Central Pacific Bank Review 2024

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Central Pacific Bank


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Expert Take

Central Pacific Bank has stood at the center of the Hawaiian marketplace for over six decades. Since 1954, the bank has helped customers and communities find financial stability and make a long-lasting home on the islands. They offer financial services and products ranging from personal checking and savings to business loans to wealth management services.


  • High CD rates
  • Exceptional promotions
  • Lots of checking and savings options


  • No money market account
  • Limited branch and ATM locations

Bonus Offers


Product Variety


Customer Experience


Interest-Bearing Accounts




Free ATM Access


Central Pacific Bank logo

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at Central Pacific Bank

If you live on the Hawaiian islands in the heart of the Pacific, you’re probably curious about your options for financial institutions. Central Pacific Bank, also known as CPB, is one of the longest-standing banks on the islands of Hawaii, and it is known for its commitment to its customers and the communities it serves.

With a ‘Positively Ohana’ mission, they seek to provide financial products and services that build happier families, better communities, and a stronger Hawaii.’

Keep reading to learn more about Central Pacific Bank and its offerings.

About Central Pacific Bank

Central Pacific Bank (CPB) has a fascinating history that spans nearly seven decades. The founders of the bank were Japanese-American veterans of WWII who refused to accept the social inequities they witnessed in immigrant families in Hawaii.

They began meeting regularly to discuss how to open a bank that would serve all the Hawaiian people. In 1954, they opened their doors in downtown Honolulu and began offering personal and small business banking products and services to all customers.

Today, Central Pacific Bank is still deeply committed to its founders’ vision and mission. As a customer, you’ll find a variety of checking, savings, and investment products that cater to individuals and businesses alike.

They have branch locations across the islands of Oahu, Hawaii, Maui, and Kauai, which is perfect for Hawaiian residents. They’ve also adapted to the digital age with a mobile app and online banking platform for managing accounts wherever, and whenever.

Central Pacific Bank: Checking Accounts

Central Pacific Bank has three checking accounts that each cater to digital-first customers, fee-free customers, and students.

1. Shaka Checking

The Shaka Checking account is the first and only digital bank account from Hawaii. This account is managed 100% online and can be opened in as little as five minutes and with as little as $25.

When you open your account, you gain access to features like two-day early direct deposit, up to $20 refunded on ATM fees, and a vibrant Mastercard debit card.

You’ll also earn 1.00% APY on your entire balance if you make 15 debit card point-of-sale transactions worth at least $75 monthly and have a direct deposit of $25 or more each month.

2. Exceptional Checking

The Exceptional Checking account is one of the products in Central Pacific Bank’s Exceptional Plan. The account boasts a number of benefits, such as ATM fee reimbursements nationwide, online bill pay, and mobile banking.

While the account comes with a monthly service fee, it can be waived if you maintain a minimum balance. While the minimum opening balance is a staggering $500, it may be worth it to earn the tiered interest rates that compound daily.

3. Value Checking

The Value Checking account is Central Pacific Bank’s solution to high minimum opening deposits and costly hidden fees. This account requires a $0 minimum opening balance when you open it in a branch or a $25 minimum opening balance when opened online.

While it doesn’t have the interest-bearing capabilities of the Exceptional or Shaka Checking accounts, it does provide free online statements, free branch transactions, and free ATM transactions when using CPB ATMs. Overall, this bare-bones account is perfect for people who want to open an account without all the bells, whistles, or extra fees.

Central Pacific Bank: Savings Accounts

Central Pacific Bank has a whopping five savings accounts to choose from.

Each one has different interest-bearing capabilities, monthly service charges, minimum balances, and opening deposits to meet the needs of different customers.

1. Personal Savings

The Personal Savings account is a straightforward choice for people who want a hassle-free savings solution. It requires a low minimum opening deposit of $100 and a minimum balance of $300 to earn the account interest and avoid the $5 monthly service charge.

The competitive interest rate is compounded daily and quartered monthly, which makes this account an attractive way to grow your savings.

2. Personal Super Savings

The Personal Super Savings is similar to the Personal Savings account but offers an even better interest rate to help you grow your savings more quickly. The account can be opened with at least $100 and requires a $500 minimum balance to avoid the $6 monthly service fee.

