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OPERATING LEASES | 12 Months Ended
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Dec. 31, 2021
Leases, Operating [Abstract] |
OPERATING LEASES | 19. OPERATING LEASES We lease certain property and equipment with lease terms expiring through 2045. In some instances, a lease may contain renewal options for periods ranging from five to 15 years. All renewal options are likely to be exercised and therefore have been recognized as part of our right-of-use assets and lease liabilities in accordance with ASC 842, "Leases". Certain leases also contain variable payments that are primarily determined based on common area maintenance costs and Hawaii state tax rates. All leases are operating leases and we do not include any short-term leases in the calculation of the right-of-use assets and lease liabilities. The most significant assumption related to the Company’s application of ASC 842 was the discount rate assumption. As most of the Company’s lease agreements do not provide for an implicit interest rate, the Company uses the collateralized interest rate that the Company would have to pay to borrow over a similar term to estimate the Company’s lease liability. Total lease cost, cash flow information, weighted-average remaining lease term and weighted-average discount rate is summarized below for the periods indicated:
| Year Ended December 31, |  |
(Dollars in thousands) | 2021 |  | 2020 |  |
Lease cost: |  |  |  |  |
Operating lease cost | $ | 6,397 |  |  | $ | 6,621 |  |  |
Variable lease cost | 2,476 |  |  | 2,689 |  |  |
Less: sublease income | (78) |  |  | (15) |  |  |
Total lease cost | $ | 8,795 |  |  | 9,295 |  |  |
Other information: |  |  |  |  |
Operating cash flows from operating leases | $ | (6,533) |  |  | $ | (6,371) |  |  |
Weighted-average remaining lease term - operating leases | 11.91 years |  | 13.51 years |  |
Weighted-average discount rate - operating leases | 3.93 | % |  | 3.89 | % |  |
The following is a schedule of annual undiscounted cash flows for our operating leases and a reconciliation of those cash flows to the operating lease liabilities for the next five succeeding fiscal years and all years thereafter:
(Dollars in thousands) |  |  |  |  |
Year Ending December 31, | Undiscounted Cash Flows |  | Lease Liability Expense |  | Lease Liability Reduction
2022 | $ | 5,925 |  |  | $ | 1,497 |  |  | $ | 4,428 |
2023 | 5,183 |  |  | 1,343 |  |  | 3,840 |
2024 | 4,508 |  |  | 1,214 |  |  | 3,294 |
2025 | 4,195 |  |  | 1,088 |  |  | 3,107 |
2026 | 4,133 |  |  | 968 |  |  | 3,165 |
Thereafter | 27,375 |  |  | 4,478 |  |  | 22,897 |
Total | $ | 51,319 |  |  | $ | 10,588 |  |  | $ | 40,731 |
In addition, the Company, as lessor, leases certain properties that it owns. All of these leases are operating leases. The following represents lease income related to these leases that was recognized for the periods indicated:
| Year Ended December 31, |  |
(Dollars in thousands) | 2021 |  | 2020 |  |
Total rental income recognized | $ | 2,094 |  |  | 2,071 |  |  |
Based on the Company's leases as lessor as of December 31, 2021, estimated lease payments for the next five succeeding fiscal years and all years thereafter are as follows:
(Dollars in thousands) |
Year Ending December 31, |
2022 | $ | 2,105 |
2023 | 932 |
2024 | 432 |
2025 | 305 |
2026 | 152 |
Thereafter | 434 |
Total | $ | 4,360 |

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- Definition This element represents Operating Leases. + References No definition available. + Details
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Namespace Prefix: | cpf_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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- References No definition available. + Details
Name: | us-gaap_LeasesOperatingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration