Exhibit 12

Bank of Hawaii Corporation and Subsidiaries

Statement Regarding Computation of Ratios

	Six Months Ended
	June 30,
(dollars in thousands)	2005		2004
Earnings:
1.     Income Before Income Taxes	$	144,819	$	130,923
2.     Plus: Fixed Charges Including Interest on Deposits	42,566		31,366
3.     Earnings Including Fixed Charges and Interest on Deposits	187,385		162,289
4.     Less: Interest on Deposits	25,181		17,760
5.     Earnings Excluding Interest on Deposits	$	162,204	$	144,529
Fixed Charges:
6.     Fixed Charges Including Interest on Deposits	$	42,566	$	31,366
7.     Less: Interest on Deposits	25,181		17,760
8.     Fixed Charges Excluding Interest on Deposits	$	17,385	$	13,606
Ratio of Earnings to Fixed Charges:
Including Interest on Deposits (Line 3 divided by Line 6)	4.4 x		5.2 x
Excluding Interest on Deposits (Line 5 divided by Line 8)	9.3 x		10.6 x