The interest on the account is compounded daily and paid monthly. But you can earn a bonus tiered interest rate when you make a deposit of $25 or more and no withdrawals during the month. Otherwise, the standard interest rate applies.

3. Exceptional Savings

The Exceptional Savings account is part of the Exceptional Plan at Central Pacific Bank, which includes the Exceptional Checking account. The account features tiered interest rates, which means the more you save, the more you’ll earn on your balance.

Unlike the Personal and Personal Super accounts, the Exceptional Savings account doesn’t require a minimum balance or monthly service fee. It does, however, require a $500 minimum opening deposit, which can be limiting for many customers.

4. Exceptional Super Savings

Like the Exceptional Savings account, the Exceptional Super Savings account is exclusively for Exceptional Plan customers.

It offers the bank’s best interest rates for savings accounts and also offers the flexibility of a personal savings account. Similar to Personal Super Savings, the Exceptional Super Savings account offers a bonus interest rate when you make one deposit of $25 or more and no withdrawals during the month.

This interest is compounded daily and paid monthly, which helps your account balance grow more quickly than any other account.

5. Starter Savings

The Starter Savings account is specifically designed for children under the age of 17. It features a low minimum opening deposit of $10 and a minimum balance of $25.

If the minimum balance isn’t maintained, the account will be charged a $2 monthly service fee. This account earns interest that is compounded daily and paid quarterly, which is unique for most student savings accounts.

This account also is largely fee-free, with online banking, ATM cards, and ATM access all available at no additional charge.

Central Pacific Bank: CD Account

The Central Pacific Bank certificate of deposit (CD) is a prudent choice for customers who want a low-risk investment with competitive returns. It allows you to earn high interest rates by committing to keep your money deposited for a fixed period of time, also known as a term.

As of January 2024, Central Pacific Bank only offers a Preferred Certificate of Deposit Special with a six-month term and a 4.75% APY, which is competitive with larger banks and credit unions. The minimum balance to open a CD is $25,000, and the balance cannot exceed $1,000,000.

Additional Products

Central Pacific Bank offers a wide range of products and services, including:

  • Credit cards
  • Home equity lines of credit
  • Mortgages
  • Personal loans
  • Auto loans
  • Business checking and savings accounts
  • Business lines of credit
  • Commercial real estate financing
  • Healthcare practice loans
  • Business credit cards


There are many features that come with all Central Pacific Bank accounts that can help you conveniently bank with CPB and manage your accounts.

  • Online and mobile banking: Central Pacific Bank’s digital experience lets you access your accounts from your laptop or mobile device. The highly-rated app and online platform lets you check your transactions, move money between accounts, and deposit checks.
  • Zelle: The Central Pacific Bank app includes Zelle to easily send and receive cash from trusted individuals. Because Zelle is embedded in the app, you won’t need to download a secondary app to send and request money.
  • Credit score monitoring: You can easily access your credit score, full credit report, credit monitoring, and more on the CPB mobile app. By accessing your credit score, you can monitor your credit activity and take control of your financial health.
  • Financial tools: The CPB website and mobile app include tools and resources to help you better manage your financial life. You can access calculators, a financial education blog, and helpful resources to help you understand your finances.

Pricing and Fees

Most banks have hidden fees that come with accounts or are triggered by certain activities, and Central Pacific Bank is no exception. These are the fees that you may be subject to pay if you’re a customer of Central Pacific Bank.

Overdraft Fees

While most banks have overdraft protection programs to prevent additional fees, each bank will still charge overdraft fees if you charge more than your available balance to your account. At Central Pacific Bank, you will be charged $32 for each item that overdrafts your account. This goes for whether the item is paid against insufficient funds or if the item is returned unpaid.

Account Closure Fees

Central Pacific Bank has minimum account balance requirements for nearly all their accounts. If you do not maintain the balance or fail to make a deposit in the first 180 days, you will risk account closure.

If you, for whatever reason, close your account within the first 180 days of account opening, you will be charged an account closure fee.

These are account closure fees for different CPB accounts:

  • Exceptional Checking: $75
  • Exceptional Choice Checking: $75
  • Business Exceptional Checking: $200
  • Other Accounts: $40

Wire Transfer Fees

If you choose to transfer money via wire, you will be charged a fee. These are the various fees for domestic and international wire transfers at Central Pacific Bank:

Incoming Wire Transfer

  • Incoming wire fee: $12 each
  • With Email Notification: $15 each
  • With Mail Notification: $15 each

Outgoing Wire Transfer

  • Domestic:
    • $5,000 or less: $40 each
    • Over $5,000: $75 each
  • International:
    • $5,000 or less: $45 each
    • Over $5,000: $80 each

Safe Deposit Box Fees

Safe deposit boxes are available for annual use at various Central Pacific Bank branch locations. The annual price of a safe deposit box will vary depending on the size of the box.

