Central Pacific Bank Mortgage Rates, Fees & Info

Honolulu, HI

LEI: 5493005R24FV5DFFXW42

Tax ID: 99-0080213

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Central Pacific Bank is a small bank specializing in Refi and Home Purchase loans. Central Pacific Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Urban Honolulu, Kahului, Hilo, Kapaa, and San Antonio among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Central Pacific Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Central Pacific Bank is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 4/28/24
    30 Year Conventional Purchase 6.18% 4/28/24
    30 Year Conventional Refi 6.29% 4/28/24
    30 Year Cash-out Refi 6.42% 4/28/24
    30 Year VA Purchase 5.67% 4/28/24
    30 Year USDA Purchase 6.33% 4/28/24
    15 Year Conventional Purchase 5.91% 4/28/24
    15 Year Conventional Refi 5.99% 4/28/24
    15 Year Cash-out Refi 5.99% 4/28/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Central Pacific Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Central Pacific Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    2,929

    Origination Dollar Volume (All Markets)

    $1,291,645,000

    Employee count

    787

    Awards

    Central Pacific Bank 30 Year Conventional Loans bronze Central Pacific Bank VA Loans gold
    Show all (2) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    URBAN HONOLULU, HI (FHA|USDA|VA) 2,428 $1,090,560,000 $449,160 $9,158 2.56%
    KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 204 $91,140,000 $446,765 $10,196 2.73%
    Hilo, HI (FHA|USDA|VA) 205 $68,335,000 $333,341 $5,492 2.63%
    Kapaa, HI (FHA|USDA|VA) 91 $35,135,000 $386,099 $7,162 2.42%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $6,475,000 $6,475,000 $0 3.25%
    Central Pacific Bank's top markets include Urban Honolulu, Kahului, Hilo, Kapaa, and San Antonio among others.

    Their top states include:
  • Hawaii (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Central Pacific Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HONOLULU
    Similarity Rank: 53
    ALOHA PACIFIC
    Similarity Rank: 140
    University of Hawaii Federal Credit Union
    Similarity Rank: 204
    HAWAIIAN FINANCIAL
    Similarity Rank: 212
    American Mortgage and Insurance Inc.
    Similarity Rank: 520
    Territorial Savings Bank
    Similarity Rank: 532
    HAWAIIUSA FEDERAL CREDIT UNION
    Similarity Rank: 664
    HAWAII STATE FEDERAL CREDIT UNION
    Similarity Rank: 676
    COMPASS HOME LOANS, LLC
    Similarity Rank: 704
    PACIFIC HOME LOANS, INC.
    Similarity Rank: 783

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,574 $855,450,000 $543,488 $8,859 3.01%
    HELOC 1,325 $419,755,000 $316,796 n/a 2.06%
    VA 28 $16,010,000 $571,786 $11,943 2.41%
    USDA 2 $430,000 $215,000 $6,073 2.94%

    For 2021, Central Pacific Bank's most frequently originated type of loan was Conventional, with 1,574 originations. Their 2nd most popular type was HELOC, with 1,325 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,373 $591,425,000 $430,754 $8,265 2.32%
    Home Purchase 880 $493,810,000 $561,148 $9,330 3.00%
    Cash Out Refi 259 $119,235,000 $460,367 $8,974 3.06%
    Home Improvement 219 $40,735,000 $186,005 $9,786 2.22%
    Other 198 $46,440,000 $234,545 $6,801 2.26%

    For 2021, Central Pacific Bank's most frequently cited loan purpose was Refi, with 1,373 originations. The 2nd most popular reason was Home Purchase, with 880 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,737 $1,214,165,000 $443,612 $9,400 2.55%
    15 Year 109 $38,275,000 $351,147 $5,950 2.62%
    20 Year 60 $16,080,000 $268,000 $4,035 3.36%
    10 Year 15 $13,275,000 $885,000 $4,704 2.75%
    5 Year 5 $7,875,000 $1,575,000 $0 3.60%
    Other 2 $1,470,000 $735,000 $4,405 2.81%
    1 Year 1 $505,000 $505,000 $0 4.25%

    For 2021, Central Pacific Bank's most frequently cited loan duration was 30 Year, with 2,737 originations. The 2nd most popular length was 15 Year, with 109 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 593 $385,955,000 $650,852
    $<1k 357 $200,815,000 $562,507
    $3k-4k 129 $60,955,000 $472,519
    $2k-3k 126 $49,760,000 $394,921
    $4k-5k 113 $53,905,000 $477,035
    $1k-2k 101 $33,725,000 $333,911

