com .

Forward-Looking Statements

This news release, and other statements made by the Company in connection with it may contain "forward-looking statements", such as forecasts of our financial results and condition, expectations for our operations and business prospects, and our assumptions used in those forecasts and expectations.  Do not unduly rely on forward-looking statements.  Actual results might differ significantly from our forecasts and expectations because of a variety of factors. More information about these factors is contained in Bank of Hawaii Corporation's Annual Report on Form 10-K for the year ended December 31, 2013, which was filed with the U.S. Securities and Exchange Commission.  We do not promise to update forward-looking statements to reflect later events or circumstances.

Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa, and the West Pacific. The Company’s principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. For more information about Bank of Hawaii Corporation, see the Company’s web site,  www.boh.com .

# # # #

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	 	 	 	
Financial Highlights	 	 	 	 	 	 	 	 	Table 1a	
 	 	
 	Three Months Ended	 	Year Ended	 	
 	December 31,	 	September 30,	 	December 31,	 	December 31,	 	
(dollars in thousands, except per share amounts)	2014	 	2014	 	2013	 	2014	 	2013	 	
For the Period:	 	 	 	 	 	 	 	 	 	 	
Operating Results	 	 	 	 	 	 	 	 	 	 	
Net Interest Income	$	96,632	
 	 	$	95,379	
 	 	$	92,120	
 	 	$	379,656	
 	 	$	358,907	
 	 	
Provision for Credit Losses	—	
 	 	(2,665	)	 	—	
 	 	(4,864	)	 	—	
 	 	
Total Noninterest Income	45,818	
 	 	44,950	
 	 	45,278	
 	 	180,017	
 	 	186,223	
 	 	
Total Noninterest Expense	81,240	
 	 	81,030	
 	 	82,424	
 	 	326,899	
 	 	330,969	
 	 	
Net Income	41,191	
 	 	41,769	
 	 	39,055	
 	 	163,042	
 	 	150,502	
 	 	
Basic Earnings Per Share	0.95	
 	 	0.95	
 	 	0.88	
 	 	3.71	
 	 	3.39	
 	 	
Diluted Earnings Per Share	0.94	
 	 	0.95	
 	 	0.88	
 	 	3.69	
 	 	3.38	
 	 	
Dividends Declared Per Share	0.45	
 	 	0.45	
 	 	0.45	
 	 	1.80	
 	 	1.80	

Performance Ratios	 	 	 	 	 	 	 	 	 	 	
Return on Average Assets	1.12	
 	%	1.15	
 	%	1.12	
 	%	1.14	
 	%	1.10	
 	%	
Return on Average Shareholders' Equity	15.39	
 	 	15.57	
 	 	15.36	
 	 	15.50	
 	 	14.78	
 	 	
Efficiency Ratio 1	57.03	
 	 	57.74	
 	 	59.99	
 	 	58.41	
 	 	60.71	
 	 	
Net Interest Margin 2	2.84	
 	 	2.85	
 	 	2.85	
 	 	2.85	
 	 	2.81	
 	 	
Dividend Payout Ratio 3	47.37	
 	 	47.37	
 	 	51.14	
 	 	48.52	
 	 	53.10	
 	 	
Average Shareholders' Equity to Average Assets	7.27	
 	 	7.41	
 	 	7.28	
 	 	7.35	
 	 	7.44	

Average Balances	 	 	 	 	 	 	 	 	 	 	
Average Loans and Leases	$	6,746,332	
 	 	$	6,488,780	
 	 	$	6,053,607	
 	 	$	6,405,431	
 	 	$	5,883,686	
 	 	
Average Assets	14,603,493	
 	 	14,372,375	
 	 	13,864,914	
 	 	14,317,516	
 	 	13,692,133	
 	 	
Average Deposits	12,435,692	
 	 	12,200,654	
 	 	11,571,905	
 	 	12,122,148	
 	 	11,396,801	
 	 	
Average Shareholders' Equity	1,061,900	
 	 	1,064,589	
 	 	1,008,813	
 	 	1,052,195	
 	 	1,018,287	

Per Share of Common Stock	 	 	 	 	 	 	 	 	 	 	
Book Value	$	24.13	
 	 	$	24.04	
 	 	$	22.75	
 	 	$	24.13	
 	 	$	22.75	
 	 	
Tangible Book Value	23.41	
 	 	23.32	
 	 	22.04	
 	 	23.41	
 	 	22.04	
 	 	
Market Value	 	 	 	 	 	 	 	 	 	 	
   Closing	59.31	
 	 	56.81	
 	 	59.14	
 	 	59.31	
 	 	59.14	
 	 	
   High	61.00	
 	 	60.75	
 	 	59.92	
 	 	61.73	
 	 	59.92	
 	 	
   Low	52.70	
 	 	55.55	
 	 	53.16	
 	 	52.70	
 	 	44.88	

 	 	 	
 	
 	 	December 31,	
 	 	September 30,	
 	 	December 31,	

 	
 	 	2014	
 	 	2014	
 	 	2013	
 	 	
As of Period End:	 	 	 	 	 	 	 	 	 	 	
Balance Sheet Totals	 	 	 	 	 	 	 	 	 	 	
Loans and Leases	 	 	
 	
 	 	$	6,897,589	
 	 	$	6,606,350	
 	 	$	6,095,387	
 	 	
Total Assets	 	 	
 	 	14,787,208	
 	 	14,510,166	
 	 	14,084,280	
 	 	
Total Deposits	 	 	
 	 	12,633,089	
 	 	12,361,441	
 	 	11,914,656	
 	 	
Long-Term Debt	 	 	
 	 	173,912	
 	 	173,926	
 	 	174,706	
 	 	
Total Shareholders' Equity	 	 	
 	 	1,055,086	
 	 	1,057,413	
 	 	1,011,976	

Asset Quality	 	 	 	 	 	 	 	 	 	 	
Allowance for Loan and Lease Losses	 	 	
 	
 	 	$	108,688	
 	 	$	110,362	
 	 	$	115,454	
 	 	
Non-Performing Assets	 	 	
 	 	30,082	
 	 	33,307	
 	 	39,650	

Financial Ratios	 	 	 	 	 	 	 	 	 	 	
Allowance to Loans and Leases Outstanding	 	
 	
 	 	1.58	
 	%	1.67	
 	%	1.89	
 	%	
Tier 1 Capital Ratio 4	 	 	
 	
 	 	14.69	
 	 	15.32	
 	 	16.05	
 	 	
Total Capital Ratio 4	 	 	
 	
 	 	15.94	
 	 	16.57	
 	 	17.31	
 	 	
Tier 1 Leverage Ratio 4	 	 	
 	
 	 	7.13	
 	 	7.19	
 	 	7.24	
 	 	
Total Shareholders' Equity to Total Assets	 	 	
 	
 	 	7.14	
 	 	7.29	
 	 	7.19	
 	 	
Tangible Common Equity to Tangible Assets 5	 	
 	
 	 	6.94	
 	 	7.09	
 	 	6.98	
 	 	
Tangible Common Equity to Risk-Weighted Assets 4, 5	 	
 	
 	 	14.46	
 	 	15.23	
 	 	15.67	

Non-Financial Data	 	 	 	 	 	 	 	 	 	 	
Full-Time Equivalent Employees	 	 	
 	 	2,161	
 	 	2,170	
 	 	2,196	
 	 	
Branches	 	 	
 	 	74	
 	 	74	
 	 	74	
 	 	
ATMs	 	 	
 	 	459	
 	 	459	
 	 	466	

1  Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).	 	
2  Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.	 	 	 	
3  Dividend payout ratio is defined as dividends declared per share divided by basic earnings per share.	 	 	 	 	 	
4 Financial ratios as of December 31, 2013 were revised to conform to the current period calculation.	 	 	 	 	 	
5 Tangible common equity to tangible assets and tangible common equity to risk-weighted assets are Non-GAAP financial measures. See Table 1b “Reconciliation of
   Non-GAAP Financial Measures."	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	 	
Reconciliation of Non-GAAP Financial Measures	 	 	 	 	Table 1b	
 	
 	 	 	December 31,	
 	 	September 30,	
 	 	December 31,	
 	
(dollars in thousands)	 	2014	
 	 	2014	
 	 	2013	
 	
Total Shareholders' Equity	 	$	1,055,086	
 	 	$	1,057,413	
 	 	$	1,011,976	
 	
Less:	Goodwill	 	31,517	
 	 	31,517	
 	 	31,517	
 	
Tangible Common Equity	 	$	1,023,569	
 	 	$	1,025,896	
 	 	$	980,459	

Total Assets	 	$	14,787,208	
 	 	$	14,510,166	
 	 	$	14,084,280	
 	
Less:	Goodwill	 	31,517	
 	 	31,517	
 	 	31,517	
 	
Tangible Assets	 	$	14,755,691	
 	 	$	14,478,649	
 	 	$	14,052,763	

Risk-Weighted Assets, determined in accordance	 	 	 	 	 	 	
 	with prescribed regulatory requirements 1	 	$	7,077,035	
 	 	$	6,737,853	
 	 	$	6,258,178	

Total Shareholders' Equity to Total Assets	 	7.14	%	 	7.29	%	 	7.19	%	
Tangible Common Equity to Tangible Assets (Non-GAAP)	 	6.94	%	 	7.09	%	 	6.98	%	
 	 	 	 	 	 	 	 	
Tier 1 Capital Ratio 1	 	14.69	%	 	15.32	%	 	16.05	%	
Tangible Common Equity to Risk-Weighted Assets (Non-GAAP)  1	 	14.46	%	 	15.23	%	 	15.67	%	

1  Risk-weighted assets and financial ratios as of December 31, 2013 were revised to conform to the current period calculation.	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	
Net Significant Items	 	 	 	 	 	Table 2	
 	
 	Three Months Ended	 	Year Ended	
 	December 31,	
 	September 30,	
 	December 31,	
 	 	December 31,	
(dollars in thousands)	2014	
 	2014	
 	2013	
 	 	2014	
 	2013	
 	
