What Hawaiian Electric does

Hawaiian Electric Company, Inc. is a regulated electric utility serving approximately 95% of Hawaii's population across five islands — Oahu, Maui County (Maui, Molokai, Lanai), and Hawaii Island — under exclusive franchises granted by the Hawaii Public Utilities Commission. The company operates as a wholly owned subsidiary of Hawaiian Electric Industries (HEI, NYSE: HE), a holding company that is pivoting to a pure-play utility model following divestment of non-utility businesses. Hawaiian Electric distributes electricity to residential, commercial, industrial, and government customers via generation, transmission, and distribution infrastructure it owns, with rates set by tariff through the Hawaii PUC on a monthly billing cadence. The company employs approximately 3,600 people, with offices in Honolulu (Oahu headquarters), Hilo (Hawaii Island), and Wailuku (Maui County).

The company's core product is electricity distribution, supplemented by a portfolio of modular programs including Smart Renewable Energy Export and Non-Export (rooftop solar interconnections), Shared Solar community subscriptions, Bring Your Own Device Plus battery dispatch, Electric Garage EV services, Shift and Save demand response, and Public Safety Power Shutoff for wildfire risk reduction. The technology stack includes smart grid infrastructure with advanced metering, grid-forming inverters for renewable integration, AI-powered drone inspections (via ProEnergy), AI-assisted wildfire detection cameras and weather stations, and a Databricks RAG model that reduced regulatory document query time from 5 minutes to 5 seconds. The company achieved a 37% renewable portfolio standard in 2025 and has guided $550-700 million in capital spending for 2026 and $600-850 million for 2028.

The business model is subscription/recurring regulated tariff revenue with multi-year rate cases filed with the Hawaii PUC, generating stable demand-driven cash flows offset by substantial liability exposure following the August 2023 Maui wildfires. Hawaiian Electric is party to a $1.916 billion global wildfire tort settlement (four annual $479 million payments, first paid April 2026) and a $100 million stockholder derivative settlement, alongside a $4.03 billion broader settlement that includes contributions from the State of Hawaii, Kamehameha Schools, and Maui County. Leadership is being consolidated effective June 1, 2026, with Scott Seu as CEO of both HEI and Hawaiian Electric and Shelee Kimura as President, under a CFO transition to Paul Ito effective April 2, 2026, as the company executes its pure-play utility restructuring.

Name

Hawaiian Electric

Legal name

Hawaiian Electric Company, Inc.

Website

https://hawaiianelectric.com

Company type

Public

Founded year

1890

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Hawaiian Electric is a regulated monopoly electric utility serving approximately 95% of Hawaii's population across Oahu, Maui County, and Hawaii Island under exclusive franchises from the Hawaii Public Utilities Commission, distributing electricity to residential, commercial, industrial, and government customers via owned generation, transmission, and distribution infrastructure.

Ownership category

akta.pro rank

Product category

Electric Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112), Solar Electric Power Generation (221114)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Electric Distribution System Owners (Wires-Only Companies) (EUADABAI)

akta.pro secondary industries

Energy Management Systems & Plant Controllers (PPC, AGC Participation, Curtailment Control) (EUAMAIAI), Distributed Generation (DG) Solar & Small Wind (EUAMAJAD), Distributed Storage (Behind-the-Meter Batteries) (EUAMAJAE), Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE), Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers) (HSAPAQAF)

Keywords

• Regulated electric utility
• Electricity distribution services
• Renewable energy programs
• Grid modernization
• Wildfire mitigation

Headquarters

HQ city

Honolulu

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Others

Revenue model

1. Electricity Distribution Revenue: Regulated tariff-based revenue from electricity distribution to residential, commercial, and industrial customers across Oahu, Hawaii Island, Maui, Molokai, and Lanai. Rates are set by the Hawaii Public Utilities Commission.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Hawaiian Electric distributes regulated electricity to residential, commercial, and industrial customers across Oahu, Hawaii Island, Maui, Molokai, and Lanai. Beyond core electricity service, the company offers modular programs including Smart Renewable Energy (Smart DER) export and non-export rooftop solar, Shared Solar subscriptions, Bring Your Own Device Plus battery incentives, The Electric Garage EV sub-brand, Shift and Save demand response, and Public Safety Power Shutoff wildfire mitigation.

