Form 8-K

8-K — BANK OF HAWAII CORP

Accession: 0000046195-26-000032

Filed: 2026-04-20

Period: 2026-04-20

CIK: 0000046195

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — boh-20260420.htm (Primary)

EX-99.1 (ex991earningsrelease033126.htm)

EX-99.2 (boh1q26earningsslides.htm)

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8-K

8-K (Primary)

Filename: boh-20260420.htm · Sequence: 1

boh-20260420

false000004619500000461952026-04-202026-04-200000046195us-gaap:CommonStockMember2026-04-202026-04-200000046195us-gaap:SeriesAPreferredStockMember2026-04-202026-04-200000046195us-gaap:SeriesBPreferredStockMember2026-04-202026-04-20

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 April 20, 2026

(Date of earliest event reported)

BANK OF HAWAII CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 1-6887 99-0148992

(State of Incorporation) (Commission File Number) (IRS Employer Identification No.)

130 Merchant Street Honolulu Hawaii 96813

(Address of principal executive offices) (City) (State) (Zip Code)

(888) 643-3888

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, par value $0.01 per share BOH New York Stock Exchange

Depository Shares, Each Representing 1/40th Interest in a Share of 4.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A

BOH.PRA New York Stock Exchange

Depository Shares, Each Representing 1/40th Interest in a Share of 8.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B

BOH.PRB New York Stock Exchange

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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.Results of Operations and Financial Condition.

On April 20, 2026, Bank of Hawaii Corporation announced its results of operations for the quarter ended March 31, 2026. 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

April 20, 2026 Press Release: Bank of Hawaii Corporation First Quarter 2026 Financial Results. Any internet addresses provided in this release are for informational purposes only and are not intended to be hyperlinks. Furnished herewith.

99.2

Bank of Hawaii Corporation First Quarter 2026 Financial Report

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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: April 20, 2026

Bank of Hawaii Corporation

By: /s/ Patrick M. McGuirk

Patrick M. McGuirk

Vice Chair and Chief Administrative Officer

EX-99.1

EX-99.1

Filename: ex991earningsrelease033126.htm · Sequence: 2

Document

Exhibit 99.1

Bank of Hawai‘i Corporation First Quarter 2026 Financial Results

•Diluted Earnings Per Common Share of $1.30

•Net Income of $57.4 Million

•Net Interest Margin Increased to 2.74%, a 13 Basis Point Improvement

•Quarterly Cost of Deposits Decreased to 1.26%, a 17 Basis Point Improvement

•Share Repurchases of $15.1 Million

FOR IMMEDIATE RELEASE

HONOLULU, HI (April 20, 2026) -- Bank of Hawai‘i Corporation (NYSE: BOH) (the “Company”) today reported diluted earnings per common share of $1.30 for the first quarter of 2026, compared with $1.39 during the linked quarter. Net income for the quarter was $57.4 million, down 5.7% from the linked quarter. The return on average common equity for the first quarter of 2026 was 13.90% compared with 15.03% during the linked quarter.

“Bank of Hawai‘i began the year on firm footing,” said Jim Polk, President and CEO. “This performance underscores the strength and resilience of our franchise. Net interest income and net interest margin continued to improve, supported by disciplined balance sheet management and a stable deposit base. Total loans and leases and average noninterest-bearing deposits increased compared to the prior quarter. Credit quality continues to be strong, and we remain focused on expense management. As I step into this role, we are committed to executing our strategy, supporting our customers and communities, and building on our strong, established foundation.”

Financial Highlights

Net interest income for the first quarter of 2026 was $151.0 million, an increase of 3.9% from the linked quarter. The increase was primarily driven by a 22 basis point decline in our interest‑bearing deposit rates following the FOMC interest rate cuts in late 2025, partially offset by a 4 basis point decline in earning asset yields as floating-rate assets repriced down more than the benefit from fixed-rate assets rolling off and being reinvested at higher rates (fixed asset repricing).

Net interest margin was 2.74% in the first quarter of 2026, an increase of 13 basis points from the linked quarter, reflecting the same deposit cost and asset yield dynamics as previously mentioned.

The average yield on total earning assets was 4.03% and the average yield on loans and leases was 4.75% in the first quarter of 2026, down 4 basis points and 6 basis points, respectively, from the linked quarter. As discussed above, the decrease in loan yield from the linked quarter was primarily driven by floating-rate assets repricing to lower current interest rates, partially offset by fixed asset repricing.

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Bank of Hawai‘i Corporation First Quarter 2026 Financial Results

Page 2

The average rate of interest-bearing deposits was 1.72% and the average quarterly rate of total deposits, including noninterest-bearing deposits, was 1.26%, down 22 basis points and 17 basis points, respectively, from the linked quarter. As discussed above, the decreases were primarily due to the repricing down of our interest-bearing deposits following the FOMC interest rate cuts in late 2025. The deposit beta for the downward rate cycle was 36% as of the first quarter of 2026.

Noninterest income was $41.3 million in the first quarter of 2026, a decrease of 6.6% from the linked quarter. Noninterest income in the first quarter of 2026 included a $0.2 million charge related to a Visa Class B share conversion ratio change. Noninterest income in the linked quarter included an $18.1 million gain related to the sale of our merchant services portfolio, a $16.8 million loss on the sale of investments, and a $0.8 million charge related to a Visa Class B share conversion ratio change. Adjusted for these items, noninterest income for the first quarter of 2026 was down 5.1% from the linked quarter. The decrease was primarily due to decreases in other loan fees, which were elevated in the fourth quarter of 2025, as well as lower swap fees and trust and management fees, partially offset by higher BOLI income and annuity and insurance fees.

Noninterest expense was $116.1 million in the first quarter of 2026, an increase of 6.0% from the linked quarter. Noninterest expense in the first quarter included $3.5 million in expenses related to the accelerated vesting of restricted stock awards pursuant to the retirement provision of performance-based restricted stock granted in 2024 and 2025 and $0.7 million in separation expenses. Noninterest expense in the linked quarter included a $1.4 million reduction in our FDIC special assessment charge and a $1.1 million donation to the Bank of Hawai‘i Foundation. Adjusted for these items, noninterest expense for the first quarter of 2026 increased by 1.9% from the linked quarter. The increase was primarily due to higher seasonal payroll expenses, net occupancy, equipment expenses, and professional fees, partially offset by lower FDIC insurance and other expenses.

The effective tax rate for the first quarter of 2026 was 22.91% compared to 21.50% during the linked quarter. The higher effective tax rate in the current quarter as compared to the linked quarter was primarily due to lower benefits from certain tax advantaged investments and an increase in tax expense from discrete items.

Asset Quality

The Company’s overall asset quality remained strong during the first quarter of 2026. Provision for credit losses for the first quarter of 2026 was $1.8 million, down $0.8 million from the linked quarter.

Total non-performing assets were $12.1 million at March 31, 2026, down $2.1 million from December 31, 2025. Non-performing assets as a percentage of total loans and leases and foreclosed real estate were 0.09% at the end of the quarter, a decrease of 1 basis point from the linked quarter.

Net loan and lease charge-offs during the first quarter of 2026 were $1.1 million or 3 basis points annualized of total average loans and leases outstanding. Gross charge-offs of $4.1 million were partially offset by gross recoveries of $3.0 million. Compared to the linked quarter, net loan and lease charge-offs decreased by $3.1 million or 9 basis points annualized on total average loans and leases outstanding.

The allowance for credit losses on loans and leases was $147.0 million at March 31, 2026, an increase of $0.2 million from December 31, 2025. The ratio of the allowance for credit losses to total loans and leases outstanding was 1.04% at the end of the quarter, unchanged from December 31, 2025.

Balance Sheet

Total assets were $23.9 billion at March 31, 2026, a decrease of 1.1% from December 31, 2025. The decrease from December 31, 2025 was primarily due to a reduction in cash and cash equivalents, partially offset by increases in available-for-sale securities and loans and leases.

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Bank of Hawai‘i Corporation First Quarter 2026 Financial Results

Page 3

The investment securities portfolio was $7.9 billion at March 31, 2026, an increase of 1.7% from December 31, 2025. The increase was primarily due to the purchases of available-for-sale investment securities, partially offset by the amortization of the portfolio. The investment securities portfolio remains largely comprised of securities issued by U.S. government agencies and U.S. government-sponsored enterprises.

Total loans and leases were $14.2 billion at March 31, 2026, an increase of 0.8% from December 31, 2025. Total commercial loans were $6.2 billion at March 31, 2026, an increase of 2.0% from December 31, 2025. The increase was primarily due to commercial mortgage production. Total consumer loans were $8.0 billion at March 31, 2026, a decrease of 0.1% from December 31, 2025. The decrease was primarily due to amortization and paydowns, partially offset by increased production in the residential mortgage portfolio.

Total deposits were $21.0 billion at March 31, 2026, a decrease of 1.1% from December 31, 2025. Noninterest-bearing deposits made up 27.0% of total deposit balances at March 31, 2026, down from 27.2% at December 31, 2025. Average total deposits were $20.9 billion for the first quarter of 2026, down 0.3% from December 31, 2025.

