- CEO
- Shelee M. T. Kimura
- Full Time Employees
- 2,587
- Sector
- Utilities
- Industry
- Regulated Electric
- Address
- 1001 Bishop Street Honolulu HI United States of America 96813
- IPO Date
- Oct 15, 2003
- Business
- Hawaiian Electric Company, Inc. (HECO) operates as the principal subsidiary of Hawaiian Electric Industries, Inc. (HEI), serving as Hawaii's largest investor-owned electric utility by generating, transmitting, distributing, and selling electricity to approximately 95% of the state's population across the islands of Oahu, Maui, Hawaii Island, Lanai, and Molokai; the company provides these services through its integrated operations including Hawaiian Electric Company on Oahu, Maui Electric Company on Maui, Lanai, and Molokai, and Hawaii Electric Light Company on Hawaii Island, utilizing a mix of oil-fired power plants such as Waiau, Kahe, Maalaea, and Keahole alongside renewable sources including solar, wind, hydropower, and biomass to deliver firm generating capacity exceeding 2,100 megawatts to residential, commercial, industrial, governmental, and military customers. Founded in 1891 and headquartered at 900 Richards Street in Honolulu, Hawaii, HECO employs over 2,500 people and supports energy efficiency programs, electrical installation services, power quality assessments, electric vehicle infrastructure, and renewable energy initiatives like rooftop solar interconnections and battery storage to advance Hawaii's clean energy goals, including a target of 100% renewable portfolio standard by 2045. In recent developments, HECO reached a tentative $4 billion settlement in July 2024 with the State of Hawaii, Maui County, Kamehameha Schools, and others to resolve class-action lawsuits stemming from the August 2023 Maui wildfires that alleged responsibility for downed power lines amid high winds; the company continues streamlining efforts under parent HEI to focus on core utility operations by divesting non-utility assets like Pacific Current LLC, pursues a $500 million senior notes issuance announced in September 2025 to fund capital expenditures for grid resilience, wildfire mitigation, and clean energy expansions, and reported third-quarter 2025 net income of $31 million while advancing performance-based regulation since 2021 and achieving 33.3% renewable energy penetration in 2023 with peaks up to 92.3% on Hawaii Island.