UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

 
FORM 8-K
 
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of earliest event reported) May 9, 2007
 
BANK OF HAWAII CORPORATION
(Exact name of registrant as specified in its charter)
 
Delaware	 	1-6887	 	99-0148992	
(State of Incorporation)	 	(Commission File Number)	 	(IRS Employer
Identification No.)	
 	 	 	 	 	
130 Merchant Street, Honolulu, Hawaii	 	96813	
(Address of principal executive offices)	 	(Zip Code)	
 
(Registrant’s telephone number, including area code) (808) 537-8430
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

 
Item 5.02.	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.	
 	 	
 	On May 9, 2007, Bank of Hawaii Corporation announced that its Board of Directors has elected Daniel C. Stevens, age 51, Vice Chairman and Chief Financial Officer, effective May 15, 2007.  The public announcement was made by means of a press release, the text of which is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.	
 	 	
 	In connection with the appointment of Daniel C. Stevens as Chief Financial Officer, the Human Resources and Compensation Committee approved a base salary for Mr. Stevens of $350,000, a proposed payout of up to 67.5 percent of his base salary on a prorated basis under the Bank of Hawaii Corporation Executive Incentive Plan and a restricted stock grant award of 4,000 shares of Bank of Hawaii Corporation common stock under the Bank of Hawaii Corporation 2004 Stock and Incentive Plan.	
 	 	
Item 9.01.	Exhibits	
 	 	
 	(d)	Exhibits	

Exhibit No.
99.1         May 9, 2007 Press Release
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 9, 2007	 	BANK OF HAWAII CORPORATION	

 	 	/s/ MARK A. ROSSI	
 	 	Mark A. Rossi
Vice Chairman and Corporate Secretary	

Exhibit 99.1

FOR IMMEDIATE RELEASE
Bank of Hawaii Hires Dan Stevens as Chief Financial Officer
HONOLULU, HAWAII — (May 9, 2007) — Bank of Hawaii Corporation has hired Daniel C. Stevens as Vice Chairman and Chief Financial Officer, effective May 15, 2007.
Stevens, who will report to Chairman and CEO Allan R. Landon, will have overall responsibility for the bank’s financial areas including treasury, accounting and tax.  Additionally, he will have responsibility for facilities management and become a member of the bank’s managing committee.
Landon said, “Dan brings a wide range of financial expertise and experience to Bank of Hawaii.  He has worked for banking institutions of varying sizes as well as other commercial organizations, and is well versed in financial accounting, tax and regulatory issues.  In addition to his professional work, Dan has been involved in community activities and looks forward to being a part of our local community.”
He most recently served as chief financial officer at Taylor Capital Group, the parent company of Cole Taylor Bank in Chicago, Ill. from 2004 to 2006.  Prior to that he was the CFO at UMB Financial Corp. in Kansas City, MO. (2001-2004) and has also held senior financial positions with ABN AMRO and Credit Agricole in Chicago.
Stevens has a bachelor of arts degree from Loyola University and master of science degree in accountancy from DePaul University School of Accounting.
Bank of Hawaii Corporation is a bank holding company providing a broad range of financial products and services to customers in Hawaii and the Pacific Islands (Guam, nearby islands and American Samoa).  The company’s principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii.  For more information about Bank of Hawaii Corporation, see the company’s web site, www.boh.com.