Investment Securities Gains, Net	$	1,966	
 	$	1,858	
 	$	—	
 	 	$	8,063	
 	$	—	
 	
Decrease in Allowance for Loan and Lease Losses	1,674	
 	3,476	
 	8,225	
 	 	6,766	
 	13,403	
 	
Separation Expense	202	
 	(14	)	(394	)	 	(448	)	(4,486	)	
Professional and Casualty Reserve Adjustment	2,009	
 	—	
 	—	
 	 	2,009	
 	—	
 	
Operating Losses	—	
 	—	
 	—	
 	 	(730	)	—	
 	
Significant Items Before the Provision (Benefit) for Income Taxes	5,851	
 	5,320	
 	7,831	
 	 	15,660	
 	8,917	
 	
Release of Tax Reserve	—	
 	—	
 	—	
 	 	(1,249	)	(2,357	)	
Income Tax Impact	2,294	
 	2,085	
 	2,741	
 	 	6,139	
 	3,121	
 	
Net Significant Items	$	3,557	
 	$	3,235	
 	$	5,090	
 	 	$	10,770	
 	$	8,153	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	
Consolidated Statements of Income	 	 	 	Table 3	
 	
 	Three Months Ended	 	Year Ended	
 	December 31,	September 30,	December 31,	 	December 31,	
(dollars in thousands, except per share amounts)	2014	2014	2013	 	2014	2013	
Interest Income	 	 	 	 	 	 	
   Interest and Fees on Loans and Leases	$	69,974	
 	$	68,089	
 	$	63,809	
 	 	$	267,407	
 	$	253,276	
 	
   Income on Investment Securities	 	 	 	 	 	 	
      Available-for-Sale	10,732	
 	10,286	
 	10,608	
 	 	42,475	
 	53,570	
 	
      Held-to-Maturity	24,966	
 	26,067	
 	26,882	
 	 	105,860	
 	90,062	
 	
   Deposits	2	
 	3	
 	3	
 	 	9	
 	10	
 	
   Funds Sold	192	
 	176	
 	105	
 	 	673	
 	415	
 	
   Other	303	
 	302	
 	302	
 	 	1,209	
 	1,172	
 	
Total Interest Income	106,169	
 	104,923	
 	101,709	
 	 	417,633	
 	398,505	
 	
Interest Expense	 	 	 	 	 	 	
   Deposits	2,392	
 	2,391	
 	2,418	
 	 	9,534	
 	10,143	
 	
   Securities Sold Under Agreements to Repurchase	6,520	
 	6,523	
 	6,530	
 	 	25,905	
 	26,837	
 	
   Funds Purchased	3	
 	3	
 	8	
 	 	13	
 	44	
 	
   Short-Term Borrowings	—	
 	—	
 	2	
 	 	—	
 	2	
 	
   Long-Term Debt	622	
 	627	
 	631	
 	 	2,525	
 	2,572	
 	
Total Interest Expense	9,537	
 	9,544	
 	9,589	
 	 	37,977	
 	39,598	
 	
Net Interest Income	96,632	
 	95,379	
 	92,120	
 	 	379,656	
 	358,907	
 	
Provision for Credit Losses	—	
 	(2,665	)	—	
 	 	(4,864	)	—	
 	
Net Interest Income After Provision for Credit Losses	96,632	
 	98,044	
 	92,120	
 	 	384,520	
 	358,907	
 	
Noninterest Income	 	 	 	 	 	 	
   Trust and Asset Management	12,225	
 	11,716	
 	12,240	
 	 	47,798	
 	47,932	
 	
   Mortgage Banking	2,116	
 	1,646	
 	2,823	
 	 	7,571	
 	19,186	
 	
   Service Charges on Deposit Accounts	9,058	
 	9,095	
 	9,326	
 	 	35,669	
 	37,124	
 	
   Fees, Exchange, and Other Service Charges	13,702	
 	13,390	
 	12,670	
 	 	53,401	
 	50,469	
 	
   Investment Securities Gains, Net	1,966	
 	1,858	
 	—	
 	 	8,063	
 	—	
 	
   Annuity and Insurance	1,664	
 	2,348	
 	2,295	
 	 	8,065	
 	9,190	
 	
   Bank-Owned Life Insurance	1,874	
 	1,644	
 	1,895	
 	 	6,639	
 	5,892	
 	
   Other	3,213	
 	3,253	
 	4,029	
 	 	12,811	
 	16,430	
 	
Total Noninterest Income	45,818	
 	44,950	
 	45,278	
 	 	180,017	
 	186,223	
 	
Noninterest Expense	 	 	 	 	 	 	
   Salaries and Benefits	45,520	
 	45,530	
 	43,643	
 	 	183,028	
 	184,211	
 	
   Net Occupancy	9,291	
 	9,334	
 	9,602	
 	 	37,296	
 	38,745	
 	
   Net Equipment	4,734	
 	4,473	
 	4,837	
 	 	18,479	
 	18,366	
 	
   Data Processing	3,823	
 	3,665	
 	3,827	
 	 	14,979	
 	13,840	
 	
   Professional Fees	3,086	
 	1,835	
 	2,669	
 	 	9,794	
 	9,405	
 	
   FDIC Insurance	2,055	
 	1,750	
 	1,954	
 	 	7,936	
 	7,765	
 	
   Other	12,731	
 	14,443	
 	15,892	
 	 	55,387	
 	58,637	
 	
Total Noninterest Expense	81,240	
 	81,030	
 	82,424	
 	 	326,899	
 	330,969	
 	
Income Before Provision for Income Taxes	61,210	
 	61,964	
 	54,974	
 	 	237,638	
 	214,161	
 	
Provision for Income Taxes	20,019	
 	20,195	
 	15,919	
 	 	74,596	
 	63,659	
 	
Net Income	$	41,191	
 	$	41,769	
 	$	39,055	
 	 	$	163,042	
 	$	150,502	
 	
Basic Earnings Per Share	$	0.95	
 	$	0.95	
 	$	0.88	
 	 	$	3.71	
 	$	3.39	
 	
Diluted Earnings Per Share	$	0.94	
 	$	0.95	
 	$	0.88	
 	 	$	3.69	
 	$	3.38	
 	
Dividends Declared Per Share	$	0.45	
 	$	0.45	
 	$	0.45	
 	 	$	1.80	
 	$	1.80	
 	
Basic Weighted Average Shares	43,499,627	
 	43,859,396	
 	44,223,281	
 	 	43,899,208	
 	44,380,948	
 	
Diluted Weighted Average Shares	43,758,873	
 	44,088,553	
 	44,496,313	
 	 	44,125,456	
 	44,572,725	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	
Consolidated Statements of Comprehensive Income	 	 	Table 4	
 	
 	 	Three Months Ended	 	Year Ended	
 	 	December 31,	September 30,	December 31,	 	December 31,	
(dollars in thousands)	2014	2014	2013	 	2014	2013	
Net Income	$	41,191	
 	$	41,769	
 	$	39,055	
 	 	$	163,042	
 	$	150,502	
 	
Other Comprehensive Income (Loss), Net of Tax:	 	 	 	 	 	 	
 	Net Unrealized Gains (Losses) on Investment Securities	1,567	
 	403	
 	(6,006	)	 	16,858	
 	(69,206	)	
 	Defined Benefit Plans	(12,190	)	157	
 	7,694	
 	 	(11,721	)	8,175	
 	
Total Other Comprehensive Income (Loss)	(10,623	)	560	
 	1,688	
 	 	5,137	
 	(61,031	)	
Comprehensive Income	$	30,568	
 	$	42,329	
 	$	40,743	
 	 	$	168,179	
 	$	89,471	

 	
 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	
Consolidated Statements of Condition	 	 	Table 5	
 	
 	December 31,	
 	September 30,	
 	December 31,	
 	
(dollars in thousands)	2014	
 	2014	
 	2013	
 	
Assets	 	 	 	
Interest-Bearing Deposits in Other Banks	$	2,873	
 	$	3,883	
 	$	3,617	
 	
Funds Sold	360,577	
 	377,303	
 	271,414	
 	
Investment Securities	 	 	 	
   Available-for-Sale	2,289,190	
 	2,220,913	
 	2,243,697	
 	
   Held-to-Maturity (Fair Value of $4,504,495; $4,576,396; and $4,697,587)	4,466,679	
 	4,557,614	
 	4,744,519	
 	
Loans Held for Sale	5,136	
 	2,382	
 	6,435	
 	
Loans and Leases	6,897,589	
 	6,606,350	
 	6,095,387	
 	
   Allowance for Loan and Lease Losses	(108,688	)	(110,362	)	(115,454	)	
     Net Loans and Leases	6,788,901	
 	6,495,988	
 	5,979,933	
 	
Total Earning Assets	13,913,356	
 	13,658,083	
 	13,249,615	
 	
Cash and Due from Banks	172,126	
 	172,386	
 	188,715	
 	
Premises and Equipment, Net	109,854	
 	107,560	
 	108,636	
 	
Accrued Interest Receivable	44,654	
 	46,641	
 	43,930	
 	
Foreclosed Real Estate	2,311	
 	3,562	
 	3,205	
 	
Mortgage Servicing Rights	24,695	
 	25,559	
 	28,123	
 	
Goodwill	31,517	
 	31,517	
 	31,517	
 	
Bank-Owned Life Insurance	262,807	
 	261,862	
 	223,246	
 	
Other Assets	225,888	
 	202,996	
 	207,293	
 	
Total Assets	$	14,787,208	
 	$	14,510,166	
 	$	14,084,280	

Liabilities	 	 	 	
Deposits	 	 	 	
   Noninterest-Bearing Demand	$	3,832,943	
 	$	3,824,544	
 	$	3,681,128	
 	
