Hawaiian Electric Industries (HE) 10-Q 13 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 18, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity Registrant Name	HAWAIIAN ELECTRIC INDUSTRIES, INC.
Entity File Number	1-8503
Entity Tax Identification Number	99-0208097
Entity Incorporation, State or Country Code	HI
Entity Address, Address Line One	1001 Bishop Street
Entity Address, Address Line Two	Suite 2900
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-5662
Title of 12(b) Security	Common Stock, Without Par Value
Trading Symbol(s)	HE
Name of each exchange on which registered	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		110,124,098
Entity Central Index Key	0000354707
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Hawaiian Electric Company, Inc. and Subsidiaries
Entity Information [Line Items]
Document Type	10-Q
Entity Registrant Name	HAWAIIAN ELECTRIC COMPANY, INC.
Entity File Number	1-4955
Entity Tax Identification Number	99-0040500
Entity Incorporation, State or Country Code	HI
Entity Address, Address Line One	1099 Alakea Street
Entity Address, Address Line Two	Suite 2200
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-7771
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,854,278
Entity Central Index Key	0000046207
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues
Revenues	$ 901,873	$ 1,042,197	$ 2,725,795	$ 2,722,872
Expenses
Total expenses	826,762	940,082	2,464,187	2,434,813
Operating income (loss)
Total operating income	75,111	102,115	261,608	288,059
Retirement defined benefits credit—other than service costs	1,256	1,039	3,561	3,528
Interest expense, net—other than on deposit liabilities and other bank borrowings	(32,629)	(26,626)	(91,259)	(75,940)
Allowance for borrowed funds used during construction	1,372	825	3,798	2,401
Allowance for equity funds used during construction	4,000	2,552	11,073	7,431
Gain on sales of equity-method investment	0	0	0	8,123
Income (loss) before income taxes	49,110	79,905	188,781	233,602
Income taxes	7,521	17,352	36,915	48,395
Net income (loss)	41,589	62,553	151,866	185,207
Preferred stock dividends of subsidiaries	471	471	1,417	1,417
Net income for common stock	$ 41,118	$ 62,082	$ 150,449	$ 183,790
Basic earnings per common share (in dollars per share)	$ 0.37	$ 0.57	$ 1.37	$ 1.68
Diluted earnings per common share (in dollars per share)	$ 0.37	$ 0.57	$ 1.37	$ 1.68
Weighted-average number of common shares outstanding (in shares)	109,728	109,470	109,606	109,421
Net effect of potentially dilutive shares (share-based compensation programs) (in shares)	189	235	326	291
Weighted-average shares assuming dilution (in shares)	109,917	109,705	109,932	109,712
Electric utility
Revenues
Revenues	$ 794,987	$ 955,971	$ 2,419,539	$ 2,483,636
Expenses
Total expenses	723,629	876,922	2,198,681	2,259,838
Operating income (loss)
Total operating income	71,358	79,049	220,858	223,798
Income (loss) before income taxes	55,415	63,712	175,391	179,771
Income taxes	11,456	13,450	38,126	37,967
Net income (loss)	43,959	50,262	137,265	141,804
Preferred stock dividends of subsidiaries	498	498	1,496	1,496
Net income for common stock	43,461	49,764	135,769	140,308
Bank
Revenues
Revenues	100,974	81,411	291,716	231,850
Expenses
Total expenses	88,415	54,311	230,769	152,797
Operating income (loss)
Total operating income	12,559	27,100	60,947	79,053
Income (loss) before income taxes	12,749	27,281	61,511	79,605
Income taxes	1,384	6,525	11,380	17,513
Net income (loss)	11,365	20,756	50,131	62,092
Preferred stock dividends of subsidiaries	0	0	0	0
Net income for common stock	11,365	20,756	50,131	62,092
Other
Revenues
Revenues	5,912	4,815	14,540	7,386
Expenses
Total expenses	14,718	8,849	34,737	22,178
Operating income (loss)
Total operating income	(8,806)	(4,034)	(20,197)	(14,792)
Income (loss) before income taxes	(19,054)	(11,088)	(48,121)	(25,774)
Income taxes	(5,319)	(2,623)	(12,591)	(7,085)
Net income (loss)	(13,735)	(8,465)	(35,530)	(18,689)
Preferred stock dividends of subsidiaries	(27)	(27)	(79)	(79)
Net income for common stock	$ (13,708)	$ (8,438)	$ (35,451)	$ (18,610)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income for common stock	$ 41,118	$ 62,082	$ 150,449	$ 183,790
Net unrealized gains (losses) on available-for-sale investment securities:
Net unrealized losses on available-for-sale investment securities arising during the period, net of taxes of $(13,918), $(36,230), $(11,860) and $(112,838), respectively	(38,016)	(98,965)	(32,395)	(308,229)
Amortization of unrealized holding losses on held-to-maturity securities, net of taxes of $1,354, nil, $4,050 and nil, respectively	3,699	0	11,065	0
Derivatives qualifying as cash flow hedges:
Unrealized interest rate hedging gains (losses) arising during the period, net of taxes of $(185), $901, $(237) and $2,220, respectively	(535)	2,597	(684)	6,400
Reclassification adjustment to net income, net of taxes of $(17), $19, $(50) and $56, respectively	(47)	53	(143)	161
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses (gains) recognized during the period in net periodic benefit cost, net of taxes of $(153), $1,943, $(397) and $3,549, respectively	(446)	5,606	(1,160)	10,229
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $163, $(1,839), $458 and $(3,320), respectively	470	(5,303)	1,321	(9,572)
Other comprehensive income (loss), net of taxes	(34,875)	(96,012)	(21,996)	(301,011)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ 6,243	$ (33,930)	$ 128,453	$ (117,221)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net unrealized gains (losses) on available-for-sale investment securities:
Net unrealized losses on available-for-sale investment securities arising during the period, tax	$ (13,918)	$ (36,230)	$ (11,860)	$ (112,838)
Amortization of unrealized holding losses on held-to-maturity securities, net of taxes	1,354	0	4,050	0
Derivatives qualifying as cash flow hedges:
Unrealized interest rate hedging arising during the period, tax	(185)	901	(237)	2,220
Reclassification adjustment for net unrealized losses included in net income, tax	(17)	19	(50)	56
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	(153)	1,943	(397)	3,549
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	$ 163	$ (1,839)	$ 458	$ (3,320)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 667,129	$ 199,877
Restricted cash	15,164	5,050
Accounts receivable and unbilled revenues, net	540,082	511,903
Available-for-sale investment securities, at fair value	1,266,412	1,429,667
Held-to-maturity investment securities, at amortized cost	1,212,005	1,251,747
Stock in Federal Home Loan Bank, at cost	18,000	26,560
Loans held for investment, net	6,114,640	5,906,690
Loans held for sale, at lower of cost or fair value	2,171	824
Property, plant and equipment, net of accumulated depreciation of $3,341,082 and $3,192,545 at September 30, 2023 and December 31, 2022, respectively	5,917,342	5,687,003
Operating lease right-of-use assets	99,466	115,684
Regulatory assets	231,197	242,513
Other	826,020	824,536
Goodwill	82,190	82,190
Total assets	16,991,818	16,284,244
Liabilities
Accounts payable	256,323	251,460
Interest and dividends payable	57,901	21,333
Deposit liabilities	8,224,351	8,169,696
Short-term borrowings—other than bank	0	172,568
Other bank borrowings	750,000	695,120
Long-term debt, net—other than bank	2,944,589	2,384,980
Deferred income taxes	258,942	262,462
Operating lease liabilities	108,681	126,604
Finance lease liabilities	122,320	48,709
Regulatory liabilities	1,101,773	1,055,650
Defined benefit pension and other postretirement benefit plans liability	70,785	71,813
Other	837,506	787,057
Total liabilities	14,733,171	14,047,452
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293	34,293
Commitments and contingencies (Notes 2, 4 and 5)
Shareholders’ equity
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	0	0
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 110,086,035 shares and 109,470,795 shares at September 30, 2023 and December 31, 2022, respectively	1,704,447	1,692,697
Retained earnings	877,931	845,830
Accumulated other comprehensive loss, net of tax benefits	(358,024)	(336,028)
Total shareholders’ equity	2,224,354	2,202,499
Total liabilities and shareholders’ equity	$ 16,991,818	$ 16,284,244

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Property, plant and equipment, accumulated depreciation	$ 3,341,082	$ 3,192,545
Shareholders’ equity
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized shares (in shares)	10,000,000	10,000,000
Preferred stock, issued shares (in shares)	0	0
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	110,086,035	109,470,795
Common stock, shares outstanding (in shares)	110,086,035	109,470,795

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common stock	Retained earnings	Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2021		109,312,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	$ 1,685,496	$ 757,921	$ (52,533)
Increase (decrease) in stockholders' equity
Net income for common stock	69,167		69,167
Other comprehensive (loss) income, net of tax benefits	(117,159)			(117,159)
Share-based expenses and other, net (in shares)		119,000
Share-based expenses and other, net	(949)	$ (949)
Common stock dividends	(38,301)		(38,301)
Ending balance (in shares) at Mar. 31, 2022		109,431,000
Ending balance at Mar. 31, 2022	2,303,642	$ 1,684,547	788,787	(169,692)
Beginning balance (in shares) at Dec. 31, 2021		109,312,000
Beginning balance at Dec. 31, 2021	2,390,884	$ 1,685,496	757,921	(52,533)
Increase (decrease) in stockholders' equity
Net income for common stock	183,790
Other comprehensive (loss) income, net of tax benefits	(301,011)
Ending balance (in shares) at Sep. 30, 2022		109,470,000
Ending balance at Sep. 30, 2022	2,162,922	$ 1,689,672	826,794	(353,544)
Beginning balance (in shares) at Mar. 31, 2022		109,431,000
Beginning balance at Mar. 31, 2022	2,303,642	$ 1,684,547	788,787	(169,692)
Increase (decrease) in stockholders' equity
Net income for common stock	52,541		52,541
Other comprehensive (loss) income, net of tax benefits	(87,840)			(87,840)
Share-based expenses and other, net (in shares)		36,000
Share-based expenses and other, net	3,462	$ 3,462
Common stock dividends	(38,301)		(38,301)
Ending balance (in shares) at Jun. 30, 2022		109,467,000
Ending balance at Jun. 30, 2022	2,233,504	$ 1,688,009	803,027	(257,532)
Increase (decrease) in stockholders' equity
Net income for common stock	62,082		62,082
Other comprehensive (loss) income, net of tax benefits	(96,012)			(96,012)
Share-based expenses and other, net (in shares)		3,000
Share-based expenses and other, net	1,663	$ 1,663
Common stock dividends	(38,315)		(38,315)
Ending balance (in shares) at Sep. 30, 2022		109,470,000
Ending balance at Sep. 30, 2022	$ 2,162,922	$ 1,689,672	826,794	(353,544)
Beginning balance (in shares) at Dec. 31, 2022	109,470,795	109,471,000
Beginning balance at Dec. 31, 2022	$ 2,202,499	$ 1,692,697	845,830	(336,028)
Increase (decrease) in stockholders' equity
Net income for common stock	54,721		54,721
Other comprehensive (loss) income, net of tax benefits	20,488			20,488
Share-based expenses and other, net (in shares)		101,000
Share-based expenses and other, net	(307)	$ (307)
Common stock dividends	(39,446)		(39,446)
Ending balance (in shares) at Mar. 31, 2023		109,572,000
Ending balance at Mar. 31, 2023	$ 2,237,955	$ 1,692,390	861,105	(315,540)
Beginning balance (in shares) at Dec. 31, 2022	109,470,795	109,471,000
Beginning balance at Dec. 31, 2022	$ 2,202,499	$ 1,692,697	845,830	(336,028)
Increase (decrease) in stockholders' equity
Net income for common stock	150,449
Other comprehensive (loss) income, net of tax benefits	$ (21,996)
Ending balance (in shares) at Sep. 30, 2023	110,086,035	110,086,000
Ending balance at Sep. 30, 2023	$ 2,224,354	$ 1,704,447	877,931	(358,024)
Beginning balance (in shares) at Mar. 31, 2023		109,572,000
Beginning balance at Mar. 31, 2023	2,237,955	$ 1,692,390	861,105	(315,540)
Increase (decrease) in stockholders' equity
Net income for common stock	54,610		54,610
Other comprehensive (loss) income, net of tax benefits	(7,609)			(7,609)
Share-based expenses and other, net (in shares)		40,000
Share-based expenses and other, net	3,868	$ 3,868
Common stock dividends	(39,447)		(39,447)
Ending balance (in shares) at Jun. 30, 2023		109,612,000
Ending balance at Jun. 30, 2023	2,249,377	$ 1,696,258	876,268	(323,149)
Increase (decrease) in stockholders' equity
Net income for common stock	41,118		41,118
Other comprehensive (loss) income, net of tax benefits	(34,875)			(34,875)
Dividend reinvestment and stock purchase plan (in shares)		474,000
Dividend reinvestment and stock purchase plan	5,827	$ 5,827
Share-based expenses and other, net	2,362	$ 2,362
Common stock dividends	$ (39,455)		(39,455)
Ending balance (in shares) at Sep. 30, 2023	110,086,035	110,086,000
Ending balance at Sep. 30, 2023	$ 2,224,354	$ 1,704,447	$ 877,931	$ (358,024)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.36	$ 0.36	$ 0.36	$ 0.35	$ 0.35	$ 0.35

