0000354707false12/312022Q3000004620712/312022Q36.676.6700003547072022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberdei:FormerAddressMember2022-01-012022-09-3000003547072022-10-25xbrli:shares0000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-10-250000354707he:ElectricUtilitySegmentMember2022-07-012022-09-30iso4217:USD0000354707he:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMember2022-07-012022-09-300000354707he:BankingSegmentMember2021-07-012021-09-300000354707he:BankingSegmentMember2022-01-012022-09-300000354707he:BankingSegmentMember2021-01-012021-09-300000354707us-gaap:AllOtherSegmentsMember2022-07-012022-09-300000354707us-gaap:AllOtherSegmentsMember2021-07-012021-09-300000354707us-gaap:AllOtherSegmentsMember2022-01-012022-09-300000354707us-gaap:AllOtherSegmentsMember2021-01-012021-09-3000003547072022-07-012022-09-3000003547072021-07-012021-09-3000003547072021-01-012021-09-30iso4217:USDxbrli:shares00003547072022-09-3000003547072021-12-310000354707us-gaap:CommonStockMember2021-12-310000354707us-gaap:RetainedEarningsMember2021-12-310000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000354707us-gaap:RetainedEarningsMember2022-01-012022-03-3100003547072022-01-012022-03-310000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310000354707us-gaap:CommonStockMember2022-01-012022-03-310000354707us-gaap:CommonStockMember2022-03-310000354707us-gaap:RetainedEarningsMember2022-03-310000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-3100003547072022-03-310000354707us-gaap:RetainedEarningsMember2022-04-012022-06-3000003547072022-04-012022-06-300000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000354707us-gaap:CommonStockMember2022-04-012022-06-300000354707us-gaap:CommonStockMember2022-06-300000354707us-gaap:RetainedEarningsMember2022-06-300000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-3000003547072022-06-300000354707us-gaap:RetainedEarningsMember2022-07-012022-09-300000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000354707us-gaap:CommonStockMember2022-07-012022-09-300000354707us-gaap:CommonStockMember2022-09-300000354707us-gaap:RetainedEarningsMember2022-09-300000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-300000354707us-gaap:CommonStockMember2020-12-310000354707us-gaap:RetainedEarningsMember2020-12-310000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-3100003547072020-12-310000354707us-gaap:RetainedEarningsMember2021-01-012021-03-3100003547072021-01-012021-03-310000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000354707us-gaap:CommonStockMember2021-01-012021-03-310000354707us-gaap:CommonStockMember2021-03-310000354707us-gaap:RetainedEarningsMember2021-03-310000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-3100003547072021-03-310000354707us-gaap:RetainedEarningsMember2021-04-012021-06-3000003547072021-04-012021-06-300000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000354707us-gaap:CommonStockMember2021-04-012021-06-300000354707us-gaap:CommonStockMember2021-06-300000354707us-gaap:RetainedEarningsMember2021-06-300000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-3000003547072021-06-300000354707us-gaap:RetainedEarningsMember2021-07-012021-09-300000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000354707us-gaap:CommonStockMember2021-07-012021-09-300000354707us-gaap:CommonStockMember2021-09-300000354707us-gaap:RetainedEarningsMember2021-09-300000354707us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-3000003547072021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-01-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:CommonStockMember2021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AdditionalPaidInCapitalMember2021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2022-01-012022-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-01-012022-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:CommonStockMember2022-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AdditionalPaidInCapitalMember2022-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2022-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2022-04-012022-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-04-012022-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:CommonStockMember2022-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AdditionalPaidInCapitalMember2022-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2022-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:CommonStockMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AdditionalPaidInCapitalMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:CommonStockMember2020-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AdditionalPaidInCapitalMember2020-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2020-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMember2020-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2021-01-012021-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-01-012021-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:CommonStockMember2021-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AdditionalPaidInCapitalMember2021-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2021-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-03-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2021-04-012021-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-04-012021-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:CommonStockMember2021-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AdditionalPaidInCapitalMember2021-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2021-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-06-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:CommonStockMember2021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AdditionalPaidInCapitalMember2021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:RetainedEarningsMember2021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-09-300000354707us-gaap:OperatingSegmentsMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300000354707us-gaap:OperatingSegmentsMember2022-07-012022-09-300000354707us-gaap:IntersegmentEliminationMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707us-gaap:IntersegmentEliminationMemberhe:BankingSegmentMember2022-07-012022-09-300000354707us-gaap:IntersegmentEliminationMemberus-gaap:AllOtherSegmentsMember2022-07-012022-09-300000354707us-gaap:IntersegmentEliminationMember2022-07-012022-09-300000354707us-gaap:OperatingSegmentsMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300000354707us-gaap:OperatingSegmentsMember2022-01-012022-09-300000354707us-gaap:IntersegmentEliminationMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707us-gaap:IntersegmentEliminationMemberhe:BankingSegmentMember2022-01-012022-09-300000354707us-gaap:IntersegmentEliminationMemberus-gaap:AllOtherSegmentsMember2022-01-012022-09-300000354707us-gaap:IntersegmentEliminationMember2022-01-012022-09-300000354707he:ElectricUtilitySegmentMember2022-09-300000354707he:BankingSegmentMember2022-09-300000354707us-gaap:AllOtherSegmentsMember2022-09-300000354707us-gaap:OperatingSegmentsMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300000354707us-gaap:OperatingSegmentsMember2021-07-012021-09-300000354707us-gaap:IntersegmentEliminationMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707us-gaap:IntersegmentEliminationMemberhe:BankingSegmentMember2021-07-012021-09-300000354707us-gaap:IntersegmentEliminationMemberus-gaap:AllOtherSegmentsMember2021-07-012021-09-300000354707us-gaap:IntersegmentEliminationMember2021-07-012021-09-300000354707us-gaap:OperatingSegmentsMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300000354707us-gaap:OperatingSegmentsMember2021-01-012021-09-300000354707us-gaap:IntersegmentEliminationMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707us-gaap:IntersegmentEliminationMemberhe:BankingSegmentMember2021-01-012021-09-300000354707us-gaap:IntersegmentEliminationMemberus-gaap:AllOtherSegmentsMember2021-01-012021-09-300000354707us-gaap:IntersegmentEliminationMember2021-01-012021-09-300000354707he:ElectricUtilitySegmentMember2021-12-310000354707he:BankingSegmentMember2021-12-310000354707us-gaap:AllOtherSegmentsMember2021-12-310000354707srt:SubsidiariesMember2022-01-012022-09-30he:agreement0000354707he:PunaGeothermalVenturePowerPurchaseAgreementMember2021-01-012021-03-31utr:MW0000354707he:PunaGeothermalVenturePowerPurchaseAgreementMember2021-04-012021-06-300000354707he:PunaGeothermalVenturePowerPurchaseAgreementMember2022-06-012022-06-30he:entity0000354707he:HawaiianElectricParentMemberhe:KalaeloaPartnersLPMember2022-07-012022-09-300000354707he:HawaiianElectricParentMemberhe:KalaeloaPartnersLPMember2021-07-012021-09-300000354707he:HawaiianElectricParentMemberhe:KalaeloaPartnersLPMember2022-01-012022-09-300000354707he:HawaiianElectricParentMemberhe:KalaeloaPartnersLPMember2021-01-012021-09-300000354707he:HawaiianElectricParentMemberhe:AESHawaiianIncMember2022-07-012022-09-300000354707he:HawaiianElectricParentMemberhe:AESHawaiianIncMember2021-07-012021-09-300000354707he:HawaiianElectricParentMemberhe:AESHawaiianIncMember2022-01-012022-09-300000354707he:HawaiianElectricParentMemberhe:AESHawaiianIncMember2021-01-012021-09-300000354707he:HpowerMemberhe:HawaiianElectricParentMember2022-07-012022-09-300000354707he:HpowerMemberhe:HawaiianElectricParentMember2021-07-012021-09-300000354707he:HpowerMemberhe:HawaiianElectricParentMember2022-01-012022-09-300000354707he:HpowerMemberhe:HawaiianElectricParentMember2021-01-012021-09-300000354707he:HawaiianElectricParentMemberhe:HamakuaEnergyPartnersLPMember2022-07-012022-09-300000354707he:HawaiianElectricParentMemberhe:HamakuaEnergyPartnersLPMember2021-07-012021-09-300000354707he:HawaiianElectricParentMemberhe:HamakuaEnergyPartnersLPMember2022-01-012022-09-300000354707he:HawaiianElectricParentMemberhe:HamakuaEnergyPartnersLPMember2021-01-012021-09-300000354707he:HawaiianElectricParentMemberhe:PunaGeothermalVentureMember2022-07-012022-09-300000354707he:HawaiianElectricParentMemberhe:PunaGeothermalVentureMember2021-07-012021-09-300000354707he:HawaiianElectricParentMemberhe:PunaGeothermalVentureMember2022-01-012022-09-300000354707he:HawaiianElectricParentMemberhe:PunaGeothermalVentureMember2021-01-012021-09-300000354707he:WindIndependentPowerProducersMemberhe:HawaiianElectricParentMember2022-07-012022-09-300000354707he:WindIndependentPowerProducersMemberhe:HawaiianElectricParentMember2021-07-012021-09-300000354707he:WindIndependentPowerProducersMemberhe:HawaiianElectricParentMember2022-01-012022-09-300000354707he:WindIndependentPowerProducersMemberhe:HawaiianElectricParentMember2021-01-012021-09-300000354707he:SolarIndependentPowerProducerMemberhe:HawaiianElectricParentMember2022-07-012022-09-300000354707he:SolarIndependentPowerProducerMemberhe:HawaiianElectricParentMember2021-07-012021-09-300000354707he:SolarIndependentPowerProducerMemberhe:HawaiianElectricParentMember2022-01-012022-09-300000354707he:SolarIndependentPowerProducerMemberhe:HawaiianElectricParentMember2021-01-012021-09-300000354707he:HawaiianElectricParentMemberhe:OtherIndependentPowerProducersMember2022-07-012022-09-300000354707he:HawaiianElectricParentMemberhe:OtherIndependentPowerProducersMember2021-07-012021-09-300000354707he:HawaiianElectricParentMemberhe:OtherIndependentPowerProducersMember2022-01-012022-09-300000354707he:HawaiianElectricParentMemberhe:OtherIndependentPowerProducersMember2021-01-012021-09-300000354707he:HawaiianElectricParentMember2022-07-012022-09-300000354707he:HawaiianElectricParentMember2021-07-012021-09-300000354707he:HawaiianElectricParentMember2022-01-012022-09-300000354707he:HawaiianElectricParentMember2021-01-012021-09-300000354707he:HawaiianElectricParentMemberhe:KalaeloaPartnersLPMember1988-01-011988-12-310000354707he:KalaeloaPartnersLPMember2021-10-012021-10-310000354707he:KalaeloaPartnersLPMember2022-07-012022-09-30xbrli:pure0000354707he:AESHawaiianIncMember1988-03-011988-03-310000354707he:Stage1RenewablePPAsMember2018-02-012018-02-280000354707he:Stage1RenewablePPAsMember2022-07-312022-07-31utr:MWh0000354707he:Stage1RenewablePPAsMember2022-09-300000354707he:HuHonuaBioenergyLLCMember2012-05-012012-05-310000354707he:MolokaiNewEnergyPartnersMember2018-07-012018-07-310000354707he:SauseBrosIncMember2021-08-232021-08-230000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:ERPEAMImplementationProjectMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:ERPEAMImplementationProjectMember2018-10-310000354707he:ERPEAMImplementationProjectMember2019-06-100000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:ERPEAMImplementationProjectMember2022-09-300000354707he:HawaiianElectricParentMemberhe:ERPEAMImplementationProjectMember2022-09-300000354707he:HawaiiElectricLightCompanyIncMemberhe:ERPEAMImplementationProjectMember2022-09-300000354707he:ERPEAMImplementationProjectMemberhe:MauiElectricCompanyLimitedMember2022-09-300000354707he:ERPEAMImplementationProjectMemberhe:MauiElectricCompanyLimitedMember2022-01-012022-09-300000354707he:WestLochPVProjectMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2019-11-012019-11-300000354707he:WestLochPVProjectMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2019-11-300000354707he:WestLochPVProjectMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2022-09-300000354707us-gaap:DomesticCountryMember2022-01-012022-09-300000354707us-gaap:StateAndLocalJurisdictionMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:WaenaSwitchyardSynchronousCondenserProjectMember2020-10-31he:transmission_lineutr:kVhe:generationUnit0000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:WaenaSwitchyardSynchronousCondenserProjectMember2021-11-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:WaenaSwitchyardSynchronousCondenserProjectMember2022-09-300000354707he:MauiElectricCompanyLimitedMember2022-09-300000354707he:PCBContaminationMemberhe:HawaiianElectricParentMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-06-17he:mechanismhe:staff0000354707he:HawaiianElectricCompanyAndSubsidiariesMember2020-12-232020-12-230000354707he:HawaiianElectricCompanyAndSubsidiariesMember2020-12-230000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:SchofieldGenerationStationMember2022-01-012022-09-300000354707he:WestLochPVProjectMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:GridModernizationStrategyPhase1ProjectMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:WaiawaUFLSProjectMember2022-01-012022-09-30he:contracthe:project00003547072020-12-232020-12-230000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-02-280000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-01-012021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMember2019-01-012019-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMember2019-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMember2020-07-090000354707he:HawaiianElectricCompanyAndSubsidiariesMember2020-09-152020-09-150000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-02-162021-02-160000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-09-012021-11-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-03-230000354707he:HawaiianElectricCompanyAndSubsidiariesMember2021-06-010000354707he:HawaiiElectricLightCompanyIncMember2022-01-012022-09-300000354707he:MauiElectricCompanyLimitedMember2022-01-012022-09-300000354707he:HawaiianElectricParentMember2021-12-310000354707he:HawaiiElectricLightCompanyIncMember2021-12-310000354707he:MauiElectricCompanyLimitedMember2021-12-310000354707he:HawaiianElectricParentMemberus-gaap:SubsequentEventMember2022-10-312022-10-310000354707he:HawaiiElectricLightCompanyIncMemberus-gaap:SubsequentEventMember2022-10-312022-10-310000354707he:MauiElectricCompanyLimitedMemberus-gaap:SubsequentEventMember2022-10-312022-10-310000354707us-gaap:SubsequentEventMember2022-10-312022-10-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:COVID19Member2021-12-012021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-06-090000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-06-092022-06-090000354707he:HawaiianElectricCompanyAndSubsidiariesMember2020-10-302020-10-300000354707he:HawaiianElectricCompanyAndSubsidiariesMember2020-10-30he:installation0000354707he:HawaiianElectricCompanyAndSubsidiariesMember2022-03-012022-03-010000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:HawaiiElectricLightCompanyIncMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:MauiElectricCompanyLimitedMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:OtherSubsidiariesMember2022-07-012022-09-300000354707srt:ConsolidationEliminationsMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:HawaiiElectricLightCompanyIncMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:MauiElectricCompanyLimitedMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:OtherSubsidiariesMember2021-07-012021-09-300000354707srt:ConsolidationEliminationsMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2021-07-012021-09-300000354707srt:ConsolidationEliminationsMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:HawaiiElectricLightCompanyIncMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:MauiElectricCompanyLimitedMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:OtherSubsidiariesMember2022-01-012022-09-300000354707srt:ConsolidationEliminationsMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2021-01-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:HawaiiElectricLightCompanyIncMember2021-01-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:MauiElectricCompanyLimitedMember2021-01-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:OtherSubsidiariesMember2021-01-012021-09-300000354707srt:ConsolidationEliminationsMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2021-01-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:HawaiiElectricLightCompanyIncMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:MauiElectricCompanyLimitedMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:OtherSubsidiariesMember2022-09-300000354707srt:ConsolidationEliminationsMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:HawaiiElectricLightCompanyIncMember2021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:MauiElectricCompanyLimitedMember2021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:OtherSubsidiariesMember2021-12-310000354707srt:ConsolidationEliminationsMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2020-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:HawaiiElectricLightCompanyIncMember2020-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:MauiElectricCompanyLimitedMember2020-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:OtherSubsidiariesMember2020-12-310000354707srt:ConsolidationEliminationsMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2020-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:HawaiiElectricLightCompanyIncMember2021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:MauiElectricCompanyLimitedMember2021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMembersrt:ReportableLegalEntitiesMemberhe:OtherSubsidiariesMember2021-09-300000354707srt:ConsolidationEliminationsMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2021-09-300000354707he:AmericanSavingsBankFSBMember2022-07-012022-09-300000354707he:AmericanSavingsBankFSBMember2021-07-012021-09-300000354707he:AmericanSavingsBankFSBMember2022-01-012022-09-300000354707he:AmericanSavingsBankFSBMember2021-01-012021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:FinancialServiceMember2022-07-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:FinancialServiceMember2021-07-012021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:FinancialServiceMember2022-01-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:FinancialServiceMember2021-01-012021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:DepositAccountMember2022-07-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:DepositAccountMember2021-07-012021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:DepositAccountMember2022-01-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:DepositAccountMember2021-01-012021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:FinancialServiceOtherMember2022-07-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:FinancialServiceOtherMember2021-07-012021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:FinancialServiceOtherMember2022-01-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:FinancialServiceOtherMember2021-01-012021-09-300000354707he:AmericanSavingsBankFSBMemberhe:BankOwnedLifeInsuranceIncomeMember2022-07-012022-09-300000354707he:AmericanSavingsBankFSBMemberhe:BankOwnedLifeInsuranceIncomeMember2021-07-012021-09-300000354707he:AmericanSavingsBankFSBMemberhe:BankOwnedLifeInsuranceIncomeMember2022-01-012022-09-300000354707he:AmericanSavingsBankFSBMemberhe:BankOwnedLifeInsuranceIncomeMember2021-01-012021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:MortgageBankingMember2022-07-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:MortgageBankingMember2021-07-012021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:MortgageBankingMember2022-01-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:MortgageBankingMember2021-01-012021-09-300000354707he:AmericanSavingsBankFSBMemberhe:GainLossOnSaleOfInvestmentsNetMember2022-07-012022-09-300000354707he:AmericanSavingsBankFSBMemberhe:GainLossOnSaleOfInvestmentsNetMember2021-07-012021-09-300000354707he:AmericanSavingsBankFSBMemberhe:GainLossOnSaleOfInvestmentsNetMember2022-01-012022-09-300000354707he:AmericanSavingsBankFSBMemberhe:GainLossOnSaleOfInvestmentsNetMember2021-01-012021-09-300000354707he:AmericanSavingsBankFSBMemberhe:OtherIncomeNetMember2022-07-012022-09-300000354707he:AmericanSavingsBankFSBMemberhe:OtherIncomeNetMember2021-07-012021-09-300000354707he:AmericanSavingsBankFSBMemberhe:OtherIncomeNetMember2022-01-012022-09-300000354707he:AmericanSavingsBankFSBMemberhe:OtherIncomeNetMember2021-01-012021-09-300000354707he:AmericanSavingsBankFSBMember2022-09-300000354707he:AmericanSavingsBankFSBMember2021-12-310000354707he:AmericanSavingsBankFSBMemberus-gaap:USTreasuryAndGovernmentMember2022-09-30he:issue0000354707he:AmericanSavingsBankFSBMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:CorporateDebtSecuritiesMember2022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:AssetBackedSecuritiesMember2022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:USTreasuryAndGovernmentMember2021-12-310000354707he:AmericanSavingsBankFSBMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2021-12-310000354707he:AmericanSavingsBankFSBMemberus-gaap:CorporateDebtSecuritiesMember2021-12-310000354707he:AmericanSavingsBankFSBMemberus-gaap:AssetBackedSecuritiesMember2021-12-310000354707he:AmericanSavingsBankFSBMemberus-gaap:SubsequentEventMember2022-11-012022-11-30he:security0000354707he:AmericanSavingsBankFSBMemberus-gaap:SubsequentEventMember2022-10-310000354707he:AmericanSavingsBankFSBMemberus-gaap:SubsequentEventMember2022-10-012022-10-310000354707he:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-12-310000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-12-310000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-12-310000354707he:RealEstatePortfolioSegmentMember2022-09-300000354707he:RealEstatePortfolioSegmentMember2021-12-310000354707us-gaap:CommercialPortfolioSegmentMember2022-09-300000354707us-gaap:CommercialPortfolioSegmentMember2021-12-310000354707us-gaap:ConsumerPortfolioSegmentMember2022-09-300000354707us-gaap:ConsumerPortfolioSegmentMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2022-06-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-06-300000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2022-06-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2022-06-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2022-06-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2022-06-300000354707us-gaap:CommercialPortfolioSegmentMember2