Home Equity Line of Credit

  • No points or closing costs**
  • No annual fee
  • Tax-deductible interest***

We'll pay your early closing fees up to $500 to help you switch.

Certain restrictions apply, see below for details.
To open your Home Equity Line of Credit, visit your nearest branch.


*Discounted Initial Fixed Rate of 1.99% Annual Percentage Rate (APR) available for the first two years for applications received between 12/23/13 and 3/31/14 and funds by 5/9/14. After the initial fixed rate period rates are variable and are currently 4.50% as of 12/23/13. APR subject to change monthly based on the Prime Rate published in the Wall Street Journal, plus a margin; margin is based on your credit history and bank relationship. Investor discounted rate and margin is 0.50% higher. Discounted rate and margin is 0.50% higher for home equity lines of credit with maximum total loan-to-value of 90% which simultaneously closes with a qualified Central Pacific HomeLoans first mortgage loan. Minimum APR after initial fixed rate period will be 4.50%. Maximum APR is 18.00%. Discounted Initial Fixed Rate of 1.99% requires minimum monthly payment automatically debited from a Central Pacific Bank Personal Checking Account. After the introductory rate period, or if the automatic debit is cancelled or the Checking Account is closed, the rate will change to a variable rate as described in the Important Terms of our Home Equity Line of Credit, ask us for a copy. Refinancing of existing Central Pacific Bank home equity lines of credit opened after January 17, 2011 do not qualify for the offer. Receive a credit at loan closing (up to $500) to offset a third-party lender’s early closing fees when you make an initial advance on your new home equity line of credit account to pay off your existing home equity line balance of at least $10,000 with that third-party lender (payoffs less than $10,000 are not eligible for closing credit). Early closing fee must be assessed and identified by third-party lender through its payoff procedure to receive the credit at loan closing. Bank will cover cost of applicant(s) credit report(s) and closing costs (fees) for owner occupant properties only when directly related to property securing the home equity line of credit and are as follows: flood certification, title insurance, mortgage recording, release of third-party mortgage and Collateral Valuation Report.

**If a Collateral Valuation Report is not available, customer may request an appraisal at a cost of $287. Properties held in trust will be charged trust review fees of $110 per single trust and/or $165 for a joint trust. Requests over $250,000 will be charged for a full appraisal at a cost estimated between $600 and $1,000, and title insurance cost estimated between $982 and $3,165. Investor properties subject to all closing costs (fees) estimated between $526 and $4,940. Account has a 10- year draw period (with interest only monthly payments) followed by a 20- year repayment period (with principal plus interest payments). A termination fee of $500 or 2.0% of the Original Credit Limit, whichever is lower, will be assessed if account is closed within the first 3 years. Loan must be secured by fee simple property located in Hawaii. Homeowner’s and hurricane insurance required; flood insurance required if property is located in flood zone. Subject to credit approval. Other restrictions may apply. Subject to change without notice.

***The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. Please consult your tax advisor about tax deductibility.