Financial Release

HONOLULU--(BUSINESS WIRE)--June 2, 2005--Bank of Hawaii Corporation (NYSE:BOH) today announced that Mary Sellers has been appointed Vice Chair and Chief Risk Officer. She will succeed Bill Nelson, who will retire at the end of June 2005.

Sellers, who is currently Executive Vice President and Director of Risk Management and Wholesale Credit, will be responsible for overseeing the management of corporate-wide risk. She will also become part of the bank's eight-member Managing Committee. Her appointment is effective July 1, 2005.

Al Landon, Bank of Hawaii's Chairman and Chief Executive Officer, said, "I'm confident in Mary's ability to maintain our focus on risk management and a strong credit culture that serves the needs of our customers. During her 18 years at the bank Mary has taken on increasing responsibilities and has most recently served as Bill's right-hand person in preparing for her new role. She has a solid grasp of the task at hand, and is highly regarded among her peers for her management skills."

Sellers joined the bank in 1987 as an officer in the Private Financial Services Department. She has worked in various capacities since then, including management positions in the Credit Management and Approval Department, Credit Services Division and Pacific Century Leasing.

She has a master's degree in Economics from the University of Delaware.

Nelson joined the company in 2001 as Vice Chairman and Chief Risk Officer. Previously, he worked at Bank of America for 24 years, where he most recently served as Managing Director in charge of the credit products group handling the U.S. health care industry.

Landon said, "Bill came to Bank of Hawaii at a time when the bank was facing serious credit quality issues. His expertise and experience were the prescription needed to remedy the credit situation at the time. He not only helped to greatly improve credit quality but also was instrumental in strengthening credit and risk management processes. Those efforts, along with his attention to succession planning and preparing his team for the future, are greatly appreciated."

Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The company's principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. For more information about Bank of Hawaii Corporation, see the Company's web site, www.boh.com.

CONTACT: Bank of Hawaii Corporation
Stafford Kiguchi, 808-537-8580 or 808-265-6367 (Cell)
skiguchi@boh.com
Cindy Wyrick, 808-537-8430 (Investor/Analyst Inquiries)
cwyrick@boh.com

SOURCE: Bank of Hawaii Corporation