As filed with the Securities and Exchange Commission on June 23, 1998
                                                              -------

                                                     Registration No. 033-54775

                               ----------------

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                               ----------------

                         POST-EFFECTIVE AMENDMENT NO. 1
                                       TO
                                    FORM S-3
                             REGISTRATION STATEMENT
                                     UNDER
                           THE SECURITIES ACT OF 1933

                               ----------------

                     PACIFIC CENTURY FINANCIAL CORPORATION
               (Exact name of Issuer as specified in its charter)

               DELAWARE                              99-0148992
       (State of Incorporation)           (IRS Employer Identification No.)
                              130 MERCHANT STREET
                            HONOLULU, HAWAII  96813
                    (Address of principal executive offices)

                               ----------------

                             JOSEPH T. KIEFER, ESQ.
                     PACIFIC CENTURY FINANCIAL CORPORATION
                                 P. O. BOX 2900
                             HONOLULU, HAWAII 96846
                                 (808) 537-8879
                         (Name, address, and telephone
                          number of agent for service)
                                                   

                               ----------------

                                    Copy to:
                            WILLIAM E. ATWATER, ESQ.
                      CARLSMITH BALL WICHMAN CASE & ICHIKI
                         1001 BISHOP STREET, SUITE 2200
                               HONOLULU, HI 96813
                                 (808) 523-2502


                               ----------------



If the only securities being registered on this Form are being offered pursuant
to dividend or interest reinvestment plans, please check the following box.  / /

If any of the securities being registered on this Form are to be offered on a
delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, other than securities offered only in connection with dividend or interest
reinvestment plans, check the following box.  / X / 

If this Form is filed to register additional securities for an offering pursuant
to Rule 462(b) under the Securities Act, please check the following box and list
the Securities Act registration statement number of the earlier effective
registration statement for the same offering.  / / _________

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under
the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering.  / /

If delivery of the prospectus is expected to be made pursuant to Rule 434,
please check the following 
box.  / /  


                                      2.


                                       PART II

                      INFORMATION NOT REQUIRED IN THE PROSPECTUS

ADOPTION OF REGISTRATION STATEMENT

          Pacific Century Financial Corporation, a Delaware corporation, as the
successor issuer to Pacific Century Financial Corporation, a Hawaii corporation,
adopts this registration statement for all purposes of the Securities Act of
1933 (the "Securities Act") and the Securities Exchange Act of 1934 pursuant to
Securities Act Rule 414.  All references in such registration statement to the
issuer's common stock shall be deemed to refer to the registrant's common stock,
par value $0.01 per share.  In connection with such succession, Item 15 of
Part II of this registration statement is amended as set forth below.

ITEM 15.  INDEMNIFICATION OF DIRECTORS AND OFFICERS.

          Section 145 of the Delaware General Corporation Law (the "DGCL")
authorizes a Delaware corporation to indemnify its directors, officers,
employees and agents against certain liabilities and expenses they may incur in
such capacities, and provides that such persons have a right to indemnification
against expenses where they have been successful on the merits or otherwise in
defense of certain types of actions or any claim, issue or matter therein.  The
indemnification provided by Section 145 is not exclusive of any other
indemnification rights that may exist under any bylaw, agreement, vote of
shareholders or disinterested directors, or otherwise.  Article VI of the
registrant's bylaws require that the registrant indemnify and hold harmless, to
the fullest extent permitted by applicable law (including circumstances in which
indemnification is otherwise discretionary) any person who was or is made or is
threatened to be made a party to or is otherwise involved in any action, suit or
proceeding by reason of the fact that such person is or was a director or
officer of the registrant or is or was serving at its request as a director,
officer, employee or agent of another corporation or of a partnership, joint
venture, trust, enterprise or nonprofit entity (including service with respect
to employee benefit plans) against all liability and loss suffered and expenses
(including attorneys' fees) reasonably incurred by such person.  In addition,
the registrant maintains insurance under which its directors, officers and
employees and agents are insured against certain liabilities.  Also, the
registrant's Certificate of Incorporation includes provisions which eliminate
the personal liability of registrant's directors for monetary damages resulting
from breaches of their fiduciary duty of care, provided that such provision does
not eliminate liability for breaches of the duty of loyalty, acts or omissions
not in good faith or which involve intentional misconduct or a knowing violation
of law, violations of Sections 174 of the DGCL (concerning the wilful or
negligent violation of statutory provisions precluding payment of certain
dividends and certain stock purchases or redemptions) or for any other
transactions from which the director derived an improper personal benefit.


                                      3.


ITEM 16.  EXHIBITS.