Product overview

Hawaiian Electric offers a unified utility service platform combining core electricity distribution with multiple modular programs. The core product is electricity service with grid infrastructure across Oahu, Maui County, and Hawaii Island. Smart Renewable Energy (Smart DER) programs form the primary renewable offering, split into Export and Non-Export options for rooftop solar customers. The Bring Your Own Device Plus (BYOD Plus) battery program and Shared Solar community program complement DER offerings. The Electric Garage sub-brand covers EV services including charging infrastructure. Grid management is enhanced by the Public Safety Power Shutoff program and Wildfire Mitigation Plan with drone inspections and AI-assisted monitoring. Customer-facing tools include the Online Customer Service Center, Customer Interconnection Tool portal, and mobile app.

Differentiator

Problem solved

Functional benefit

Products and services

• Smart Renewable Energy Export (Smart DER Export) Program allowing customers to install rooftop solar or renewable systems and export excess energy to the grid for bill credits. Targets residential and commercial customers in Hawaiian Electric's service territory.
• Smart Renewable Energy Non-Export Program allowing customers to install renewable energy systems for self-use only without exporting to the grid. Targets residential and commercial customers who want on-site solar without interconnection exports.
• Shared Solar Community-based renewable energy program allowing customers to subscribe to solar energy credits without installing rooftop systems. Targets customers who cannot install on-site solar.
• Bring Your Own Device Plus (BYOD Plus) Incentive program for installing battery storage systems, with customers agreeing to dispatch energy back to the grid during set two-hour periods for at least three years. Targets customers with or adding battery storage to support grid reliability.
• The Electric Garage Brand covering electric vehicle programs, charging infrastructure, EV-specific rates, and enrollment information. Targets residential and commercial EV owners and operators.
• Electric Vehicle Rates and Enrollment EV-specific tariff rates and enrollment service for residential and commercial electric vehicle customers. Supports managed EV charging through dedicated rate schedules.
• Shift and Save Demand response program with time-of-use pricing, auto-enrolling new Smart DER customers who complete applications before January 31, 2025. Targets customers willing to shift energy usage to off-peak periods for bill savings.
• Power Partnership Programs Programs offering incentives and rebates for energy-efficient equipment and devices. Targets residential and commercial customers seeking energy savings.
• Solar Water Heating Program offering rebates and financing for solar water heating systems to reduce energy consumption. Targets residential customers seeking hot water energy savings.
• Customer Interconnection Tool Online portal for submitting and managing solar and battery interconnection applications electronically. Targets customers and contractors installing rooftop solar or battery systems.
• Online Customer Service Center Web portal for managing accounts, viewing bills, making payments, and accessing usage data. Targets all Hawaiian Electric customers across residential, commercial, and industrial segments.
• Mobile App Free mobile application providing easy access to account information, billing, payments, and outage reporting. Available on iOS and Android. Targets all Hawaiian Electric customers.
• Start, Stop or Move Service Service initiation, termination, and transfer for residential and commercial customers moving within or leaving the Hawaiian Electric service territory.
• Business Account Services Account management offerings tailored to commercial and industrial customers, including service requests and account administration. Targets businesses and industrial operations across Hawaii.
• Fast Charging Fast EV charging infrastructure service offered as part of the Electric Garage sub-brand. Targets EV drivers needing public or fleet fast-charging.
• Public Safety Power Shutoff (PSPS) Program to proactively de-energize power lines during hazardous wildfire conditions to reduce ignition risk. Targets all customers in fire-prone areas of the service territory.

