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  • Best Banks in Hawaii

    The Bank of Hawaii, First Hawaiian, Central Bank of the Pacific, American Savings... any advice on choosing one of these fine, local institutions to handle my family's Banking needs...?
    Mahalo,
    Ben
    53
    Hawaii National Bank
    1.89%
    1
    Bank of Hawaii
    15.09%
    8
    American Savings Bank
    32.08%
    17
    Central Pacific Bank
    7.55%
    4
    First Hawaiian Bank
    18.87%
    10
    Another bank.
    7.55%
    4
    Credit union.
    16.98%
    9

  • #2
    Re: Best Banks in Hawaii-Honolulu

    Are you moving to Hawai'i or already a part time resident there? How comfortable are you with doing most (or all) of your banking electronically? If so, you might want to consider the newest bank in town, Pacific Rim bank. It only has one branch (in Honolulu) but a network of ATMs and they give back 10% of its profits to nonprofit organizations in the state. They're small, they're local and they're managed by people who have been in the banking business for years.

    Miulang
    Last edited by Miulang; March 19, 2006, 08:04 AM.
    "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

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    • #3
      Re: Best Banks in Hawaii-Honolulu

      Well, I suppose that's one thought...

      Are you new to Hawaii, or a longtime resident? Do you have a current bank, and are there things you like or don't like that are inspiring a switch? Do you have a personal preference for branch banking, or are online and other services sufficient? Are you looking primarily for basic deposit services, or thinking about everything from savings to investing to a loan or two?

      Pacific Rim is the new kid on the block, with one branch and big dreams. First Hawaiian Bank is Hawaii's largest, with a range of services that could make you dizzy. Heck, coming soon is Ohana Pacific Bank, which really wants your business if you're Korean. Depending on what you like in a bank, any of our local institutions can be the best pick. Heck, you might find you can do fine with Bank of America, even without a single branch in town.

      And I'm sure you'll find more than a few folks are fans of the exploding network of credit unions. Once a community-focused niche with limited membership, these days they're basically banks with fewer regulations. You can probably find a dozen credit unions that'll take you, no questions asked.

      Anyway, here are the main banks in Hawaii:

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      • #4
        Re: Best Banks in Hawaii-Honolulu

        Depending upon your needs, you may also want to look into whether you can join any credit unions. Sometimes the credit unions are more "consumer friendly".

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        • #5
          Re: Best Banks in Hawaii-Honolulu

          Nothing against banks, but credit unions are the way to go. They are non profit which generally means higher deposits/lower interest rates for you, the consumer. Sure, some banks have teaser rates, such as PacRim, but check back two years from now and see where they're at.

          Credit unions also have better service and serve the community. Everything they do is for their membership, not shareholders or board of directors.

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          • #6
            Re: Best Banks in Hawaii-Honolulu

            Originally posted by gfunk91
            Nothing against banks, but credit unions are the way to go. They are non profit which generally means higher deposits/lower interest rates for you, the consumer. Sure, some banks have teaser rates, such as PacRim, but check back two years from now and see where they're at.

            Credit unions also have better service and serve the community. Everything they do is for their membership, not shareholders or board of directors.
            I have bank accounts in both a national commercial bank and a credit union. The national bank account is good because I can access no-fee ATMs all over the country; the credit union has most of my savings and my CDs and my car loan. Another national bank owns my mortgage and is holding my pension money.

            Miulang
            "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

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            • #7
              Re: Best Banks in Hawaii-Honolulu

              Many thanks for all great info-guess I was a little vague in my original inquiry-Yes, my family and I are moving to "Oahu" this June (USCG) and were more than a little excited about the new prospects were sure to find there. Any way, I can't use my current bank, Washington Mutual, in Hawaii; so I'm looking for the usual Personal checking and Savings account services. Also, we need a safe deposit box for our little stash of all too boring documents and semi-precious valuables. I like the idea of using a credit union if they offer Safe deposit box services. Pacrim Savings Bank sounds intresting and worth a close look. I'm kinda of leaning towards First Hawiian because of the wide range of services they offer...
              To all, I am much obliged for everyones advice-and I'll make sure not to leave behind that oversize, Seattle umbrella of mine!

              Mahalo!
              Ben sends

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              • #8
                best bank to open a checking account with?

                or which bank do you prefer and why?

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                • #9
                  Re: best bank to open a checking account with?

                  I prefer credit unions. The fees are lower to nonexistent.

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                  • #10
                    Re: best bank to open a checking account with?

                    Originally posted by Glen Miyashiro
                    I prefer credit unions. The fees are lower to nonexistent.
                    I'm in agreement with that; I've been a member of credit unions for thirty years, and have gotten consistently lower-than-any-bank rates on credit cards, auto loans, home loans, etc.

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                    • #11
                      Re: best bank to open a checking account with?

                      Whats a good credit union you'd recommend?

                      They have checking accounts? Wasn't even aware of that.

                      HawaiiThreads rocks!

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                      • #12
                        Re: best bank to open a checking account with?

                        I've found that one of the best places to open up a checking account is with a large financial institution, such as with Smith Barney. Money market rates (currently paying 4.5%), with no term, no minimum balance with full check writing privileges. Plus, on top of that, can pay bills, take out money out of almost any ATM and possibly, get a line of credit with little to no fee!!! Now, that really rocks!!!

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                        • #13
                          Re: Best Banks in Hawaii

                          Here's the Hawaii Credit Union League website. Click on the appropriate island to get a list of c/unions with links to each one's site.

                          By the way, Bankoh is selling its credit card portfolio (formerly with AMEX) to MBNA, which means your credit card won't be good at Bankoh ATMs, their letter says. They're pushing to get customers to get a BankCard for use at all the machines. The buyout takes place in July.
                          http://www.linkmeister.com/wordpress/

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                          • #14
                            Which bank to use?

                            Hey everyone.

                            As stated in some previous post I will be on Oahu around June 3rd and was hoping you guys could help me on the bank choices. I see there is a Bank of Hawaii there with a bunch of branches so that seems like the best choice. Anyone have suggestions on what is the best bank to sink my money in to? Also I could get a Navy Federal account because my brother was in the Marines but only see they have like two branches so I would like a bank I can stick with that has many branches or at least ATM's. Any suggestions would be greatly appreciated. Thanks.


                            Matt

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                            • #15
                              Re: Best Banks in Hawaii

                              I prefer First Hawaiian Bank. FHB's advertising slogan for many years was "the bank that says 'yes'". I've had some of Bank of Hawaii's own customers claim that BOH is the bank that says 'no'. It seems to me that when a new unpopular trend that comes along, BOH is the first to adopt it.

                              The last one that frosted me was when they started charging $3 to cash a check in person drawn on their bank unless you had an account with them. Seems like that strikes at the heart of what a check represents.

                              Seems to me BOH was also the first to discontinue allowing you to pay your utility bill at the bank.

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