treasure, jewel, precious, rare
寶 centers on something highly valued and kept safe: a treasure, jewel, or anything precious and rare.
寶 combines 宀 (roof) with 珤 (a phonetic component suggesting precious jade) and 貝 (shell, an ancient form of currency), together representing valuables kept under a roof.
Under a roof 宀, you keep jade 珤 and shells 貝 — all your precious treasures stored safely inside.
For ホウ, imagine a treasure chest so full it makes a deep 'hoe' sound when you lift it: hoe -> ホウ, and inside are all your jewels.