The Hawaii tourism sector continues to perform well. Even with the summer travel season completed, we are still seeing visitor arrivals at 90% or greater compared to pre-pandemic levels from 2019. The majority of those visitors are from the U.S. mainland. International travel to Hawaii is starting to gradually pick up now that Japan has dropped travel restrictions and is fully open. The weak yen does present some headwinds. Despite that, we expect a recovery of Japanese visitors going into 2023 due to significant pent-up demand. This timely recovery will support Hawaii's overall economy, which could experience a moderate slowdown in other sectors in 2023. Visitor spending is strong, reaching $1.7 billion in August, an increase of 13.8%, compared to the same month in 2019. Hotel performance continues to improve with total statewide hotel occupancy at 77% and an average daily rate of $380 in August.

Oct 21, 2022 / receipt, needs a key / Paul Yonemune, CEO | earnings call 2022-10-21 | transcript e8188675-2f42-492c-8e61-2713eed561bc | chars 1970-2880 | segment 2

I know you've been active and traveling there. Can you just help us think about that?

Oct 21, 2022 / receipt, needs a key / Paul, CEO | earnings call 2022-10-21 | transcript e8188675-2f42-492c-8e61-2713eed561bc | chars 22224-22309 | segment 22

We have restarted travel to Japan for business development and will continue to visit regularly.

Jul 27, 2022 / receipt, needs a key / Arnold Martinez, other | earnings call 2022-07-27 | transcript 2240b57c-d59c-4769-b493-538b3f72d9e2 | chars 8327-8423 | segment 8

Our company is also starting to resume business travel to Japan And we believe this is an opportunity for us to differentiate the bank, given our strong strategic relationships.

Apr 20, 2022 / receipt, needs a key / Catherine Ngo, other | earnings call 2022-04-20 | transcript 98b4f0f9-b5e1-4f64-80e8-ba85159a9ee0 | chars 5197-5374 | segment 5

We were pleased to have a strong visitor holiday travel season with the daily average air arrivals over 25,000 in November through December.

Jan 26, 2022 / receipt, needs a key / Catherine Ngo, Executive Vice Chair | earnings call 2022-01-26 | transcript 5a89c0bb-faf5-4e41-a005-2e7ae34d7c82 | chars 4954-5094 | segment 5

With these positive developments, local economists are projecting that visitor numbers will once again continue to rise and Hawaii will have a strong holiday travel season.

Oct 27, 2021 / receipt, needs a key / Paul Yonamine, CEO | earnings call 2021-10-27 | transcript dc8d6577-c787-4d5d-8f81-5c8d645745b9 | chars 4964-5136 | segment 5

We have implemented internal policies to temporarily suspend all business travel, large group meetings, meals and entertainment.

Apr 22, 2020 / receipt, needs a key / David, CFO | earnings call 2020-04-22 | transcript 3eef46d5-5fc9-44b7-86b3-a3dd68d7eb10 | chars 12728-12856 | segment 13

Focused on process improvements and driving positive operating leverage

ir_statement / Sep 15, 2026 / receipt

Expense optimization: consolidation of employees from Operations Center into our main office for an annual savings of ~$1 million.

ir_statement / Sep 15, 2026 / receipt

Process automation: implemented over 90 process improvements including straight-through processing to core system.

ir_statement / Sep 15, 2026 / receipt

Strategic vendor renewals: successfully negotiated large contracts which provide expense savings/incentives while also strengthening system capabilities, service levels, and scalability.

ir_statement / Sep 15, 2026 / receipt

Branch & Sales system enhancements: reduced teller balancing time by over 80%. Sales and customer relationship management (CRM) tools being implemented.

ir_statement / Sep 15, 2026 / receipt

Expense optimization: consolidation of employees from Operations Center into our main office for an annual savings of ~$1 million.

ir_statement / Sep 15, 2026 / receipt

Strategic vendor renewals: successfully negotiated large contracts which provide expense savings/incentives while also strengthening system capabilities, service levels, and scalability.

ir_statement / Sep 15, 2026 / receipt