Edgar Filing: HONBO CLAYTON K MD

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

HONBO CLAYTON K MD

2. Issuer Name and Ticker or Trading Symbol
CENTRAL PACIFIC FINANCIAL CORP [CPF]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

3109 HUELANI PL

3. Date of Earliest Transaction (Month/Day/Year)
07/05/2006

(Street)

HONOLULU, HI 96822

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	07/05/2006		J⁽¹⁾		870	D	$ 0 ⁽²⁾	1,235	D
Common Stock	07/05/2006		J⁽¹⁾		8,230	D	$ 0 ⁽²⁾	0	I	Clayton K Honbo Rev Liv Trst
Common Stock								7,920	I	Daniel K Honbo 1983 Trust
Common Stock								4,106	I	Daniel K Honbo Rev Liv Trst
Common Stock								25,714	I	Gregory Y Honbo Rev Liv Trst
Common Stock								400	I	IRA account
Common Stock								7,920	I	Lauren M Honbo 1983 Trust
Common Stock								4,106	I	Lauren M Honbo Rev Liv Trst
Common Stock	08/08/2006		J⁽¹⁾		347,207	D	$ 0 ⁽²⁾	0	I	Lynette K Honbo Rev Liv Trst
Common Stock	07/05/2006		J⁽³⁾		8,230	A	$ 0 ⁽⁴⁾	8,230	I	Pu'ahu'ula Management LLC
Common Stock	07/05/2006		J⁽⁵⁾		870	A	$ 0 ⁽⁶⁾	9,100	I	Pu'ahu'ula Management LLC
Common Stock	08/08/2006		J⁽⁷⁾		347,207	A	$ 0 ⁽⁸⁾	356,307	I	Pu'ahu'ula Management LLC
Common Stock								75,290	I	William M Honbo Rev Liv Trst

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
HONBO CLAYTON K MD 3109 HUELANI PL HONOLULU, HI 96822	X

Signatures

Dean K. Hirata, Atty-in-fact		08/15/2006
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(8)	Market closed at $35.92 on 8/8/06. These shares were transferred from Lynette K Honbo Rev Liv Trust.
(7)	Acquired shares from the transfer from the Lynette K Honbo Rev Liv Trust.
(5)	Acquired shares from the transfer from direct ownership.
(4)	Market closed at $38.33 on 7/5/06. These shares were transferred from Clayton K. Honbo Rev Liv Trust.
(6)	Market closed at $38.33 on 7/5/06. These shares were transferred from direct ownership.
(2)	Transferred these shares into Pu'ahu'ula Management LLC (indirect nature created by Honbo).
(3)	Acquired shares from the transfer from Clayton K Honbo Rev Liv Trust
(1)	Transferred shares to another form of indirect nature, Pu'ahu'ula Mgmt LLC.

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