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)
Code V Amount (A) or (D) Price
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

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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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 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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