022-06-300000354707us-gaap:ConsumerPortfolioSegmentMember2022-06-300000354707he:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2022-07-012022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-07-012022-09-300000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2022-07-012022-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2022-07-012022-09-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2022-07-012022-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2022-07-012022-09-300000354707us-gaap:CommercialPortfolioSegmentMember2022-07-012022-09-300000354707us-gaap:ConsumerPortfolioSegmentMember2022-07-012022-09-300000354707he:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-06-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-06-300000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2021-06-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-06-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2021-06-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-06-300000354707us-gaap:CommercialPortfolioSegmentMember2021-06-300000354707us-gaap:ConsumerPortfolioSegmentMember2021-06-300000354707he:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-07-012021-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-07-012021-09-300000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2021-07-012021-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-07-012021-09-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2021-07-012021-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-07-012021-09-300000354707us-gaap:CommercialPortfolioSegmentMember2021-07-012021-09-300000354707us-gaap:ConsumerPortfolioSegmentMember2021-07-012021-09-300000354707he:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-09-300000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2021-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-09-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2021-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-09-300000354707us-gaap:CommercialPortfolioSegmentMember2021-09-300000354707us-gaap:ConsumerPortfolioSegmentMember2021-09-300000354707he:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2022-01-012022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-01-012022-09-300000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2022-01-012022-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2022-01-012022-09-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2022-01-012022-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2022-01-012022-09-300000354707us-gaap:CommercialPortfolioSegmentMember2022-01-012022-09-300000354707us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-09-300000354707he:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2020-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2020-12-310000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2020-12-310000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2020-12-310000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2020-12-310000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2020-12-310000354707us-gaap:CommercialPortfolioSegmentMember2020-12-310000354707us-gaap:ConsumerPortfolioSegmentMember2020-12-310000354707he:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-01-012021-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-01-012021-09-300000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2021-01-012021-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-01-012021-09-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2021-01-012021-09-300000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-01-012021-09-300000354707us-gaap:CommercialPortfolioSegmentMember2021-01-012021-09-300000354707us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-09-300000354707us-gaap:FinancingReceivables1To29DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2022-09-300000354707us-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberhe:Residential14FamilyMember2022-09-300000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2022-09-300000354707us-gaap:FinancingReceivables1To29DaysPastDueMemberus-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707us-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000354707us-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707us-gaap:FinancingReceivables1To29DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2022-09-300000354707us-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberhe:ResidentialLandMember2022-09-300000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2022-09-300000354707us-gaap:FinancingReceivables1To29DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2022-09-300000354707us-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberhe:ResidentialConstructionLoanMember2022-09-300000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2022-09-300000354707us-gaap:FinancingReceivables1To29DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-09-300000354707us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-09-300000354707us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:PassMemberus-gaap:CommercialRealEstateMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstateMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstateMember2022-09-300000354707us-gaap:DoubtfulMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-09-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:PassMember2022-09-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2022-09-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2022-09-300000354707he:CommercialConstructionLoanMemberus-gaap:DoubtfulMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2022-09-300000354707us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMember2022-09-300000354707us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2022-09-300000354707us-gaap:DoubtfulMemberus-gaap:CommercialPortfolioSegmentMember2022-09-300000354707us-gaap:FinancingReceivables1To29DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-12-310000354707us-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberhe:Residential14FamilyMember2021-12-310000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-12-310000354707us-gaap:FinancingReceivables1To29DaysPastDueMemberus-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707us-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000354707us-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707us-gaap:FinancingReceivables1To29DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-12-310000354707us-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberhe:ResidentialLandMember2021-12-310000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-12-310000354707us-gaap:FinancingReceivables1To29DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-12-310000354707us-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberhe:ResidentialConstructionLoanMember2021-12-310000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-12-310000354707us-gaap:FinancingReceivables1To29DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000354707us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310000354707us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:PassMemberus-gaap:CommercialRealEstateMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstateMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstateMember2021-12-310000354707us-gaap:DoubtfulMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-12-310000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:PassMember2021-12-310000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2021-12-310000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2021-12-310000354707he:CommercialConstructionLoanMemberus-gaap:DoubtfulMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000354707us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000354707us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2021-12-310000354707us-gaap:DoubtfulMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000354707us-gaap:HomeEquityLoanMember2022-01-012022-09-300000354707us-gaap:HomeEquityLoanMember2021-01-012021-09-300000354707us-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberhe:Residential14FamilyMember2022-09-300000354707us-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstateMember2022-09-300000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-09-300000354707us-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstateMember2022-09-300000354707us-gaap:HomeEquityLoanMemberus-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-09-300000354707us-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberhe:ResidentialLandMember2022-09-300000354707he:CommercialConstructionLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000354707he:CommercialConstructionLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707he:CommercialConstructionLoanMemberus-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-09-300000354707us-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberhe:ResidentialConstructionLoanMember2022-09-300000354707us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-09-300000354707us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-09-300000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-09-300000354707us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-09-300000354707us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-09-300000354707us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-09-300000354707us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-09-300000354707us-gaap:FinancingReceivables30To59DaysPastDueMember2022-09-300000354707us-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-09-300000354707us-gaap:FinancialAssetPastDueMember2022-09-300000354707us-gaap:FinancialAssetNotPastDueMember2022-09-300000354707us-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberhe:Residential14FamilyMember2021-12-310000354707us-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstateMember2021-12-310000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-12-310000354707us-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstateMember2021-12-310000354707us-gaap:HomeEquityLoanMemberus-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000354707us-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberhe:ResidentialLandMember2021-12-310000354707he:CommercialConstructionLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000354707he:CommercialConstructionLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707he:CommercialConstructionLoanMemberus-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000354707us-gaap:FinancialAssetPastDueMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberhe:ResidentialConstructionLoanMember2021-12-310000354707us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000354707us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000354707us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000354707us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000354707us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310000354707us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000354707us-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310000354707us-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000354707us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000354707us-gaap:FinancialAssetPastDueMember2021-12-310000354707us-gaap:FinancialAssetNotPastDueMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-01-012021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-01-012021-12-310000354707us-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2021-01-012021-12-310000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-01-012021-12-310000354707he:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2021-01-012021-12-310000354707he:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-01-012021-12-310000354707us-gaap:CommercialPortfolioSegmentMember2021-01-012021-12-310000354707us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-12-3100003547072021-01-012021-12-310000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2022-07-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2022-01-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-07-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-01-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2022-07-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2022-01-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2022-07-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2022-01-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2022-07-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2022-01-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2022-07-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2022-01-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:CommercialPortfolioSegmentMember2022-07-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:CommercialPortfolioSegmentMember2022-01-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:ConsumerPortfolioSegmentMember2022-07-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:ConsumerPortfolioSegmentMember2022-01-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMember2022-07-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMember2022-01-012022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-07-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-01-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-07-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-01-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2021-07-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2021-01-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-07-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-01-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2021-07-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:CommercialConstructionLoanMemberhe:RealEstatePortfolioSegmentMember2021-01-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-07-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialConstructionLoanMember2021-01-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:CommercialPortfolioSegmentMember2021-07-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:CommercialPortfolioSegmentMember2021-01-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:ConsumerPortfolioSegmentMember2021-07-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMemberus-gaap:ConsumerPortfolioSegmentMember2021-01-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMember2021-07-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMember2021-01-012021-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMember2022-09-300000354707he:FinancingReceivableTroubledDebtRestructuringsRealEstateLoansMember2021-12-310000354707us-gaap:ResidentialRealEstateMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2022-09-300000354707us-gaap:ResidentialRealEstateMemberhe:RealEstatePortfolioSegmentMemberhe:Residential14FamilyMember2021-12-310000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstateMember2022-09-300000354707he:RealEstatePortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstateMember2021-12-310000354707us-gaap:ResidentialRealEstateMemberus-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707us-gaap:ResidentialRealEstateMemberus-gaap:HomeEquityLoanMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707us-gaap:ResidentialRealEstateMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2022-09-300000354707us-gaap:ResidentialRealEstateMemberhe:RealEstatePortfolioSegmentMemberhe:ResidentialLandMember2021-12-310000354707us-gaap:CollateralPledgedMemberhe:RealEstatePortfolioSegmentMember2022-09-300000354707us-gaap:CollateralPledgedMemberhe:RealEstatePortfolioSegmentMember2021-12-310000354707he:BusinessAssetsMemberus-gaap:CommercialPortfolioSegmentMember2022-09-300000354707he:BusinessAssetsMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000354707us-gaap:CollateralPledgedMember2022-09-300000354707us-gaap:CollateralPledgedMember2021-12-310000354707he:AmericanSavingsBankFSBMemberus-gaap:ResidentialMortgageMember2022-07-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ResidentialMortgageMember2021-07-012021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ResidentialMortgageMember2022-01-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ResidentialMortgageMember2021-01-012021-09-30he:loan0000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMember2022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMember2021-12-310000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMember2022-06-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMember2021-06-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMember2020-12-310000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMember2022-07-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMember2021-07-012021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMember2022-01-012022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMember2021-01-012021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMember2021-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMemberhe:MeasurementInputNoteInterestRateMember2022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMemberhe:MeasurementInputNoteInterestRateMember2021-12-310000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMemberus-gaap:MeasurementInputDiscountRateMember2022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:ServicingContractsMemberus-gaap:MeasurementInputDiscountRateMember2021-12-310000354707he:AmericanSavingsBankFSBMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ServicingContractsMember2022-09-300000354707he:AmericanSavingsBankFSBMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ServicingContractsMember2021-12-310000354707he:CommercialAccountHoldersMember2022-09-300000354707he:CommercialAccountHoldersMember2021-12-310000354707us-gaap:NondesignatedMemberus-gaap:InterestRateLockCommitmentsMember2022-09-300000354707us-gaap:NondesignatedMemberus-gaap:InterestRateLockCommitmentsMember2021-12-310000354707us-gaap:NondesignatedMemberus-gaap:ForwardContractsMember2022-09-300000354707us-gaap:NondesignatedMemberus-gaap:ForwardContractsMember2021-12-310000354707us-gaap:NondesignatedMember2022-09-300000354707us-gaap:NondesignatedMember2021-12-310000354707us-gaap:NondesignatedMemberus-gaap:InterestRateLockCommitmentsMember2022-07-012022-09-300000354707us-gaap:NondesignatedMemberus-gaap:InterestRateLockCommitmentsMember2021-07-012021-09-300000354707us-gaap:NondesignatedMemberus-gaap:InterestRateLockCommitmentsMember2022-01-012022-09-300000354707us-gaap:NondesignatedMemberus-gaap:InterestRateLockCommitmentsMember2021-01-012021-09-300000354707us-gaap:NondesignatedMemberus-gaap:ForwardContractsMember2022-07-012022-09-300000354707us-gaap:NondesignatedMemberus-gaap:ForwardContractsMember2021-07-012021-09-300000354707us-gaap:NondesignatedMemberus-gaap:ForwardContractsMember2022-01-012022-09-300000354707us-gaap:NondesignatedMemberus-gaap:ForwardContractsMember2021-01-012021-09-300000354707us-gaap:NondesignatedMember2022-07-012022-09-300000354707us-gaap:NondesignatedMember2021-07-012021-09-300000354707us-gaap:NondesignatedMember2022-01-012022-09-300000354707us-gaap:NondesignatedMember2021-01-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:CreditFacilitiesMember2021-05-14he:institution0000354707he:HEIFacilityMember2021-05-140000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:HawaiianElectricFacilityMember2021-05-140000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:HawaiianElectricFacilityMember2022-02-18he:extensionOption0000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:HawaiianElectricFacilityMember2022-02-182022-02-180000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:CreditFacilitiesMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberhe:CreditFacilitiesMember2021-12-310000354707us-gaap:SeniorNotesMemberhe:HEIFacilityMember2022-09-290000354707us-gaap:SeniorNotesMemberhe:UnsecuredSeniorNotesSeries2022CMember2022-09-300000354707us-gaap:SeniorNotesMemberhe:UnsecuredSeniorNotesGreenSeries2022DMember2022-09-300000354707srt:ScenarioForecastMember2022-11-012022-11-300000354707us-gaap:SeniorNotesMember2021-09-292021-09-290000354707us-gaap:SeniorNotesMember2021-09-29he:tranche0000354707us-gaap:SeniorNotesMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2021-09-292021-09-2900003547072021-09-290000354707us-gaap:SeniorNotesMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMemberus-gaap:SubsequentEventMember2022-10-262022-10-260000354707he:TermLoanMemberus-gaap:SubsequentEventMember2022-10-200000354707he:MahipapaLLCMemberhe:GreenEnergyTeamLLCMember2022-07-010000354707he:MahipapaLLCMemberhe:GreenEnergyTeamLLCMember2022-07-012022-07-010000354707us-gaap:SeniorNotesMemberhe:HawaiianElectricCompanyAndSubsidiariesMemberhe:UnsecuredSeniorNotesSeries2022AMember2022-05-110000354707us-gaap:SeniorNotesMemberhe:UnsecuredSeniorNotesSeries2022AMemberhe:HawaiianElectricParentMember2022-05-110000354707he:HawaiiElectricLightCompanyIncMemberus-gaap:SeniorNotesMemberhe:UnsecuredSeniorNotesSeries2022AMember2022-05-110000354707us-gaap:SeniorNotesMemberhe:UnsecuredSeniorNotesSeries2022AMemberhe:MauiElectricCompanyLimitedMember2022-05-110000354707us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-12-310000354707us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2021-12-310000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-12-310000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2021-12-310000354707us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-01-012022-09-300000354707us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2022-01-012022-09-300000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-09-300000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2022-01-012022-09-300000354707us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-09-300000354707us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2022-09-300000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-09-300000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2022-09-300000354707us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-12-310000354707us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2020-12-310000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2020-12-310000354707us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-09-300000354707us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2021-01-012021-09-300000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-09-300000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2021-01-012021-09-300000354707us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-09-300000354707us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2021-09-300000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-09-300000354707us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2021-09-300000354707us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000354707us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000354707us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300000354707us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-07-012022-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-07-012021-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2022-07-012022-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2021-07-012021-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2022-01-012022-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2021-01-012021-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberhe:AccumulatedDefinedBenefitPlansAdjustmentImpactOfDecisionAndOrdersOfThePublicUtilityCommissionIncludedInRegulatoryAssetsMember2022-07-012022-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberhe:AccumulatedDefinedBenefitPlansAdjustmentImpactOfDecisionAndOrdersOfThePublicUtilityCommissionIncludedInRegulatoryAssetsMember2021-07-012021-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberhe:AccumulatedDefinedBenefitPlansAdjustmentImpactOfDecisionAndOrdersOfThePublicUtilityCommissionIncludedInRegulatoryAssetsMember2022-01-012022-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberhe:AccumulatedDefinedBenefitPlansAdjustmentImpactOfDecisionAndOrdersOfThePublicUtilityCommissionIncludedInRegulatoryAssetsMember2021-01-012021-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300000354707us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2021-01-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberhe:AccumulatedDefinedBenefitPlansAdjustmentImpactOfDecisionAndOrdersOfThePublicUtilityCommissionIncludedInRegulatoryAssetsMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberhe:AccumulatedDefinedBenefitPlansAdjustmentImpactOfDecisionAndOrdersOfThePublicUtilityCommissionIncludedInRegulatoryAssetsMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberhe:AccumulatedDefinedBenefitPlansAdjustmentImpactOfDecisionAndOrdersOfThePublicUtilityCommissionIncludedInRegulatoryAssetsMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberhe:AccumulatedDefinedBenefitPlansAdjustmentImpactOfDecisionAndOrdersOfThePublicUtilityCommissionIncludedInRegulatoryAssetsMember2021-01-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000354707he:InterestRateSwapMaturingSeptember012035Member2022-09-300000354707he:InterestRateSwapMaturingSeptember012035Membersrt:MinimumMember2022-09-300000354707he:InterestRateSwapMaturingSeptember012035Membersrt:MaximumMember2022-09-300000354707he:InterestRateSwapMaturingSeptember012035Member2021-12-310000354707he:InterestRateSwapMaturingOctober012031Member2022-09-300000354707he:InterestRateSwapMaturingOctober012031Member2021-12-310000354707us-gaap:InterestRateSwapMember2022-09-300000354707us-gaap:InterestRateSwapMember2022-01-012022-09-300000354707us-gaap:InterestRateSwapMember2022-07-012022-09-300000354707us-gaap:InterestRateSwapMember2021-07-012021-09-300000354707us-gaap:InterestRateSwapMember2021-01-012021-09-300000354707he:ElectricEnergySalesResidentialMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesResidentialMember2022-07-012022-09-300000354707he:ElectricEnergySalesResidentialMemberus-gaap:AllOtherSegmentsMember2022-07-012022-09-300000354707he:ElectricEnergySalesResidentialMember2022-07-012022-09-300000354707he:ElectricEnergySalesResidentialMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesResidentialMember2022-01-012022-09-300000354707he:ElectricEnergySalesResidentialMemberus-gaap:AllOtherSegmentsMember2022-01-012022-09-300000354707he:ElectricEnergySalesResidentialMember2022-01-012022-09-300000354707he:ElectricEnergySalesCommercialMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesCommercialMember2022-07-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesCommercialMember2022-07-012022-09-300000354707he:ElectricEnergySalesCommercialMember2022-07-012022-09-300000354707he:ElectricEnergySalesCommercialMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesCommercialMember2022-01-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesCommercialMember2022-01-012022-09-300000354707he:ElectricEnergySalesCommercialMember2022-01-012022-09-300000354707he:ElectricEnergySalesLargeLightAndPowerMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesLargeLightAndPowerMember2022-07-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesLargeLightAndPowerMember2022-07-012022-09-300000354707he:ElectricEnergySalesLargeLightAndPowerMember2022-07-012022-09-300000354707he:ElectricEnergySalesLargeLightAndPowerMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesLargeLightAndPowerMember2022-01-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesLargeLightAndPowerMember2022-01-012022-09-300000354707he:ElectricEnergySalesLargeLightAndPowerMember2022-01-012022-09-300000354707he:ElectricEnergySalesOtherMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesOtherMember2022-07-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesOtherMember2022-07-012022-09-300000354707he:ElectricEnergySalesOtherMember2022-07-012022-09-300000354707he:ElectricEnergySalesOtherMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesOtherMember2022-01-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesOtherMember2022-01-012022-09-300000354707he:ElectricEnergySalesOtherMember2022-01-012022-09-300000354707he:BankFeesMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberhe:BankFeesMember2022-07-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:BankFeesMember2022-07-012022-09-300000354707he:BankFeesMember2022-07-012022-09-300000354707he:BankFeesMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberhe:BankFeesMember2022-01-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:BankFeesMember2022-01-012022-09-300000354707he:BankFeesMember2022-01-012022-09-300000354707he:OtherSalesMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberhe:OtherSalesMember2022-07-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:OtherSalesMember2022-07-012022-09-300000354707he:OtherSalesMember2022-07-012022-09-300000354707he:OtherSalesMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberhe:OtherSalesMember2022-01-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:OtherSalesMember2022-01-012022-09-300000354707he:OtherSalesMember2022-01-012022-09-300000354707he:RegulatoryRevenueMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberhe:RegulatoryRevenueMember2022-07-012022-09-300000354707he:RegulatoryRevenueMemberus-gaap:AllOtherSegmentsMember2022-07-012022-09-300000354707he:RegulatoryRevenueMember2022-07-012022-09-300000354707he:RegulatoryRevenueMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberhe:RegulatoryRevenueMember2022-01-012022-09-300000354707he:RegulatoryRevenueMemberus-gaap:AllOtherSegmentsMember2022-01-012022-09-300000354707he:RegulatoryRevenueMember2022-01-012022-09-300000354707he:BankInterestAndDividendIncomeMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberhe:BankInterestAndDividendIncomeMember2022-07-012022-09-300000354707he:BankInterestAndDividendIncomeMemberus-gaap:AllOtherSegmentsMember2022-07-012022-09-300000354707he:BankInterestAndDividendIncomeMember2022-07-012022-09-300000354707he:BankInterestAndDividendIncomeMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberhe:BankInterestAndDividendIncomeMember2022-01-012022-09-300000354707he:BankInterestAndDividendIncomeMemberus-gaap:AllOtherSegmentsMember2022-01-012022-09-300000354707he:BankInterestAndDividendIncomeMember2022-01-012022-09-300000354707he:OtherBankNoninterestIncomeMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberhe:OtherBankNoninterestIncomeMember2022-07-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:OtherBankNoninterestIncomeMember2022-07-012022-09-300000354707he:OtherBankNoninterestIncomeMember2022-07-012022-09-300000354707he:OtherBankNoninterestIncomeMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberhe:OtherBankNoninterestIncomeMember2022-01-012022-09-300000354707us-gaap:AllOtherSegmentsMemberhe:OtherBankNoninterestIncomeMember2022-01-012022-09-300000354707he:OtherBankNoninterestIncomeMember2022-01-012022-09-300000354707us-gaap:ProductAndServiceOtherMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberus-gaap:ProductAndServiceOtherMember2022-07-012022-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:ProductAndServiceOtherMember2022-07-012022-09-300000354707us-gaap:ProductAndServiceOtherMember2022-07-012022-09-300000354707us-gaap:ProductAndServiceOtherMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberus-gaap:ProductAndServiceOtherMember2022-01-012022-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:ProductAndServiceOtherMember2022-01-012022-09-300000354707us-gaap:ProductAndServiceOtherMember2022-01-012022-09-300000354707us-gaap:TransferredAtPointInTimeMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberus-gaap:TransferredAtPointInTimeMember2022-07-012022-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:TransferredAtPointInTimeMember2022-07-012022-09-300000354707us-gaap:TransferredAtPointInTimeMember2022-07-012022-09-300000354707us-gaap:TransferredAtPointInTimeMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberus-gaap:TransferredAtPointInTimeMember2022-01-012022-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:TransferredAtPointInTimeMember2022-01-012022-09-300000354707us-gaap:TransferredAtPointInTimeMember2022-01-012022-09-300000354707us-gaap:TransferredOverTimeMemberhe:ElectricUtilitySegmentMember2022-07-012022-09-300000354707he:BankingSegmentMemberus-gaap:TransferredOverTimeMember2022-07-012022-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:TransferredOverTimeMember2022-07-012022-09-300000354707us-gaap:TransferredOverTimeMember2022-07-012022-09-300000354707us-gaap:TransferredOverTimeMemberhe:ElectricUtilitySegmentMember2022-01-012022-09-300000354707he:BankingSegmentMemberus-gaap:TransferredOverTimeMember2022-01-012022-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:TransferredOverTimeMember2022-01-012022-09-300000354707us-gaap:TransferredOverTimeMember2022-01-012022-09-300000354707he:ElectricEnergySalesResidentialMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesResidentialMember2021-07-012021-09-300000354707he:ElectricEnergySalesResidentialMemberus-gaap:AllOtherSegmentsMember2021-07-012021-09-300000354707he:ElectricEnergySalesResidentialMember2021-07-012021-09-300000354707he:ElectricEnergySalesResidentialMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesResidentialMember2021-01-012021-09-300000354707he:ElectricEnergySalesResidentialMemberus-gaap:AllOtherSegmentsMember2021-01-012021-09-300000354707he:ElectricEnergySalesResidentialMember2021-01-012021-09-300000354707he:ElectricEnergySalesCommercialMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesCommercialMember2021-07-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesCommercialMember2021-07-012021-09-300000354707he:ElectricEnergySalesCommercialMember2021-07-012021-09-300000354707he:ElectricEnergySalesCommercialMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesCommercialMember2021-01-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesCommercialMember2021-01-012021-09-300000354707he:ElectricEnergySalesCommercialMember2021-01-012021-09-300000354707he:ElectricEnergySalesLargeLightAndPowerMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesLargeLightAndPowerMember2021-07-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesLargeLightAndPowerMember2021-07-012021-09-300000354707he:ElectricEnergySalesLargeLightAndPowerMember2021-07-012021-09-300000354707he:ElectricEnergySalesLargeLightAndPowerMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesLargeLightAndPowerMember2021-01-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesLargeLightAndPowerMember2021-01-012021-09-300000354707he:ElectricEnergySalesLargeLightAndPowerMember2021-01-012021-09-300000354707he:ElectricEnergySalesOtherMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesOtherMember2021-07-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesOtherMember2021-07-012021-09-300000354707he:ElectricEnergySalesOtherMember2021-07-012021-09-300000354707he:ElectricEnergySalesOtherMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberhe:ElectricEnergySalesOtherMember2021-01-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:ElectricEnergySalesOtherMember2021-01-012021-09-300000354707he:ElectricEnergySalesOtherMember2021-01-012021-09-300000354707he:BankFeesMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberhe:BankFeesMember2021-07-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:BankFeesMember2021-07-012021-09-300000354707he:BankFeesMember2021-07-012021-09-300000354707he:BankFeesMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberhe:BankFeesMember2021-01-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:BankFeesMember2021-01-012021-09-300000354707he:BankFeesMember2021-01-012021-09-300000354707he:OtherSalesMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberhe:OtherSalesMember2021-07-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:OtherSalesMember2021-07-012021-09-300000354707he:OtherSalesMember2021-07-012021-09-300000354707he:OtherSalesMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberhe:OtherSalesMember2021-01-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:OtherSalesMember2021-01-012021-09-300000354707he:OtherSalesMember2021-01-012021-09-300000354707he:RegulatoryRevenueMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberhe:RegulatoryRevenueMember2021-07-012021-09-300000354707he:RegulatoryRevenueMemberus-gaap:AllOtherSegmentsMember2021-07-012021-09-300000354707he:RegulatoryRevenueMember2021-07-012021-09-300000354707he:RegulatoryRevenueMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberhe:RegulatoryRevenueMember2021-01-012021-09-300000354707he:RegulatoryRevenueMemberus-gaap:AllOtherSegmentsMember2021-01-012021-09-300000354707he:RegulatoryRevenueMember2021-01-012021-09-300000354707he:BankInterestAndDividendIncomeMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberhe:BankInterestAndDividendIncomeMember2021-07-012021-09-300000354707he:BankInterestAndDividendIncomeMemberus-gaap:AllOtherSegmentsMember2021-07-012021-09-300000354707he:BankInterestAndDividendIncomeMember2021-07-012021-09-300000354707he:BankInterestAndDividendIncomeMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberhe:BankInterestAndDividendIncomeMember2021-01-012021-09-300000354707he:BankInterestAndDividendIncomeMemberus-gaap:AllOtherSegmentsMember2021-01-012021-09-300000354707he:BankInterestAndDividendIncomeMember2021-01-012021-09-300000354707he:OtherBankNoninterestIncomeMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberhe:OtherBankNoninterestIncomeMember2021-07-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:OtherBankNoninterestIncomeMember2021-07-012021-09-300000354707he:OtherBankNoninterestIncomeMember2021-07-012021-09-300000354707he:OtherBankNoninterestIncomeMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberhe:OtherBankNoninterestIncomeMember2021-01-012021-09-300000354707us-gaap:AllOtherSegmentsMemberhe:OtherBankNoninterestIncomeMember2021-01-012021-09-300000354707he:OtherBankNoninterestIncomeMember2021-01-012021-09-300000354707us-gaap:ProductAndServiceOtherMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberus-gaap:ProductAndServiceOtherMember2021-07-012021-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:ProductAndServiceOtherMember2021-07-012021-09-300000354707us-gaap:ProductAndServiceOtherMember2021-07-012021-09-300000354707us-gaap:ProductAndServiceOtherMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberus-gaap:ProductAndServiceOtherMember2021-01-012021-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:ProductAndServiceOtherMember2021-01-012021-09-300000354707us-gaap:ProductAndServiceOtherMember2021-01-012021-09-300000354707us-gaap:TransferredAtPointInTimeMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberus-gaap:TransferredAtPointInTimeMember2021-07-012021-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:TransferredAtPointInTimeMember2021-07-012021-09-300000354707us-gaap:TransferredAtPointInTimeMember2021-07-012021-09-300000354707us-gaap:TransferredAtPointInTimeMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberus-gaap:TransferredAtPointInTimeMember2021-01-012021-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:TransferredAtPointInTimeMember2021-01-012021-09-300000354707us-gaap:TransferredAtPointInTimeMember2021-01-012021-09-300000354707us-gaap:TransferredOverTimeMemberhe:ElectricUtilitySegmentMember2021-07-012021-09-300000354707he:BankingSegmentMemberus-gaap:TransferredOverTimeMember2021-07-012021-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:TransferredOverTimeMember2021-07-012021-09-300000354707us-gaap:TransferredOverTimeMember2021-07-012021-09-300000354707us-gaap:TransferredOverTimeMemberhe:ElectricUtilitySegmentMember2021-01-012021-09-300000354707he:BankingSegmentMemberus-gaap:TransferredOverTimeMember2021-01-012021-09-300000354707us-gaap:AllOtherSegmentsMemberus-gaap:TransferredOverTimeMember2021-01-012021-09-300000354707us-gaap:TransferredOverTimeMember2021-01-012021-09-300000354707us-gaap:PensionPlansDefinedBenefitMember2022-07-012022-09-300000354707us-gaap:PensionPlansDefinedBenefitMember2021-07-012021-09-300000354707us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-07-012022-09-300000354707us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-07-012021-09-300000354707us-gaap:PensionPlansDefinedBenefitMember2022-01-012022-09-300000354707us-gaap:PensionPlansDefinedBenefitMember2021-01-012021-09-300000354707us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-09-300000354707us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-01-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:PensionPlansDefinedBenefitMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:PensionPlansDefinedBenefitMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-07-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-07-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:PensionPlansDefinedBenefitMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:PensionPlansDefinedBenefitMember2021-01-012021-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-01-012021-09-300000354707he:EquityAndIncentivePlanMember2014-03-012014-03-010000354707he:EquityAndIncentivePlanMember2022-09-300000354707he:NonemployeeDirectorStockPlanMember2022-09-300000354707us-gaap:CommonStockMember2022-07-012022-09-300000354707us-gaap:CommonStockMember2021-07-012021-09-300000354707us-gaap:CommonStockMember2022-01-012022-09-300000354707us-gaap:CommonStockMember2021-01-012021-09-300000354707us-gaap:RestrictedStockUnitsRSUMember2022-06-300000354707us-gaap:RestrictedStockUnitsRSUMember2021-06-300000354707us-gaap:RestrictedStockUnitsRSUMember2021-12-310000354707us-gaap:RestrictedStockUnitsRSUMember2020-12-310000354707us-gaap:RestrictedStockUnitsRSUMember2022-07-012022-09-300000354707us-gaap:RestrictedStockUnitsRSUMember2021-07-012021-09-300000354707us-gaap:RestrictedStockUnitsRSUMember2022-01-012022-09-300000354707us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-09-300000354707us-gaap:RestrictedStockUnitsRSUMember2022-09-300000354707us-gaap:RestrictedStockUnitsRSUMember2021-09-300000354707he:LongTermIncentivePlanMember2022-01-012022-09-300000354707he:LongTermIncentivePlanLinkedToTotalReturnToShareholdersMember2022-06-300000354707he:LongTermIncentivePlanLinkedToTotalReturnToShareholdersMember2021-06-300000354707he:LongTermIncentivePlanLinkedToTotalReturnToShareholdersMember2021-12-310000354707he:LongTermIncentivePlanLinkedToTotalReturnToShareholdersMember2020-12-310000354707he:LongTermIncentivePlanLinkedToTotalReturnToShareholdersMember2022-07-012022-09-300000354707he:LongTermIncentivePlanLinkedToTotalReturnToShareholdersMember2021-07-012021-09-300000354707he:LongTermIncentivePlanLinkedToTotalReturnToShareholdersMember2022-01-012022-09-300000354707he:LongTermIncentivePlanLinkedToTotalReturnToShareholdersMember2021-01-012021-09-300000354707he:LongTermIncentivePlanLinkedToTotalReturnToShareholdersMember2022-09-300000354707he:LongTermIncentivePlanLinkedToTotalReturnToShareholdersMember2021-09-300000354707he:LongTermIncentivePlanAwardsLinkedToOtherPerformanceConditionsMember2022-06-300000354707he:LongTermIncentivePlanAwardsLinkedToOtherPerformanceConditionsMember2021-06-300000354707he:LongTermIncentivePlanAwardsLinkedToOtherPerformanceConditionsMember2021-12-310000354707he:LongTermIncentivePlanAwardsLinkedToOtherPerformanceConditionsMember2020-12-310000354707he:LongTermIncentivePlanAwardsLinkedToOtherPerformanceConditionsMember2022-07-012022-09-300000354707he:LongTermIncentivePlanAwardsLinkedToOtherPerformanceConditionsMember2021-07-012021-09-300000354707he:LongTermIncentivePlanAwardsLinkedToOtherPerformanceConditionsMember2022-01-012022-09-300000354707he:LongTermIncentivePlanAwardsLinkedToOtherPerformanceConditionsMember2021-01-012021-09-300000354707he:LongTermIncentivePlanAwardsLinkedToOtherPerformanceConditionsMember2022-09-300000354707he:LongTermIncentivePlanAwardsLinkedToOtherPerformanceConditionsMember2021-09-300000354707us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2022-09-300000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2022-09-300000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2022-09-300000354707us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberhe:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:FairValueInputsLevel1Member2022-09-300000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberhe:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:FairValueInputsLevel2Member2022-09-300000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberhe:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:FairValueInputsLevel3Member2022-09-300000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2022-09-300000354707us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2021-12-310000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2021-12-310000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2021-12-310000354707us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000354707he:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberhe:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:FairValueInputsLevel1Member2021-12-310000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberhe:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:FairValueInputsLevel2Member2021-12-310000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberhe:HawaiianElectricCompanyAndSubsidiariesMemberus-gaap:FairValueInputsLevel3Member2021-12-310000354707us-gaap:EstimateOfFairValueFairValueDisclosureMemberhe:HawaiianElectricCompanyAndSubsidiariesMember2021-12-310000354707he:BankingSegmentMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:ForwardContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:ForwardContractsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForwardContractsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707he:BankingSegmentMemberus-gaap:ForwardContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:ForwardContractsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707he:BankingSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ForwardContractsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707us-gaap:InterestRateSwapMemberus-gaap:AllOtherSegmentsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707us-gaap:InterestRateSwapMemberus-gaap:AllOtherSegmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707us-gaap:InterestRateSwapMemberus-gaap:AllOtherSegmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707us-gaap:InterestRateSwapMemberus-gaap:AllOtherSegmentsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707us-gaap:InterestRateSwapMemberus-gaap:AllOtherSegmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707us-gaap:InterestRateSwapMemberus-gaap:AllOtherSegmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300000354707us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000354707us-gaap:AssetBackedSecuritiesMember2022-06-300000354707us-gaap:AssetBackedSecuritiesMember2021-06-300000354707us-gaap:AssetBackedSecuritiesMember2021-12-310000354707us-gaap:AssetBackedSecuritiesMember2020-12-310000354707us-gaap:AssetBackedSecuritiesMember2022-07-012022-09-300000354707us-gaap:AssetBackedSecuritiesMember2021-07-012021-09-300000354707us-gaap:AssetBackedSecuritiesMember2022-01-012022-09-300000354707us-gaap:AssetBackedSecuritiesMember2021-01-012021-09-300000354707us-gaap:AssetBackedSecuritiesMember2022-09-300000354707us-gaap:AssetBackedSecuritiesMember2021-09-300000354707us-gaap:MeasurementInputDiscountRateMember2022-09-300000354707us-gaap:FairValueMeasurementsNonrecurringMemberhe:AmericanSavingsBankFSBMember2021-01-012021-09-300000354707us-gaap:FairValueMeasurementsNonrecurringMemberhe:AmericanSavingsBankFSBMember2022-01-012022-09-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
 FORM 10-Q
 