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net income	$ 151,866	$ 185,207
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	200,722	190,075
Other amortization	32,744	28,916
Provision for credit losses	10,053	(692)
Loans originated, held for sale	(37,288)	(120,195)
Proceeds from sale of loans, held for sale	36,086	126,357
Gain on sales of investment securities, net and equity-method investment	0	(8,123)
Gain on sale of loans, net	(701)	(1,630)
Deferred income taxes	(5,594)	(21,631)
Share-based compensation expense	8,281	7,337
Allowance for equity funds used during construction	(11,073)	(7,431)
Other	(5,315)	(5,392)
Changes in assets and liabilities
Decrease (increase) in accounts receivable and unbilled revenues, net	41,494	(159,619)
Decrease (increase) in fuel oil stock	38,587	(127,413)
Decrease in regulatory assets	13,908	34,278
Increase in regulatory liabilities	32,454	29,294
Increase in accounts, interest and dividends payable	70,850	39,009
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(24,860)	73,279
Decrease in defined benefit pension and other postretirement benefit plans liability	(6,722)	(4,228)
Change in other assets and liabilities	(70,354)	(44,411)
Net cash provided by operating activities	475,138	212,987
Cash flows from investing activities
Available-for-sale investment securities purchased	0	(366,177)
Principal repayments on available-for-sale investment securities	117,042	285,519
Proceeds from repayments or maturities of held-to-maturity investment securities	52,823	10,433
Purchase of stock from Federal Home Loan Bank	(76,040)	(93,000)
Redemption of stock from Federal Home Loan Bank	84,600	88,000
Net increase in loans held for investment	(283,126)	(395,185)
Proceeds from sale of commercial loans	94,665	0
Purchase of loans held for investment	(26,195)	(77,274)
Capital expenditures	(342,364)	(236,278)
Contributions to low income housing investments	(418)	(740)
Acquisition of business	0	(25,706)
Other	9,375	15,646
Net cash used in investing activities	(369,638)	(794,762)
Cash flows from financing activities
Net increase (decrease) in deposit liabilities	(43,655)	86,673
Net increase (decrease) in short-term borrowings with original maturities of three months or less	(137,650)	117,127
Net increase (decrease) in other bank borrowings with original maturities of three months or less	(596,810)	320,735
Proceeds from issuance of short-term debt	65,000	0
Repayment of short-term debt	(100,000)	0
Proceeds from issuance of other bank borrowings	1,000,000	0
Repayment of other bank borrowings	(250,000)	0
Proceeds from issuance of long-term debt	625,000	67,312
Repayment of long-term debt	(64,317)	(16,752)
Withheld shares for employee taxes on vested share-based compensation	(2,356)	(3,158)
Net proceeds from issuance of common stock	437	0
Common stock dividends	(112,957)	(114,917)
Preferred stock dividends of subsidiaries	(1,417)	(1,417)
Other	(9,409)	(6,112)
Net cash provided by financing activities	371,866	449,491
Net increase (decrease) in cash, cash equivalents and restricted cash	477,366	(132,284)
Cash, cash equivalents and restricted cash, beginning of period	204,927	311,462
Cash, cash equivalents and restricted cash, end of period	682,293	179,178
Less: Restricted cash	(15,164)	(3,898)
Cash and cash equivalents	$ 667,129	$ 175,280

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues
Revenues	$ 901,873			$ 1,042,197			$ 2,725,795	$ 2,722,872
Expenses
Total expenses	826,762			940,082			2,464,187	2,434,813
Total operating income	75,111			102,115			261,608	288,059
Allowance for equity funds used during construction	4,000			2,552			11,073	7,431
Retirement defined benefits credit—other than service costs	1,256			1,039			3,561	3,528
Allowance for borrowed funds used during construction	1,372			825			3,798	2,401
Income (loss) before income taxes	49,110			79,905			188,781	233,602
Income taxes	7,521			17,352			36,915	48,395
Net income (loss)	41,589			62,553			151,866	185,207
Preferred stock dividends of Hawaiian Electric	471			471			1,417	1,417
Net income for common stock	41,118	$ 54,610	$ 54,721	62,082	$ 52,541	$ 69,167	150,449	183,790
Hawaiian Electric Company, Inc. and Subsidiaries
Revenues
Revenues	794,987			955,971			2,419,539	2,483,636
Expenses
Fuel oil	267,438			383,602			881,692	874,543
Purchased power	177,795			225,209			498,990	606,827
Other operation and maintenance	142,508			121,110			407,184	371,259
Depreciation	61,165			58,711			182,781	175,921
Taxes, other than income taxes	74,723			88,290			228,034	231,288
Total expenses	723,629			876,922			2,198,681	2,259,838
Total operating income	71,358			79,049			220,858	223,798
Allowance for equity funds used during construction	4,000			2,552			11,073	7,431
Retirement defined benefits credit—other than service costs	1,132			895			3,227	2,876
Interest expense and other charges, net	(22,447)			(19,609)			(63,565)	(56,735)
Allowance for borrowed funds used during construction	1,372			825			3,798	2,401
Income (loss) before income taxes	55,415			63,712			175,391	179,771
Income taxes	11,456			13,450			38,126	37,967
Net income	43,959			50,262			137,265	141,804
Preferred stock dividends of subsidiaries	228			228			686	686
Net income (loss)	43,731			50,034			136,579	141,118
Preferred stock dividends of Hawaiian Electric	270			270			810	810
Net income for common stock	$ 43,461	$ 45,299	$ 47,009	$ 49,764	$ 44,135	$ 46,409	$ 135,769	$ 140,308

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Comprehensive Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Net income for common stock	$ 41,118	$ 54,610	$ 54,721	$ 62,082	$ 52,541	$ 69,167	$ 150,449	$ 183,790
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses (gains) recognized during the period in net periodic benefit cost, net of taxes of $(190), $1,877, $(516) and $3,393, respectively	(446)			5,606			(1,160)	10,229
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $163, $(1,839), $458 and $(3,320), respectively	470			(5,303)			1,321	(9,572)
Other comprehensive income (loss), net of taxes	(34,875)	(7,609)	20,488	(96,012)	(87,840)	(117,159)	(21,996)	(301,011)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	6,243			(33,930)			128,453	(117,221)
Hawaiian Electric Company, Inc. and Subsidiaries
Net income for common stock	43,461	45,299	47,009	49,764	44,135	46,409	135,769	140,308
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses (gains) recognized during the period in net periodic benefit cost, net of taxes of $(190), $1,877, $(516) and $3,393, respectively	(547)			5,411			(1,487)	9,782
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $163, $(1,839), $458 and $(3,320), respectively	470			(5,303)			1,321	(9,572)
Other comprehensive income (loss), net of taxes	(77)	$ (44)	$ (45)	108	$ 51	$ 51	(166)	210
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ 43,384			$ 49,872			$ 135,603	$ 140,518

Condensed Consolidated Statem_9

Condensed Consolidated Statements of Comprehensive Income (unaudited) - HECO (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	$ (153)	$ 1,943	$ (397)	$ 3,549
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	163	(1,839)	458	(3,320)
Hawaiian Electric Company, Inc. and Subsidiaries
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	(190)	1,877	(516)	3,393
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	$ 163	$ (1,839)	$ 458	$ (3,320)

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheets (unaudited) - HECO - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Utility property, plant and equipment
Total property, plant and equipment, net	$ 5,917,342	$ 5,687,003
Current assets
Cash and cash equivalents	667,129	199,877
Restricted cash	15,164	5,050
Other long-term assets
Operating lease right-of-use assets	99,466	115,684
Total assets	16,991,818	16,284,244
Capitalization
Retained earnings	877,931	845,830
Accumulated other comprehensive income, net of taxes-retirement benefit plans	(358,024)	(336,028)
Common stock equity	2,224,354	2,202,499
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Commitments and contingencies (Notes 2 and 4)
Current liabilities
Short-term borrowings	0	172,568
Interest and preferred dividends payable	57,901	21,333
Deferred credits and other liabilities
Deferred income taxes	258,942	262,462
Total liabilities and shareholders’ equity	16,991,818	16,284,244
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Land	52,098	52,060
Plant and equipment	8,199,828	7,979,510
Right-of-use assets - finance lease	124,372	48,371
Less accumulated depreciation	(3,222,030)	(3,086,499)
Construction in progress	357,289	275,353
Utility property, plant and equipment, net	5,511,557	5,268,795
Nonutility property, plant and equipment, less accumulated depreciation of $39 and $63 as of September 30, 2023 and December 31, 2022, respectively	6,942	6,945
Total property, plant and equipment, net	5,518,499	5,275,740
Current assets
Cash and cash equivalents	274,854	39,242
Restricted cash	2,000	0
Customer accounts receivable, net	241,762	288,338
Accrued unbilled revenues, net	179,327	183,280
Other accounts receivable, net	89,823	13,567
Fuel oil stock, at average cost	152,768	191,530
Materials and supplies, at average cost	99,526	79,568
Prepayments and other	54,538	33,482
Regulatory assets	57,921	52,273
Total current assets	1,152,519	881,280
Other long-term assets
Operating lease right-of-use assets	76,061	89,318
Regulatory assets	173,276	190,240
Other	158,092	160,889
Total other long-term assets	407,429	440,447
Total assets	7,078,447	6,597,467
Capitalization
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 17,854,278 shares at September 30, 2023 and December 31, 2022)	119,048	119,048
Premium on capital stock	810,955	810,955
Retained earnings	1,450,325	1,411,306
Accumulated other comprehensive income, net of taxes-retirement benefit plans	2,695	2,861
Common stock equity	2,383,023	2,344,170
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,934,044	1,584,854
Total capitalization	4,351,360	3,963,317
Commitments and contingencies (Notes 2 and 4)
Current liabilities
Current portion of operating lease liabilities	17,012	19,095
Current portion of long-term debt, net	99,996	99,962
Accounts payable	201,699	202,492
Interest and preferred dividends payable	30,058	17,176
Taxes accrued, including revenue taxes	274,272	289,902
Regulatory liabilities	26,325	31,475
Other	163,307	85,596
Total current liabilities	812,669	833,665
Deferred credits and other liabilities
Operating lease liabilities	66,299	78,715
Finance lease liabilities	118,140	46,048
Deferred income taxes	385,675	384,430
Regulatory liabilities	1,075,449	1,024,175
Unamortized tax credits	89,747	95,300
Defined benefit pension liability	48,884	49,748
Other	130,224	122,069
Total deferred credits and other liabilities	1,914,418	1,800,485
Total liabilities and shareholders’ equity	7,078,447	6,597,467
Hawaiian Electric Company, Inc. and Subsidiaries | Nonrelated Party
Current liabilities
Short-term borrowings	$ 0	$ 87,967

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheets (unaudited) - HECO (parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Shareholders’ equity
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, shares outstanding (in shares)	110,086,035	109,470,795
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Accumulated depreciation on other property, plant and equipment	$ 39	$ 63
Shareholders’ equity
Common stock, par value (in dollars per share)	$ 6.67	$ 6.67
Common stock, authorized shares (in shares)	50,000,000	50,000,000
Common stock, shares outstanding (in shares)	17,854,278	17,854,278

