Update 7/12/26: Bonus is now $100-$300 (previously max was $400 but required level 2 account). Hat tip to the reader Dubbs
Offer at a glance
- Maximum bonus amount: 400 dollars
- Availability: ash
- Direct deposit required: Yes, $2,000+ – $3,500
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card financing: Unknown
- Monthly fees: $3.95 – $20
- Early account closure fee: 180 days, $70
- Family boundary: $70, 180 days
- Expiration date: None listed
Offers
- Bank of Hawaii offers a bonus of up to $400 when you open a new checking account. The bonuses are as follows:
Earn $400 with a Bankohana III or Bankohana II account with an initial deposit of at least $500 and $3,500 in Qualifying Direct Deposits within 60 days of account opening- Earn $300 with a Bankohana I account with an initial deposit of at least $500 and $3,500 in Qualifying Direct Deposits within 60 days of account opening
- Earn $100 with a Convenience Checking Account with an initial deposit of at least $500 and $2,000 in qualifying Direct Deposits within 60 days of account opening
Fine Press
- All bank account bonuses are treated as income/interest and as such you must pay tax on them
Avoidance of fees
Monthly fees
- Convenience Check ($100 bonus). $3.25 through 9/30/24 $5.00 after 10/1/24
- Bankohana Level I ($300 bonus). $15 (or waived with combined balance of $6,000)
Bankohana Level II ($400 bonus). $20 by 9/30/24 $25 by 10/1/24 and after (or waived with a combined balance of $20,000)
Early account termination fee
Bankohana accounts closed within 180 days of account opening will be assessed an early closure fee of $70
Our verdict
The $400 bonus is not worth considering as you need to have $20,000 in funds to keep it free. The $300 bonus is worth doing especially since it is rare to see a Hawaiian bonus.
Hats off to him Gerry
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