U N I T E D   S T A T E S

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 10-Q

(Mark One)

[ X ]     Quarterly Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the quarterly
period ended September 30, 1996

or

[   ]     Transition Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934 for the transition
period from _____________ to _____________

Commission File Number 1-6887

B A N C O R P   H A W A I I,   I N C.
------------------------------------------------------
(Exact name of registrant as specified in its charter)

Hawaii                          99-0148992
------------------------     ---------------------------------
(State of incorporation)     (IRS Employer Identification No.)

130 Merchant Street, Honolulu, Hawaii                    96813
- ----------------------------------------               ----------
(Address of principal executive offices)               (Zip Code)

(808) 847-8888
----------------------------------------------------
(Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months,
and (2) has been subject to such filing requirements for the past
90 days.

Yes  X      No    

Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date.

Common Stock, $2 Par Value; outstanding at October 31, 1996 - 
40,563,426 shares

BANCORP HAWAII, INC. and subsidiaries
September 30, 1996

PART I. - Financial Information

Item 1.  Financial Statements

The consolidated statements of condition as of September 30,
1996 and 1995, and December 31, 1995 and related statements of
income, shareholders' equity, and cash flows are included herein.

The unaudited financial statements listed above have been
prepared in accordance with the instructions to Form 10-Q and
therefore do not include all information and footnotes necessary
for a fair presentation of financial position, results of
operations, and changes in financial position in conformity with
generally accepted accounting principles.

The financial statements reflect all adjustments of a normal
and recurring nature which are, in the opinion of management,
necessary to a fair statement of the results for the interim
periods.  Certain accounts have been reclassified to conform with
the 1996 presentation.

Consolidated Statements of Condition (Unaudited)                            Bancorp Hawaii, Inc. and subsidiaries
- ------------------------------------------------------------------------------------------------------------------

September 30  December 31 September 30
(in thousands of dollars)                                                          1996         1995         1995
- ------------------------------------------------------------------------------------------------------------------

Assets
Interest-Bearing Deposits                                                      $623,592     $789,050     $612,864
Investment Securities - Held to Maturity
(Market Value of $1,266,815, $1,135,364 and $1,540,450 respectively)     1,272,910    1,129,251    1,544,403
Investment Securities - Available for Sale                                    2,340,746    2,230,902    1,683,968
Funds Sold                                                                       88,224      116,173       56,660
Loans                                                                         8,683,244    8,152,406    7,893,978
Unearned Income                                                              (181,719)    (147,404)    (142,515)
Reserve for Possible Loan Losses                                             (167,770)    (151,979)    (150,931)
- ------------------------------------------------------------------------------------------------------------------
Net Loans                                                                     8,333,755    7,853,023    7,600,532
- ------------------------------------------------------------------------------------------------------------------
Total Earning Assets                                                     12,659,227   12,118,399   11,498,427
Cash and Non-Interest Bearing Deposits                                          457,116      469,031      433,665
Premises and Equipment                                                          273,075      246,515      237,962
Customers' Acceptance Liability                                                  27,323       16,825       13,382
Accrued Interest Receivable                                                      85,095       84,669       79,657
Other Real Estate                                                                 8,901        9,306        3,823
Intangibles, including Goodwill                                                  96,427       87,673       89,434
Trading Securities                                                                1,449           29          113
Other Assets                                                                    171,860      174,337      140,155
- ------------------------------------------------------------------------------------------------------------------
Total Assets                                                            $13,780,473  $13,206,784  $12,496,618
==================================================================================================================

Liabilities
Domestic Deposits
Demand - Non-Interest Bearing                                              $1,319,369   $1,549,302   $1,379,789
- Interest-Bearing                                                   1,648,312    1,592,533    1,555,068
Savings                                                                       889,874    1,004,550    1,025,868
Time                                                                        2,586,714    2,204,242    1,908,192
Foreign Deposits                                                              1,974,221    1,226,143    1,077,974
- ------------------------------------------------------------------------------------------------------------------
Total Deposits                                                            8,418,490    7,576,770    6,946,891

Securities Sold Under Agreements to Repurchase                                1,996,536    1,926,540    2,262,197
Funds Purchased                                                                 479,538      787,437      537,268
Short-Term Borrowings                                                           489,061      476,867      480,857
Bank's Acceptances Outstanding                                                   27,323       16,825       13,382
Accrued Pension Costs                                                            20,341       21,145       26,527
Accrued Interest Payable                                                         75,294       49,473       55,120
Accrued Taxes Payable                                                           151,530      160,306      160,606
Minority Interest                                                                 9,352        2,961        2,470
Other Liabilities                                                                90,828       70,588       72,604
Long-Term Debt                                                                  957,431    1,063,436      897,837
- ------------------------------------------------------------------------------------------------------------------
Total Liabilities                                                        12,715,724   12,152,348   11,455,759

Shareholders' Equity
Common Stock ($2 par value), authorized 100,000,000 shares;
outstanding,  September 1996 - 40,661,103;
December 1995 - 41,340,817; September 1995 - 41,579,607;                     81,322       82,682       83,159
Surplus                                                                         215,014      240,080      248,818
Unrealized Valuation Adjustments                                                (12,759)      13,902       11,581
Retained Earnings                                                               781,172      717,772      697,301
- ------------------------------------------------------------------------------------------------------------------
Total Shareholders' Equity                                                1,064,749    1,054,436    1,040,859
- ------------------------------------------------------------------------------------------------------------------
Total Liabilities and Shareholders' Equity                              $13,780,473  $13,206,784  $12,496,618
==================================================================================================================

Consolidated Statements of Income (Unaudited)                               Bancorp Hawaii, Inc. and subsidiaries
- ------------------------------------------------------------------------------------------------------------------

3 Months     3 Months     9 Months     9 Months
Ended        Ended        Ended        Ended
September 30 September 30 September 30 September 30
(in thousands of dollars except per share amounts)                    1996         1995         1996         1995
- ------------------------------------------------------------------------------------------------------------------

Interest Income
Interest on Loans                                               $168,290     $153,465     $493,549     $451,770
Loan Fees                                                          6,381        7,809       22,958       20,918
Income on Lease Financing                                          8,793        3,372       18,467        9,464
Interest and Dividends on Investment Securities
Taxable                                                         20,542       23,347       49,703       70,111
Non-taxable                                                        292          329          901        1,048
Income on Investment Securities Available for Sale                35,910       26,936      108,769       78,140
Interest on Deposits                                               9,219       10,379       28,127       28,753
Interest on Security Resale Agreements                                --           72           --          205
Interest on Funds Sold                                               828          628        2,906        2,343
- ------------------------------------------------------------------------------------------------------------------
Total Interest Income                                              250,255      226,337      725,380      662,752
Interest Expense
Interest on Deposits                                              76,389       59,939      209,751      173,908
Interest on Security Repurchase Agreements                        23,780       32,137       73,705       92,403
Interest on Funds Purchased                                        7,323        7,496       22,041       22,645
Interest on Short-Term Borrowings                                  5,254        4,276       16,726       14,480
Interest on Long-Term Debt                                        15,191       14,017       47,173       41,376
- ------------------------------------------------------------------------------------------------------------------
Total Interest Expense                                             127,937      117,865      369,396      344,812
- ------------------------------------------------------------------------------------------------------------------

