Exhibit 12

Bank of Hawaii Corporation and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges (Unaudited)

				Six Months Ended June 30,
(dollars in thousands)		2008				2007
Earnings:
Income Before Provision for Income Taxes		$	157,119			$	148,054
Add:	Fixed Charges Including Interest on Deposits	73,963				101,129
	Interest on FIN 48 Liabilities	-				600
Total Earnings Including Fixed Charges and Interest on Deposits and Interest on FIN 48 Liabilities		231,082				249,783
Less:	Interest on Deposits	47,703				67,076
	Interest on FIN 48 Liabilities	-				600
Total Earnings Excluding Interest on Deposits
	and Interest on FIN 48 Liabilities	$	183,379			$	182,107
Fixed Charges:
Fixed Charges Including Interest on Deposits		$	73,963			$	101,129
Add:	Interest on FIN 48 Liabilities	-				600
Total Fixed Charges Including Interest on Deposits and Interest on FIN 48 Liabilities		73,963				101,729
Less:	Interest on Deposits	47,703				67,076
	Interest on FIN 48 Liabilities	-				600
Total Fixed Charges Excluding Interest on Deposits
	and Interest on FIN 48 Liabilities	$	26,260			$	34,053
Ratio of Earnings to Fixed Charges:
Including Interest on Deposits and Interest on FIN 48 Liabilities		3.1			x	2.5		x
Excluding Interest on Deposits and Interest on FIN 48 Liabilities		7.0			x	5.3			x