Capital and Dividends

The Company’s capital levels remain well above regulatory well-capitalized minimums.

The Tier 1 Capital Ratio was 14.40% at March 31, 2026 compared with 14.49% at December 31, 2025. The decrease from December 31, 2025 was due to an increase in risk-weighted assets and share repurchases, as discussed below, partially offset by retained earnings growth. The Tier 1 Leverage Ratio was 8.62% at March 31, 2026, compared with 8.57% at December 31, 2025. The increase from December 31, 2025 was due to a decline in average assets and an increase in retained earnings.

The Company repurchased 194.1 thousand shares of common stock at a total cost of $15.1 million under the share repurchase program in the first quarter of 2026. Total remaining buyback authority under the share repurchase program was $105.9 million at March 31, 2026.

The Company’s Board of Directors declared a quarterly cash dividend of $0.70 per share on the Company’s outstanding common shares. The dividend will be payable on June 12, 2026 to shareholders of record at the close of business on May 29, 2026.

On April 3, 2026, the Company announced that the Board of Directors declared a quarterly dividend payment of $10.94 per share, equivalent to $0.2735 per depositary share, of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, and a quarterly dividend payment of $20.00 per share, equivalent to $0.5000 per depositary share, of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. The depositary shares representing the Series A Preferred Stock and Series B Preferred Stock are traded on the NYSE under the symbol “BOH.PRA” and “BOH.PRB”, respectively. The dividends on the Series A Preferred Stock and Series B Preferred Stock will be payable on May 1, 2026 to shareholders of record of the preferred stock as of the close of business on April 16, 2026.

Conference Call Information

The Company will review its first quarter financial results today at 8:00 a.m. Hawai‘i Time (2:00 p.m. Eastern Time). The live call, including a slide presentation, will be accessible on the investor relations link of Bank of Hawai‘i Corporation's website, www.boh.com. The webcast can be accessed via the link: https://register-conf.media-server.com/register/BI42ddba51d0fa4b6dacb219e80a369fdb. A replay of the conference call will be available for one year beginning at approximately 11:00 a.m. Hawai‘i Time on Monday, April 20, 2026. The replay will be available on the Company's website, www.boh.com.

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Bank of Hawai‘i Corporation First Quarter 2026 Financial Results

Page 4

Investor Announcements

Investors and others should note that the Company intends to announce financial and other information to the Company’s investors using the Company’s investor relations website at https://ir.boh.com, social media channels, press releases, SEC filings and public conference calls and webcasts, all for purposes of complying with the Company’s disclosure obligations under Regulation FD. Accordingly, investors should monitor these channels, as information is updated, and new information is posted.

Forward-Looking Statements

This news release, and other statements made by the Company in connection with it may contain "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties that could cause results to be materially different from expectations. Forecasts of our financial results and condition, expectations for our operations and business prospects, and our assumptions used in those forecasts and expectations are examples of certain of these forward-looking statements. 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 Hawai‘i Corporation's Annual Report on Form 10-K for the year ended December 31, 2025 which was filed with the U.S. Securities and Exchange Commission. These forward-looking statements are not guarantees of future performance and speak only as of the date made, and, except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.

Bank of Hawai‘i Corporation is an independent regional financial services company serving businesses, consumers, and governments in Hawai‘i and the West Pacific. The Company's principal subsidiary, Bank of Hawai‘i, was founded in 1897. For more information about Bank of Hawai‘i Corporation, see the Company’s website, www.boh.com. Bank of Hawai‘i Corporation is a trade name of Bank of Hawaii Corporation.

# # # #

Bank of Hawai‘i Corporation and Subsidiaries

Financial Highlights Table 1

Three Months Ended

(dollars in thousands, except per share amounts) March 31, 2026 December 31, 2025 March 31, 2025

For the Period:

Operating Results

Net Interest Income $ 150,990  $ 145,374  $ 125,807

Provision for Credit Losses 1,750  2,500  3,250

Total Noninterest Income 41,332  44,271  44,058

Total Noninterest Expense 116,071  109,518  110,459

Pre-Provision Net Revenue 76,251  80,127  59,406

Net Income 57,432  60,935  43,985

Net Income Available to Common Shareholders 52,163  55,666  38,716

Basic Earnings Per Common Share 1.32  1.40  0.98

Diluted Earnings Per Common Share 1.30  1.39  0.97

Dividends Declared Per Common Share 0.70  0.70  0.70

Performance Ratios

Return on Average Assets 0.97  % 1.01  % 0.75  %

Return on Average Shareholders' Equity 12.47  13.33  10.65

Return on Average Common Equity 13.90  15.03  11.80

Efficiency Ratio 1

60.35  57.75  65.03

Net Interest Margin 2

2.74  2.61  2.32

Dividend Payout Ratio 3

53.03  50.00  71.43

Average Shareholders' Equity to Average Assets 7.81  7.57  7.09

Average Balances

Average Loans and Leases $ 14,083,875  $ 14,013,532  $ 14,062,173

Average Assets 23,915,334  23,958,401  23,638,068

Average Deposits 20,915,443  20,980,199  20,669,539

Average Shareholders' Equity 1,867,165  1,814,000  1,675,571

Per Share of Common Stock

Book Value $ 38.10  $ 37.92  $ 34.23

Tangible Book Value 37.31  37.12  33.43

Market Value

Closing 74.25  68.37  68.97

High 80.61  71.85  76.00

Low 67.04  59.36  65.82

March 31, 2026 December 31, 2025 March 31, 2025

As of Period End:

Balance Sheet Totals

Loans and Leases $ 14,192,811 $ 14,082,050 $ 14,115,323

Total Assets 23,909,933 24,176,364 23,885,056

Total Deposits 20,957,930 21,188,495 21,008,217

Other Debt 558,150 558,176 558,250

Total Shareholders' Equity 1,854,563 1,851,212 1,704,935

Asset Quality

Non-Performing Assets $ 12,090 $ 14,171 $ 17,451

Allowance for Credit Losses - Loans and Leases 146,962 146,766 147,707

Allowance to Loans and Leases Outstanding 4

1.04  % 1.04  % 1.05  %

Capital Ratios 5

Common Equity Tier 1 Capital Ratio 6

12.06  % 12.14  % 11.58  %

Tier 1 Capital Ratio 14.40  14.49  13.93

Total Capital Ratio 15.44  15.54  14.97

Tier 1 Leverage Ratio 8.62  8.57  8.36

Total Shareholders' Equity to Total Assets 7.76  7.66  7.14

Tangible Common Equity to Tangible Assets 7

6.19  6.11  5.57

Tangible Common Equity to Risk-Weighted Assets 7

10.28  10.35  9.28

Non-Financial Data

Full-Time Equivalent Employees 1,866  1,877  1,876

Branches 52  51  50

ATMs 319  320  316

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 common share divided by basic earnings per common share.

4 The numerator comprises the Allowance for Credit Losses - Loans and Leases.

5 Regulatory capital ratios as of March 31, 2026 are preliminary.

6 Capital Ratio as of December 31, 2025 has been updated to reflect final reported ratio.

7 Tangible common equity to tangible assets and tangible common equity to risk-weighted assets are Non-GAAP financial measures. Tangible common equity is defined by the Company as common shareholders' equity minus goodwill. See Table 2 “Reconciliation of Non-GAAP Financial Measures”.

Bank of Hawai‘i Corporation and Subsidiaries

Reconciliation of Non-GAAP Financial Measures Table 2

(dollars in thousands) March 31, 2026 December 31, 2025 March 31, 2025

Total Shareholders' Equity $ 1,854,563 $ 1,851,212 $ 1,704,935

Less: Preferred Stock 345,000 345,000 345,000

Goodwill 31,517 31,517 31,517

Tangible Common Equity $ 1,478,046 $ 1,474,695 $ 1,328,418

Total Assets $ 23,909,933 $ 24,176,364 $ 23,885,056

Less: Goodwill 31,517 31,517 31,517

Tangible Assets $ 23,878,416 $ 24,144,847 $ 23,853,539

Risk-Weighted Assets, determined in accordance with prescribed regulatory requirements 1, 2

$ 14,382,622 $ 14,246,238 $ 14,319,932

Total Shareholders' Equity to Total Assets 7.76% 7.66% 7.14%

Tangible Common Equity to Tangible Assets (Non-GAAP) 6.19% 6.11% 5.57%

Tier 1 Capital Ratio 1

14.40% 14.49% 13.93%

Tangible Common Equity to Risk-Weighted Assets (Non-GAAP) 1

10.28% 10.35% 9.28%

1Regulatory capital ratios as of March 31, 2026 are preliminary.