Net Interest Income                                                122,318      108,472      355,984      317,940
Provision for Possible Loan Losses                                   3,733        4,377       12,320       12,950
- ------------------------------------------------------------------------------------------------------------------
Net Interest Income After Provision for Possible Loan Losses       118,585      104,095      343,664      304,990
Non-Interest Income
Trust Income                                                      12,349       11,879       37,067       37,405
Service Charges on Deposit Accounts                                7,417        6,491       21,368       19,331
Fees, Exchange, and Other Service Charges                         15,280       12,072       40,665       36,857
Other Operating Income                                             8,199        5,288       24,499       15,822
Investment Securities Gains (Losses)                                 291          176          229        2,280
- ------------------------------------------------------------------------------------------------------------------
Total Non-Interest Income                                           43,536       35,906      123,828      111,695
Non-Interest Expense
Salaries                                                          40,727       35,038      118,246      106,043
Pensions and Other Employee Benefits                              12,020       10,653       37,500       32,806
Net Occupancy Expense of Premises                                 10,510       10,150       29,954       30,402
Net Equipment Expense                                              8,789        7,012       25,343       23,786
Other Operating Expense                                           40,041       24,734      101,752       78,813
Minority Interest                                                    524          288        1,181          769
- ------------------------------------------------------------------------------------------------------------------
Total Non-Interest Expense                                         112,611       87,875      313,976      272,619
- ------------------------------------------------------------------------------------------------------------------
Income Before Income Taxes                                    49,510       52,126      153,516      144,066
Provision for Income Taxes                                          18,182       19,206       54,865       54,350
- ------------------------------------------------------------------------------------------------------------------

Net Income                                                   $31,328      $32,920      $98,651      $89,716
==================================================================================================================
Earnings Per Common Share and Common Share Equivalents               $0.76        $0.78        $2.39        $2.13
- ------------------------------------------------------------------------------------------------------------------
Average Common Shares and Common Share Equivalents Outstanding  41,182,809   41,955,136   41,334,572   42,070,392
- ------------------------------------------------------------------------------------------------------------------

Consolidated Statements of Shareholders' Equity (Unaudited)               Bancorp Hawaii, Inc. and subsidiaries
- ----------------------------------------------------------------------------------------------------------------

Common                 Unrealized    Retained
(in thousands of dollars except per share amounts)     Total       Stock     Surplus  Valuation Adj.   Earnings
- ----------------------------------------------------------------------------------------------------------------

Balance at December 31, 1995                      $1,054,436     $82,682    $240,080        $13,902    $717,772
Net Income                                            98,651        -           -              -         98,651
Sale of Common Stock
35,803 Profit Sharing Plan                          1,231          72       1,159           -           -
201,176 Stock Option Plan                            4,629         402       4,227           -           -
133,207 Dividend Reinvestment Plan                   5,200         265       4,935           -           -
1,800 Restricted Share Plan                           64           4          60           -           -
Stock Repurchased                                    (37,550)     (2,103)    (35,447)          -           -
Unrealized Valuation Adjustments
Investment Securities                             (19,116)       -           -           (19,116)       -
Foreign Exchange Translation Adjustment            (7,545)       -           -            (7,545)       -
Cash Dividends Paid of $.86 Per Share                (35,251)       -           -              -        (35,251)
- ----------------------------------------------------------------------------------------------------------------
Balance at September 30, 1996                     $1,064,749     $81,322    $215,014       ($12,759)   $781,172
================================================================================================================

Balance at December 31, 1994                        $966,788     $83,703    $260,040       ($18,122)   $641,167
Net Income                                            89,716        -           -              -         89,716
Sale of Common Stock
96,251 Profit Sharing Plan                          2,638         193       2,445           -           -
84,332 Stock Option Plan                            8,315         782       7,533           -           -
132,374 Dividend Reinvestment Plan                   5,391         361       5,030           -           -
Stock Repurchased                                    (28,110)     (1,880)    (26,230)          -           -
Unrealized Valuation Adjustments
Investment Securities                              26,021        -           -            26,021        -
Foreign Exchange Translation Adjustment             3,682        -           -             3,682        -
Cash Dividends Paid of $.81 Per Share                (33,582)       -           -              -        (33,582)
- ----------------------------------------------------------------------------------------------------------------
Balance at September 30, 1995                     $1,040,859     $83,159    $248,818        $11,581    $697,301
================================================================================================================
/TABLE

<TABLE>
Consolidated Statements of Cash Flows (Unaudited)                       Bancorp Hawaii, Inc. and subsidiaries
- --------------------------------------------------------------------------------------------------------------

Nine Months Ended September 30
(in thousands of dollars)                                                                   1996         1995
- --------------------------------------------------------------------------------------------------------------

Operating Activities
Net Income                                                                               $98,651      $89,716
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses, depreciation, and amortization of income and expense      10,796        8,430
Deferred income taxes                                                                 5,638          916
Realized and unrealized investment security gains                                    (8,294)      (1,373)
Net increase in trading securities                                                    1,420       13,583
Other assets and liabilities, net                                                     4,931      (12,221)
------------ ------------
Net cash provided by operating activities                                           113,142       99,051
- --------------------------------------------------------------------------------------------------------------
Investing Activities
Proceeds from redemptions of investment securities held to maturity                      459,823      634,489
Purchases of investment securities held to maturity                                     (581,374)    (392,932)
Proceeds from sales of investment securities available for sale                          734,695      346,666
Purchases of investment securities available for sale                                   (868,188)    (620,756)
Net decrease in interest-bearing deposits placed in other banks                          421,546      114,152
Net decrease (increase) in funds sold                                                     27,949       (2,493)
Net decrease in loans and lease financing                                                113,310       17,622
Premises and equipment, net                                                              (29,062)     (32,980)
Purchase of additional interest:
Banque D'Hawaii (Vanuatu), Ltd.                                                            --        6,808
Credipac Polynesie and Credipac Nouvelle Caledonie                                     (4,114)          --
Purchase of majority interest of Banque de Tahiti & New Caledonie
net of cash and non-interest bearing deposits acquired                                 18,090           --
------------ ------------
Net cash provided by investing activities                                           292,675       70,576
- --------------------------------------------------------------------------------------------------------------
Financing Activities
Net increase in demand, savings, and time deposits                                       (16,796)    (179,392)
Proceeds from lines of credit and long-term debt                                       1,059,468      226,204
Principal payments on lines of credit and long-term debt                              (1,165,473)    (189,939)
Net decrease in short-term borrowings                                                   (225,709)     (59,931)
Proceeds from sale (repurchase) of stock                                                 (26,426)     (11,766)
Cash dividends                                                                           (35,251)     (33,582)
------------ ------------
Net cash used by financing activities                                              (410,187)    (248,406)

Effect of exchange rate changes on cash                                                   (7,545)       3,682
------------ ------------
Decrease in cash and non-interest bearing deposits                                  (11,915)     (75,097)

Cash and non-interest bearing deposits at beginning of year                              469,031      508,762
------------ ------------
Cash and non-interest bearing deposits at end of period                                 $457,116     $433,665
- --------------------------------------------------------------------------------------------------------------

Item 2.   Management's Discussion and Analysis of Financial
Condition and Results of Operations

Financial Review

Performance Highlights

Bancorp Hawaii, Inc. (Bancorp) reported earnings for the
nine months ending September 30, 1996 of $98.7 million, an
increase of 10.0% from the same period in 1995. On a per share
basis, earnings were $2.39 and $2.13 for the year-to-date in 1996
and 1995, respectively.  

Bancorp's earnings for the third quarter of 1996 were $31.3
million, down 4.8% from the same period last year.  Earnings per
share for the third quarter of 1996 were $0.76 compared with
$0.78 for the same quarter last year.  Comparatively, for the
first and second quarters of 1996, earnings per share were $0.79
and $0.84, respectively.  

