0001047469-04-016517 Sample Contracts

CARLSMITH BALL LLP LETTERHEAD] May 7, 2004
Stock Issuance Opinion • May 10th, 2004 • Bank of Hawaii Corp • State commercial banks

Up to 700,000 shares of Common Stock, $0.01 par value, of Bank of Hawaii Corporation (the "Company") to be offered and sold pursuant to the Company's Registration Statement on Form S-8, as filed on or about May 7, 2004 (such shares of Common Stock, the "Shares" and such Registration Statement, as it may be amended from time to time, the Registration Statement")

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