Who are Bank of Hawaii Corporation's competitors, and what are the alternatives?
Bank of Hawaii's 2025 10-K, filed February 24, 2026, says it faces intense competition from banks, savings associations, credit unions, mortgage and finance companies, mutual funds, brokerage firms and insurers, and from competitors that may be based outside its markets and reach customers over the Internet. In its home market the rivalry is concentrated: five local banks hold 95% of Hawaii's bank deposits, and on FDIC data for June 30, 2025 Bank of Hawaii held 34.5%, First Hawaiian 32.1%, American Savings Bank 14.2%, Central Pacific 11.6% and Territorial 3.0%. First Hawaiian is the rival in every line: deposits, consumer and commercial lending, wealth and the West Pacific, where it runs three Guam branches and one in Saipan. Central Pacific, the fourth-largest Hawaii depository, says it competes on personal relationships and digital banking. Bank of Hope bought Territorial in April 2025 and runs 28 Territorial Savings branches in Hawaii. In auto lending, First Hawaiian's 10-K names captive automotive finance companies as the rival it must counter. Non-banks are the competition the 10-K points to in everyday banking: its risk factors add financial technology companies to the list, and Central Pacific's 10-K names fintechs and online mortgage lenders. Chime, with 10.4 million active members in June 2026, sells a branchless account; Block lists banks among the competitors of Square and Cash App. For mainland branches, Bank of Hawaii has none to offer: its 51 branches are in Hawaii and the West Pacific.[1][2][3][4][5][6][7][8]
Data as of Oct 20, 2026 · Bank of Hawaii profile updated Oct 19, 2026 · computed tables recalculate from the 140 bank profiles on this site · Markdown
What does Bank of Hawaii say about its competition?
"The Company operates in a highly competitive environment subject to intense competition from traditional financial service providers including banks, savings associations, credit unions, mortgage companies, finance companies, mutual funds, brokerage firms, insurance companies, and other non-traditional providers of financial services including financial service subsidiaries of commercial and manufacturing companies. Some of our competitors are not subject to the same level of regulation and oversight that is required of banks and BHCs, allowing them to receive favorable tax treatment. As a result, some of our competitors may have lower cost structures. Also, some of our competitors, through delivery channels such as the Internet, may be based outside of the markets that we serve. By emphasizing our extensive branch network, exceptional service levels, and knowledge of local trends and conditions, the Company believes it has developed a competitive advantage in its market."[1]
From the risk factor "Competition may adversely affect our business" in the same 10-K: "Our future depends on our ability to compete effectively. We compete for deposits, loans, leases, and other financial services with a variety of competitors, including banks, thrifts, savings associations, credit unions, mortgage companies, finance companies, mutual funds, brokerage firms, insurance companies, and other non-traditional providers of financial services, including financial technology companies and financial service subsidiaries of commercial and manufacturing companies. Some of our competitors are not subject to the same level of regulation and oversight that is required of banks and BHCs, and may benefit from tax exemptions or lower tax rates. As a result, some of these competitors may have lower cost structures. We expect competitive conditions to intensify as consolidation in the financial services industry continues."[1]
"Both federal and local laws provide mechanisms for out-of-state banks and their holding companies to acquire or open branches in our service territories. Failure to effectively address this competitive risk by competing, innovating and making effective use of new and existing channels to deliver our products and services could adversely affect our financial condition or results of operations." (2025 Form 10-K, filed February 24, 2026.)[1]
In its Q2 2026 earnings presentation the bank describes itself as "the leader in a unique deposit market with five local competitors holding 95% of the bank deposit market", citing FDIC Summary of Deposits data.[2]
Who competes with Bank of Hawaii in each of its businesses?