   Interest-Bearing Demand	2,559,570	
 	2,369,434	
 	2,355,608	
 	
   Savings	4,806,575	
 	4,738,364	
 	4,560,150	
 	
   Time	1,434,001	
 	1,429,099	
 	1,317,770	
 	
Total Deposits	12,633,089	
 	12,361,441	
 	11,914,656	
 	
Funds Purchased	8,459	
 	8,459	
 	9,982	
 	
Securities Sold Under Agreements to Repurchase	688,601	
 	700,203	
 	770,049	
 	
Long-Term Debt	173,912	
 	173,926	
 	174,706	
 	
Retirement Benefits Payable	55,477	
 	35,152	
 	34,965	
 	
Accrued Interest Payable	5,148	
 	6,086	
 	4,871	
 	
Taxes Payable and Deferred Taxes	27,777	
 	42,468	
 	34,907	
 	
Other Liabilities	139,659	
 	125,018	
 	128,168	
 	
Total Liabilities	13,732,122	
 	13,452,753	
 	13,072,304	
 	
Shareholders' Equity	 	 	 	
Common Stock ($.01 par value; authorized 500,000,000 shares;	 	 	 	
   issued / outstanding: December 31, 2014 - 57,634,755 / 43,724,208;	 	 	 	
   September 30, 2014 - 57,633,855 / 43,993,729;	 	 	 	
   and December 31, 2013 - 57,480,846 / 44,490,385)	574	
 	573	
 	572	
 	
Capital Surplus	531,932	
 	529,530	
 	522,505	
 	
Accumulated Other Comprehensive Loss	(26,686	)	(16,063	)	(31,823	)	
Retained Earnings	1,234,801	
 	1,213,339	
 	1,151,754	
 	
Treasury Stock, at Cost (Shares: December 31, 2014 - 13,910,547;	 	 	 	
   September 30, 2014 - 13,640,126; and December 31, 2013 - 12,990,461)	(685,535	)	(669,966	)	(631,032	)	
Total Shareholders' Equity	1,055,086	
 	1,057,413	
 	1,011,976	
 	
Total Liabilities and Shareholders' Equity	$	14,787,208	
 	$	14,510,166	
 	$	14,084,280	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	
Consolidated Statements of Shareholders' Equity	 	 	 	Table 6	
 	
 	 	 	 	 	Accum.	
 	 	 	 	
 	 	 	 	 	Other	
 	 	 	 	
 	 	 	 	 	Compre-	
 	 	 	 	
 	 	 	 	 	hensive	
 	 	 	 	
 	Common Shares	 	Common	
 	Capital	
 	Income	
 	Retained	
 	Treasury	
 	 	
(dollars in thousands)	Outstanding	
 	Stock	
 	Surplus	
 	(Loss)	
 	Earnings	
 	Stock	
 	Total	
 	
Balance as of December 31, 2012	44,754,835	
 	$	571	
 	$	515,619	
 	$	29,208	
 	$	1,084,477	
 	$	(608,210	)	$	1,021,665	
 	
Net Income	—	
 	—	
 	—	
 	—	
 	150,502	
 	—	
 	150,502	
 	
Other Comprehensive Loss	—	
 	—	
 	—	
 	(61,031	)	—	
 	—	
 	(61,031	)	
Share-Based Compensation	—	
 	—	
 	5,546	
 	—	
 	—	
 	—	
 	5,546	
 	
Common Stock Issued under Purchase and Equity	 	 	 	 	 	 	 	
 	Compensation Plans and Related Tax Benefits	505,691	
 	1	
 	1,340	
 	—	
 	(2,691	)	16,833	
 	15,483	
 	
Common Stock Repurchased	(770,141	)	—	
 	—	
 	—	
 	—	
 	(39,655	)	(39,655	)	
Cash Dividends Declared ($1.80 per share)	—	
 	—	
 	—	
 	—	
 	(80,534	)	—	
 	(80,534	)	
Balance as of December 31, 2013	44,490,385	
 	$	572	
 	$	522,505	
 	$	(31,823	)	$	1,151,754	
 	$	(631,032	)	$	1,011,976	
 	
Net Income	—	
 	—	
 	—	
 	—	
 	163,042	
 	—	
 	163,042	
 	
Other Comprehensive Income	—	
 	—	
 	—	
 	5,137	
 	 	 	5,137	
 	
Share-Based Compensation	—	
 	—	
 	7,870	
 	—	
 	—	
 	—	
 	7,870	
 	
Common Stock Issued under Purchase and Equity	 	 	 	 	 	 	 	
 	Compensation Plans and Related Tax Benefits	345,278	
 	2	
 	1,557	
 	—	
 	(335	)	9,543	
 	10,767	
 	
Common Stock Repurchased	(1,111,455	)	—	
 	—	
 	—	
 	—	
 	(64,046	)	(64,046	)	
Cash Dividends Declared ($1.80 per share)	—	
 	—	
 	—	
 	—	
 	(79,660	)	—	
 	(79,660	)	
Balance as of December 31, 2014	43,724,208	
 	$	574	
 	$	531,932	
 	$	(26,686	)	$	1,234,801	
 	$	(685,535	)	$	1,055,086	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	 	 	 	 	
Average Balances and Interest Rates - Taxable-Equivalent Basis	 	 	 	 	Table 7a	 	 	
 	 	Three Months Ended	 	Three Months Ended	 	Three Months Ended	 	
 	 	December 31, 2014	 	September 30, 2014	 	December 31, 2013	 	
 	 	Average	
 	Income/	
 	Yield/	
 	 	Average	
 	Income/	
 	Yield/	
 	 	Average	
 	Income/	
 	Yield/	
 	 	
(dollars in millions)	Balance	
 	Expense	
 	Rate	
 	 	Balance	
 	Expense	
 	Rate	
 	 	Balance	
 	Expense	
 	Rate	
 	 	
Earning Assets	 	 	 	 	 	 	 	 	 	 	 	 	
Interest-Bearing Deposits in Other Banks	$	3.4	
 	$	—	
 	0.24	
 	%	$	4.1	
 	$	—	
 	0.24	
 	%	$	3.2	
 	$	—	
 	0.42	
 	%	
Funds Sold	358.8	
 	0.2	
 	0.21	
 	 	326.2	
 	0.2	
 	0.21	
 	 	222.8	
 	0.1	
 	0.18	
 	 	
Investment Securities	 	 	 	 	 	 	 	 	 	 	 	 	
 	Available-for-Sale	 	 	 	 	 	 	 	 	 	 	 	 	
 	   Taxable	1,563.9	
 	7	
 	1.78	
 	 	1,508.0	
 	6.6	
 	1.75	
 	 	1,654.6	
 	7.3	
 	1.77	
 	 	
 	   Non-Taxable	715.1	
 	5.8	
 	3.24	
 	 	704.0	
 	5.7	
 	3.22	
 	 	620.2	
 	5.1	
 	3.26	
 	 	
 	Held-to-Maturity	 	 	 	 	 	 	 	 	 	 	 	 	
 	   Taxable	4,256.3	
 	23.3	
 	2.19	
 	 	4,390.2	
 	24.4	
 	2.23	
 	 	4,399.9	
 	25.2	
 	2.29	
 	 	
 	   Non-Taxable	250.0	
 	2.5	
 	3.95	
 	 	250.9	
 	2.5	
 	3.95	
 	 	253.5	
 	2.5	
 	3.97	
 	 	
Total Investment Securities	6,785.3	
 	38.6	
 	2.27	
 	 	6,853.1	
 	39.2	
 	2.29	
 	 	6,928.2	
 	40.1	
 	2.32	
 	 	
Loans Held for Sale	2.8	
 	—	
 	3.92	
 	 	2.0	
 	—	
 	4.03	
 	 	7.8	
 	0.1	
 	5.07	
 	 	
Loans and Leases 1	 	 	 	 	 	 	 	 	 	 	 	 	
 	Commercial and Industrial	1,025.3	
 	8.5	
 	3.30	
 	 	980.8	
 	8.9	
 	3.61	
 	 	906.3	
 	7.8	
 	3.42	
 	 	
 	Commercial Mortgage	1,421.3	
 	13.9	
 	3.87	
 	 	1,350.6	
 	13.3	
 	3.89	
 	 	1,237.0	
 	12.4	
 	3.97	
 	 	
 	Construction	110.4	
 	1.2	
 	4.52	
 	 	126.2	
 	1.3	
 	4.20	
 	 	115.2	
 	1.3	
 	4.63	
 	 	
 	Commercial Lease Financing	228.7	
 	1.9	
 	3.41	
 	 	235.1	
 	2.0	
 	3.33	
 	 	255.6	
 	1.4	
 	2.14	
 	 	
 	Residential Mortgage	2,501.8	
 	26.5	
 	4.24	
 	 	2,396.7	
 	25.3	
 	4.22	
 	 	2,284.4	
 	24.8	
 	4.35	
 	 	
 	Home Equity	850.5	
 	8.2	
 	3.82	
 	 	823.3	
 	8.1	
 	3.92	
 	 	767.7	
 	7.8	
 	4.04	
 	 	
 	Automobile	314.0	
 	4.2	
 	5.29	
 	 	296.6	
 	4.0	
 	5.29	
 	 	248.9	
 	3.4	
 	5.39	
 	 	
 	Other 2	294.3	
 	5.5	
 	7.37	
 	 	279.5	
 	5.2	
 	7.45	
 	 	238.5	
 	4.9	
 	8.08	
 	 	
Total Loans and Leases	6,746.3	
 	69.9	
 	4.13	
 	 	6,488.8	
 	68.1	
 	4.18	
 	 	6,053.6	
 	63.8	
 	4.19	
 	 	
Other	68.7	
 	0.3	
 	1.76	
 	 	71.4	
 	0.3	
 	1.69	
 	 	77.5	
 	0.3	
 	1.55	
 	 	
Total Earning Assets 3	13,965.3	
 	109	
 	3.11	
 	 	13,745.6	
 	107.8	
 	3.13	
 	 	13,293.1	
 	104.4	
 	3.13	
 	 	
Cash and Due from Banks	140.2	
 	 	 	 	152.4	
 	 	 	 	136.8	
 	 	 	 	
Other Assets	498.0	
 	 	 	 	474.4	
 	 	 	 	435.0	
 	 	 	 	
Total Assets	$	14,603.5	
 	 	 	 	$	14,372.4	
 	 	 	 	$	13,864.9	

Interest-Bearing Liabilities	 	 	 	 	 	 	 	 	 	 	 	 	
Interest-Bearing Deposits	 	 	 	 	 	 	 	 	 	 	 	 	
 	Demand	$	2,459.0	
 	0.2	
 	0.03	
 	 	$	2,417.4	
 	0.2	
 	0.03	
 	 	$	2,245.5	
 	0.1	
 	0.03	
 	 	