2 Capital Ratio as of December 31, 2025 has been updated to reflect final reported ratio.

Bank of Hawai‘i Corporation and Subsidiaries

Consolidated Statements of Income Table 3

Three Months Ended

(dollars in thousands, except per share amounts) March 31, 2026 December 31, 2025 March 31, 2025

Interest Income

Interest and Fees on Loans and Leases $ 164,469  $ 168,234  $ 163,082

Income on Investment Securities

Available-for-Sale 34,575  32,950  24,368

Held-to-Maturity 18,541  18,929  20,291

Cash and Cash Equivalents 3,329  5,936  5,460

Other 1,293  1,245  1,085

Total Interest Income 222,207  227,294  214,286

Interest Expense

Deposits 64,886  75,477  81,692

Securities Sold Under Agreements to Repurchase 486  496  744

Other Debt 5,845  5,947  6,043

Total Interest Expense 71,217  81,920  88,479

Net Interest Income 150,990  145,374  125,807

Provision for Credit Losses 1,750  2,500  3,250

Net Interest Income After Provision for Credit Losses 149,240  142,874  122,557

Noninterest Income

Trust and Asset Management 12,445  12,883  11,741

Fees, Exchange, and Other Service Charges 10,928  12,298  14,437

Service Charges on Deposit Accounts 8,440  8,694  8,259

Bank-Owned Life Insurance 4,147  3,758  3,611

Annuity and Insurance 1,469  1,124  1,555

Mortgage Banking 876  917  988

Investment Securities Losses, Net (1,272) (18,717) (1,607)

Other 4,299  23,314  5,074

Total Noninterest Income 41,332  44,271  44,058

Noninterest Expense

Salaries and Benefits 68,457  61,675  62,884

Net Occupancy 10,782  10,029  10,559

Net Equipment 10,611  10,047  10,192

Data Processing 5,581  5,659  5,267

Professional Fees 4,226  3,682  4,264

FDIC Insurance 2,719  2,378  1,642

Other 13,695  16,048  15,651

Total Noninterest Expense 116,071  109,518  110,459

Income Before Provision for Income Taxes 74,501  77,627  56,156

Provision for Income Taxes 17,069  16,692  12,171

Net Income $ 57,432  $ 60,935  $ 43,985

Preferred Stock Dividends 5,269  5,269  5,269

Net Income Available to Common Shareholders $ 52,163  $ 55,666  $ 38,716

Basic Earnings Per Common Share $ 1.32  $ 1.40  $ 0.98

Diluted Earnings Per Common Share $ 1.30  $ 1.39  $ 0.97

Dividends Declared Per Common Share $ 0.70  $ 0.70  $ 0.70

Basic Weighted Average Common Shares 39,568,000 39,641,382 39,554,834

Diluted Weighted Average Common Shares 39,981,356 40,003,635 39,876,406

Bank of Hawai‘i Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income Table 4

Three Months Ended

(dollars in thousands) March 31, 2026 December 31, 2025 March 31, 2025

Net Income $ 57,432  $ 60,935  $ 43,985

Other Comprehensive Income (Loss), Net of Tax:

Net Change in Unrealized Gains (Losses) on Investment Securities (3,001) 29,367  24,760

Net Change in Defined Benefit Plans 222  2,446  232

Other Comprehensive Income (Loss) (2,779) 31,813  24,992

Comprehensive Income $ 54,653  $ 92,748  $ 68,977

Bank of Hawai‘i Corporation and Subsidiaries

Consolidated Statements of Condition Table 5

(dollars in thousands, except per share amounts) March 31, 2026 December 31, 2025 March 31, 2025

Assets

Cash and Cash Equivalents $ 425,080  $ 946,520  $ 935,200

Investment Securities

Available-for-Sale 3,722,405  3,510,652  2,887,019

Held-to-Maturity (Fair Value of $3,549,687; $3,651,966; and $3,823,655)

4,163,261  4,245,681  4,535,108

Loans Held for Sale 3,609  4,369  2,640

Loans and Leases 14,192,811  14,082,050  14,115,323

Allowance for Credit Losses (146,962) (146,766) (147,707)

Net Loans and Leases 14,045,849  13,935,284  13,967,616

Premises and Equipment, Net 215,859  199,747  187,858

Operating Lease Right-of-Use Assets 82,244  83,424  83,577

Accrued Interest Receivable 70,555  69,899  67,706

Mortgage Servicing Rights 17,036  17,455  18,770

Goodwill 31,517  31,517  31,517

Bank-Owned Life Insurance 499,681  499,795  481,260

Other Assets 632,837  632,021  686,785

Total Assets $ 23,909,933  $ 24,176,364  $ 23,885,056

Liabilities

Deposits

Noninterest-Bearing Demand $ 5,653,265  $ 5,755,371  $ 5,493,232

Interest-Bearing Demand 3,884,305  3,910,952  3,775,948

Savings 8,683,875  8,741,090  8,700,143

Time 2,736,485  2,781,082  3,038,894

Total Deposits 20,957,930  21,188,495  21,008,217

Securities Sold Under Agreements to Repurchase 50,000  50,000  50,000

Other Debt 558,150  558,176  558,250

Operating Lease Liabilities 91,213  92,402  92,267

Retirement Benefits Payable 25,686  20,139  23,640

Accrued Interest Payable 19,757  22,370  23,261

Other Liabilities 352,634  393,570  424,486

Total Liabilities 22,055,370  22,325,152  22,180,121

Shareholders’ Equity

Preferred Stock (Series A, $.01 par value; authorized 180,000 shares issued and outstanding) 180,000  180,000  180,000

Preferred Stock (Series B, $.01 par value; authorized 165,000 shares issued and outstanding) 165,000  165,000  165,000

Common Stock ($.01 par value; authorized 500,000,000 shares; issued / outstanding: March 31, 2026 - 59,000,929 / 39,620,563; December 31, 2025 - 58,780,253 / 39,725,698; and March 31, 2025 - 58,765,864 / 39,734,304)

590  587  586

Capital Surplus 672,584  664,781  651,374

Accumulated Other Comprehensive Loss (247,217) (244,438) (318,397)

Retained Earnings 2,229,539  2,205,707  2,144,326

Treasury Stock, at Cost (Shares: March 31, 2026 - 19,380,366; December 31, 2025 - 19,054,555; and March 31, 2025 - 19,031,560)

(1,145,933) (1,120,425) (1,117,954)

Total Shareholders’ Equity 1,854,563  1,851,212  1,704,935

Total Liabilities and Shareholders’ Equity $ 23,909,933  $ 24,176,364  $ 23,885,056

Bank of Hawai‘i Corporation and Subsidiaries

Consolidated Statements of Shareholders' Equity Table 6

(dollars in thousands, except per share amounts) Preferred Shares Series A Outstanding Preferred Series A Stock Preferred Shares Series B Outstanding Preferred Series B Stock Common Shares Outstanding Common Stock Capital Surplus Accum. Other Comprehensive Income (Loss) Retained Earnings Treasury Stock Total

Balance as of December 31, 2025 180,000 $ 180,000  165,000 $ 165,000  39,725,698 $ 587  $ 664,781  $ (244,438) $ 2,205,707  $ (1,120,425) $ 1,851,212

Net Income – –  – –  – –  –  –  57,432  –  57,432

Other Comprehensive Loss – –  – –  – –  –  (2,779) –  –  (2,779)

Share-Based Compensation – –  – –  – –  7,459  –  –  –  7,459

Common Stock Issued Under Purchase and Equity Compensation Plans – –  – –  237,399 3  344  –  –  881  1,228

Common Stock Repurchased Under Share Repurchase Program –  –  – –  (194,096) –  –  –  –  (15,109) (15,109)

Equity Compensation Plan Common Stock Repurchases –  –  – –  (148,438) –  –  –  –  (11,280) (11,280)

Cash Dividends Declared Common Stock ($0.70 per share)

– –  – –  – –  –  –  (28,331) –  (28,331)

Cash Dividends Declared Preferred Stock – –  – –  – –  –  –  (5,269) –  (5,269)

Balance as of March 31, 2026 180,000 $ 180,000  165,000 $ 165,000  39,620,563 $ 590  $ 672,584  $ (247,217) $ 2,229,539  $ (1,145,933) $ 1,854,563

Balance as of December 31, 2024 180,000 $ 180,000  165,000 $ 165,000  39,762,255 $ 585  $ 647,403  $ (343,389) $ 2,133,838  $ (1,115,663) $ 1,667,774

Net Income – –  – –  – –  –  –  43,985  –  43,985

Other Comprehensive Income – –  – –  – –  –  24,992  –  –  24,992

Share-Based Compensation – –  – –  – –  3,680  –  –  –  3,680

Common Stock Issued Under Purchase and Equity Compensation Plans – –  – –  19,477 1  291  –  –  1,023  1,315

Equity Compensation Plan Common Stock Repurchases – –  – –  (47,428) –  –  –  –  (3,314) (3,314)

Cash Dividends Declared Common Stock ($0.70 per share)

– –  – –  – –  –  –  (28,228) –  (28,228)

Cash Dividends Declared Preferred Stock – –  – –  – –  –  –  (5,269) –  (5,269)

Balance as of March 31, 2025 180,000 $ 180,000  165,000 $ 165,000  39,734,304 $ 586  $ 651,374  $ (318,397) $ 2,144,326  $ (1,117,954) $ 1,704,935

Bank of Hawai‘i Corporation and Subsidiaries

Average Balances and Interest Rates - Taxable-Equivalent Basis 1

Table 7

Three Months Ended March 31, 2026 Three Months Ended December 31, 2025 Three Months Ended March 31, 2025