Quantifiable outcome

• Serves approximately 95% of Hawaii's population

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability7 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Ameresco (Kūpono Project)coreStrategic or Co-development Partner · 1 January 2025Public-private partnership with U.S. Navy to develop 42 MW solar + 42 MW/168 MWh battery storage facility at Naval Base Hawaii. Ameresco Kūpono Project won 2026 Environment+Energy Leader Award in Environmental Impact category.
• DatabrickscoreTechnology or IntegrationAI platform provider for grid operations, enabling RAG model for analyzing regulatory documents and improving operational efficiency.
• ProEnergycoreTechnology or IntegrationDrone inspection technology partnership providing AI-powered infrastructure inspections for wildfire prevention and grid maintenance.
• JERAminorStrategic or Co-development PartnerJapanese energy company pursuing LNG project partnerships in Hawaii.
• Hawaii Wildfire Management Organization (HWMO)coreStrategic or Co-development PartnerPartnership to fund Firewise coordinator positions across Hawaii to support wildfire prevention and community preparedness programs.
• University of Hawaii Maui CollegeminorStrategic or Co-development PartnerWorkforce training partnership through Maui Power Pathways Training Program to develop local talent for energy sector careers.
• Life of the LandminorOthersEnvironmental advocacy organization engaged in regulatory proceedings related to energy transition.
• EarthjusticeminorOthersEnvironmental law organization providing legal advocacy in regulatory and legal proceedings.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Kauai Island Utility Cooperative: The other investor-/member-owned electric utility serving Hawaii (Kauai). Most direct geographic peer — both operate islanded grids in Hawaii with high renewable penetration targets and similar customer profiles, though KIUC is a cooperative rather than investor-owned.
• Portland General Electric: Mid-size regulated IOU serving Oregon with similar customer count (~900k), comparable rate base, and similar focus on renewable integration. Closely comparable on scale, regulatory framework, and clean energy transition strategy.
• Avista Corporation: Small-to-mid-cap regulated electric and gas utility serving the Pacific Northwest with comparable customer base scale, regulated return framework, and clean energy transition exposure.
• PG&E Corporation: California-based regulated investor-owned utility with similar massive wildfire liability exposure (2017/2018 Camp fires), exclusive franchise model, and a multi-year path through bankruptcy/restructuring back to investment grade. Closest analog for understanding how Hawaiian Electric's wildfire liability and regulatory recovery may evolve.
• Edison International: Parent of Southern California Edison, another California IOU bearing material wildfire liability from the 2017/2018 Thomas Fire and 2024 wildfires. Directly comparable as a regulated utility navigating wildfire tort exposure, regulatory rate-base growth, and credit recovery dynamics.
• IDACORP / Idaho Power: Mid-size regulated electric utility with similar rate base size and exclusive franchise economics. Comparable on capital program intensity, regulated returns, and clean energy integration profile.

Broad incumbents

• NextEra Energy: Largest U.S. renewable-heavy regulated utility and competitive renewables developer. Broad incumbent analog for utility-scale renewable integration strategy and rate base growth, though much larger and more diversified than Hawaiian Electric.
• Southern Company: Large regulated electric utility holding company with multi-state franchise model. Analogous in regulated rate base growth, capital intensity, and transition strategy; substantially larger and more diversified.
• Duke Energy: Largest U.S. regulated electric utility by revenue. Comparable in regulated franchise structure, grid modernization capex programs, and renewable transition commitments, though at significantly greater scale and geographic diversity.
• PacifiCorp (Pacific Power / Rocky Mountain Power): Berkshire Hathaway-owned regulated utility with six-state Western U.S. territory. Comparable on Western U.S. regulated utility operations and wildfire risk exposure (2020 Oregon wildfires), though it is materially larger and operates a continental rather than islanded grid.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/hwnelectric
• YouTubeyoutube.com/hawaiianelectric
• Facebookfacebook.com/HawaiianElectric
• LinkedInlinkedin.com/company/hawaiianelectric
• Instagraminstagram.com/hawaiianelectric
• Pinterestpinterest.com/HwnElectric

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hawaiian Electric