Hawaiian Electric Industries, Inc.

Hawaiian Electric Industries, Inc. (HEI) operates as a holding company headquartered in Hawaii with its primary business focused on regulated electric utility operations and non-regulated renewable energy infrastructure investments. The company's website is www.hei.com.

HEI's core business is conducted through Hawaiian Electric Company, Inc., which owns and operates three electric utility subsidiaries: Hawaiian Electric on Oahu, Hawaii Electric Light on the island of Hawaii, and Maui Electric serving Maui, Lanai, and Molokai. These utilities provide essential electric service to approximately 95 percent of Hawaii's population across five separate grids, serving a combined population of approximately 1.4 million across a service area of roughly 5,800 square miles. The utilities serve diverse customer bases including residential, commercial, resort, agricultural, and U.S. Armed Forces installations.

The electric utility segment represents the dominant portion of HEI's business, accounting for approximately 99 percent of consolidated revenues. The utilities operate under a performance-based regulation framework established by the Public Utilities Commission of Hawaii, which includes mechanisms for revenue adjustment, sales decoupling, and cost recovery for specific project categories.

HEI's non-regulated segment, All Other, includes corporate-level operations and Pacific Current, LLC, a subsidiary focused on clean energy and sustainable infrastructure investments in Hawaii. Following the Maui windstorm and wildfires in August 2023, HEI implemented a comprehensive divestiture strategy to focus exclusively on utility operations. This strategy resulted in the sale of American Savings Bank in December 2024 and the disposition of substantially all Pacific Current assets through 2025, with only Mahipapa, a biomass facility, remaining for sale.

As of December 31, 2025, HEI employed approximately 2,675 total employees, with 2,622 employed by Hawaiian Electric and its subsidiaries. The International Brotherhood of Electrical Workers Local 1260 represents roughly half of the utilities' workforce under a collective bargaining agreement.

The utilities serve 474,241 customer accounts and generated approximately 3.02 billion dollars in electric sales revenues in 2025. HEI is committed to achieving net zero carbon emissions from power generation by 2045, with an interim goal of reducing emissions 70 percent by 2030 compared to 2005 levels.