(dollars in millions) Average Balance

Income/Expense 2

Yield/Rate Average Balance

Income/Expense 2

Yield/Rate Average Balance

Income/Expense 2

Yield/Rate

Earning Assets

Cash and Cash Equivalents $ 372.5  $ 3.3  3.58  % $ 604.5  $ 6.0  3.84  % $ 500.0  $ 5.5  4.37  %

Investment Securities

Available-for-Sale

Taxable 3,598.1  34.2  3.82  3,363.4  32.5  3.86  2,790.3  24.1  3.47

Non-Taxable 32.1  0.4  5.07  32.0  0.5  5.80  21.3  0.3  5.68

Held-to-Maturity

Taxable 4,175.4  18.4  1.76  4,265.7  18.8  1.76  4,548.6  20.2  1.77

Non-Taxable 33.5  0.2  2.10  33.7  0.2  2.10  34.1  0.2  2.09

Total Investment Securities 7,839.1  53.2  2.72  7,694.8  52.0  2.70  7,394.3  44.8  2.43

Loans Held for Sale 3.6  0.1  5.22  2.4  0.0  5.51  2.3  0.0  6.06

Loans and Leases 3

Commercial Mortgage 4,220.6  54.1  5.19  4,124.5  55.2  5.31  4,015.2  52.5  5.30

Commercial and Industrial 1,583.4  18.7  4.79  1,590.0  19.6  4.90  1,703.7  21.3  5.06

Construction 215.7  3.4  6.46  265.5  4.6  6.89  338.5  6.0  7.22

Commercial Lease Financing 86.9  0.9  4.29  89.7  0.9  4.19  91.1  0.9  3.83

Residential Mortgage 4,781.9  47.8  4.00  4,719.8  47.5  4.03  4,616.7  44.8  3.88

Home Equity 2,103.1  23.6  4.55  2,122.1  24.3  4.54  2,154.4  22.5  4.23

Automobile 684.6  9.4  5.57  692.7  9.6  5.49  752.6  9.3  5.02

Other 407.7  7.8  7.76  409.2  7.9  7.64  390.0  7.1  7.41

Total Loans and Leases 14,083.9  165.7  4.75  14,013.5  169.6  4.81  14,062.2  164.4  4.72

Other 81.9  1.3  6.31  82.2  1.2  6.06  65.1  1.1  6.67

Total Earning Assets 22,381.0  223.6  4.03  22,397.4  228.8  4.07  22,023.9  215.8  3.95

Non-Earning Assets 1,534.3  1,561.0  1,614.2

Total Assets $ 23,915.3  $ 23,958.4  $ 23,638.1

Interest-Bearing Liabilities

Interest-Bearing Deposits

Demand $ 3,839.0  $ 6.6  0.69  % $ 3,697.9  $ 7.3  0.78  % $ 3,773.4  $ 7.1  0.76  %

Savings 8,668.4  38.7  1.81  8,738.2  44.3  2.01  8,544.5  47.1  2.23

Time 2,753.6  19.6  2.89  2,974.0  23.9  3.18  3,037.3  27.5  3.67

Total Interest-Bearing Deposits 15,261.0  64.9  1.72  15,410.1  75.5  1.94  15,355.2  81.7  2.16

Securities Sold Under Agreements to Repurchase 50.0  0.5  3.89  50.0  0.5  3.89  76.7  0.7  3.88

Other Debt 560.9  5.8  4.23  558.2  5.9  4.23  578.2  6.1  4.24

Total Interest-Bearing Liabilities 15,871.9  71.2  1.82  16,018.3  81.9  2.03  16,010.1  88.5  2.24

Net Interest Income $ 152.4  $ 146.9  $ 127.3

Interest Rate Spread 2.21  % 2.04  % 1.71  %

Net Interest Margin 2.74  % 2.61  % 2.32  %

Noninterest-Bearing Demand Deposits 5,654.4  5,570.1  5,314.3

Other Liabilities 521.8  556.0  638.1

Shareholders' Equity 1,867.2  1,814.0  1,675.6

Total Liabilities and Shareholders' Equity $ 23,915.3  $ 23,958.4  $ 23,638.1

1Due to rounding, the amounts presented in this table may not tie to other amounts presented elsewhere in this report.

2Interest income includes taxable-equivalent basis adjustments, based upon a federal statutory tax rate of 21%, of $1.4 million, $1.6 million, and $1.5 million for the three months ended March 31, 2026, December 31, 2025, and March 31, 2025, respectively.

3Non-performing loans and leases are included in the respective average loan and lease balances.

Bank of Hawai‘i Corporation and Subsidiaries

Analysis of Change in Net Interest Income - Taxable-Equivalent Basis Table 8a

Three Months Ended March 31, 2026

Compared to December 31, 2025

(dollars in millions)

Volume 1

Rate 1

Total

Change in Interest Income:

Cash and Cash Equivalents $ (2.2) $ (0.4) $ (2.6)

Investment Securities

Available-for-Sale

Taxable 2.1  (0.4) 1.7

Non-Taxable —  (0.1) (0.1)

Held-to-Maturity

Taxable (0.4) 0.0  (0.4)

Non-Taxable 0.0  —  0.0

Total Investment Securities 1.7  (0.5) 1.2

Loans Held for Sale 0.0  0.0  0.0

Loans and Leases

Commercial Mortgage 0.6  (1.8) (1.2)

Commercial and Industrial (0.1) (0.8) (0.9)

Construction (0.9) (0.3) (1.2)

Commercial Lease Financing 0.0  0.0  0.0

Residential Mortgage 0.6  (0.3) 0.3

Home Equity (0.5) (0.1) (0.6)

Automobile (0.2) 0.0  (0.2)

Other (0.1) 0.0  (0.1)

Total Loans and Leases (0.6) (3.3) (3.9)

Other 0.0  0.0  0.0

Total Change in Interest Income (1.1) (4.2) (5.3)

Change in Interest Expense:

Interest-Bearing Deposits

Demand 0.2  (0.9) (0.7)

Savings (0.4) (5.2) (5.6)

Time (1.9) (2.4) (4.3)

Total Interest-Bearing Deposits (2.1) (8.5) (10.6)

Securities Sold Under Agreements to Repurchase —  0.0  0.0

Other Debt (0.1) 0.0  (0.1)

Total Change in Interest Expense (2.2) (8.5) (10.7)

Change in Net Interest Income $ 1.1  $ 4.3  $ 5.4

1The change in interest income and expense due to both volume and rate has been allocated between the factors in proportion to the relationship of the absolute dollar amounts of the change in each.

Bank of Hawai‘i Corporation and Subsidiaries

Analysis of Change in Net Interest Income - Taxable-Equivalent Basis Table 8b

Three Months Ended March 31, 2026

Compared to March 31, 2025

(dollars in millions)

Volume 1

Rate 1

Total

Change in Interest Income:

Cash and Cash Equivalents $ (1.2) $ (0.9) $ (2.1)

Investment Securities

Available-for-Sale

Taxable 7.5  2.6  10.1

Non-Taxable 0.1  0.0  0.1

Held-to-Maturity

Taxable (1.6) (0.1) (1.7)

Non-Taxable 0.0  —  0.0

Total Investment Securities 6.0  2.5  8.5

Loans Held for Sale 0.0  0.0  0.0

Loans and Leases

Commercial Mortgage 2.7  (1.2) 1.5

Commercial and Industrial (1.5) (1.1) (2.6)

Construction (2.0) (0.6) (2.6)

Commercial Lease Financing 0.0  0.1  0.1

Residential Mortgage 1.6  1.4  3.0

Home Equity (0.5) 1.6  1.1

Automobile (0.9) 1.0  0.1

Other 0.3  0.4  0.7

Total Loans and Leases (0.3) 1.6  1.3

Other 0.4  (0.3) 0.1

Total Change in Interest Income 4.9  2.9  7.8

Change in Interest Expense:

Interest-Bearing Deposits

Demand 0.2  (0.7) (0.5)

Savings 0.6  (9.0) (8.4)

Time (2.4) (5.5) (7.9)

Total Interest-Bearing Deposits (1.6) (15.2) (16.8)

Securities Sold Under Agreements to Repurchase (0.3) 0.0  (0.3)

Other Debt (0.2) 0.0  (0.2)

Total Change in Interest Expense (2.1) (15.2) (17.3)

Change in Net Interest Income $ 7.0  $ 18.1  $ 25.1

1The change in interest income and expense due to both volume and rate has been allocated between the factors in proportion to the relationship of the absolute dollar amounts of the change in each.