    Central Pacific Bank's average total fees were $9,400, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 593 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,145 $598,445,000 $522,659
    <2.5% 1,116 $366,830,000 $328,701
    3-4% 655 $323,805,000 $494,359
    4-5% 13 $2,565,000 $197,308

    During 2021, Central Pacific Bank's average interest rate for loans was 2.55%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,145 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 996 $283,680,000 $284,819 $6,567 2.52%
    $400k-600k 666 $316,510,000 $475,240 $9,390 2.61%
    $600k-1MM 485 $365,185,000 $752,959 $10,780 2.73%
    $100k-200k 441 $64,035,000 $145,204 $3,962 2.42%
    $1MM+ 180 $251,800,000 $1,398,889 $15,066 2.85%
    $100,000 or less 161 $10,435,000 $64,814 $1,789 2.44%

    2021 saw Central Pacific Bank place emphasis on $200k-400k loans with 996 originations, totaling $283,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 752 $375,280,000 $499,043 $9,942 2.50%
    $100k-150k 722 $274,940,000 $380,803 $9,048 2.51%
    $250k+ 471 $339,765,000 $721,369 $11,377 2.64%
    $75k-100k 431 $141,005,000 $327,158 $8,167 2.64%
    $50k-75k 349 $94,555,000 $270,931 $7,017 2.66%
    $50k or less 130 $29,310,000 $225,462 $5,788 2.77%

    Central Pacific Bank lent most frequently to those with incomes in the $150k-250k range, with 752 originations. The second most popular income band? $100k-150k, with 722 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 507 $227,905,000 $449,517 $9,044 2.67%
    20-30% 495 $214,245,000 $432,818 $8,315 2.61%
    49% 300 $106,690,000 $355,633 $8,395 2.19%
    <20% 132 $61,680,000 $467,273 $8,268 2.50%
    41% 125 $62,785,000 $502,280 $8,724 2.72%
    42% 123 $54,705,000 $444,756 $8,999 2.69%
    44% 117 $49,975,000 $427,137 $9,300 2.56%
    39% 116 $56,390,000 $486,121 $8,181 2.78%
    47% 114 $46,130,000 $404,649 $8,643 2.47%
    38% 113 $50,905,000 $450,487 $8,993 2.68%
    48% 112 $48,260,000 $430,893 $9,203 2.46%
    40% 112 $53,540,000 $478,036 $8,531 2.73%
    43% 110 $48,560,000 $441,455 $9,856 2.56%
    45% 109 $41,595,000 $381,606 $10,895 2.54%
    36% 106 $44,730,000 $421,981 $8,884 2.64%
    46% 100 $43,120,000 $431,200 $9,175 2.49%
    37% 99 $51,945,000 $524,697 $10,012 2.71%
    50-60% 17 $6,925,000 $407,353 $14,869 2.30%
    >60% 13 $9,815,000 $755,000 $10,272 2.47%

    Central Pacific Bank lent most frequently to those with DTI ratios of 30-36%, with 507 originations. The next most common DTI ratio? 20-30%, with 495 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 1,904 $806,580,000 $423,624 $9,018 2.57%
    White 546 $278,990,000 $510,971 $8,930 2.61%
    Not provided 237 $106,965,000 $451,329 $8,297 2.70%
    Native Hawaiian or Islander 145 $57,665,000 $397,690 $8,885 2.50%
    Not applicable 5 $9,585,000 $1,917,000 $0 3.18%
    Japanese 26 $6,940,000 $266,923 $0 2.07%
    Black 17 $6,365,000 $374,412 $5,544 2.68%
    American Indian 14 $5,280,000 $377,143 $10,992 2.54%
    Filipino 14 $4,660,000 $332,857 $16,379 2.07%
    Chinese 9 $3,895,000 $432,778 $3,136 2.39%
    Native Hawaiian 6 $2,530,000 $421,667 $3,515 1.96%
    Other Asian 1 $705,000 $705,000 $0 1.75%
    Korean 2 $650,000 $325,000 $0 1.74%
    Other Pacific Islander 1 $325,000 $325,000 $0 1.25%
    Samoan 1 $255,000 $255,000 $0 2.25%
    Vietnamese 1 $255,000 $255,000 $0 2.75%

    Approval Rates

    Total approvals of all applications
    84.31%

    Central Pacific Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.48%

    Central Pacific Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,929 $1,291,645,000 $440,985

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,929 $1,291,645,000 $440,985

