HONOLULU (January 5, 2026) – Aloha Pacific Federal Credit Union announced the retirement of Chief Operating Officer Barbara Carvalho, effective Jan. 2, 2026, marking the conclusion of a career spanning more than 40 years in Hawaii’s financial services industry.
“Barbara’s leadership, integrity and care for people shaped our organization in lasting ways,” said Vince Otsuka, president and CEO of Aloha Pacific Federal Credit Union. “Her steady guidance strengthened our operations and culture, and we are grateful for her many contributions.”
Carvalho joined Aloha Pacific in 2018 and served as a member of the executive leadership team, overseeing internal operations and key departments including electronic services, online and mobile banking, marketing, product development and facilities. During her tenure, she supported the credit unionʻs growth through strategic acquisitions and the rebranding and integration of branch operations, with a continued focus on operational strength and member service.
She began her professional career in 1980 as a teller at Central Pacific Bank, where she spent nearly 27 years advancing into senior leadership and overseeing statewide branch operations. Carvalho later served as senior vice president at HawaiiUSA Federal Credit Union, leading branch operations and member experience initiatives, before joining Aloha Pacific as vice president of retail operations and later being appointed Chief Operating Officer.
Jay Arakawa, vice president of internal audit, will succeed Carvalho as chief operating officer. Arakawa is a CPA, CIA and CGMA and has been with Aloha Pacific since 2023. He brings a diverse background in the private sector, public accounting and retail. Otsuka will work closely with Arakawa throughout the transition, staying directly involved to ensure continuity across operations and a seamless experience for members and staff.
Beyond her professional career, Carvalho has remained active in the community. She served as the president of the Waipahu High School Booster Club, was a member of the Farrington High School Advisory Board and has volunteered with the Make-A-Wish Foundation for many years
As she enters retirement, Carvalho looks forward to spending more time with her family and continuing her community involvement.
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About Aloha Pacific Federal Credit Union
Founded in 1936 by the City and County of Honolulu employees, Aloha Pacific Federal Credit Union is Hawaii’s third-largest credit union, with more than 70,000 members and over $1.4 billion in assets. The credit union currently operates 11 branches, ten in Hawaii (eight on Oahu, and one each on Kauai and Maui) and its Henderson branch in Las Vegas, Nevada. Membership is open to employees of the City and County of Honolulu and more than 3,400 Select Employee Groups (SEGs) and their immediate families. All residents of Kauai are eligible to join Aloha Pacific, as are Maui County employees, Hawaii Government Employees Association (HGEA) members, and Hawaii National Guard. Other SEGs include Hawaii Pacific Health, Costco, Foodland, and Zippy’s.
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