Company: BOH
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0000046195-25-000013
Chunk: 4

Company: BANK OF HAWAII CORP
Filing Date: 2025-06-27
Form: 11-K
Chunk 4
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 or single life annuity or may elect to receive distribution in the form of a single lump sum payment. In case of death, beneficiaries may elect to receive distributions as a lump sum or as an annuity contract. Participants may also elect to defer distributions.

#### Administrative Expenses
Fees paid to the Plan’s trustee and some administrative expenses incurred in connection with the operation of the Plan are paid by the Company. Plan recordkeeping fees, managed account fees, loan processing fees, and qualified domestic relations order (“QDRO”) fees are paid by the participant. Consulting fees and other expenses relating to purchases, sales, or transfers of the Plan’s investments are paid by the Company.

#### Plan Termination
In the event that the Board of Directors of the Bank terminates the Plan, each member’s interest in the Plan will remain fully vested and non-forfeitable. The Board of Directors may require all participants and beneficiaries to withdraw such amounts in cash, in kind, in any other form or any combination thereof, as it may determine in its sole discretion.

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#### 2. Summary of Significant Accounting Policies

#### Basis of Accounting
The accounting records of the Plan are maintained on the accrual basis.

#### Payment of Benefits
Benefits are recorded upon distribution.

#### Notes Receivable from Participants
Notes receivable from participants represent participant loans that are recorded at their unpaid principal balance. Interest income on notes receivable from participants is recorded when it is earned. Related fees are recorded as administrative expenses and are expensed as incurred. No allowance for credit losses was recorded as of December 31, 2024 or 2023. If a participant ceases to make loan repayments and the Plan Administrator deems the participant loan to be a distribution, the participant loan balance is reduced and a benefit payment is recorded.

#### Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates.

#### Investments
Investments are stated at fair value. The Plan administrator is responsible for determining the Plan’s investment valuation policies and analyzing information provided by the investment custodians and issuers to determine the fair value of the Plan’s investments.

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded as earned. Dividends are recorded on the ex-dividend date. Net appreciation includes the Plan’s gains and losses on investments bought and sold as well as held during