Bank of Hawai‘i Corporation and Subsidiaries

Salaries and Benefits Table 9

Three Months Ended

(dollars in thousands) March 31, 2026 December 31, 2025 March 31, 2025

Salaries $ 38,990  $ 39,915  $ 38,242

Share-Based Compensation 7,282  4,379  3,501

Incentive Compensation 6,083  4,535  5,573

Payroll Taxes 5,321  2,740  4,766

Retirement and Other Benefits 4,597  4,378  5,061

Medical, Dental, and Life Insurance 4,222  3,916  4,537

Commission Expense

1,213  1,670  1,123

Separation Expense

749  142  81

Total Salaries and Benefits $ 68,457  $ 61,675  $ 62,884

Bank of Hawai‘i Corporation and Subsidiaries

Loan and Lease Portfolio Balances Table 10

(dollars in thousands) March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025 March 31,

2025

Commercial

Commercial Mortgage $ 4,341,448  $ 4,205,791  $ 4,040,711  $ 4,038,956  $ 4,038,287

Commercial and Industrial 1,575,207  1,584,245  1,581,232  1,597,560  1,703,290

Construction 204,993  208,584  380,944  374,768  363,716

Lease Financing 84,651  88,303  92,213  92,842  92,456

Total Commercial 6,206,299  6,086,923  6,095,100  6,104,126  6,197,749

Consumer

Residential Mortgage 4,800,256  4,775,502  4,685,214  4,637,014  4,630,876

Home Equity 2,095,521  2,114,809  2,129,599  2,139,025  2,144,955

Automobile 680,570  690,376  699,244  715,688  740,390

Other 410,165  414,440  412,422  406,325  401,353

Total Consumer 7,986,512  7,995,127  7,926,479  7,898,052  7,917,574

Total Loans and Leases $ 14,192,811  $ 14,082,050  $ 14,021,579  $ 14,002,178  $ 14,115,323

Deposits

(dollars in thousands) March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025 March 31,

2025

Consumer $ 10,530,223  $ 10,466,617  $ 10,393,932  $ 10,429,271  $ 10,522,627

Commercial 8,340,279  8,597,265  8,348,396  8,243,898  8,411,838

Public and Other 2,087,428  2,124,613  2,338,341  2,125,745  2,073,752

Total Deposits $ 20,957,930  $ 21,188,495  $ 21,080,669  $ 20,798,914  $ 21,008,217

Average Deposits

Three Months Ended

(dollars in thousands) March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025 March 31,

2025

Consumer $ 10,461,004  $ 10,373,200  $ 10,387,715  $ 10,435,867  $ 10,408,747

Commercial 8,431,519  8,478,592  8,504,078  8,316,893  8,318,182

Public and Other 2,022,920  2,128,407  2,176,493  1,946,933  1,942,610

Total Deposits $ 20,915,443  $ 20,980,199  $ 21,068,286  $ 20,699,693  $ 20,669,539

Bank of Hawai‘i Corporation and Subsidiaries

Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More Table 11

(dollars in thousands) March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025 March 31,

2025

Non-Performing Assets

Non-Accrual Loans and Leases

Commercial

Commercial Mortgage $ -  $ 2,085  $ 2,498  $ 2,566  $ 2,195

Commercial and Industrial 1,860  1,940  3,506  3,744  3,451

Total Commercial 1,860  4,025  6,004  6,310  5,646

Consumer

Residential Mortgage 5,410  5,382  5,628  5,842  4,686

Home Equity 4,525  4,469  5,107  5,387  5,759

Total Consumer 9,935  9,851  10,735  11,229  10,445

Total Non-Accrual Loans and Leases 11,795  13,876  16,739  17,539  16,091

Foreclosed Real Estate 295  295  125  342  1,360

Total Non-Performing Assets $ 12,090  $ 14,171  $ 16,864  $ 17,881  $ 17,451

Accruing Loans and Leases Past Due 90 Days or More

Consumer

Residential Mortgage $ 10,733  $ 8,834  $ 7,456  $ 9,070  $ 3,895

Home Equity 1,556  2,152  2,765  1,867  2,228

Automobile 672  520  525  680  486

Other 764  753  578  630  943

Total Consumer 13,725  12,259  11,324  12,247  7,552

Total Accruing Loans and Leases Past Due 90 Days or More $ 13,725  $ 12,259  $ 11,324  $ 12,247  $ 7,552

Total Loans and Leases $ 14,192,811  $ 14,082,050  $ 14,021,579  $ 14,002,178  $ 14,115,323

Ratio of Non-Accrual Loans and Leases to Total Loans and Leases 0.08  % 0.10  % 0.12  % 0.13  % 0.11  %

Ratio of Non-Performing Assets to Total Loans and Leases and Foreclosed Real Estate 0.09  % 0.10  % 0.12  % 0.13  % 0.12  %

Ratio of Non-Performing Assets to Total Assets 0.05  % 0.06  % 0.07  % 0.08  % 0.07  %

Ratio of Commercial Non-Performing Assets to Total Commercial Loans and Leases and Commercial Foreclosed Real Estate 0.03  % 0.07  % 0.10  % 0.10  % 0.09  %

Ratio of Consumer Non-Performing Assets to Total Consumer Loans and Leases and Consumer Foreclosed Real Estate 0.13  % 0.13  % 0.14  % 0.15  % 0.15  %

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 0.18  % 0.19  % 0.20  % 0.22  % 0.18  %

Quarter to Quarter Changes in Non-Performing Assets Balance at Beginning of Quarter $ 14,171  $ 16,864  $ 17,881  $ 17,451  $ 19,300

Additions 1

1,010  2,608  959  3,522  2,209

Reductions

Payments (2,744) (2,631) (804) (1,424) (1,212)

Return to Accrual Status (341) (1,217) (321) (574) (244)

Sales of Foreclosed Real Estate -  (120) (216) (1,040) (1,492)

Charge-offs / Write-downs 1

(6) (1,333) (635) (54) (1,110)

Total Reductions (3,091) (5,301) (1,976) (3,092) (4,058)

Balance at End of Quarter $ 12,090  $ 14,171  $ 16,864  $ 17,881  $ 17,451

1Excludes loans that are fully charged-off and placed on non-accrual status during the same period.

Bank of Hawai‘i Corporation and Subsidiaries

Reserve for Credit Losses Table 12

Three Months Ended

(dollars in thousands) March 31, 2026 December 31, 2025 March 31, 2025

Balance at Beginning of Period $ 148,403  $ 150,051  $ 150,649

Loans and Leases Charged-Off

Commercial

Commercial and Industrial (230) (1,331) (1,399)

Consumer

Residential Mortgage (15) —  —

Home Equity (6) (165) (75)

Automobile (1,417) (1,654) (1,751)

Other (2,394) (2,192) (2,484)

Total Loans and Leases Charged-Off (4,062) (5,342) (5,709)

Recoveries on Loans and Leases Previously Charged-Off

Commercial

Commercial Mortgage

1,617  —  —

Commercial and Industrial 53  92  77

Consumer

Residential Mortgage 11  11  11

Home Equity 137  88  128

Automobile 579  517  633

Other 590  486  457

Total Recoveries on Loans and Leases

2,987  1,194  1,306

Net Charged-Off - Loans and Leases (1,075) (4,148) (4,403)

Provision for Credit Losses:

Loans and Leases 1,271  2,136  3,582

Unfunded Commitments 479  364  (332)

Total Provision for Credit Losses 1,750  2,500  3,250

Balance at End of Period $ 149,078  $ 148,403  $ 149,496

Components

Allowance for Credit Losses - Loans and Leases $ 146,962  $ 146,766  $ 147,707

Reserve for Unfunded Commitments 2,116  1,637  1,789

Total Reserve for Credit Losses $ 149,078  $ 148,403  $ 149,496

Average Loans and Leases Outstanding $ 14,083,875  $ 14,013,532  $ 14,062,173

Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding (annualized) 0.03  % 0.12  % 0.13  %

Ratio of Allowance for Credit Losses to Loans and Leases Outstanding 1

1.04  % 1.04  % 1.05  %

1The numerator comprises the Allowance for Credit Losses - Loans and Leases.

Bank of Hawai‘i Corporation and Subsidiaries

Selected Quarterly Financial Data

Table 13

Three Months Ended

(dollars in thousands, except per share amounts) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025

Quarterly Operating Results

Interest Income

Interest and Fees on Loans and Leases $ 164,469  $ 168,234  $ 169,411  $ 166,779  $ 163,082

Income on Investment Securities

Available-for-Sale 34,575  32,950  29,702  27,007  24,368

Held-to-Maturity 18,541  18,929  19,332  19,835  20,291

Cash and Cash Equivalents 3,329  5,936  8,195  3,817  5,460

Other 1,293  1,245  1,068  1,097  1,085

Total Interest Income 222,207  227,294  227,708  218,535  214,286

Interest Expense

Deposits 64,886  75,477  84,590  82,476  81,692

Securities Sold Under Agreements to Repurchase 486  496  496  491  744

Other Debt 5,845  5,947  5,947  5,885  6,043

Total Interest Expense 71,217  81,920  91,033  88,852  88,479

Net Interest Income 150,990  145,374  136,675  129,683  125,807

Provision for Credit Losses 1,750  2,500  2,500  3,250  3,250

Net Interest Income After Provision for Credit Losses 149,240  142,874  134,175  126,433  122,557