 	Savings	4,720.7	
 	1.0	
 	0.09	
 	 	4,591.4	
 	1.0	
 	0.09	
 	 	4,499.5	
 	1.0	
 	0.09	
 	 	
 	Time	1,480.5	
 	1.2	
 	0.32	
 	 	1,440.1	
 	1.2	
 	0.34	
 	 	1,331.2	
 	1.3	
 	0.38	
 	 	
Total Interest-Bearing Deposits	8,660.2	
 	2.4	
 	0.11	
 	 	8,448.9	
 	2.4	
 	0.11	
 	 	8,076.2	
 	2.4	
 	0.12	
 	 	
Short-Term Borrowings	8.5	
 	—	
 	0.14	
 	 	9.3	
 	—	
 	0.14	
 	 	28.3	
 	—	
 	0.15	
 	 	
Securities Sold Under Agreements to
    Repurchase	693.2	
 	6.5	
 	3.68	
 	 	715.6	
 	6.5	
 	3.57	
 	 	832.6	
 	6.6	
 	3.07	
 	 	
Long-Term Debt	173.9	
 	0.6	
 	1.43	
 	 	173.8	
 	0.6	
 	1.44	
 	 	174.7	
 	0.6	
 	1.44	
 	 	
Total Interest-Bearing Liabilities	9,535.8	
 	9.5	
 	0.39	
 	 	9,347.6	
 	9.5	
 	0.40	
 	 	9,111.8	
 	9.6	
 	0.41	
 	 	
Net Interest Income	 	$	99.5	
 	 	 	 	$	98.3	
 	 	 	 	$	94.8	
 	 	 	
 	Interest Rate Spread	 	 	2.72	
 	%	 	 	2.73	
 	%	 	 	2.72	
 	%	
 	Net Interest Margin	 	 	2.84	
 	%	 	 	2.85	
 	%	 	 	2.85	
 	%	
Noninterest-Bearing Demand Deposits	3,775.5	
 	 	 	 	3,751.8	
 	 	 	 	3,495.7	
 	 	 	 	
Other Liabilities	230.3	
 	 	 	 	208.4	
 	 	 	 	248.6	
 	 	 	 	
Shareholders' Equity	1,061.9	
 	 	 	 	1,064.6	
 	 	 	 	1,008.8	
 	 	 	 	
Total Liabilities and Shareholders'
    Equity	$	14,603.5	
 	 	 	 	$	14,372.4	
 	 	 	 	$	13,864.9	

 	 	 	 	 	 	 	 	 	 	 	 	 	 	
1  Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis.	 	
2  Comprised of other consumer revolving credit, installment, and consumer lease financing.	 	 	 	 	 	 	
3  Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 35%, of $2,908,000, $2,873,000, and $2,696,000 for the three months ended	 	
 	December 31, 2014, September 30, 2014, and December 31, 2013, respectively.	 	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	
Average Balances and Interest Rates - Taxable-Equivalent Basis	 	 	 	Table 7b	
 	 	
 	 	Year Ended	 	Year Ended	 	
 	 	December 31, 2014	 	December 31, 2013	 	
 	 	Average	
 	Income/	
 	Yield/	
 	 	Average	
 	Income/	
 	Yield/	
 	 	
(dollars in millions)	Balance	
 	Expense	
 	Rate	
 	 	Balance	
 	Expense	
 	Rate	
 	 	
Earning Assets	 	 	 	 	 	 	 	 	
Interest-Bearing Deposits in Other Banks	$	4.3	
 	$	—	
 	0.21	
 	%	$	4.0	
 	$	—	
 	0.26	
 	%	
Funds Sold	316.2	
 	0.7	
 	0.21	
 	 	221.2	
 	0.4	
 	0.19	
 	 	
Investment Securities	 	 	 	 	 	 	 	 	
 	Available-for-Sale	 	 	 	 	 	 	 	 	
 	   Taxable	1,536.5	
 	27.7	
 	1.80	
 	 	2,138.3	
 	38.7	
 	1.81	
 	 	
 	   Non-Taxable	699.6	
 	22.7	
 	3.24	
 	 	684.2	
 	22.9	
 	3.35	
 	 	
 	Held-to-Maturity	 	 	 	 	 	 	 	 	
 	   Taxable	4,412.5	
 	99.4	
 	2.25	
 	 	3,955.8	
 	86.7	
 	2.19	
 	 	
 	   Non-Taxable	251.3	
 	10.0	
 	3.95	
 	 	130.8	
 	5.1	
 	3.94	
 	 	
Total Investment Securities	6,899.9	
 	159.8	
 	2.32	
 	 	6,909.1	
 	153.4	
 	2.22	
 	 	
Loans Held for Sale	3.2	
 	0.1	
 	4.31	
 	 	16.4	
 	0.7	
 	4.18	
 	 	
Loans and Leases 1	 	 	 	 	 	 	 	 	
 	Commercial and Industrial	970.3	
 	33.3	
 	3.43	
 	 	865.8	
 	30.9	
 	3.57	
 	 	
 	Commercial Mortgage	1,331.5	
 	52.5	
 	3.94	
 	 	1,152.9	
 	46.9	
 	4.06	
 	 	
 	Construction	109.4	
 	4.8	
 	4.40	
 	 	114.6	
 	5.4	
 	4.75	
 	 	
 	Commercial Lease Financing	237.6	
 	7.0	
 	2.96	
 	 	261.6	
 	6.0	
 	2.31	
 	 	
 	Residential Mortgage	2,377.9	
 	101.6	
 	4.27	
 	 	2,275.8	
 	101.7	
 	4.47	
 	 	
 	Home Equity	815.6	
 	31.9	
 	3.91	
 	 	761.5	
 	31.4	
 	4.12	
 	 	
 	Automobile	288.8	
 	15.4	
 	5.32	
 	 	232.3	
 	12.7	
 	5.48	
 	 	
 	Other 2	274.3	
 	20.8	
 	7.58	
 	 	219.2	
 	18.0	
 	8.21	
 	 	
Total Loans and Leases	6,405.4	
 	267.3	
 	4.17	
 	 	5,883.7	
 	253.0	
 	4.30	
 	 	
Other	72.7	
 	1.2	
 	1.66	
 	 	78.3	
 	1.2	
 	1.50	
 	 	
Total Earning Assets 3	13,701.7	
 	429.1	
 	3.13	
 	 	13,112.7	
 	408.7	
 	3.12	
 	 	
Cash and Due from Banks	143.4	
 	 	 	 	138.9	
 	 	 	 	
Other Assets	472.4	
 	 	 	 	440.5	
 	 	 	 	
Total Assets	$	14,317.5	
 	 	 	 	$	13,692.1	

Interest-Bearing Liabilities	 	 	 	 	 	 	 	 	
Interest-Bearing Deposits	 	 	 	 	 	 	 	 	
 	Demand	$	2,390.8	
 	0.7	
 	0.03	
 	 	$	2,140.5	
 	0.6	
 	0.03	
 	 	
 	Savings	4,592.6	
 	3.9	
 	0.09	
 	 	4,461.4	
 	3.9	
 	0.09	
 	 	
 	Time	1,450.3	
 	4.9	
 	0.34	
 	 	1,406.2	
 	5.6	
 	0.40	
 	 	
Total Interest-Bearing Deposits	8,433.7	
 	9.5	
 	0.11	
 	 	8,008.1	
 	10.1	
 	0.13	
 	 	
Short-Term Borrowings	9.3	
 	—	
 	0.14	
 	 	31.7	
 	—	
 	0.15	
 	 	
Securities Sold Under Agreements to Repurchase	747.9	
 	25.9	
 	3.46	
 	 	809.4	
 	26.9	
 	3.32	
 	 	
Long-Term Debt	174.4	
 	2.6	
 	1.45	
 	 	171.0	
 	2.6	
 	1.50	
 	 	
Total Interest-Bearing Liabilities	9,365.3	
 	38.0	
 	0.41	
 	 	9,020.2	
 	39.6	
 	0.44	
 	 	
Net Interest Income	 	$	391.1	
 	 	 	 	$	369.1	
 	 	 	
 	Interest Rate Spread	 	 	2.72	
 	%	 	 	2.68	
 	%	
 	Net Interest Margin	 	 	2.85	
 	%	 	 	2.81	
 	%	
Noninterest-Bearing Demand Deposits	3,688.4	
 	 	 	 	3,388.7	
 	 	 	 	
Other Liabilities	211.6	
 	 	 	 	264.9	
 	 	 	 	
Shareholders' Equity	1,052.2	
 	 	 	 	1,018.3	
 	 	 	 	
Total Liabilities and Shareholders' Equity	$	14,317.5	
 	 	 	 	$	13,692.1	

 	 	 	 	 	 	 	 	 	 	
1  Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis.	 	
2  Comprised of other consumer revolving credit, installment, and consumer lease financing.	 	 	 	 	 	
3  Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 35%, of $11,479,000 and $10,194,000 for the	 	 	
 	years ended December 31, 2014 and December 31, 2013, respectively.	 	 	 	 	 	