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 562 $167,960,000 $298,861 $7,236 2.35%
    40-60% 628 $285,230,000 $454,188 $8,890 2.58%
    60-80% 974 $605,350,000 $621,509 $10,142 2.73%
    80-100% 257 $154,775,000 $602,237 $7,838 2.91%
    Over 100% 13 $7,585,000 $583,462 $17,218 2.38%
    Under 20% 493 $69,765,000 $141,511 $2,863 2.37%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Central Mortgage Funding, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Central Pacific Bank 1030 Makolu Street Pearl City, HI 96782 Full Service B&M $140,147
    Central Pacific Bank 1338 South Beretania Street Honolulu, HI 96814 Full Service B&M $74,984
    Central Pacific Bank 1535 Dillingham Boulevard Honolulu, HI 96817 Full Service B&M $122,130
    Central Pacific Bank 1538 Kapiolani Blvd Suite# 3 Honolulu, HI 96814 Full Service B&M $283,832
    Central Pacific Bank 2002 South King Street Honolulu, HI 96826 Full Service B&M $222,050
    Central Pacific Bank 2024 North King Street Honolulu, HI 96819 Full Service B&M $156,268
    Central Pacific Bank 2061 Wells Street Wailuku, HI 96793 Full Service B&M $179,012
    Central Pacific Bank 207 Piikea Avenue, Suite 6-63 Kihei, HI 96753 Full Service B&M $101,287
    Central Pacific Bank 220 South King Street Honolulu, HI 96813 Full Service B&M $1,597,115
    Central Pacific Bank 2851 East Manoa Road, Suite 1-100 Honolulu, HI 96822 Full Service B&M $49,699
    Central Pacific Bank 333 Seaside Avenue. Suite 160 Honolulu, HI 96815 Full Service B&M $848,889
    Central Pacific Bank 3465 Waialae Avenue Honolulu, HI 96816 Full Service B&M $248,461
    Central Pacific Bank 355 Keawe Street, Suite 401 Lahaina, HI 96761 Full Service B&M $82,249
    Central Pacific Bank 4-1105 Kuhio Highway, Suite 103 Kapaa, HI 96746 Full Service B&M $18,382
    Central Pacific Bank 4211 Waialae Avenue Honolulu, HI 96816 Full Service B&M $223,584
    Central Pacific Bank 4364 Rice Street Lihue, HI 96766 Full Service B&M $102,206
    Central Pacific Bank 46-077 Kamehameha Highway Kaneohe, HI 96744 Full Service B&M $180,958
    Central Pacific Bank 505 Ward Avenue Honolulu, HI 96814 Full Service B&M $86,402
    Central Pacific Bank 525 Kilauea Avenue Hilo, HI 96720 Full Service B&M $216,002
    Central Pacific Bank 6 Hoolai Street Kailua, HI 96734 Full Service B&M $116,151
    Central Pacific Bank 6600 Kalanianaole Highway Honolulu, HI 96825 Full Service B&M $79,955
    Central Pacific Bank 680 Kamokila Boulevard Kapolei, HI 96707 Full Service B&M $88,797
    Central Pacific Bank 75-1010 Henry Street Kailua-Kona, HI 96740 Full Service B&M $107,643
    Central Pacific Bank 85 West Kaahumanu Avenue Kahului, HI 96732 Full Service B&M $251,533
    Central Pacific Bank 91-1107 Keaunui Drive, Suite 300 Ewa Beach, HI 96706 Full Service B&M $32,621
    Central Pacific Bank 935 California Avenue Wahiawa, HI 96786 Full Service B&M $47,481
    Central Pacific Bank 94-210 Pupukahi Street Waipahu, HI 96797 Full Service B&M $101,479
    Central Pacific Bank 94-615 Kupuohi Street, Unit A1 Waipahu, HI 96797 Full Service Retail $44,793
    Central Pacific Bank 95-720 Lanikuhana Avenue Mililani, HI 96789 Full Service B&M $87,358
    Central Pacific Bank 960 Mapunapuna Street Honolulu, HI 96819 Full Service B&M $395,129
    Central Pacific Bank 98-150 Kaonohi Street Aiea, HI 96701 Full Service B&M $123,424

    For 2021, Central Pacific Bank had 31 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $218,762
    Net interest income $215,141
    Total noninterest income $43,892
    Gross Fiduciary activities income $5,075
    Service charges on deposit accounts $6,659
    Trading account gains and fees $0
    Additional Noninterest Income $32,158
    Pre-tax net operating income $113,057
    Securities gains (or losses, -) $150
    Income before extraordinary items $85,481
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $85,481
    Minority interest net income $0
    Net income $85,481
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $85,362

