UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 Amendment No.2* CB Bancshares, Inc. ------------------------------------------------------------------------------- (Name of Issuer) Common Stock ------------------------------------------------------------------------------- (Title of Class of Securities) 124785106 -------------------------------------------- (CUSIP Number) December 31, 2002 ------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [_] Rule 13d-1(b) [X] Rule 13d-1(c) [_] Rule 13d-1(d) ----------------------- * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). ----------------------- CUSIP NO. 124785106 ----------------------- ------------------------------------------------------------------------------ 1. NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Northaven Management, Inc. 13-3811355 ------------------------------------------------------------------------------ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [_] ------------------------------------------------------------------------------ 3. SEC USE ONLY ------------------------------------------------------------------------------ 4. CITIZENSHIP OR PLACE OF ORGANIZATION New York ------------------------------------------------------------------------------ 5. SOLE VOTING POWER NUMBER OF 0 SHARES ----------------------------------------------------------- 6. SHARED VOTING POWER BENEFICIALLY 0 OWNED BY ----------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------- 8. SHARED DISPOSITIVE POWER WITH 0 ------------------------------------------------------------------------------ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 ------------------------------------------------------------------------------ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [_] ------------------------------------------------------------------------------ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0% ------------------------------------------------------------------------------ 12. TYPE OF REPORTING PERSON CO ------------------------------------------------------------------------------ 2 Item 1(a). Name of Issuer: CB Bancshares, Inc. Item 1(b). Address of Issuer's Principal Executive Offices: 201 Merchant Street Honolulu, Hawaii 96813 Item 2(a). Name of Person Filing: Northaven Management, Inc. Item 2(b). Address of Principal Business Office or, if none, Residence: 200 Park Avenue 39th Floor New York, NY 10166 Item 2(c). Citizenship: New York corporation Item 2(d). Title of Class of Securities: Common Stock Item 2(e). CUSIP Number: 124785106 Item 3. Not applicable. This Schedule 13G is filed pursuant to Rule 13d-1(c). Item 4. Ownership See lines 5,6,7,8,9 and 11 on page 2 of this Schedule 13G. Item 5 Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [x]. Items 6 through 9. Not applicable. 3 Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: 1/24/04 ------------------------- Northaven Management, Inc. by /s/ Paul Burke ------------------------------- Name: Paul Burke Title: Vice President 4