BOH providing financial help for  those impacted by Maui wildfires

HONOLULU, Hawaii—Bank of Hawai‘i is announcing today several financial assistance programs to help Maui residents affected by the ongoing wildfires.

“The devastation unfolding on Maui is heartbreaking for all of us. While we are only just beginning to comprehend the great loss to our community, our hope is that residents can find some immediate relief through these programs that provide financial assistance during this unimaginable time,” said Peter Ho, chairman, CEO and president of Bank of Hawai‘i. 

The programs allow access to cash via an emergency loan or relief on an existing Bank of Hawai‘i loan through an extension or forbearance for Maui residents. 

Emergency Loan Program:

– Fixed interest rate

– Fast approval and quick funding, with no income documents required

– Loan amounts up to $5,000

– Predictable monthly payments

– Loan fee waived

– Funds may be used to provide temporary cash relief for emergency supplies and living essentials.

Forbearance Program:

– Provides loan forbearance for up to 6 months for residential mortgages, home equity loans and home equity lines.

– Following the end of the forbearance period, Bank of Hawai‘i will work with you to resolve any unpaid payments.

– Fees accrued during the forbearance period are waived. 

– Loans must be less than 30 days past due prior to the wildfires.

Extension Program:

– Provides a loan extension for up to 3 months for products, including: direct installment (personal loans) and indirect loans (auto).

– Principal and interest payments will be deferred for the term of the extension. 

– Full payments are due on the first due date following the end of the term of the extension.

– Loans must be less than 30 days past due prior to the wildfires.

For payment relief on an existing Bank of Hawai‘i loan or line, call 800-888-9275 or 808-694-1500. For real estate loans, please call 877-926-7297 or 808-694-7297. 

Details are also available at http://www.boh.com/maui-relief or by visiting a Bank of Hawai‘i branch. (PR)