Exhibit 12

Bank of Hawaii Corporation and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges (Unaudited)

		Three Months Ended March 31,
(dollars in thousands)		2008			2007
Earnings:
Income Before Provision for Income Taxes		$	80,446		$	74,343
Add:	Fixed Charges Including Interest on Deposits	42,496			50,241
	Interest on FIN 48 Liabilities	—			600
Total Earnings Including Fixed Charges and Interest on Deposits and Interest on FIN 48 Liabilities		122,942			125,184
Less:	Interest on Deposits	27,465			33,375
	Interest on FIN 48 Liabilities	—			600
Total Earnings Excluding Interest on Deposits and Interest on FIN 48 Liabilities		$	95,477		$	91,209
Fixed Charges:
Fixed Charges Including Interest on Deposits		$	42,496		$	50,241
Add:	Interest on FIN 48 Liabilities	—			600
Total Fixed Charges Including Interest on Deposits and Interest on FIN 48 Liabilities		42,496			50,841
Less:	Interest on Deposits	27,465			33,375
	Interest on FIN 48 Liabilities	—			600
Total Fixed Charges Excluding Interest on Deposits and Interest on FIN 48 Liabilities		$	15,031		$	16,866
Ratio of Earnings to Fixed Charges:
Including Interest on Deposits and Interest on FIN 48 Liabilities		2.9		x	2.5		x
Excluding Interest on Deposits and Interest on FIN 48 Liabilities		6.4		x	5.4		x