    Central Pacific Bank's gross interest income from loans was $218,762,000.
    Central Pacific Bank's net interest income from loans was $215,141,000.
    Central Pacific Bank's fee based income from loans was $6,659,000.
    Central Pacific Bank's net income from loans was $85,481,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,621
    Provision for credit losses $-14,591
    Total noninterest expense $160,567
    Salaries and employee benefits $90,213
    Premises and equipment expense $20,654
    Additional noninterest expense $49,700
    Applicable income taxes $27,726
    Net charge-offs $849
    Cash dividends $54,016

    Central Pacific Bank's interest expense for loans was $3,621,000.
    Central Pacific Bank's payroll and benefits expense were $90,213,000.
    Central Pacific Bank's property, plant and equipment expenses $20,654,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $6,659,248
    Deposits held in domestic offices $6,659,248
    Deposits by Individuals, partnerships, and corporations $6,308,021
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $348,383
    Deposits by Commercial banks and other depository institutions in U.S. $2,841
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $3,721,389
    Demand deposits $2,306,112
    Nontransaction accounts $2,937,859
    Money market deposit accounts (MMDAs) $313,376
    Other savings deposits (excluding MMDAs) $1,917,751
    Total time deposits $706,732
    Total time and savings deposits $4,353,136
    Noninterest-bearing deposits $2,306,112
    Interest-bearing deposits $4,353,136
    Retail deposits $6,177,973
    IRAs and Keogh plan accounts $38,956
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $7,407,268
    Cash & Balances due from depository institutions $328,907
    Interest-bearing balances $247,401
    Total securities $1,631,699
    Federal funds sold & reverse repurchase $0
    Net loans and leases $5,037,083
    Loan and leases loss allowance $68,097
    Trading account assets $0
    Bank premises and fixed assets $119,795
    Other real estate owned $0
    Goodwill and other intangibles $9,738
    All other assets $280,046

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $7,407,268
    Total Liabilities $6,768,170
    Total deposits $6,659,248
    Interest-bearing deposits $4,353,136
    Deposits held in domestic offices $6,659,248
    % insured (estimated) $64
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $108,922

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $5,037,083
    Loan and leases loss allowance $68,097
    Total loans and leases (domestic) $5,105,180
    All real estate loans $3,859,831
    Real estate loans in domestic offices $3,859,831
    Construction and development loans $122,867
    Residential 1-4 family construction $28,128
    Other construction, all land development and other land $94,739
    Loans secured by nonfarm nonresidential properties $917,876
    Nonfarm nonresidential secured by owner-occupied properties $290,178
    Commercial real estate & other non-farm, non-residential $627,698
    Multifamily residential real estate $302,265
    1-4 family residential loans $2,516,760
    Farmland loans $63
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $596,220
    To non-U.S. addressees $0
    Loans to individuals $623,901
    Credit card loans $0
    Related Plans $78,673
    Consumer Auto Loans $298,415
    Other loans to individuals $246,813
    All other loans & leases $25,228
    Loans to foreign governments and official institutions $0
    Other loans $25,228
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $59,040
    Loans secured by real estate to non-U.S. addressees $31,069
    Restructured Loans & leases $4,903
    Non 1-4 family restructured loans & leases $1,135
    Total loans and leases (foreign) $0

    Central Pacific Bank had $5,037,083,000 of loans outstanding in 2021. $3,859,831,000 of loans were in real estate loans. $122,867,000 of loans were in development loans. $302,265,000 of loans were in multifamily mortgage loans. $2,516,760,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $298,415,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 159 $63,325 $398,270
    Nonfarm, nonresidential loans - <$100k 2 $106 $53,000
    Nonfarm, nonresidential loans - $100-250k 20 $3,024 $151,200
    Nonfarm, nonresidential loans - $250k-1MM 137 $60,195 $439,380
    Commercial & Industrial, US addressed loans - <$1MM 4,073 $233,814 $57,406
    Commercial & Industrial, US addressed loans - <$100k 3,422 $88,837 $25,961
    Commercial & Industrial, US addressed loans - $100-250k 377 $45,792 $121,464
    Commercial & Industrial, US addressed loans - $250k-1MM 274 $99,185 $361,989
    Farmland loans - <$1MM 1 $63 $63,000
    Farmland loans - $250k-1MM 1 $63 $63,000