Condensed Consolidated State_10

Condensed Consolidated Statements of Changes in Common Stock Equity (unaudited) - HECO - USD ($) $ in Thousands	Total	Hawaiian Electric Company, Inc. and Subsidiaries	Common stock	Common stock Hawaiian Electric Company, Inc. and Subsidiaries	Premium on capital stock Hawaiian Electric Company, Inc. and Subsidiaries	Retained earnings	Retained earnings Hawaiian Electric Company, Inc. and Subsidiaries	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) Hawaiian Electric Company, Inc. and Subsidiaries
Beginning balance (in shares) at Dec. 31, 2021			109,312,000	17,753,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	$ 2,261,899	$ 1,685,496	$ 118,376	$ 798,526	$ 757,921	$ 1,348,277	$ (52,533)	$ (3,280)
Increase (decrease) in stockholders' equity
Net income for common stock	69,167	46,409				69,167	46,409
Other comprehensive (loss) income, net of tax benefits	(117,159)	51						(117,159)	51
Common stock dividends	(38,301)	(31,475)				(38,301)	(31,475)
Ending balance (in shares) at Mar. 31, 2022			109,431,000	17,753,000
Ending balance at Mar. 31, 2022	2,303,642	2,276,884	$ 1,684,547	$ 118,376	798,526	788,787	1,363,211	(169,692)	(3,229)
Beginning balance (in shares) at Dec. 31, 2021			109,312,000	17,753,000
Beginning balance at Dec. 31, 2021	2,390,884	2,261,899	$ 1,685,496	$ 118,376	798,526	757,921	1,348,277	(52,533)	(3,280)
Increase (decrease) in stockholders' equity
Net income for common stock	183,790	140,308
Other comprehensive (loss) income, net of tax benefits	(301,011)	210
Common stock dividends		(94,425)
Ending balance (in shares) at Sep. 30, 2022			109,470,000	17,753,000
Ending balance at Sep. 30, 2022	2,162,922	2,307,992	$ 1,689,672	$ 118,376	798,526	826,794	1,394,160	(353,544)	(3,070)
Beginning balance (in shares) at Mar. 31, 2022			109,431,000	17,753,000
Beginning balance at Mar. 31, 2022	2,303,642	2,276,884	$ 1,684,547	$ 118,376	798,526	788,787	1,363,211	(169,692)	(3,229)
Increase (decrease) in stockholders' equity
Net income for common stock	52,541	44,135				52,541	44,135
Other comprehensive (loss) income, net of tax benefits	(87,840)	51						(87,840)	51
Common stock dividends	(38,301)	(31,475)				(38,301)	(31,475)
Ending balance (in shares) at Jun. 30, 2022			109,467,000	17,753,000
Ending balance at Jun. 30, 2022	2,233,504	2,289,595	$ 1,688,009	$ 118,376	798,526	803,027	1,375,871	(257,532)	(3,178)
Increase (decrease) in stockholders' equity
Net income for common stock	62,082	49,764				62,082	49,764
Other comprehensive (loss) income, net of tax benefits	(96,012)	108						(96,012)	108
Common stock dividends	(38,315)	(31,475)				(38,315)	(31,475)
Ending balance (in shares) at Sep. 30, 2022			109,470,000	17,753,000
Ending balance at Sep. 30, 2022	$ 2,162,922	2,307,992	$ 1,689,672	$ 118,376	798,526	826,794	1,394,160	(353,544)	(3,070)
Beginning balance (in shares) at Dec. 31, 2022	109,470,795		109,471,000	17,854,000
Beginning balance at Dec. 31, 2022	$ 2,202,499	2,344,170	$ 1,692,697	$ 119,048	810,955	845,830	1,411,306	(336,028)	2,861
Increase (decrease) in stockholders' equity
Net income for common stock	54,721	47,009				54,721	47,009
Other comprehensive (loss) income, net of tax benefits	20,488	(45)						20,488	(45)
Common stock dividends	(39,446)	(32,250)				(39,446)	(32,250)
Ending balance (in shares) at Mar. 31, 2023			109,572,000	17,854,000
Ending balance at Mar. 31, 2023	$ 2,237,955	2,358,884	$ 1,692,390	$ 119,048	810,955	861,105	1,426,065	(315,540)	2,816
Beginning balance (in shares) at Dec. 31, 2022	109,470,795		109,471,000	17,854,000
Beginning balance at Dec. 31, 2022	$ 2,202,499	2,344,170	$ 1,692,697	$ 119,048	810,955	845,830	1,411,306	(336,028)	2,861
Increase (decrease) in stockholders' equity
Net income for common stock	150,449	135,769
Other comprehensive (loss) income, net of tax benefits	$ (21,996)	(166)
Common stock dividends		(96,750)
Ending balance (in shares) at Sep. 30, 2023	110,086,035		110,086,000	17,854,000
Ending balance at Sep. 30, 2023	$ 2,224,354	2,383,023	$ 1,704,447	$ 119,048	810,955	877,931	1,450,325	(358,024)	2,695
Beginning balance (in shares) at Mar. 31, 2023			109,572,000	17,854,000
Beginning balance at Mar. 31, 2023	2,237,955	2,358,884	$ 1,692,390	$ 119,048	810,955	861,105	1,426,065	(315,540)	2,816
Increase (decrease) in stockholders' equity
Net income for common stock	54,610	45,299				54,610	45,299
Other comprehensive (loss) income, net of tax benefits	(7,609)	(44)						(7,609)	(44)
Common stock dividends	(39,447)	(32,250)				(39,447)	(32,250)
Ending balance (in shares) at Jun. 30, 2023			109,612,000	17,854,000
Ending balance at Jun. 30, 2023	2,249,377	2,371,889	$ 1,696,258	$ 119,048	810,955	876,268	1,439,114	(323,149)	2,772
Increase (decrease) in stockholders' equity
Net income for common stock	41,118	43,461				41,118	43,461
Other comprehensive (loss) income, net of tax benefits	(34,875)	(77)						(34,875)	(77)
Common stock dividends	$ (39,455)	(32,250)				(39,455)	(32,250)
Ending balance (in shares) at Sep. 30, 2023	110,086,035		110,086,000	17,854,000
Ending balance at Sep. 30, 2023	$ 2,224,354	$ 2,383,023	$ 1,704,447	$ 119,048	$ 810,955	$ 877,931	$ 1,450,325	$ (358,024)	$ 2,695

Condensed Consolidated State_11

Condensed Consolidated Statements of Cash Flows (unaudited) - HECO - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	$ 200,722	$ 190,075
Other amortization	32,744	28,916
Deferred income taxes	(5,594)	(21,631)
Allowance for equity funds used during construction	(11,073)	(7,431)
Other	(5,315)	(5,392)
Changes in assets and liabilities
Decrease (increase) in fuel oil stock	38,587	(127,413)
Decrease in regulatory assets	13,908	34,278
Increase in regulatory liabilities	32,454	29,294
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(24,860)	73,279
Decrease in defined benefit pension and other postretirement benefit plans liability	(6,722)	(4,228)
Change in other assets and liabilities	(70,354)	(44,411)
Net cash provided by operating activities	475,138	212,987
Cash flows from investing activities
Capital expenditures	(342,364)	(236,278)
Other	9,375	15,646
Net cash used in investing activities	(369,638)	(794,762)
Cash flows from financing activities
Common stock dividends	(112,957)	(114,917)
Proceeds from issuance of long-term debt	625,000	67,312
Net increase (decrease) in short-term borrowings from non-affiliates and affiliates with original maturities of three months or less	(137,650)	117,127
Other	(9,409)	(6,112)
Net cash provided by financing activities	371,866	449,491
Net increase (decrease) in cash, cash equivalents and restricted cash	477,366	(132,284)
Cash, cash equivalents and restricted cash, beginning of period	204,927	311,462
Cash, cash equivalents and restricted cash, end of period	682,293	179,178
Less: Restricted cash	(15,164)	(3,898)
Cash and cash equivalents	667,129	175,280
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	137,265	141,804
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	182,781	175,921
Other amortization	19,639	19,044
Deferred income taxes	(8,807)	(27,671)
State refundable credit	(8,625)	(8,275)
Bad debt expense	3,937	4,406
Allowance for equity funds used during construction	(11,073)	(7,431)
Other	549	94
Changes in assets and liabilities
Decrease (increase) in accounts receivable	40,187	(64,404)
Decrease (increase) in accrued unbilled revenues	3,759	(91,256)
Decrease (increase) in fuel oil stock	38,762	(125,647)
Increase in materials and supplies	(19,958)	(5,702)
Decrease in regulatory assets	13,908	34,278
Increase in regulatory liabilities	32,454	29,294
Increase in accounts payable	26,967	18,108
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(18,754)	57,681
Decrease in defined benefit pension and other postretirement benefit plans liability	(6,202)	(3,647)
Change in other assets and liabilities	(20,678)	(22,430)
Net cash provided by operating activities	406,111	124,167
Cash flows from investing activities
Capital expenditures	(334,497)	(225,876)
Other	5,216	6,750
Net cash used in investing activities	(329,281)	(219,126)
Cash flows from financing activities
Common stock dividends	(96,750)	(94,425)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(1,496)	(1,496)
Proceeds from issuance of long-term debt	350,000	60,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliates with original maturities of three months or less	(87,967)	97,450
Payments of obligations under finance leases	(2,162)	(266)
Other	(843)	(258)
Net cash provided by financing activities	160,782	61,005
Net increase (decrease) in cash, cash equivalents and restricted cash	237,612	(33,954)
Cash, cash equivalents and restricted cash, beginning of period	39,242	55,258
Cash, cash equivalents and restricted cash, end of period	276,854	21,304
Less: Restricted cash	(2,000)	0
Cash and cash equivalents	$ 274,854	$ 21,304

Basis of presentation

Basis of presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	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, 2022. 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, 2023 and December 31, 2022 and the results of their operations for the three and nine months ended September 30, 2023 and 2022 and cash flows for the nine months ended September 30, 2023 and 2022. 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 updated the accounting for certain loan refinancings and restructurings, and included the required disclosures in the Notes herein in accordance with ASU No. 2022-02.

