Private banking includes personalized financial services and products that retail banks and other financial institutions offer to high-net-worth individuals (HNWI). These services and products often include:

• investment and portfolio management

• wealth management

• tax services

• will, trust, and estate planning services

• insurance products

• jumbo mortgages

• lines of credit

• bill payment.

Private banking clients often receive discounted or preferred pricing on these services and products.

To be eligible for private banking services and products, retail bank clients are often required to maintain balances in their bank accounts (checking, savings, money market) and investment accounts (IRAs, mutual funds) totaling $150,000 to $250,000 or more.

In Hawaii, private banking services are regulated under both state and federal laws. These services cater to high-net-worth individuals by offering a suite of personalized financial products and services, which can include investment and portfolio management, wealth management, tax services, estate planning, insurance products, jumbo mortgages, lines of credit, and bill payment services. Clients of private banking typically receive preferred pricing and may need to maintain a certain balance across their accounts, often ranging from $150,000 to $250,000 or more, to qualify for these services. Hawaii's state regulations would govern the operations of any state-chartered banks offering private banking services, while federal laws and regulations, such as those enforced by the Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC), provide oversight for national banks and ensure the protection of consumers engaging in these financial activities. It's important for individuals interested in these services to consult with an attorney or a financial advisor to understand the specific legal and regulatory requirements that apply to private banking in Hawaii.