<SEC-DOCUMENT>0001104659-25-050236.txt : 20250519
<SEC-HEADER>0001104659-25-050236.hdr.sgml : 20250519
<ACCEPTANCE-DATETIME>20250519074302
ACCESSION NUMBER:		0001104659-25-050236
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		15
FILED AS OF DATE:		20250519
DATE AS OF CHANGE:		20250519
EFFECTIVENESS DATE:		20250519

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST HAWAIIAN, INC.
		CENTRAL INDEX KEY:			0000036377
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		EIN:				990156159
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-287379
		FILM NUMBER:		25961512

	BUSINESS ADDRESS:	
		STREET 1:		999 BISHOP STREET
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96813
		BUSINESS PHONE:		808-525-7000

	MAIL ADDRESS:	
		STREET 1:		999 BISHOP STREET
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96813

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANCWEST CORP/HI
		DATE OF NAME CHANGE:	19981105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST HAWAIIAN INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
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<FILENAME>tm2515344d1_s8.htm
<DESCRIPTION>FORM S-8
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange Commission
on May&#8239;19, 2025.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&#8239;333-</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&#8239;S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.75pt solid"><B>First Hawaiian,&#8239;Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 50%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&#8239;</TD>
    <TD STYLE="vertical-align: top; width: 48%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>99-0156159</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or Other Jurisdiction of<BR>
Incorporation or Organization)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD COLSPAN="2">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>999 Bishop St., 29th Floor</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Honolulu, Hawaii</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>96813</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Zip Code)</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>

<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>First
Hawaiian,&#8239;Inc. 2025 Omnibus Incentive Compensation Plan<BR>
</B></FONT>(Full Title of Plans)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Robert S. Harrison</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Chairman of the Board, President and Chief
Executive Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>First Hawaiian,&#8239;Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>999 Bishop St., 29th Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Honolulu, Hawaii 96813</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(808) 525-7000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address, and telephone number, including
area code, of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>With copies to:</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I></I>Joel E. Rappoport</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Executive Vice President, General Counsel and
Secretary</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>First Hawaiian,&#8239;Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>999 Bishop St., 29th Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Honolulu, Hawaii 96813</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(808) 525-7000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in">Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging
growth company. See the definitions of &#8220;large accelerated filer&#8221;, &#8220;accelerated filer&#8221;, &#8220;smaller reporting
company&#8221; and &#8220;emerging growth company&#8221; in Rule&#8239;12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer</FONT></TD>
    <TD STYLE="width: 2%">&#8239;</TD>
    <TD STYLE="width: 51%"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer</FONT></TD>
    <TD STYLE="width: 2%">&#8239;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    </TR>
  <TR>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD>&#8239;</TD>
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company</FONT></TD>
    <TD>&#8239;</TD>
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT>&#8239;</TD>
    </TR>
  <TR>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging Growth company</FONT></TD>
    <TD>&#8239;</TD>
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT>&#8239;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section&#8239;7(a)(2)(B)&#8239;of the Securities Act. </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>EXPLANATORY
NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April&#8239;22, 2025 (the &#8220;Effective Date&#8221;), at the 2025 annual meeting of stockholders of First Hawaiian,&#8239;Inc. (the &#8220;Company&#8221;
or &#8220;Registrant&#8221;), the Company&#8217;s stockholders approved the First Hawaiian,&#8239;Inc. 2025 Omnibus Incentive Compensation
Plan (the &#8220;2025 Equity Plan&#8221;), which the Board of Directors of the Company had previously approved, subject to stockholder
approval. The 2025 Equity Plan provides, among other things, that a total of 4,750,000 shares of the Company&#8217;s common stock, par
value $0.01 (the &#8220;Common Stock&#8221;), is reserved for issuance under the 2025 Equity Plan (subject to equitable adjustment in
the event of a change in the Company&#8217;s capitalization). </FONT>Shares subject to awards under the 2025 Equity Plan that subsequently
expire unexercised or that are forfeited or settled in cash will be available for future grants of awards under the 2025 Equity Plan and
will be added back in the same number of shares as were deducted in respect of the grant of such award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
stockholder approval of the 2025 Equity Plan, the 2025 Equity Plan replaced the First Hawaiian,&#8239;Inc. 2016 Omnibus Incentive Compensation
Plan (the &#8220;Prior Plan&#8221;), and no additional awards will be made under the Prior Plan. This Registration Statement</FONT> on
Form&#8239;S-8 (this &#8220;Registration Statement&#8221;) is filed by the Company to register 4,750,000 shares of Common Stock for issuance
under the 2025 Equity Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART&#8239;I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE SECTION&#8239;10(A)&#8239;PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The documents containing the
information specified in Part&#8239;I of Form&#8239;S-8 will be sent or given to participants as specified by Rule&#8239;428(b)(1)&#8239;of
the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;). Such documents are not required to be, and are not, being filed
with the Securities and Exchange Commission (the &#8220;Commission&#8221;) either as part of this Registration Statement or as a prospectus
or prospectus supplement pursuant to Rule&#8239;424 under the Securities Act. These documents and the documents incorporated by reference
in this registration statement pursuant to Item 3 of Part&#8239;II of Form&#8239;S-8, taken together, constitute a prospectus that meets
the requirements of Section&#8239;10(a)&#8239;of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART&#8239;II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 3. Incorporation of Documents By Reference</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The following documents that
the Company has filed with the Commission under the Securities Act and the Securities Exchange Act of 1934, as amended (the &#8220;Exchange
Act&#8221;), are incorporated by reference into this Registration Statement and shall be deemed to be a part hereof:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: left">the Registrant&#8217;s <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/36377/000155837025001943/fhb-20241231x10k.htm" STYLE="-sec-extract: exhibit">Annual Report on Form&#8239;10-K for the year ended December&#8239;31, 2024, filed with the Commission on February&#8239;28, 2025</A> (including information specifically incorporated therein by reference from the <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/36377/000110465925022789/tm2424185d5_def14a.htm" STYLE="-sec-extract: exhibit">Definitive Proxy Statement on Schedule 14A for the 2025 Annual Meeting of Shareholders, filed with the Commission on March&#8239;12, 2025</A>);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: left"><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/36377/000155837025006291/fhb-20250331x10q.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Registrant&#8217;s Quarterly Report on Form&#8239;10-Q for the quarter ended March&#8239;31, 2025, filed with the Commission on </FONT>May&#8239;5, 2025;</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: left">the Registrant&#8217;s Current Report on Form&#8239;8-K, filed with the Commission on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/36377/000110465925038102/tm2512978d1_8k.htm" STYLE="-sec-extract: exhibit">April&#8239;23, 2025</A>
(related to the results of the Company&#8217;s annual meeting); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            description of the Registrant&#8217;s Common Stock contained in the Registration Statement
                                            on <A HREF="https://www.sec.gov/Archives/edgar/data/36377/000110465916136689/a16-5174_68a12b.htm" STYLE="-sec-extract: exhibit">Form
                                            8-A, filed with the Commission on August 4, 2016</A>, to register such securities under the
                                            Exchange Act, including all amendments and reports for the purpose of updating such description.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">In addition, all reports and
other documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d)&#8239;of the Exchange Act, prior to the
filing of a post-effective amendment that indicates that all securities offered have been sold or that deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date
of filing of such documents with the Commission. Any statement contained in a document incorporated or deemed to be incorporated by reference
in this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent
that a statement contained in this Registration Statement, or in any other subsequently filed document that also is or is deemed to be
incorporated by reference in this Registration Statement, modifies or supersedes such prior statement. Any statement contained in this
Registration Statement shall be deemed to be modified or superseded to the extent that a statement contained in a subsequently filed document
that is or is deemed to be incorporated by reference in this Registration Statement modifies or supersedes such prior statement. Any statement
so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">No document or information
deemed to be furnished and not filed in accordance with rules&#8239;of the Commission shall be deemed to be incorporated herein by reference
unless such document or information expressly provides to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 4. Description of Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5. Interests of Named Experts and Counsel</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 6. Indemnification of Directors and Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The Company is
incorporated under the Delaware General Corporation Law (the &#8220;DGCL&#8221;). Section&#8239;145 of the DGCL provides that a
corporation organized thereunder may indemnify directors and officers as well as other employees and individuals against expenses
(including attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person
in connection with any threatened, pending or completed actions, suits or proceedings in which such person is made a party by reason
of such person being or having been a director, officer, employee or agent to the corporation. The DGCL provides that
Section&#8239;145 is not exclusive of other rights to which those seeking indemnification may be entitled under any bylaw, agreement,
vote of the Company&#8217;s stockholders or disinterested directors or otherwise. The Company&#8217;s amended and restated bylaws
provide for indemnification of its directors, officers and employees to the fullest extent permitted by the DGCL, subject to limited
exceptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Section&#8239;102(b)(7)&#8239;of
the DGCL permits a corporation to provide in its certificate of incorporation that a director of the corporation shall not be personally
liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i)&#8239;for
any breach of the director&#8217;s duty of loyalty to the corporation or its stockholders, (ii)&#8239;for acts or omissions not in good
faith or which involve intentional misconduct or a knowing violation of law, (iii)&#8239;for unlawful payments of dividends or unlawful
stock purchases, redemptions or other distributions or (iv)&#8239;for any transaction from which the director derived an improper personal
benefit. The Company&#8217;s amended and restated certificate of incorporation provides for such limitation of liability. The Company
maintains policies of insurance under which coverage is provided (a)&#8239;to its directors and officers, in their respective capacities
as such, against loss arising from a claim made for any actual or alleged wrongful act, and (b)&#8239;to the Company with respect to payments
which the Company may make to such officers and directors pursuant to the above indemnification as a matter of law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 7. Exemption from Registration Claimed</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 8. Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The exhibits filed herewith
or incorporated by reference herein are set forth in the Exhibit&#8239;Index filed as part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 9. Undertakings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;To
include any prospectus required by Section&#8239;10(a)(3)&#8239;of the Securities Act&#894;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;To
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-
effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the
registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value
of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&#8239;424(b)&#8239;if, in the aggregate,
the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation
of Filing Fee Tables&#8221; in the effective registration statement&#894; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;To
include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any
material change to such information in the Registration Statement&#894;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>provided</I></FONT>,
<I>however</I>, that paragraphs (1)(i)&#8239;and (1)(ii)&#8239;above do not apply if the information required to be included in a post-effective
amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section&#8239;13
or Section&#8239;15(d)&#8239;of the Exchange Act that are incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">(3)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination
of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the
registrant&#8217;s annual report pursuant to Section&#8239;13(a)&#8239;or Section&#8239;15(d)&#8239;of the Exchange Act (and, where applicable,
each filing of an employee benefit plan&#8217;s annual report pursuant to Section&#8239;15(d)&#8239;of the Exchange Act) that is incorporated
by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of
the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission
such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director,
officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form&#8239;S-8 and has duly caused this Registration Statement on Form&#8239;S&#45;8 to be signed on its behalf by the undersigned,
thereunto duly authorized, in the city of Honolulu, State of Hawaii, on May&#8239;19, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&#8239;</TD>
    <TD COLSPAN="2">First Hawaiian,&#8239;Inc.</TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD COLSPAN="2">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 50%"></TD>
    <TD STYLE="vertical-align: bottom; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; width: 47%">/s/ Robert S. Harrison</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Robert S. Harrison</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board,
    President and Chief Executive Officer</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_001"></A>POWERS OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The undersigned officers and
directors do hereby constitute and appoint Robert S. Harrison, James M. Moses and Joel&#8239;E. Rappoport, and any of them, with full power
of substitution and re-substitution, as our true and lawful attorneys&#45;in&#45;fact and agents, to do any and all acts and things in
our name and behalf in our capacities as directors and officers, and to execute any and all instruments for us and in our names in the
capacities indicated below, that such person may deem necessary or advisable to enable the Company to comply with the Securities Act and
any rules, regulations and requirements of the Commission in connection with this Registration Statement, including specifically, but
not limited to, power and authority to sign for us, any of us, in the capacities indicated below, any and all amendments hereto (including
post-effective amendments); and we do hereby ratify and confirm all that said attorney-in-fact and agent, or his or her substitute, may
lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities indicated on May&#8239;19,
2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 45%"><B>Name</B></TD>
    <TD STYLE="padding-bottom: 1pt; width: 2%">&#8239;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 53%"><B>Title</B></TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top">/s/ Robert S. Harrison</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board,
    President and Chief Executive Officer </FONT></TD></TR>
  <TR>
    <TD STYLE="text-align: center; padding-bottom: 1pt; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Robert
    S. Harrison</FONT></TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive
    Officer)</FONT></TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top">/s/ James M. Moses</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice Chairman and Chief
    Financial Officer</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James
    M. Moses</FONT></TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Financial Officer
    and Principal Accounting Officer)</FONT></TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top">&#8239;/s/ Tertia M. Freas</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tertia
    M. Freas </FONT></TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top">/s/ Michael K. Fujimoto</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael
    K. Fujimoto</FONT></TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top">/s/ Faye W. Kurren</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Faye
    W. Kurren</FONT></TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top">/s/ James S. Moffatt</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James
    S. Moffatt</FONT></TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top">/s/ Mark M. Mugiishi</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mark
    M. Mugiishi</FONT></TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Kelly A. Thompson</FONT></TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kelly
    A. Thompson</FONT></TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top">/s/ Vanessa L. Washington</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vanessa
    L. Washington</FONT></TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top">/s/ C. Scott Wo</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.
    Scott Wo</FONT></TD>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&#8239;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 10%"><B>Exhibit<BR> No.</B></TD>
    <TD STYLE="padding-bottom: 1pt; width: 2%">&#8239;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 88%"><B>Description</B></TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD COLSPAN="2">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/36377/000110465916138673/a16-5174_8ex3d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/36377/000110465916138673/a16-5174_8ex3d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second Amended and Restated Certificate of Incorporation of First Hawaiian,&#8239;Inc. (incorporated by reference to Exhibit&#8239;3.1 to the Current Report on Form&#8239;8-K, filed by the Company with the Commission on August&#8239;10, 2016 (File No.&#8239;001-14585))</FONT></A></TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD COLSPAN="2">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/36377/000155837018003359/fhb-20180331ex31a779200.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/36377/000155837018003359/fhb-20180331ex31a779200.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Amendment to Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit&#8239;3.1(a)&#8239;to the Quarterly Report on Form&#8239;10-Q filed by First Hawaiian,&#8239;Inc. on April&#8239;27, 2018 (File No.&#8239;001-14585))</FONT></A></TD></TR>

<TR>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/36377/000155837020001695/ex-3d3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="text-align: left; vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/36377/000155837020001695/ex-3d3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fourth Amended and Restated Bylaws of First Hawaiian,&#8239;Inc., effective as of February&#8239;26, 2020 (incorporated by reference to Exhibit&#8239;3.3 to the Annual Report on Form&#8239;10-K, filed by the Company with the Commission on February&#8239;28, 2020 (File No.&#8239;001-14585))</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><A HREF="tm2515344d1_ex4-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2515344d1_ex4-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">First Hawaiian,&#8239;Inc. 2025 Omnibus Incentive Compensation Plan*</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><A HREF="tm2515344d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2515344d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Sullivan&#8239;&amp; Cromwell LLP*</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><A HREF="tm2515344d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2515344d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Sullivan&#8239;&amp; Cromwell LLP (included in Exhibit&#8239;5.1)*</FONT></A></TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD COLSPAN="2">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><A HREF="tm2515344d1_ex23-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2515344d1_ex23-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Deloitte&#8239;&amp; Touche LLP*</FONT></A></TD></TR>
  <TR>
    <TD>&#8239;</TD>
    <TD COLSPAN="2">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><A HREF="#S_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top"><A HREF="#S_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power of Attorney (set forth on signature page)*</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&#8239;</TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top">&#8239;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><A HREF="tm2515344d1_ex-filingfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&#8239;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2515344d1_ex-filingfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing Fee Table*</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="width: 98%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed herewith. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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<DOCUMENT>
<TYPE>EX-4.4
<SEQUENCE>2
<FILENAME>tm2515344d1_ex4-4.htm
<DESCRIPTION>EXHIBIT 4.4
<TEXT>
<HTML>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;4.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>FIRST
HAWAIIAN,&nbsp;INC.<BR>
2025 OMNIBUS INCENTIVE COMPENSATION PLAN</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE&nbsp;OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Page</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Article&nbsp;I<BR>
GENERAL</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT></TD><TD STYLE="text-align: justify; width: 85%">Purpose&#9;</TD>
                                                                                                                                            <TD STYLE="text-align: right; width: 10%">1</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2</FONT></TD><TD STYLE="text-align: justify">Definitions of Certain Terms&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3</FONT></TD><TD STYLE="text-align: justify">Administration&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">6</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4</FONT></TD><TD STYLE="text-align: justify">Persons Eligible for Awards&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">9</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.5</FONT></TD><TD STYLE="text-align: justify">Types of Awards Under Plan&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">9</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.6</FONT></TD><TD STYLE="text-align: justify">Shares of Common Stock Available for Awards&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">9</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Article&nbsp;II<BR>
AWARDS UNDER THE PLAN</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 5%">2.1</TD><TD STYLE="text-align: justify; width: 85%">Agreements Evidencing Awards&#9;</TD>
                                                           <TD STYLE="text-align: right; width: 10%">10</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2</FONT></TD><TD STYLE="text-align: justify">No Rights as a Stockholder&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">11</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3</FONT></TD><TD STYLE="text-align: justify">Options&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">11</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.4</FONT></TD><TD STYLE="text-align: justify">Stock Appreciation Rights&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">12</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.5</FONT></TD><TD STYLE="text-align: justify">Restricted Shares&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">14</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.6</FONT></TD><TD STYLE="text-align: justify">Restricted Stock Units&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">14</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.7</FONT></TD><TD STYLE="text-align: justify">Dividend Equivalent Rights&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">14</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.8</FONT></TD><TD STYLE="text-align: justify">Performance-Based Shares and Other Stock-Based or Cash-Based Awards&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">15</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.9</FONT></TD><TD STYLE="text-align: justify">Repayment If Conditions Not Met&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">16</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.10</FONT></TD><TD STYLE="text-align: justify">Minimum Vesting&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">16</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Article&nbsp;III<BR>
MISCELLANEOUS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 5%">3.1</TD><TD STYLE="text-align: justify; width: 85%">Amendment of the Plan&#9;</TD>
                                                           <TD STYLE="text-align: right; width: 10%">16</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT></TD><TD STYLE="text-align: justify">Tax Withholding&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">17</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3</FONT></TD><TD STYLE="text-align: justify">Required Consents and Legends&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">17</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.4</FONT></TD><TD STYLE="text-align: justify">Right of Offset&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">18</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5</FONT></TD><TD STYLE="text-align: justify">Nonassignability; No Hedging&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">19</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.6</FONT></TD><TD STYLE="text-align: justify">Change in Control&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">19</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.7</FONT></TD><TD STYLE="text-align: justify">No Continued Employment or Engagement; Right of Discharge Reserved&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">20</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.8</FONT></TD><TD STYLE="text-align: justify">Nature of Payments&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">20</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.9</FONT></TD><TD STYLE="text-align: justify">Non-Uniform Determinations&#9;</TD>
                                                                                                      <TD STYLE="text-align: right">21</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.10</FONT></TD><TD STYLE="text-align: justify">Other Payments or Awards&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">21</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.11</FONT></TD><TD STYLE="text-align: justify">Plan Headings&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">21</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.12</FONT></TD><TD STYLE="text-align: justify">Termination of Plan&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">21</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.13</FONT></TD><TD STYLE="text-align: justify">Clawback/Recapture Policy&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">21</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.14</FONT></TD><TD STYLE="text-align: justify">FDIC Limits on Golden Parachute Payments&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">22</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.15</FONT></TD><TD STYLE="text-align: justify">Section&nbsp;409A&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">22</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.16</FONT></TD><TD STYLE="text-align: justify">Governing Law&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">23</TD></TR>
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<TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.17</FONT></TD><TD STYLE="text-align: justify; width: 85%">Disputes; Choice of Forum&#9;</TD>
                                                                                                                                             <TD STYLE="text-align: right; width: 10%">23</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.18</FONT></TD><TD STYLE="text-align: justify">Waiver of Jury Trial&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">24</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.19</FONT></TD><TD STYLE="text-align: justify">Waiver of Claims&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">24</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.20</FONT></TD><TD STYLE="text-align: justify">Severability; Entire Agreement&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.21</FONT></TD><TD STYLE="text-align: justify">No Liability With Respect to Tax Qualification or Adverse Tax Treatment&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.22</FONT></TD><TD STYLE="text-align: justify">No Third-Party Beneficiaries&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.23</FONT></TD><TD STYLE="text-align: justify">Successors and Assigns of the Company&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.24</FONT></TD><TD STYLE="text-align: justify">Date of Adoption and Approval of Stockholders&#9;</TD>
                                                                                                       <TD STYLE="text-align: right">25</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>FIRST
HAWAIIAN,&nbsp;INC.<BR>
</B></FONT><B><FONT STYLE="text-transform: uppercase">2025 OMNIBUS INCENTIVE COMPENSATION PLAN</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>Article&nbsp;I</B></FONT><B><BR>
GENERAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.1</B></FONT></TD><TD><B>Purpose</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The purpose of the First Hawaiian,&nbsp;Inc. 2025
Omnibus Incentive Compensation Plan (as amended from time to time, the &ldquo;<B><U>Plan</U></B>&rdquo;) is to help First Hawaiian,&nbsp;Inc.,
a Delaware corporation (&ldquo;<B><U>First Hawaiian</U></B>&rdquo;), and any Subsidiary and any successor entity thereto (collectively,
the &ldquo;<B><U>Company</U></B>&rdquo;): (1)&nbsp;attract, retain and motivate key employees (including prospective employees) (other
than non-employee Directors of First Hawaiian); (2)&nbsp;align the interests of such persons with First Hawaiian&rsquo;s stockholders;
and (3)&nbsp;promote ownership of First Hawaiian&rsquo;s equity. Awards made pursuant to the Plan will be subject to the laws and regulations
that may apply to First Hawaiian from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.2</B></FONT></TD><TD><B>Definitions of Certain Terms</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For purposes of this Plan, the following terms
have the meanings set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Acquisition
Awards</U></B>&rdquo; has the meaning set forth in <U>Section&nbsp;1.6.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Award</U></B>&rdquo;
means an award made pursuant to the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Award
Agreement</U></B>&rdquo; means the written document by which each Award is evidenced, and which may, but need not be (as determined by
the Committee) executed or acknowledged by a Grantee as a condition to receiving an Award or the benefits under an Award, and which sets
forth the terms and provisions applicable to Awards granted under the Plan to such Grantee. Any reference herein to an agreement in writing,
and acceptance thereof, will be deemed to include an electronic writing and electronic acceptance to the extent permitted by applicable
law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Board</U></B>&rdquo;
means the Board of Directors of First Hawaiian.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Business
Combination</U></B>&rdquo; has the meaning provided in the definition of Change in Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.2.6&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; &ldquo;<B><U>Cause</U></B>&rdquo; means (a)&#8239;with
respect to a Grantee employed pursuant to a written employment agreement which agreement includes a definition of &ldquo;Cause,&rdquo;
&ldquo;Cause&rdquo; as defined in that agreement or (b)&#8239;with respect to any other Grantee, the occurrence of any of the following:
(i)&#8239;such Grantee&rsquo;s willful failure to perform his or her duties for the Company (other than any such failure resulting from
such Grantee&rsquo;s Disability), after written demand for substantial performance has been delivered to the Grantee by the Committee
that specifically identifies how the Grantee has not substantially performed his or her duties, and the Grantee fails to remedy the situation
within fifteen (15)&#8239;business days of such written demand from the Committee, (ii)&#8239;gross negligence in the performance of such
Grantee&rsquo;s duties, (iii)&#8239;such Grantee&rsquo;s conviction of, or plea of nolo contendere, to any felony whatsoever or any other
crime involving the personal enrichment of such Grantee at the expense of the Company, (iv)&#8239;such Grantee&rsquo;s willful engagement
in conduct that is demonstrably and materially injurious to the Company, monetarily or otherwise, (v)&#8239;a material violation of any
federal or state banking law or regulation, (vi)&#8239;a material violation of any contract or agreement between the Grantee and the Company
or any provision of the Company&rsquo;s code of business conduct and ethics (including any successor thereto) or any other Company-established
code of conduct to which such Grantee is subject, (vii)&#8239;such Grantee&rsquo;s (1)&#8239;obstruction, (2)&#8239;attempts to influence,
obstruct or impede, or (3)&#8239;failure to materially cooperate with an investigation authorized by the Board, any self-regulatory agency
or any other regulatory agency with jurisdiction over the Company, or (viii)&#8239;such Grantee&rsquo;s withholding, removal, concealment,
destruction, alteration or falsification of any material requested in connection with any such investigation, or attempt to do so or solicitation
of another to do so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.7&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Certificate</U></B>&rdquo;
means a stock certificate (or other appropriate document or evidence of ownership) representing Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.8&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Change
in Control</U></B>&rdquo; means the occurrence of any of the following events:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>during
any period of not more than 36&#8239;months, individuals who constitute the Board as of the beginning of the period (the &ldquo;<B><U>Incumbent
Directors</U></B>&rdquo;) cease for any reason to constitute at least a majority of the Board, <U>provided</U>&#8239;<U>that</U> any person becoming
a Director subsequent to the beginning of such period, whose election or nomination for election was approved by a vote of at least two-thirds
of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of First Hawaiian in which
such person is named as a nominee for Director, without written objection to such nomination) will be an Incumbent Director; <U>provided</U>,
<U>however</U>, that no individual initially elected or nominated as a Director of First Hawaiian as a result of an actual or publicly
threatened election contest with respect to Directors or as a result of any other actual or publicly threatened solicitation of proxies