Maui windstorm and wildfires

Maui windstorm and wildfires	9 Months Ended
	Sep. 30, 2023
Unusual or Infrequent Items, or Both [Abstract]
Maui windstorm and wildfires	Maui windstorm and wildfires On August 8, 2023, a number of brush fires in the West Maui (Lahaina) and Upcountry Maui areas, caused widespread property damage, including damage to property of the Utilities, and at least 99 fatalities in Lahaina (the Maui windstorm and wildfires). The Maui windstorm and wildfires were fueled by extreme winds and drought-like conditions in those parts of Maui. According to the County of Maui, in addition to the loss of life, over 3,450 acres burned and over 2,500 structures were destroyed. In Lahaina, a fire was reported at about 6:30 a.m. (the “Morning Fire”) and appears to have been caused by power lines that fell in high winds and spread into a field near the Intermediate School. The Maui County Fire Department responded promptly to the Morning Fire, and according to the Fire Department’s public statement that morning, by 9 a.m. the Morning Fire was “100% contained.” The Maui County fire chief subsequently reported that the Fire Department had determined that the Morning Fire was “extinguished.” Shortly before 3 p.m. that day, while the power remained off, Utility crew members saw a small fire in the same field about 75 yards away from Lahainaluna Road. They immediately called 911 and reported the fire (the “Afternoon Fire”). At the time of the Afternoon Fire, the Company’s power lines in the area where that fire ignited were not energized and had not been energized for more than six hours. By the time the Maui County Fire Department arrived back on the scene, it was not able to contain the Afternoon Fire and it spread out of control toward Lahaina. No determination as to the cause of the Afternoon Fire has been made. The Company believes that most of the property damage and all of the fatalities are from the Afternoon Fire. The circumstances surrounding the Maui windstorm and wildfires are currently the subject of several investigations. As of September 30, 2023, on a consolidated basis, the Company has incurred $27.6 million of incremental expenses related to the Maui windstorm and wildfires, which excludes the $75 million contribution and insurance receivable as discussed in Subsequent event - One ‘Ohana Initiative below. In addition, the Utilities incurred $8.0 million of total capital costs related to the Maui windstorm and wildfires. Restoration costs and recoveries. The Utilities have since restored electric service to more than 95% of homes and businesses on the island of Maui that were affected by the Maui windstorm and wildfires. Replacement of poles, transformers, power lines and other equipment in and around Lahaina and Upcountry Maui that were damaged is ongoing. On August 21, 2023, Maui Electric filed an application with the Public Utilities Commission of the State of Hawaii (PUC), requesting the PUC’s approval for the deferral accounting treatment for incremental non-labor expenses related to the Utilities’ response and restoration efforts and other expenses arising from and associated with the Maui windstorm and wildfires, beginning from August 8, 2023 and until December 31, 2024, to preserve the Utilities’ ability to seek cost recovery through a separate request when the total costs and impacts are better known. On October 13, 2023, the Utilities filed an amended application to add Hawaiian Electric and Hawaii Electric Light as applicants. As of September 30, 2023, the amended application was subject to the PUC’s approval and no costs have been deferred. While the Utilities plan to seek recovery of damage to covered electrical infrastructure under their insurance programs, the timing and amount of any insurance recoveries are not determinable at this time and as such, an insurance receivable has not been recorded as of the date of this filing. The Company’s property insurance has a total policy limit of $500 million with a $1 million retention for damages related to Utility-owned non-generating assets, including overhead transmission and distribution assets within 1,000 feet of such assets. The Utilities believe capital expenditures related to restoration that are not covered by insurance will be managed under their current regulatory mechanisms, the recovery of which would be subject to PUC approval. ASB’s Lahaina branch, including most of its contents and automated teller machine, was destroyed in the fire. The Bank leased the property of its Lahaina location. Third-party claims and other proceedings. Multiple civil and class action lawsuits related to the Maui windstorm and wildfires have been filed in the Maui and Oahu Circuit Courts against HEI, the Utilities, and other defendants, including the County of Maui, the State of Hawaii and related state entities, private landowners and developers, and telecommunications companies (collectively “tort-related legal claims”). Most of these lawsuits allege that the defendants were responsible for, and/or negligent in failing to prevent or respond to the wildfires that led to the property destruction and loss of life. Other claims include, among other things, personal injury, wrongful death, emotional distress and inverse condemnation. One lawsuit asserting similar theories and claims was filed by the County of Maui against HEI and the Utilities. Additional lawsuits may be filed against the Company and other defendants in the future. The plaintiffs seek to recover damages and other costs, including punitive damages. For a discussion of the Company’s assessment of potential exposure to claims, see Subsequent event - One ‘Ohana Initiative below. On August 24, 2023, a putative securities class action captioned Bhangal v. Hawaiian Electric Industries, Inc., et al., No.: 3:23-cv-04332-JSC was filed in the United States District Court for the Northern District of California. The lawsuit alleges violations of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder against HEI and certain of its current and former officers, and Section 20(a) of the Exchange Act against certain of HEI’s current and former officers. Plaintiff broadly alleges that HEI and certain of its current and former officers made materially false and misleading statements or omissions regarding HEI’s wildfire prevention and safety protocols and related matters. Plaintiffs seek unspecified monetary damages. On October 5, 2023, the court entered an order extending Defendants’ time to respond to the complaint until after a lead plaintiff has been appointed by the court in accordance with relevant procedures of the Private Securities Litigation Reform Act of 1995 and Defendants have not yet responded to the complaint. A hearing on competing motions for appointment of lead plaintiff is scheduled for November 30, 2023. The Company intends to vigorously defend against this action. There is no assurance that the Company will be successful in the defense of the litigation or that insurance will be available or adequate to fund any potential settlement or judgment or the litigation costs of the action. The Company is unable to predict the outcome or reasonably estimate a range of possible loss at this time. Also, on September 11, 2023, a putative shareholder derivative action captioned Rice v. Connors, et al., No. 1CCV-23-0001181 was filed in the Circuit Court of the First Circuit, State of Hawai‘i. This action is purportedly brought by a shareholder on behalf of nominal defendants HEI and Hawaiian Electric against certain current and former officers and directors of HEI and Hawaiian Electric. Plaintiff asserts Hawai‘i state law breach of fiduciary duty, abuse of control, corporate waste and unjust enrichment claims allegedly arising from the fires that occurred on Maui in August 2023 and certain of HEI’s prior public disclosures. Plaintiff seeks, on behalf of HEI and Hawaiian Electric, compensatory and punitive damages, restitution and equitable relief in the form of changes to HEI’s corporate governance, policies and culture. On October 27, 2023, the plaintiff filed an amended complaint adding claims for aiding and abetting state law breach of fiduciary duty, and for purported violations of Hawai‘i’s Nonprofit Corporations Act §414D-302. Defendants have not yet been served, and no substantive proceedings have occurred. While the Company has obligations to indemnify and/or advance the defendants’ legal fees and costs in connection with this lawsuit, any monetary recovery in the derivative litigation should accrue to the Company. The Company is unable to predict the ultimate outcome and is unable to make a meaningful estimate of the amount or range of loss, if any, that could result from any unfavorable outcome. Legal costs in connection with the litigation and loss contingencies are expensed as incurred. For the three months ended September 30, 2023, the Company incurred and accrued $10.8 million ($6.3 million by the Utilities) of legal expenses to address these lawsuits and other legal matters related to the Maui windstorm and wildfires. The Company has $165 million of excess liability insurance for third party claims, including claims related to wildfires, with a possible retention of up to $1.5 million. Reimbursement of legal costs under the policy are recorded as a reduction of expense when probable and reasonably estimable. Subsequent event - One ‘Ohana Initiative. On November 8, 2023, Hawaii Governor Josh Green announced the One ‘Ohana Initiative (the Initiative) as a collective path forward to recovery from the Maui windstorm and wildfires. The Initiative is a new humanitarian aid fund expected to exceed $150 million, with the objective to compensate, in an expedited manner, those who have lost loved ones and those who have suffered severe injuries in the Maui windstorm and wildfires. The Initiative provides an alternative to a lengthy and expensive legal process. Beneficiaries are anticipated to receive payments of more than $1 million each as early as the second quarter of 2024 after an administrator is selected and processes are established. In exchange for receiving such a payment, beneficiaries will be required to waive their ability to pursue legal claims for wrongful death and severe injuries. Hawaiian Electric fully supports this humanitarian initiative and has pledged to contribute up to $75 million. The Governor announced that other parties, including the State of Hawaii, the County of Maui, and Kamehameha Schools have all agreed to contribute to the fund, and additional contributions from other parties are possible. Hawaiian Electric’s contribution to the Initiative will be less than half of the total, and Hawaiian Electric's insurance carriers have agreed to fund its share of the contributions to the fund. Hawaiian Electric’s contribution is reflective of its commitment to join with community partners to provide solutions to promote Maui’s recovery. Hawaiian Electric’s commitment to contribute to the Initiative is not an admission of guilt or reflection of fault or liability related to the wildfires. In connection with its commitment to contribute to the Initiative, the Utilities accrued, as of September 30, 2023, $75 million, and concurrently, recorded an insurance reimbursement receivable of an equivalent amount as the recovery of the Utilities’ contribution to the Initiative under its excess liability insurance policy is deemed probable. The Initiative contemplates additional phases, including a process to potentially resolve remaining tort-related legal claims, as well as seeking legislation to reduce wildfire risk and provide financial support to help ensure a strong energy future for all of Hawaii. While the Utilities plan to participate in a process with the State and community partners to explore solutions to support Maui’s recovery and compensate victims for damages, the Utilities are unable to reasonably estimate any additional potential loss, or range of loss. If additional liabilities were to be incurred, the loss could be material to the Utilities’ results of operations, financial positions and cash flows. If any such losses were to be sufficiently high, the Utilities may not have liquidity or the ability to access liquidity at levels necessary to satisfy such losses. The Utilities charged the pending contribution to expense, included in “Expenses-Other operation and maintenance” and “Expenses-Electric utility” in the Hawaiian Electric and subsidiaries Condensed Consolidated Statements of Income and HEI and subsidiaries’ Condensed Consolidated Statements of Income, respectively, which was offset by the probable insurance recovery. (in millions) September 30, 2023 2023 Maui windstorm and wildfires One ‘Ohana Initiative contribution 1 $ 75 Insurance recovery 2 (75) 1 As of September 30, 2023, One ‘Ohana Initiative contribution is included in “Current liabilities-Other” and “Liabilities-Other” in the Hawaiian Electric and subsidiaries’ Condensed Consolidated Balance Sheet and HEI and subsidiaries’ Condensed Consolidated Balance Sheet, respectively. 2 As of September 30, 2023, One ‘Ohana Initiative insurance recoveries is included in “Current assets-Other accounts receivables, net” and “Assets-Accounts receivable and unbilled revenues, net” in the Hawaiian Electric and subsidiaries’ Condensed Consolidated Balance Sheet and HEI and subsidiaries’ Condensed Consolidated Balance Sheet, respectively.

Segment financial information

Segment financial information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment financial information	Segment financial information (in thousands) Electric utility Bank Other Total Three months ended September 30, 2023 Revenues $ 794,987 $ 100,974 $ 5,912 $ 901,873 Income (loss) before income taxes $ 55,415 $ 12,749 $ (19,054) $ 49,110 Income taxes (benefit) 11,456 1,384 (5,319) 7,521 Net income (loss) 43,959 11,365 (13,735) 41,589 Preferred stock dividends of subsidiaries 498 — (27) 471 Net income (loss) for common stock $ 43,461 $ 11,365 $ (13,708) $ 41,118 Nine months ended September 30, 2023 Revenues $ 2,419,539 $ 291,716 $ 14,540 $ 2,725,795 Income (loss) before income taxes $ 175,391 $ 61,511 $ (48,121) $ 188,781 Income taxes (benefit) 38,126 11,380 (12,591) 36,915 Net income (loss) 137,265 50,131 (35,530) 151,866 Preferred stock dividends of subsidiaries 1,496 — (79) 1,417 Net income (loss) for common stock $ 135,769 $ 50,131 $ (35,451) $ 150,449 Total assets (at September 30, 2023) $ 7,078,447 $ 9,657,428 $ 255,943 $ 16,991,818 Three months ended September 30, 2022 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 and other sources $ 2,483,632 $ 231,850 $ 7,390 $ 2,722,872 Intersegment revenues (eliminations) 4 — (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 December 31, 2022) $ 6,597,467 $ 9,545,970 $ 140,807 $ 16,284,244 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. Sales from Hamakua Energy, LLC (Hamakua Energy) to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation.

