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

                                                    Registration No. 033-57267

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

                         SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C. 20549

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

                           POST-EFFECTIVE AMENDMENT NO. 1
                                         TO
                                      FORM S-8
                               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)

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

             PACIFIC CENTURY FINANCIAL CORPORATION PROFIT SHARING PLAN
                 (FORMERLY THE BANK OF HAWAII PROFIT SHARING PLAN)
                                (Full title of plan)

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

                               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

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



                                      PART II

                 INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

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 6 of
Part II of this registration statement is amended as set forth below.

ITEM 6.   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.


                                          2.


ITEM 8.   EXHIBITS.

          The following exhibit is filed herewith:

          No.       Description
          ---       -----------
          24        Power of Attorney


                                          3.


                                     SIGNATURES

          THE REGISTRANT.  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-8
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
Lawrence M. Johnson                Chief Executive
                                   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


                                          4.


           *                       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


                                          5.


          THE PLAN.  Pursuant to the requirements of the Securities Act of 1933,
the Pacific Century Financial Corporation Benefit Plans Committee (the
"Committee") has duly caused this registration statement or amendment thereto to
be signed on behalf of the Pacific Century Financial Corporation Profit Sharing
Plan by the undersigned, thereunto duly authorized, in Honolulu, Hawaii, on the
dates indicated below.

PACIFIC CENTURY FINANCIAL CORPORATION PROFIT SHARING PLAN

Signature                                      Date
- ---------                                      ----



By /s/ Richard J. Dahl                       June 22, 1998
   ----------------------------
     Richard J. Dahl
     Committee Member


By /s/ Joanne L. Chun                        June 22, 1998
   ----------------------------
     Joanne L. Chun
     Committee Member


By /s/ Clinton R. Churchill                  June 22, 1998
   ----------------------------
     Clinton R. Churchill
     Committee Member


By /s/ David A. Houle                        June 22, 1998
   ----------------------------
     David A. Houle
     Committee Member


By /s/ Herbert M. Richards, Jr.              June 22, 1998
   ----------------------------
     Herbert M. Richards, Jr.
     Committee Member


By /s/ Ron J. Schmid                         June 22, 1998
   ----------------------------
     Ron J. Schmid
     Committee Member


                                          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


                                          2.


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


                                   /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.