FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF 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 *   HIRATA DEAN K 2. Date of Event Requiring Statement (Month/Day/Year) 09/15/2004 3. Issuer Name and Ticker or Trading Symbol CENTRAL PACIFIC FINANCIAL CORP [CPF] (Last) (First) (Middle) 220 SOUTH KING STREET 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP and CFO 5. If Amendment, Date Original Filed(Month/Day/Year) 09/15/2004 (Street) HONOLULU, HI 96813 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 Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 703 (1) D   Common Stock 8,970 (1) I Joint with spouse Common Stock 4,507 (1) I IRA

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Incentive Stock Options	09/15/2004	01/26/2010	Common Stock	5,293 (2)	$ 6.33 (3)	D	Â
Incentive Stock Option	09/15/2004	01/11/2011	Common Stock	15,266 (2)	$ 6.55 (3)	D	Â
Nonqualified Stock Option	09/15/2004	06/06/2012	Common Stock	9,685 (2)	$ 10.33 (3)	D	Â
Nonqualified Stock Option	09/15/2004	09/19/2013	Common Stock	10,160 (2)	$ 18.19 (3)	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
HIRATA DEAN K 220 SOUTH KING STREET HONOLULU, HI 96813	Â	Â	  EVP and CFO	Â

Signatures

Dean K. Hirata		01/14/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(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).
(1)	Shares received in exchange for CB Bancshares, Inc. shares in conjunction with the merger of CB Bancshares, Inc. and Central Pacific Financial Corp. on 9/15/04.
(2)	Adjusted amount of shares due to error in calculation.
(3)	Adjusted price due to error in calculation.

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