| Business line | Competitor | Type | Why it competes |
|---|---|---|---|
| Home region: Hawaii and the West Pacific | First Hawaiian Bank | Bank | Hawaii's other large bank: 32.1% of Hawaii bank deposits against Bank of Hawaii's 34.5% (FDIC, June 30, 2025), with 45 Hawaii branches plus 3 in Guam and 1 in Saipan, the West Pacific islands where Bank of Hawaii opened a regional headquarters in Guam.[2][3][9] |
| Home region: Hawaii and the West Pacific | American Savings Bank | Bank | The third-largest holder of Hawaii bank deposits, with 14.2% at June 30, 2025, down from 18.2% in 2005, on the FDIC figures in Bank of Hawaii's Q2 2026 deck. Hawaiian Electric Industries sold 90.1% of it on December 31, 2024, and it listed on the New York Stock Exchange as American Savings Bank, N.A. after an IPO on September 16, 2026; it managed $9.3 billion of assets at the end of 2024.[2][10][11] |
| Home region: Hawaii and the West Pacific | Central Pacific Bank | Bank | Ranked the fourth-largest depository institution in Hawaii by deposit market share at December 31, 2025, with 27 branches and 55 ATMs across the state; its 10-K says it competes on personal relationships, superior customer service and 'robust digital banking capabilities'. Its share was 11.6% in June 2025.[4][2] |
| Home region: Hawaii and the West Pacific | Territorial Savings (Bank of Hope) | Bank | Bank of Hope bought Honolulu's Territorial Bancorp for $78.6 million in April 2025 and runs 28 Territorial Savings branches in Hawaii; Territorial held 3.0% of Hawaii bank deposits in June 2025.[5][6][2] |
| Home region: Hawaii and the West Pacific | Mechanics Bank | Bank | Mechanics operated 166 branches across California, Oregon, Washington and Hawaii at December 31, 2025 after absorbing HomeStreet, and its 10-K says banking in those states 'has remained competitive' and that it expects competition to increase further.[12] |
| Retail deposits, checking and everyday digital banking | HawaiiUSA Federal Credit Union | Credit union | Bank of Hawaii's 10-K names credit unions among its competitors for deposits and loans and says some rivals may benefit from tax exemptions. HawaiiUSA's CEO told Hawaii Business in June 2026 that banks and credit unions offer similar products, 'like digital banking, cards, loans and payments', and that members choose institutions that feel safe and community-rooted as fintech grows.[1][13] |
| Retail deposits, checking and everyday digital banking | Hawaii State Federal Credit Union | Credit union | Described by Hawaii Business in June 2026 as having grown from a 1936 basement office into one of the largest credit unions in Hawaii; its CEO says it competes with 'better products and rates, exceptional service' and community commitment, the same local-service ground Bank of Hawaii's 10-K claims.[13][1] |
| Retail deposits, checking and everyday digital banking | Chime | Fintech | A branchless competitor of the kind Bank of Hawaii's 10-K describes as based outside its markets and reaching customers over the Internet; Chime's own 10-K claims a significant cost advantage over traditional banks, and it had 10.4 million active members at June 30, 2026.[1][14][7] |
| Retail deposits, checking and everyday digital banking | Cash App (Block) | Fintech | Block's 2025 10-K lists banks among Cash App's competitors in peer-to-peer payments and debit cards; Cash App had 59 million monthly transacting actives in June 2026. Bank of Hawaii counts 189,700 Zelle customers.[8][15][16] |
| Consumer lending: indirect auto and cards | First Hawaiian Bank | Bank | Both banks lend through car dealers: Bank of Hawaii originates indirect auto loans through dealerships in Hawaii, Guam and Saipan, and First Hawaiian's 10-K describes dealer financing as an area of specific competency and its wholesale dealer relationships as a line it must defend.[1][3] |
| Consumer lending: indirect auto and cards | Captive automotive finance companies | Non-bank lender | First Hawaiian's 2025 10-K names 'the influence that captive automotive finance companies have in the marketplace' and manufacturers' exclusivity privileges as the competition it must counter in dealer finance, a market Bank of Hawaii shares through its indirect auto book.[3][1] |
| Mortgage and home lending | Online mortgage lenders and brokers | Non-bank lender | Residential mortgages are Bank of Hawaii's largest loan category, and Central Pacific's 2025 10-K says competition in Hawaii 'also includes online mortgage lenders and brokers operating through digital platforms'; Bank of Hawaii's own 10-K names mortgage companies among its competitors.[1][4] |
| Mortgage and home lending | Central Pacific Bank | Bank | About 80% of Central Pacific's loan portfolio was real-estate related at December 31, 2025, including residential mortgages and home equity loans, the same products that make up the core of Bank of Hawaii's consumer book.[4][1] |
| Small business banking and merchant services | Square (Block) | Payments company | Block's 10-K lists 'banks that provide payment processing, checking, savings, loans, and payroll' among Square's competitors; Bank of Hawaii's 10-K names non-traditional providers of financial services among its rivals, and its consumer segment offers small business loans and leases.[8][1] |
| Small business banking and merchant services | First Hawaiian Bank | Bank | First Hawaiian's 10-K lists merchant processing services alongside deposit and lending products for commercial and consumer customers, and its Retail Banking segment serves small businesses across the same islands.[3] |
| Commercial banking and commercial real estate | Mainland banks and private credit | Non-bank lender | First Hawaiian's 2025 10-K says 'certain large banks headquartered on the U.S. mainland and large community banking institutions target the same customers we do', and names private credit and direct lenders as a growing alternative; Bank of Hawaii's 10-K notes laws that let out-of-state banks open branches in its territories.[3][1] |
| Commercial banking and commercial real estate | Central Pacific Bank | Bank | Central Pacific's 10-K says it competes for loans, deposits and customers with a broad range of providers in Hawaii and that many competitors are significantly larger; its book is concentrated in commercial and residential real estate, as Bank of Hawaii's is.[4][1] |
| Wealth management, trust and brokerage | First Hawaiian (Bishop Street Capital Management) | Bank | First Hawaiian offers insurance, investment and trust products through the bank and its SEC-registered adviser Bishop Street Capital Management; Bank of Hawaii's private banking, trust and investment management groups serve the same high-net-worth clients.[3][1] |
| Wealth management, trust and brokerage | Charles Schwab | Broker or asset manager | Bank of Hawaii's 10-K names brokerage firms and mutual funds among its competitors and warns that market moves can lead clients to move investments to other institutions; Schwab reported $120 billion of core net new assets in Q2 2026.[1][17] |
How do the AI and digital offerings of Bank of Hawaii's competitors compare?