by or on behalf of any person other than the Board will be deemed to be an Incumbent Director;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
&ldquo;person&rdquo; (as such term is defined in Section&#8239;3(a)(9)&#8239;of the Exchange Act and as used in Sections&#8239;13(d)(3)&#8239;and
14(d)(2)&#8239;of the Exchange Act) is or becomes a &ldquo;beneficial owner&rdquo; (as defined in Rule&#8239;13d-3 under the Exchange Act),
directly or indirectly, of securities of First Hawaiian representing 50% or more of the combined voting power of First Hawaiian&rsquo;s
then-outstanding securities eligible to vote for the election of the Board (&ldquo;<B><U>Company Voting Securities</U></B>&rdquo;); <U>provided</U>,
<U>however</U>, that the event described in this paragraph&#8239;(b)&#8239;will not be deemed to be a Change in Control by virtue of the
ownership, or acquisition, of Company Voting Securities: (A)&#8239;by the Company, (B)&#8239;by any employee benefit plan (or related trust)
sponsored or maintained by the Company, (C)&#8239;by any underwriter temporarily holding securities pursuant to an offering of such securities,
or (D)&#8239;pursuant to a Non-Qualifying Transaction (as defined in paragraph&#8239;(c)&#8239;of this definition);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>the
consummation of a merger, consolidation, statutory share exchange or similar form of corporate transaction involving First Hawaiian that
requires the approval of First Hawaiian&rsquo;s stockholders, whether for such transaction or the issuance of securities in the transaction
(a &ldquo;<B><U>Business Combination</U></B>&rdquo;), unless immediately following such Business Combination: (A)&#8239;more than 50% of
the total voting power of (x)&#8239;the entity resulting from such Business Combination (the &ldquo;<B><U>Surviving Entity</U></B>&rdquo;),
or (y)&#8239;if applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of at least 95% of the
voting power, is represented by Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if
applicable, is represented by shares into which such Company Voting Securities were converted pursuant to such Business Combination),
and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company Voting Securities
among the holders thereof immediately prior to the Business Combination, (B)&#8239;no person (other than any employee benefit plan (or
related trust) sponsored or maintained by the Surviving Entity or the parent), is or becomes the beneficial owner, directly or indirectly,
of 50% or more of the total voting power of the outstanding voting securities eligible to elect directors of the parent (or, if there
is no parent, the Surviving Entity) and (C)&#8239;at least 50% of the members of the board of directors of the parent (or, if there is
no parent, the Surviving Entity) following the consummation of the Business Combination were Incumbent Directors at the time of the Board&rsquo;s
approval of the execution of the initial agreement providing for such Business Combination (any Business Combination which satisfies all
of the criteria specified in (A), (B)&#8239;and (C)&#8239;of this paragraph&#8239;(c)&#8239;will be deemed to be a &ldquo;<B><U>Non-Qualifying
Transaction</U></B>&rdquo;); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>the
consummation of a sale of all or substantially all of First Hawaiian&rsquo;s assets (other than to an affiliate of First Hawaiian); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>First
Hawaiian&rsquo;s stockholders approve a plan of complete liquidation or dissolution of First Hawaiian.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the foregoing, a Change in Control
will not be deemed to occur solely because any person acquires beneficial ownership of more than 50% of the Company Voting Securities
as a result of the acquisition of Company Voting Securities by the Company which reduces the number of Company Voting Securities outstanding;
<U>provided</U>&#8239;<U>that</U> if after such acquisition by the Company such person becomes the beneficial owner of additional Company Voting Securities
that increases the percentage of outstanding Company Voting Securities beneficially owned by such person, a Change in Control will then
occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.9&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Code</U></B>&rdquo;
means the Internal Revenue Code of 1986, as amended from time to time, or any successor thereto, and the applicable rulings and regulations
thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.10&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Committee</U></B>&rdquo;
has the meaning set forth in <U>Section&#8239;1.3.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.11&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Common
Stock</U></B>&rdquo; means the common stock of First Hawaiian, par value $0.01 per share, and any other securities or property issued
in exchange therefor or in lieu thereof pursuant to <U>Section&#8239;1.6.3</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.12&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Company</U></B>&rdquo;
has the meaning set forth in <U>Section&#8239;1.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.13&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Company
Voting Securities</U></B>&rdquo; has the meaning provided in the definition of Change in Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.14&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Consent</U></B>&rdquo;
has the meaning set forth in <U>Section&#8239;3.3.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.15&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Covered
Person</U></B>&rdquo; has the meaning set forth in <U>Section&#8239;1.3.4</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.16&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Director</U></B>&rdquo;
means a member of the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.17&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Disability</U></B>&rdquo;
means the Grantee (a)&#8239;is unable to engage in any substantial gainful activity by reason of any medically determinable physical or
mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve
(12)&#8239;months, or (b)&#8239;is, by reason of any medically determinable physical or mental impairment which can be expected to result
in death or can be expected to last for a continuous period of not less than twelve (12)&#8239;months, receiving income replacement benefits
for a period of not less than three (3)&#8239;months under an accident and health plan covering employees of the Company. In addition to
the foregoing, a Grantee will be deemed Disabled as of the date the Social Security Administration determines the Grantee to be totally
disabled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.18&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Effective
Date</U></B>&rdquo; has the meaning set forth in <U>Section&#8239;3.24</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.19&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Employee</U></B>&rdquo;
means a regular, active employee, or a prospective employee of the Company and/or solely with respect to his or her final year of service,
a former employee of the Company, but not including a non-employee Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.20&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Employment</U></B>&rdquo;
means a Grantee&rsquo;s performance of services for the Company, as determined by the Committee. The terms &ldquo;employ&rdquo; and &ldquo;employed&rdquo;
will have their correlative meanings. The Committee in its sole discretion may determine (a)&#8239;whether and when a Grantee&rsquo;s leave
of absence results in a termination of Employment, (b)&#8239;whether and when a change in a Grantee&rsquo;s association with the Company
results in a termination of Employment and (c)&#8239;the impact, if any, of any such leave of absence or change in association on outstanding
Awards. Unless expressly provided otherwise, any references in the Plan or any Award Agreement to a Grantee&rsquo;s Employment being terminated
will include both voluntary and involuntary terminations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.21&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Exchange
Act</U></B>&rdquo; means the Securities Exchange Act of 1934, as amended from time to time, or any successor thereto, and the applicable
rules&#8239;and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.22&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Fair
Market Value</U></B>&rdquo; means, with respect to a Share, the closing price reported for the Common Stock on the applicable date as
reported on the NASDAQ Global Select Market or, if not so reported, as determined in accordance with a valuation methodology approved
by the Committee, unless determined as otherwise specified herein. For purposes of the grant of any Award, the applicable date will be
the trading day on which the Award is granted or, if the date the Award is granted is not a trading day, the trading day immediately prior
to the date the Award is granted. For purposes of the exercise of any Award, the applicable date is the date a notice of exercise is received
by the Company or, if such date is not a trading day, the trading day immediately following the date a notice of exercise is received
by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.23&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>First
Hawaiian</U></B>&rdquo; has the meaning set forth in <U>Section&#8239;1.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.24&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Good
Reason</U></B>&rdquo; means (a)&#8239;with respect to a Grantee employed pursuant to a written employment agreement which agreement includes
a definition of &ldquo;Good Reason,&rdquo; &ldquo;Good Reason&rdquo; as defined in that agreement or (b)&#8239;with respect to any other
Grantee, the occurrence of any of the following in the absence of the Grantee&rsquo;s prior written consent: (i)&#8239;such Grantee has
incurred a material reduction in base salary, authority, duties or responsibilities, or in the budget over which the Grantee has authority
at the Company; (ii)&#8239;within two (2)&#8239;years after a Change in Control, such Grantee has incurred a material reduction in the authority,
duties or responsibilities of the Grantee&rsquo;s supervisor; or (iii)&#8239;such Grantee has been provided notice that his principal place
of work will be relocated to a different Hawaiian Island or to a place more than 50 miles from the Grantee&rsquo;s base of employment
immediately prior to the Change in Control. Provided, in each case, that no event or circumstance described by the foregoing sentence
will constitute Good Reason unless (i)&#8239;the Grantee provides the Company notice thereof within ninety (90)&#8239;days after the occurrence
or existence of such event or circumstance, (ii)&#8239;the Company fails to cure such event or circumstance within thirty (30)&#8239;days
after delivery of such notice and (iii)&#8239;the Grantee&rsquo;s employment with the Company terminates within thirty (30)&#8239;days after
the expiration of such cure period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.25&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Grantee</U></B>&rdquo;
means an Employee who receives an Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.26&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Incentive
Stock Option</U></B>&rdquo; means a stock option to purchase Shares that is intended to be an &ldquo;incentive stock option&rdquo; within
the meaning of Sections&#8239;421 and 422 of the Code, as now constituted or subsequently amended, or pursuant to a successor provision
of the Code, and which is designated as an Incentive Stock Option in the applicable Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.27&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Incumbent
Directors</U></B>&rdquo; has the meaning provided in the definition of Change in Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.28&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Non-Qualifying
Transaction</U></B>&rdquo; has the meaning provided in the definition of Change in Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.29&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Other
Stock-Based or Cash-Based Awards</U></B>&rdquo; has the meaning set forth in Section&#8239;2.8.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.30&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Performance-Based
Awards</U></B>&rdquo; means certain Other Stock-Based or Cash-Based Awards granted pursuant to <U>Section&#8239;2.8.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.31&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Performance
Criteria</U></B>&rdquo; has the meaning set forth in <U>Section&#8239;2.8.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.32&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Performance
Goals</U></B>&rdquo; means the performance goals established by the Committee in connection with the grant of Awards, which may or may
not be based on Performance Criteria.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.33&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Plan</U></B>&rdquo;
has the meaning set forth in <U>Section&#8239;1.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.34&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Plan
Action</U></B>&rdquo; has the meaning set forth in <U>Section&#8239;3.3.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.35&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Section&#8239;409A</U></B>&rdquo;
means Section&#8239;409A of the Code, including any amendments or successor provisions to that section, and any regulations and other administrative
guidance thereunder, in each case as they may be from time to time amended or interpreted through further administrative guidance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.36&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Securities
Act</U></B>&rdquo; means the Securities Act of 1933, as amended from time to time, or any successor thereto, and the applicable rules&#8239;and
regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.37&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Share
Limit</U></B>&rdquo; has the meaning set forth in <U>Section&#8239;1.6.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.38&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Shares</U></B>&rdquo;
means shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.39&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Subsidiary</U></B>&rdquo;
means any corporation, partnership, limited liability company or other legal entity in which First Hawaiian, directly or indirectly, owns
stock or other equity interests possessing 50% or more of the total combined voting power of all classes of the then-outstanding stock
or other equity interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.40&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Surviving
Entity</U></B>&rdquo; has the meaning provided in the definition of Change in Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.41&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Ten
Percent Stockholder</U></B>&rdquo; means a person owning stock possessing more than 10% of the total combined voting power of all classes
of stock of First Hawaiian and of any Subsidiary or parent corporation of First Hawaiian.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.42&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>&ldquo;<B><U>Treasury
Regulations</U></B>&rdquo; means the regulations promulgated under the Code by the United States Treasury Department, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.3</B></FONT></TD><TD><B>Administration</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
Compensation Committee of the Board (as constituted from time to time, and including any successor committee, the &ldquo;<B><U>Committee</U></B>&rdquo;)
will administer the Plan. In particular, the Committee will have the authority in its sole discretion to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>exercise
all of the powers granted to it, and make all determinations, under the Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>construe,
interpret and implement and correct any defect, supply any omission and reconcile any inconsistency in the Plan and all Award Agreements
and determine disputed facts related thereto; <U>provided</U>&#8239;<U>that</U>, with respect to all claims or disputes arising out of any determination
of the Committee that materially adversely affects a Grantee&rsquo;s Award, (i)&#8239;the affected Grantee shall file a written claim with
the Committee for review, explaining the reasons for such claim, and (ii)&#8239;the Committee&rsquo;s decision must be written and must
explain the decision;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>prescribe,
amend and rescind rules&#8239;and regulations relating to the Plan, including rules&#8239;governing the Committee&rsquo;s own operations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>grant,
or recommend to the Board for approval to grant, Awards and determine who will receive Awards, when such Awards will be granted and the
terms of such Awards, including setting forth provisions with regard to the effect of a termination of Employment on such Awards and conditioning
the vesting of, or the lapsing of any applicable vesting restrictions or other vesting conditions on, Awards upon the attainment of Performance
Goals and/or upon continued service;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>amend
the Plan or any outstanding Award Agreement in any respect, including, without limitation, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD>accelerate the time or times at which the Award becomes vested, unrestricted or may be exercised (and, in connection with such acceleration,
the Committee may provide that any Shares acquired pursuant to such Award will be restricted shares, which are subject to vesting, transfer,
forfeiture or repayment provisions similar to those in the Grantee&rsquo;s underlying Award);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD>accelerate the time or times at which Shares are delivered under the Award (and, without limitation on the Committee&rsquo;s rights,
in connection with such acceleration, the Committee may provide that any Shares delivered pursuant to such Award will be restricted shares,
which are subject to vesting, transfer, forfeiture or repayment provisions similar to those in the Grantee&rsquo;s underlying Award);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD><TD>waive or amend any goals, restrictions, vesting provisions or conditions set forth in such Award Agreement, or impose new goals, restrictions,
vesting provisions and conditions; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD><TD>reflect a change in the Grantee&rsquo;s circumstances (<I>e.g.</I>, a change to part-time employment status or a change in position,
duties or responsibilities); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>determine
at any time whether, to what extent and under what circumstances and method or methods, subject to <U>Section&#8239;3.15</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD>Awards may be:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(A)</FONT></TD><TD>settled in cash, Shares, other securities, other Awards or other property (in which event, the Committee may specify what other effects
such settlement will have on the Grantee&rsquo;s Award, including the effect on any repayment provisions under the Plan or Award Agreement);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(B)</FONT></TD><TD>exercised; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(C)</FONT></TD><TD>canceled, forfeited or suspended;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD>Shares, other securities, other Awards or other property and other amounts payable with respect to an Award may be deferred either
automatically or at the election of the Grantee thereof or of the Committee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD><TD>to the extent permitted under applicable law, loans (whether or not secured by Common Stock) may be extended by the Company with respect
to any Awards;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD><TD>Awards may be settled by First Hawaiian, any of its Subsidiaries or affiliates or any of their designees; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD><TD>the exercise price for any stock option (other than an Incentive Stock Option, unless the Committee determines that such a stock option
will no longer constitute an Incentive Stock Option) or stock appreciation right may be reset.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Actions
of the Committee may be taken by the vote of a majority of its members present at a meeting (which may be held telephonically). Any action
may be taken by a written instrument signed by a majority of the Committee members, and action so taken will be as fully effective as
if it had been taken by a vote at a meeting. The determination of the Committee on all matters relating to the Plan or any Award Agreement
will be entitled to the maximum deference permitted by law and will be final, binding and conclusive and non-reviewable and non-appealable
and may be entered as a final judgment in any court having jurisdiction. The Committee may delegate (either generally or specifically)
the powers, authorities and discretions conferred on it under this <U>Section&#8239;1.3.2</U> as it deems appropriate in its sole discretion
in accordance with applicable law. The Committee may allocate among its members and delegate to any person who is not a member of the
Committee, or to any administrative group within the Company, any of its powers, responsibilities or duties. In delegating its authority,
the Committee will consider the extent to which any delegation may cause Awards to fail to meet the requirements of Rule&#8239;16(b)-3(d)(1)&#8239;or
Rule&#8239;16(b)-3(e)&#8239;under the Exchange Act. Except as specifically provided to the contrary, references to the Committee include
any administrative group, individual or individuals to whom the Committee has delegated its duties and powers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Notwithstanding
anything to the contrary contained herein, the Board may, in its sole discretion, at any time and from time to time, grant Awards or administer
the Plan. In any such case, the Board will have all of the authority and responsibility granted to the Committee herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>No
member of the Board or Committee or any person to whom the Board or Committee delegates its powers, responsibilities or duties in writing,
including by resolution (each such person, a &ldquo;<B><U>Covered Person</U></B>&rdquo;), will have any liability to any person (including
any Grantee) for any action taken or omitted to be taken or any determination made with respect to the Plan or any Award, except as expressly
provided by statute. Each Covered Person will be indemnified and held harmless by the Company against and from:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
loss, cost, liability or expense (including attorneys&rsquo; fees) that may be imposed upon or incurred by such Covered Person in connection
with or resulting from any action, suit or proceeding to which such Covered Person may be a party or in which such Covered Person may
be involved by reason of any action taken or omitted to be taken under the Plan or any Award Agreement, in each case, in good faith, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
and all amounts paid by such Covered Person, with the Company&rsquo;s approval, in settlement thereof, or paid by such Covered Person
in satisfaction of any judgment in any such action, suit or proceeding against such Covered Person, <U>provided</U>&#8239;<U>that</U> the Company will
have the right, at its own expense, to assume and defend any such action, suit or proceeding and, once the Company gives notice of its
intent to assume the defense, the Company will have sole control over such defense with counsel of the Company&rsquo;s choice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing right of indemnification will not
be available to a Covered Person to the extent that a court of competent jurisdiction in a final judgment or other final adjudication,
in either case, not subject to further appeal, determines that the acts or omissions of such Covered Person giving rise to the indemnification
claim resulted from such Covered Person&rsquo;s bad faith, fraud or willful misconduct. The foregoing right of indemnification will not
be exclusive of any other rights of indemnification to which Covered Persons may be entitled under First Hawaiian&rsquo;s Amended and
Restated Certificate of Incorporation or Amended and Restated Bylaws, pursuant to any individual indemnification agreements between such
Covered Person and the Company, as a matter of law, or otherwise, or any other power that the Company may have to indemnify such persons
or hold them harmless.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.4</B></FONT></TD><TD><B>Persons Eligible for Awards</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Awards under the Plan may be made to Employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.5</B></FONT></TD><TD><B>Types of Awards Under Plan</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Awards may be made under the Plan in the form of
cash-based or stock-based Awards. Stock-based Awards may be in the form of any of the following, in each case in respect of Common Stock:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>stock
options;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>stock
appreciation rights;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>restricted
shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>restricted
stock units;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>dividend
equivalent rights; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Performance-based
shares or other equity-based or equity-related Awards (as further described in <U>Section&#8239;2.8</U>) that the Committee determines
to be consistent with the purposes of the Plan and the interests of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.6</B></FONT></TD><TD><B>Shares of Common Stock Available for Awards</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.6.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Common
Stock Subject to the Plan</U></B><I>. </I>Subject to the other provisions of this <U>Section&#8239;1.6</U>, the total number of Shares
that may be granted under the Plan will be 4,750,000 (the &ldquo;<B><U>Share Limit</U></B>&rdquo;). Shares of Common Stock subject to
awards that are assumed, converted or substituted under the Plan as a result of the Company&rsquo;s acquisition of another company (including
by way of merger, combination or similar transaction) (&ldquo;<B><U>Acquisition Awards</U></B>&rdquo;) will not count against the number
of shares that may be granted under the Plan. Available shares under a stockholder approved plan of an acquired company (as appropriately
adjusted to reflect the transaction) may be used for Awards under the Plan and do not reduce the maximum number of shares available for
grant under the Plan, subject to applicable stock exchange requirements. With respect to Awards of stock-settled share appreciation rights,
the Share Limit will be reduced by the full number of Shares underlying the exercised portion of such Award (rather than only the Shares
actually delivered upon exercise).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.6.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Replacement
of Shares</U></B><I>. </I>Shares subject to an Award that is forfeited (including any restricted shares repurchased by the Company at
the same price paid by the Grantee so that such Shares are returned to the Company), expires or is settled for cash (in whole or in part),
to the extent of such forfeiture, expiration or cash settlement, will be available for future grants of Awards under the Plan and will
be added back in the same number of Shares as were deducted in respect of the grant of such Award. The payment of dividend equivalent
rights in cash in conjunction with any outstanding Awards will not be counted against the Shares available for issuance under the Plan.
Shares tendered by a Grantee or withheld by the Company in payment of the exercise price of a stock option or to satisfy any tax withholding
obligation with respect to an Award will not again be available for Awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.6.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Adjustments</U></B><I>.
</I>The Committee will:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>adjust
the type of property or securities and the number authorized pursuant to <U>Section&#8239;1.6.1</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>adjust
the type of property or securities and the number set forth in <U>Section&#8239;2.3.2</U> that can be issued through Incentive Stock Options;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>adjust
any other terms of the Plan and the terms of any outstanding Awards (including, without limitation, the number of Shares covered by each
outstanding Award, the type of property or securities to which the Award relates and the exercise or strike price of any Award), in such
manner as it deems appropriate (including, without limitation, by payment of cash or other property or securities) to prevent the enlargement
or dilution of rights, as a result of any increase or decrease in the number of issued Shares (or issuance of shares of stock or other
property or securities other than Shares) resulting from a recapitalization, stock split, reverse stock split, stock dividend, spinoff,
split up, combination, reclassification or exchange of Shares, merger, consolidation, rights offering, separation, reorganization or
liquidation or any other change in the corporate structure or Shares, including any extraordinary dividend or extraordinary distribution;
<U>provided</U> <U>that</U> no such adjustment may be made if or to the extent that it would cause an outstanding Award to cease to be
exempt from, or to fail to comply with, Section&#8239;409A of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>Article&#8239;II</B></FONT><BR>
<B>AWARDS UNDER THE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.1</B></FONT></TD><TD><B>Agreements Evidencing Awards</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Award granted under the Plan will be evidenced
by an Award Agreement that will contain such provisions and conditions as the Committee deems appropriate. Unless otherwise provided herein,
the Committee may grant Awards in tandem with or, subject to <U>Section&#8239;3.15</U>, in substitution for or satisfaction of any other
Award or Awards granted under the Plan or any award granted under any other plan of the Company. By accepting an Award pursuant to the
Plan, a Grantee thereby agrees that the Award will be subject to all of the terms and provisions of the Plan and the applicable Award
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.2</B></FONT></TD><TD><B>No Rights as a Stockholder</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No Grantee (or other person having rights pursuant
to an Award) will have any of the rights of a stockholder of First Hawaiian with respect to Shares subject to an Award until the delivery
of such Shares. Except as otherwise provided in <U>Section&#8239;1.6.3</U>, no adjustments will be made for dividends, distributions or
other rights (whether ordinary or extraordinary, and whether in cash, Common Stock, other securities or other property) for which the
record date is before the date the Certificates for the Shares are delivered, or in the event the Committee elects to use another system,
such as book entries by the transfer agent, before the date in which such system evidences the Grantee&rsquo;s ownership of such Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.3</B></FONT></TD><TD><B>Options</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Grant</U></B>.
Stock options may be granted to eligible recipients in such number and at such times during the term of the Plan as the Committee may
determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Incentive
Stock Options</U></B>. At the time of grant, the Committee will determine:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>whether
all or any part of a stock option granted to an eligible Employee will be an Incentive Stock Option; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>the
number of Shares subject to such Incentive Stock Option; <U>provided</U>, <U>however</U>, that</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD>the aggregate Fair Market Value (determined as of the time the option is granted) of the stock with respect to which Incentive Stock
Options are exercisable for the first time by an eligible Employee during any fiscal year (under all such plans of First Hawaiian and
of any Subsidiary or parent corporation of First Hawaiian) may not exceed $100,000; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD>no Incentive Stock Option (other than an Incentive Stock Option that may be assumed or issued by the Company in connection with a
transaction to which Section&#8239;424(a)&#8239;of the Code applies) may be granted to a person who is not eligible to receive an Incentive
Stock Option under the Code.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The form of any stock option which is entirely
or in part an Incentive Stock Option will clearly indicate that such stock option is an Incentive Stock Option or, if applicable, the
number of Shares subject to the Incentive Stock Option. No more than 500,000 Shares (as adjusted pursuant to the provisions of <U>Section&#8239;1.6.3</U>)
that can be delivered under the Plan may be issued through Incentive Stock Options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Exercise
Price</U></B><I>. </I>The exercise price per share with respect to each stock option will be determined by the Committee but, except as
otherwise permitted by <U>Section&#8239;1.6.3</U>, may never be less than the Fair Market Value of a share of Common Stock (or, in the
case of an Incentive Stock Option granted to a Ten Percent Stockholder, 110% of the Fair Market Value). Unless otherwise noted in the
Award Agreement, the Fair Market Value of the Common Stock will be its Fair Market Value on the date of grant of the Award of stock options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Term
of Stock Option</U></B><I>. </I>In no event will any stock option be exercisable after the expiration of 10&#8239;years (or, in the case
of an Incentive Stock Option granted to a Ten Percent Stockholder, five (5)&#8239;years) from the date on which the stock option is granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Vesting
and Exercise of Stock Option and Payment for Shares</U></B><I>. </I>A stock option may vest and be exercised at such time or times and
subject to such terms and conditions as will be determined by the Committee at the time the stock option is granted and set forth in the
Award Agreement, subject to <U>Section&#8239;2.10</U>. Subject to any limitations in the applicable Award Agreement, any Shares not acquired
pursuant to the exercise of a stock option on the applicable vesting date may be acquired thereafter at any time before the final expiration
of the stock option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To exercise a stock option, the Grantee must give
written notice to the Company specifying the number of Shares to be acquired and accompanied by payment of the full purchase price therefor
in cash or by certified or official bank check or in another form as determined by the Company, which may include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>personal
check;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Shares,
based on the Fair Market Value as of the exercise date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
other form of consideration approved by the Company and permitted by applicable law; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
combination of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Committee may also make arrangements for the
cashless exercise of a stock option. Any person exercising a stock option will make such representations and agreements and furnish such
information as the Committee may, in its sole discretion, deem necessary or desirable to effect or assure compliance by the Company on
terms acceptable to the Company with the provisions of the Securities Act, the Exchange Act and any other applicable legal requirements.
The Committee may, in its sole discretion, also take whatever additional actions it deems appropriate to effect such compliance, including,
without limitation, placing legends on share certificates and issuing stop-transfer notices to agents and registrars. If a Grantee so
requests, Shares acquired pursuant to the exercise of a stock option may be issued in the name of the Grantee and another jointly with
the right of survivorship.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.6&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Repricing</U></B><I>.
</I>Except as otherwise permitted by <U>Section&#8239;1.6.3</U>, reducing the exercise price of stock options issued and outstanding under
the Plan, including through amendment, cancellation in exchange for the grant of a substitute Award or repurchase for cash or other consideration
(in each case that has the effect of reducing the exercise price), will require approval of First Hawaiian&rsquo;s stockholders. The Company
will not grant any stock options with automatic reload features.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.4</B></FONT></TD><TD><B>Stock Appreciation Rights</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.4.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Grant</U></B><I>.
</I>Stock appreciation rights may be granted to eligible recipients in such number and at such times during the term of the Plan as the
Committee may determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.4.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Exercise
Price</U></B><I>. </I>The exercise price per share with respect to each stock appreciation right will be determined by the Committee but,
except as otherwise permitted by <U>Section&#8239;1.6.3</U>, may never be less than the Fair Market Value of the Common Stock. Unless otherwise
noted in the Award Agreement, the Fair Market Value of the Common Stock will be its Fair Market Value on the date of grant of the Award
of stock appreciation rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.4.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Term
of Stock Appreciation Right</U></B><I>. </I>In no event will any stock appreciation right be exercisable after the expiration of 10&#8239;years
from the date on which the stock appreciation right is granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.4.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Vesting
and Exercise of Stock Appreciation Right and Delivery of Shares</U></B><I>. </I>Each stock appreciation right may vest and be exercised
in such installments as may be determined in the Award Agreement at the time the stock appreciation right is granted, subject to <U>Section&#8239;2.10</U>.
Subject to any limitations in the applicable Award Agreement, any stock appreciation rights not exercised on the applicable vesting date
may be exercised thereafter at any time before the final expiration of the stock appreciation right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To exercise a stock appreciation right, the Grantee
must give written notice to the Company specifying the number of stock appreciation rights to be exercised. Upon exercise of stock appreciation
rights, Shares, cash or other securities or property, or a combination thereof, as specified by the Committee, equal in value to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>the
excess of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD>the Fair Market Value of the Common Stock on the date of exercise <I>over</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD>the exercise price of such stock appreciation right <I>multiplied by</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>the
number of stock appreciation rights exercised, will be delivered to the Grantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any person exercising a stock appreciation right
will make such representations and agreements and furnish such information as the Committee may, in its sole discretion, deem necessary
or desirable to effect or assure compliance by the Company on terms acceptable to the Company with the provisions of the Securities Act,
the Exchange Act and any other applicable legal requirements. If a Grantee so requests, Shares purchased may be issued in the name of
the Grantee and another jointly with the right of survivorship.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.4.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Repricing</U></B>.
Except as otherwise permitted by <U>Section&#8239;1.6.3</U>, reducing the exercise price of stock appreciation rights issued and outstanding
under the Plan, including through amendment, cancellation in exchange for the grant of a substitute Award or repurchase for cash or other
consideration (in each case that has the effect of reducing the exercise price), will require approval of First Hawaiian&rsquo;s stockholders.
The Company will not grant any stock appreciation rights with automatic reload features.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.5</B></FONT></TD><TD><B>Restricted Shares</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.5.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Grants</U></B><I>.
</I>The Committee may grant or offer for sale restricted shares in such amounts and subject to such terms and conditions as the Committee
may determine, subject to <U>Section&#8239;2.10</U>. Upon the delivery of such shares, the Grantee will have the rights of a stockholder
with respect to the restricted shares, subject to any other restrictions and conditions as the Committee may include in the applicable
Award Agreement. Each Grantee of an Award of restricted shares will be issued a Certificate in respect of such shares, unless the Committee
elects to use another system, such as book entries by the transfer agent, as evidencing ownership of such shares. In the event that a
Certificate is issued in respect of restricted shares, such Certificate may be registered in the name of the Grantee, and will, in addition
to such legends required by applicable securities laws, bear an appropriate legend referring to the terms, conditions, and restrictions
applicable to such Award, but will be held by the Company or its designated agent until the time the restrictions lapse.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.5.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Right
to Vote and Receive Dividends on Restricted Shares</U></B><I>. </I>Each Grantee of an Award of restricted shares will, during the period
of restriction, be the beneficial and record owner of such restricted shares and will have full voting rights with respect thereto. Unless
the Committee determines otherwise in an Award Agreement, during the period of restriction, all ordinary cash dividends or other ordinary
distributions paid upon any restricted share will be retained by the Company and will be paid to the relevant Grantee (without interest)
when the Award of restricted shares vests and will revert back to the Company if for any reason the restricted share upon which such dividends
or other distributions were paid reverts back to the Company (any extraordinary dividends or other extraordinary distributions will be
treated in accordance with <U>Section&#8239;1.6.3</U>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.6</B></FONT></TD><TD><B>Restricted Stock Units</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Committee may grant Awards of restricted stock
units in such amounts and subject to such terms and conditions as the Committee may determine, subject to <U>Section&#8239;2.10</U>. A
Grantee of a restricted stock unit will have only the rights of a general unsecured creditor of First Hawaiian, until delivery of Shares,
cash or other securities or property is made as specified in the applicable Award Agreement. On the delivery date specified in the Award
Agreement, the Grantee of each restricted stock unit not previously forfeited or terminated will receive one share of Common Stock, cash
or other securities or property equal in value to a share of Common Stock or a combination thereof, as specified by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.7</B></FONT></TD><TD><B>Dividend Equivalent Rights</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Committee may include in the Award Agreement
with respect to any Award a dividend equivalent right entitling the Grantee to receive amounts equal to all or any portion of the regular
cash dividends that would be paid on the Shares covered by such Award if such Shares had been delivered pursuant to such Award. The grantee
of a dividend equivalent right will have only the rights of a general unsecured creditor of First Hawaiian until payment of such amounts
is made as specified in the applicable Award Agreement. In the event such a provision is included in an Award Agreement, the Committee
will determine whether such payments will be made in cash, in Shares or in another form, whether they will be conditioned upon the exercise
of the Award to which they relate (subject to compliance with Section&#8239;409A of the Code), the time or times at which they will be
made, and such other terms and conditions as the Committee will deem appropriate; <U>provided</U> that in no event may such payments be
made unless and until the Award to which they relate vests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.8</B></FONT></TD><TD><B>Performance-Based Shares and Other Stock-Based or Cash-Based Awards</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.8.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Grant</U></B>.
The Committee may grant other types of equity-based, equity-related or cash-based Awards (including the grant or offer for sale of unrestricted
Shares, performance share awards, performance units settled in cash) (&ldquo;<B><U>Other Stock-Based or Cash-Based Awards</U></B>&rdquo;)
in such amounts and subject to such terms and conditions as the Committee may determine, subject to <U>Section&#8239;2.10</U>. The terms
and conditions set forth by the Committee in the applicable Award Agreement may relate to the achievement of Performance Goals, as determined
by the Committee at the time of grant. Such Awards may entail the transfer of actual Shares to Award recipients and may include Awards
designed to comply with or take advantage of the applicable local laws of jurisdictions other than the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.8.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Performance-Based
Awards</U></B>. Notwithstanding anything to the contrary herein, Other Stock-Based or Cash-Based Awards may, at the discretion of the
Committee, relate to the achievement of performance goals or Performance Criteria for an applicable performance period as determined by
the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Performance
Criteria</U></B>. &ldquo;<B>Performance Criteria</B>&rdquo; shall mean goals based on the achievement of one or more performance criteria
(either separately or in combination) with regard to First Hawaiian (or a Subsidiary, division, other operational unit or administrative
department of First Hawaiian) selected by the Committee in its discretion, including, without limitation: measures of efficiency (including
operating efficiency, productivity ratios or other similar measures); measures of achievement of expense targets, costs reductions or
general expense ratios; earnings per share; value creation targets; income or operating income measures; net income, before or after taxes;
return measures (including return on capital, total capital, tangible capital equity, net assets or total shareholder return); increase
in the Fair Market Value of Common Stock; credit quality; loan growth; deposit growth; loan portfolio performance; tangible book value
or tangible book value growth and strategic business objectives, consisting of one or more objectives based on meeting specified cost
targets; business expansion goals and goals relating to joint venture collaborations (including objective project milestones).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as otherwise expressly provided, all financial
terms are used as defined under Generally Accepted Accounting Principles (&ldquo;<B><U>GAAP</U></B>&rdquo;) or such other objective principles,
as may be designated by the Committee. To the extent financial terms are defined under GAAP, all determinations will be made in accordance
with GAAP, as applied by the Company in the preparation of its periodic reports to stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, any Performance Criteria may be measured
in absolute terms or relative to historic performance or the performance of other companies or an index. The Committee may (i)&#8239;designate
additional business criteria on which the Performance Criteria may be based or (ii)&#8239;adjust, modify or amend the aforementioned business
criteria. The Performance Criteria may incorporate provisions for disregarding (or adjusting for) changes in accounting methods, corporate
transaction (including, without limitation, dispositions and acquisitions) and other similar type events or circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><U>Committee
Determinations</U></B>. Following the completion of each performance period, the Committee will have the sole discretion to determine
whether the applicable Performance Goals have been met with respect to a given Grantee and ascertain the amount of the applicable Performance-Based
Award. The Committee, in its sole discretion, may make adjustments to the Performance Goals applicable to Performance-Based Awards and
to the amounts payable in respect of the applicable Performance Goals, to the extent consistent with the terms of the applicable Award
Agreement. The amount of the Performance-Based Award determined by the Committee for a performance period will be paid to the Grantee
at such time as determined by the Committee in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.9</B></FONT></TD><TD><B>Repayment if Conditions Not Met</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Committee determines that all terms and
conditions of the Plan and a Grantee&rsquo;s Award Agreement were not satisfied, and that the failure to satisfy such terms and conditions
is material, then the Grantee will be obligated to pay the Company immediately upon demand therefor, (a)&#8239;with respect to a stock
option and a stock appreciation right, an amount equal to the excess of the Fair Market Value (determined at the time of exercise) of
the Shares that were delivered in respect of such exercised stock option or stock appreciation right, as applicable, over the exercise
price paid therefor, (b)&#8239;with respect to restricted shares, an amount equal to the Fair Market Value (determined at the time such
shares became vested) of such restricted shares and (c)&#8239;with respect to restricted stock units, an amount equal to the Fair Market
Value (determined at the time of delivery) of the Shares delivered with respect to the applicable delivery date, in each case with respect
to clauses&#8239;(a), (b)&#8239;and (c)&#8239;of this <U>Section&#8239;2.9</U>, without reduction for any amount applied to satisfy withholding
tax or other obligations in respect of such Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2.10</B></TD><TD STYLE="text-align: justify"><B>Minimum Vesting</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All Awards shall be subject to a minimum vesting
schedule of at least twelve (12) months following the date of grant of the Award, <U>provided</U>&#8239;<U>that</U> vesting may accelerate in connection
with death, retirement, a Change in Control or involuntary termination. Notwithstanding the foregoing, up to 5% of the Shares available
for grant under the Plan may be granted with a minimum vesting schedule that is shorter than that mandated in this <U>Section&#8239;2.10</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>Article&#8239;III</B></FONT><BR>
<B>MISCELLANEOUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.1</B></FONT></TD><TD><B>Amendment of the Plan</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Unless
otherwise provided in the Plan or in an Award Agreement, the Board may at any time and from time to time suspend, discontinue, revise
or amend the Plan in any respect whatsoever but, subject to <U>Sections&#8239;1.3</U>, <U>1.6.3</U> and <U>3.7</U>, no such amendment may
materially adversely impair the rights of the Grantee of any Award without the Grantee&rsquo;s consent. Subject to <U>Sections&#8239;1.3</U>,
<U>1.6.3</U> and <U>3.7</U>, an Award Agreement may not be amended to materially adversely impair the rights of a Grantee without the
Grantee&rsquo;s consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Unless
otherwise determined by the Board, stockholder approval of any suspension, discontinuance, revision or amendment will be obtained only
to the extent necessary to comply with any applicable laws, regulations or rules&#8239;of a securities exchange or self-regulatory agency;
<U>provided</U>, <U>however</U>, if and to the extent the Board determines it is appropriate for the Plan to comply with the provisions
of Section&#8239;422 of the Code, no amendment that would require stockholder approval under Section&#8239;422 of the Code will be effective
without the approval of First Hawaiian&rsquo;s stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.2</B></FONT></TD><TD><B>Tax Withholding</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Grantees will be solely responsible for any applicable
taxes (including, without limitation, income and excise taxes) and penalties, and any interest that accrues thereon, that they incur in
connection with the receipt, vesting or exercise of any Award. As a condition to the delivery of any Shares, cash or other securities
or property pursuant to any Award or the lifting or lapse of restrictions on any Award, or in connection with any other event that gives
rise to a federal or other governmental tax withholding obligation on the part of the Company relating to an Award (including, without
limitation, the Federal Insurance Contributions Act (FICA) tax):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>the
Company may deduct or withhold (or cause to be deducted or withheld) from any payment or distribution to a Grantee whether or not pursuant
to the Plan (including Shares otherwise deliverable);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>the
Committee will be entitled to require that the Grantee remit cash to the Company (through payroll deduction or otherwise); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>the
Company may enter into any other suitable arrangements to withhold, in each case in an amount not to exceed in the opinion of the Company
the minimum amounts of such taxes required by law to be withheld (or, if provided in an Award Agreement, such other rate that will not
cause an adverse accounting consequence or cost).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.3</B></FONT></TD><TD><B>Required Consents and Legends</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>If
the Committee at any time determines that any Consent (as hereinafter defined) is necessary or desirable as a condition of, or in connection
with, the granting of any Award, the delivery of Shares or the delivery of any cash, securities or other property under the Plan, or the
taking of any other action thereunder (each such action, a &ldquo;<B><U>Plan Action</U></B>&rdquo;), then, subject to <U>Section&#8239;3.15</U>,
such Plan Action will not be taken, in whole or in part, unless and until such Consent will have been effected or obtained to the full
satisfaction of the Committee. The Committee may direct that any Certificate evidencing Shares delivered pursuant to the Plan will bear
a legend setting forth such restrictions on transferability as the Committee may determine to be necessary or desirable, and may advise
the transfer agent to place a stop transfer order against any legended shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
term &ldquo;<B><U>Consent</U></B>&rdquo; as used in this <U>Article&#8239;III</U> with respect to any Plan Action includes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
and all listings, registrations or qualifications in respect thereof upon any securities exchange or under any federal, state or local
law, or law, rule&#8239;or regulation, of a jurisdiction outside the United States;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
and all written agreements and representations by the Grantee with respect to the disposition of Shares, or with respect to any other
matter, which the Committee may deem necessary or desirable to comply with the terms of any such listing, registration or qualification
or to obtain an exemption from the requirement that any such listing, qualification or registration be made;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
and all other consents, clearances and approvals in respect of a Plan Action by any governmental or other regulatory body or any stock
exchange or self-regulatory agency;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
and all consents by the Grantee to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD>the Company&rsquo;s supplying to any third-party recordkeeper of the Plan such personal information as the Committee deems advisable
to administer the Plan;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD>the Company&rsquo;s deducting amounts from the Grantee&rsquo;s wages, or another arrangement satisfactory to the Committee, to reimburse
the Company for advances made on the Grantee&rsquo;s behalf to satisfy certain withholding and other tax obligations in connection with
an Award;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD>the Company&rsquo;s imposing sales and transfer procedures and restrictions and hedging restrictions on Shares delivered under the
Plan; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
and all consents or authorizations required to comply with, or required to be obtained under, applicable local law or otherwise required
by the Committee. Nothing herein will require the Company to list, register or qualify the Shares on any securities exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.4</B></FONT></TD><TD><B>Right of Offset</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will have the right to offset against
its obligation to deliver Shares (or other property or cash) under the Plan or any Award Agreement any outstanding amounts (including,
without limitation, travel and entertainment or advance account balances, loans, repayment obligations under any Awards, or amounts repayable
to the Company pursuant to tax equalization, housing, automobile or other employee programs) that the Grantee then owes to the Company
and any amounts the Committee otherwise deems appropriate pursuant to any tax equalization policy or agreement. Notwithstanding the foregoing,
if an Award provides for the deferral of compensation within the meaning of Section&#8239;409A of the Code, the Committee will have no
right to offset against its obligation to deliver Shares (or other property or cash) under the Plan or any Award Agreement if such offset
could subject the Grantee to the additional tax imposed under Section&#8239;409A of the Code in respect of an outstanding Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.5</B></FONT></TD><TD><B>Nonassignability; No Hedging</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise provided in an Award Agreement,
no Award (or any rights and obligations thereunder) granted to any person under the Plan may be sold, exchanged, transferred, assigned,
pledged, hypothecated or otherwise disposed of or hedged, in any manner (including through the use of any cash-settled instrument), whether
voluntarily or involuntarily and whether by operation of law or otherwise, other than by will or by the laws of descent and distribution,
and all such Awards (and any rights thereunder) will be exercisable during the life of the Grantee only by the Grantee or the Grantee&rsquo;s
legal representative. Notwithstanding the foregoing, the Committee may permit, under such terms and conditions that it deems appropriate
in its sole discretion, a Grantee to transfer any Award to any person or entity that the Committee so determines; <U>provided</U>, <U>however</U>,
under no circumstances will a Grantee be permitted to transfer an Award to a third-party financial institution without prior stockholder
approval. Any sale, exchange, transfer, assignment, pledge, hypothecation or other disposition in violation of the provisions of this
<U>Section&#8239;3.5</U> will be null and void and any Award which is hedged in any manner will immediately be forfeited. All of the terms
and conditions of the Plan and the Award Agreements will be binding upon any permitted successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.6</B></FONT></TD><TD><B>Change in Control</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.6.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Unless
the Committee determines otherwise or as otherwise provided in the applicable Award Agreement, if a Grantee&rsquo;s Employment is terminated
by the Company or any successor entity thereto without Cause, or the Grantee resigns his or her Employment for Good Reason, in either
case, on or within two (2)&#8239;years after a Change in Control, (i)&#8239;each Award granted to such Grantee prior to such Change in Control
will become fully vested (including the lapsing of all restrictions and conditions) and, as applicable, exercisable, (ii)&#8239;any outstanding
Performance-Based Awards will be deemed earned at the greater of the target level and the actual performance level at the date of the
Change in Control with respect to all open performance periods and will cease to be subject to any further performance conditions but
will continue to be subject to time-based vesting following the Change in Control in accordance with the original performance period and
(iii)&#8239;any Shares deliverable pursuant to restricted stock units will be delivered promptly (but no later than 15&#8239;days) following
such Grantee&rsquo;s termination of Employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.6.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>In
the event of a Change in Control, a Grantee&rsquo;s Award will be treated, to the extent determined by the Committee to be permitted under
Section&#8239;409A, in accordance with one or more of the following methods as determined by the Committee in its sole discretion: (i)&#8239;settle
such Awards for an amount (as determined in the sole discretion of the Committee) of cash or securities, where in the case of stock options
and stock appreciation rights, the value of such amount, if any, will be equal to the in-the-money spread value (if any) of such awards;
(ii)&#8239;provide for the assumption of or the issuance of substitute awards that will substantially preserve the otherwise applicable
terms of any affected Awards previously granted under the Plan, as determined by the Committee in its sole discretion; (iii)&#8239;modify
the terms of such awards to add events, conditions or circumstances (including termination of Employment within a specified period after
a Change in Control) upon which the vesting of such Awards or lapse of restrictions thereon will accelerate; (iv)&#8239;deem any performance
conditions satisfied at target, maximum or actual performance through closing or provide for the performance conditions to continue (as
is or as adjusted by the Committee) after closing; or (v)&#8239;provide that for a period of at least 20&#8239;days prior to the Change
in Control, any stock options or stock appreciation rights that would not otherwise become exercisable prior to the Change in Control
will be exercisable as to all Shares subject thereto (but any such exercise will be contingent upon and subject to the occurrence of the
Change in Control and if the Change in Control does not take place within a specified period after giving such notice for any reason whatsoever,
the exercise will be null and void) and that any stock options or stock appreciation rights not exercised prior to the consummation of
the Change in Control will terminate and be of no further force and effect as of the consummation of the Change in Control. In the event
that the consideration paid in the Change in Control includes contingent value rights, earnout or indemnity payments or similar payments,
then the Committee will determine if Awards settled under clause (i)&#8239;above are (a)&#8239;valued at closing taking into account such
contingent consideration (with the value determined by the Committee in its sole discretion) or (b)&#8239;entitled to a share of such contingent
consideration. For the avoidance of doubt, in the event of a Change in Control where all stock options and stock appreciation rights are
settled for an amount (as determined in the sole discretion of the Committee) of cash or securities, the Committee may, in its sole discretion,
terminate any stock option or stock appreciation right for which the exercise price is equal to or exceeds the per share value of the
consideration to be paid in the Change in Control transaction without payment of consideration therefor. Similar actions to those specified
in this <U>Section&#8239;3.6.2</U>&#8239;may be taken in the event of a merger or other corporate reorganization that does not constitute
a Change in Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.7</B></FONT></TD><TD><B>No Continued Employment or Engagement; Right of Discharge Reserved</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Neither the adoption of the Plan nor the grant
of any Award (or any provision in the Plan or Award Agreement) will confer upon any Grantee any right to continued Employment, or other
engagement, with the Company, nor will it interfere in any way with the right of the Company to terminate, or alter the terms and conditions
of, such Employment or other engagement at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.8</B></FONT></TD><TD><B>Nature of Payments</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.8.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Any
and all grants of Awards and deliveries of Common Stock, cash, securities or other property under the Plan will be in consideration of
services performed or to be performed for the Company by the Grantee. Awards under the Plan may, in the discretion of the Committee, be
made in substitution in whole or in part for cash or other compensation otherwise payable to a Grantee. Only whole Shares will be delivered
under the Plan. Awards will, to the extent reasonably practicable, be aggregated in order to eliminate any fractional shares. Fractional
shares may, in the discretion of the Committee, be forfeited or be settled in cash or otherwise as the Committee may determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.8.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>All
such grants and deliveries of Shares, cash, securities or other property under the Plan will constitute a special discretionary incentive
payment to the Grantee, will not entitle the Grantee to the grant of any future Awards and will not be required to be taken into account
in computing the amount of salary or compensation of the Grantee for the purpose of determining any contributions to or any benefits under
any pension, retirement, profit-sharing, bonus, life insurance, severance or other benefit plan of the Company or under any agreement
with the Grantee, unless the Company specifically provides otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.9</B></FONT></TD><TD><B>Non-Uniform Determinations</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.9.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
Committee&rsquo;s determinations under the Plan and Award Agreements need not be uniform and any such determinations may be made by it
selectively among persons who receive, or are eligible to receive, Awards under the Plan (whether or not such persons are similarly situated).