 	
 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis	 	Table 8a	
 	
 	Three Months Ended December 31, 2014	
 	Compared to September 30, 2014	
(dollars in millions)	Volume 1	
 	Rate 1	
 	Total	
 	
Change in Interest Income:	 	 	 	
Investment Securities	 	 	 	
   Available-for-Sale	 	 	 	
      Taxable	$	0.2	
 	$	0.2	
 	$	0.4	
 	
      Non-Taxable	0.1	
 	—	
 	0.1	
 	
   Held-to-Maturity	 	 	 	
      Taxable	(0.7	)	(0.4	)	(1.1	)	
Total Investment Securities	(0.4	)	(0.2	)	(0.6	)	
Loans and Leases	 	 	 	
   Commercial and Industrial	0.4	
 	(0.8	)	(0.4	)	
   Commercial Mortgage	0.7	
 	(0.1	)	0.6	
 	
   Construction	(0.2	)	0.1	
 	(0.1	)	
   Commercial Lease Financing	(0.1	)	—	
 	(0.1	)	
   Residential Mortgage	1.1	
 	0.1	
 	1.2	
 	
   Home Equity	0.3	
 	(0.2	)	0.1	
 	
   Automobile	0.2	
 	—	
 	0.2	
 	
   Other 2	0.3	
 	—	
 	0.3	
 	
Total Loans and Leases	2.7	
 	(0.9	)	1.8	
 	
Total Change in Interest Income	2.3	
 	(1.1	)	1.2	

Change in Interest Expense:	 	 	 	
Interest-Bearing Deposits	 	 	 	
   Time	0.1	
 	(0.1	)	—	
 	
Total Interest-Bearing Deposits	0.1	
 	(0.1	)	—	
 	
Securities Sold Under Agreements to Repurchase	(0.2	)	0.2	
 	—	
 	
Total Change in Interest Expense	(0.1	)	0.1	
 	—	

Change in Net Interest Income	$	2.4	
 	$	(1.2	)	$	1.2	

 	 	 	 	
1 The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.	
2  Comprised of other consumer revolving credit, installment, and consumer lease financing.	

 	
 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis	 	Table 8b	
 	
 	Three Months Ended December 31, 2014	
 	Compared to December 31, 2013	
(dollars in millions)	Volume 1	
 	Rate 1	
 	Total	
 	
Change in Interest Income:	 	 	 	
Funds Sold	$	0.1	
 	$	—	
 	$	0.1	
 	
Investment Securities	 	 	 	
   Available-for-Sale	 	 	 	
      Taxable	(0.4	)	0.1	
 	(0.3	)	
      Non-Taxable	0.7	
 	—	
 	0.7	
 	
   Held-to-Maturity	 	 	 	
      Taxable	(0.8	)	(1.1	)	(1.9	)	
Total Investment Securities	(0.5	)	(1.0	)	(1.5	)	
Loans Held for Sale	(0.1	)	—	
 	(0.1	)	
Loans and Leases	 	 	 	
   Commercial and Industrial	1.0	
 	(0.3	)	0.7	
 	
   Commercial Mortgage	1.8	
 	(0.3	)	1.5	
 	
   Construction	(0.1	)	—	
 	(0.1	)	
   Commercial Lease Financing	(0.2	)	0.7	
 	0.5	
 	
   Residential Mortgage	2.3	
 	(0.6	)	1.7	
 	
   Home Equity	0.8	
 	(0.4	)	0.4	
 	
   Automobile	0.9	
 	(0.1	)	0.8	
 	
   Other 2	1.1	
 	(0.5	)	0.6	
 	
Total Loans and Leases	7.6	
 	(1.5	)	6.1	
 	
Total Change in Interest Income	7.1	
 	(2.5	)	4.6	

Change in Interest Expense:	 	 	 	
Interest-Bearing Deposits	 	 	 	
   Demand	0.1	
 	—	
 	0.1	
 	
   Time	0.1	
 	(0.2	)	(0.1	)	
Total Interest-Bearing Deposits	0.2	
 	(0.2	)	—	
 	
Securities Sold Under Agreements to Repurchase	(1.2	)	1.1	
 	(0.1	)	
Total Change in Interest Expense	(1.0	)	0.9	
 	(0.1	)	
 	 	 	 	
Change in Net Interest Income	$	8.1	
 	$	(3.4	)	$	4.7	

 	 	 	 	
1 The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.	
2  Comprised of other consumer revolving credit, installment, and consumer lease financing.	 	

 	
 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	
Analysis of Change in Net Interest Income - Taxable-Equivalent Basis	 	Table 8c	
 	
 	Year Ended December 31, 2014	
 	Compared to December 31, 2013	
(dollars in millions)	Volume 1	
 	Rate 1	
 	Total	
 	
Change in Interest Income:	 	 	 	
Funds Sold	$	0.2	
 	$	0.1	
 	$	0.3	
 	
Investment Securities	 	 	 	
   Available-for-Sale	 	 	 	
      Taxable	(10.9	)	(0.1	)	(11.0	)	
      Non-Taxable	0.6	
 	(0.8	)	(0.2	)	
   Held-to-Maturity	 	 	 	
      Taxable	10.2	
 	2.5	
 	12.7	
 	
      Non-Taxable	4.9	
 	—	
 	4.9	
 	
Total Investment Securities	4.8	
 	1.6	
 	6.4	
 	
Loans Held for Sale	(0.6	)	—	
 	(0.6	)	
Loans and Leases	 	 	 	
   Commercial and Industrial	3.6	
 	(1.2	)	2.4	
 	
   Commercial Mortgage	7.0	
 	(1.4	)	5.6	
 	
   Construction	(0.2	)	(0.4	)	(0.6	)	
   Commercial Lease Financing	(0.6	)	1.6	
 	1.0	
 	
   Residential Mortgage	4.4	
 	(4.5	)	(0.1	)	
   Home Equity	2.2	
 	(1.7	)	0.5	
 	
   Automobile	3.0	
 	(0.3	)	2.7	
 	
   Other 2	4.3	
 	(1.5	)	2.8	
 	
Total Loans and Leases	23.7	
 	(9.4	)	14.3	
 	
Other	(0.1	)	0.1	
 	—	
 	
Total Change in Interest Income	28.0	
 	(7.6	)	20.4	

Change in Interest Expense:	 	 	 	
Interest-Bearing Deposits	 	 	 	
   Demand	0.1	
 	—	
 	0.1	
 	
   Savings	0.1	
 	(0.1	)	—	
 	
   Time	0.2	
 	(0.9	)	(0.7	)	
Total Interest-Bearing Deposits	0.4	
 	(1.0	)	(0.6	)	
Securities Sold Under Agreements to Repurchase	(2.1	)	1.1	
 	(1.0	)	
Long-Term Debt	0.1	
 	(0.1	)	—	
 	
Total Change in Interest Expense	(1.6	)	—	
 	(1.6	)	
 	 	 	 	
Change in Net Interest Income	$	29.6	
 	$	(7.6	)	$	22.0	

 	 	 	 	
1 The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.	
2  Comprised of other consumer revolving credit, installment, and consumer lease financing.	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	
Salaries and Benefits	 	 	 	 	 	Table 9	
 	
 	Three Months Ended	 	Year Ended	
 	December 31,	September 30,	December 31,	 	December 31,	
(dollars in thousands)	2014	2014	2013	 	2014	2013	
Salaries	$	28,751	
 	$	28,990	
 	$	28,636	
 	 	$	114,199	
 	$	115,389	
 	
Incentive Compensation	4,639	
 	4,242	
 	4,681	
 	 	17,471	
 	16,568	
 	
Share-Based Compensation	2,342	
 	2,226	
 	1,158	
 	 	8,808	
 	4,932	
 	
Commission Expense	1,383	
 	1,283	
 	1,222	
 	 	4,831	
 	6,874	
 	
Retirement and Other Benefits	3,947	
 	4,056	
 	3,183	
 	 	16,800	
 	15,289	
 	
Payroll Taxes	2,007	
 	2,162	
 	2,091	
 	 	9,916	
 	11,242	
 	
Medical, Dental, and Life Insurance	2,653	
 	2,557	
 	2,278	
 	 	10,555	
 	9,431	
 	
Separation Expense	(202	)	14	
 	394	
 	 	448	
 	4,486	
 	
Total Salaries and Benefits	$	45,520	
 	$	45,530	
 	$	43,643	
 	 	$	183,028	
 	$	184,211	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	
Loan and Lease Portfolio Balances	 	 	 	Table 10	
 	
 	 	December 31,	
 	September 30,	
 	June 30,	
 	March 31,	
 	December 31,	
 	
(dollars in thousands)	2014	
 	2014	
 	2014	
 	2014	
 	2013	
 	
Commercial	 	 	 	 	 	
 	Commercial and Industrial	$	1,055,243	
 	$	991,157	
 	$	988,940	
 	$	955,599	
 	$	911,367	
 	
 	Commercial Mortgage	1,437,513	
 	1,373,289	
 	1,345,549	
 	1,284,181	
 	1,247,510	
 	
 	Construction	109,183	
 	132,097	
 	121,434	
 	91,452	
 	107,349	
 	
 	Lease Financing	226,189	
 	232,381	
 	237,585	
 	240,931	
 	262,207	
 	
Total Commercial	2,828,128	
 	2,728,924	
 	2,693,508	
 	2,572,163	
 	2,528,433	
 	
Consumer	 	 	 	 	 	
 	Residential Mortgage	2,571,090	
 	2,444,989	
 	2,355,085	
 	2,305,153	
 	2,282,894	
 	
 	Home Equity	866,688	
 	838,206	
 	811,180	
 	797,341	
 	773,385	
 	
 	Automobile	323,848	
 	306,003	
 	287,794	
 	273,553	
 	255,986	
 	
 	Other 1	307,835	
 	288,228	
 	278,786	
 	261,647	
 	254,689	
 	
Total Consumer	4,069,461	
 	3,877,426	
 	3,732,845	
 	3,637,694	
 	3,566,954	
 	
Total Loans and Leases	$	6,897,589	
 	$	6,606,350	
 	$	6,426,353	
 	$	6,209,857	
 	$	6,095,387	

 	 	 	 	 	 	 	
Higher Risk Loans and Leases Outstanding	 	 	 	 	
 	 	December 31,	
 	September 30,	
 	June 30,	
 	March 31,	
 	December 31,	
 	
(dollars in thousands)	2014	
 	2014	
 	2014	
 	2014	
 	2013	
 	
Residential Land Loans 2	$	8,565	
 	$	9,117	
 	$	10,016	
 	$	11,086	
 	$	11,922	
 	
Home Equity Loans 3	11,128	
 	9,914	
 	11,307	
 	11,846	
 	12,594	
 	
Air Transportation Leases 4	16,752	
 	21,668	
 	24,917	
 	24,969	
 	26,152	
 	
Total Higher Risk Loans and Leases	$	36,445	
 	$	40,699	
 	$	46,240	
 	$	47,901	
 	$	50,668	

1  Comprised of other revolving credit, installment, and lease financing.	 	 	 	
2  We consider all of our residential land loans, which are consumer loans secured by unimproved lots, to be of higher risk due to the volatility in the value	
 	of the underlying collateral.	 	 	 	 	
3  Higher risk home equity loans are defined as those loans originated in 2005 or later, with current monitoring credit scores below 600, and with original	
 	loan-to-value ratios greater than 70%.	 	 	 	 	
4  We consider all of our air transportation leases to be of higher risk due to the weak financial profile of the industry.	 	
 	 	 	 	 	