Electric utility segment

Electric utility segment	9 Months Ended
	Sep. 30, 2023
Electric Utility Subsidiary [Abstract]
Electric utility segment	Electric utility segment Unconsolidated variable interest entities. Power purchase agreements . As of September 30, 2023, the Utilities had four power purchase agreements (PPAs) for firm capacity 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. Commitments and contingencies. Contingencies . The Utilities are subject in the normal course of business to legal, regulatory and environmental proceedings. Excluding the potential liabilities from the Maui windstorm and wildfires, 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. The Utilities record loss contingencies when the outcome of such proceedings is probable and when the amount of the loss is reasonably estimable. The Utilities also evaluate, on a continuous basis, whether developments in such proceedings could cause these assessments or estimates to change. Assessment regarding future events is required when evaluating whether a loss is probable or reasonably possible, and as to whether such loss or a range of such loss is estimable. Management is often unable to estimate a reasonably possible loss, or a range of loss, particularly in cases in which: (i) the damages sought are indeterminate or the basis for the damages claimed is not clear; (ii) proceedings are in early stages; (iii) discovery is not complete; (iv) the matters involve novel or unsettled legal theories; (v) significant facts are in dispute; (vi) a large number of parties are represented (including circumstances in which it is uncertain how liability, if any, would be shared among multiple defendants); (vii) a lower court or administrative agency’s decision or ruling has been appealed; and/or (vii) a wide range of potential outcomes exist. In such cases, there may be considerable uncertainty regarding the timing or ultimate resolution, including any possible loss, fine, penalty, or business impact. August 2023 Maui windstorm and wildfires . See Note 2 of the Condensed Consolidated Financial Statements Power purchase agreements . Purchases from all IPPs were as follows: Three months ended September 30 Nine months ended September 30 (in millions) 2023 2022 2023 2022 Kalaeloa $ 77 $ 101 $ 211 $ 244 AES Hawaii 1 — 21 — 82 HPOWER 17 18 51 56 Hamakua Energy 13 16 52 46 Puna Geothermal Venture 7 13 24 37 Wind IPPs 42 37 99 93 Solar IPPs 21 18 57 44 Other IPPs 2 1 1 5 5 Total IPPs $ 178 $ 225 $ 499 $ 607 1 The term of the PPA with AES Hawaii expired on September 1, 2022 and the AES Hawaii coal plant ceased operations. 2 Includes hydro power and other PPAs. Kalaeloa Partners, L.P. Under a 1988 PPA, as amended, Hawaiian Electric is committed to purchase 208 MW of firm capacity from Kalaeloa. In October 2021, Hawaiian Electric and Kalaeloa signed the Amended and Restated Power Purchase Agreement for Firm Dispatchable Capacity and Energy (Amended and Restated PPA) to extend the PPA for an additional term of 10 years. The Amended and Restated PPA was approved by the PUC on November 23, 2022. The new pricing provisions in the Amended and Restated PPA took effect on January 1, 2023. Stage 1 Renewable PPAs. In February 2018, the Utilities issued their Stage 1 renewable request for proposals and have procured eight renewable PPAs with a total of 274.5 MW capacity. The total annual payments to be made by the Utilities under the eight renewable PPAs are estimated at $71.2 million. The Utilities have received PUC approvals to recover the total projected annual payments under the eight renewable PPAs through the purchased power adjustment clause (PPAC) to the extent such costs are not included in base rates. The Utilities have accounted for the battery portion of three PPAs that were placed in service, including the AES Waikoloa Solar project that began commercial operation on April 21, 2023, which has a capacity of 30 MW with 120 MWh batteries, as finance leases and recorded lease liabilities with corresponding right-of-use assets of $124 million. The timing of the Utilities’ recognition of the expense conforms to ratemaking treatment for the Utilities’ recovery of the cost of electricity and is included in purchased power for the interest and amortization of financing leases related to PPAs. Any material differences between expense recognition and timing of payments are deferred as a regulatory asset or liability in order to match what is being recovered for ratemaking purposes. Hu Honua Bioenergy, LLC (Hu Honua). In May 2012, Hawaii Electric Light signed a PPA, which the PUC approved in December 2013, with Hu Honua for 21.5 MW of renewable, dispatchable firm capacity fueled by locally grown biomass from a facility on the island of Hawaii. Under the terms of the PPA, the Hu Honua plant was scheduled to be in service in 2016. However, Hu Honua encountered construction and litigation delays, which resulted in the termination of the original PPA. Following the termination, Hu Honua filed a lawsuit in the U.S. District Court for the District of Hawaii. The parties reached a settlement that provided that they would execute an amended and restated PPA dated May 9, 2017, provided that the amended and restated PPA was still subject to PUC approval. On May 23, 2022, the PUC issued a decision and order denying the amended and restated PPA, based on, among other things, findings that: (1) the project will result in significant greenhouse gas (GHG) emissions, (2) Hu Honua’s proposed carbon commitment to sequester more GHG emissions than produced by the project are speculative and unsupported, (3) the amended and restated PPA is likely to result in high costs to customers through its relatively high cost of electricity and through potential displacement of other, lower cost, renewable resources, and (4) based on the foregoing, approving the amended and restated PPA is not prudent or in the public interest. On June 2, 2022, Hawaii Electric Light and Hu Honua filed their separate motions for reconsideration, which were denied by the PUC on June 24, 2022. On June 29, 2022, Hu Honua filed its notice of appeal to the Hawaii Supreme Court of the PUC’s May 23, 2022 decision and order denying the amended and restated PPA. On March 13, 2023, the Hawaii Supreme Court affirmed the PUC’s decision denying the amended and restated PPA between Hu Honua and Hawaii Electric Light and entered its judgment on appeal on April 12, 2023. On June 7, 2023, Hu Honua filed a status report with the U.S. District Court for the District of Hawaii, stating, among other things, that because settlement of the underlying federal lawsuit was contingent on timely, non-appealable, final approval of the amended and restated PPA by the PUC, that the Hawaii Supreme Court’s opinion made fulfillment of the condition impossible, and therefore the settlement agreement between the Hawaiian Electric defendants (HEI, Hawaiian Electric, and Hawaii Electric Light) and Hu Honua is null and void and of no further effect. Furthermore, Hu Honua indicated that it intends to reassert its federal antitrust and other claims against the Hawaiian Electric defendants. Hu Honua also stated that to take into account the numerous relevant events which have occurred since its filing of its second amended complaint on January 29, 2018, Hu Honua intends to move for leave to file an amended and supplemental complaint. Hu Honua has yet to file a motion for leave. Molokai New Energy Partners (MNEP). In July 2018, the PUC approved Maui Electric’s PPA with MNEP to purchase solar energy from a photovoltaic (PV) plus battery storage project. The 4.88 MW PV and 3 MW Battery Energy Storage System project was to deliver no more than 2.64 MW at any time to the Molokai system. On March 25, 2020, MNEP filed a complaint in the United Stated District Court for the District of Hawaii against Maui Electric claiming breach of contract. On June 3, 2020, Maui Electric provided a Notice of Default and Termination of the PPA to MNEP terminating the PPA with an effective date of July 10, 2020. Thereafter, MNEP filed an amended complaint to include claims relating to the termination and Hawaiian Electric filed its answer to the amended complaint on September 11, 2020, disputing the facts presented by MNEP and all claims within the original and amended complaint. Currently, the discovery phase is ongoing. Utility projects . Many public utility projects require PUC approval and various permits from other governmental agencies. Difficulties in obtaining, or the inability to obtain, the necessary approvals or permits or community support can result in significantly increased project costs or even cancellation of projects. In the event a project does not proceed, or if it becomes probable the PUC will disallow cost recovery for all or part of a project, or if PUC-imposed caps on project costs are expected to be exceeded, project costs may need to be written off in amounts that could result in significant reductions in Hawaiian Electric’s consolidated net income. Waena Switchyard/Synchronous Condenser Project. In October 2020, to support efforts to increase renewable energy generation and reduce fossil fuel consumption by deactivating current generating units, Maui Electric filed a PUC application to construct a switchyard, which includes the extension of two 69 kV transmission lines and the relocation of another 69 kV transmission line; and the conversion of two generating units to synchronous condensers at Kahului Power Plant in central Maui. In November 2021, the PUC approved Maui Electric’s request to commit funds estimated at $38.8 million for the project, and to recover capital expenditures for the project under Exceptional Project Recovery Mechanism (EPRM) not to exceed $38.8 million, which shall be further reduced to reflect the total project cost exclusive of overhead costs not directly attributable to the project. The Waena Switchyard was placed in service on October 25, 2023. The conversion of the two generating units will be performed after the retirement of Kahului Power Plant Units 3 and 4, which is targeted for the end of 2027. In approving the project, the PUC recognized that the project will facilitate the ability to accommodate increased renewable energy, as contemplated under the EPRM guidelines. As of September 30, 2023, $24.7 million has been incurred for the project. Environmental regulation . The Utilities are subject to environmental laws and regulations that regulate the operation of existing facilities, the construction and operation of new facilities and the proper cleanup and disposal of hazardous waste and toxic substances. Hawaiian Electric, Hawaii Electric Light and Maui Electric, like other utilities, periodically encounter petroleum or other chemical releases associated with current or previous operations. The Utilities report and take action on these releases when and as required by applicable law and regulations. The Utilities believe the costs of responding to such releases identified to date will not have a material effect, individually or in the aggregate, on Hawaiian Electric’s consolidated results of operations, financial condition or liquidity. Former Molokai Electric Company generation site . In 1989, Maui Electric acquired Molokai Electric Company. Molokai Electric Company had sold its former generation site (Site) in 1983, but continued to operate at the Site under a lease until 1985 and left the property in 1987. The federal Environmental Protection Agency (EPA) has since identified environmental impacts in the subsurface soil at the Site. In cooperation with the State of Hawaii Department of Health and EPA, Maui Electric further investigated the Site and the adjacent parcel to determine the extent of impacts of polychlorinated biphenyls (PCBs), residual fuel oils and other subsurface contaminants. Maui Electric has a reserve balance of $2.6 million as of September 30, 2023, representing the probable and reasonably estimable undiscounted cost for remediation of the Site and the adjacent parcel based on presently available information; however, final costs of remediation will depend on the cleanup approach implemented. Additionally, on November 24, 2021, the current landowners of the Site, Misaki’s, Inc., filed a lawsuit against Hawaiian Electric (as alleged successor in interest to Molokai Electric, the prior owner of the Site) in the Circuit Court of the Second Circuit of the State of Hawaii (removed to the U.S. District Court for the District of Hawaii). The complaint, which was subsequently amended to include Maui Electric, alleges that Hawaiian Electric is responsible for remediation of the Site based on the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA), and the Hawaii Environmental Response Law under Hawaii Revised Statutes Chapter 128D, as well as being liable on contractual claims related to a short leaseback period during the transition of ownership from Molokai Electric. On August 24, 2023, a settlement was reached between the parties. Pearl Harbor sediment study . In July 2014, the U.S. Navy notified Hawaiian Electric of the Navy’s determination that Hawaiian Electric is a Potentially Responsible Party under CERCLA responsible for the costs of investigation and cleanup of PCB contamination in sediment in the area offshore of the Waiau Power Plant as part of the Pearl Harbor Superfund Site. Hawaiian Electric was also required by the EPA to assess potential sources and extent of PCB contamination onshore at Waiau Power Plant. As of September 30, 2023, the reserve account balance recorded by Hawaiian Electric to address the PCB contamination was $9.7 million. The reserve balance represents the probable and reasonably estimable undiscounted cost for the onshore and offshore investigation and remediation. The final remediation costs will depend on the actual onshore and offshore cleanup costs. Kapolei pipeline . James Campbell Company (JCC) through its wholly owned subsidiary, Aina Nui Corporation discovered petroleum contamination in ground water during construction of a project in Kapolei in late 2022 and incurred approximately $0.8 million in remediation costs. JCC made a joint demand for these costs in June 2023 to the two companies, including Hawaiian Electric, that have pipelines in the area of the contamination. This demand was updated on September 1, 2023 to $1.2 million to incorporate additional costs. Based on the nature of the contamination, it is not clear whether it is consistent with what was in the Utilities’ pipelines or is wholly or partially the responsibility of the other pipeline owner. At this time, the parties are engaging in settlement discussions and the Utilities are unable to determine the ultimate outcome or the amount of any possible loss. Regulatory proceedings . Decoupling . Decoupling is a regulatory model that is intended to provide the Utilities with financial stability and facilitate meeting the State of Hawaii’s goals to transition to a clean energy economy and achieve an aggressive renewable portfolio standard. Decoupling delinks the utility’s revenues from the utility’s sales, removing the disincentive to promote energy efficiency and accept more renewable energy. Decoupling continues under the PBR Framework. Performance-based regulation framework. On December 23, 2020, the PUC issued a decision and order (PBR D&O) establishing the PBR Framework to govern the Utilities. The PBR Framework incorporates an annual revenue adjustment (ARA) and a suite of new regulatory mechanisms in addition to previously established regulatory mechanisms. Under the PBR Framework, the decoupling mechanism (i.e., the