Without limiting the generality of the foregoing, the Committee will be entitled, among other things, to make non-uniform and selective
determinations under Award Agreements, and to enter into non-uniform and selective Award Agreements, as to (a)&#8239;the persons to receive
Awards, (b)&#8239;the terms and provisions of Awards and (c)&#8239;whether a Grantee&rsquo;s Employment has been terminated for purposes
of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.9.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>To
the extent the Committee deems it necessary, appropriate or desirable to comply with foreign law or practices and to further the purposes
of the Plan, the Committee may, in its sole discretion and without amending the Plan, (a)&#8239;establish special rules&#8239;applicable
to Awards to Grantees who are foreign nationals, are employed outside the United States or both and grant Awards (or amend existing Awards)
in accordance with those rules&#8239;and (b)&#8239;cause First Hawaiian to enter into an agreement with any local Subsidiary pursuant to
which such Subsidiary will reimburse the Company for the cost of such equity incentives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.10</B></FONT></TD><TD><B>Other Payments or Awards</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Nothing contained in the Plan will be deemed in
any way to limit or restrict the Company from making any award or payment to any person under any other plan, arrangement or understanding,
whether now existing or hereafter in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.11</B></FONT></TD><TD><B>Plan Headings</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The headings in the Plan are for the purpose of
convenience only and are not intended to define or limit the construction of the provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.12</B></FONT></TD><TD><B>Termination of Plan</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Board reserves the right to terminate the Plan
at any time; <U>provided</U>, <U>however</U>, that in any case, the Plan will terminate on the day before the tenth anniversary of the
Effective Date, and <U>provided</U>, <U>further</U>, that all Awards made under the Plan before its termination will remain in effect
until such Awards have been satisfied or terminated in accordance with the terms and provisions of the Plan and the applicable Award Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.13</B></FONT></TD><TD><B>Clawback/Recapture Policy</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Awards under the Plan will be subject to any clawback
or recapture policy that the Company may adopt from time to time (including, without limitation, the First Hawaiian,&#8239;Inc. Amended
and Restated Clawback Policy and the First Hawaiian,&#8239;Inc. Clawback Policy for the Mandatory Recoupment of Erroneously Awarded Incentive
Compensation) to the extent provided in such policy and, in accordance with such policy, may be subject to the requirement that the Awards
be repaid to the Company after they have been distributed to the Grantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.14</B></FONT></TD><TD><B>FDIC Limits on Golden Parachute Payments</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding anything to the contrary, the Company
will not be required to make any payment or grant any Award under the Plan or any Award Agreement that would otherwise be a prohibited
golden parachute payment within the meaning of Section&#8239;18(k)&#8239;of the Federal Deposit Insurance Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.15</B></FONT></TD><TD><B>Section&#8239;409A</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.15.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>All
Awards made under the Plan that are intended to be &ldquo;deferred compensation&rdquo; subject to Section&#8239;409A will be interpreted,
administered and construed to comply with Section&#8239;409A, and all Awards made under the Plan that are intended to be exempt from Section&#8239;409A
will be interpreted, administered and construed to comply with and preserve such exemption. The Board and the Committee will have full
authority to give effect to the intent of the foregoing sentence. To the extent necessary to give effect to this intent, in the case of
any conflict or potential inconsistency between the Plan and a provision of any Award or Award Agreement with respect to an Award, the
Plan will govern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.15.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Without
limiting the generality of <U>Section&#8239;3.15.1</U>, with respect to any Award made under the Plan that is &ldquo;deferred compensation&rdquo;
subject to Section&#8239;409A in each case to the extent required to comply with 409A:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
payment due upon a Grantee&rsquo;s termination of Employment will be paid only upon such Grantee&rsquo;s separation from service from
the Company within the meaning of Section&#8239;409A;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
payment due upon a Change in Control of the Company will be paid only if such Change in Control constitutes a &ldquo;change in ownership&rdquo;
or &ldquo;change in effective control&rdquo; within the meaning of Section&#8239;409A, and in the event that such Change in Control does
not constitute a &ldquo;change in the ownership&rdquo; or &ldquo;change in the effective control&rdquo; within the meaning of Section&#8239;409A,
such Award will vest upon the Change in Control and any payment will be delayed until the first compliant date under Section&#8239;409A;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>if
the Grantee is a &ldquo;specified employee&rdquo; within the meaning of Section&#8239;409A, any payment to be made with respect to such
Award in connection with the Grantee&rsquo;s separation from service from the Company within the meaning of Section&#8239;409A (and any
other payment that would be subject to the limitations in Section&#8239;409A(a)(2)(B)&#8239;of the Code) will be delayed until six months
after the Grantee&rsquo;s separation from service (or earlier death) in accordance with the requirements of Section&#8239;409A;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
other securities, other Awards or other property that the Company may deliver in lieu of Shares in respect of an Award will not have the
effect of deferring delivery or payment beyond the date on which such delivery or payment would occur with respect to the Shares that
would otherwise have been deliverable (unless the Committee elects a later date for this purpose in accordance with the requirements of
Section&#8239;409A);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>with
respect to any required Consent described in <U>Section&#8239;3.3</U> or the applicable Award Agreement, if such Consent has not been effected
or obtained as of the latest date provided by such Award Agreement for payment in respect of such Award and further delay of payment is
not permitted in accordance with the requirements of Section&#8239;409A, such Award or portion thereof, as applicable, will be forfeited
and terminate notwithstanding any prior earning or vesting;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>if
the Award includes a &ldquo;series of installment payments&rdquo; (within the meaning of Section&#8239;1.409A-2(b)(2)(iii)&#8239;of the
Treasury Regulations), the Grantee&rsquo;s right to the series of installment payments will be treated as a right to a series of separate
payments and not as a right to a single payment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>if
the Award includes &ldquo;dividend equivalents&rdquo; (within the meaning of Section&#8239;1.409A-3(e)&#8239;of the Treasury Regulations),
the Grantee&rsquo;s right to the dividend equivalents will be treated separately from the right to other amounts under the Award; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>for
purposes of determining whether the Grantee has experienced a separation from service from the Company within the meaning of Section&#8239;409A,
&ldquo;subsidiary&rdquo; will mean a corporation or other entity in a chain of corporations or other entities in which each corporation
or other entity, starting with First Hawaiian, has a controlling interest in another corporation or other entity in the chain, ending
with such corporation or other entity. For purposes of the preceding sentence, the term &ldquo;controlling interest&rdquo; has the same
meaning as provided in Section&#8239;1.414(c)-2(b)(2)(i)&#8239;of the Treasury Regulations, <U>provided</U>&#8239;<U>that</U> the language &ldquo;at
least 20 percent&rdquo; is used instead of &ldquo;at least 80 percent&rdquo; each place it appears in Section&#8239;1.414(c)-2(b)(2)(i)&#8239;of
the Treasury Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.16</B></FONT></TD><TD><B>Governing Law</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THE PLAN AND ALL AWARDS MADE AND ACTIONS TAKEN
THEREUNDER WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF HAWAII, WITHOUT REFERENCE TO PRINCIPLES OF CONFLICT
OF LAWS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.17</B></FONT></TD><TD><B>Disputes; Choice of Forum</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.17.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
Company and each Grantee, as a condition to such Grantee&rsquo;s participation in the Plan, hereby irrevocably submit to the exclusive
jurisdiction of any state or federal court located in the County of Honolulu, State of Hawaii, over any suit, action or proceeding arising
out of or relating to or concerning the Plan or, to the extent not otherwise specified in any individual agreement between the Company
and the Grantee, any aspect of the Grantee&rsquo;s Employment with the Company or the termination of that Employment. The Company and
each Grantee, as a condition to such Grantee&rsquo;s participation in the Plan, acknowledge that the forum designated by this <U>Section&#8239;3.17.1</U>
has a reasonable relation to the Plan and to the relationship between such Grantee and the Company. Notwithstanding the foregoing, nothing
herein will preclude the Company from bringing any action or proceeding in any other court for the purpose of enforcing the provisions
of this <U>Section&#8239;3.17.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.17.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
agreement by the Company and each Grantee as to forum is independent of the law that may be applied in the action, and the Company and
each Grantee, as a condition to such Grantee&rsquo;s participation in the Plan, (i)&#8239;agree to such forum even if the forum may under
applicable law choose to apply non-forum law, (ii)&#8239;hereby waive, to the fullest extent permitted by applicable law, any objection
which the Company or such Grantee now or hereafter may have to personal jurisdiction or to the laying of venue of any such suit, action
or proceeding in any court referred to in <U>Section&#8239;3.17.1</U>, (iii)&#8239;undertake not to commence any action arising out of or
relating to or concerning the Plan in any forum other than the forum described in this <U>Section&#8239;3.17</U> and (iv)&#8239;agree that,
to the fullest extent permitted by applicable law, a final and non-appealable judgment in any such suit, action or proceeding in any such
court will be conclusive and binding upon the Company and each Grantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.17.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Each
Grantee, as a condition to such Grantee&rsquo;s participation in the Plan, hereby irrevocably appoints the General Counsel of the Company
as such Grantee&rsquo;s agent for service of process in connection with any action, suit or proceeding arising out of or relating to or
concerning the Plan, who will promptly advise such Grantee of any such service of process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.17.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Each
Grantee, as a condition to such Grantee&rsquo;s participation in the Plan, agrees to keep confidential the existence of, and any information
concerning, a dispute, controversy or claim described in <U>Section&#8239;3.19</U>, except that a Grantee may disclose information concerning
such dispute, controversy or claim to the court that is considering such dispute, controversy or claim or to such Grantee&rsquo;s legal
counsel (provided that such counsel agrees not to disclose any such information other than as necessary to the prosecution or defense
of the dispute, controversy or claim). In addition, a Grantee may provide information to, file a charge with or participate in an investigation
conducted by any governmental entity, and a Grantee does not need the Company&rsquo;s permission to do so. Furthermore, a Grantee is not
required to notify the Company of a request for information from any governmental entity or of such Grantee&rsquo;s decision to file a
charge with or participate in an investigation conducted by any governmental entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.18</B></FONT></TD><TD><B>Waiver of Jury Trial</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">EACH GRANTEE WAIVES ANY RIGHT IT MAY&#8239;HAVE
TO TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THE PLAN.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.19</B></FONT></TD><TD><B>Waiver of Claims</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Grantee of an Award recognizes and agrees
that before being selected by the Committee to receive an Award the Grantee has no right to any benefits under the Plan. Accordingly,
in consideration of the Grantee&rsquo;s receipt of any Award hereunder, the Grantee expressly waives any right to contest the amount of
any Award, the terms of any Award Agreement, any determination, action or omission hereunder or under any Award Agreement by the Committee,
the Company or the Board, or any amendment to the Plan or any Award Agreement (other than an amendment to the Plan or an Award Agreement
to which his or her consent is expressly required by the express terms of an Award Agreement). Nothing contained in the Plan, and no action
taken pursuant to its provisions, will create or be construed to create a trust of any kind or a fiduciary relationship between the Company
and any Grantee. The Plan is not intended to be subject to the Employee Retirement Income Security Act of 1974 (ERISA), as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.20</B></FONT></TD><TD><B>Severability; Entire Agreement</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If any provision of the Plan or any Award Agreement
is finally held to be invalid, illegal or unenforceable (whether in whole or in part), such provision will be deemed modified to the extent,
but only to the extent, of such invalidity, illegality or unenforceability and the remaining provisions will not be affected thereby;
<U>provided</U>&#8239;<U>that</U> if any of such provision is finally held to be invalid, illegal or unenforceable because it exceeds the maximum scope
determined to be acceptable to permit such provision to be enforceable, such provision will be deemed to be modified to the minimum extent
necessary to modify such scope in order to make such provision enforceable hereunder. The Plan and any Award Agreements contain the entire
agreement of the parties with respect to the subject matter thereof and supersede all prior agreements, promises, covenants, arrangements,
communications, representations and warranties between them, whether written or oral, with respect to the subject matter thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.21</B></FONT></TD><TD><B>No Liability with Respect to Tax Qualification or Adverse Tax Treatment</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding anything to the contrary contained
herein, in no event will the Company be liable to a Grantee on account of an Award&rsquo;s failure to (a)&#8239;qualify for favorable United
States or foreign tax treatment or (b)&#8239;avoid adverse tax treatment under United States or foreign law, including, without limitation,
Section&#8239;409A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.22</B></FONT></TD><TD><B>No Third-Party Beneficiaries</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as expressly provided in an Award Agreement,
neither the Plan nor any Award Agreement will confer on any person other than the Company and the Grantee of any Award any rights or remedies
thereunder. The exculpation and indemnification provisions of <U>Section&#8239;1.3.4</U> will inure to the benefit of a Covered Person&rsquo;s
estate and beneficiaries and legatees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.23</B></FONT></TD><TD><B>Successors and Assigns of the Company</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The terms of the Plan will be binding upon and
inure to the benefit of the Company and any successor entity, including as contemplated by <U>Section&#8239;3.6</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.24</B></FONT></TD><TD><B>Date of Adoption and Approval of Stockholders</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Plan was adopted by the Board on February&#8239;26,