Deposits	 	 	 	 	
 	 	December 31,	
 	September 30,	
 	June 30,	
 	March 31,	
 	December 31,	
 	
(dollars in thousands)	2014	
 	2014	
 	2014	
 	2014	
 	2013	
 	
Consumer	$	6,092,929	
 	$	5,972,435	
 	$	5,938,123	
 	$	5,960,485	
 	$	5,829,352	
 	
Commercial	5,163,352	
 	5,070,080	
 	5,207,026	
 	4,742,308	
 	4,814,076	
 	
Public and Other	1,376,808	
 	1,318,926	
 	1,524,885	
 	1,341,680	
 	1,271,228	
 	
Total Deposits	$	12,633,089	
 	$	12,361,441	
 	$	12,670,034	
 	$	12,044,473	
 	$	11,914,656	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	
Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More	 	Table 11	
 	
 	 	 	December 31,	
 	September 30,	
 	June 30,	
 	March 31,	
 	December 31,	
 	
(dollars in thousands)	2014	
 	2014	
 	2014	
 	2014	
 	2013	
 	
Non-Performing Assets	 	 	 	 	 	
Non-Accrual Loans and Leases	 	 	 	 	 	
 	Commercial	 	 	 	 	 	
 	 	Commercial and Industrial	$	9,088	
 	$	8,952	
 	$	10,437	
 	$	11,239	
 	$	11,929	
 	
 	 	Commercial Mortgage	745	
 	1,366	
 	1,403	
 	1,421	
 	2,512	
 	
 	Total Commercial	9,833	
 	10,318	
 	11,840	
 	12,660	
 	14,441	
 	
 	Consumer	 	 	 	 	 	
 	 	Residential Mortgage	14,841	
 	16,756	
 	15,818	
 	19,003	
 	20,264	
 	
 	 	Home Equity	3,097	
 	2,671	
 	2,787	
 	1,935	
 	1,740	
 	
 	Total Consumer	17,938	
 	19,427	
 	18,605	
 	20,938	
 	22,004	
 	
Total Non-Accrual Loans and Leases	27,771	
 	29,745	
 	30,445	
 	33,598	
 	36,445	
 	
Foreclosed Real Estate	2,311	
 	3,562	
 	3,944	
 	3,450	
 	3,205	
 	
Total Non-Performing Assets	$	30,082	
 	$	33,307	
 	$	34,389	
 	$	37,048	
 	$	39,650	

Accruing Loans and Leases Past Due 90 Days or More	 	 	 	 	
Commercial	 	 	 	 	 	
 	Commercial and Industrial	$	2	
 	$	14	
 	$	—	
 	$	150	
 	$	1,173	
 	
Total Commercial	2	
 	14	
 	—	
 	150	
 	1,173	
 	
Consumer	 	 	 	 	 	
 	Residential Mortgage	4,506	
 	4,819	
 	6,082	
 	5,729	
 	4,564	
 	
 	Home Equity	2,596	
 	2,816	
 	2,505	
 	2,845	
 	3,009	
 	
 	Automobile	616	
 	612	
 	236	
 	346	
 	322	
 	
 	Other 1	941	
 	842	
 	844	
 	644	
 	790	
 	
Total Consumer	8,659	
 	9,089	
 	9,667	
 	9,564	
 	8,685	
 	
Total Accruing Loans and Leases Past Due 90 Days or More	$	8,661	
 	$	9,103	
 	$	9,667	
 	$	9,714	
 	$	9,858	
 	
Restructured Loans on Accrual Status	 	 	 	 	 	
   and Not Past Due 90 Days or More	$	45,474	
 	$	45,169	
 	$	43,625	
 	$	44,473	
 	$	51,123	
 	
Total Loans and Leases	$	6,897,589	
 	$	6,606,350	
 	$	6,426,353	
 	$	6,209,857	
 	$	6,095,387	

Ratio of Non-Accrual Loans and Leases to Total Loans and Leases	0.40	%	0.45	%	0.47	%	0.54	%	0.60	%	
 	 	 	 	 	 	 	 	
Ratio of Non-Performing Assets to Total Loans and Leases	 	 	 	 	 	
 	and Foreclosed Real Estate	0.44	%	0.50	%	0.53	%	0.60	%	0.65	%	
 	 	 	 	 	 	 	 	
Ratio of Commercial Non-Performing Assets to Total Commercial Loans	 	 	 	 	 	
 	and Leases and Commercial Foreclosed Real Estate	0.38	%	0.42	%	0.48	%	0.53	%	0.61	%	
 	 	 	 	 	 	 	 	
Ratio of Consumer Non-Performing Assets to Total Consumer Loans	 	 	 	 	 	
 	and Leases and Consumer Foreclosed Real Estate	0.47	%	0.56	%	0.57	%	0.64	%	0.68	%	
 	 	 	 	 	 	 	 	
Ratio of Non-Performing Assets and Accruing Loans and Leases	 	 	 	 	
 	Past Due 90 Days or More to Total Loans and Leases	 	 	 	 	 	
 	and Foreclosed Real Estate	0.56	%	0.64	%	0.69	%	0.75	%	0.81	%	
 	 	 	 	 	 	 	 	
Quarter to Quarter Changes in Non-Performing Assets	 	 	 	 	 	
Balance at Beginning of Quarter	$	33,307	
 	$	34,389	
 	$	37,048	
 	$	39,650	
 	$	33,832	
 	
Additions	1,885	
 	2,565	
 	2,798	
 	2,491	
 	13,040	
 	
Reductions	 	 	 	 	 	
 	Payments	(1,822	)	(2,381	)	(2,753	)	(1,855	)	(932	)	
 	Return to Accrual Status	(1,291	)	(704	)	(904	)	(1,864	)	(2,308	)	
 	Sales of Foreclosed Real Estate	(1,480	)	(449	)	(1,782	)	(737	)	(1,431	)	
 	Charge-offs/Write-downs	(517	)	(113	)	(18	)	(637	)	(2,551	)	
Total Reductions	(5,110	)	(3,647	)	(5,457	)	(5,093	)	(7,222	)	
Balance at End of Quarter	$	30,082	
 	$	33,307	
 	$	34,389	
 	$	37,048	
 	$	39,650	

 	 	 	 	 	 	 	 	
1 Comprised of other revolving credit, installment, and lease financing.	 	 	 	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	 	
Reserve for Credit Losses	 	 	 	 	 	Table 12	
 	
 	 	 	Three Months Ended	 	Year Ended	
 	 	 	December 31,	September 30,	December 31,	 	December 31,	
(dollars in thousands)	2014	2014	2013	 	2014	2013	
Balance at Beginning of Period	$	116,249	
 	$	119,725	
 	$	129,747	
 	 	$	121,521	
 	$	134,276	
 	
Loans and Leases Charged-Off	 	 	 	 	 	 	
 	Commercial	 	 	 	 	 	 	
 	 	Commercial and Industrial	(205	)	(229	)	(6,828	)	 	(2,002	)	(8,083	)	
 	 	Lease Financing	—	
 	—	
 	—	
 	 	(66	)	(16	)	
 	Consumer	 	 	 	 	 	 	
 	 	Residential Mortgage	(97	)	(22	)	(185	)	 	(771	)	(2,013	)	
 	 	Home Equity	(293	)	(475	)	(721	)	 	(1,672	)	(5,220	)	
 	 	Automobile	(1,376	)	(957	)	(670	)	 	(3,961	)	(2,131	)	
 	 	Other 1	(1,772	)	(1,978	)	(2,039	)	 	(6,967	)	(7,657	)	
Total Loans and Leases Charged-Off	(3,743	)	(3,661	)	(10,443	)	 	(15,439	)	(25,120	)	
Recoveries on Loans and Leases Previously Charged-Off	 	 	 	 	 	 	
 	Commercial	 	 	 	 	 	 	
 	 	Commercial and Industrial	396	
 	1,177	
 	308	
 	 	4,625	
 	1,681	
 	
 	 	Commercial Mortgage	14	
 	14	
 	14	
 	 	57	
 	557	
 	
 	 	Construction	8	
 	8	
 	8	
 	 	29	
 	365	
 	
 	 	Lease Financing	4	
 	3	
 	8	
 	 	10	
 	41	
 	
 	Consumer	 	 	 	 	 	 	
 	 	Residential Mortgage	542	
 	299	
 	828	
 	 	3,448	
 	3,540	
 	
 	 	Home Equity	204	
 	531	
 	246	
 	 	1,637	
 	1,943	
 	
 	 	Automobile	467	
 	322	
 	363	
 	 	1,577	
 	1,628	
 	
 	 	Other 1	434	
 	496	
 	442	
 	 	2,154	
 	1,962	
 	
Total Recoveries on Loans and Leases Previously Charged-Off	2,069	
 	2,850	
 	2,217	
 	 	13,537	
 	11,717	
 	
Net Loans and Leases Charged-Off	(1,674	)	(811	)	(8,226	)	 	(1,902	)	(13,403	)	
Provision for Credit Losses	—	
 	(2,665	)	—	
 	 	(4,864	)	—	
 	
Provision for Unfunded Commitments	—	
 	—	
 	—	
 	 	(180	)	648	
 	
Balance at End of Period 2	$	114,575	
 	$	116,249	
 	$	121,521	
 	 	$	114,575	
 	$	121,521	