Here are the corresponding box sizes and annual fees:

Box Size Fee
2” x 5” $35
3” x 5” $50
4” x 5” $60
5” x 5” $65
3” x 10” $75
4” x 10” $85
5” x 10” $95
5” x 15” $100
6” x 10 $105
9” x 10 $130
10” x 10” $175
10” x 15” $190
15” x 15” $265

Getting Started

According to Central Pacific Bank, getting started as a customer is simple and can be accomplished in a few simple steps.

First, you need to provide personal information in the form of an application. Specifically, Central Pacific Bank wants to confirm that you are at least 18 years old, a U.S. citizen or Green Card holder, and are a current resident of the state of Hawaii. You will also be asked to confirm your identity before you can move forward with your application.

Next, you can customize your account preferences, such as personalizing checks, a Mastercard debit card, and ATM card. You will also need to fund your account electronically via ACH or from a debit or credit card in your name.

Once you open your account, you will hear from a CPB representative to explain the features of your new account and ask you to upload a signature specimen to protect your account.


Central Pacific Bank typically runs two to three promotions during a quarter, which is great news for prospective and existing customers.


Central Pacific Bank places an enormous emphasis on safeguarding its customers from fraud and ensuring the stability of their deposits. To achieve this, they have adopted a multi-faceted approach that combines advanced technology, rigorous security protocols, and compliance with industry best practices.

Central Pacific Bank uses sophisticated fraud detection systems to continuously monitor transactions for any suspicious activity. This includes encryption protocols, firewalls, and intrusion detection systems, and secure login processes. In the event of a threat, CPB’s security team promptly intervenes and takes appropriate action, such as freezing accounts and contacting customers.

Central Pacific Bank also complies with industry standards to ensure the stability of their customers’ assets. In the unlikely event of a bank failure, CPB’s affiliation with the Federal Deposit Insurance Corporation (FDIC) protects depositors from losing any money above $250,000. This insurance adds a layer of protection to ensure that customer funds remain safe and accessible.

Customer Support

You can get in touch with Central Pacific Bank’s customer service team through telephone or online chat. Their telephone number is 808-544-0500, and they are available via telephone from Monday through Friday, 8 a.m. – 6 p.m., and Saturday and Sunday, 9 a.m. – 1 p.m.

They are available via chat on the online banking platform and mobile app Monday through Friday, 8 a.m. – 5 p.m.

Customer Reviews

As a local bank with dozens of branches, Central Pacific Bank has a wide range of customer reviews. Based on our research, customer experience can vary a lot from one branch to the next. CPB also has fewer online reviews than larger national banks.

We’ve compiled a few reviews from Central Pacific Bank’s customers to give you an idea of the bank’s overall customer service:

They have a bunch of locations and the tellers are always very very polite. I wish restaurants and other businesses would train their employees the way CPB is trained. I have never left CPB without the teller checking if there is anything else I need and saying Thank you and have a nice day. Standard stuff that matters.
Central Pacific Bank Customer Yelp

I have had a mortgage loan with CPB for 9 years and always paid my loan on time and from bill pay from another bank. In August 2019 they moved their mortgage payment to another site with a company in Pasadena and I was told they can no longer accept bill pay from another bank. Alan from Customer Service helped me out and I will now send my payment to their corporate office in Illinois. Thanks for the assistance.
Central Pacific Bank Customer Yelp

CPB is a nice local bank. I went there to sign up for a bank account and they were really helpful and got me a fee-free checking account really quickly. The whole process only required a brief period and the lady who helped me was really nice and helpful. They even provided a welcome pack for me that included an overview on how the checking account worked and any fees that would be charged for using the account.
Central Pacific Bank Customer DepositAccounts

Pros and Cons

Here are the various advantages and disadvantages of banking with Central Pacific bank:


  • High CD rates: Central Pacific Bank aims to stay competitive with banks and credit unions. Their current 4.33% APY rate is among the higher CD rates on the market today.
  • Lots of checking and savings options: With three checking accounts and 5 savings accounts, Central Pacific Bank offers many options for customers to choose from.
  • Exceptional promotions: Many smaller banks don’t offer promotions on their products or services. Central Pacific Bank offers promotions that rotate throughout the year to encourage new and existing customers to use their services.