Results for the nine months of 1996 have been affected by
two significant events.  As reported in the second quarter,
Bancorp, through its lead bank subsidiary, Bank of Hawaii,
purchased a majority ownership in Banque de Tahiti (BDT) and
Banque de Nouvelle Caledonie (BNC) from Credit Lyonnais.  Bank of
Hawaii further increased its ownership in these two Banks by
purchasing remaining minority interests during the third quarter. 
At September 30, 1996, Bank of Hawaii's ownership in BDT and BNC
was 92.4% and 91.5%, respectively.  Earnings for BDT and BNC
since May 1996 have been included in Bancorp's consolidated
financial reports.  The second event was the special Savings
Association Insurance Fund (SAIF) assessment accrued by Bancorp
as of September 30, 1996.  The SAIF assessment for Bancorp's
savings and loan subsidiaries was $5.0 million pre-tax and $3.0
million after tax which impacted third quarter results.

Performance ratios through September 30, 1996 remained short
of Bancorp's long term objective of 1.2% and 17.5% for return on
average assets (ROAA) and return on average equity (ROAE),
respectively.  On an annualized basis, ROAA was 0.99% and ROAE
was 12.35% through September 30, 1996.  Although not approaching
target levels, the 1996 results are improving compared to the
1995 ROAA and ROAE ratios which were 0.98% and 11.87%,
respectively.

Total assets were $13.8 billion as of September 30, 1996, up
significantly from the $12.5 billion reported at September 30,
1995 and from $13.2 billion at December 31, 1995.  Net loans
outstanding increased to $8.3 billion at September 30, 1996,
compared with $7.6 billion and $7.9 billion at September 30, 1995
and December 31, 1995, respectively.  Total investment securities
stood at $3.6 billion at September 30, 1996, an increase of 11.9%
from the same date in 1995 and a 7.5% increase from December 31, 
1995.  The increase reflects the securitization of more than $350
million of adjustable rate mortgage loans in the second quarter
of 1996.  

Total deposits increased to $8.4 billion at the end of
September 1996.  Comparatively, deposits were $7.6 billion and
$6.9 billion at year-end and September 30, 1995, respectively. 
Securities sold under repurchase agreements (Repos) totaled $2.0 
billion at September 30, 1996, increasing 3.6% from the year-end
balance outstanding of $1.9 billion.  

The year-to-year changes were affected by the BDT and BNC
acquisition.  As of September 30, 1996, BDT and BNC reported
total assets of $966.2 million, net loans of $607.8 million and
other earning assets of $246.7 million.  Deposits at September
30, 1996 were $866.7 million for BDT and BNC.

Risk Elements in Lending Activities

Total loans outstanding were $8.7 billion as of September
30, 1996, an increase of 6.5% over year-end 1995, and 10.0% above
loans outstanding at September 30, 1995.  The growth reflects the
loan portfolios of BDT and BNC which were acquired and the
securitization of $350 million in mortgage loans both during the
second quarter of 1996.  All of the BDT and BNC loans are
included in the foreign category.  Excluding the impact of these
two transactions, loan growth between year-end 1995 and September
30, 1996 would have been 6.6%.   The following table presents
Bancorp's total loan portfolio for the periods indicated.  Growth
in the portfolio since September 1995 has been largely in the
foreign loans category reflecting the BDT and BNC acquisition.

Loan Portfolio Balances                   Bancorp Hawaii, Inc., and subsidiaries
- --------------------------------------------------------------------------------

September 30  December 31 September 30
(in millions of dollars)                         1996          1995        1995
- --------------------------------------------------------------------------------

Domestic Loans
Commercial and Industrial                 $1,806.6      $1,902.2    $1,863.0
Real Estate
Construction  -- Commercial             216.2         199.6       177.3
-- Residential                28.0          33.7        31.2
Mortgage -- Commercial              1,262.3       1,308.8     1,261.5
-- Residential             2,613.9       2,702.4     2,609.5
Installment                                  826.4         817.3       774.5
Lease Financing                              424.4         392.9       384.6
- --------------------------------------------------------------------------------
Total Domestic                           7,177.8       7,356.9     7,101.6
- --------------------------------------------------------------------------------
Foreign Loans                              1,505.4         795.5       792.4
- --------------------------------------------------------------------------------
Total Loans                             $8,683.2      $8,152.4    $7,894.0
================================================================================

Commercial and Industrial Loans

Commercial and Industrial (C & I) loans ended September 30,
1996 at $1.8 billion.  Decreases of 5.0% and 3.0% are reported
for C & I loans, compared with year-end 1995 and September 30,
1995, respectively.  The decline was the result of large loan
payoffs and limited volume of new loan activity.  Lending to the
cable television and media industry continues to play an
important role.  Loans to the cable television and media
industries totaled $626.5 million, up from $588.0 million and
$615.9 million at year-end 1995 and September 30, 1995,
respectively.

Real Estate Loans

Real estate loans, as a group, remain the largest segment of
the loan portfolio.  As of September 30, 1996, real estate loans
represented 47.4% of total loans.  The table above reports the
details of the loans in the real estate group.  As the table
reflects, residential mortgage loans continue to represent the
majority of the real estate loans.  As of September 30, 1996,
residential mortgages totaled $2.6 billion, compared with $2.7
billion at December 31, 1995 and $2.6 billion at September 30,
1995.  The decrease from year-end 1995 resulted from the
securitization of $350 million in residential mortgages in the
second quarter of this year.

Commercial mortgage loans totaled $1.5 billion at September
30, 1996, similar to the $1.5 billion at year-end 1995 and $1.4
billion at September 30, 1995.  Commercial mortgage loans are
generally secured by real estate located in Hawaii, although
commercial mortgage loans totaling approximately $48.4 million
are outstanding in Arizona, largely at First National Bank of
Arizona (FNBA) and approximately $182.1 million are outstanding
in Guam at Bank of Hawaii and First Savings and Loan Association
of America.  As reported in Bancorp's 1995 Annual Report to
shareholders, the properties securing these loans remain
diversified.  Properties include shopping centers,
commercial/industrial/warehouse facilities, and office buildings. 
These loans secured by commercial/industrial/warehouse and office
buildings are generally partially occupied by the owners.  

Construction loans represent 5.9% of the real estate
portfolio.  As of September 30, 1996, total construction loans
(both residential and commercial) totaled $244.2 million, an
increase of 4.7% and 17.1% over year-end 1995 and September 30,
1995, respectively.   These loans tend to be short-term in nature
with permanent take out financing commitments in place before the
construction begins.

Other Lending

Other lending includes installment loans, leasing activities
and foreign loans.  Installment loans increased ending the third
quarter of 1996 at $826.4 million, compared with $817.3 million
at year-end 1995 and $774.5 million at September 30, 1995.  
Credit cards (included in the installment totals) have grown to
$268.0 million as of September 30, 1996, up 2.4% from year-end
1995 and 12.7% from the same date a year ago.  This growth
results from the expansion of credit card activity in the Bank of
Hawaii with its Contiki Card, co-branded Continental Airlines
Card in Micronesia and the MasterCard programs all introduced in
1995.  Also included in installment loans are consumer
installment loans which totaled $483.9 million at September 30,
1996, compared with $457.8 million at December 31, 1995 and
$437.4 million on September 30, 1995.  These consumer installment
loans consist mainly of auto loans (direct and indirect),
unsecured creditlines, and guaranteed student loans.

Leasing activity has increased 8% since year-end 1995.  At
September 30, 1996, total leases outstanding were $424.4 million
compared with $392.9 million at year-end 1995 and $384.6 million
September 30, 1995.      

