Bank of Hawaii’s (BOH) earnings are expected to dip in 2020 partly because of the Fed rate cut in March that will compress margin. Further pressure is expected to come from the normalization of non-interest income. In addition, BOH plans on expanding its network which will increase operating expenses and hence drag earnings. The December 2020 target price implies a significant potential for capital appreciation, thereby, making BOH a good investment for a year’s time frame. Outlook for the near term is, however, not bright due to COVID-19 and the resultant deterioration of