Hawaiian Electric Industries, Inc.
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- Hawaiian Electric Industries, Inc. (HEI) is a diversified holding company primarily engaged in providing electric utility services across the state of Hawaii. It operates through its subsidiaries, including Hawaiian Electric Company serving Oahu, Hawai'i Electric Light Company serving the Island of Hawaii, and Maui Electric Company serving Maui, Lanai, and Molokai. HEI's core products and services include electricity generation, transmission, and distribution powered by a mix of fossil fuels and renewable energy sources such as solar, battery storage, and biomass. Additionally, HEI offers electrical services including installation, maintenance, and power quality solutions for residential, commercial, and industrial customers. The company also operates Pacific Current LLC, which manages clean energy and sustainability initiatives, and owns American Savings Bank, a financial institution serving Hawaii. Founded in 1891 and headquartered in Honolulu, Hawaii, HEI supplies power to approximately 95% of Hawaii's population. Recent major developments at Hawaiian Electric Industries include a significant strategic shift toward simplifying its business model by divesting non-core assets. In 2025, HEI sold Pacific Current's operating solar and battery storage assets on Kauai, Oahu, and Maui to Epic Star and sold the Hamakua Energy plant on Hawai'i Island to a subsidiary of Harbert Management Corporation. These transactions support HEI’s focus on its core utility business amid efforts to decarbonize its operations and modernize the grid for enhanced resilience and safety. The company has also undertaken a $500 million wildfire safety investment program and reduced its debt by $384 million through the sale of American Savings Bank, aiming at strengthening its balance sheet and returning to an investment-grade credit rating. HEI achieved a 36% renewable portfolio standard in 2024 and continued to engage in legislative efforts for wildfire liability caps and clean energy procurement. The company reported a net loss of $1,426 million for 2024, influenced by wildfire-related costs, but showed improved financial stability and operational progress in 2025 with net income recovery and a 7% decrease in average residential energy bills. Hawaiian Electric Industries operates in the electric utility and renewable energy industry segments, targeting consumers ranging from residential households to large commercial and industrial entities throughout the Hawaiian Islands. Its geographic operations cover all major inhabited islands, including Oahu, the Big Island, Maui, Lanai, and Molokai. HEI remains committed to supporting Hawaii’s transition to a renewable energy future through clean energy initiatives and infrastructure investments essential for sustainability and customer service reliability. The company is led by CEO Scott Seu and maintains a strong presence in Hawaii's energy market while aligning its strategic priorities with regulatory and community expectations. This description reflects the latest comprehensive information on Hawaiian Electric Industries, Inc. as of late 2025.
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