Bank Of Hawaii

Bank Of Hawaii was founded in 1897 in Honolulu, Hawaii.  Today it is owned by the Bank of Hawaii Corporation and is Hawaii’s largest locally owned bank (the majority of voting stockholders reside in Hawaii). It is Hawaii’s second oldest bank and has the more accounts, customers, branches and ATMs than any bank in the state.  Bank of Hawaii serves businesses, consumers and even governments in Hawaii, American Samoa and the West Pacific.  Allan R. Landon is its Chairman and Chief Executive Officer and Richard C. Keene is Vice Chairman and Chief Financial Officer.  Bank of Hawaii Corporation has $9766 millions in assets and posted a pretax earning of $271 million in 2005.

Bank of Hawaii Corporation’s governing objective is “maximizing shareholder value over time”.  They claim vigilance in employing sound corporate governance practices. 

Bank of Hawaii Mortgage Options

Bank of Hawaii Corporation has many loan options.  Their first time buyers program features reduced closing costs, lower down payment requirements, flexible qualifying guidelines, no prepayment penalty, and fixed or adjustable rates.  Qualifying properties are one-unit single family primary residences and condos on the Bank of Hawaii’s approved list.  First time buyers may also be eligible for the 100% mortgage program.  Bank of Hawaii has an InterestFirst loan option where only the interest is paid for the initial term of the loan.  When the initial term passes the buyer then begins to pay down the loan balance.  This may help the potential buyer qualify for a larger loan amount. 

Bank of Hawaii offer fixed rate (the interest rate stays the same for the life of the loan) mortgages.  Adjustable rate mortgages are also offered.  In this type of loan the interest rate stays fixed for a certain term and then reflects the market rate.  These are offered in 1, 3, 5 or 7 year terms.  Bank of Hawaii also funds FHA loans.  These are insured by the Federal Housing Authority  and generally have less strident requirements than conventional loans.  Bank of Hawaii offers the single close construction loan  which allows you to turn your construction loan into a mortgage upon completion of construction without having to undergo more closing costs.   Jumbo loans are available from $539,476 to $650,001 and a Super Jumbo from $650,001 to 2,000,000.  Properties eligible for Jumbo loans are 1 to 4 unit properties.  Home equity lines of credit and refinancing services are also offered.

Bank of Hawaii knows its market and strives to aid the customer in getting the best loan available for him. 

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