Aloha Blogs

Banking Aloha Style

11. Megabanks
Not a single one of the country’s ten biggest banks, including Bank of America, Chase, Citi, and Wells Fargo, has a retail location in Hawaii. The cost of doing business (the high price of real estate, manning call centers for a separate time zone, and the cost of shipping equipment like ATM machines) apparently isn’t worth it for large banks, especially since Hawaii is a relatively small market. This doesn’t really affect people who live in Hawaii — they remain fiercely loyal to local banks like First Hawaiian and Bank of Hawaii — but it does affect tourists who may not being able to withdraw money from an ATM without paying exorbitant fees.

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