      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2022
 OR
              TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Exact Name of Registrant as Specified in Its Charter Commission File Number I.R.S. Employer Identification No.
HAWAIIAN ELECTRIC INDUSTRIES, INC.   1-8503   99-0208097
and Principal Subsidiary
HAWAIIAN ELECTRIC COMPANY, INC.   1-4955   99-0040500
State of Hawaii
(State or other jurisdiction of incorporation or organization)
 
Hawaiian Electric Industries, Inc. – 1001 Bishop Street, Suite 2900, Honolulu, Hawaii  96813
Hawaiian Electric Company, Inc. – 1099 Alakea Street, Suite 2200, Honolulu, Hawaii  96813
(Address of principal executive offices and zip code)
 
Hawaiian Electric Industries, Inc. – (808) 543-5662
Hawaiian Electric Company, Inc. – (808) 543-7771
(Registrant’s telephone number, including area code) 
1001 Bishop Street, Suite 2500, Honolulu, Hawaii 96813 - Hawaiian Electric Company, Inc. (Hawaiian Electric)
(Former name, former address and former fiscal year, if changed since last report)
Registrant Title of each class Trading Symbol(s) Name of each exchange on which registered
Hawaiian Electric Industries, Inc. Common Stock, Without Par Value HE New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Hawaiian Electric Industries, Inc. Yes No   Hawaiian Electric Company, Inc. Yes No
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Hawaiian Electric Industries, Inc. Yes No   Hawaiian Electric Company, Inc. Yes No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Securities Exchange Act of 1934.
Hawaiian Electric Industries, Inc.:   Hawaiian Electric Company, Inc.:
Large accelerated filer Smaller reporting company Large accelerated filer Smaller reporting company
Accelerated filer Emerging growth company Accelerated filer Emerging growth company
Non-accelerated filer Non-accelerated filer
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Hawaiian Electric Industries, Inc. Hawaiian Electric Company, Inc.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Hawaiian Electric Industries, Inc. Yes No Hawaiian Electric Company, Inc. Yes No
Securities registered pursuant to 12(b) of the Act:
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuers’ classes of common stock, as of the latest practicable date.
Class of Common Stock  
Outstanding October 25, 2022
Hawaiian Electric Industries, Inc. (Without Par Value)   109,470,439  Shares
Hawaiian Electric Company, Inc. ($6-2/3 Par Value)   17,753,533  Shares (not publicly traded)
Hawaiian Electric Industries, Inc. (HEI) is the sole holder of Hawaiian Electric Company, Inc. (Hawaiian Electric) common stock.
This combined Form 10-Q is separately filed by HEI and Hawaiian Electric. Information contained herein relating to any individual registrant is filed by such registrant on its own behalf. No registrant makes any representation as to information relating to the other registrant, except that information relating to Hawaiian Electric is also attributed to HEI.



Hawaiian Electric Industries, Inc. and Subsidiaries
Hawaiian Electric Company, Inc. and Subsidiaries
Form 10-Q—Quarter ended September 30, 2022
 
TABLE OF CONTENTS
 
Page No.  
   
 
1
   
1
 
three and nine months ended September 30, 2022 and 2021
2
 
three and nine months ended September 30, 2022 and 2021
3
 
4
 
three and nine months ended September 30, 2022 and 2021
5
 
nine months ended September 30, 2022 and 2021
   
7
 
three and nine months ended September 30, 2022 and 2021
7
 
three and nine months ended September 30, 2022 and 2021
8
 
 
three and nine months ended September 30, 2022 and 2021
 
nine months ended September 30, 2022 and 2021
 
 
 
 
   
 
 
i


Hawaiian Electric Industries, Inc. and Subsidiaries
Hawaiian Electric Company, Inc. and Subsidiaries
Form 10-Q—Quarter ended September 30, 2022
GLOSSARY OF TERMS
Terms   Definitions
ACL Allowance for credit losses, which is the current credit loss standard, requires recording the allowance based on the expected loss model
AES Hawaii AES Hawaii, Inc.
AOCI Accumulated other comprehensive income/(loss)
ARA Annual revenue adjustment
ASB American Savings Bank, F.S.B., a wholly owned subsidiary of ASB Hawaii, Inc.
ASB Hawaii ASB Hawaii, Inc., a wholly owned subsidiary of Hawaiian Electric Industries, Inc. and the parent company of American Savings Bank, F.S.B.
ASU Accounting Standards Update
CARES Act The Coronavirus Aid, Relief, and Economic Security Act enacted March 27, 2020
CBRE Community-based renewable energy
Company Hawaiian Electric Industries, Inc. and its direct and indirect subsidiaries, including, without limitation, Hawaiian Electric Company, Inc. and its subsidiaries (listed under Hawaiian Electric); ASB Hawaii, Inc. and its subsidiary, American Savings Bank, F.S.B. and Pacific Current, LLC and its subsidiaries (listed under Pacific Current). The Old Oahu Tug Service, Inc. was dissolved in March 2022.
Consumer Advocate Division of Consumer Advocacy, Department of Commerce and Consumer Affairs of the State of Hawaii
CSSM Collective Shared Savings Mechanism
D&O Decision and order from the PUC
DER Distributed energy resources
DRIP HEI Dividend Reinvestment and Stock Purchase Plan
ECRC Energy cost recovery clause
EIP 2010 Equity and Incentive Plan, as amended and restated
EPA Environmental Protection Agency — federal
EPRM Exceptional Project Recovery Mechanism
EPS Earnings per share
ESM Earnings Sharing Mechanism
EVE Economic value of equity
Exchange Act Securities Exchange Act of 1934
FASB Financial Accounting Standards Board
FDIC Federal Deposit Insurance Corporation
federal U.S. Government
FHLB Federal Home Loan Bank
FHLMC Federal Home Loan Mortgage Corporation
Fitch Fitch Ratings, Inc.
FNMA Federal National Mortgage Association
FRB Federal Reserve Board
GAAP Accounting principles generally accepted in the United States of America
GHG Greenhouse gas
GNMA Government National Mortgage Association
GSPA Grid Services Purchase Agreement
Hamakua Energy Hamakua Energy, LLC, an indirect subsidiary of Pacific Current
Hawaii Electric Light Hawaii Electric Light Company, Inc., an electric utility subsidiary of Hawaiian Electric Company, Inc.
ii

GLOSSARY OF TERMS, continued
Terms   Definitions
Hawaiian Electric Hawaiian Electric Company, Inc., an electric utility subsidiary of Hawaiian Electric Industries, Inc. and parent company of Hawaii Electric Light Company, Inc., Maui Electric Company, Limited and Renewable Hawaii, Inc.
HEI Hawaiian Electric Industries, Inc., direct parent company of Hawaiian Electric Company, Inc., ASB Hawaii, Inc. and Pacific Current, LLC. The Old Oahu Tug Service, Inc. was dissolved in March 2022.
HEIRSP Hawaiian Electric Industries Retirement Savings Plan
HELOC Home equity line of credit
HPOWER City and County of Honolulu with respect to a power purchase agreement for a refuse-fired plant
IPP Independent power producer
IRLCs Interest rate lock commitments
Kalaeloa Kalaeloa Partners, L.P.
kWh Kilowatthour/s (as applicable)
LMI Low-to-moderate income
LTIP Long-term incentive plan
Mahipapa Mahipapa, LLC, a subsidiary of Pacific Current
Maui Electric Maui Electric Company, Limited, an electric utility subsidiary of Hawaiian Electric Company, Inc.
Mauo Mauo, LLC, a subsidiary of Pacific Current
MPIR Major Project Interim Recovery
MRP Multi-year rate period
MSRs Mortgage servicing rights
MW Megawatt/s (as applicable)
NII Net interest income
NPBC Net periodic benefit costs
NPPC Net periodic pension costs
O&M Other operation and maintenance
OCC Office of the Comptroller of the Currency
OPEB Postretirement benefits other than pensions
Pacific Current
Pacific Current, LLC, a wholly owned subsidiary of HEI and parent company of Hamakua Holdings, LLC, Mauo, LLC, Alenuihaha Developments, LLC, Kaʻieʻie Waho Company, LLC, Kaʻaipuaʻa, LLC, Upena, LLC and Mahipapa, LLC
PBR Performance-based regulation
PIMs Performance incentive mechanisms
PPA Power purchase agreement
PPAC Purchased power adjustment clause
PUC Public Utilities Commission of the State of Hawaii
PV Photovoltaic
RAM Revenue adjustment mechanism
RBA Revenue balancing account
RFP Request for proposals
ROACE Return on average common equity
RORB Return on rate base
RPS Renewable portfolio standards
SBA Small Business Administration
SEC Securities and Exchange Commission
See Means the referenced material is incorporated by reference
SOFR Secured Overnight Financing Rate
TDR Troubled debt restructuring
Utilities Hawaiian Electric Company, Inc., Hawaii Electric Light Company, Inc. and Maui Electric Company, Limited
VIEs Variable interest entities
iii


