Company: BOH
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0000046195-25-000013
Chunk: 7

Company: BANK OF HAWAII CORP
Filing Date: 2025-06-27
Form: 11-K
Chunk 7
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 duration of more than four years as often as the participant chooses; however, it must remain there for 90 days before transferring it into a short-term bond or money market fund.

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#### 4. Risks and Uncertainties
The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market volatility and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the accompanying statements of net assets available for benefits.

The values of the Plan’s individual investments have and will fluctuate in response to changing market conditions. The amount of gains or losses that will be recognized in subsequent periods, if any, cannot be determined at this time.

5. Transactions and Agreements With Parties-in-Interest

Plan investments include shares of mutual funds and a collective trust fund managed by Vanguard, the trustee and recordkeeper of the Plan. Accordingly, transactions involving shares of such mutual funds and the collective trust fund are considered party-in-interest transactions.

The Plan's investments also include shares of common stock of the Company. Transactions in shares of Bank of Hawaii Corporation common stock qualify as party-in-interest transactions under the provisions of ERISA. During the years ended December 31, 2024 and 2023, the Plan made purchases of $1,147,000 and $1,961,000, respectively, and sales of $3,589,000 and $2,731,000, respectively, of Bank of Hawaii Corporation common stock on behalf of its participants. At December 31, 2024 and 2023, the Plan held 387,160 and 406,057 shares of Bank of Hawaii Corporation common stock, respectively, representing 3% and 4%, respectively, of the total net assets of the Plan.

#### 6. Tax Status
The Plan has received a determination letter from the Internal Revenue Service (the “IRS”) dated November 1, 2017, stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (the “Code”) and, therefore, the related trust is exempt from taxation. Subsequent to receiving the determination letter, the plan was amended and restated. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualified status. The plan administrator believes the Plan, as amended and restated