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
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Hudson David William
2. Issuer Name and Ticker or Trading Symbol

CENTRAL PACIFIC FINANCIAL CORP [ CPF ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
EVP
(Last)          (First)          (Middle)

220 S KING ST., 22ND FLOOR
3. Date of Earliest Transaction (MM/DD/YYYY)

11/29/2011
(Street)

HONOLULU, HI 96813
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

11/29/2011 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Restricted Stock Unit   (1) $0   11/29/2011     A      320   (2)      5/2/2011   1/1/2013   Common Stock   320   $0   4580   D    

Explanation of Responses:
(1)  2011 Executive Committee Equity Grants - Salary Shares.
(2)  Based on stock price of $12.80 on 11/29/2011

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Hudson David William
220 S KING ST., 22ND FLOOR
HONOLULU, HI 96813


EVP

Signatures
/s/ Patricia Foley, attorney-in-fact for David W. Hudson 11/29/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Central Pacific Financial Corp.
Power of Attorney

(To execute Forms 3, 4 and 5 of the United States Securities and Exchange

Commission for the purposes of reporting pursuant to and under Section 16(a)

of the Securities and Exchange Act of 1934 and related Rule 16a-3 and other related Rules and Regulations of the United States Securities and Exchange Commission.)

The undersigned hereby constitutes and appoints, effective as of the date of the undersigned?s signature below, the Executive Chairman, the Chief Executive Officer, the President, the Chief Financial Officer, the General Counsel & Corporate Secretary, the Controller, the Director of Human Resources Operations, and Diane Nakasone (Sr. Regulatory Officer), of Central Pacific Financial Corp., who may be appointed to and occupy such offices from time to time, the undersigned?s true and lawful attorneys-in-fact to do the following:

A. To execute for and on behalf of the undersigned, Forms 3, 4 and 5 of the United States Securities and Exchange Commission for the purposes of reporting pursuant to and under Section 16(a) of the Securities and Exchange Act of 1934 and related Rule 16a-3 and other related Rules and Regulations of the United State Securities and Exchange Commission.

B. To do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete the execution of any such Form 3, 4 and 5 and the timely filing of any such Form with the United States Securities and Exchange Commission and any other authority.

C. To take any other action of any type whatsoever in connection with the foregoing which, in the opinion and/or judgment of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood the documents executed by such attorney-in- fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in- fact may approve in his discretion.

D. To do and perform all and every act and thing whatsoever requisite, necessary and proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, hereby ratifying and confirming all that such attorney-in-fact shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted.

Each attorney-in-fact hereunder shall have full power and authority under this Power of Attorney, and all acts authorized to be taken by the attorneys- in-fact hereunder may be taken by any one attorney-in-fact.

The undersigned acknowledges that Central Pacific Financial Corp. and the attorneys-in-fact who are serving hereunder for the benefit of the undersigned, are not assuming any of the undersigned?s responsibilities to comply with Section 16 of the Securities Exchange Act of 1934 or any other securities laws, rules or regulations that the undersigned is required to comply with.

/s/ David W. Hudson                                     Date:  02/15/2011
Signature

David W. Hudson
Print Name

State of Hawaii
City & County of Honolulu

On this 15th day of February, 2011, before me personally appeared David W. Hudson to me known to be the person described in and who executed the foregoing instrument and acknowledged that she/he executed the same as his free act and deed.

Karen D. Chung
Notary Public, State of Hawaii
Commission expires: 8/18/2013