Bank of Hawaii first, then each competitor. Use-case counts, index scores and latest moves are computed from our profiles of each company; "No profile" means this site has no page on it yet.
| Company | AI or digital offering | On the record (our profiles) | Latest dated AI move |
|---|---|---|---|
| Bank of Hawaii Corporation (this page) | Not disclosed | Index 37.8 (#77); 15 use cases, 11 in production | Second-quarter 2026 10-Q: AI risk factor only (Jul 28, 2026)[18] |
| First Hawaiian Bank | Zest AI credit-card underwriting (automated decisions 4% to 55%, vendor-reported); AI programme led by EVP Jason Dang[19][20] | Index 47.2 (#62); 16 use cases, 12 in production | TriCo Integration Management Office established (Aug 14, 2026)[21] |
| American Savings Bank | Not disclosed | No profile | Not disclosed |
| Central Pacific Bank | Not disclosed | No profile | Not disclosed |
| Territorial Savings (Bank of Hope) | Not disclosed | Index 2.1 (#114); 8 use cases, 6 in production | SMBC MANUBANK commercial banking unit acquisition completed (Oct 1, 2026)[22][23] |
| Mechanics Bank | Not disclosed | Index 2.3 (#112); 10 use cases, 7 in production | Runoff auto portfolio sold to Bank of America (Sep 16, 2026)[24] |
| HawaiiUSA Federal Credit Union | Not disclosed | No profile | Not disclosed |
| Hawaii State Federal Credit Union | Not disclosed | No profile | Not disclosed |
| Chime | Jade, an in-app AI financial partner available to some members[25] | 8 use cases, 6 in production | Agreement to acquire Stride Bank (Sep 8, 2026)[26] |
| Cash App (Block) | Moneybot consumer agent: over 1 million weekly engaged accounts (June 30, 2026)[15] | 7 use cases, 6 in production | Q2 2026: Moneybot passes 1 million weekly engaged accounts (Aug 5, 2026)[15] |
| Captive automotive finance companies | Not disclosed | No profile | Not disclosed |
| Online mortgage lenders and brokers | Not disclosed | No profile | Not disclosed |
| Square (Block) | Managerbot, an AI business agent for Square sellers[27] | 7 use cases, 6 in production | Q2 2026: Moneybot passes 1 million weekly engaged accounts (Aug 5, 2026)[15] |
| Mainland banks and private credit | Not disclosed | No profile | Not disclosed |
| First Hawaiian (Bishop Street Capital Management) | Not disclosed | Index 47.2 (#62); 16 use cases, 12 in production | TriCo Integration Management Office established (Aug 14, 2026)[21] |
| Charles Schwab | Portfolio Insights generative-AI summaries for all self-directed US retail clients (May 2026)[28] | Index 80.7 (#19); 19 use cases, 15 in production | How Charley was built: employee testing, confirmation before any change (Oct 8, 2026)[29] |
Who should look beyond Bank of Hawaii, and where?