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This report and other presentations made by Hawaiian Electric Industries, Inc. (HEI) and Hawaiian Electric Company, Inc. (Hawaiian Electric) and their subsidiaries contain “forward-looking statements,” which include statements that are predictive in nature, depend upon or refer to future events or conditions and usually include words such as “will,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “predicts,” “estimates” or similar expressions. In addition, any statements concerning future financial performance, ongoing business strategies or prospects or possible future actions are also forward-looking statements. Forward-looking statements are based on current expectations and projections about future events and are subject to risks, uncertainties and the accuracy of assumptions concerning HEI and its subsidiaries (collectively, the Company), the performance of the industries in which they do business and economic, political and market factors, among other things. These forward-looking statements are not guarantees of future performance and actual results and financial condition may differ materially from those indicated in the forward-looking statements.
Risks, uncertainties and other important factors that could cause actual results to differ materially from those described in forward-looking statements and from historical results include, but are not limited to, the following:
international, national and local economic and political conditions—including the state of the Hawaii tourism, defense and construction industries; the strength or weakness of the Hawaii and continental U.S. real estate markets (including the fair value and/or the actual performance of collateral underlying loans held by ASB, which could result in higher loan loss provisions and write-offs); decisions concerning the extent of the presence of the federal government and military in Hawaii; the implications and potential impacts of future Federal government shutdowns, including the impact to our customers’ ability to pay their electric bills and/or bank loans and the impact on the state of Hawaii economy; the implications and potential impacts of U.S. and foreign capital and credit market conditions and federal, state and international responses to those conditions; the potential impacts of global and local developments (including global economic conditions and uncertainties, unrest, terrorist acts, wars (such as the Russia-Ukraine war), conflicts, political protests, deadly virus epidemic or other crisis); the effects of changes that have or may occur in U.S. policy, such as with respect to immigration and trade; and pandemics;
the extent of the impact of the COVID-19 pandemic, including the duration, spread, severity and any recurrence of the COVID-19 pandemic due to new variants or insufficient vaccinations, the duration and scope of related government orders and restrictions, the impact on our employees, customers and suppliers, and the impact of the COVID-19 pandemic on the overall demand or ability to pay for the Company’s goods and services, all of which could be affected by the pace of distribution, administration, and efficacy of COVID-19 vaccines over the short- and long-term, as well as the proportion of the population vaccinated;
ability to adequately address risks and capitalize on opportunities related to our environmental, social and governance priority areas, which currently include decarbonization, economic health and affordability, reliability and resilience, secure digitalization, diversity, equity and inclusion, employee engagement, and climate-related risks and opportunities;
citizen activism, including civil unrest, especially in times of severe economic depression and social divisiveness, which could negatively impact customers and employees, impair the ability of the Company and the Utilities to operate and maintain their facilities in an effective and safe manner, and citizen or stakeholder activism that could delay the construction, increase project costs or preclude the completion, of third-party or Utility projects that are required to meet electricity demand, resilience and reliability objectives and renewable portfolio standards (RPS) and other climate-related goals;
the effects of future actions or inaction of the U.S. government or related agencies, including those related to the U.S. debt ceiling or budget funding, monetary policy, trade policy and tariffs, energy and environmental policy, and other policy and regulatory changes advanced or proposed by President Biden and his administration;
weather, natural disasters (e.g., hurricanes, earthquakes, tsunamis, lightning strikes, lava flows and the increasing effects of climate change, such as more severe storms, flooding, droughts, heat waves, and rising sea levels) and wildfires, including their impact on the resilience and reliability and cost of the Company’s and Utilities’ operations and the economy;
the timing, speed and extent of changes in interest rates and the shape of the yield curve, which could result in lower portfolio yields and net interest margin, or higher borrowing costs;
the ability of the Company and the Utilities to access the credit and capital markets (e.g., to obtain commercial paper and other short-term and long-term debt financing, including lines of credit, and, in the case of HEI, to issue common stock) under volatile and challenging market conditions, and the potential higher cost of such financings, if available;
the risks inherent in changes in the value of the Company’s pension and other retirement plan assets and ASB’s securities available for sale, and the risks inherent in changes in the value of the Company’s pension liabilities, including changes driven by interest rates and mortality improvements;
changes in laws, regulations (including tax regulations), market conditions, interest rates and other factors that result in changes in assumptions used to calculate retirement benefits costs and funding requirements;
increasing competition in the banking industry from traditional financial institutions as well as from non-traditional providers of financial services, including financial service subsidiaries of commercial and manufacturing companies (e.g., increased price competition for loans and deposits, or an outflow of deposits to alternative investments or platforms, which may have an adverse impact on ASB’s net interest margin and portfolio growth);
iv


the potential delay by the Public Utilities Commission of the State of Hawaii (PUC) in considering (and potential disapproval of actual or proposed) renewable energy proposals and related costs; reliance by the Utilities on outside parties such as the state, independent power producers (IPPs) and developers; supply-chain challenges; and uncertainties surrounding technologies, solar power, wind power, biofuels, environmental assessments required to meet RPS and other climate-related goals; the impacts of implementation of the renewable energy proposals on future costs of electricity and potential penalties imposed by the PUC for delays in the commercial operations of renewable energy projects;
the ability of the Utilities to develop, implement and recover the costs of implementing the Utilities’ action plans included in their updated Power Supply Improvement Plans, Demand Response Portfolio Plan, Distributed Generation Interconnection Plan, Grid Modernization Plans, and business model changes, which have been and are continuing to be developed and updated in response to the orders issued by the PUC, the PUC’s April 2014 statement of its inclinations on the future of Hawaii’s electric utilities and the vision, business strategies and regulatory policy changes required to align the Utilities’ business model with customer interests and the state’s public policy goals, and subsequent orders of the PUC;
the ability of the Utilities to recover undepreciated cost of fossil fuel generating units, if they are required to be retired before the end of their expected useful life;
capacity and supply constraints or difficulties, especially if generating units (utility-owned or IPP-owned) fail or measures such as demand-side management, distributed generation, combined heat and power or other firm capacity supply-side resources fall short of achieving their forecasted benefits or are otherwise insufficient to reduce or meet peak demand;
high and/or volatile fuel prices, which increases working capital requirements and customer bills, or delivery of adequate fuel by suppliers (including as a result of the Russia-Ukraine war), which could affect the reliability of utility operations, and the continued availability to the electric utilities of their energy cost recovery clauses (ECRCs);
the continued availability to the electric utilities or modifications of other cost recovery mechanisms, including the purchased power adjustment clauses (PPACs), annual revenue adjustment (ARA) and pension and postretirement benefits other than pensions (OPEB) tracking mechanisms, and the continued decoupling of revenues from sales to mitigate the effects of declining kilowatt-hour sales;
the ability of the Utilities to recover increasing costs and earn a reasonable return on capital investments not covered by the ARA, while providing the customer dividend required by performance-based regulation (PBR);
the ability of the Utilities to achieve performance incentive goals currently in place;
the impact from the PUC’s implementation of PBR for the Utilities pursuant to Act 005, Session Laws 2018, including the potential addition of new performance incentive mechanisms (PIMs), third-party proposals adopted by the PUC in its implementation of PBR, and the implications of not achieving performance incentive goals;
the impact of fuel price levels and volatility on customer satisfaction and political and regulatory support for the Utilities;
unfavorable changes in economic conditions, such as sustained inflation, higher interest rates or recession, may negatively impact the ability of the Company’s customers to pay their utility bills or loan payments, reduce loan production, and increase operating costs of the Utilities or Bank that cannot be passed on to, or recovered, from customers;
the risks associated with increasing reliance on renewable energy, including the availability and cost of non-fossil fuel supplies for renewable energy generation and the operational impacts of adding intermittent sources of renewable energy to the electric grid;
the growing risk that energy production from renewable generating resources may be curtailed and the interconnection of additional resources will be constrained as more generating resources are added to the Utilities’ electric systems and as customers reduce their energy usage;
the ability of IPPs to deliver the firm capacity anticipated in their power purchase agreements (PPAs);
the potential that, as IPP contracts near the end of their terms, there may be less economic incentive for the IPPs to make investments in their units to ensure the availability of their units;
the ability of the Utilities to negotiate, periodically, favorable agreements for significant resources such as fuel supply contracts and collective bargaining agreements and avoid or mitigate labor disputes and work stoppages;
new technological developments that could affect the operations and prospects of the Utilities and ASB or their competitors such as the commercial development of energy storage and microgrids and banking through alternative channels, including use of digital currencies, which could include a central bank digital currency;
cybersecurity risks and the potential for cyber incidents, including potential incidents at HEI, its subsidiaries (including at ASB branches and electric utility plants), its third-party service providers, contractors and customers with whom they have shared data (IPPs, distributed energy resources (DER) aggregators and customers enrolled under DER programs) and incidents at data processing centers used, to the extent not prevented by intrusion detection and prevention systems, anti-virus software, firewalls and other general IT controls;
failure to achieve remaining cost savings commitment related to the management audit committed savings of $33 million over the 2021 to 2025 multi-year rate period (MRP);
federal, state, county and international governmental and regulatory actions, such as existing, new and changes in laws, rules and regulations applicable to HEI, the Utilities and ASB (including changes in taxation and tax rates, increases in capital requirements, regulatory policy changes, environmental laws and regulations (including resulting compliance costs and risks of fines and penalties and/or liabilities), the regulation of greenhouse gas emissions, governmental fees and assessments (such as
v


Federal Deposit Insurance Corporation assessments), and potential carbon pricing or “cap and trade” legislation that may fundamentally alter costs to produce electricity and accelerate the move to renewable generation);
developments in laws, regulations and policies governing protections for historic, archaeological and cultural sites, and plant and animal species and habitats, as well as developments in the implementation and enforcement of such laws, regulations and policies;
discovery of conditions that may be attributable to historical chemical releases, including any necessary investigation and remediation, and any associated enforcement, litigation or regulatory oversight;
decisions by the PUC in rate cases and other proceedings (including the risks of delays in the timing of decisions, adverse changes in final decisions from interim decisions and the disallowance of project costs as a result of adverse regulatory audit reports or otherwise);
decisions by the PUC and by other agencies and courts on land use, environmental and other permitting issues (such as required corrective actions, restrictions and penalties that may arise, such as with respect to environmental conditions or RPS);
potential enforcement actions by the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation (FDIC) and/or other governmental authorities (such as consent orders, required corrective actions, restrictions and penalties that may arise, for example, with respect to compliance deficiencies under existing or new banking and consumer protection laws and regulations or with respect to capital adequacy);
the risks associated with the geographic concentration of HEI’s businesses and ASB’s loans, ASB’s concentration in a single product type (i.e., first mortgages) and ASB’s significant credit relationships (i.e., concentrations of large loans and/or credit lines with certain customers);
changes in accounting principles applicable to HEI and its subsidiaries, including the adoption of new U.S. accounting standards, the potential discontinuance of regulatory accounting related to PBR or other regulatory changes, the effects of potentially required consolidation of variable interest entities (VIEs), or required finance lease or on-balance-sheet operating lease accounting for PPAs with IPPs;
downgrades by securities rating agencies in their ratings of the securities of HEI and Hawaiian Electric and their impact on results of financing efforts;
faster than expected loan prepayments that can cause a decrease in net interest income and portfolio yields, an acceleration of the amortization of premiums on loans and investments and the impairment of mortgage-servicing assets of ASB;
changes in ASB’s loan portfolio credit profile and asset quality and/or mix, which may increase or decrease the required level of provision for credit losses, allowance for credit losses (ACL) and charge-offs;
changes in ASB’s deposit cost or mix which may have an adverse impact on ASB’s cost of funds;
unanticipated changes from the expected discontinuance of LIBOR and the transition to an alternative reference rate, which may include adverse impacts to the Company’s cost of capital, loan portfolio and interest income on loans;
the final outcome of tax positions taken by HEI and its subsidiaries;
the risks of suffering losses and incurring liabilities that are uninsured (e.g., damages to the Utilities’ transmission and distribution system and losses from business interruption) or underinsured (e.g., losses not covered as a result of insurance deductibles or other exclusions or exceeding policy limits), and the risks associated with the operation of transmission and distribution assets and power generation facilities, including public and employee safety issues, and assets causing or contributing to wildfires;
the ability of the Company’s non-regulated subsidiary, Pacific Current, LLC (Pacific Current), to achieve its performance and growth objectives, which in turn could affect its ability to service its non-recourse debt;
the Company’s reliance on third parties and the risk of their non-performance, which has increased due to the impact from the COVID-19 pandemic; and
other risks or uncertainties described elsewhere in this report and in other reports (e.g., “Item 1A. Risk Factors” in the Company’s Annual Report on Form 10-K) previously and subsequently filed by HEI and/or Hawaiian Electric with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date of the report, presentation or filing in which they are made. Except to the extent required by the federal securities laws, HEI, Hawaiian Electric, ASB, Pacific Current and their subsidiaries undertake no obligation to publicly update or revise any forward-looking statements, whether written or oral and whether as a result of new information, future events or otherwise.
vi


PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

Hawaiian Electric Industries, Inc. and Subsidiaries
Condensed Consolidated Statements of Income (unaudited)
Three months ended September 30 Nine months ended September 30
(in thousands, except per share amounts) 2022 2021 2022 2021
Revenues        
Electric utility $ 955,971  $ 679,499  $ 2,483,636  $ 1,846,242 
Bank 81,411  76,208  231,850  230,599 
Other 4,815  1,197  7,386  3,266 
Total revenues 1,042,197  756,904  2,722,872  2,080,107 
Expenses        
Electric utility 876,922  604,307  2,259,838  1,634,252 
Bank 54,311  51,151  152,797  130,440 
Other 8,849  4,130  22,178  18,212 
Total expenses 940,082  659,588  2,434,813  1,782,904 
Operating income (loss)        
Electric utility 79,049  75,192  223,798  211,990 
Bank 27,100  25,057  79,053  100,159 
Other (4,034) (2,933) (14,792) (14,946)
Total operating income 102,115  97,316  288,059  297,203 
Retirement defined benefits credit—other than service costs 1,039  1,058  3,528  4,709 
Interest expense, net—other than on deposit liabilities and other bank borrowings
(26,626) (23,477) (75,940) (70,530)
Allowance for borrowed funds used during construction 825  827  2,401  2,386 
Allowance for equity funds used during construction 2,552  2,427  7,431  6,995 
Gain on sales of investment securities, net and equity-method investment —  —  8,123  528 
Income before income taxes 79,905  78,151  233,602  241,291 
Income taxes 17,352  14,265  48,395  48,229 
Net income 62,553  63,886  185,207  193,062 
Preferred stock dividends of subsidiaries 471  471  1,417  1,417 
Net income for common stock $ 62,082  $ 63,415  $ 183,790  $ 191,645 
Basic earnings per common share $ 0.57  $ 0.58  $ 1.68  $ 1.75 
Diluted earnings per common share $ 0.57  $ 0.58  $ 1.68  $ 1.75 
Weighted-average number of common shares outstanding 109,470  109,311  109,421  109,272 
Net effect of potentially dilutive shares 235  264  291  316 
Weighted-average shares assuming dilution 109,705  109,575  109,712  109,588 
This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K.