Revenue Balancing Account (RBA)) established by the previous regulatory framework will continue. The existing cost recovery mechanisms will continue as currently implemented (e.g., the Energy Cost Recovery Clause, PPAC, Demand Side Management surcharge, Renewable Energy Infrastructure Program, Demand Response Adjustment Clause, Pension and Other Post-Employment Benefits (OPEB) tracking mechanisms). In addition to annual revenues provided by the ARA, the Utilities may seek relief for extraordinary projects or programs through the Exceptional Project Recovery Mechanism (EPRM) (formerly known as the Major Project Interim Recovery adjustment mechanism) and earn financial rewards for exemplary performance as provided through a portfolio of Performance Incentive Mechanisms (PIMs) and Shared Savings Mechanisms (SSMs). The PBR Framework incorporates a variety of additional performance mechanisms, including Scorecards, Reported Metrics, and an expedited Pilot Process. The PBR Framework also contains a number of safeguards, including a symmetric Earnings Sharing Mechanism (ESM) which protects the Utilities and customers from excessive earnings or losses, as measured by the Utilities’ achieved rate-making ROACE and a Re-Opener mechanism, under which the PUC will open an examination, at its discretion, to determine if adjustments or modifications to specific PBR mechanisms are appropriate. The PBR Framework became fully effective on June 1, 2021. On June 17, 2022, the PUC issued a decision and order (June 2022 D&O) establishing additional PIMs under the PBR Framework for the Utilities. The June 2022 D&O approved two new PIMs, a new SSM, and extended the timeframe for an existing PIM. Specifically, the PUC approved (1) a new (penalty-only) generation-caused interruption reliability PIM, (2) a new (penalty/reward) interconnection requirements study (IRS) PIM, (3) a new (reward-only) Collective Shared Savings Mechanism (CSSM), and (4) a modification and extension of the existing Interim Grid Services PIM (reward-only). On November 23, 2022, the PUC approved the Utilities’ proposed tariffs to implement the aforementioned PIMs with an effective date of January 1, 2023. In addition, the June 2022 D&O instructed the Utilities to prepare and submit: a detailed fossil fuel retirement report (FF Retirement Report) outlining necessary steps to safely and reliably retire certain existing fossil fuel power plants during the first multi-year rate period (MRP); and a functional integration plan (FIP) for distributed energy resources (DER) to increase transparency into the Utilities’ plans and progress for utilizing cost-effective grid services from DERs and ensure that the necessary functionalities and requisite technologies are in place to do so. The PUC also instructed the PBR Working Group to continue its ongoing collaborative efforts to consider other potential new incentive mechanisms and to address other issues raised during the proceeding. On March 30, 2023, the PUC held a PBR Working Group coordination meeting to initiate subgroups on the Long-Term Grid Services PIM, modification/evaluation of existing PIMs, and comprehensive PBR Framework review priority topics. In accordance with the June 2022 D&O, the Utilities filed their FIP on September 30, 2022, Long-Term Grid Services PIM proposal on July 3, 2023, and FF Retirement Report on October 13, 2023. On October 16, 2023, the Utilities filed a request for limited suspension of the Transmission and Distribution (T&D) System Average Interruption Duration Index (SAIDI) PIM, the T&D System Average Interruption Frequency Index (SAIFI) PIM, and the target heat rate provision of Maui Electric Maui Division’s Energy Cost Recovery Clause (ECRC) tariff starting from August 8, 2023. The Utilities requested PUC approval of the suspension request by December 28, 2023. On November 3, 2023, the Utilities, Ulupono Initiative LLC, and the County of Hawaii filed a stipulation on proposed modifications to the RPS-A, Call Center, AMI Utilization, and IRS PIM. The proposed PIM tariff modifications are intended to become effective on January 1, 2024, to the extent they can be approved by December 31, 2023. A decision on the stipulation is pending PUC approval. Revenue adjustment mechanism . Prior to the implementation of the PBR Framework, the revenue adjustment mechanism (RAM) was a major component of the previously established regulatory framework. The RAM was based on the lesser of: (a) an inflationary adjustment for certain O&M expenses and return on investment for certain rate base changes, or (b) cumulative annual compounded increase in Gross Domestic Product Price Index applied to annualized target revenues (the RAM Cap). Under the PBR Framework, the ARA mechanism replaced the RAM, and became effective on June 1, 2021. RAM revenue adjustments approved by the PUC in 2020 will continue to be included in the RBA provision’s target revenue and RBA rate adjustment unless modified with PUC approval. Annual revenue adjustment mechanism . The PBR Framework established a five-year MRP during which there will be no general rate cases. Target revenues will be adjusted according to an index-driven ARA based on (i) an inflation factor, (ii) a predetermined X-factor to encompass productivity, which is set at zero, (iii) a Z-factor to account for exceptional circumstances not in the Utilities’ control and (iv) a customer dividend consisting of a negative adjustment of 0.22% of adjusted revenue requirements compounded annually and a flow through of the “pre-PBR” savings commitment from the management audit recommendations developed in a prior docket at a rate of $6.6 million per year from 2021 to 2025. The implementation of the ARA occurred on June 1, 2021. Pursuant to PUC orders, the Utilities deferred certain COVID-19 related costs in regulatory asset accounts through December 31, 2021. In June 2022, the Utilities submitted an application to seek recovery of the COVID-19 related deferred costs, not to exceed the amount of $27.8 million, through the Z-factor over three years. Annual requests will be limited to actual costs incurred. The Utilities also proposed to accelerate flow-through of the Enterprise Resource Planning system benefits savings currently tracked in regulatory liability accounts to Hawaii Electric Light and Maui Electric customers as part of the customer dividend in the ARA if the PUC approves the application. As of September 30, 2023 , the Utilities have recorded $8.8 million in regulatory assets for deferral of COVID-19 related costs. The updated amounts have been reflected in the Utilities’ COVID-19 Quarterly Reports to the PUC filed on October 31, 2023. Earnings sharing mechanism . The PBR Framework established a symmetrical ESM for achieved rate-making ROACE outside of a 300 basis points dead band above or below the current authorized ROACE of 9.5% for each of the Utilities. There is a 50/50 sharing between customers and Utilities for the achieved rate-making ROACE falling within 150 basis points outside of the dead band in either direction, and a 90/10 sharing for any further difference. A reopening or review of the PBR terms may be triggered if the Utilities credit rating outlook indicates a potential credit downgrade below investment grade status, or if its achieved rate-making ROACE enters the outer most tier of the ESM. On August 31, 2023, the PUC issued an order temporarily suspending the ESM until further notice. The intent of the order is to address the unintended consequence of customers potentially bearing the costs associated with the Maui windstorm and wildfires through the operation of the ESM without prior PUC review. Exceptional project recovery mechanism . Prior to the implementation of the PBR Framework, the PUC established the Major Project Interim Recovery (MPIR) adjustment mechanism and MPIR Guidelines. The MPIR mechanism provides the opportunity to recover revenues for net costs of approved eligible projects placed in service between general rate cases. In establishing the PBR Framework, the MPIR Guidelines were terminated and replaced with the EPRM Guidelines. Although the MPIR Guidelines were terminated and replaced by the EPRM Guidelines, the MPIR mechanism will continue within the PBR Framework to provide recovery of project costs previously approved for recovery under the MPIR. The established EPRM Guidelines permit the Utilities to include the full amount of approved costs in the EPRM for recovery in the first year the project goes into service, pro-rated for the portion of the year the project is in service. Deferred and O&M expense projects are also eligible for EPRM recovery under the EPRM Guidelines. EPRM recoverable costs will be limited to the lesser of actual incurred project costs or PUC‑approved amounts, net of savings. As of September 30, 2023, the Utilities annualized MPIR and EPRM revenue amounts totaled $31.1 million, including revenue taxes, for the Schofield Generating Station ($16.5 million), West Loch PV project ($3.3 million), Grid Modernization Strategy (GMS) Phase 1 project ($11.2 million for all three utilities) and Waiawa UFLS project ($0.1 million) that included the 2023 return on project amount (based on approved amounts) in rate base, depreciation and incremental O&M expenses. The PUC approved the Utilities’ recovery of the annualized 2023 MPIR amounts for the Schofield Generating Station, West Loch PV, GMS Phase 1, and Waiawa UFLS projects effective June 1, 2023 through the RBA rate adjustment. As of September 30, 2023, the PUC approved two EPRM applications for projects totaling $41 million to the extent that the project costs are not included in rates. Currently, the Utilities are seeking EPRM recovery for five projects with total project costs up to $488 million, subject to PUC approval. Pilot process . As part of the PBR Framework, the PUC approved a Pilot Process to foster innovation by establishing an expedited implementation process for pilots that tests new technologies, programs, business models, and other arrangements. Under the Pilot Process, the Utilities submit specific pilot proposals (Pilot Notices) that are within the scope of the approved Workplan to the PUC for their expedited review. The PUC will strive to issue an order addressing a proposed pilot within 45 days of the filing date of a Pilot Notice. If the PUC does not take affirmative action on a Pilot Notice by the end of the 45-day period, the Pilot Notice shall be considered approved as submitted. The PUC may modify the pilot as originally proposed, and the Utilities shall have 15 days to notify the PUC whether the Utilities accept the modification, propose further modification, or withdraw the Pilot Notice. The PUC may also, where necessary, suspend the Pilot Notice for further investigation. The approved Pilot Process includes a cost recovery process that generally allows the Utilities to defer and recover total annual expenditures of approved pilot projects net of revenues, subject to an annual cap of $10 million, over 12 months beginning June 1 of the year following pilot implementation through the RBA rate adjustment, although the PUC may determine on a case-by-case basis that a particular project’s deferred costs should be amortized over a period greater than 12 months. On February 28, 2023, the Utilities filed their annual Pilot Update report covering pilot projects that were active during 2022, including reporting on pilot projects that were initiated prior to the commencement of the Pilot Process. The Pilot Update reported on approximately $0.4 million of 2022 recorded pilot project costs including revenue taxes for the Utilities. The 2022 recorded pilot project costs were included in the Utilities’ proposed adjustments to target revenue in the 2023 spring revenue report filed on March 28, 2023. On March 22, 2023, the PUC issued an order temporarily suspending the filing of Pilot Notices, pending a stakeholder meeting which was convened on June 15, 2023 to discuss potential improvements to the Pilot Process. On July 28, 2023, the PUC issued an order providing additional guidance on the Pilot Process, specifying expectations for future Pilot Notices submitted pursuant to the Pilot Process. The order lifted the temporary suspension on submitting Pilot Notices and the Utilities may file Pilot Notices consistent with the approved Workplan. Performance incentive mechanisms . The PUC has established the following PIMs and SSMs: (1) Service Quality performance incentives, (2) Phase 1 Request for proposal (RFP) PIM for procurement of low-cost renewable energy, (3) Phase 2 RFP PIMs for generation and generation plus storage project, and grid services and standalone storage, (4) PIMs established in the PBR D&O and (5) PIMs and a SSM established in the June 2022 D&O. • Service Quality performance incentives (ongoing). Service Quality performance incentives are measured on a calendar-year basis. The PIM tariff requires the performance targets, deadbands and the amount of maximum financial incentives used to determine the PIM financial incentive levels for each of the PIMs to remain constant in interim periods, unless otherwise amended by order of the PUC. • Service Reliability Performance measured by Transmission and Distribution-caused System Average Interruption Duration and Frequency Indexes (penalties only). Target performance is based on each utility’s historical 10-year average performance with a deadband of one standard deviation. The maximum penalty for each performance index is 20 basis points applied to the common equity share of each respective utility’s approved rate base (or maximum penalties of approximately $6.8 million - for both indices in total for the three utilities). For the 2022 evaluation period, the Utilities incurred $0.1 million in penalties. • Call Center Performance measured by the percentage of calls answered within 30 seconds. Target performance is based on the annual average performance for each utility for the most recent eight quarters with a deadband of 3% above and below the target. The maximum penalty or reward is 8 basis points applied to the common equity share of each respective utility’s approved rate base (or maximum penalties or rewards of approximately $1.4 million - in total for the three utilities). • Phase 1 RFP PIM. Procurement of low-cost variable renewable resources through the RFP process in 2018 is measured by comparison of the procurement price to target prices. The first portion of the incentive was earned upon PUC approval of the PPAs. Based on the seven PPAs approved in 2019, the Utilities recognized $1.7 million in 2019 with the remaining award to be recognized in the year following the in-service date of the projects prorated in proportion to the actual amount of energy utilized, which is estimated to occur from 2023 to 2025. In September 2023, the Utilities accrued $0.1 million (for Hawaiian Electric) in incentives related to one PPA. The net reward was reflected in the 2023 fall revenue report filing. • Phase 2 RFP PIMs. The PUC order issued on October 9, 2019 establishes pricing thresholds, timelines to complete contracting, and other performance criteria for the performance incentive eligibility. The PIMs provide incentives only without penalties. On July 9, 2020, the Utilities filed two Grid Services Purchase Agreements (GSPA) for the Grid Service RFP that potentially qualify for a demand response PIM; however, details of the incentive metrics will be determined by the PUC. On September 15, 2020, the Utilities filed one PPA that qualified for a PIM incentive and on February 16, 2021, the Utilities filed one additional PPA that qualif