Noninterest Income

Trust and Asset Management 12,445  12,883  12,598  12,097  11,741

Fees, Exchange, and Other Service Charges 10,928  12,298  15,219  14,383  14,437

Service Charges on Deposit Accounts 8,440  8,694  8,510  8,119  8,259

Bank-Owned Life Insurance 4,147  3,758  3,681  3,714  3,611

Annuity and Insurance 1,469  1,124  1,095  1,437  1,555

Mortgage Banking 876  917  906  849  988

Investment Securities Losses, Net (1,272) (18,717) (1,945) (1,126) (1,607)

Other 4,299  23,314  5,902  5,322  5,074

Total Noninterest Income 41,332  44,271  45,966  44,795  44,058

Noninterest Expense

Salaries and Benefits 68,457  61,675  62,905  61,308  62,884

Net Occupancy 10,782  10,029  10,932  10,499  10,559

Net Equipment 10,611  10,047  10,285  9,977  10,192

Data Processing 5,581  5,659  5,603  5,456  5,267

Professional Fees 4,226  3,682  4,022  4,263  4,264

FDIC Insurance 2,719  2,378  3,508  3,640  1,642

Other 13,695  16,048  15,132  15,640  15,651

Total Noninterest Expense 116,071  109,518  112,387  110,783  110,459

Income Before Provision for Income Taxes 74,501  77,627  67,754  60,445  56,156

Provision for Income Taxes 17,069  16,692  14,409  12,808  12,171

Net Income $ 57,432  $ 60,935  $ 53,345  $ 47,637  $ 43,985

Preferred Stock Dividends 5,269  5,269  5,269  5,269  5,269

Net Income Available to Common Shareholders $ 52,163  $ 55,666  $ 48,076  $ 42,368  $ 38,716

Basic Earnings Per Common Share $ 1.32  $ 1.40  $ 1.21  $ 1.07  $ 0.98

Diluted Earnings Per Common Share $ 1.30  $ 1.39  $ 1.20  $ 1.06  $ 0.97

Balance Sheet Totals

Loans and Leases $ 14,192,811  $ 14,082,050  $ 14,021,579  $ 14,002,178  $ 14,115,323

Total Assets 23,909,933  24,176,364  24,014,609  23,709,752  23,885,056

Total Deposits 20,957,930  21,188,495  21,080,669  20,798,914  21,008,217

Total Shareholders' Equity 1,854,563  1,851,212  1,791,183  1,743,107  1,704,935

Performance Ratios

Return on Average Assets 0.97  % 1.01  % 0.88  % 0.81  % 0.75  %

Return on Average Shareholders' Equity 12.47  13.33  12.10  11.21  10.65

Return on Average Common Equity 13.90  15.03  13.59  12.50  11.80

Efficiency Ratio 1

60.35  57.75  61.53  63.49  65.03

Net Interest Margin 2

2.74  2.61  2.46  2.39  2.32

1Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).

2Net interest margin is defined as net interest income, on a taxable-equivalent basis, as a percentage of average earning assets.

Bank of Hawai‘i Corporation and Subsidiaries

Hawaii Economic Trends

Table 14

Year Ended

(dollars in millions, jobs in thousands, 1-year percentage change) December 31, 2025 December 31, 2024

Hawaii Economic Trends

General Excise and Use Tax Revenue 1

889.1 4.1  % 4,773.4 6.2  % 4,495.0 0.5  %

Jobs 2

672.7 672.9 669.0

January 31,

December 31,

2026 2025 2024

Unemployment, seasonally adjusted 2

Statewide 2.6  % 2.6  % 3.0  %

Honolulu County 2.6  2.5  2.9

Hawaii County 2.9  3.1  3.5

Maui County 2.9  2.9  3.6

Kauai County 2.0  2.7  3.0

February 28,

December 31,

(1-year percentage change, except months of inventory) 2026 2025 2024 2023

Housing Trends (Single Family Oahu) 3

Median Home Price 0.9  % 3.5  % 4.8  % (5.0) %

Home Sales Volume (units) 2.2  % 3.5  % 9.1  % (26.3) %

Months of Inventory 2.8  2.6  2.9  2.8

(in thousands, except percentage change) Monthly Visitor Arrivals,

Not Seasonally Adjusted Percentage Change

from Previous Year

Tourism 4

February 28, 2026 760.8  2.9  %

January 31, 2026 858.7  11.1

December 31, 2025 850.3  (4.4)

November 30, 2025 728.1  (3.7)

October 31, 2025 727.2  (1.2)

September 30, 2025 674.9  (2.2)

August 31, 2025 806.8  (2.6)

July 31, 2025 870.8  (4.6)

June 30, 2025 855.7  (1.9)

May 31, 2025 766.4  1.1

April 30, 2025 810.3  9.4

March 31, 2025 890.0  2.8

February 28, 2025 739.7  (1.7)

January 31, 2025 773.1  3.7

December 31, 2024 889.6  5.0

November 30, 2024 755.8  4.8

October 31, 2024 736.1  5.1

September 30, 2024 690.2  6.5

August 31, 2024 828.3  8.1

July 31, 2024 912.8  (1.9)

June 30, 2024 872.6  (1.5)

May 31, 2024 757.8  (4.1)

April 30, 2024 740.7  (8.1)

March 31, 2024 865.8  (3.0)

February 29, 2024 752.7  2.6

1Source: Hawaii Department of Business, Economic Development & Tourism. Based on the latest complete available data for February 2026.

2Source: U.S. Bureau of Labor Statistics. Based on the latest complete available data for January 2026. Prior period numbers most recently reported may differ from previously reported figures.

3Source: Honolulu Board of Realtors.

4Source: Hawaii Tourism Authority. Prior period numbers most recently reported may differ from previously reported figures.

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boh1q26earningsslides

Bank of Hawai‘i Corporation first quarter 2026 financial report April 20, 2026

this presentation, and other statements made by the Company in connection with it, may contain forward-looking statements concerning, among other things, forecasts of our financial results and condition, expectations for our operations and business prospects, and our assumptions used in those forecasts and expectations. we have not committed to update forward-looking statements to reflect later events or circumstances disclosure 2 forward-looking statements

diversified, lower risk loan assets first quarter 2026 highlights broad & deep market penetration strong balance she t performance earnings highlights strong credit credit remains pristine • total loans and leases increased by 3.1% annualized • average noninter st-bearing demand increased by $84 million, leading to positive deposit mix shift • tier 1 capital ratio of 14.40% and total capital ratio of 15.44% • total common equity to tangible assets increased to 6.19% from 6.11% • shares repurchased $15.1 million • $1.30 diluted earnings per common share • $57.4 million net income • net interest margin expanded for the eighth consecutive quarter to 2.74%, an increase of 13 bps • average cost of total deposits decreased by 17 bps to 1.26% • return on average common equity 13.90% • 0.03% net charge-off rate • 0.09% non-performing assets • 81% of loan portfolio real estate-secured with wtd avg LTV of 51% • allowance for credit losses to loan and leases outstanding 1.04% note: changes are in comparison to linked quarter unless specified otherwise 3

leader in a unique deposit market the leader in a unique deposit market with five local competitors holding 95% of the bank deposit market, with consistent long-term growth BOH 28.3% FHB 30.5% ASB 18.2% CPF 14.4% TBNK 4.2% other 4.4% 2005 BOH 34.1% FHB 32.5%ASB 14.4% CPF 11.7% TBNK 2.9% other 4.4% 2024 BOH 34.5% FHB 32.1%ASB 14.2% CPF 11.6% TBNK 3.0% other 4.6% 2025 BOH 6.1% FHB 1.6% CPF -2.8% ASB -3.9% TBNK -1.2% -8% -6% -4% -2% 0% 2% 4% 6% 8% c h a n g e i n m a rk e t s h a re s in c e 2 0 0 5 4source: FDIC Annual Summary of Deposits as of June 30, 2020, June 30, 2024 and June 30, 2025. TBNK acquired by HOPE in April 2025. numbers may not add up due to rounding

cost of funds interest-bearing deposits 0.07% 0.11% 0.30% 0.69% 1.09% 1.54% 1.95% 2.30% 2.39% 2.46% 2.52% 2.37% 2.16% 2.16% 2.14% 1.94% 1.72% 0.13% 0.20% 0.47% 0.93% 1.53% 2.11% 2.44% 2.73% 2.91% 2.99% 3.05% 2.84% 2.66% 2.63% 2.64% 2.46% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 BOH KRX median source: S&P Capital IQ; KBW Regional Banking Index (KRX) 5

cost of funds total deposits 0.05% 0.07% 0.20% 0.46% 0.75% 1.08% 1.40% 1.67% 1.74% 1.81% 1.87% 1.77% 1.60% 1.60% 1.59% 1.43% 1.26% 0.08% 0.12% 0.31% 0.64% 1.07% 1.49% 1.84% 2.09% 2.21% 2.27% 2.33% 2.17% 2.04% 1.99% 1.97% 1.87% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 BOH KRX median source: S&P Capital IQ; KBW Regional Banking Index (KRX) 6

ongoing NIM expansion 2.11% 0.04% 0.03% 0.01% 0.13% 0.07% 0.07% 0.15% 0.13% 2.74% 2.00% 2.10% 2.20% 2.30% 2.40% 2.50% 2.60% 2.70% 2.80% 1Q24 NIM 2Q24 vs 1Q24 3Q24 vs 2Q24 4Q24 vs 3Q24 1Q25 vs 4Q24 2Q25 vs 1Q25 3Q25 vs 2Q25 4Q25 vs 3Q25 1Q26 vs 4Q25 1Q26 NIM 7

credit performance

lending philosophy Hawaiʻi 93% U.S. mainland 3% West Pacific 4% we lend in our core markets to long-standing relationships note: as of March 31, 2026 9

residential mortgage $4.8 home equity $2.1 automobile $0.7 other consumer $0.4 consumer portfolio asset type % total consumer % total loans WALTV wtd avg FICO residential mortgage 60% 34% 49% 803 home equity 26% 15% 46% 788 real estate secured 86% 49% 48% 798 automobile 9% 5% n/a 729 other consumer 5% 3% n/a 760 total consumer 100% 56% n/a 790 $8.0B consumer notes: $ in billions; numbers may not add up due to rounding other consumer primarily comprised of consumer revolving credit, installment, and auto lease financing wtd avg monitoring FICO for other consumer utilizes origination FICO for auto lease financing 56% of total loans 10