1


Hawaiian Electric Industries, Inc. and Subsidiaries
Condensed Consolidated Statements of Comprehensive Income (unaudited)
  Three months ended September 30 Nine months ended September 30
(in thousands) 2022 2021 2022 2021
Net income for common stock $ 62,082  $ 63,415  $ 183,790  $ 191,645 
Other comprehensive income (loss), net of taxes:        
Net unrealized losses on available-for-sale investment securities:        
Net unrealized losses on available-for-sale investment securities arising during the period, net of taxes of $(36,230), $(4,212), $(112,838) and $(14,614), respectively
(98,965) (11,507) (308,229) (39,921)
Reclassification adjustment for net realized gains included in net income, net of taxes of nil, nil, nil and $(142), respectively
—  —  —  (387)
Derivatives qualifying as cash flow hedges:        
Unrealized interest rate hedging gains arising during the period, net of taxes of $901, $48, $2,220 and $347, respectively
2,597  139  6,400  1,000 
Reclassification adjustment for net realized losses included in net income, net of taxes of $19, $3, $56 and $3, respectively
53  161 
Retirement benefit plans:        
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes of $1,943, $985, $3,549 and $5,155, respectively
5,606  2,853  10,229  14,871 
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $(1,839), $(971), $(3,320) and $(5,002), respectively
(5,303) (2,799) (9,572) (14,421)
Other comprehensive loss, net of taxes (96,012) (11,305) (301,011) (38,849)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc. $ (33,930) $ 52,110  $ (117,221) $ 152,796 
This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K.

2


Hawaiian Electric Industries, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets (unaudited) 
(dollars in thousands) September 30, 2022 December 31, 2021
Assets    
Cash and cash equivalents $ 175,280  $ 305,551 
Restricted cash 3,898  5,911 
Accounts receivable and unbilled revenues, net 519,774  344,213 
Available-for-sale investment securities, at fair value 2,232,336  2,574,618 
Held-to-maturity investment securities, at amortized cost 510,879  522,270 
Stock in Federal Home Loan Bank, at cost 15,000  10,000 
Loans held for investment, net 5,616,984  5,139,984 
Loans held for sale, at lower of cost or fair value 3,101  10,404 
Property, plant and equipment, net of accumulated depreciation of $3,168,879 and $3,028,130 at September 30, 2022 and December 31, 2021, respectively
5,599,937  5,392,068 
Operating lease right-of-use assets 121,302  122,416 
Regulatory assets 497,188  565,543 
Other 886,999  747,469 
Goodwill 82,190  82,190 
Total assets $ 16,264,868  $ 15,822,637 
Liabilities and shareholders’ equity    
Liabilities    
Accounts payable $ 213,587  $ 205,544 
Interest and dividends payable 36,158  19,889 
Deposit liabilities 8,258,885  8,172,212 
Short-term borrowings—other than bank 171,125  53,998 
Other bank borrowings 409,040  88,305 
Long-term debt, net—other than bank 2,430,326  2,321,937 
Deferred income taxes 263,929  384,760 
Operating lease liabilities 130,914  136,760 
Finance lease liabilities 49,202  — 
Regulatory liabilities 1,030,376  996,768 
Defined benefit pension and other postretirement benefit plans liability 333,664  348,072 
Other 740,447  669,215 
Total liabilities 14,067,653  13,397,460 
Preferred stock of subsidiaries - not subject to mandatory redemption 34,293  34,293 
Commitments and contingencies (Notes 3 and 4)
Shareholders’ equity    
Preferred stock, no par value, authorized 10,000,000 shares; issued: none
—  — 
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 109,470,325 shares and 109,311,785 shares at September 30, 2022 and December 31, 2021, respectively
1,689,672  1,685,496 
Retained earnings 826,794  757,921 
Accumulated other comprehensive loss, net of tax benefits (353,544) (52,533)
Total shareholders’ equity 2,162,922  2,390,884 
Total liabilities and shareholders’ equity $ 16,264,868  $ 15,822,637 
This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K.
3


Hawaiian Electric Industries, Inc. and Subsidiaries
Condensed Consolidated Statements of Changes in Shareholders’ Equity (unaudited) 
  Common stock Retained Accumulated
other
comprehensive
 
(in thousands) Shares Amount Earnings income (loss) Total
Balance, December 31, 2021 109,312  $ 1,685,496  $ 757,921  $ (52,533) $ 2,390,884 
Net income for common stock —  —  69,167  —  69,167 
Other comprehensive loss, net of tax benefits —  —  —  (117,159) (117,159)
Share-based expenses and other, net 119  (949) —  —  (949)
Common stock dividends (35¢ per share)
—  —  (38,301) —  (38,301)
Balance, March 31, 2022 109,431  1,684,547  788,787  (169,692) 2,303,642 
Net income for common stock —  —  52,541  —  52,541 
Other comprehensive loss, net of tax benefits —  —  —  (87,840) (87,840)
Share-based expenses and other, net 36  3,462  —  —  3,462 
Common stock dividends (35¢ per share)
—  —  (38,301) —  (38,301)
Balance, June 30, 2022 109,467  1,688,009  803,027  (257,532) 2,233,504 
Net income for common stock —  —  62,082  —  62,082 
Other comprehensive loss, net of tax benefits —  —  —  (96,012) (96,012)
Share-based expenses and other, net 1,663  —  —  1,663 
Common stock dividends (35¢ per share)
—  —  (38,315) —  (38,315)
Balance, September 30, 2022 109,470  $ 1,689,672  $ 826,794  $ (353,544) $ 2,162,922 
Balance, December 31, 2020 109,181  $ 1,678,368  $ 660,398  $ (1,264) $ 2,337,502 
Net income for common stock —  —  64,358  —  64,358 
Other comprehensive loss, net of tax benefits —  —  —  (44,016) (44,016)
Share-based expenses and other, net 100  605  —  —  605 
Common stock dividends (34¢ per share)
—  —  (37,156) —  (37,156)
Balance, March 31, 2021 109,281  1,678,973  687,600  (45,280) 2,321,293 
Net income for common stock —  —  63,872  —  63,872 
Other comprehensive income, net of taxes —  —  —  16,472  16,472 
Share-based expenses and other, net 30  2,847  —  —  2,847 
Common stock dividends (34¢ per share)
—  —  (37,155) —  (37,155)
Balance, June 30, 2021 109,311  1,681,820  714,317  (28,808) 2,367,329 
Net income for common stock —  —  63,415  —  63,415 
Other comprehensive loss, net of tax benefits —  —  —  (11,305) (11,305)
Share-based expenses and other, net —  1,270  —  —  1,270 
Common stock dividends (34¢ per share)
—  —  (37,166) —  (37,166)
Balance, September 30, 2021 109,311  $ 1,683,090  $ 740,566  $ (40,113) $ 2,383,543 
This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K.

4


Hawaiian Electric Industries, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows (unaudited)
Nine months ended September 30
(in thousands) 2022 2021
Cash flows from operating activities    
Net income $ 185,207  $ 193,062 
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment 190,075  184,389 
Other amortization 28,916  24,511 
Provision for credit losses (692) (22,367)
Loans originated, held for sale (120,195) (281,744)
Proceeds from sale of loans, held for sale 126,357  304,820 
Gain on sales of investment securities, net and equity-method investment (8,123) (528)
Gain on sale of loans, net (1,630) (7,497)
Deferred income taxes (21,631) (13,473)
Share-based compensation expense 7,337  6,727 
Allowance for equity funds used during construction (7,431) (6,995)
Other (5,392) (7,046)
Changes in assets and liabilities    
Increase in accounts receivable and unbilled revenues, net (159,619) (58,758)
Increase in fuel oil stock (127,413) (42,612)
Decrease (increase) in regulatory assets 34,278  (4,952)
Increase in regulatory liabilities 29,294  8,806 
Increase in accounts, interest and dividends payable 39,009  36,850 
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes 73,279  11,133 
Decrease in defined benefit pension and other postretirement benefit plans liability (4,228) (5,288)
Change in other assets and liabilities (44,411) (51,833)
Net cash provided by operating activities 212,987  267,205 
Cash flows from investing activities    
Available-for-sale investment securities purchased (366,177) (1,318,520)
Principal repayments on available-for-sale investment securities 285,519  449,459 
Proceeds from sale of available-for-sale investment securities —  197,354 
Purchases of held-to-maturity investment securities —  (314,327)
Proceeds from repayments or maturities of held-to-maturity investment securities 10,433  49,074 
Purchase of stock from Federal Home Loan Bank (93,000) (32,980)
Redemption of stock from Federal Home Loan Bank 88,000  31,660 
Net decrease (increase) in loans held for investment (395,185) 157,619 
Proceeds from sale of residential loans —  17,398 
Purchase of loans held for investment (77,274) — 
Capital expenditures (236,278) (219,252)
Contributions to low income housing investments (740) (12,402)
Acquisition of business (25,706) — 
Other 15,646  10,078 
Net cash used in investing activities (794,762) (984,839)
(continued)

5


Hawaiian Electric Industries, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows (unaudited) (continued)
Nine months ended September 30
(in thousands) 2022 2021
Cash flows from financing activities    
Net increase in deposit liabilities 86,673  589,581 
Net increase in short-term borrowings with original maturities of three months or less 117,127  27,755 
Net increase in other bank borrowings with original maturities of three months or less 320,735  39,635 
Repayment of short-term debt —  (65,000)
Proceeds from issuance of long-term debt 67,312  206,988 
Repayment of long-term debt (16,752) (80,607)
Withheld shares for employee taxes on vested share-based compensation (3,158) (2,006)
Common stock dividends (114,917) (111,477)
Preferred stock dividends of subsidiaries (1,417) (1,417)
Other (6,112) (7,462)
Net cash provided by financing activities 449,491  595,990 
Net decrease in cash, cash equivalents and restricted cash (132,284) (121,644)
Cash, cash equivalents and restricted cash, beginning of period 311,462  358,979 
Cash, cash equivalents and restricted cash, end of period 179,178  237,335 
Less: Restricted cash (3,898) (9,412)
Cash and cash equivalents, end of period $ 175,280  $ 227,923 
This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K.
6


Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Consolidated Statements of Income (unaudited)
Three months ended September 30 Nine months ended September 30
(in thousands) 2022 2021 2022 2021
Revenues $ 955,971  $ 679,499  $ 2,483,636  $ 1,846,242 
Expenses        
Fuel oil 383,602  180,682  874,543  447,245 
Purchased power 225,209  185,759  606,827  490,520 
Other operation and maintenance 121,110  116,468  371,259  349,180 
Depreciation 58,711  57,386  175,921  172,122 
Taxes, other than income taxes 88,290  64,012  231,288  175,185 
Total expenses 876,922  604,307  2,259,838  1,634,252 
Operating income 79,049  75,192  223,798  211,990 
Allowance for equity funds used during construction 2,552  2,427  7,431  6,995 
Retirement defined benefits credit —other than service costs 895  877  2,876  2,918 
Interest expense and other charges, net (19,609) (18,148) (56,735) (54,126)
Allowance for borrowed funds used during construction 825  827  2,401  2,386 
Income before income taxes 63,712  61,175  179,771  170,163 
Income taxes 13,450  10,335  37,967  33,066 
Net income 50,262  50,840  141,804  137,097 
Preferred stock dividends of subsidiaries 228  228  686  686 
Net income attributable to Hawaiian Electric 50,034  50,612  141,118  136,411 
Preferred stock dividends of Hawaiian Electric 270  270  810  810 
Net income for common stock $ 49,764  $ 50,342  $ 140,308  $ 135,601 
This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K.
HEI owns all of the common stock of Hawaiian Electric. Therefore, per share data with respect to shares of common stock of Hawaiian Electric are not meaningful.

Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Consolidated Statements of Comprehensive Income (unaudited)
  Three months ended September 30 Nine months ended September 30
(in thousands) 2022 2021 2022 2021
Net income for common stock $ 49,764  $ 50,342  $ 140,308  $ 135,601 
Other comprehensive income, net of taxes:        
Retirement benefit plans:        
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes of $1,877, $1,007, $3,393 and $5,062, respectively
5,411  2,905  9,782  14,596 
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $(1,839), $(971), $(3,320) and $(5,002), respectively
(5,303) (2,799) (9,572) (14,421)
Other comprehensive income, net of taxes 108  106  210  175 
Comprehensive income attributable to Hawaiian Electric Company, Inc.
$ 49,872  $ 50,448  $ 140,518  $ 135,776 
This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K.
7


Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets (unaudited)
(dollars in thousands, except par value) September 30, 2022 December 31, 2021
Assets    
Property, plant and equipment
Utility property, plant and equipment    
Land $ 52,060  $ 51,937 
Plant and equipment 7,890,926  7,735,983 
Right-of-use assets - finance lease 48,371  — 
Less accumulated depreciation (3,067,642) (2,940,517)
Construction in progress 257,582  204,569 
Utility property, plant and equipment, net 5,181,297  5,051,972 
Nonutility property, plant and equipment, less accumulated depreciation of $62 and $59 as of September 30, 2022 and December 31, 2021, respectively
6,946  6,949 
Total property, plant and equipment, net 5,188,243  5,058,921 
Current assets    
Cash and cash equivalents 21,304  52,169 
Restricted cash —  3,089 
Customer accounts receivable, net 258,972  186,859 
Accrued unbilled revenues, net 220,420  129,155 
Other accounts receivable, net 15,492  7,267 
Fuel oil stock, at average cost 229,725  104,078 
Materials and supplies, at average cost 77,579  71,877 
Prepayments and other 45,798  46,031 
Regulatory assets 55,906  66,664 
Total current assets 925,196  667,189 
Other long-term assets    
Operating lease right-of-use assets 93,709  101,470 
Regulatory assets 441,282  498,879 
Other 158,116  165,166 
Total other long-term assets 693,107  765,515 
Total assets $ 6,806,546  $ 6,491,625 
(continued)














8


Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets (unaudited) (continued)