  • Limited branch and ATM locations: Because Central Pacific Bank is a Hawaii-based organization, its branches and ATMs are limited to the islands of Hawaii. You also must be a Hawaii resident to become a customer with CPB.
  • No money market account: Central Pacific Bank does not have a money market account product, which can be a con for people who want to take advantage of a hybrid-style


Hawaii has several financial institutions to choose from, which is great news for residents and frequent visitors alike. Before you choose to bank with Central Pacific Bank, here are a few other banks and credit unions to consider.

CIT Bank

CIT Bank is a compelling choice for customers seeking a strong digital banking experience and a wide range of financial products. CIT Bank is the online-only branch of First Citizens Bank, which has been around for centuries. It offers high APYs on products like CDs and savings accounts and has little to no fees. Plus, customers can access their funds through a nationwide network of ATMs.

Hawaii National Bank

Hawaii National Bank has been around nearly as long as Central Pacific Bank, and it is no less dedicated to serving the people of Hawaii. While it only has 11 branches, Hawaii National Bank is available to customers through a robust digital banking and mobile app experience. They offer several ways to waive monthly fees and have a wide array of account types to choose from.

Hawaii Federal Credit Union

For customers seeking a financial institution that is deeply rooted in the community, Hawaii Federal Credit Union (Hawaii FCU) is a standout choice. As a member-owned and -operated entity, Hawaii FCU places a strong emphasis on prioritizing the financial needs of its members. This means lower fees and more competitive rates than what you can expect from a traditional bank. Plus, their commitment to the community means that they are always doing what they can to preserve the Ohana spirit.

Frequently Asked Questions

Where is Central Pacific Bank located?

Central Pacific Bank has 31 branch locations across the islands of Oahu, Hawaii, Maui, and Kuaui.

Who are the executive leaders at Central Pacific Bank?

The president and CEO of CPB is Arnold D. Martines, and the senior executive vice president and CFO is David S. Morimoto.

Is Central Pacific Bank a good bank?

Yes, Central Pacific Bank is a good bank. They have an A+ rating with the Better Business Bureau (BBB), and their mobile banking app has a 4.9 star rating on the App Store and a 4.7 star rating on the Google Play store.

Is Central Pacific Bank Best for Your Needs

With a rich history and a steadfast commitment to Hawaii’s unique needs, Central Pacific Bank is a financial partner that Hawaiians can count on. Their exceptional rates and wide product offerings make them a stand-out choice for people seeking a local Hawaiian financial institution.

Central Pacific Bank is best for people who want a local bank with a deep-rooted history in helping Hawaiians. Their competitive interest rates and large selection of checking and savings accounts are icing on the cake. If you don’t live in Hawaii or are looking for products like a MMA or multi-term CD, Central Pacific Bank may not be the best choice for you.

Our Methodology

The BankBonus editorial team has analyzed dozens of banks to provide our readers with thoroughly informed and accurate reviews.

We evaluate digital financial platforms, online banks, regional banks, and national banks across several metrics.

Our assessment of each bank factors in these considerations:

  • Product lineup: We review the types of accounts, loans, and services offered by each bank, as well as the number of accounts.
  • Fees and pricing: We also consider each institution’s fees, including monthly maintenance fees and other service charges.
  • Account features: To compare banks, we take a close look at the features, limits, and capabilities each one has to offer.
  • Interest: Along with these features, we consider whether or not the bank offers interest-bearing accounts and compare their rates to industry averages.
  • Brand reputation: The bank accounts we recommend have been carefully vetted to ensure they are legitimate, secure, and backed by FDIC insurance.
  • User experience: Additionally, we consider the ease of use and availability of resources on each bank’s website and factor in reviews of the mobile app from the Apple App Store and Google Play Store.
  • Branch and ATM access: To gauge convenience, we also look at each bank’s branch and ATM availability and consider their ATM reimbursement policies.
  • Customer service: In our review process, we also explore banks’ customer service channels, hours of availability, and third-party reviews.

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