Foreign loans totaled $1.5 billion at September 30, 1996,
almost double the outstanding balances at year-end 1995 and
September 30, 1995.  The increase reflects the acquisition of the
loan portfolios of BDT and BNC in the second quarter of 1996. 
BDT and BNC reported total loans of $617.6 million at September
30, 1996, more than half of which was in the C & I category.

Non-Performing Assets and Past Due Loans

Total non-performing assets (NPA) which include non-accrual
loans and foreclosed real estate totaled $98.6 million or 1.14%
of total loans outstanding as of September 30, 1996.  This ratio
has grown from 0.70% at both year-end 1995 and  September 30,
1995.  Total non-performing assets have increased with the
acquisition of BDT and BNC who reported $21.5 million in NPA as
of September 30, 1996.  

Non-accrual loans increased during the quarter ending
September 30, 1996 to $89.7 million.  Comparatively, non-accrual
loans totaled $51.6 million at September 30, 1995, $47.6 million
at year-end 1995, and $74.4 million at June 30, 1996.  The large 
increase reflected the non-accrual loans from BDT and BNC and
larger loans (two in the commercial category and two in the
commercial real estate category) aggregating $9.0 million placed
on non-accrual during the third quarter of 1996.  Non-accrual
residential real estate loans have increased to $23.9 million at
September 30, 1996 from $14.7 million at year-end 1995 and $19.0
million a year ago.  

Foreclosed real estate has decreased slightly from year-end
to $8.9 million.  There were less than 20 properties in the
foreclosed real estate category as of September 30, 1996.
Foreclosed real estate remains at low levels representing 0.06%
of total assets as of September 30, 1996.

Accruing loans past due 90 days or more increased from $20.7
million at year-end 1995 to $35.4 million at September 30, 1996. 
Accruing loans past due 90 days were $21.3 million and $35.0
million at the ends of the first and second quarters of 1996,
respectively.  As the table below shows, much of the increase has
been in the foreign category reflecting the acquisition of the
banks in the South Pacific.  There is also, however, an increase
in the level of installment loan delinquencies which has followed
a trend experienced by other banks on the U. S. mainland.    

Total NPAs and loans 90 days past due totaled $134.0 million
at September 30, 1996, compared with $77.6 million and $71.4
million at year-end 1995 and September 30, 1995, respectively. 
Total NPAs and loans 90 days past due represented 1.54% of total
loans outstanding at September 30, 1996, compared with 0.95% at
year-end 1995 and 0.90% at September 30, 1995.  

The following table presents NPAs and loans past due 90 days
for the periods indicated.

Bancorp Hawaii, Inc.
Consolidated Non-Performing Assets and Accruing Loans Past Due 90 Days or More
- -------------------------------------------------------------------------------

September 30   December 31 September 30
(in millions of dollars)                       1996          1995         1995
- -------------------------------------------------------------------------------

Non-Accrual Loans
Commercial                                 $23.3         $16.9        $15.4
Real Estate
Construction                               0.3           0.3          0.5
Commercial                                18.0          14.9         15.8
Residential                               23.9          14.7         19.0
Installment                                  2.2           0.8          0.9
Leases                                        --            --           --
Foreign                                     21.4            --           --
- -------------------------------------------------------------------------------
Subtotal                              89.1          47.6         51.6

Foreclosed Real Estate
Domestic                                     8.9           9.3          3.8
Foreign                                       --            --           --
- -------------------------------------------------------------------------------
Subtotal                               8.9           9.3          3.8
- -------------------------------------------------------------------------------
Total Non-Performing Assets               98.0          56.9         55.4
- -------------------------------------------------------------------------------

Accruing Loans Past Due 90 Days or More
Commercial                                  11.6           1.8          1.2
Real Estate
Construction                               0.3            --           --
Commercial                                 5.3           2.4          0.1
Residential                                7.7           5.8          7.5
Installment                                  9.7          10.5          7.1
Leases                                       0.3           0.2          0.1
Foreign                                       --            --           --
- -------------------------------------------------------------------------------
Subtotal                              34.9          20.7         16.0
- -------------------------------------------------------------------------------
Total                                   $132.9         $77.6        $71.4
===============================================================================

Ratio of Non-Performing Assets
to Total Loans                              1.13%         0.70%        0.70%
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Ratio of Non-Performing Assets
and Accruing Loans Past Due
90 Days or More to Total Loans              1.53%         0.95%        0.90%
- -------------------------------------------------------------------------------

Summary of Loan Loss Experience

The reserve for loan losses totaled $167.8 million, 1.97% of
loans outstanding as of September 30, 1996.  Comparatively, this
ratio was 1.95% at September 30, 1995 and 1.90% at year-end 1995. 

The provision for losses for the third quarter of 1996 was
$3.7 million, bringing the year-to-date loss provision to $12.3
million.  Comparatively, the year-to-date provision for losses
was $13.0 million as of this date in 1995.  Net recoveries of
$0.8 million was recognized for the third quarter which brings
year-to-date net charge-offs to $3.4 million through September
30, 1996.  

Gross charge-offs for the third quarter were $9.1 million,
resulting in year-to-date charge-offs of $30.0 million.  Gross
charge-offs were $21.6 million for the first nine months of 1995. 
Recoveries have been strong during the year, partly due to the
recovery of $7.0 million on loans secured by commercial leasehold
property charged-off in 1992 and 1993.  For the year-to-date,
$26.6 million has been recorded as recoveries.   

The year-to-date annualized ratio of net charge-offs to
average loans outstanding at September 30, 1996 was -0.04%,
compared with 0.18% at year-end 1995 and 0.19% at September 30,
1995.  

A detailed breakdown of the loan loss reserve including
charge-offs and recoveries by category is presented in the
following table.

Summary of Loss Experience                                                     Bancorp Hawaii, Inc.
- ---------------------------------------------------------------------------------------------------

Third       Third     First Nine     First Nine
Quarter     Quarter         Months         Months
(in millions of dollars)                            1996        1995           1996           1995
- ---------------------------------------------------------------------------------------------------

Average Loans Outstanding                       $8,467.4    $7,611.8       $8,317.5       $7,603.4
Balance of Reserve for Possible Loan Losses
at Beginning of Period                         $163.3      $150.3         $152.0         $148.5
Loans Charged Off
Commercial and Industrial                         2.1         0.8            6.0            7.4
Real Estate - Construction                         --          --             --            2.1
Real Estate - Mortgage
Commercial                                      1.5         1.0            2.8            1.5
Residential                                     0.1         0.5            1.0            0.7
Installment                                       5.3         3.2           19.9            9.6
Foreign                                            --          --             --             --
Leases                                            0.1         0.2            0.3            0.3
- ---------------------------------------------------------------------------------------------------
Total Charged Off                                    9.1         5.7           30.0           21.6
Recoveries on Loans Previously Charged Off
Commercial and Industrial                         8.1         0.4           21.3            5.9
Real Estate - Construction                         --          --            0.7             --
Real Estate - Mortgage
Commercial                                       --         0.1            0.1            0.1
Residential                                     0.2         0.1            0.4            0.1
Installment                                       1.4         0.7            3.5            2.4
Foreign                                           0.1         0.3            0.1            1.6
Leases                                            0.1         0.3            0.5            0.9
- ---------------------------------------------------------------------------------------------------
Total Recoveries                                     9.9         1.9           26.6           11.0
- ---------------------------------------------------------------------------------------------------
Net Charge Offs (Recoveries)                        (0.8)        3.8            3.4           10.6
Provision Charged to Operating Expenses              3.7         4.4           12.3           13.0
Reserves Acquired (Sold)                              --          --            6.9             --
- ---------------------------------------------------------------------------------------------------
Balance at End of Period                          $167.8      $150.9         $167.8         $150.9
===================================================================================================
Ratio of Net Charge Offs (Recoveries) to
Average Loans Outstanding  (annualized)          -0.04%       0.20%          0.05%          0.19%
- ---------------------------------------------------------------------------------------------------
Ratio of Reserve to Loans Outstanding               1.97%       1.95%          1.97%          1.95%
- ---------------------------------------------------------------------------------------------------

Capital

Bancorp's total capital at September 30, 1996 totaled $1.1
billion.  New shares issued for the profit-sharing, stock option
and dividend reinvestment plans increased capital by $2.6 million
during the quarter, $11.1 million from these sources for the
year-to-date.  Under Bancorp's continuing stock repurchase
programs, $9.9 million of shares were repurchased during the
third quarter of 1996.  Dividends for the quarter increased to
$12.3 million, compared with $11.3 million for the third quarter
of 1995.  The dividends were paid at $0.30 per share for the
third quarter of 1996.

