Game-Changer or Bust? New $395 Alaska/Hawaiian Card for Hawaii Travelers

The new premium credit card, launching at Alaska/Hawaiian in 2025, comes with a $395 annual fee and exclusive features aimed at loyalty members and frequent flyers. We are all interested in the card’s benefits with the upcoming integration of Alaska and Hawaiian Airlines loyalty programs. Here’s what we know as it relates to Hawaii travelers.

The Global Companion Award Certificate is one of the most notable perks, albeit not Hawaii-centric. It can be used internationally. This certificate is valid on Alaska Airlines, Hawaiian Airlines, and other partner airline mileage redemptions. As a first for Alaska cards, it can also be used for business and first-class awards.

Cardholders will automatically receive one certificate yearly and can earn a second by meeting spending requirements.

Alaska Lounge passes (quantity still unknown) will also be included, which could be valuable, especially with new lounges planned for Hawaii and mainland gateways. Other benefits include inflight Wi-Fi vouchers and accelerated elite status within the new loyalty program, further positioning this seemingly expensive card as a potential game-changer for those navigating the growing Alaska-Hawaiian route network.

Why this card matters for Hawaii travelers.

The companion award certificate could be the standout benefit for Hawaii travelers. Unlike Alaska’s existing Companion Fare, this certificate is redeemable for travel that includes premium cabins. For frequent flyers between Hawaii and the mainland or those connecting to international destinations, this may open up interesting and valuable opportunities. We plan to get one of these cards as soon as it becomes available to report back on how well it works.

In addition, the inclusion of partner airlines such as Japan Airlines and Qantas may appeal to Hawaii residents seeking more global travel options. For those who regularly redeem miles for international trips originating from Hawaii, this feature could make the card particularly useful.

Another unique feature that stands out is earning three miles per dollar spent on dining and foreign transactions—an uncommon benefit not regularly seen on other cards.

Can the annual fee be justified? The verdict is out.

The $395 annual fee is higher than the current offerings from Alaska (Bank of America) and Hawaiian (Barclay). Whether it makes sense for Hawaii travelers will depend largely on how frequently the card’s benefits can be used successfully. The companion award certificate alone has the potential to offset the cost if it can result in premium class redemptions. However, as has become increasingly clear over the years, successfully redeeming awards has become more challenging. In this case, the proof will truly be in the pudding.

Alaska Airlines is planning to expand all of its premium offerings, including three new lounges. These will open at San Diego Airport, Honolulu Airport, and a new flagship international lounge coming to Seattle. We don’t have dates yet for these lounges to open. The lounge passes being included may become more compelling due to the expanding number of Alaska lounge locations.

Get a head start and $5 worth of free bonus points.

Alaska Airlines is offering an early signup bonus for travelers who join the waitlist for the $395 premium credit card. By adding your name to the list, you can earn 500 bonus miles right now (a value of $5).

Additionally, cardholders who apply and are approved when the card officially launches will receive another 5,000 bonus miles on top of the standard welcome offer. Cardholders upgrading from an existing Alaska Airlines consumer credit card are not eligible for the bonus miles.

To join the waitlist and secure the bonus miles, visit Alaska Airlines’ official page: Sign up for the Alaska Airlines Premium Credit Card waitlist.

Comparing the $99 Alaska and Hawaiian cards with the new $395 premium card.

The Alaska Airlines $99 Visa Signature card and the Hawaiian Airlines $99 World Elite Mastercard have been popular options for Hawaii travelers, offering valuable perks for a comparatively low annual fee. However, the new $395 Alaska premium card will introduce significant changes, with both opportunities and drawbacks for island travelers.

Alaska Airlines $99 Visa Signature card.

The $99 Alaska card is best known for its annual Companion Fare, which allows cardholders to bring a guest for $122 (including taxes and fees) on paid Alaska Airlines flights. This benefit is limited to economy class, however, and cannot be used on mileage redemptions. For Hawaii travelers flying to or from the mainland, this feature can quickly offset the card’s cost and has been mentioned favorably by many commenters.

The card earns three miles per dollar on Alaska Airlines purchases and one mile per dollar on all other transactions. Cardholders also receive free checked bags for themselves and up to six companions on Alaska-operated flights. Its straightforward benefits make it appealing for budget-conscious travelers.

Hawaiian Airlines $99 World Elite Mastercard.

The Hawaiian Airlines card focuses on interisland and transpacific routes. It offers a one-time 50% off companion discount for a roundtrip main cabin ticket between Hawaii and the mainland, but this is only available during the first year. Unlike the Alaska card, this feature does not renew annually. However, the Hawaiian card provides an annual $100 companion discount for roundtrip travel between Hawaii and the mainland, which is available every year after the account anniversary.

The Hawaiian card earns three miles per dollar on Hawaiian Airlines purchases, two miles per dollar on dining, gas, and groceries, and one mile per dollar on other transactions. Additional benefits include a free checked bag for the primary cardholder on flights booked directly with Hawaiian Airlines.

Significant new $395 card challenges to consider.

While the Global Companion Award Certificate is a major selling point of the new Alaska premium card, its actual value for Hawaii travelers hinges on specific mileage caps. Alaska Airlines has confirmed that these certificates will have mileage value limits, but the exact details have not yet been disclosed. Based on early speculation, the caps may be too low to fully cover first-class or business-class award flights on transpacific routes, particularly to or from Hawaii.

To address this, Alaska will offer a “top-up” feature, allowing cardholders to add miles beyond the certificate’s cap to book higher-value awards. While this provides flexibility, it may diminish the perceived value for those choosing the card specifically to book premium travel.

This feature resembles a benefit found on the Amex Bonvoy card, which offers an annual Marriott free night award. If the point value of a desired hotel exceeds the certificate’s limit, cardholders can add points to reach the required total. Similarly, Alaska’s top-up feature could help travelers salvage value but may not meet expectations for those seeking seamless premium-class travel benefits.

It remains unclear how well this benefit will deliver for Hawaii travelers aiming for premium-class experiences or long-haul trips. The certificate may offer solid value for those who typically book economy awards. However, its appeal could diminish for travelers hoping to unlock higher-end travel options, especially given the card’s $395 annual fee.

Another limitation is the lack of a fuel surcharge waiver for partner airlines like British Airways. Although the card waives the $12.50 partner award booking fee, travelers booking with partners such as British Airways will still face substantial surcharges, which can range from $500 to $1,000 each way for first-class or business-class awards.

Final thoughts for Hawaii travelers.

Alaska Airlines’ new premium credit card offers some intriguing perks for Hawaii travelers, including the companion award certificate, lounge access, and enhanced earning potential on dining. For frequent flyers traveling between Hawaii, the mainland, and beyond, the card could deliver strong value if used strategically. However, the $395 annual fee and potential limitations on benefits may make it less appealing for occasional travelers. Ultimately, whether this card works for Hawaii travelers will depend on how well its features align with individual travel habits and redemption strategies.

We plan to report back on how well the card performs once it becomes available. In the meantime, we welcome your input on airline-branded premium credit cards and their potential value for Hawaii travelers.