- CEO
- Shelee M. T. Kimura
- Full Time Employees
- 2,654
- Sector
- Utilities
- Industry
- Regulated Electric
- Address
- 1001 Bishop Street Honolulu HI United States of America
- IPO Date
- Oct 15, 2003
- Business
- Hawaiian Electric Company, Inc. (HECO) is a regulated electric utility that generates, purchases, transmits, distributes, and sells electricity to approximately 95% of Hawaii's 1.4 million residents across the islands of Oahu, Maui, Hawaii Island, Lanai, and Molokai. The company offers core services including residential and commercial electricity supply, renewable energy programs such as solar water heating financing and customer renewable integration initiatives, electric vehicle charging solutions encompassing garage and fast charging options, energy efficiency tools like consumption calculators and savings kits, time-of-use rate programs, and business account management; it operates five separate island grids with a focus on integrating clean energy sources to support Hawaii's transition toward sustainable power. Founded in 1891 and headquartered in Honolulu, Hawaii, HECO functions as a subsidiary of Hawaiian Electric Industries, Inc. (HEI), with operating subsidiaries Maui Electric Company, Limited and Hawaii Electric Light Company, Inc. serving specific island regions.
In recent developments, HEI streamlined its operations by selling solar and battery storage assets through its subsidiary Pacific Current to Fortistar and Epic Star in August 2025, advancing a strategic focus on the core regulated utility business. The company pursued a $500 million senior notes issuance in September 2025 to fund capital expenditures, debt repayment, and enhancements in grid resilience, wildfire protection, power plant reliability, and clean energy generation. Additionally, S&P Global Ratings raised issuer credit ratings for HECO and affiliates to 'B+' from 'B-' in June 2025 while placing them on CreditWatch positive, reflecting improved financial positioning amid ongoing wildfire litigation settlements expected in 2026; HEI also expanded its credit facility to $600 million earlier in the year for greater liquidity. These moves support HECO's commitments to operational reliability, renewable integration, and infrastructure modernization in its island-specific markets.