Regulatory risk-based capital remained well above minimum
guidelines.  At September 30, 1996, Bancorp's Total Capital and
Tier 1 Capital ratios were 11.95% and 9.57%, respectively.  This
compares with year-end 1995, when the Total Capital Ratio was
12.74% and the Tier 1 Capital Ratio was 10.25%.  Regulatory
guidelines prescribe a minimum Total Capital Ratio of 10.00% and
a Tier 1 Capital Ratio of 6.00% for an institution to qualify as
well capitalized.  Bancorp's strategy is to maintain its capital
ratios at levels to meet this qualification to benefit from the
financial and regulatory incentives provided to well capitalized
companies.

In addition, the leverage ratio, which represents the ratio
of Tier 1 Capital to total quarterly average assets, was 7.41% at
September 30, 1996, compared to 7.82% at year-end 1995.  The
required minimum ratio is 5.00%, to qualify an institution as
well capitalized.

Spread Management

The average net interest margin or spread on earning assets
for the third quarter of 1996 was 3.80%, an increase from the
3.74% reported for the same quarter in 1995 and a decrease from
the 3.91% reported for the second quarter of 1996.  Year-to-date
spread for 1996 was 3.83% compared with 3.72% for the same period
in 1995 and the full year.  Although spread has decreased between
the second and third quarters of 1996 with the increase in
average earning assets reported during the quarter, net interest
income increased $1.6 million on a taxable equivalent basis.

The yield on earning assets for the third quarter of 1996
was 7.76%, decreasing from the 7.88% reported for the second
quarter of 1996, and the 7.80% for the third quarter of 1995. 
The yield on earnings assets was 7.77% for all of 1995.  The cost
of funds rate was 4.60% for the quarter ended September 30, 1996,
compared with the 4.76% reported for the second quarter of 1996. 
Comparatively, the cost of funds rate was 4.82% for the third
quarter of 1995 and 4.79% for all of 1995.  

Average earning assets for the third quarter of 1996 were
$12.8 billion, compared with $12.5 billion for the second quarter
and $12.4 billion for the year-to-date.

Consolidated Average Balances and Interest Rates Taxable Equivalent  Bancorp Hawaii, Inc. and subsidiaries
- ----------------------------------------------------------------------------------------------------------

Three Months Ended           Three Months Ended
September 30, 1996           September 30, 1995
Average Income/Yield/        Average Income/Yield/
(in millions of dollars)                               Balance Expense  Rate        Balance Expense  Rate
- ----------------------------------------------------------------------------------------------------------

Earning Assets
Interest Bearing Deposits                             $786.1   $9.2   4.67%        $695.9  $10.4   5.92%
Investment Securities
-Taxable                                           1,261.8   20.5   6.48        1,550.0   23.4   5.98
-Tax-Exempt                                           12.7    0.5  14.12           15.3    0.5  13.16
2,229.4   35.9   6.41        1,587.8   26.9   6.73
Funds Sold                                              90.7    0.8   3.63           72.6    0.7   3.83
Net Loans
-Domestic                                          6,990.3  142.4   8.10        6,843.0  143.5   8.32
-Foreign                                           1,477.1   34.8   9.37          768.8   13.5   6.97
Loan Fees                                                       6.4                          7.8
------------------------     ------------------------
Total Earning Assets                              12,848.1  250.5   7.76       11,533.4  226.7   7.80
Cash and Due From Banks                                  463.7                        457.9
Other Assets                                             438.2                        405.3
----------                   ----------
Total Assets                                     $13,750.0                    $12,396.6
==========                   ==========

Interest Bearing Liabilities
Domestic Deposits - Demand                          $1,764.1   11.7   2.65       $1,717.6   12.9   2.98
- Savings                            913.4    5.8   2.51        1,036.4    7.7   2.95
- Time                             2,620.1   35.5   5.40        1,829.8   23.7   5.14
------------------------     ------------------------
Total Domestic                                     5,297.6   53.0   3.98        4,583.8   44.3   3.84
Total Foreign                                      1,915.8   23.4   4.85          913.2   15.6   6.78
------------------------     ------------------------
Total Deposits                                     7,213.4   76.4   4.21        5,497.0   59.9   4.33
Short-Term Borrowings                                  2,727.4   36.3   5.30        3,199.2   43.9   5.45
Long-Term Debt                                         1,120.1   15.2   5.40        1,003.7   14.0   5.54
------------------------     ------------------------
Total Interest Bearing Liabilities                11,060.9  127.9   4.60        9,699.9  117.8   4.82
------------------------     ------------------------
Net Interest Income                                             122.6   3.16                 108.9   2.98
Average Spread on Earning Assets                                        3.80%                        3.74%
Demand Deposits                                        1,364.3                      1,406.8
Other Liabilities                                        254.5                        252.1
Shareholders' Equity                                   1,070.3                      1,037.8
----------                   ----------
Total Liabilities and Shareholders' Equity       $13,750.0                    $12,396.6
==========                   ==========

Provision for Possible Losses                                     3.7                          4.4
Net Overhead                                                     69.1                         52.0
-------                      -------
Income Before Income Taxes                                       49.8                         52.5
Provision for Income Taxes                                       18.2                         19.2
Tax-Equivalent Adjustment                                         0.3                          0.4
-------                      -------
Net Income                                                      $31.3                        $32.9
=======                      =======

Consolidated Average Balances and Interest Rates Taxable Equivalent  Bancorp Hawaii, Inc. and subsidiaries
- ----------------------------------------------------------------------------------------------------------

Nine Months Ended            Nine Months Ended
September 30, 1996           September 30, 1995
Average Income/Yield/        Average Income/Yield/
(in millions of dollars)                               Balance Expense  Rate        Balance Expense  Rate
- ----------------------------------------------------------------------------------------------------------

Earning Assets
Interest Bearing Deposits                             $730.8  $28.1   5.14%        $648.1  $28.8   5.93%
Investment Securities
-Taxable                                           1,026.4   49.7   6.47        1,545.3   70.1   6.07
-Tax-Exempt                                           13.2    1.4  14.06           16.5    1.6  13.06
2,262.7  108.8   6.42        1,590.1   78.2   6.57
Funds Sold                                              87.5    2.9   4.43           65.9    2.5   5.17
Net Loans
-Domestic                                          7,132.3  438.3   8.21        6,868.5  424.7   8.27
-Foreign                                           1,185.2   74.1   8.36          734.8   37.3   6.79
Loan Fees                                                      23.0                         20.9
------------------------     ------------------------
Total Earning Assets                              12,438.1  726.3   7.80       11,469.2  664.1   7.74
Cash and Due From Banks                                  455.5                        471.1
Other Assets                                             429.7                        388.7
----------                   ----------
Total Assets                                     $13,323.3                    $12,329.0
==========                   ==========

