¹ Eligibility

To be eligible for a new checking account bonus, you must open a new Convenience or Bankohana Level II or III Checking account (“Account”) and meet the respective requirements outlined in the table below. See the Initial Opening Deposit and Qualifying Direct Deposits sections below for the definition of an Initial Opening Deposit and Qualifying Direct Deposits.

Table 1

New Checking Account	Opened on or after…	…via	… with Initial Opening Deposit of…	… and have Qualifying Direct Deposits of…	… are eligible to receive a bonus amount of
Convenience Checking	5/28/2024 HST	Online	$500	$2,000	$100
Bankohana Level II or Level III Checking	3/11/2024 HST	Online OR In Branch	$500	$3,500	$400

 

A new Account must be opened. Changing an existing checking account product type will not qualify for any of the bonus offers.  The Account open date is considered day 1.  For Accounts opened on the weekend or a federal holiday, the next business day is considered your Account open date. 

If qualifications are met, a bonus will be applied directly to your Account within 120 days of your Account’s open date. Your Account must remain open and be in good standing (e.g. not overdrawn or charged off, etc.) at the time of the bonus award. If your Account type is changed or if your Account is closed before the bonus is awarded, you will not receive the bonus. Limit one checking bonus per Account per customer.  If a checking Account is jointly owned and qualifies for the bonus, we consider the award as being granted to both owners and will satisfy the limit of one checking bonus per customer.  This offer cannot be combined with other checking promotions. Offer is subject to change or end without prior notice.

Initial Opening Deposit

An Initial Opening Deposit is defined as the deposit made during the account opening application process. Any deposits made after the account opening process is completed are not considered as part of your Initial Opening Deposit, even if transactions are made on the same day as account opening. Although the minimum deposit to open a Convenience Checking account is $25, a higher Initial Opening Deposit of $500 is required to qualify for the Convenience Checking bonus. See Table 1 above. Your Initial Opening Deposit does not count towards the Qualifying Direct Deposits requirement.  

Qualifying Direct Deposits

Qualifying Direct Deposits are defined as certain incoming ACH credits posted to your account, which can include electronic deposits made from your employer or another payer, such as your salary, pension, or Social Security benefits. The deposit method is determined by the sender of the credit, and Bank of Hawaii (“the Bank”) will rely on this information to determine a Qualifying Direct Deposit. The Bank has sole discretion to determine what a Qualifying Direct Deposit is for purposes of this promotion.

The following types of transactions are examples of what are NOT considered Qualifying Direct Deposits:

• All Initial Opening Deposits of checking accounts
• Peer-to-peer transfers processed as an ACH credit (such as Venmo, PayPal, etc.)
• Zelle transfers
• Deposits made at a teller, ATM, or through the Bank of Hawaii mobile app
• Internal transfers from another Bank of Hawaii account
• Incoming wires

If you fail to meet the Qualifying Direct Deposits requirement within 60 days from Account opening, you will not receive the bonus.

1099 Issuance

A 1099-INT form will be issued from Bank of Hawaii to the primary accountholder for the value of bonus applied to your Account. You are responsible for any and all taxes and fees associated with the credit awarded from this promotion.

About Your Checking Account

Checking Account Type	Minimum Deposit to Open	Monthly Service Fee	Minimum Balance to Earn APY	Variable APY
Convenience	$25	$5 (Or waived with Minimum average daily Ledger Balance of $500 or total minimum monthly Direct Deposits of $500. The average daily Ledger Balance will appear on your statement as “Average balance")	N/A	N/A
Bankohana Level II	$500	$25 (or waived with Combined Balance of $20,000)	$1	0.01%
			$50,000	0.02%
Bankohana Level III	$500	$30 (or waived with Combined Balance of $50,000)	$1	0.01%
			$50,000	0.02%

 

The variable Annual Percentage Yields (APYs) are as of 1/29/2025 for State of Hawaii and 1/30/2025 for Saipan, Guam, and Palau and can change at any time. Fees may reduce earnings. Convenience Checking accounts closed within 180 days of account opening will be assessed an early closing fee of $40. Bankohana Accounts closed within 180 days will be assessed an early closing fee of $70.

For further details on these accounts, please see the Outline of Basic Terms & Conditions, Consumer Checking and Savings Account Fee Schedule, and Bankohana Addendum available at a branch or at boh.com/agreements.

 

² This offer is valid for new Regular Savings, Bonus Rate Savings, or Bankohana Bonus Rate Savings accounts opened through 6/30/2025. Thereafter subject to change without prior notice. To qualify for the bonus, make your $5,000 in deposit(s) directly to the new Account in the form of a personal or official check from another financial institution, an incoming wire, ACH credit, Online Banking external transfer, or external funding of a new Account opened through boh.com within 30 days of account opening. You will be required to maintain a Daily Account Balance of at least $5,000 every day from Day 31 through Day 150 after Account opening ("Maintenance Period") to qualify for the bonus. If your Daily Account Balance falls below the required $5,000 minimum for even one (1) business day during the Maintenance Period, you will not receive the bonus.

The variable Annual Percentage Yields (APYs) are as of 5/1/2025 for State of Hawaii and 5/2/2025 for Saipan, Guam, and Palau and can change at any time. Fees may reduce earnings. Accounts closed within 180 days of account opening will be assessed an early closing fee of $40.

Savings Account Type	Minimum Balance* to Open	Monthly Service Fee	Minimum Balance to Earn APY	Interest Rate	APY	Bonus Interest Rate‡	Combined APY
Regular Savings	$100	$5†	$1	0.01%	0.01%	None	None
Bonus Rate Savings	$100	$5§	$1	0.01%	0.01%	0.02%	0.03%
			$10,000	0.01%	0.01%	0.02%	0.03%
			$25,000	0.01%	0.01%	0.02%	0.03%
			$100,000	0.02%	0.02%	0.02%	0.04%
Bankohana Bonus Rate Savings#	$100	None	$1	0.02%	0.02%	0.02%	0.04%
			$10,000	0.02%	0.02%	0.02%	0.04%
			$25,000	0.02%	0.02%	0.02%	0.04%
			$100,000	0.03%	0.03%	0.02%	0.05%

 

^* Although the minimum balance to open each account is $100, a higher deposit(s) of $5,000 is required to qualify for the bonus. Please note however that the $100 minimum balance to open your account may qualify toward your total deposit requirement.

^† Regular Savings Monthly Service Fee waived when you meet a minimum Daily Ledger Balance of $300.

^‡ The bonus interest rate and the combined APY are contingent upon making a minimum monthly deposit of $25 and no withdrawals during monthly cycle.

^§ Bonus Rate Savings Monthly Service Fee waived when you meet a minimum daily Ledger Balance of $500 or minimum monthly deposit of $25 and no withdrawals during monthly cycle.

^# To open a Bankohana Bonus Rate Savings account, a Bankohana Checking account is required and can be opened with a minimum deposit of $500 at the time of savings account opening.

 

³ If all qualifications are met, a bonus of $200 will be applied directly to your Account within 30 days. Your Account must remain open and be in good standing at the time of the bonus award. A 1099-INT form will be issued from Bank of Hawaii to the primary accountholder for the value of the bonus applied to your Account. Limit one savings bonus per Account per customer. If a savings account is jointly owned and qualifies for the bonus, we consider the award as being granted to both owners.  This offer cannot be combined with other savings promotions.