Bank segment

Bank segment	9 Months Ended
	Sep. 30, 2023
Bank Subsidiary [Abstract]
Bank segment	Bank segment Selected financial information American Savings Bank, F.S.B. Statements of Income and Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 Interest and dividend income Interest and fees on loans $ 71,540 $ 53,365 $ 204,348 $ 147,499 Interest and dividends on investment securities 14,096 15,052 42,508 43,729 Total interest and dividend income 85,636 68,417 246,856 191,228 Interest expense Interest on deposit liabilities 14,446 1,704 30,944 3,572 Interest on other borrowings 8,598 1,055 25,171 1,199 Total interest expense 23,044 2,759 56,115 4,771 Net interest income 62,592 65,658 190,741 186,457 Provision for credit losses 8,835 (186) 10,053 (692) Net interest income after provision for credit losses 53,757 65,844 180,688 187,149 Noninterest income Fees from other financial services 4,703 4,763 14,391 15,066 Fee income on deposit liabilities 4,924 4,879 14,027 14,122 Fee income on other financial products 2,440 2,416 7,952 7,663 Bank-owned life insurance 2,303 122 5,683 661 Mortgage banking income 341 181 701 1,630 Gain on sale of real estate — — 495 1,002 Other income, net 627 633 2,106 1,480 Total noninterest income 15,338 12,994 45,355 41,624 Noninterest expense Compensation and employee benefits 29,902 28,597 89,500 83,478 Occupancy 5,154 5,577 16,281 16,996 Data processing 5,133 4,509 15,240 13,144 Services 3,627 2,751 8,911 7,712 Equipment 3,125 2,432 8,728 7,163 Office supplies, printing and postage 1,022 1,123 3,296 3,256 Marketing 984 925 2,834 2,877 Other expense 7,399 5,643 19,742 14,542 Total noninterest expense 56,346 51,557 164,532 149,168 Income before income taxes 12,749 27,281 61,511 79,605 Income taxes 1,384 6,525 11,380 17,513 Net income 11,365 20,756 50,131 62,092 Other comprehensive income (loss), net of taxes (34,231) (98,942) (23,011) (310,218) Comprehensive income (loss) $ (22,866) $ (78,186) $ 27,120 $ (248,126) Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 Interest and dividend income $ 85,636 $ 68,417 $ 246,856 $ 191,228 Noninterest income 15,338 12,994 45,355 41,624 Less: Gain on sale of real estate — — 495 1,002 *Revenues-Bank 100,974 81,411 291,716 231,850 Total interest expense 23,044 2,759 56,115 4,771 Provision for credit losses 8,835 (186) 10,053 (692) Noninterest expense 56,346 51,557 164,532 149,168 Less: Gain on sale of real estate — — 495 1,002 Less: Retirement defined benefits credit—other than service costs (190) (181) (564) (552) *Expenses-Bank 88,415 54,311 230,769 152,797 *Operating income-Bank 12,559 27,100 60,947 79,053 Add back: Retirement defined benefits credit—other than service costs (190) (181) (564) (552) Income before income taxes $ 12,749 $ 27,281 $ 61,511 $ 79,605 American Savings Bank, F.S.B. Balance Sheets Data (in thousands) September 30, 2023 December 31, 2022 Assets Cash and due from banks $ 139,059 $ 153,042 Interest-bearing deposits 124,531 3,107 Cash and cash equivalents 263,590 156,149 Investment securities Available-for-sale, at fair value 1,266,412 1,429,667 Held-to-maturity, at amortized cost (fair value of $1,052,221 and $1,150,971, respectively) 1,212,005 1,251,747 Stock in Federal Home Loan Bank, at cost 18,000 26,560 Loans held for investment 6,191,006 5,978,906 Allowance for credit losses (76,366) (72,216) Net loans 6,114,640 5,906,690 Loans held for sale, at lower of cost or fair value 2,171 824 Other 698,420 692,143 Goodwill 82,190 82,190 Total assets $ 9,657,428 $ 9,545,970 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,573,010 $ 2,811,077 Deposit liabilities—interest-bearing 5,651,341 5,358,619 Other borrowings 750,000 695,120 Other 224,136 212,269 Total liabilities 9,198,487 9,077,085 Common stock 1 1 Additional paid-in capital 357,742 355,806 Retained earnings 460,824 449,693 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (350,234) $ (328,904) Retirement benefit plans (9,392) (359,626) (7,711) (336,615) Total shareholder’s equity 458,941 468,885 Total liabilities and shareholder’s equity $ 9,657,428 $ 9,545,970 Other assets Bank-owned life insurance $ 186,143 $ 182,986 Premises and equipment, net 189,950 195,324 Accrued interest receivable 29,361 25,077 Mortgage-servicing rights 8,376 9,047 Low-income housing investments 103,580 106,978 Deferred tax asset 127,735 116,441 Real estate acquired in settlement of loans, net — 115 Other 53,275 56,175 $ 698,420 $ 692,143 Other liabilities Accrued expenses $ 102,540 $ 97,295 Federal and state income taxes payable 845 863 Cashier’s checks 38,483 36,401 Advance payments by borrowers 4,289 9,637 Other 77,979 68,073 $ 224,136 $ 212,269 Bank-owned life insurance is life insurance purchased by ASB on the lives of certain key employees, with ASB as the beneficiary. The insurance is used to fund employee benefits through tax-free income from increases in the cash value of the policies and insurance proceeds paid to ASB upon an insured’s death. Other borrowings consisted of FHLB advances and borrowings from the Federal Reserve Bank. Investment securities. The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair Amount Number of issues Fair Amount September 30, 2023 Available-for-sale U.S. Treasury and federal agency obligations $ 82,252 $ — $ (7,252) $ 75,000 — $ — $ — 14 $ 75,000 $ (7,252) Mortgage-backed securities* 1,427,186 — (282,019) 1,145,167 5 12,650 (3,432) 178 1,132,517 (278,587) Corporate bonds 35,273 — (3,522) 31,751 — — — 3 31,751 (3,522) Mortgage revenue bonds 14,494 — — 14,494 — — — — — — $ 1,559,205 $ — $ (292,793) $ 1,266,412 5 $ 12,650 $ (3,432) 195 $ 1,239,268 $ (289,361) Held-to-maturity U.S. Treasury and federal agency obligations $ 59,912 $ — $ (9,541) $ 50,371 — $ — $ — 3 $ 50,371 $ (9,541) Mortgage-backed securities* 1,152,093 — (150,243) 1,001,850 62 612,587 (42,892) 41 389,263 (107,351) $ 1,212,005 $ — $ (159,784) $ 1,052,221 62 $ 612,587 $ (42,892) 44 $ 439,634 $ (116,892) December 31, 2022 Available-for-sale U.S. Treasury and federal agency obligations $ 88,344 $ — $ (7,281) $ 81,063 12 $ 41,201 $ (2,120) 4 $ 39,862 $ (5,161) Mortgage-backed securities* 1,530,582 — (237,614) 1,292,968 113 455,836 (56,999) 70 837,132 (180,615) Corporate bonds 44,377 — (3,643) 40,734 4 29,644 (2,028) 1 11,090 (1,615) Mortgage revenue bonds 14,902 — — 14,902 — — — — — — $ 1,678,205 $ — $ (248,538) $ 1,429,667 129 $ 526,681 $ (61,147) 75 $ 888,084 $ (187,391) Held-to-maturity U.S. Treasury and federal agency obligations $ 59,894 $ — $ (8,478) $ 51,416 1 $ 16,874 $ (3,222) 2 $ 34,542 $ (5,256) Mortgage-backed securities* 1,191,853 2,670 (94,968) 1,099,555 22 183,629 (10,593) 51 567,250 (84,375) $ 1,251,747 $ 2,670 $ (103,446) $ 1,150,971 23 $ 200,503 $ (13,815) 53 $ 601,792 $ (89,631) * Issued or guaranteed by U.S. Government agencies or sponsored agencies ASB does not believe that the investment securities that were in an unrealized loss position at September 30, 2023 and December 31, 2022, represent a credit loss. Total gross unrealized losses were primarily attributable to change in market conditions. On a quarterly basis the investment securities are evaluated for changes in financial condition of the issuer. Based upon ASB’s evaluation, all securities held within the investment portfolio continue to be rated investment grade by one or more agencies. The contractual cash flows of the U.S. Treasury, federal agency obligations and agency mortgage-backed securities are backed by the full faith and credit guaranty of the United States government or an agency of the government. ASB does not intend to sell the securities before the recovery of its amortized cost basis and there have been no adverse changes in the timing of the contractual cash flows for the securities. ASB’s investment securities portfolio did not require an allowance for credit losses at September 30, 2023 and December 31, 2022. U.S. Treasury, federal agency obligations, corporate bonds, and mortgage revenue bonds have contractual terms to maturity. Mortgage-backed securities have contractual terms to maturity, but require periodic payments to reduce principal. In addition, expected maturities will differ from contractual maturities because borrowers have the right to prepay the underlying mortgages. The contractual maturities of investment securities were as follows: September 30, 2023 Amortized Fair value (in thousands) Available-for-sale Due in one year or less $ 1,811 $ 1,782 Due after one year through five years 115,714 104,970 Due after five years through ten years 14,494 14,494 Due after ten years — — 132,019 121,246 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,427,186 1,145,166 Total available-for-sale securities $ 1,559,205 $ 1,266,412 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years 39,824 34,133 Due after five years through ten years 20,088 16,238 Due after ten years — — 59,912 50,371 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,152,093 1,001,850 Total held-to-maturity securities $ 1,212,005 $ 1,052,221 There were no sales of available-for-sale securities for the three months and nine months ended September 30, 2023 and 2022. The components of loans were summarized as follows: September 30, 2023 December 31, 2022 (in thousands) Real estate: Residential 1-4 family $ 2,566,300 $ 2,479,637 Commercial real estate 1,400,570 1,358,123 Home equity line of credit 1,032,749 1,002,905 Residential land 20,245 20,679 Commercial construction 168,539 88,489 Residential construction 17,295 20,788 Total real estate 5,205,698 4,970,621 Commercial 732,458 779,691 Consumer 282,946 254,709 Total loans 6,221,102 6,005,021 Less: Deferred fees and discounts (30,096) (26,115) Allowance for credit losses (76,366) (72,216) Total loans, net $ 6,114,640 $ 5,906,690 ASB's policy is to require private mortgage insurance on all real estate loans when the loan-to-value ratio of the property exceeds 80% of the lower of the appraised value or purchase price at origination. For non-owner occupied residential property purchases, the loan-to-value ratio may not exceed 75% of the lower of the appraised value or purchase price at origination. Allowance for credit losses. The allowance for credit losses (balances and changes) by portfolio segment were as follows: (in thousands) Residential Commercial real Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Total Three months ended September 30, 2023 Allowance for credit losses: Beginning balance $ 4,708 $ 20,278 $ 7,139 $ 653 $ 2,549 $ 26 $ 11,358 $ 22,357 $ 69,068 Charge-offs — — — — — — (125) (2,667) (2,792) Recoveries 57 — 131 1 — — 725 841 1,755 Provision 1,702 2,180 505 (33) 1,075 16 (1,175) 4,065 8,335 Ending balance $ 6,467 $ 22,458 $ 7,775 $ 621 $ 3,624 $ 42 $ 10,783 $ 24,596 $ 76,366 Three months ended September 30, 2022 Allowance for credit losses: Beginning balance $ 8,520 $ 20,900 $ 6,096 $ 677 $ 2,634 $ 46 $ 12,413 $ 18,170 $ 69,456 Charge-offs — — — — — — (143) (1,503) (1,646) Recoveries 2 — 14 — — — 303 963 1,282 Provision (938) 136 (167) 12 (1,635) 3 378 3,525 1,314 Ending balance $ 7,584 $ 21,036 $ 5,943 $ 689 $ 999 $ 49 $ 12,951 $ 21,155 $ 70,406 Nine months ended September 30, 2023 Allowance for credit losses: Beginning balance $ 6,270 $ 21,898 $ 6,125 $ 717 $ 1,195 $ 46 $ 12,426 $ 23,539 $ 72,216 Charge-offs (990) — (360) — — — (509) (7,558) (9,417) Recoveries 63 — 165 4 — — 1,329 2,653 4,214 Provision 1,124 560 1,845 (100) 2,429 (4) (2,463) 5,962 9,353 Ending balance $ 6,467 $ 22,458 $ 7,775 $ 621 $ 3,624 $ 42 $ 10,783 $ 24,596 $ 76,366 Nine months ended September 30, 2022 Allowance for credit losses: Beginning balance $ 6,545 $ 24,696 $ 5,657 $ 646 $ 2,186 $ 18 $ 15,798 $ 15,584 $ 71,130 Charge-offs — — — — — — (367) (4,354) (4,721) Recoveries 13 — 56 101 — — 1,055 2,964 4,189 Provision 1,026 (3,660) 230 (58) (1,187) 31 (3,535) 6,961 (192) Ending balance $ 7,584 $ 21,036 $ 5,943 $ 689 $ 999 $ 49 $ 12,951 $ 21,155 $ 70,406 Allowance for loan commitments. The allowance for loan commitments by portfolio segment were as follows: (in thousands) Home equity Commercial construction Commercial loans Total Three months ended September 30, 2023 Allowance for loan commitments: Beginning balance $ 600 $ 3,800 $ 200 $ 4,600 Provision — 500 — 500 Ending balance $ 600 $ 4,300 $ 200 $ 5,100 Three months ended September 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 4,100 $ 1,400 $ 5,900 Provision — (1,500) — (1,500) Ending balance $ 400 $ 2,600 $ 1,400 $ 4,400 Nine months ended September 30, 2023 Allowance for loan commitments: Beginning balance $ 400 $ 2,600 $ 1,400 $ 4,400 Provision 200 1,700 (1,200) 700 Ending balance $ 600 $ 4,300 $ 200 $ 5,100 Nine months ended September 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,700 $ 800 $ 4,900 Provision — (1,100) 600 (500) Ending balance $ 400 $ 2,600 $ 1,400 $ 4,400 Credit quality . ASB performs an internal loan review and grading on an ongoing basis. The review provides management with periodic information as to the quality of the loan portfolio and