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

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

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 (Month/Day/Year) 05/04/2015 (Street) HONOLULU, HI 96813 4. If Amendment, Date Original Filed(Month/Day/Year) 05/05/2015 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 05/04/2015   M   1,165 A $ 22.99 12,778 I David Hudson and Dana Kokubun Trust dated 2/3/99 Common Stock 05/04/2015   M   12,090 (1) A $ 22.99 24,868 I David Hudson and Dana Kokubun Trust dated 2/3/99 Common Stock 05/04/2015   M   158 A $ 22.99 25,026 I David Hudson and Dana Kokubun Trust dated 2/3/99 Common Stock 05/04/2015   M   1,640 (1) A $ 22.99 26,666 I David Hudson and Dana Kokubun Trust dated 2/3/99 Common Stock 05/04/2015   F   681 D $ 22.99 25,985 I David Hudson and Dana Kokubun Trust dated 2/3/99 Common Stock 05/04/2015   F   5,820 D $ 22.99 20,165 I David Hudson and Dana Kokubun Trust dated 2/3/99 Common Stock 05/04/2015   F   84 D $ 22.99 20,081 I David Hudson and Dana Kokubun Trust dated 2/3/99 Common Stock 05/04/2015   F   706 D $ 22.99 19,375 I David Hudson and Dana Kokubun Trust dated 2/3/99 Common Stock               12,149 I David W. Hudson and Dana E. Kokubum Family Trust dtd 2/3/99 Common Stock (2) (3)               8,465 D   Common Stock (4)               3,207 D   Common Stock (5)               1,068 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	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.		SEC 1474 (9-02)

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

Restricted Stock Unit

$ 0

05/04/2015

M

1,165

05/02/2013

05/02/2017

Common Stock

1,165

$ 0

18,674

D

Restricted Stock Unit

$ 0

05/04/2015

M

12,090 (1)

05/02/2013

05/02/2017

Common Stock

12,090

$ 0

6,584

D

Restricted Stock Unit

$ 0

05/04/2015

M

158

05/02/2013

05/02/2017

Common Stock

158

$ 0

6,426

D

Restricted Stock Unit

$ 0

05/04/2015

M

1,640 (1)

05/02/2013

05/02/2017

Common Stock

1,640

$ 0

4,786

D

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		05/05/2015
**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).
(1)	PSUs vested at 1.73X target. 1st tranche = 60%
(2)	PSUs (Two-thirds of 02/28/14 performance award grant): Based on attainment of 90% (threshold) of Board approved 2014 Target Net Income of $40.05 million. If threshold is not achieved, all shares will be forfeited. If threshold is achieved, the first tranche will vest in 2015; followed by the second and third tranches in 2016 and 2017 respectively. Vesting in 2016 is conditioned on the Company achieving a net income of at least $30 million in 2015. Likewise, vesting in 2017 is conditioned on the Company achieving a net income of at least $30 million in 2016. Actual shares earned will be based on 2014 Target Net Income results, with a Stretch Opportunity from 90% of Target up to 200% (cap). 1/3 of each portion will vest equally over the next 3 years.
(3)	RSUs (one-third of 2/28/14 grant) Time Based, whereby shares vest in equal increments over 3 years.
(4)	RSUs performance-based, granted 2/17/15 reported at maximum number of shares to vest. Actual number of shares to vest based on performance results
(5)	RSUs time-based; granted 2/17/15

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.