Interest Bearing Liabilities
Domestic Deposits - Demand                          $1,726.4   35.5   2.74       $1,759.1   38.7   2.95
- Savings                            956.5   18.1   2.53        1,072.8   23.1   2.88
- Time                             2,398.4   97.2   5.41        1,774.9   72.3   5.44
------------------------     ------------------------
Total Domestic                                     5,081.3  150.8   3.96        4,606.8  134.1   3.89
Total Foreign                                      1,566.3   58.9   5.03          915.1   39.8   5.82
------------------------     ------------------------
Total Deposits                                     6,647.6  209.7   4.21        5,521.9  173.9   4.21
Short-Term Borrowings                                  2,827.3  112.5   5.31        3,169.7  129.5   5.46
Long-Term Debt                                         1,174.0   47.2   5.37          988.6   41.4   5.60
------------------------     ------------------------
Total Interest Bearing Liabilities                10,648.9  369.4   4.63        9,680.2  344.8   4.76
------------------------     ------------------------
Net Interest Income                                             356.9   3.17                 319.3   2.98
Average Spread on Earning Assets                                        3.83%                        3.72%
Demand Deposits                                        1,380.1                      1,404.7
Other Liabilities                                        227.0                        229.2
Shareholders' Equity                                   1,067.3                      1,014.9
----------                   ----------
Total Liabilities and Shareholders' Equity       $13,323.3                    $12,329.0
==========                   ==========

Provision for Possible Losses                                    12.3                         13.0
Net Overhead                                                    190.1                        160.9
-------                      -------
Income Before Income Taxes                                      154.5                        145.4
Provision for Income Taxes                                       54.9                         54.4
Tax-Equivalent Adjustment                                         0.9                          1.3
-------                      -------
Net Income                                                      $98.7                        $89.7
=======                      =======

Interest Rate Risk and Derivatives

As discussed in Bancorp's 1995 Annual Report, Bancorp
utilizes interest rate sensitivity analysis and computer
simulation techniques to measure the exposure of its earnings to
interest rate movements.  The objective of the process is to
position its balance sheet to optimize earnings without unduly
increasing risk.  The interest rate sensitivity table presents
the possible exposure to interest rate movements for various time
frames as of September 30, 1996.  The distribution of assets and
liabilities in this table is generally made using a combination
of maturities, call provisions, repricing frequency, prepayment
patterns all of which are further adjusted for historic trends
and tendencies.  Bancorp analyzes historic data trends for
balance sheet items and makes adjustments for interest rate
sensitivity characteristics as necessary.  For example, a portion
of Bancorp's interest bearing demand and savings balances are
relatively insensitive to changes in interest rates. 
Consequently, Bancorp has allocated portions of those balances to
longer term interest rate sensitivity periods.  As the table
indicates, Bancorp's one-year cumulative asset sensitive gap
totaled $267.4 million, representing 1.94% of total assets. 
Comparatively, the one-year cumulative gap was $127.6 million
liability sensitive at year-end 1995, or 0.97% of total assets.

Bancorp uses interest rate swaps as a cost effective risk
management tool for dealing with interest rate risk.  Swap
activity remains limited and during the first nine months of 1996
only reflected maturities of existing swap agreements.  At
September 30, 1996, the notional amount of swaps totaled $0.7
billion compared with $1.1 billion at year-end 1995.  Net expense
on interest rate swap agreements totaled $1.0 million for the
third quarter of 1996 and $3.2 million through September 30,
1996.  Comparatively, net expense of $11.7 million was recognized
for all of 1995.

Interest Rate Sensitivity Table                        Bancorp Hawaii, Inc. and subsidiaries
- --------------------------------------------------------------------------------------------

SEPTEMBER 30, 1996                                                    OVER NON-INTEREST
(in millions of dollars)   0 - 90 DAYS 91-365 DAYS 1 - 5 YEARS     5 YEARS      BEARING
- --------------------------------------------------------------------------------------------

ASSETS (1)
INVESTMENT SECURITIES           1,432.5       863.6       881.6       436.0           -
SHORT TERM INVESTMENTS             78.2        10.0          -           -            -
INTERNATIONAL ASSETS              901.0       311.0        22.7        24.7         23.1
DOMESTIC LOANS (2)              2,884.2     2,140.9     1,952.7       812.2         66.5
TRADING SECURITIES                   -           -          1.4          -            -
OTHER ASSETS                       73.1        36.6       256.0          -         572.4
TOTAL ASSETS                    5,369.0     3,362.1     3,114.4     1,272.9        662.0

LIABILITIES AND CAPITAL (1)
NON-INT BEARING DEMAND (3)        250.1       165.9       639.5       263.9           -
INT BEARING DEMAND (3)            247.2       247.2       824.2       329.7           -
SAVINGS (3)                       106.8       106.8       498.3       178.0           -
TIME DEPOSITS                     756.7     1,166.5       622.4        41.1           -
FOREIGN DEPOSITS                1,312.6       279.0        47.2          -         335.4
S/T BORROWINGS                  2,064.0       825.8        75.3          -            -
LONG-TERM DEBT                    212.1       286.6       339.3       119.4           -
OTHER LIABILITIES                    -           -           -           -         374.7
CAPITAL                              -           -           -           -       1,064.7
TOTAL LIABILITIES AND CAPIT     4,949.5     3,077.8     3,046.2       932.1      1,774.8

INTEREST RATE SWAPS              -519.7        83.3       436.4          -            -

INTEREST SENSITIVITY GAP         -100.2       367.6       504.6       340.8      -1112.8

CUMULATIVE GAP                   -100.2       267.4       772.0      1112.8           -

PERCENTAGE OF TOTAL ASSETS       -0.73%       1.94%       5.60%       8.08%           -

Assumptions used:
(1) Based on repricing date.
(2) Includes the effect of estimated amortization.
(3) Historical analysis shows that these deposit categories, while technically subject to immediate
withdrawal, actually display sensitivity characteristics that generally fall within one and five years.  The
allocation presented is based on that historic analysis.

Liquidity

The ability to meet day-to-day financial needs of Bancorp's
customer base is essential.  Much of the strategy of meeting
liquidity needs as described in Bancorp's 1995 Annual Report
remains in place. 

At September 30, 1996, deposits were $8.4 billion, compared
to $8.4 billion and $7.6 billion reported at June 30, 1996 and
year-end 1995, respectively.  The growth in deposits is largely
reflected in the Foreign category which was due to the
acquisition of BDT and BNC earlier this year.  The foreign
deposit category is generally made up of larger inter-bank
deposits, except in the case of the BDT and BNC deposits which
were $0.9 billion at September 30, 1996.  BDT and BNC deposits
are comprised largely of retail type deposits, including demand,
savings and time deposits.  The competition for deposits not only
by banks and saving and loan companies, but also by securities
brokerage firms continues to impact the level of deposits.  Repos
which are offered to government depositors as an alternative to
deposits were $2.0 billion at September 30, 1996, compared to
$1.7 billion and $1.9 billion at June 30, 1996, and year-end
1995, respectively.  

Short term borrowing, including Fed Funds, decreased to $1.0
billion at the end of September 1996 from $1.1 billion at June
30, 1996 and $1.3 billion at year-end 1995.  Long-term debt has
decreased from $1.1 billion at year-end 1995 to $1.0 billion at
the end of September 1996, reflecting maturities.  During the
quarter no new debt was issued under Bank of Hawaii's $1 billion
"revolving" Bank Note program.  At September 30, 1996, Bank Notes
issued by Bank of Hawaii totaled $600.0 million, compared to
$849.6  million outstanding at year-end 1995.