| If you are | Look at | Why |
|---|---|---|
| People who need branches on the US mainland | First Hawaiian (after the TriCo deal) or a national bank such as JPMorgan Chase | Bank of Hawaii's 51 branches are in Hawaii and the West Pacific, and only 2% of its loans are to the US mainland (June 30, 2026). First Hawaiian agreed in July 2026 to buy TriCo, adding 68 branches in Northern and Central California; Chase reported 5,083 branches in 2025.[1][2][30][31] |
| Customers who want an AI assistant inside the banking app | Bank of America (Erica) or Wells Fargo (Fargo) | Bank of Hawaii has no customer AI assistant; call-center AI was a use case in progress in April 2026. Bank of America says Erica helps more than 24.6 million clients, and Wells Fargo's Fargo passed 1 billion interactions in March 2026.[32][33][34] |
| Customers who want a branchless, app-only checking account | Chime | Bank of Hawaii's 10-K credits its extensive branch network for its competitive advantage. Chime's model avoids branches and ATMs, it had 10.4 million active members at June 30, 2026, and some members can use Jade, its in-app AI financial partner.[1][14][7][25] |
| People who prefer a member-owned institution to a shareholder-owned bank | Hawaii credit unions such as HawaiiUSA FCU or Hawaii State FCU | Bank of Hawaii is a listed bank holding company. Hawaii's large credit unions are member-owned nonprofits; HawaiiUSA's CEO says success there is 'measured by member outcomes' rather than shareholder returns, and both offer digital banking, cards, loans and payments (Hawaii Business, June 2026).[1][13] |
| Borrowers who want an automated, AI-scored credit card decision | First Hawaiian Bank | First Hawaiian's Zest AI model decides most card applications automatically: 55% of applications, up from 4%, with instant approvals at 40% (vendor-reported, June 2025). Bank of Hawaii discloses no AI in underwriting.[19][32] |
| Sellers who want card acceptance and point-of-sale software from one provider | Square (Block) | Block's 10-K lists point-of-sale software providers and banks among the competitors of its Square ecosystem, and Square sellers can use Managerbot, an AI business agent. Bank of Hawaii sells deposit, loan and lease products to small businesses through its consumer segment.[8][27][1] |
How do the AI records of Bank of Hawaii's Hawaii rivals compare?
What each Hawaii competitor with a record on this site or in its filings has disclosed about AI.
| Bank | AI on the record | Source date |
|---|---|---|
| Bank of Hawaii | Copilot for all employees; 60 AI Ambassadors; AI Development Center; governance framework with ethical review | March 2026[16] |
| First Hawaiian | Zest AI underwriting in production; AI programme owner named; generative-AI usage policies | June 2025 to July 2026[19][20][35] |
| Bank of Hope (Territorial) | Board AI acceptable-use policy limiting AI until vetted; no AI use case disclosed | April 2026[36] |
| Central Pacific | Its 10-K cites robust digital banking capabilities and warns of fintech and digital-wallet disintermediation | February 2026[4] |
Who are Bank of Hawaii's biggest competitors?
First Hawaiian Bank above all: the two hold 34.5% and 32.1% of Hawaii bank deposits (FDIC, June 30, 2025). American Savings Bank (14.2%), Central Pacific (11.6%) and Territorial, now owned by Bank of Hope (3.0%), follow. The 10-K also names credit unions, mortgage and finance companies, brokerages, insurers and fintech companies.[2][5][1]
Is First Hawaiian bigger than Bank of Hawaii?
By Hawaii deposits, no: Bank of Hawaii held 34.5% of the state's bank deposits and First Hawaiian 32.1% at June 30, 2025. By branches the two are close, 51 locations for Bank of Hawaii and 49 for First Hawaiian, but First Hawaiian's TriCo deal would take it to 113 branches and $34 billion of assets.[2][1][3][30]
Is Chime a competitor of Bank of Hawaii?
By category, yes. Bank of Hawaii's 10-K says some competitors reach customers over the Internet from outside its markets and lists financial technology companies among its rivals; Chime's 10-K claims a cost advantage over traditional banks, and it had 10.4 million active members at June 30, 2026. Neither company names the other.[1][14][7]
Who competes with Bank of Hawaii in Guam and Saipan?
First Hawaiian is the rival with a page on this site: it operates three branches in Guam and one in Saipan (December 31, 2025). Bank of Hawaii serves Guam and other Pacific islands, originates indirect auto loans through dealers in Guam and Saipan, and opened a West Pacific headquarters in Guam in 2025.[3][1][9]
What are alternatives to Bank of Hawaii for small business banking?
First Hawaiian offers merchant processing alongside deposits and loans, and Central Pacific says it competes on relationships and digital banking. Square sells payments, point-of-sale software and banking products to sellers and lists banks among its competitors. Bank of Hawaii serves small businesses through its consumer segment with loans, leases and deposits.[3][4][8][1]
Does Bank of Hawaii compete with Bank of Hope?