Components	 	 	 	 	 	 	
Allowance for Loan and Lease Losses	$	108,688	
 	$	110,362	
 	$	115,454	
 	 	$	108,688	
 	$	115,454	
 	
Reserve for Unfunded Commitments	5,887	
 	5,887	
 	6,067	
 	 	5,887	
 	6,067	
 	
Total Reserve for Credit Losses	$	114,575	
 	$	116,249	
 	$	121,521	
 	 	$	114,575	
 	$	121,521	

Average Loans and Leases Outstanding	$	6,746,332	
 	$	6,488,780	
 	$	6,053,607	
 	 	$	6,405,431	
 	$	5,883,686	

Ratio of Net Loans and Leases Charged-Off to	 	 	 	 	 	 	
 	Average Loans and Leases Outstanding (annualized)	0.10	%	0.05	%	0.54	%	 	0.03	%	0.23	%	
Ratio of Allowance for Loan and Lease Losses to Loans
      and Leases Outstanding	1.58	%	1.67	%	1.89	%	 	1.58	%	1.89	%	

1  Comprised of other revolving credit, installment, and lease financing.	 	 	 	 	
2  Included in this analysis is activity related to the Company's reserve for unfunded commitments, which is separately recorded in other liabilities in the	
 	Consolidated Statements of Condition.	 	 	 	 	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	
Business Segments Selected Financial Information	 	 	Table 13a	
 	
 	Retail	
 	Commercial	
 	Investment	
 	Treasury	
 	Consolidated	
 	
(dollars in thousands)	Banking	
 	Banking	
 	Services	
 	and Other	
 	Total	
 	
Three Months Ended December 31, 2014	 	 	 	 	 	
Net Interest Income	$	49,091	
 	$	32,445	
 	$	2,828	
 	$	12,268	
 	$	96,632	
 	
Provision for Credit Losses	1,888	
 	(205	)	(10	)	(1,673	)	—	
 	
Net Interest Income After Provision for Credit Losses	47,203	
 	32,650	
 	2,838	
 	13,941	
 	96,632	
 	
Noninterest Income	20,220	
 	5,897	
 	14,380	
 	5,321	
 	45,818	
 	
Noninterest Expense	(50,049	)	(16,737	)	(13,004	)	(1,450	)	(81,240	)	
Income Before Provision for Income Taxes	17,374	
 	21,810	
 	4,214	
 	17,812	
 	61,210	
 	
Provision for Income Taxes	(6,204	)	(7,656	)	(1,559	)	(4,600	)	(20,019	)	
Net Income	$	11,170	
 	$	14,154	
 	$	2,655	
 	$	13,212	
 	$	41,191	
 	
Total Assets as of December 31, 2014	$	4,126,551	
 	$	2,749,228	
 	$	202,645	
 	$	7,708,784	
 	$	14,787,208	

 	 	 	 	 	 	
Three Months Ended December 31, 2013	 	 	 	 	 	
Net Interest Income	$	42,155	
 	$	25,647	
 	$	2,614	
 	$	21,704	
 	$	92,120	
 	
Provision for Credit Losses	1,790	
 	6,419	
 	(19	)	(8,190	)	—	
 	
Net Interest Income After Provision for Credit Losses	40,365	
 	19,228	
 	2,633	
 	29,894	
 	92,120	
 	
Noninterest Income	20,377	
 	6,564	
 	14,862	
 	3,475	
 	45,278	
 	
Noninterest Expense	(50,015	)	(16,296	)	(13,353	)	(2,760	)	(82,424	)	
Income Before Provision for Income Taxes	10,727	
 	9,496	
 	4,142	
 	30,609	
 	54,974	
 	
Provision for Income Taxes	(3,970	)	(3,054	)	(1,533	)	(7,362	)	(15,919	)	
Net Income	$	6,757	
 	$	6,442	
 	$	2,609	
 	$	23,247	
 	$	39,055	
 	
Total Assets as of December 31, 2013	$	3,658,495	
 	$	2,426,452	
 	$	189,421	
 	$	7,809,912	
 	$	14,084,280	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	
Business Segments Selected Financial Information	 	 	Table 13b	
 	
 	Retail	
 	Commercial	
 	Investment	
 	Treasury	
 	Consolidated	
 	
(dollars in thousands)	Banking	
 	Banking	
 	Services	
 	and Other	
 	Total	
 	
Year Ended December 31, 2014	 	 	 	 	 	
Net Interest Income	$	183,867	
 	$	118,761	
 	$	10,723	
 	$	66,305	
 	$	379,656	
 	
Provision for Credit Losses	4,783	
 	(2,369	)	(313	)	(6,965	)	(4,864	)	
Net Interest Income After Provision for Credit Losses	179,084	
 	121,130	
 	11,036	
 	73,270	
 	384,520	
 	
Noninterest Income	80,110	
 	23,120	
 	57,586	
 	19,201	
 	180,017	
 	
Noninterest Expense	(197,786	)	(65,952	)	(53,846	)	(9,315	)	(326,899	)	
Income Before Provision for Income Taxes	61,408	
 	78,298	
 	14,776	
 	83,156	
 	237,638	
 	
Provision for Income Taxes	(22,221	)	(27,228	)	(5,467	)	(19,680	)	(74,596	)	
Net Income	$	39,187	
 	$	51,070	
 	$	9,309	
 	$	63,476	
 	$	163,042	
 	
Total Assets as of December 31, 2014	$	4,126,551	
 	$	2,749,228	
 	$	202,645	
 	$	7,708,784	
 	$	14,787,208	

 	 	 	 	 	 	
Year Ended December 31, 2013	 	 	 	 	 	
Net Interest Income	$	164,597	
 	$	99,623	
 	$	10,552	
 	$	84,135	
 	$	358,907	
 	
Provision for Credit Losses	8,565	
 	4,918	
 	(71	)	(13,412	)	—	
 	
Net Interest Income After Provision for Credit Losses	156,032	
 	94,705	
 	10,623	
 	97,547	
 	358,907	
 	
Noninterest Income	88,063	
 	26,946	
 	59,308	
 	11,906	
 	186,223	
 	
Noninterest Expense	(200,853	)	(64,253	)	(54,307	)	(11,556	)	(330,969	)	
Income Before Provision for Income Taxes	43,242	
 	57,398	
 	15,624	
 	97,897	
 	214,161	
 	
Provision for Income Taxes	(16,000	)	(19,467	)	(5,781	)	(22,411	)	(63,659	)	
Net Income	$	27,242	
 	$	37,931	
 	$	9,843	
 	$	75,486	
 	$	150,502	
 	
Total Assets as of December 31, 2013	$	3,658,495	
 	$	2,426,452	
 	$	189,421	
 	$	7,809,912	
 	$	14,084,280	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	 	 	 	
Selected Quarterly Financial Data	 	 	 	 	 	 	 	Table 14	
 	 	
 	Three Months Ended	 	
 	December 31,	
 	 	September 30,	
 	 	June 30,	
 	 	March 31,	
 	 	December 31,	
 	 	
(dollars in thousands, except per share amounts)	2014	
 	 	2014	
 	 	2014	
 	 	2014	
 	 	2013	
 	 	
Quarterly Operating Results	 	 	 	 	 	 	 	 	 	 	
Interest Income	 	 	 	 	 	 	 	 	 	 	
   Interest and Fees on Loans and Leases	$	69,974	
 	 	$	68,089	
 	 	$	65,818	
 	 	$	63,526	
 	 	$	63,809	
 	 	
   Income on Investment Securities	 	 	 	 	 	 	 	 	 	 	
      Available-for-Sale	10,732	
 	 	10,286	
 	 	10,697	
 	 	10,760	
 	 	10,608	
 	 	
      Held-to-Maturity	24,966	
 	 	26,067	
 	 	26,938	
 	 	27,889	
 	 	26,882	
 	 	
   Deposits	2	
 	 	3	
 	 	1	
 	 	3	
 	 	3	
 	 	
   Funds Sold	192	
 	 	176	
 	 	168	
 	 	137	
 	 	105	
 	 	
   Other	303	
 	 	302	
 	 	302	
 	 	302	
 	 	302	
 	 	
Total Interest Income	106,169	
 	 	104,923	
 	 	103,924	
 	 	102,617	
 	 	101,709	
 	 	
Interest Expense	 	 	 	 	 	 	 	 	 	 	
   Deposits	2,392	
 	 	2,391	
 	 	2,393	
 	 	2,358	
 	 	2,418	
 	 	
   Securities Sold Under Agreements to Repurchase	6,520	
 	 	6,523	
 	 	6,465	
 	 	6,397	
 	 	6,530	
 	 	
   Funds Purchased	3	
 	 	3	
 	 	4	
 	 	3	
 	 	8	
 	 	
   Short-Term Borrowings	—	
 	 	—	
 	 	—	
 	 	—	
 	 	2	
 	 	
   Long-Term Debt	622	
 	 	627	
 	 	650	
 	 	626	
 	 	631	
 	 	
Total Interest Expense	9,537	
 	 	9,544	
 	 	9,512	
 	 	9,384	
 	 	9,589	
 	 	
Net Interest Income	96,632	
 	 	95,379	
 	 	94,412	
 	 	93,233	
 	 	92,120	
 	 	
Provision for Credit Losses	—	
 	 	(2,665	)	 	(2,199	)	 	—	
 	 	—	
 	 	
Net Interest Income After Provision for Credit Losses	96,632	
 	 	98,044	
 	 	96,611	
 	 	93,233	
 	 	92,120	
 	 	
Noninterest Income	 	 	 	 	 	 	 	 	 	 	
   Trust and Asset Management	12,225	
 	 	11,716	
 	 	12,005	
 	 	11,852	
 	 	12,240	
 	 	
   Mortgage Banking	2,116	
 	 	1,646	
 	 	1,804	
 	 	2,005	
 	 	2,823	
 	 	
   Service Charges on Deposit Accounts	9,058	
 	 	9,095	
 	 	8,638	
 	 	8,878	
 	 	9,326	
 	 	