          The following exhibit is filed herewith:

No. Description --- ----------- 24 Power of Attorney
4. SIGNATURES Pursuant to the requirements of the Securities Act of 1933, Pacific Century Financial Corporation certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this registration statement or amendment thereto to be signed on its behalf by the undersigned, thereunto duly authorized, in Honolulu, Hawaii, on the 22nd day of June, 1998. ---- PACIFIC CENTURY FINANCIAL CORPORATION By /s/ Lawrence M. Johnson ---------------------------- Lawrence M. Johnson Chief Executive Officer Pursuant to the requirements of the Securities Act of 1933, this registration statement or amendment thereto has been signed by the following persons in the capacities and on the date indicated. Signature Title Date - --------- ----- ---- /s/ Lawrence M. Johnson Chairman of the Board, June 22, 1998 - ----------------------- Chief Executive -- Lawrence M. Johnson Officer and Director * President and Director June 22, 1998 - ----------------------- -- Richard J. Dahl * Director June 22, 1998 - ----------------------- -- Peter D. Baldwin * Director June 22, 1998 - ----------------------- -- Mary G.F. Bitterman 5. * Director June 22, 1998 - ----------------------- -- David A. Heenan * Director June 22, 1998 - ----------------------- -- Stuart T.K. Ho * Director June 22, 1998 - ----------------------- -- Herbert M. Richards, Jr. * Director June 22, 1998 - ----------------------- -- H. Howard Stephenson * Director June 22, 1998 - ----------------------- -- Stanley S. Takahashi * Director June 22, 1998 - ----------------------- -- Donald M. Takaki * Director June 22, 1998 - ----------------------- -- Fred E. Trotter, III * Executive Vice President, June 22, 1998 - ----------------------- Treasurer and Chief -- David A. Houle Financial Officer * Senior Vice President and June 22, 1998 - ----------------------- Controller (Principal -- Denis K. Isono Accounting Officer) *By /s/ Lawrence M. Johnson ------------------------ Lawrence M. Johnson Attorney-in-Fact 6. EXHIBIT INDEX
No. Description -- ----------- 24 Power of Attorney


                                                                      EXHIBIT 24


                                  POWER OF ATTORNEY


          KNOW ALL MEN BY THESE PRESENTS that PACIFIC CENTURY FINANCIAL 
CORPORATION, a Delaware corporation (the "Corporation") and the undersigned, 
in the capacities indicated below, hereby constitute and appoint LAWRENCE M. 
JOHNSON, RICHARD J. DAHL, DAVID A. HOULE, DENIS K. ISONO, and JOSEPH T. 
KIEFER, of Honolulu, Hawaii, and each of them (with full power to each of 
them to act alone), their true and lawful attorneys and agents to do any and 
all acts and things and to execute any and all instruments that said 
attorneys and agents, or any of them, may deem necessary or advisable or may 
require to enable the Corporation to comply with the Securities Act of 1933, 
as amended (the "Securities Act"), the Securities Exchange Act of 1934, as 
amended (the "Exchange Act"), any rules, regulations, or requirements of the 
Securities and Exchange Commission in respect thereof, and similar statutes 
of any other jurisdiction, in connection with the adoption by the 
Corporation, as the successor issuer to Pacific Century Financial 
Corporation, a Hawaii corporation ("PCFC-Hawaii"), of registration statements 
of PCFC-Hawaii filed pursuant to the Securities Act, the Exchange Act or 
similar statutes of any other jurisdiction, including specifically, but 
without limiting the generality of the foregoing, power and authority to sign 
the names of the Corporation and the undersigned in the capacities indicated 
below to any registration statement and any and all amendments and 
supplements to any registration statement and to any instruments or documents 
filed as a part of or in connection with any such amendments or supplements 
to any registration statement, and the undersigned hereby ratify and confirm 
all that said attorneys and agents, or any of them, shall do or cause to be 
done by virtue thereof.

          IN WITNESS WHEREOF, the Corporation and the undersigned have hereunto
set their hands as of the 24th day of April, 1998.  This Power of Attorney may
be executed in any number of counterparts by one or more of the undersigned.
                              
                              PACIFIC CENTURY FINANCIAL
                              CORPORATION

                              By /s/ Lawrence M. Johnson               
                                 --------------------------------------
                                 LAWRENCE M. JOHNSON
                                 Chairman of the Board, Chief
                                 Executive Officer and Director



                              By /s/ Richard J. Dahl                 
                                 --------------------------------------
                                 RICHARD J. DAHL
                                 President and Director



                              /s/ David A. Houle    
                              -----------------------------------------
                              DAVID A. HOULE
                              Executive Vice President, Treasurer and 
                              Chief Financial Officer


                                      2.


                              /s/ Denis K. Isono             
                              -----------------------------------------
                              DENIS K. ISONO
                              Senior Vice President and Controller 
                              (Principal Accounting Officer)


                              /s/ Peter D. Baldwin         
                              -----------------------------------------
                              PETER D. BALDWIN, Director


                              /s/ Mary G.F. Bitterman           
                              -----------------------------------------
                              MARY G. F. BITTERMAN, Director


                              /s/ David A. Heenan                 
                              -----------------------------------------
                              DAVID A. HEENAN, Director


                              /s/ Stuart T.K. Ho                     
                              -----------------------------------------
                              STUART T. K. HO, Director


                              /s/ Herbert M. Richards           
                              -----------------------------------------
                              HERBERT M. RICHARDS, JR., Director


                              /s/ H. Howard Stephenson     
                              -----------------------------------------
                              H. HOWARD STEPHENSON, Director


                                      3.


                              /s/ Stanley S. Takahashi          
                              -----------------------------------------
                              STANLEY S. TAKAHASHI, Director


                              /s/ Donald M. Takaki              
                              -----------------------------------------
                              DONALD M. TAKAKI, Director


                              /s/ Fred E. Trotter, III             
                              -----------------------------------------
                              FRED E. TROTTER, III, Director


                                      4.