Loan Deferral Information
Thank you for being a valued customer of First Hawaiian Bank, and we hope that the temporary deferral that was approved on your loan helped ease some of the burdens brought on by the COVID-19 Pandemic. As your financial institution, we are here to help you determine appropriate solutions to maintain your financial standing. Below are answers to questions you may have about what happens after your deferral period ends and what steps are required to appropriately manage your loan.

If you have additional questions or need assistance, please contact us at (808) 844-1575 or at our toll-free number 1-877-588-0005.

What's Next After My Deferral Period Ends?

These FAQs were last updated on June 8, 2020.

  • Do I have to make my payments?

    Yes. You are required to make your normal contractual payments as scheduled once the deferral period ends.

  • What happens if I do not make my payment?

    It is in your best interest to resume making your payments. If you fail to make your payments as agreed, you may be assessed a late fee. In addition, if your loan remains unpaid for thirty days or more, your account may be reported to the credit bureaus as being delinquent. This will have a negative impact on your credit score and creditworthiness and could impact your future ability to qualify for credit and/or receive favorable rates.

  • What if I had automatic payments set up prior to my deferral period?

    If you were on an automatic payment plan with us prior to your deferral, your payments will automatically resume and no further action is needed by you. If you had automatic payments scheduled through a different financial institution, you will have to contact them to re-establish your monthly payment.

  • Can I use my current coupon book or do I need a new one?

    If you normally pay using payment coupons, you may continue to do so from your existing coupon book. Your payment will be applied to your account appropriately, regardless of the month printed on the coupon.

  • Can I ask for another deferral?

    Unfortunately, no. The Bank is unable to offer any further deferrals on your loan. A deferral is a temporary option that was extended to provide you with additional time to review your financial situation, explore alternative options made available and determine how you would be able to continue to make payments on your loan. We hope that this time allotted has been valuable to you in determining your next steps towards a long-term solution.

  • I still can’t afford to make my monthly payment, what should I do?

    We understand that this is a difficult time for you. There are many tools and resources available that can help provide information on managing your finances, and we understand that there may be very hard decisions that have to be made. Below are several options you may want to consider and/or begin exploring:

    • Federal resources: The Consumer Financial Protection Bureau (CFPB) and the Department of Housing and Urban Development’s (HUD) websites have valuable information to help you with budgeting and to inform you of options that may be available to you (www.consumerfinance.gov/coronavirus and www.hud.gov/coronavirus).
    • Local resources and agencies: Local counseling agencies may also be able to provide you additional guidance, including emergency loan and other COVID-19 related assistance. You may find a list of such agencies at the CFPB’s website: https://www.consumerfinance.gov/find-a-housing-counselor/.
  • I am an auto loan customer and can’t afford my vehicle any longer, can I just surrender it?

    Yes, you can always voluntarily surrender your vehicle. Before you do, it is important that you understand the surrendering of the vehicle will be reported to the credit reporting agencies and does not relieve you of all liability. If the vehicle cannot be sold at auction at a price sufficient to cover your debt, you may still owe on the balance. If you are considering surrendering your vehicle, you can also consider a private sale as you may be able to get a higher price for your vehicle and pay down more of your debt.