C&I $1.6 CRE $4.3 construction $0.2 leasing $0.1 commercial portfolio residential mortgage home equity $6.2B commercial asset type % total comml % total loans WALTV commercial real estate 70% 31% 55% construction 3% 1% 58% real estate secured 73% 32% 55% commercial & industrial 25% 11% n/a leasing 1% 1% n/a total commercial 100% 44% n/a note: $ in billions; numbers may not add up due to rounding 44% of total loans 11

vacancy inventory (sq ft) 4Q25 4Q24 10 yr avg 10 yr CAGR industrial 1.35% 0.93% 1.60% 0.63% office 12.59% 12.73% 12.41% -0.94% retail 5.61% 5.71% 6.13% 0.29% multi-family 3.88% 4.02% 4.65% 0.45% Oahu market vacancies and inventory stable real estate market note: 10-year average and 10-yr CAGR for inventory are based on years 2016 through 2025 source: Colliers (industrial, office, retail) and CoStar (multi-family) 12

multi-family 8.6% industrial 5.7% retail 5.1% lodging 4.6% office 2.3% other 4.3% commercial real estate (CRE) residential mortgage home equity 31% of total loans or $4.3 billion asset type WALTV avg. exposure ($MMs) multi-family 57% 3.9 industrial 55% 2.7 retail 54% 4.5 lodging 50% 14.7 office 58% 1.7 other 55% 4.5 total CRE 55% 3.8 note: % in chart above is % of total loans 13

CRE scheduled maturities 14.8% 10.1% 10.1% 4.0% 14.1% 46.9% 0 500 1,000 1,500 2,000 2,500 2026 2027 2028 2029 2030 2031+ $ m ill io n s modest near-term maturities 14

62.1% 26.6% 8.9% 1.9% 0.02% 0.5% 0 500 1,000 1,500 2,000 2,500 ≤ 60% > 60% to 70% > 70% to 80% > 80% to 85% > 85% to 90% > 90% $ m ill io n s CRE loan balances by LTV LTV > 80% - $106MM, 2.4% of CRE 15

AOAO 3.5% real estate investors 1.2% auto dealers 1.0% renewable energy 0.7% lodging 0.8% educational svcs 0.6% transportation 0.5% wholesale trade 0.5% other 2.3% commercial & industrial residential mortgage home equity 11% of total loans or $1.6 billion industry % leveraged avg. exposure ($MMs) AOAO 0% 1.8 RE investors 0% 1.3 auto dealers 17% 4.4 renewable energy 0% 2.7 lodging 32% 5.6 educational svcs 0% 2.0 transportation 0% 1.4 wholesale trade 29% 0.5 other 7% 0.3 total C&I 6% 0.7 16 note: % in chart above is % of total loans

credit quality 0.13% 0.12% 0.03% $0 $0 $0 $0 $0 $0 $0 $0 $0 1Q25 4Q25 1Q26 net charge-offs NCOs/average loans 0.12% 0.10% 0.09% 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% 0.40% 1Q25 4Q25 1Q26 non-performing assets NPAs/period-end loans plus OREO 1 84% of total criticized is real estate secured with 53% wtd avg LTV 0.30% 0.36% 0.40% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1Q25 4Q25 1Q26 delinquencies delinquencies/period-end loans 2.08% 2.12% 2.12% 1Q25 4Q25 1Q26 criticized criticized/period-end loans 1 17

financial update

NII and NIM trends eighth consecutive quarter of NII and NIM expansion $ in millions $125 $133 $142 $141 $136 $124 $121 $116 $114 $115 $118 $120 $126 $130 $137 $145 $151 2.34% 2.47% 2.60% 2.60% 2.47% 2.22% 2.13% 2.13% 2.11% 2.15% 2.18% 2.19% 2.32% 2.39% 2.46% 2.61% 2.74% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 NII NIM 19

cashflow repricing total quarterly impact to NII from cashflows repricing: +$2.6 million note: +$2.6 million in quarterly impact from cashflows repricing assumes that the cashflows from maturities/prepayments from loans were reinvested into the same products and the cashflows from maturities/prepayments from investment portfolio were reinvested into securities at an average rate of 4.8%, equivalent to average yield at the time of purchase of the securities purchased in 1Q26; excludes cashflows from securities repricing; numbers may not add up due to rounding 4.8% 6.3% 1.5% 4.9% 5.6% 0.7% 2.6% 4.8% 2.2% 4.0% 5.6% 1.6% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% matured/run-off yield reinvestment opportunities incremental spread 1Q26 maturities/prepayments reinvestment opportunities fixed loans adjustable loans inv. portfolio total $301 $109 $233 $643 $- $100 $200 $300 $400 $500 $600 $700 1Q26 maturities/prepayments fixed loans adjustable loans inv. portfolio total 20 $ in millions

deposit mix shift and repricing quarterly NII impact from deposit mix shift and repricing in 1Q26: +$0.6 million $(749) $(967) $(800) $(627) $(488) $(448) $(315) $(105) $(37) $(59) $(104) $100 $94 $(1,000) $(800) $(600) $(400) $(200) $- $200 1Q23 vs 4Q22 2Q23 vs 1Q23 3Q23 vs 2Q23 4Q23 vs 3Q23 1Q24 vs 4Q23 2Q24 vs 1Q24 3Q24 vs 2Q24 4Q24 vs 3Q24 1Q25 vs 4Q24 2Q25 vs 1Q25 3Q25 vs 2Q25 4Q25 vs 3Q25 1Q26 vs 4Q25 QoQ change in average NIBD and low yield interest-bearing deposit balances note: low yield interest-bearing deposits include accounts yielding interest of 10 bps or less 21 $ in millions

NIBD expansion $ in millions 22 ($456) ($399) ($176) ($146) ($129) ($192) ($78) $9 $8 $51 $33 $171 $84 ($500) ($400) ($300) ($200) ($100) $0 $100 $200 $300 1Q23 vs 4Q22 2Q23 vs 1Q23 3Q23 vs 2Q23 4Q23 vs 3Q23 1Q24 vs 4Q23 2Q24 vs 1Q24 3Q24 vs 2Q24 4Q24 vs 3Q24 1Q25 vs 4Q24 2Q25 vs 1Q25 3Q25 vs 2Q25 4Q25 vs 3Q25 1Q26 vs 4Q25 QoQ change in average noninterest-bearing deposits

trend in cost of deposits 23 0% 16% 28% 29% 28% 31% 36% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 downward beta on total deposits 0.05% 0.07% 0.20% 0.46% 0.75% 1.08% 1.40% 1.67% 1.74% 1.81% 1.87% 1.77% 1.60% 1.60% 1.59% 1.43% 1.26% 0.07%0.11% 0.30% 0.69% 1.09% 1.54% 1.95% 2.30% 2.39% 2.46% 2.52% 2.37% 2.16% 2.16% 2.14% 1.94% 1.72% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 total deposit cost interest-bearing deposit cost

24 time deposit maturity schedule $1.4B 51% $0.7B 24% $0.3B 12% $0.3B 13% 2.91% 2.68% 2.93% 2.46% 0% 10% 20% 30% 40% 50% 60% 2Q26 3Q26 4Q26 2027 and beyond % o f to ta l ti m e d e p o s it s s c h e d u le d t o m a tu re balance as % of total time deposits weighted average rate 51% of time deposits set to reprice in 3 months and 75% in 6 months note: as of March 31, 2026

