Estate planning at CPB

Yes. Existing deposit accounts (checking, savings, money market, CDs) can be retitled to your revocable living trust. Visit a Central Pacific Bank branch with your Certification of Trust and trustee identification. The process does not require closing and reopening the account if the same SSN or EIN is used. IRA accounts cannot be retitled to a trust.

Yes. Central Pacific Bank's Trust and Asset Management division provides estate and trust administration services, including serving as executor, personal representative, trustee, co-trustee, or agent. The division administers personal trusts, special needs trusts, and directed trusts, and handles inventorying and safeguarding assets, recordkeeping, court appearances, estate and income tax filings, and asset distribution. Contact a local branch or call (808) 544-0500 to connect with the Trust department.

The Exceptional Plan is a relationship banking program that links qualifying deposit accounts. When you maintain a $10,000 combined balance across linked Exceptional Plan accounts, the $20 monthly service charge on Exceptional Checking is waived, and you receive enhanced interest rates on linked Exceptional Savings and Exceptional Super Savings accounts. The plan also includes benefits such as incoming wire transfer fee waivers, line of credit annual fee waivers, a free safe deposit box (up to $50 value), and a family referral plan allowing up to three family members to open accounts with a reduced $100 opening deposit.

Shaka Checking is Central Pacific Bank's 100% digital checking account that earns interest. It is available to Hawaii residents and also to residents of Washington state. Shaka Checking offers early paycheck access (up to 2 days early with qualifying direct deposit), no ATM fees worldwide, and up to $20 in ATM surcharge rebates per statement period when monthly qualifications are met (15 or more debit card purchases totaling $75 or more and a qualifying direct deposit of $25 or more). $25 minimum to open online. No monthly fee with eStatements.

Yes. Central Pacific Bank offers Traditional IRA and Roth IRA accounts, available as CD-based IRAs. Traditional IRAs provide tax-deferred growth where contributions may be tax-deductible. Roth IRAs are funded with after-tax dollars and qualified withdrawals are tax-free, with no required minimum distributions during the account holder's lifetime. Up to $10,000 can be withdrawn tax-free and penalty-free from a Roth IRA for a first home purchase if the account has been open for at least 5 years. IRA accounts cannot be retitled to a trust but can name a trust as beneficiary. FDIC insured up to $250,000.