2025 and was approved by First Hawaiian&rsquo;s stockholders on April&#8239;22, 2025 (the &ldquo;<B><U>Effective Date</U></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>tm2515344d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">[Letterhead of Sullivan &amp; Cromwell LLP]</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-right: 1in; margin-bottom: 0pt">May 19, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">First Hawaiian, Inc.,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">999 Bishop Street, 29th Floor,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Honolulu, Hawaii 96813.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 1in">In connection with the
registration under the Securities Act of 1933 (the &ldquo;Act&rdquo;) of 4,750,000 shares (the &ldquo;Securities&rdquo;) of Common
Stock, par value $0.01 per share, of First Hawaiian, Inc., a Delaware corporation (the &ldquo;Company&rdquo;), issuable under the
First Hawaiian, Inc. 2025 Omnibus Incentive Compensation Plan (the &ldquo;Plan&rdquo;), we, as your counsel, have examined such
corporate records, certificates and other documents, and such questions of law, as we have considered necessary or appropriate for
the purposes of this opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 1in">Upon the basis of such examination, it is our opinion
that when the registration statement relating to the Securities (the &ldquo;Registration Statement&rdquo;) has become effective under
the Act, the terms of the sale of the Securities have been duly established in conformity with the Company&rsquo;s amended and restated
certificate of incorporation and the Plan, and the Securities have been duly issued and sold as contemplated by the Registration Statement
and the Plan, the Securities will be validly issued, fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 1in">In rendering the foregoing opinion, we are not passing
upon, and assume no responsibility for, any disclosure in any registration statement or any related prospectus or other offering material
relating to the offer and sale of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 1in">The foregoing opinion is limited to the Federal laws
of the United States and the General Corporation Law of the State of Delaware, and we are expressing no opinion as to the effect of the
laws of any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 1in">We have relied as to certain factual matters on information
obtained from public officials, officers of the Company and other sources believed by us to be responsible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%">First Hawaiian, Inc.</TD><TD STYLE="text-align: right; width: 50%">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">We hereby consent to the filing of this opinion as
an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose
consent is required under Section 7 of the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%; text-align: left"></TD><TD STYLE="text-align: justify; width: 50%">Very&#8239;truly yours,</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left"></TD><TD STYLE="text-align: justify">/s/&#8239;Sullivan &amp; Cromwell LLP</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>



<P STYLE="margin: 0"></P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>tm2515344d1_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;23.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Consent
of Independent Registered Public Accounting Firm</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">We consent to the incorporation by reference in
this Registration Statement on Form&nbsp;S-8 of our reports dated February&nbsp;28, 2025 relating to the financial statements of First
Hawaiian,&nbsp;Inc. (&#8220;the Company&#8221;) and the effectiveness of the Company&#8217;s internal control over financial reporting,
appearing in the Annual Report on Form&nbsp;10-K of the Company for the year ended December&nbsp;31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Deloitte&nbsp;&amp; Touche LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Honolulu, Hawaii</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">May&nbsp;19, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="margin: 0"></P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>5
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<DESCRIPTION>EX-FILING FEES
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        <tr>
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              <b>Calculation of Filing Fee Tables</b>
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                <ix:nonNumeric name="ffd:FormTp" contextRef="rc" id="ixv-146">S-8</ix:nonNumeric>
              </b>
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                <ix:nonNumeric name="dei:EntityRegistrantName" contextRef="rc" id="ixv-147">FIRST HAWAIIAN, INC.</ix:nonNumeric>
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      <table style="float: center; width: 100%; text-align: left;  ">
        <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px">
          <th style="vertical-align: bottom; text-align: center; width: 90%; word-wrap: break-word">
            <p style="margin: 0pt; text-align: center;">
              <b>Table 1: Newly Registered Securities</b>
            </p>
          </th>
        </tr>
      </table>
      <table style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; float: center; width: 90%; text-align: center;  border: 1px solid black; margin-left: auto; margin-right: auto;">
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            <!-- BLANK -->
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          <th style="width: 10%;">
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              <b>Security Type</b>
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          </th>
          <th style="width: 10%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Security Class Title </b>
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          </th>
          <th style="width: 10%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Fee Calculation Rule</b>
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          <th style="width: 10%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Amount Registered</b>
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          <th style="width: 15%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Proposed Maximum Offering Price Per Unit</b>
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          <th style="width: 15%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Maximum Aggregate Offering Price</b>
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          <th style="width: 3%;">
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              <b>Fee Rate</b>
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          <th style="width: 15%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Amount of Registration Fee</b>
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		1
	</td>
          <td style="text-align: left;">
            <ix:nonNumeric name="ffd:OfferingSctyTp" contextRef="offrl_1" id="ixv-148">Equity</ix:nonNumeric>
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          <td style="text-align: left;">
            <ix:nonNumeric name="ffd:OfferingSctyTitl" contextRef="offrl_1" id="ixv-149">Common Stock, par value $0.01 per share, under the First Hawaiian, Inc. 2025 Omnibus Incentive Compensation Plan</ix:nonNumeric>
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          <td style="text-align: center;">
            <ix:nonNumeric name="ffd:FeesOthrRuleFlg" contextRef="offrl_1" format="ixt:booleantrue" id="ixv-150">Other</ix:nonNumeric>
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            <ix:nonFraction name="ffd:AmtSctiesRegd" unitRef="Shares" decimals="0" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-151">4,750,000</ix:nonFraction>
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            <span>$</span>
            <ix:nonFraction name="ffd:MaxOfferingPricPerScty" unitRef="USD" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-152">24.5125</ix:nonFraction>
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            <span>$</span>
            <ix:nonFraction name="ffd:MaxAggtOfferingPric" unitRef="USD" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-153">116,434,375.00</ix:nonFraction>
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            <ix:nonFraction name="ffd:FeeRate" unitRef="pure" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-154">0.0001531</ix:nonFraction>
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            <span>$</span>
            <ix:nonFraction name="ffd:FeeAmt" unitRef="USD" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-155">17,826.10</ix:nonFraction>
          </td>
        </tr>
        <tr>
          <td colspan="5" style="vertical-align: top">
            <p style="margin: 0pt; text-align: right">Total Offering Amounts:</p>
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td style="vertical-align: top; width: 16%;">
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              <span>$</span>
              <ix:nonFraction name="ffd:TtlOfferingAmt" contextRef="rc" decimals="INF" format="ixt:numdotdecimal" unitRef="USD" id="ixv-156">116,434,375.00</ix:nonFraction>
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            <!-- BLANK -->
          </td>
          <td style="vertical-align: top; border-bottom: 1px black; width: 16%;">
            <p id="TotalFeeAmt" style="margin: 0pt; text-align: right">
              <span>$</span>
              <ix:nonFraction name="ffd:TtlFeeAmt" contextRef="rc" decimals="INF" format="ixt:numdotdecimal" unitRef="USD" id="ixv-157">17,826.10</ix:nonFraction>
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          </td>
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        <tr>
          <td colspan="5" style="vertical-align: top">
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					Total Fee Offsets:
				</p>
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td>
            <!-- BLANK -->
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              <span>$</span>
              <ix:nonFraction name="ffd:TtlOffsetAmt" contextRef="rc" decimals="INF" format="ixt:numdotdecimal" unitRef="USD" id="ixv-158">0.00</ix:nonFraction>
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        <tr>
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					Net Fee Due:
				</p>
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td>
            <!-- BLANK -->
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            <p id="NetFeeAmt" style="margin: 0pt; text-align: right">
              <span>$</span>
              <ix:nonFraction name="ffd:NetFeeAmt" contextRef="rc" decimals="INF" format="ixt:numdotdecimal" unitRef="USD" id="ixv-159">17,826.10</ix:nonFraction>
            </p>
          </td>
        </tr>
      </table>
    </div>
    <div>
      <table style="width: 100%; text-indent: 0px;">
        <tbody>
          <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; vertical-align: top;">
            <td>
              <p style="margin:0pt;text-align:left; margin-bottom: 5px;">
                <b>Offering Note</b>
              </p>
            </td>
            <td/>
          </tr>
        </tbody>
      </table>
    </div>
    <div style="padding-bottom: 20px;">
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        <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; vertical-align: top;">
          <td style="width:10pt;">
            <p style="margin:0pt;text-align:left;">
              <sup style="vertical-align:top;line-height:120%;font-size:10px">1</sup>
            </p>
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            <ix:nonNumeric name="ffd:OfferingNote" escape="1" contextRef="offrl_1" id="ixv-160">Pursuant to Rule 416(a) under the Securities Act, the registration statement on Form S-8 to which this exhibit relates also covers an indeterminate number of additional shares of the common stock, par value $0.01 (the "Common Stock") of First Hawaiian, Inc. (the "Registrant"), which may become issuable under the 2025 Omnibus Incentive Compensation Plan (the "2025 Equity Plan") to prevent dilution resulting from adjustments as a result of stock dividends, stock splits, reverse stock splits and other anti-dilution provisions.

Amount Registered: Represents 4,750,000 shares of the Common Stock reserved for issuance under the 2025 Equity Plan. Shares subject to awards under the 2025 Equity Plan that subsequently expire unexercised or that are forfeited or settled in cash will be added to the share maximum available for issuance under the 2025 Equity Plan.

Proposed Maximum Offering Price Per Unit: Pursuant to Rule 457(c) and Rule 457(h) under the Securities Act, the offering price is estimated solely for the purpose of calculating the registration fee on the basis of $24.5125, which is the average of the high and low prices of the Common Stock on the NASDAQ Global Select Market on May 14, 2025.</ix:nonNumeric>
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Submission<br></strong></div></th>
<th class="th"><div>May 19, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissionLineItems', window );"><strong>Submission [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Central Index Key</a></td>
<td class="text">0000036377<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Registrant Name</a></td>
<td class="text">FIRST HAWAIIAN, INC.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FormTp', window );">Form Type</a></td>
<td class="text">S-8<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissnTp', window );">Submission Type</a></td>
<td class="text">S-8<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeExhibitTp', window );">Fee Exhibit Type</a></td>
<td class="text">EX-FILING FEES<span></span>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Offerings - Offering: 1<br></strong></div></th>
<th class="th">
<div>May 19, 2025 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeesOthrRuleFlg', window );">Other Rule</a></td>
<td class="text">true<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Common Stock, par value $0.01 per share, under the First Hawaiian, Inc. 2025 Omnibus Incentive Compensation Plan<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_AmtSctiesRegd', window );">Amount Registered | shares</a></td>
<td class="nump">4,750,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_MaxOfferingPricPerScty', window );">Proposed Maximum Offering Price per Unit</a></td>
<td class="nump">24.5125<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_MaxAggtOfferingPric', window );">Maximum Aggregate Offering Price</a></td>
<td class="nump">$ 116,434,375.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01531%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeAmt', window );">Amount of Registration Fee</a></td>
<td class="nump">$ 17,826.10<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">Pursuant to Rule 416(a) under the Securities Act, the registration statement on Form S-8 to which this exhibit relates also covers an indeterminate number of additional shares of the common stock, par value $0.01 (the "Common Stock") of First Hawaiian, Inc. (the "Registrant"), which may become issuable under the 2025 Omnibus Incentive Compensation Plan (the "2025 Equity Plan") to prevent dilution resulting from adjustments as a result of stock dividends, stock splits, reverse stock splits and other anti-dilution provisions.

Amount Registered: Represents 4,750,000 shares of the Common Stock reserved for issuance under the 2025 Equity Plan. Shares subject to awards under the 2025 Equity Plan that subsequently expire unexercised or that are forfeited or settled in cash will be added to the share maximum available for issuance under the 2025 Equity Plan.

Proposed Maximum Offering Price Per Unit: Pursuant to Rule 457(c) and Rule 457(h) under the Securities Act, the offering price is estimated solely for the purpose of calculating the registration fee on the basis of $24.5125, which is the average of the high and low prices of the Common Stock on the NASDAQ Global Select Market on May 14, 2025.<span></span>
</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of securities being registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total amount of registration fee (amount due after offsets).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The rate per dollar of fees that public companies and other issuers pay to register their securities with the Commission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Checkbox indicating whether filer is using a rule other than 457(a), 457(o), or 457(f) to calculate the registration fee due.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum aggregate offering price for the offering that is being registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum offering price per share/unit being registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The title of the class of securities being registered (for each class being registered).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Type of securities: "Asset-backed Securities", "ADRs/ADSs", "Debt", "Debt Convertible into Equity", "Equity", "Face Amount Certificates", "Limited Partnership Interests", "Mortgage Backed Securities", "Non-Convertible Debt", "Unallocated (Universal) Shelf", "Exchange Traded Vehicle Securities", "Other"</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
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<div>May 19, 2025 </div>
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