1924-2003
Frank J. Manaut led Bank of Hawaii in '80s
By Dan Nakaso
Advertiser Staff Writer
Frank J. Manaut, who rose from management trainee to lead Hawai'i's largest financial institution through the 1980s, died early yesterday in his Portlock home after struggling with Alzheimer's Disease. He was 79.
Manaut, who had been head of Bancorp Hawaii Inc. and its Bank of Hawaii subsidiary, died at 12:01 a.m.
Throughout Frank J. Manaut's tenure at the top, Bank of Hawaii remained No. 1 in Hawai'i.
He had been diagnosed with Alzheimer's when he left the bank's board of directors at age 70. Manaut tried to remain active on several other community boards but resigned from them all within a few years, Manaut's son, Peter, said yesterday.
"It's been a long, slow progression," Peter Manaut said. "The last three, four, five years, he'd been at home under full-time care."
Before then, Manaut was a vigorous member of several organizations, which included the Hawai'i Business Roundtable, Pacific Basin Economic Council, East-West Center Foundation and Chamber of Commerce of Hawai'i. He was a trustee of the Nature Conservancy of Hawai'i, financial vice president of Punahou School, a board member of the Honolulu Academy of Arts, director of The Queen's Medical Center and a member of the finance committee of the Roman Catholic Diocese of Honolulu.
Among his many honors, the Honolulu Elks Club gave Manaut its "Citizen of the Year" award in 1985. In 1989, the Aloha Council of the Boy Scouts of America honored Manaut as its "Distinguished Citizen" of the year.
Manaut was born in 1924 in Alhambra, Calif., and graduated from UCLA, Harvard Business School's Advanced Management Program and the Pacific Coast Banking School.
During World War II and the Korean War, he served as a Navy officer.
Manaut's career with Bank of Hawaii began in 1950 when he was hired as a management trainee. Within four years, Manaut was branch manger of the Waipahu, Kaimuki and Ala Moana branches.
In 1961, he became assistant to then-president Rudolph Peterson. By 1971, Manaut was in charge of all general banking and in 1976 rose to the title of president of Bancorp Hawaii Inc. and Bank of Hawaii.
At age 56, Manaut was elected chairman and chief executive officer of both companies in 1980, replacing Wilson P. Cannon Jr., who had died.
Manaut took over Hawai'i's largest financial institution, with assets of $2.1 billion and subsidiaries in California, the Bahamas, Asia and the Pacific. Bank of Hawaii remained No. 1 in Hawai'i throughout Manaut's tenure at the top.
In 1989, a month after his 65th birthday, Manaut retired as chairman and chief executive officer but continued on the board of directors.
Manaut is survived by his wife, Alison; sons Pete, Paul and Mike; daughter, Anne Hagar; and eight grandchildren.
Services are scheduled for 5 p.m. Sunday at St. Patrick's Church in Kaimuki. Aloha attire is requested. Donations may be made to the Alzheimer's Association.
Reach Dan Nakaso at 525-8085 or dnakaso@honoluluadvertiser.com.