Net Overhead

Bancorp manages its net overhead by focusing on the ratio of
non-interest expense to non-interest income.  Bancorp's long term
goal, as stated in its 1995 Annual Report is to have a ratio of 
2 to 1, where fee income offsets at least half of the cost of
operations.  The ratio for the year-to-date through September 30,
1996 was 2.53, the same ratio for all of 1995.  

Bancorp's efficiency ratio was 65.5% for the first nine
months of 1996.  This productivity indicator expressed as a
percentage is non-interest expense divided by net operating
revenue (net interest income plus non-interest income before
securities transactions).  Comparatively, the annual efficiency
ratios for 1995 and 1994 were 63.6% and 60.5 %, respectively.

Non-interest income for the third quarter of 1996 was $43.5
million, an increase of 21.2% over the similar quarter of 1995
and up 2.0% over the second quarter of 1996.  For the year-to-
date, non-interest income totaled $123.8 million, up 10.9%
compared with the same period last year.  For the year-to-date,
BDT and BNC contributed $7.8 million in non-interest income
driving the increase.   Trust income for the first nine months
totaled $37.1 million, down 0.9% compared with the same period a
year ago.  Service charges on deposit accounts are reporting
growth of 10.5% year over year through September 30.   Fees,
exchange, and other service charges through September 30, 1996
totaled $40.7 million, a 10.3% increase compared with the same
period a year ago.  The increase was largely due to the BDT and
BNC fees and increases in ATM fees and mortgage servicing fees. 
Other operating income for the year-to-date was $24.5 million
through September, an increase from the $15.8 million reported
for the same period in 1995.  The increase was due to the fees
reported by BDT and BNC ($3.3 million for the year-to-date),
higher earnings of the remaining affiliates, interest earned on a
cash basis, and income from Bank owned life insurance policies.

Investment Securities net gains and losses for 1996 through
September were $0.2 million gain, compared with $2.3 million gain
in 1995 for the same period.  The gains in the prior year were
largely due to the liquidation of securities held by Bancorp
Hawaii Small Business Investment Corporation.

Non-interest expense for the third quarter of 1996 totaled
$112.6 million, compared with $87.9 million for the same period
in 1995.  Non-interest expenses for the first two quarters of
1996 were $97.6 million and $103.8 million, respectively, the
increase between the first and second quarters reflecting the
acquisition of BDT and BNC.  The increase for the third quarter
resulted from a full quarter of expenses for BDT and BNC and the
SAIF expense mentioned earlier.

Salaries and benefits totaled $52.7 million for the third
quarter of 1996 compared with $45.7 million for the same quarter
a year ago.  The increase is primarily due to the consolidation
of BDT and BNC into Bancorp's totals.  BDT and BNC reported
salaries and benefits of $4.6 million for the quarter.  For the
year-to-date, Bancorp's salary and benefits totaled $155.7
million compared with $138.8 million for the same period in 1995. 
Again, the increase is partly due to the BDT and BNC salary and
benefit expenses.  The remaining increase is attributed to higher
compensation expenses that are driven by the profitability of the
company; expenses such as profit-sharing and incentive
compensation are greater than in the prior year.

Net occupancy and equipment expense for the third quarter
totaled $19.3 million, compared to $17.2 million for the same
quarter in 1995, an increase of 12.4%.  For the year-to-date, net
occupancy and equipment expense totaled $55.3 million, an
increase of 2.0%, compared with the same period in 1995.   

Other operating expenses for the third quarter totaled $40.0
million, an increase from the $24.7 million reported for the same
quarter in 1995.  For the year-to-date, other operating expense
totaled $101.8 million in 1996, compared with $78.8 million in
1995.  The increase in this expense was driven by the expenses
for BDT and BNC ($10.3  million), the special SAIF assessment of
$5.0 million and the loss on the early disposition of leased
equipment recorded in the first quarter of $2.8 million.

Part II. - Other Information

Items 1 to 5 omitted pursuant to instructions.

Item 6 - Exhibits and Reports on Form 8-K

(a)  The following exhibits are filed herewith:

Exhibit #11 - Statement regarding computation of per
share earnings.

Exhibit #20 - Report furnished to shareholders for the
quarter ended June 30, 1996.

Exhibit #27 - Financial Data Schedule.

(b)  There were no reports on Form 8-K filed during the
quarter ended September 30, 1996.

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 thereunto duly
authorized.

Date    November 13, 1996          BANCORP HAWAII, INC.

/s/ RICHARD J. DAHL      
(Signature)

Richard J. Dahl
President and Chief Operating
Officer                  

/s/ DAVID A. HOULE       
(Signature)

David A. Houle
Senior Vice President,
Treasurer and Chief Financial
Officer

Bancorp Hawaii, Inc.
Exhibit 11 - Statement Regarding Computation of Per Share Earnings
Nine Months Ended September 30

Fully
Primary          Diluted
-----------     ------------

1996
----
Net Income                                $98,651,000      $98,651,000
===========      ===========

Daily Average Shares Outstanding           40,939,442       40,939,442
Shares Assumed Issued for Stock Options       395,130          395,130
-----------      -----------
41,334,572       41,334,572
===========      ===========

Earnings Per Common Share and
Common Share Equivalents                      $2.39            $2.39
===========      ===========

1995
----
Net Income                                $89,716,000      $89,716,000
===========      ===========

Daily Average Shares Outstanding           41,730,453       41,730,453
Shares Assumed Issued for Stock Options       339,939          380,520
-----------      -----------
42,070,392       42,110,973
===========      ===========

Earnings Per Common Share and
Common Share Equivalents                      $2.13            $2.13
===========      ===========

To Our Shareholders:

Hawaii's strengthening economy and an improved interest rate
environment gave rise to Bancorp Hawaii's higher profits and
strong earnings growth this quarter.  Your company reported
second quarter earnings of $34.6 million, 21.2 percent above last
year's second quarter and 5.8 percent above the first quarter of
1996.  Earnings per share for the second quarter were $0.84, an
increase of 23.5 percent over the $0.68 reported for the second
quarter of 1995.

Through the first six months of 1996 Bancorp's earnings were
$67.3 million, an 18.5 percent increase from $56.8 million
reported for the first half of 1995.  Year-to-date earnings per
share of $1.63 were 20.7 percent higher than the $1.35 reported
for the first six months of 1995.  Deposits and repurchase
agreements reached $10.1 billion, up from $9.3 billion for the
same period last year.  Net loans increased to $8.2 billion, up
from $7.4 billion reported at June 30, 1995.  Year-to-date return
on average assets was 1.03 percent, and return on average equity
was 12.70 percent.

Your company's results for the second quarter reflect its
focus on improving asset mix and building core earnings. 
Diligent efforts in collection of loans previously charged-off
resulted in recoveries of more than $14 million for the second
quarter allowing loan loss provisions to remain at slightly over
$4 million.

Activities in Bancorp's overseas markets also exerted a
positive impact on the company's quarterly results.  The
acquisition of majority holding in Banque de Tahiti and Banque de
Nouvelle Caledonie was finalized in May, and the operating
results of these institutions are included in Bancorp's
consolidated financial statements for the second quarter.  These
markets have excellent potential for growth, and we anticipate
that our subsidiaries and branches throughout the South and West
Pacific will continue to perform well.

