HONOLULU (HawaiiNewsNow) - Nearly all of Bank of Hawaii's more than 2,000 employees are receiving some form of cash bonus or pay increase this Christmas, the company announced Friday.
Every employee besides the company's most senior-level executives are slated to receive a $1,000 cash bonus over the course of the next week, according to a press release. The bonus is to be awarded to all Hawaii-based employees, as well as those in Guam, Saipan, Palau and American Samoa.
The company also says it will raise its minimum wage level to $15 per hour, starting on January 1, 2018. The current minimum wage for Bankoh employees is $12.
"Our employees are, by far, our greatest asset. It's our pleasure to reward our team with this holiday opportunity," said bank Chairman, President and CEO Peter Ho.
In a statement, Ho credited the Trump administration's recent tax legislation for providing the means by which the changes could be made.
"We've recently been thinking about increasing our minimum wage level throughout the organization to the living wage level. The adjustments to the corporate tax rate provided further momentum to execute on the plan."