Central Pacific Bank Review: Banking for Personal and Business
Written by
Karen Doyle
Edited by
Melanie Grafil
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Open a 6-month CD and earn a high APY. You'll need $20,000 minimum deposit along with an Exceptional Checking account.
Central Pacific Bank is best for customers who want to do all their banking in one place. Central Pacific Bank offers a menu of perks for families with multiple accounts at the bank. To qualify for the Exceptional Plan, open an Exceptional Checking account, link qualifying accounts and maintain and combined balance of at least $10,000. Qualifying accounts include savings accounts, IRAs, CDs, loans, lines of credit and more.
Central Pacific Bank is a full-service bank with 28 branches on Oahu, Hawaii, Maui, and Kauai. The bank offers personal and business deposit accounts, loans, and investment services, in branches, online and via a mobile app. GOBankingRates named it one of the Best Banks in Hawaii for 2025.
Central Pacific Bank Checking Accounts
Central Pacific Bank offers three different checking accounts, so you can choose the best one for you based on the way you use a checking account. An interest-bearing checking account is rare, so this is a good choice if you like to keep some money in your checking account.
Shaka Checking
This account is 100% online and pays interest as high as APY.
- Interest-bearing
- Up to $20 in ATM fees reimbursed per month
- $25 minimum opening deposit
- To get APY, you must have 15 or more debit card transactions totaling at least $75 per month, plus a qualified direct deposit from an employer, social security or another source of income. Balances over 20,001 earn APY.
Exceptional Checking
This account is the first step in the Exceptional Plan, which provides extra perks for having multiple accounts with Central Pacific Bank. When you maintain a $10,000 combined balance, you get better interest rates and loan terms. The Exceptional Checking account is a good starting point if you want to have all your accounts work together. You can link it with savings accounts, retirement accounts, loans and more, and get the best rates on everything.
- Interest-bearing checking
- Link to other accounts for extra benefits
- $500 minimum balance to open
- Maximum interest rate is APY
Value Checking
A basic checking account that provides a range of free services with no minimum balance. If you don’t need a lot of bells and whistles in your checking account, this is the one for you. If you’re just starting out, or you don’t keep a lot of cash in your checking account beyond what you need for bills, this is a good all-purpose checking account.
- No minimum balance required
- Free debit card, online and mobile banking, bill pay and more
- No ATM fees at CPB ATMs
- Does not pay interest
Best For
Banking in Hawaii
Mobile App
Low Monthly Fees
Low Minimum Deposit
Loan Options
Earn Up to APY with the Shaka Checking Account
Central Pacific Bank offers three different checking accounts for your various needs, from earning interest to enjoying free services. Linking to other CPB accounts also offers additional perks and benefits.
Fees
$0 to $25, waivable
APY
Up to with Shaka Checking
Min Opening
$25 to $500
Pros
- Shaka Checking offers up to APY
- Value Checking has no minimum balance and includes free debit cards
- Exceptional Checking provides some competitive rates
Cons
- Receiving the top APY has various requirements to meet
- High $500 minimum opening deposit on Exceptional Checking
- No interest offered on Value Checking
Quick Take
Central Pacific Bank provides a variety of checking accounts, making it easy to find one that matches your financial needs. You can earn high interest, have fees waived or link your accounts for additional benefits.
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Central Pacific Bank Savings Accounts
Central Pacific Bank offers five different savings accounts, so you can select the one that is right for you. The accounts vary by minimum opening deposit, minimum balance to avoid the service fee and interest rate.
- Starter Savings has a $10 minimum opening deposit and APY
- Personal Savings or Personal Super Savings has a $100 minimum opening balance and interest rates ranging from to APY depending on your balance
- Exceptional Savings or Exceptional Super Savings requires up to $500 to open and pays up to APY.
Best For
Banking in Hawaii
Mobile App
Low Monthly Fees
Low Minimum Deposit
Loan Options
Earn Daily Compounded Interest
Central Pacific Bank has five savings account options with flexible opening deposit and balance requirements, so you can find one that suits your personal finances.
Fees
$0 to $6, waivable
APY
Up to
Min Opening
$10 to $100
Pros
- Five options to choose from
- Higher interest rates for higher balances
Cons
- No high yield option
Quick Take
Central Pacific Bank offers a range of five savings accounts. the minimum deposits vary, and the monthly service fees are low, though there are options to waive by maintaining minimum balance requirements. Unfortunately, you might have to look elsewhere for a high-yield option.
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Central Pacific Bank CD Accounts
The Central Pacific Bank Smart Saver CD not only allows additional deposits over the term of the CD, but it actually requires them. You must automatically deposit each month from an eligible Central Pacific Bank account to get these rates:
- 12 months: APY
- 18 months APY
- 36 months APY
You must deposit a minimum of $1,000 when you open your Smart Saver CD account, and your balance must be at least $5,000 by the end of the term.
Central Pacific Bank has a special offer six-month CD with APY. There is a $20,000 minimum deposit, of which at least $10,000 must be new money from another financial institution. You must have (or open) an Exceptional Checking Account and you must go to a branch to open the CD.