In June Bank of Hawaii upgraded its representative office in
Taipei to a full service branch specializing in corporate
services, trade-related finance, and intra-Pacific investment.
Taiwan's thriving market offers Bancorp tremendous growth
opportunities.

The quarter also saw the opening of First National Bank of
Arizona's (FNBA's) 6th office in the Phoenix metropolitan area. 
FNBA, Bancorp's U.S. Mainland subsidiary, turned in an excellent
performance in terms of growth and profitability.  In addition,
Bank of Hawaii opened its first in-store branch on Maui at Star
Markets in Kihei last month and introduced a number of new
products for customers-both business clients and
consumers-including the innovative Bankoh Mileage Access debit
card, the second of its kind in the nation, and the Bankoh
Business Service Center, a unique breakthrough approach to
merchant servicing.

On July 26 your Board of Directors declared a quarterly
dividend of 30 cents per share on the outstanding common stock
representing an increase of 7.1 percent from 28 cents per share. 
Bancorp last increased its dividend in October 1995 when the
board approved a 3/4 cent per share increase.  The dividend will
be payable on September 13, 1996 to shareholders of record at the
close of business on August 19, 1996.

We are encouraged by Bancorp's performance for the first
half of 1996 and staunchly confident in the economic potential of
your company's franchise.  These results assure us that we are on
the right track for success as we continue to seek new
opportunities to develop and grow within our markets.  We count
your support and confidence among our most valuable assets.

Sincerely,

LAWRENCE M. JOHNSON

Lawrence M. Johnson
Chairman and Chief Executive Officer

Corporate Offices:
Financial Plaza of the Pacific
130 Merchant Street
Honolulu, Hawaii  96813

Investor or Analyst Inquiries:
David A. Houle
Senior Vice President, Treasurer and Chief Financial Officer
(808) 537-8288

or

Sharlene K. Bliss
Investor Relations Officer
(808) 537-8037

or 

Cori C. Weston
Corporate Secretary
(808) 537-8272

Highlights  (Unaudited)                                            Bancorp Hawaii, Inc., and subsidiaries
- ----------------------------------------------------------------------------------------------------------

June 30      June 30
1996         1995
- ----------------------------------------------------------------------------------------------------------
Return on Average Assets                                                                1.03%        0.93%
- ----------------------------------------------------------------------------------------------------------
Return on Average Equity                                                               12.70%       11.42%
- ----------------------------------------------------------------------------------------------------------
Average Spread on Earning Assets                                                        3.85%        3.71%
- ----------------------------------------------------------------------------------------------------------
Book Value Per Common Share                                                           $25.71       $24.59
- ----------------------------------------------------------------------------------------------------------
Loss Reserve/Loans and Leases Outstanding                                               1.95%        1.99%
- ----------------------------------------------------------------------------------------------------------
Average Equity/Average Assets                                                           8.14%        8.16%
- ----------------------------------------------------------------------------------------------------------

Common Stock Price Range                                            High                 Low     Dividend
1995................................                              $37.13              $24.88        $1.08
1996 First Quarter............                                    $36.25              $33.25        $0.28
Second Quarter................                               $37.63              $33.13        $0.28

Consolidated Statements of Income (Unaudited)
- --------------------------------------------------------------------------------------------------------------------------------

3 Months     3 Months     6 Months     6 Months
Ended        Ended        Ended        Ended
June 30      June 30      June 30      June 30
(in thousands of dollars except per share amounts)                                  1996         1995         1996         1995
- --------------------------------------------------------------------------------------------------------------------------------

Total Interest Income                                                           $244,038     $221,830     $475,125     $436,415
Total Interest Expense                                                           123,209      114,683      241,459      226,947
- --------------------------------------------------------------------------------------------------------------------------------
Net Interest Income                                                              120,829      107,147      233,666      209,468
Provision for Possible Loan Losses                                                 4,163        4,120        8,587        8,573
- --------------------------------------------------------------------------------------------------------------------------------
Net Interest Income After Provision for Possible Loan Losses                     116,666      103,027      225,079      200,895
Total Non-Interest Income                                                         42,666       35,978       80,292       75,789
Total Non-Interest Expense                                                       103,787       93,689      201,365      184,744
- --------------------------------------------------------------------------------------------------------------------------------
Income Before Income Taxes                                                        55,545       45,316      104,006       91,940
Provision for Income Taxes                                                        20,932       16,768       36,683       35,144
- --------------------------------------------------------------------------------------------------------------------------------
Net Income                                                                       $34,613      $28,548      $67,323      $56,796
================================================================================================================================
Earnings Per Common Share and Common Share Equivalents                             $0.84        $0.68        $1.63        $1.35
- --------------------------------------------------------------------------------------------------------------------------------
Average Common Shares and Common Share Equivalents Outstanding                41,276,498   42,121,368   41,411,266   42,129,385
- --------------------------------------------------------------------------------------------------------------------------------

Consolidated Statements of Condition (Unaudited)
- --------------------------------------------------------------------------------------------------------------------------------

June 30  December 31      June 30
1996         1995         1995
- --------------------------------------------------------------------------------------------------------------------------------

Assets
Interest-Bearing Deposits                                                                    $638,204     $789,050     $752,923
Investment Securities (Market Value of $3,465,850, $3,366,266 
and $3,108,419 respectively)                                                              3,498,246    3,360,153    3,117,484
Securities Purchased Under Agreements to Resell                                                    --           --       90,000
Funds Sold                                                                                    218,628      116,173      144,900
Loans                                                                                       8,549,043    8,152,406    7,704,174
Unearned Income                                                                            (177,225)    (147,404)    (142,084)
Reserve for Possible Loan Losses                                                           (163,266)    (151,979)    (150,302)
Net Loans                                                                                   8,208,552    7,853,023    7,411,788
- --------------------------------------------------------------------------------------------------------------------------------
Total Earning Assets                                                                   12,563,630   12,118,399   11,517,095
Cash and Non-Interest Bearing Deposits                                                        482,067      469,031      474,554
Premises and Equipment                                                                        271,762      246,515      231,978
Other Assets                                                                                  372,695      372,839      350,024
- --------------------------------------------------------------------------------------------------------------------------------
Total Assets                                                                          $13,690,154  $13,206,784  $12,573,651
================================================================================================================================

Liabilities
Deposits                                                                                   $8,422,821   $7,576,770   $7,003,918
Securities Sold Under Agreements to Repurchase                                              1,695,907    1,926,540    2,250,738
Funds Purchased                                                                               600,232      787,437      379,473
Short-Term Borrowings                                                                         499,580      476,867      655,652
Other Liabilities                                                                             364,489      321,298      385,362
Long-Term Debt                                                                              1,057,225    1,063,436      877,640
- --------------------------------------------------------------------------------------------------------------------------------
Total Liabilities                                                                      12,640,254   12,152,348   11,552,783

Shareholders' Equity
Common Stock ($2 par value), authorized 100,000,000 shares;
outstanding,  June 1996 - 40,830,130;
December 1995 - 41,340,817; June 1995 - 41,520,923;                                        81,660       82,682       83,042
Surplus                                                                                       221,897      240,080      249,718
Unrealized Valuation Adjustments                                                              (15,760)      13,902       12,410
Retained Earnings                                                                             762,103      717,772      675,698
- --------------------------------------------------------------------------------------------------------------------------------
Total Shareholders' Equity                                                              1,049,900    1,054,436    1,020,868
- --------------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Shareholders' Equity                                            $13,690,154  $13,206,784  $12,573,651
================================================================================================================================

<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE CONSOLIDATED STATEMENTS OF CONDITION AND CONSOLIDATED STATEMENTS
OF INCOME AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1000

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