Bank of Hawaii 401(k) Review & Grade
Bank of Hawaii Retirement Savings Plan
Honolulu, HIFinance & Insurance1,878 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,851Employer $ per active participant
$9,039Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$819.9MNet plan assets, end of year
$270,065Average balance per account
Score breakdown
- Employer generosity27.0 / 5054th percentile for employer $ per participant
- Low cost19.9 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving10.4 / 1569th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 80th |
| Employee saving | 69th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Bank of Hawaii put in about $3,851 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $7,232,671 |
| Participant (employee) contributions | $16,976,066 |
| Other contributions (incl. rollovers in) | $571,208 |
| Administrative expenses paid from the plan | $616,923 |
| Other admin expenses | $616,923 |
| Benefits paid out | $60,865,148 |
| Net assets, start / end of year | $758.9M / $819.9M |
| Active participants, start / end of year | 1,895 / 1,861 |
| Participants with account balances | 3,036 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young, LLP |
| Employer stock held by plan | $27,627,383 |
Largest service providers (Schedule C)
| Vanguard Advisers Inc | $352,502 reported compensation |
| The Vanguard Group, Inc. | $167,101 reported compensation |
| Mercer Investment LLC | $103,955 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250722144447NAL0003305264001, received 2025-07-22, EIN 99-0033900, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.