Best For
Banking in Hawaii
Mobile App
Low Monthly Fees
Low Minimum Deposit
Loan Options
Exceptional CD Special With
Central Pacific Bank offers a range of regular and jumbo CDs for terms ranging from seven days to eight years, with interest rates ranging from to APY. Exceptional Plan customers get a slightly higher rate.
Fees
No monthly service fee
APY
Up to
Min Opening
$0
Pros
- A wide variety of options
- Smart Saver CD allows regular deposits
Cons
- Interest rates are compatively low.
Quick Take
Your CD balance counts toward your total balance requirement for the Exceptional Plan. Otherwise, you can get better rates elsewhere.
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Banking Experience
Exceptional Plan
Central Pacific Bank offers a menu of perks for families with multiple accounts at the bank. Exceptional Plan customers can link qualifying accounts and maintain a combined balance of at least $10,000 to avoid a $20 monthly service charge. Qualifying accounts include savings accounts, IRAs, CDs, loans, lines of credit and more.
Customers on the Exceptional Plan receive:
- Higher interest rates on Exceptions Preferred CDs and IRA, Exceptional Savings and Super Savings accounts
- No ATM transaction feed
- Free official checks
- Free notary service
- A free safe deposit box (up to $50 value)
- Free transfers to Greenlight accounts for kids and teens
- Premium Platinum Debit Mastercard
- Online banking
- Online bill pay
- Mobile banking, including mobile deposit
- Telephone banking
On the Family Plan, you can have up to three family members with their own Exceptional checking account with no minimum balance requirement and no monthly service fee. Open with just $100.
Mobile Banking
Central Pacific Bank offers a robust mobile banking app that is rated 4.8 stars on Google Play and 4.9 stars on the App Store. Customer reviews cite the ability to link outside accounts, providing a holistic view of your finances. You can also transfer funds externally and categorize your spending to help with budgeting.
How Does Central Pacific Bank Compare?
All banks have something to offer. Here are Central Pacific Bank’s strengths.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $25, waivable
$3 to $7 monthly
No monthly fees
APY
APY
APY
Up to with Shaka Checking
Up to
Min Opening
Min Opening
Min Opening
$25 to $500
$30
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $6, waivable
Transfers or withdrawals beyond six per month
Early withdrawal penalty may apply
APY
APY
APY
Up to
Up to
Min Opening
Min Opening
Min Opening
$10 to $100
$5 to $100
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
Early withdrawal penalty may apply
No monthly service fee
APY
APY
APY
Up to
Up to
on 5-month promo CD
Min Opening
Min Opening
Min Opening
$0
$1,000 to $5,000
$1,000
Central Pacific Bank vs. Bank of Hawaii
Bank of Hawaii offers a similar line of products, but they have several offers currently to entice customers, including a $400 bonus to open a checking account and a $200 bonus to open a savings account. There are requirements such as minimum balances and direct deposit. Bank of Hawaii also offers more competitive rates on CDs.
Central Pacific Bank vs. SoFi®
SoFi is an online-only bank, that charges no monthly fees on any accounts, and pays up to APY on new savings accounts with eligible direct deposit. You’d need to be comfortable doing all your banking online, as there are no branches, but you do have fee-free access to over 55,000 ATMs in the AllPoint network.
Central Pacific Bank vs. Bank of America
Bank of America is a classic “big bank” with thousands of branches and nearly every conceivable banking product available. Like Central Pacific Bank, Bank of America pays a low rate of interest on checking balances if you have multiple accounts, but is also offering a $300 bonus to open a new checking account.
Final Take
Central Pacific Bank is a good choice if you want a local, full-service bank where you can have all your accounts in one place. By maintaining all your accounts at CPB, you can qualify for better rates.
Central Pacific Bank FAQ
- Does Central Pacific Bank have digital banking?
- Yes, Central Pacific Bank offers digital banking, including mobile banking and online banking. The Central Pacific Bank mobile app is highly rated, with scores of 4.9 stars on the App Store and 4.8 stars on Google Play.
- What is Central Pacific Bank’s mobile deposit limit?
- Central Pacific Bank customers can deposit up to $10,000 per day and up to $30,000 per month in each account. There’s no limit on the number of individual checks that can be deposited, as long as deposits don’t exceed these dollar amounts.
- What is the daily withdrawal limit for Central Pacific Bank?
- Customers of Central Pacific Bank can withdraw up to the lesser of $1,000 or their account balance per day at an ATM. Customers may make unlimited withdrawals at a branch, subject to the amount of cash the branch may have on hand.
- What is the maximum withdrawal from CPB ATM?
- The maximum withdrawal amount from a CPB ATM is $1,000 per day.
- Does Central Pacific Bank use Zelle?
- Yes, Central Pacific Bank customers can use Zelle to send and request money instantly, using the recipient’s mobile phone number or email address.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 9, 2024.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 9, 2024. To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
SoFi has partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however,third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
