Closure of First Hawaiian Bank's Lānaʻi Branch

By Anthony Kaauamo

It has come to the community’s attention that First Hawaiian Bank (FHB) plans to close its Lānaʻi branch on June 28, 2024. This branch, with a history dating back to its origins as Bank of Bishop and Co. in 1924, has been a cornerstone of banking services for our island’s residents. As one of only three banking institutions on Lānaʻi, alongside Bank of Hawaii and Lānaʻi Federal Credit Union, the departure of FHB marks a significant change for our community.

Bank’s Statement:

First Hawaiian Bank provided the following statement regarding the closure: "After a long rich history on the island, we have made the difficult decision to close our Lānaʻi Branch effective June 28. The decision was not made lightly and was based on a variety of factors including the evolving banking landscape and the intensifying complexities in maintaining and staffing the branch. We understand that this will be disruptive, and by announcing this in advance, we hope we are providing customers with the time they need to familiarize themselves with alternative banking options such as our customer service helpline, online banking platform, or mobile app, or to transition to another financial institution. We are grateful for our time on Lānaʻi, and will do what we can to support our customers through this."

Community Concerns and Impact:

The decision, which was communicated ahead of an official customer letter expected on Friday, March 8, has sparked concerns among Lānaʻi’s residents, particularly regarding the impact on our kūpuna who may not engage with digital banking platforms. In a community where face-to-face interaction is not only valued but essential, the loss of a physical banking location poses challenges for those who depend on in-branch services for their financial needs.

Moreover, our Filipino and Kosraean communities, many of whom rely on direct communication and assistance for banking services, face additional barriers. The closure of FHB’s branch not only limits banking options but also reduces vital social interactions that are integral to the well-being of our island’s diverse population.

Community Response and Efforts:

Following the announcement of the bank's impending closure, the Lānaʻi community quickly mobilized, driven by a collective determination to explore all possible avenues to keep the bank operational. A rally was planned to unite voices and demonstrate the depth of concern across the community. However, despite engaging in dialogues with Congresswoman Jill Tokuda, Senator Brian Schatz, and local representatives, these efforts did not lead to a reversal of the bank's decision.

As the community confronts the closure of a key financial institution, the strength of its voice becomes more crucial than ever. The community's response stems from a deep concern for the unique needs of Lānaʻi's residents, especially kūpuna, and the importance of accessible and inclusive banking services for all.

Lānaʻi Today's Engagement:

Lānaʻi Today has contacted First Hawaiian Bank for comments on the Lānaʻi branch closure and is awaiting their response. We are committed to keeping the community informed and will share updates and data regarding the closure as they become available. Our aim is to provide the Lānaʻi residents with the latest information and support during this transition.