25 optimizing balance sheet $1.0 $1.7 $1.7 $1.7 $1.5 $1.3 $1.3 $1.5 $1.1 $1.1 $0.9 $1.0 $1.3 $1.3 $1.3 $1.3 $0.7 $0.7 $0.7 $0.3 $0.4 $0.3 $- $0.2 $2.0 $3.0 $3.0 $3.0 $2.8 $2.0 $2.0 $2.2 $1.4 $1.5 $1.2 $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 $ i n b ill io n s active swap composition fixed rate loans AFS securities 72% 67% 61% 55% 55% 54% 53% 57% 56% 55% 57% 57% 59% 27% 27% 28% 29% 29% 29% 30% 32% 33% 33% 34% 33% 35% 0% 1% 9% 13% 13% 14% 12% 9% 9% 10% 6% 7% 5% 1% 5% 2% 3% 3% 3% 4% 2% 3% 2% 3% 3% 1% 0% 20% 40% 60% 80% 100% 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 earning asset composition fixed float/adjustable swaps fed funds sold 100% 56% 44% 67% 81% 93% 100% 100% 44% 56% 33% 19% 7% $(166) $236 $233 $241 $276 $223 $308 $373 $(200) $(100) $- $100 $200 $300 $400 $500 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 $ i n m ill io n s securities purchases / sales fixed floating note: swaps in ‘earning asset composition’ and ‘swap composition’ does not include $400 million of forward swaps

noninterest income & expense $ in millions $44.1 $44.3 $41.3 $0 $10 $20 $30 $40 $50 1Q25 4Q25 1Q26 $112.6 $3.5 $110.5 $109.5 $116.1 $0 $20 $40 $60 $80 $100 $120 1Q25 4Q25 1Q26 non-recurring compensation related charge 26note: numbers may not add up due to rounding; “non-recurring compensation related charge” refers to the accelerated vesting pursuant to the retirement provision of performance-based restricted stock granted in 2024 and 2025 reported noninterest income reported noninterest expense

financial summary $ in millions, except per share amounts 1Q 2026 4Q 2025 1Q 2025 ∆ 4Q 2025 ∆ 1Q 2025 net interest income $ 151.0 $ 145.4 $ 125.8 $ 5.6 $ 25.2 noninterest income 41.3 44.3 44.1 (2.9) (2.7) total revenue 192.3 189.6 169.9 2.7 22.5 noninterest expense 116.1 109.5 110.5 6.6 5.6 operating income 76.3 80.1 59.4 (3.9) 16.8 credit provision 1.8 2.5 3.3 (0.8) (1.5) income taxes 17.1 16.7 12.2 0.4 4.9 net income $ 57.4 $ 60.9 $ 44.0 $ (3.5) $ 13.4 net income available to common $ 52.2 $ 55.7 $ 38.7 $ (3.5) $ 13.4 diluted EPS $ 1.30 $ 1.39 $ 0.97 $ (0.09) $ 0.33 return on assets 0.97 % 1.01 % 0.75 % (0.04) % 0.22 % return on common equity 13.90 15.03 11.80 (1.13) 2.10 net interest margin 2.74 2.61 2.32 0.13 0.42 end of period balances investment portfolio $ 7,886 $ 7,756 $ 7,422 1.7 % 6.2 % loans and leases 14,193 14,082 14,115 0.8 0.5 total deposits 20,958 21,188 21,008 (1.1) (0.2) shareholders' equity 1,855 1,851 1,705 0.2 8.8 note: 1Q26 financials are preliminary; numbers may not add up due to rounding 27

capital note: 1Q26 regulatory capital ratios are preliminary 6.50% 6.50% 6.50% 8.00% 8.00% 8.00% 10.00% 10.00% 10.00% 5.00% 5.00% 5.00% 5.08% 5.64% 5.56% 5.93% 6.49% 6.40% 4.97% 5.54% 5.44% 3.36% 3.57% 3.62% 11.58% 12.14% 12.06% 13.93% 14.49%14.40% 14.97% 15.54%15.44% 8.36% 8.57% 8.62% 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 CET1 tier 1 capital total capital tier 1 leverage well-capitalized excess 13.6% BOHC strong capital 58.9% 60.2% 76.6% BOHC 4Q25 BOHC 1Q26 KRX median 4Q25 1 RWA / total assets 28

✔ NII and NIM increased for the eighth consecutive quarter ✔ dominant market position in a unique market ✔ exceptional credit quality ✔ strong liquidity and risk-based capital takeaways 29

Q & A

appendix

note: as of March 31, 2026, cash includes fed funds sold, interest-bearing deposits in other banks and cash and due from banks, and securities available includes unencumbered investment securities Bank of Hawai‘i carries substantial liquidity lines and equivalents for both day-to-day operational and liquidity backstop purposes FRB FHLB securities available cash uninsured/ uncollateralized deposits $10.5B $7.9B readily available liquidity 32

insured/collateralized deposits uninsured/ uncollateralized 37% uninsured/ collateralized 9% insured 53% note: as of March 31, 2026; numbers may not add up due to rounding 33

0 5 10 15 20 25 30 35 40 45 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 s q u a re f e e t (m ill io n s ) industrial 0 5 10 15 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 s q u a re f e e t (m ill io n s ) office 0 5 10 15 20 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 s q u a re f e e t (m ill io n s ) retail 0 5 10 15 20 25 30 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 u n it s ( th o u s a n d s ) multi-family Oahu market inventory 34 CRE supply constraints 10-yr CAGR: 0.6% 10-yr CAGR: -0.9% 10-yr CAGR: 0.3% 10-yr CAGR: 0.4% note: 10-yr CAGR for inventory are based on years 2016 through 2025 source: Colliers (industrial, office, retail) and CoStar (multi-family)

CRE office 2% of total loans • 58% wtd avg LTV • $1.7MM average exposure • 17% CBD (downtown Honolulu) - 63% wtd avg LTV - 68% with repayment guaranties • 35% maturing prior to 2028 • 2.6% criticized highlights LTV ≤ 60% 44% LTV > 60% to 70% 38% LTV > 70% to 80% 6% LTV > 80% 12% LTV distribution $331MM 35 29.9% 4.9% 11.5% 2.3% 12.4% 39.0% - 50 100 150 200 250 300 2026 2027 2028 2029 2030 2031+ $ m ill io n s scheduled maturity

CRE multi-family 9% of total loans • 57% wtd avg LTV • $3.9MM average exposure • 100.0% LIHTC, affordable or market • 16% maturing prior to 2028 • 3.4% criticized highlights LTV ≤ 60% 54% LTV > 60% to 70% 29% LTV > 70% to 80% 12% LTV > 80% 5% LTV distribution 11.7% 4.6% 3.8% 2.3% 8.9% 68.7% - 300 600 900 2026 2027 2028 2029 2030 2031+ $ m ill io n s scheduled maturity $1.2B 36

single family homes condominiums YTD-26 YTD-25 Δ YTD-25 YTD-26 YTD-25 Δ YTD-25 median sales price (000s) $1,180 $1,150 2.6% $510 $510 0.0% closed sales 631 569 10.9% 939 974 -3.6% median days on market 23 20 3 days 49 43 6 days stable real estate prices Oahu market indicators – YTD 2026 as of March 2026 source: Honolulu Board of Realtors, compiled from MLS data 37

2.4% 2.3% 2.3% 4.3% 1 Q 2 0 2 Q 2 0 3 Q 2 0 4 Q 2 0 1 Q 2 1 2 Q 2 1 3 Q 2 1 4 Q 2 1 1 Q 2 2 2 Q 2 2 3 Q 2 2 4 Q 2 2 1 Q 2 3 2 Q 2 3 3 Q 2 3 4 Q 2 3 1 Q 2 4 2 Q 2 4 3 Q 2 4 4 Q 2 4 1 Q 2 5 2 Q 2 5 3 Q 2 5 4 Q 2 5 1 Q 2 6 2 Q 2 6 3 Q 2 6 Hawai‘i unemployment Hawai‘i unemployment forecast national unemployment unemployment experience & forecast source for Hawai‘i unemployment: University of Hawaii Economic Research Organization (UHERO), quarterly data, seasonally adjusted source for national unemployment: Bureau of Labor Statistics, quarterly data, seasonally adjusted national unemployment in 4Q25 reflects average of Nov 2025 and Dec 2025 rate 38

39 visitor arrivals monthly by market, indexed to January 2017 source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT) - 20 40 60 80 100 120 140 160 180 200 total US visitor Japan other

revenue per available room revenue per available room (RevPAR) 40source: Hawaii Department of Business, Economic Development, and Tourism (DBEDT) $0 $30 $60 $90 $120 $150 $180 $210 $240 $270 $300 $330 $360

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v3.26.1

Cover

Apr. 20, 2026

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Document Period End Date

Apr. 20, 2026

Registrant Name

BANK OF HAWAII CORPORATION

Entity Incorporation, State or Country Code

DE

Entity File Number

1-6887

Entity Tax Identification Number

99-0148992

Entity Address, Address Line One

130 Merchant Street

Entity Address, City or Town

Honolulu

Entity Address, State or Province

HI

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96813

City Area Code

888

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Common Stock

Document Information [Line Items]

Title of 12(b) Security

Common Stock, par value $0.01 per share

Trading Symbol

BOH

Security Exchange Name

NYSE

Series A Preferred Stock

Document Information [Line Items]

Title of 12(b) Security

Depository Shares, Each Representing 1/40th Interest in a Share of 4.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A

Trading Symbol

BOH.PRA

Security Exchange Name

NYSE

Series B Preferred Stock

Document Information [Line Items]

Title of 12(b) Security

Depository Shares, Each Representing 1/40th Interest in a Share of 8.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B

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