(dollars in thousands, except par value) September 30, 2022 December 31, 2021
Capitalization and liabilities    
Capitalization    
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 17,753,533 shares at September 30, 2022 and December 31, 2021)
$ 118,376  $ 118,376 
Premium on capital stock 798,526  798,526 
Retained earnings 1,394,160  1,348,277 
Accumulated other comprehensive loss, net of tax benefits-retirement benefit plans (3,070) (3,280)
Common stock equity 2,307,992  2,261,899 
Cumulative preferred stock — not subject to mandatory redemption 34,293  34,293 
Long-term debt, net 1,684,699  1,624,427 
Total capitalization 4,026,984  3,920,619 
Commitments and contingencies (Note 3)
Current liabilities    
Current portion of operating lease liabilities 18,572  49,368 
Current portion of long-term debt, net 51,995  51,975 
Short-term borrowings from non-affiliates 97,450  — 
Accounts payable 165,461  160,007 
Interest and preferred dividends payable 29,164  17,325 
Taxes accrued, including revenue taxes 256,343  208,280 
Regulatory liabilities 29,318  29,760 
Other 79,788  71,569 
Total current liabilities 728,091  588,284 
Deferred credits and other liabilities    
Operating lease liabilities 83,311  65,780 
Finance lease liabilities 46,468  — 
Deferred income taxes 392,176  408,634 
Regulatory liabilities 1,001,058  967,008 
Unamortized tax credits 98,001  103,945 
Defined benefit pension and other postretirement benefit plans liability 308,133  321,780 
Other 122,324  115,575 
Total deferred credits and other liabilities 2,051,471  1,982,722 
Total capitalization and liabilities $ 6,806,546  $ 6,491,625 
This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K.
9


Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Consolidated Statements of Changes in Common Stock Equity (unaudited)
 
  Common stock Premium
on
capital
Retained Accumulated
other
comprehensive
 
(in thousands) Shares Amount stock earnings income (loss) Total
Balance, December 31, 2021 17,753  $ 118,376  $ 798,526  $ 1,348,277  $ (3,280) $ 2,261,899 
Net income for common stock —  —  —  46,409  —  46,409 
Other comprehensive income, net of taxes —  —  —  —  51  51 
Common stock dividends —  —  —  (31,475) —  (31,475)
Balance, March 31, 2022 17,753  118,376  798,526  1,363,211  (3,229) 2,276,884 
Net income for common stock —  —  —  44,135  —  44,135 
Other comprehensive income, net of taxes —  —  —  —  51  51 
Common stock dividends —  —  —  (31,475) —  (31,475)
Balance, June 30, 2022 17,753  118,376  798,526  1,375,871  (3,178) 2,289,595 
Net income for common stock —  —  —  49,764  —  49,764 
Other comprehensive income, net of taxes —  —  —  —  108  108 
Common stock dividends —  —  —  (31,475) —  (31,475)
Balance, September 30, 2022 17,753  $ 118,376  $ 798,526  $ 1,394,160  $ (3,070) $ 2,307,992 
Balance, December 31, 2020 17,324  $ 115,515  $ 746,987  $ 1,282,335  $ (2,919) $ 2,141,918 
Net income for common stock —  —  —  43,358  —  43,358 
Other comprehensive income, net of taxes —  —  —  —  34  34 
Common stock dividends —  —  —  (27,925) —  (27,925)
Balance, March 31, 2021 17,324  115,515  746,987  1,297,768  (2,885) 2,157,385 
Net income for common stock —  —  —  41,901  —  41,901 
Other comprehensive income, net of taxes —  —  —  —  35  35 
Common stock dividends —  —  —  (27,925) —  (27,925)
Balance, June 30, 2021 17,324  115,515  746,987  1,311,744  (2,850) 2,171,396 
Net income for common stock —  —  —  50,342  —  50,342 
Other comprehensive income, net of taxes —  —  —  —  106  106 
Common stock dividends —  —  —  (27,925) —  (27,925)
Balance, September 30, 2021 17,324  $ 115,515  $ 746,987  $ 1,334,161  $ (2,744) $ 2,193,919 
This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K.


10


Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows (unaudited)
Nine months ended September 30
(in thousands) 2022 2021
Cash flows from operating activities    
Net income $ 141,804  $ 137,097 
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment 175,921  172,122 
Other amortization 19,044  17,058 
Deferred income taxes (27,671) (12,333)
State refundable credit (8,275) (7,955)
Bad debt expense 4,406  1,303 
Allowance for equity funds used during construction (7,431) (6,995)
Other 94  991 
Changes in assets and liabilities    
Increase in accounts receivable (64,404) (33,621)
Increase in accrued unbilled revenues (91,256) (27,491)
Increase in fuel oil stock (125,647) (42,563)
Increase in materials and supplies (5,702) (5,653)
Decrease (increase) in regulatory assets 34,278  (4,952)
Increase in regulatory liabilities 29,294  8,806 
Increase in accounts payable 18,108  27,210 
Change in prepaid and accrued income taxes, tax credits and revenue taxes 57,681  2,934 
Decrease in defined benefit pension and other postretirement benefit plans liability (3,647) (3,902)
Change in other assets and liabilities (22,430) (23,800)
Net cash provided by operating activities 124,167  198,256 
Cash flows from investing activities    
Capital expenditures (225,876) (203,746)
Other 6,750  6,157 
Net cash used in investing activities (219,126) (197,589)
Cash flows from financing activities    
Common stock dividends (94,425) (83,775)
Preferred stock dividends of Hawaiian Electric and subsidiaries (1,496) (1,496)
Repayment of short-term debt —  (50,000)
Proceeds from issuance of long-term debt 60,000  115,000 
Net increase in short-term borrowings from non-affiliates and affiliates with original maturities of three months or less 97,450  — 
Payments of obligations under finance leases (266) — 
Other (258) (942)
Net cash provided by financing activities 61,005  (21,213)
Net decrease in cash, cash equivalents and restricted cash (33,954) (20,546)
Cash, cash equivalents and restricted cash, beginning of period 55,258  63,326 
Cash, cash equivalents and restricted cash, end of period 21,304  42,780 
Less: Restricted cash —  (6,313)
Cash and cash equivalents, end of period $ 21,304  $ 36,467 
This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2021 Form 10-K.

11


NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
Note 1 · Basis of presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, the instructions to SEC Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In preparing the unaudited condensed consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenues and expenses for the period. Actual results could differ significantly from those estimates. The accompanying unaudited condensed consolidated financial statements and the following notes should be read in conjunction with the audited consolidated financial statements and the notes thereto in HEI’s and Hawaiian Electric’s Form 10-K for the year ended December 31, 2021.
In the opinion of HEI’s and Hawaiian Electric’s management, the accompanying unaudited condensed consolidated financial statements contain all material adjustments required by GAAP to fairly state consolidated HEI’s and Hawaiian Electric’s financial positions as of September 30, 2022 and December 31, 2021 and the results of their operations for the three and nine months ended September 30, 2022 and 2021 and cash flows for the nine months ended September 30, 2022 and 2021. All such adjustments are of a normal recurring nature, unless otherwise disclosed below or in other referenced material. Results of operations for interim periods are not necessarily indicative of results for the full year.
Recent accounting pronouncements.
Credit Losses. In March 2022, Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2022-02, “Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which eliminates the accounting guidance for Troubled Debt Restructurings (TDRs) by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. The amendments in this update also require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, “Financial Instruments-Credit Losses-Measured at Amortized Cost.” Gross write-off information must be included in the vintage disclosures required for public business entities in accordance with paragraph 325-20-50-6, which requires that an entity disclose the amortized cost basis of financing receivables by credit-quality indicator and class of financing receivable by year of origination. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASB is assessing the requirements of the ASU.
12


NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - continued (Unaudited)
Note 2 · Segment financial information
(in thousands)  Electric utility Bank Other Total
Three months ended September 30, 2022        
Revenues from external customers $ 955,971  $ 81,411  $ 4,815  $ 1,042,197 
Intersegment revenues (eliminations) —  —  —  — 
Revenues $ 955,971  $ 81,411  $ 4,815  $ 1,042,197 
Income (loss) before income taxes $ 63,712  $ 27,281  $ (11,088) $ 79,905 
Income taxes (benefit) 13,450  6,525  (2,623) 17,352 
Net income (loss) 50,262  20,756  (8,465) 62,553 
Preferred stock dividends of subsidiaries 498  —  (27) 471 
Net income (loss) for common stock $ 49,764  $ 20,756  $ (8,438) $ 62,082 
Nine months ended September 30, 2022        
Revenues from external customers $ 2,483,632  $ 231,850  $ 7,390  $ 2,722,872 
Intersegment revenues (eliminations) —  (4) — 
Revenues $ 2,483,636  $ 231,850  $ 7,386  $ 2,722,872 
Income (loss) before income taxes $ 179,771  $ 79,605  $ (25,774) $ 233,602 
Income taxes (benefit) 37,967  17,513  (7,085) 48,395 
Net income (loss) 141,804  62,092  (18,689) 185,207 
Preferred stock dividends of subsidiaries 1,496  —  (79) 1,417 
Net income (loss) for common stock $ 140,308  $ 62,092  $ (18,610) $ 183,790 
Total assets (at September 30, 2022)
$ 6,806,546  $ 9,315,611  $ 142,711  $ 16,264,868 
Three months ended September 30, 2021        
Revenues from external customers $ 679,482  $ 76,208  $ 1,214  $ 756,904 
Intersegment revenues (eliminations) 17  —  (17) — 
Revenues $ 679,499  $ 76,208  $ 1,197  $ 756,904 
Income (loss) before income taxes $ 61,175  $ 25,241  $ (8,265) $ 78,151 
Income taxes (benefit) 10,335  5,976  (2,046) 14,265 
Net income (loss) 50,840  19,265  (6,219) 63,886 
Preferred stock dividends of subsidiaries 498  —  (27) 471 
Net income (loss) for common stock $ 50,342  $ 19,265  $ (6,192) $ 63,415 
Nine months ended September 30, 2021        
Revenues from external customers $ 1,846,206  $ 230,599  $ 3,302  $ 2,080,107 
Intersegment revenues (eliminations) 36  —  (36) — 
Revenues $ 1,846,242  $ 230,599  $ 3,266  $ 2,080,107 
Income (loss) before income taxes $ 170,163  $ 102,335  $ (31,207) $ 241,291 
Income taxes (benefit) 33,066  23,230  (8,067) 48,229 
Net income (loss) 137,097  79,105  (23,140) 193,062 
Preferred stock dividends of subsidiaries 1,496  —  (79) 1,417 
Net income (loss) for common stock $ 135,601  $ 79,105  $ (23,061) $ 191,645 
Total assets (at December 31, 2021)
$ 6,491,625  $ 9,181,603  $ 149,409  $ 15,822,637 
 
Intercompany electricity sales of the Utilities to ASB and “other” segments are not eliminated because those segments would need to purchase electricity from another source if it were not provided by the Utilities and the profit on such sales is nominal.
Hamakua Energy, LLC’s (Hamakua Energy’s) sales to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation.
13


NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - continued (Unaudited)
Note 3 · Electric utility segment
Unconsolidated variable interest entities.
Power purchase agreements.  As of September 30, 2022, the Utilities had four PPAs for firm capacity (including the Puna Geothermal Venture PPA that went offline in May 2018 due to lava flow on Hawaii Island, but returned to service with firm capacity of 13.0 MW in the first quarter of 2021, ramped up to 23.9 MW in the second quarter of 2021, and further increased to 25.7 MW in June 2022) and other PPAs with independent power producers (IPPs) and Schedule Q providers (i.e., customers with cogeneration and/or power production facilities who buy power from or sell power to the Utilities), none of which are currently required to be consolidated as VIEs.
Pursuant to the current accounting standards for VIEs, the Utilities are deemed to have a variable interest in Kalaeloa Partners, L.P. (Kalaeloa) and Hamakua Energy by reason of the provisions of the PPA that the Utilities have with the two IPPs. However, management has concluded that the Utilities are not the primary beneficiary of Kalaeloa and Hamakua Energy because the Utilities do not have the power to direct the activities that most significantly impact the two IPPs’ economic performance nor the obligation to absorb their expected losses, if any, that could potentially be significant to the IPPs. Thus, the Utilities have not consolidated Kalaeloa and Hamakua Energy in its condensed consolidated financial statements. However, Hamakua Energy is an indirect subsidiary of Pacific Current and is consolidated in HEI’s condensed consolidated financial statements.
For the other PPAs with IPPs, the Utilities have concluded that the consolidation of the IPPs was not required because either the Utilities do not have variable interests in the IPPs due to the absence of an obligation in the PPAs for the Utilities to absorb any variability of the IPPs, or the IPP was considered a “governmental organization,” and thus excluded from the scope of accounting standards for VIEs. The consolidation of any significant IPP could have a material effect on the unaudited condensed consolidated financial statements, including the recognition of a significant amount of assets and liabilities and, if such a consolidated IPP were operating at a loss and had insufficient equity, the potential recognition of such losses. If the Utilities determine they are required to consolidate the financial statements of such an IPP and the consolidation has a material effect, the Utilities would retrospectively apply accounting standards for VIEs to the IPP.
Commitments and contingencies.
Contingencies. The Utilities are subject in the normal course of business to pending and threatened legal proceedings. Management does not anticipate that the aggregate ultimate liability arising out of these pending or threatened legal proceedings will be material to its financial position. However, the Utilities cannot rule out the possibility that such outcomes could have a material effect on the results of operations or liquidity for a particular reporting period in the future.
Power purchase agreements.  Purchases from all IPPs were as follows: