Exhibit 12

Bank of Hawaii Corporation and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges (Unaudited)

		Nine Months Ended   September 30,
(dollars in thousands)		2008			2007
Earnings:
Income Before Provision for Income Taxes		$	210,532		$	222,332
Add:	Fixed Charges Including Interest on Deposits	102,992			156,129
	Interest on FIN 48 Liabilities	(5,700		)	(200		)
Total Earnings Including Fixed Charges and Interest on Deposits and Interest on FIN 48 Liabilities		307,824			378,261
Less:	Interest on Deposits	65,439			104,689
	Interest on FIN 48 Liabilities	(5,700		)	(200		)
Total Earnings Excluding Interest on Deposits and Interest on FIN 48 Liabilities		$	248,085		$	273,772
Fixed Charges:
Fixed Charges Including Interest on Deposits		$	102,992		$	156,129
Add:	Interest on FIN 48 Liabilities	(5,700		)	(200		)
Total Fixed Charges Including Interest on Deposits and Interest on FIN 48 Liabilities		97,292			155,929
Less:	Interest on Deposits	65,439			104,689
	Interest on FIN 48 Liabilities	(5,700		)	(200		)
Total Fixed Charges Excluding Interest on Deposits and Interest on FIN 48 Liabilities		$	37,553		$	51,440
Ratio of Earnings to Fixed Charges:
Including Interest on Deposits and Interest on FIN 48 Liabilities		3.2		x	2.4		x
Excluding Interest on Deposits and Interest on FIN 48 Liabilities		6.6		x	5.3		x