In Hawaii, yes, since Bank of Hope bought Territorial Bancorp for $78.6 million in April 2025. It now runs 28 Territorial Savings branches in the state, and Territorial held 3.0% of Hawaii bank deposits in June 2025. Bank of Hope's board policy limits AI use until tools are vetted.[5][6][2][36]
Is American Savings Bank a competitor of Bank of Hawaii?
Yes, it is the third-largest holder of Hawaii bank deposits, with 14.2% at June 30, 2025 against Bank of Hawaii's 34.5%. Hawaiian Electric Industries sold 90.1% of American Savings Bank on December 31, 2024, and the bank listed on the New York Stock Exchange after its IPO on September 16, 2026.[2][10]
Do credit unions compete with Bank of Hawaii?
Yes. Bank of Hawaii's 10-K names credit unions among its competitors and notes that some rivals benefit from tax exemptions. HawaiiUSA FCU and Hawaii State FCU, two of the state's largest, told Hawaii Business in June 2026 that they offer digital banking, cards, loans and payments like banks but answer to members rather than shareholders.[1][13]
How has Bank of Hawaii's market share changed over time?
It has grown more than any local rival. On the FDIC figures in its Q2 2026 deck, Bank of Hawaii's share of Hawaii bank deposits rose from 28.3% in 2005 to 34.5% in 2025, First Hawaiian's from 30.5% to 32.1%, while American Savings fell from 18.2% to 14.2% and Central Pacific from 14.4% to 11.6%.[2]
- Bank of Hawaii Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Bank of Hawai'i Corporation second quarter 2026 earnings presentation (Form 8-K, Exhibit 99.2)
- First Hawaiian, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Central Pacific Financial Corp. Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Hope Bancorp closes drawn-out deal to buy Hawaii bank
- Bank of Hope Receives Regulatory Approvals to Acquire the Commercial Banking Unit of SMBC MANUBANK
- Chime Reports Second Quarter 2026 Financial Results
- Block, Inc. Annual Report 2025 (Form 10-K)
- Bank of Hawaii Shareholders Re-Elect Directors, Approve Pay and EY as Auditor at Virtual AGM
- HEI begins monetizing ASB shares, enabling advance funding of Maui wildfire settlement (Form 8-K, Exhibit 99)
- Ann Teranishi at the Helm of American Savings Bank's Most Pivotal Era
- Mechanics Bancorp Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Hawai'i Credit Union Report 2026
- Chime Financial, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Q2 2026 Shareholder Letter (Exhibit 99.1 to Form 8-K)
- Bank of Hawai‘i Corporation 2025 Annual Report (Form ARS)
- Schwab Reports Record Quarterly Revenue and Earnings
- Bank of Hawaii Corporation Quarterly Report on Form 10-Q for the quarter ended June 30, 2026
- First Hawaiian Bank says "yes" to AI-automated underwriting (customer success story)
- First Hawaiian Bank Announces Four Promotions and One New Hire
- Form 425: email from Robert Harrison to First Hawaiian Bank employees on TriCo integration
- Bank of Hope Completes Acquisition of the Commercial Banking Unit of SMBC MANUBANK
- Hope Bancorp, Inc. Form 8-K: completion of the SMBC MANUBANK unit acquisition
- Mechanics Bank Completes Sale of Substantial Majority of Runoff Auto Loan Portfolio to Bank of America (Form 8-K, Exhibit 99.1)
- What is Jade Financial Partner? (help centre, retrieved 2026-09-23)
- Chime Announces Agreement to Acquire Stride Bank
- Square Brings Managerbot to More Sellers, Giving Main Street an Intelligent Business Agent
- Charles Schwab Launches AI-Powered Capability That Helps Investors Understand Portfolio Performance and Market Activity
- Charles Schwab's Amy Ruegg: AI Can Make Investing Easier, but Human Expertise Remains Key
- First Hawaiian strikes $2B deal to return to U.S. mainland
- JPMorgan Chase & Co. Annual Report on Form 10-K for the year ended December 31, 2025
- Bank of Hawaii (BOH) Q1 2026 Earnings Transcript
- Bank of America Fast Facts (undated page, retrieved 2026-10-19)
- Wells Fargo Reaches Major Digital Milestones
- Agreement and Plan of Reorganization and Merger by and among First Hawaiian, Inc., TriCo Bancshares and Horizon Merger Sub, Inc. (Form 8-K, Exhibit 2.1)
- Hope Bancorp, Inc. 2026 Proxy Statement (Schedule 14A)
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