Top Largest Banks in Hawaii

Hawaii, with its unique location in the Pacific Ocean, has a banking landscape that reflects both its historical ties to the U.S. mainland and its distinct local culture. The financial sector in Hawaii is primarily driven by a few large banks, each offering a range of personal, commercial, and private banking services to cater to the diverse needs of its residents, businesses, and tourists. Among the largest and most prominent of these banks are First Hawaiian Bank, American Savings Bank, Bank of Hawaii, and Central Pacific Bank. These institutions have deep historical roots in the islands, with a commitment to serving the local community while also maintaining strong connections to the broader financial system. Each of these banks has played a crucial role in Hawaii’s economic development and continues to be a key player in the state’s financial services sector.

First Hawaiian Bank, founded in 1858, is the oldest and largest bank in Hawaii, a testament to its longevity and stability. As a full-service bank, it offers a wide array of personal, private, and business banking services, positioning itself as the primary bank for many Hawaii residents. From equipment leasing to mortgage and commercial lending, automobile financing, merchant services, and trust management, First Hawaiian Bank is a comprehensive financial institution that serves individuals, businesses, and even government entities across the islands. Its vast array of offerings also includes insurance, wealth management, and retirement planning, making it one of the most trusted names in Hawaii’s banking sector.

First Hawaiian Bank’s long-standing presence in Hawaii means that it has an intimate understanding of the local economy and the specific financial needs of its residents. Whether it is helping a family secure a home loan or working with a business to finance new equipment or expand operations, the bank’s services are tailored to meet the needs of Hawaii’s diverse population. Its expertise in mortgage lending is particularly notable, as it helps local residents navigate the challenges of purchasing homes in one of the most expensive real estate markets in the U.S. Additionally, the bank’s commercial lending division plays a significant role in supporting local businesses, from small start-ups to large enterprises, helping to fuel economic growth in Hawaii.

As the largest bank in the state, First Hawaiian Bank has earned a reputation for financial stability and reliability. It is consistently ranked among the top banks in the U.S. based on its assets and overall performance. Over the years, it has expanded its reach beyond the islands, establishing a presence in mainland markets as well. However, despite its national reach, the bank remains deeply committed to the people and businesses of Hawaii. This balance between national and local service has allowed First Hawaiian Bank to thrive in an increasingly competitive and complex financial environment.

Another prominent player in Hawaii’s banking sector is American Savings Bank, which is one of the state’s largest financial institutions, with a network of branches and ATMs spread throughout the islands. American Savings Bank offers a comprehensive suite of financial services, including commercial and personal banking, insurance, and investment products. The bank’s commitment to serving the Hawaii community is reflected in its wide-ranging offerings, which are designed to meet the diverse needs of individuals, families, and businesses alike.

For personal banking customers, American Savings Bank provides traditional services such as checking and savings accounts, credit cards, and home loans, along with more specialized products like auto loans, personal lines of credit, and insurance options. Its focus on providing products that address the specific needs of Hawaii residents, whether they are saving for retirement, buying a home, or securing a loan for a new car, has made it a trusted partner for many families. Moreover, its wealth management services, including investment planning and retirement solutions, have attracted a broad clientele of individuals seeking to secure their financial futures.

On the business side, American Savings Bank provides a wide range of services to support small and medium-sized enterprises (SMEs) in Hawaii. From commercial loans and lines of credit to cash management services and merchant banking solutions, the bank offers businesses the financial tools they need to grow and thrive in a competitive market. The bank’s strong ties to the local business community make it a valuable resource for entrepreneurs and business owners seeking a financial partner that understands the unique challenges of doing business in Hawaii.

American Savings Bank has also been recognized for its strong financial performance and commitment to innovation. It has continuously adapted to the evolving needs of its customers, investing in technology and expanding its online and mobile banking offerings to provide greater convenience and access to financial services. The bank’s efforts to remain technologically advanced, while still maintaining a focus on personal customer service, have helped it maintain a strong position in Hawaii’s competitive banking market.

Bank of Hawaii, established in 1897, is another key player in the Hawaiian banking landscape. It is a full-service financial institution that offers a wide variety of services to individuals, businesses, and institutions. Bank of Hawaii has built a strong reputation for its financial health and stability, earning numerous accolades for its performance over the years. In 2008, for example, it was named the top-performing bank in the U.S. by the American Bankers Association Banking Journal. Forbes Magazine also recognized Bank of Hawaii as "America’s Best Bank" in 2008, a testament to its strength and financial health.

What distinguishes Bank of Hawaii from other banks in the state is its ability to combine local expertise with a global perspective. While the bank remains deeply embedded in the local community, it also has the resources and capabilities of a larger, more nationally focused institution. The bank offers personal banking services, including savings and checking accounts, mortgages, and home equity lines of credit, as well as business banking services such as commercial loans, credit lines, and merchant services. Its private banking division is particularly well-regarded, providing wealth management services to high-net-worth individuals and families, as well as trust and estate planning services.

Bank of Hawaii’s focus on financial stability and customer satisfaction has helped it to maintain a strong standing in both the local and national banking markets. It is one of the few banks in the state that has been recognized for its performance on a national level, which underscores its reputation for financial strength and sound management. The bank’s continued success is rooted in its deep understanding of Hawaii’s economic landscape and its ability to provide tailored solutions to meet the specific needs of local residents, businesses, and institutions.

Central Pacific Bank, founded in 1954, is the fourth-largest financial institution in Hawaii and offers a range of personal and commercial banking services. While it is smaller than some of the other major banks in the state, Central Pacific Bank has nevertheless earned a reputation for its high level of customer service and its commitment to meeting the needs of Hawaii’s diverse population. Like many of its larger counterparts, Central Pacific Bank offers traditional banking services such as checking and savings accounts, personal loans, and mortgages. It also provides business banking services, including commercial loans and lines of credit, as well as specialized services such as merchant banking and treasury management solutions.

Central Pacific Bank has a strong focus on community involvement, frequently supporting local charities and organizations through charitable donations and volunteer work. This community-oriented approach has helped the bank build strong relationships with its customers and establish a loyal client base. Its personalized service, coupled with its broad range of financial products, has made it a trusted partner for many businesses and families in Hawaii.

While each of these banks—First Hawaiian Bank, American Savings Bank, Bank of Hawaii, and Central Pacific Bank—has its own unique history and offerings, they all share a commitment to serving the people of Hawaii and helping to foster economic growth in the state. Through their diverse range of financial services, these institutions help individuals achieve their financial goals, businesses secure the capital they need to grow, and communities thrive. As Hawaii continues to evolve and face new economic challenges, these banks will remain central to the financial stability and prosperity of the islands.