Best banks in Hawaii range from long-standing regional names to national giants and high-yield online banks — and the right pick depends on whether you value local branches, the highest savings rate, or the biggest sign-up bonus. This guide rounds up the best banks in Hawaii, the top credit unions, the online banks Hawaii residents use most, and the bank bonuses worth grabbing in June 2026.
| Category | Good Options in Hawaii |
|---|---|
| Regional banks | First Hawaiian Bank, Bank of Hawaii, American Savings Bank, Central Pacific Bank, Hawaii National Bank |
| National banks | Chase, Bank of America, Wells Fargo, U.S. Bank |
| Online banks | Ally Bank, SoFi, Capital One 360, Discover |
| Credit unions | Hawaii State Federal Credit Union, HawaiiUSA Federal Credit Union, Pearl Hawaii Federal Credit Union, Hawaii Federal Credit Union, Hickam Federal Credit Union |
In This Guide:
Best Banks in Hawaii
Top regional banks serving Hawaii include:
- First Hawaiian Bank
- Bank of Hawaii
- American Savings Bank
- Central Pacific Bank
- Hawaii National Bank
The largest bank by presence in Hawaii is Bank of Hawaii (largest deposit share in Hawaii at approximately 34%, with $19.2 billion in deposits; First Hawaiian Bank is a close second at $19.1 billion).
Best for checking: Bank of Hawaii (five checking options including interest-bearing accounts, largest branch network in the state, and a $400 new-account bonus with qualifying direct deposits)
Best for savings: Hawaii State Federal Credit Union (competitive local savings rates through Right By You Savings account; for pure APY, online banks like CIT Bank or Newtek Bank offer higher yields available to Hawaii residents)
Regional banks often combine local branch access with competitive accounts, which is why they tend to score well with Hawaii customers. Top high-yield savings accounts available to Hawaii residents pay around 3.75% to 4.20% (online high-yield savings accounts available to Hawaii residents; local banks and credit unions typically offer lower rates) in June 2026.
National Banks Available in Hawaii
If you want a big branch and ATM network, the major national banks all operate in Hawaii:
- Chase
- Bank of America
- Wells Fargo
- U.S. Bank
National banks are convenient but rarely pay the best savings rates — pair one with a high-yield online account for the best of both.
Best Credit Unions in Hawaii
Well-regarded Hawaii credit unions include:
- Hawaii State Federal Credit Union
- HawaiiUSA Federal Credit Union
- Pearl Hawaii Federal Credit Union
- Hawaii Federal Credit Union
- Hickam Federal Credit Union
Credit unions are member-owned and often beat banks on fees and savings rates, though membership may require living, working, or worshiping in a specific area.
Best Online Banks for Hawaii Residents
Online banks have no branches but pay far higher savings rates and charge fewer fees. Popular options for Hawaii residents:
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- Ally Bank
- SoFi
- Capital One 360
- Discover
Bank Sign-Up Bonuses in Hawaii
One bonus worth a look for Hawaii residents right now: Bank of Hawaii $400 checking bonus (Bankohana II/III with $3,500 direct deposit in 60 days) + $200 savings bonus; First Hawaiian Bank $350 checking bonus (Priority Banking, $500 direct deposit in 60 days, extended through June 30, 2026). Bonuses change often, so check our live list for the latest.
A sign-up bonus can be worth $100-$400 for opening an account and meeting a direct-deposit or balance requirement. Use our Bonus Yield Calculator to see the true annual return on any offer, and check that your paycheck qualifies with the Direct Deposit Checker.
How to Choose a Bank in Hawaii
- Fees: Look for no monthly maintenance fee or an easy waiver.
- Savings rate (APY): Online and credit-union accounts usually win here.
- Access: Want branches? Favor a regional or national bank in Hawaii.
- Bonus: A sign-up bonus is free money if you would open the account anyway.
- Insurance: Confirm FDIC (banks) or NCUA (credit unions) coverage.
Official Sources
- Hawaii Division of Financial Institutions (DFI), Department of Commerce and Consumer Affairs: https://cca.hawaii.gov/dfi/
- FDIC BankFind: fdic.gov
- NCUA (credit unions): ncua.gov
Other Hawaii notes: Hawaii has an exceptionally concentrated banking market — four local banks (Bank of Hawaii, First Hawaiian Bank, American Savings Bank, and Central Pacific Bank) collectively hold approximately 93% of all deposits in the state. Credit unions are also very popular, with Hawaii State FCU being one of the largest in the Pacific. The island geography limits national bank branch penetration, making regional institutions dominant. Hawaii National Bank is the only locally owned and managed bank remaining. Territorial Savings Bank is the fifth-largest institution by deposits at $1.7 billion.
Checking, Savings, and CDs Explained
Most Hawaii banks offer the same core accounts:
- Checking — for everyday spending and direct deposit. Look for no monthly fee.
- Savings — for your emergency fund. Online banks pay the highest rates.
- Money market — a savings account with limited check-writing.
- CDs — lock money for a set term in exchange for a higher fixed rate.
A common setup for Hawaii residents is a no-fee checking account at a local bank plus a high-yield savings account at an online bank.
How Bank Sign-Up Bonuses Work in Hawaii
Banks pay cash bonuses — often $100 to $400 — to win new customers. To earn one you typically open a new checking or savings account, then meet a requirement such as receiving a set amount of direct deposit or keeping a minimum balance for a few months. The bonus is usually paid within 90 days. As long as you would open the account anyway, it is essentially free money. We track current offers open to Hawaii residents on our listings page.
Best Banks in Hawaii: Frequently Asked Questions
What is the best bank in Hawaii? There is no single best bank — it depends on whether you value branches, the highest savings rate, or the biggest bonus. Compare a regional bank, a national bank, and an online bank before deciding.
Are credit unions better than banks in Hawaii? Credit unions are member-owned and often charge lower fees and pay better rates, but you must be eligible to join and may have fewer branches.
Which bank has the best sign-up bonus? Bonuses change monthly. National and online banks usually offer the largest ones open to Hawaii residents — check our live list.
Is my money safe? Yes — as long as your bank is FDIC-insured or your credit union is NCUA-insured, deposits are protected up to $250,000 per depositor.
Related Hawaii Guides
- Hawaii Crypto Laws Guide
- Hawaii Crypto Tax Guide
- Best Banks by State
- Browse all current bank & crypto bonuses
This best banks in Hawaii guide was last verified in June 2026.
Informational only — not financial, tax, or legal advice. Crypto and tax rules change frequently; verify current details with the official sources linked above or a licensed professional before acting.