   Fees, Exchange, and Other Service Charges	13,702	
 	 	13,390	
 	 	13,370	
 	 	12,939	
 	 	12,670	
 	 	
   Investment Securities Gains, Net	1,966	
 	 	1,858	
 	 	2,079	
 	 	2,160	
 	 	—	
 	 	
   Annuity and Insurance	1,664	
 	 	2,348	
 	 	1,930	
 	 	2,123	
 	 	2,295	
 	 	
   Bank-Owned Life Insurance	1,874	
 	 	1,644	
 	 	1,519	
 	 	1,602	
 	 	1,895	
 	 	
   Other	3,213	
 	 	3,253	
 	 	3,136	
 	 	3,209	
 	 	4,029	
 	 	
Total Noninterest Income	45,818	
 	 	44,950	
 	 	44,481	
 	 	44,768	
 	 	45,278	
 	 	
Noninterest Expense	 	 	 	 	 	 	 	 	 	 	
   Salaries and Benefits	45,520	
 	 	45,530	
 	 	45,081	
 	 	46,897	
 	 	43,643	
 	 	
   Net Occupancy	9,291	
 	 	9,334	
 	 	9,254	
 	 	9,417	
 	 	9,602	
 	 	
   Net Equipment	4,734	
 	 	4,473	
 	 	4,669	
 	 	4,603	
 	 	4,837	
 	 	
   Data Processing	3,823	
 	 	3,665	
 	 	3,842	
 	 	3,649	
 	 	3,827	
 	 	
   Professional Fees	3,086	
 	 	1,835	
 	 	2,613	
 	 	2,260	
 	 	2,669	
 	 	
   FDIC Insurance	2,055	
 	 	1,750	
 	 	2,055	
 	 	2,076	
 	 	1,954	
 	 	
   Other	12,731	
 	 	14,443	
 	 	13,568	
 	 	14,645	
 	 	15,892	
 	 	
Total Noninterest Expense	81,240	
 	 	81,030	
 	 	81,082	
 	 	83,547	
 	 	82,424	
 	 	
Income Before Provision for Income Taxes	61,210	
 	 	61,964	
 	 	60,010	
 	 	54,454	
 	 	54,974	
 	 	
Provision for Income Taxes	20,019	
 	 	20,195	
 	 	18,520	
 	 	15,862	
 	 	15,919	
 	 	
Net Income	$	41,191	
 	 	$	41,769	
 	 	$	41,490	
 	 	$	38,592	
 	 	$	39,055	

Basic Earnings Per Share	$	0.95	
 	 	$	0.95	
 	 	$	0.94	
 	 	$	0.87	
 	 	$	0.88	
 	 	
Diluted Earnings Per Share	$	0.94	
 	 	$	0.95	
 	 	$	0.94	
 	 	$	0.87	
 	 	$	0.88	

Balance Sheet Totals	 	 	 	 	 	 	 	 	 	 	
Loans and Leases	$	6,897,589	
 	 	$	6,606,350	
 	 	$	6,426,353	
 	 	$	6,209,857	
 	 	$	6,095,387	
 	 	
Total Assets	14,787,208	
 	 	14,510,166	
 	 	14,844,505	
 	 	14,263,118	
 	 	14,084,280	
 	 	
Total Deposits	12,633,089	
 	 	12,361,441	
 	 	12,670,034	
 	 	12,044,473	
 	 	11,914,656	
 	 	
Total Shareholders' Equity	1,055,086	
 	 	1,057,413	
 	 	1,050,801	
 	 	1,028,904	
 	 	1,011,976	

Performance Ratios	 	 	 	 	 	 	 	 	 	 	
Return on Average Assets	1.12	
 	%	1.15	
 	%	1.17	
 	%	1.12	
 	%	1.12	
 	%	
Return on Average Shareholders' Equity	15.39	
 	 	15.57	
 	 	15.87	
 	 	15.15	
 	 	15.36	
 	 	
Efficiency Ratio 1	57.03	
 	 	57.74	
 	 	58.38	
 	 	60.54	
 	 	59.99	
 	 	
Net Interest Margin 2	2.84	
 	 	2.85	
 	 	2.86	
 	 	2.87	
 	 	2.85	

 	 	 	 	 	 	 	 	 	 	 	
1  Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and noninterest income).	 	 	 	
2  Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.	 	 	 	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Bank of Hawaii Corporation and Subsidiaries	 	 	 	 	 	 	 	 	 	
Hawaii Economic Trends	 	 	 	 	 	 	 	 	 	Table 15	
 	Eleven Months Ended	 	 	Year Ended	
($ in millions; jobs in thousands)	November 30, 2014	 	 	December 31, 2013	December 31, 2012	
Hawaii Economic Trends	 	 	 	 	 	 	 	 	 	 	 	 	
   State General Fund Revenues 1	$	5,083.1	
 	1.4	
 	%	 	$	5,451.3	
 	 	3.7	
 	%	$	5,259.1	
 	 	12.8	
 	%	
   General Excise and Use Tax Revenue 1	$	2,753.4	
 	2.8	
 	%	 	$	2,907.6	
 	 	2.2	
 	%	$	2,844.7	
 	 	9.9	
 	%	
   Jobs 2	642.8	
 	 	 	 	623.1	
 	 	 	 	619.3	

 	 	 	 	 	 	 	December 31,	
(spot rates)	 	 	 	 	 	 	2014	 	2013	2012	 	
Unemployment 3	 	 	 	 	 	 	 	 	 	 	 	 	
  Statewide, seasonally adjusted	 	 	 	 	 	 	4.0	
 	%	4.7	
 	%	5.1	
 	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	
   Oahu	 	 	 	 	 	 	3.4	
 	 	3.8	
 	 	4.2	
 	 	
   Island of Hawaii	 	 	 	 	 	 	4.7	
 	 	5.9	
 	 	6.9	
 	 	
   Maui	 	 	 	 	 	 	3.8	
 	 	4.7	
 	 	5.2	
 	 	
   Kauai	 	 	 	 	 	 	4.3	
 	 	5.2	
 	 	6.1	

 	 	 	 	 	 	 	December 31,	
(percentage change, except months of inventory)	 	 	 	 	 	2014	 	2013	2012	 	
Housing Trends (Single Family Oahu) 4	 	 	 	 	 	 	 	 	 	 	 	 	
   Median Home Price	 	 	 	 	 	 	3.8	
 	%	4.8	
 	%	7.8	
 	%	
   Home Sales Volume (units)	 	 	 	 	 	 	(0.8	)	%	4.6	
 	%	6.5	
 	%	
   Months of Inventory	 	 	 	 	 	 	2.6	
 	 	2.7	
 	 	2.5	

 	 	 	 	 	Monthly Visitor Arrivals,	 	Percentage Change	
(in thousands)	 	 	 	 	Not Seasonally Adjusted	 	from Previous Year	
Tourism 5	 	 	 	 	 	 	 	 	 	 	 	 	
November 30, 2014	 	 	 	 	 	 	637.7	
 	 	 	 	2.2	
 	 	
October 31, 2014	 	 	 	 	 	 	659.8	
 	 	 	 	3.0	
 	 	
September 30, 2014	 	 	 	 	 	 	622.2	
 	 	 	 	4.1	
 	 	
August 31, 2014	 	 	 	 	 	 	730.7	
 	 	 	 	(2.4	)	 	
July 31, 2014	 	 	 	 	 	 	772.1	
 	 	 	 	1.9	
 	 	
June 30, 2014	 	 	 	 	 	 	725.1	
 	 	 	 	1.2	
 	 	
May 31, 2014	 	 	 	 	 	 	649.1	
 	 	 	 	1.8	
 	 	
April 30, 2014	 	 	 	 	 	 	662.6	
 	 	 	 	(0.7	)	 	
March 31, 2014	 	 	 	 	 	 	728.8	
 	 	 	 	(5.2	)	 	
February 28, 2014	 	 	 	 	 	 	646.8	
 	 	 	 	(4.3	)	 	
January 31, 2014	 	 	 	 	 	 	682.6	
 	 	 	 	0.1	
 	 	
December 31, 2013	 	 	 	 	 	 	722.4	
 	 	 	 	(1.9	)	 	
November 30, 2013	 	 	 	 	 	 	624.1	
 	 	 	 	(4.2	)	 	
October 31, 2013	 	 	 	 	 	 	640.3	
 	 	 	 	(0.1	)	 	
September 30, 2013	 	 	 	 	 	 	597.7	
 	 	 	 	0.5	
 	 	
August 31, 2013	 	 	 	 	 	 	748.8	
 	 	 	 	2.5	
 	 	
July 31, 2013	 	 	 	 	 	 	758.0	
 	 	 	 	4.6	
 	 	
June 30, 2013	 	 	 	 	 	 	716.6	
 	 	 	 	5.5	
 	 	
May 31, 2013	 	 	 	 	 	 	637.5	
 	 	 	 	2.4	
 	 	
April 30, 2013	 	 	 	 	 	 	667.0	
 	 	 	 	3.1	
 	 	
March 31, 2013	 	 	 	 	 	 	769.1	
 	 	 	 	7.6	
 	 	
February 28, 2013	 	 	 	 	 	 	675.5	
 	 	 	 	7.8	
 	 	
January 31, 2013	 	 	 	 	 	 	681.9	
 	 	 	 	5.9	
 	 	
December 31, 2012	 	 	 	 	 	 	733.7	
 	 	 	 	6.3	
 	 	
November 30, 2012	 	 	 	 	 	 	651.2	
 	 	 	 	14.5	

1  Source: Hawaii Department of Business, Economic Development & Tourism	 	 	 	 	 	 	 	
2  Source: U. S. Bureau of Labor	 	 	 	 	 	 	 	 	 	 	
3  Source: Hawaii Department of Labor and Industrial Relations	 	 	 	 	 	 	 	 	 	
4  Source: Honolulu Board of REALTORS	 	 	 	 	 	 	 	 	 	 	
5  Source: Hawaii Tourism Authority	 	 	 	 	 	 	 	 	 	
  Note: Certain prior period seasonally adjusted information has been revised.