effectiveness of its lending policies and procedures. The objectives of the loan review and grading procedures are to identify, in a timely manner, existing or emerging credit trends so that appropriate steps can be initiated to manage risk and avoid or minimize future losses. Loans subject to grading include commercial, commercial real estate and commercial construction loans. Each commercial and commercial real estate loan is assigned an Asset Quality Rating (AQR) reflecting the likelihood of repayment or orderly liquidation of that loan transaction pursuant to regulatory credit classifications: Pass, Special Mention, Substandard, Doubtful, and Loss. The AQR is a function of the probability of default model rating, the loss given default, and possible non-model factors which impact the ultimate collectability of the loan such as character of the business owner/guarantor, interim period performance, litigation, tax liens and major changes in business and economic conditions. Pass exposures generally are well protected by the current net worth and paying capacity of the obligor or by the value of the asset or underlying collateral. Special Mention loans have potential weaknesses that, if left uncorrected, could jeopardize the liquidation of the debt. Substandard loans have well-defined weaknesses that jeopardize the liquidation of the debt and are characterized by the distinct possibility that ASB may sustain some loss. An asset classified Doubtful has the weaknesses of those classified Substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. An asset classified Loss is considered uncollectible and has such little value that its continuance as a bankable asset is not warranted. The credit risk profile by vintage date based on payment activity or internally assigned grade for loans was as follows: Term Loans by Origination Year Revolving Loans (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Converted to term loans Total September 30, 2023 Residential 1-4 family Current $ 199,880 $ 414,053 $ 741,401 $ 405,552 $ 107,566 $ 692,167 $ — $ — $ 2,560,619 30-59 days past due — — — 267 — 2,654 — — 2,921 60-89 days past due — — — — — 973 — — 973 Greater than 89 days past due — — — — — 1,787 — — 1,787 199,880 414,053 741,401 405,819 107,566 697,581 — — 2,566,300 Current YTD period Gross charge-offs — — — — — 990 — — 990 Home equity line of credit Current — — — — — — 976,029 54,579 1,030,608 30-59 days past due — — — — — — 463 246 709 60-89 days past due — — — — — — 350 321 671 Greater than 89 days past due — — — — — — 495 266 761 — — — — — — 977,337 55,412 1,032,749 Current YTD period Gross charge-offs — — — — — — 77 283 360 Residential land Current 3,077 5,118 7,549 3,518 — 983 — — 20,245 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 3,077 5,118 7,549 3,518 — 983 — — 20,245 Current YTD period Gross charge-offs — — — — — — — — — Residential construction Current 2,780 11,019 3,496 — — — — — 17,295 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 2,780 11,019 3,496 — — — — — 17,295 Current YTD period Gross charge-offs — — — — — — — — — Consumer Current 82,282 164,693 12,203 2,394 1,010 222 10,345 3,413 276,562 30-59 days past due 822 1,882 122 43 49 1 46 156 3,121 60-89 days past due 362 933 108 35 52 — 32 81 1,603 Greater than 89 days past due 375 785 102 33 26 2 151 186 1,660 83,841 168,293 12,535 2,505 1,137 225 10,574 3,836 282,946 Current YTD period Gross charge-offs 850 4,637 840 163 363 39 279 387 7,558 Commercial real estate Pass 81,287 390,352 177,125 265,808 66,112 329,235 15,482 — 1,325,401 Special Mention — — 11,214 3,381 14,452 22,367 — — 51,414 Substandard 5,386 — 1,549 — 11,048 5,772 — — 23,755 Doubtful — — — — — — — — — 86,673 390,352 189,888 269,189 91,612 357,374 15,482 — 1,400,570 Term Loans by Origination Year Revolving Loans (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Converted to term loans Total Current YTD period Gross charge-offs — — — — — — — — — Commercial construction Pass 10,643 21,440 66,143 356 — — 69,957 — 168,539 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 10,643 21,440 66,143 356 — — 69,957 — 168,539 Current YTD period Gross charge-offs — — — — — — — — — Commercial Pass 82,145 209,364 124,453 75,753 46,291 81,409 81,627 9,560 710,602 Special Mention 1,945 — 970 — 272 — 7,151 — 10,338 Substandard — 3,054 2,040 230 763 3,409 1,506 516 11,518 Doubtful — — — — — — — — — 84,090 212,418 127,463 75,983 47,326 84,818 90,284 10,076 732,458 Current YTD period Gross charge-offs — — 51 — — — 177 281 509 Total loans $ 470,984 $ 1,222,693 $ 1,148,475 $ 757,370 $ 247,641 $ 1,140,981 $ 1,163,634 $ 69,324 $ 6,221,102 Term Loans by Origination Year Revolving Loans (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Converted to term loans Total December 31, 2022 Residential 1-4 family Current $ 432,707 $ 755,056 $ 423,455 $ 113,096 $ 51,860 $ 698,354 $ — $ — $ 2,474,528 30-59 days past due — — — — 448 1,098 — — 1,546 60-89 days past due — — 268 — — 90 — — 358 Greater than 89 days past due — — — — 809 2,396 — — 3,205 432,707 755,056 423,723 113,096 53,117 701,938 — — 2,479,637 Home equity line of credit Current — — — — — — 959,131 40,814 999,945 30-59 days past due — — — — — — 1,103 209 1,312 60-89 days past due — — — — — — 209 226 435 Greater than 89 days past due — — — — — — 587 626 1,213 — — — — — — 961,030 41,875 1,002,905 Residential land Current 5,245 9,010 5,222 203 522 477 — — 20,679 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 5,245 9,010 5,222 203 522 477 — — 20,679 Residential construction Current 7,986 11,624 1,178 — — — — — 20,788 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 7,986 11,624 1,178 — — — — — 20,788 Consumer Current 199,574 21,330 5,543 7,580 527 140 10,810 4,782 250,286 30-59 days past due 1,110 287 65 239 30 — 81 167 1,979 60-89 days past due 756 163 88 137 19 — 45 107 1,315 Greater than 89 days past due 621 105 37 176 28 — 20 142 1,129 202,061 21,885 5,733 8,132 604 140 10,956 5,198 254,709 Commercial real estate Pass 390,206 177,130 283,321 51,542 63,084 278,280 8,235 — 1,251,798 Special Mention — 11,250 3,446 40,423 — 24,466 — — 79,585 Substandard — — 665 11,357 — 14,718 — — 26,740 Doubtful — — — — — — — — — 390,206 188,380 287,432 103,322 63,084 317,464 8,235 — 1,358,123 Commercial construction Pass 15,094 47,478 44 — — — 25,873 — 88,489 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 15,094 47,478 44 — — — 25,873 — 88,489 Commercial Pass 239,852 185,013 85,220 68,161 46,142 53,192 60,871 13,964 752,415 Special Mention — — — 2,374 — 645 9,005 8 12,032 Substandard 3,322 2,305 401 1,304 1,346 3,849 1,664 1,053 15,244 Doubtful — — — — — — — — — 243,174 187,318 85,621 71,839 47,488 57,686 71,540 15,025 779,691 Total loans $ 1,296,473 $ 1,220,751 $ 808,953 $ 296,592 $ 164,815 $ 1,077,705 $ 1,077,634 $ 62,098 $ 6,005,021 Revolving loans converted to term loans during the nine months ended September 30, 2023 in the commercial, home equity line of credit and consumer portfolios were $6.1 million, $20.4 million and $1.1 million, respectively. Revolving loans converted to term loans during the nine months ended September 30, 2022 in the commercial, home equity line of credit and consumer portfolios were $1.6 million, $12.9 million and $2.7 million, respectively. The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 60-89 Total Current Total Amortized cost> September 30, 2023 Real estate: Residential 1-4 family $ 2,921 $ 973 $ 1,787 $ 5,681 $ 2,560,619 $ 2,566,300 $ — Commercial real estate — — — — 1,400,570 1,400,570 — Home equity line of credit 709 671 761 2,141 1,030,608 1,032,749 — Residential land — — — — 20,245 20,245 — Commercial construction — — — — 168,539 168,539 — Residential construction — — — — 17,295 17,295 — Commercial 575 100 77 752 731,706 732,458 — Consumer 3,121 1,603 1,660 6,384 276,562 282,946 — Total loans $ 7,326 $ 3,347 $ 4,285 $ 14,958 $ 6,206,144 $ 6,221,102 $ — December 31, 2022 Real estate: Residential 1-4 family $ 1,546 $ 358 $ 3,205 $ 5,109 $ 2,474,528 $ 2,479,637 $ — Commercial real estate 508 217 — 725 1,357,398 1,358,123 — Home equity line of credit 1,312 435 1,213 2,960 999,945 1,002,905 — Residential land — — — — 20,679 20,679 — Commercial construction — — — — 88,489 88,489 — Residential construction — — — — 20,788 20,788 — Commercial 614 18 77 709 778,982 779,691 — Consumer 1,979 1,315 1,129 4,423 250,286 254,709 — Total loans $ 5,959 $ 2,343 $ 5,624 $ 13,926 $ 5,991,095 $ 6,005,021 $ — The credit risk profile based on nonaccrual loans were as follows: (in thousands) September 30, 2023 December 31, 2022 With a Related ACL Without a Related ACL Total With a Related ACL Without a Related ACL Total Real estate: Residential 1-4 family $ 573 $ 2,500 $ 3,073 $ 4,198 $ 2,981 $ 7,179 Commercial real estate — — — — — — Home equity line of credit 2,764 1,017 3,781 3,654 1,442 5,096 Residential land 106 — 106 420 — 420 Commercial construction — — — — — — Residential construction — — — — — — Commercial 508 — 508 2,183 — 2,183 Consumer 2,414 — 2,414 1,588 — 1,588 Total $ 6,365 $ 3,517 $ 9,882 $ 12,043 $ 4,423 $ 16,466 ASB did not recognize interest on nonaccrual loans for the nine months ended September 30, 2023 and 2022. Modifications Made to Borrowers Experiencing Financial Difficulty. The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon origination. The starting point for the estimate of the allowance for credit losses is historical loan information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. ASB uses a probability of default/loss given default model to determine the allowance for credit losses. An assessment of whether a borrower is experiencing financial difficulty is made at the time of the modification. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses, a change to the allowance for credit losses is generally not recorded upon modification. Modifications may include interest rate reductions, interest only payments for an extended period of time, protracted terms such as amortization and maturity beyond the customary length of time found in the normal marketplace, and other actions intended to minimize economic loss and to provide alternatives to foreclosure or repossession of collateral. During the nine months ended September 30, 2023, no loans received a material modification based on borrower financial difficulty. Troubled debt restructurings. Prior to January 1, 2023, a loan modification was deemed to be a TDR when the borrower was determined to be experiencing financial difficulties and ASB granted a concession it would not otherwise consider. With the adoption of ASU No. 2022-02, accounting guidance for TDRs by creditors is eliminated. Loan refinancing and restructuring guidance is applied to determine whether a modification results in a new loan or a continuation of an existing loan. ASB will continue TDR disclosures for years prior to the adoption of ASU No. 2022-02. The credit risk profile based on loans whose terms have been modified and accruing interest were as follows: (in thousands) December 31, 2022 Real estate: Residential 1-4 family $ 8,821 Commercial real estate 9,477 Home equity line of credit 4,404 Residential land 782 Commercial construction — Residential construction — Commercial 6,596 Consumer 50 Total troubled debt restructured loans accruing interest $ 30,130 Loans modified as a TDR. Loan modifications that occurred during the three and nine months ended September 30, 2022. Three months ended September 30, 2022 Nine months ended September 30, 2022 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 2 $ 512 $ — 3 $ 893 $ 135 Commercial real estate — — — — — — Home equity line of credit — — — — — — Residential land 1 204 16 1 204 16 Commercial construction — — — — — — Residential construction — — — — — — Commercial — — — 1 288 20 Consumer — — — — — — 3 $ 716 $ 16 5 $ 1,385 $ 171 1 The period end balances reflect all paydowns and charge-offs since the modification period. TDRs fully paid off, charged-off, or foreclosed upon by period end are not included. There were no loans modified in TDRs that experienced a payment default of 90 days or more during the third quarter and first nine months of 2022. If a loan modified in a TDR subsequently defaults, ASB evaluates the loan for further impairment. Based on its evaluation, adjustments may be made in the allocation of the allowance or partial charge-offs may be taken to further write-down the carrying value of the loan. Commitments to lend additional funds to borrowers whose loan terms have been modified in a TDR totaled nil at December 31, 2022. Collateral-dependent loans. A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the operation or sale of the collateral. Loans considered collateral-dependent were as follows: Amortized cost (in thousands) September 30, 2023 December 31, 2022 Collateral type Real estate: Residential 1-4 family $ 2,584 $ 3,959 Residential real estate property Home equity line of credit 1,017 1,425 Residential real estate property Total $ 3,601 $ 5,384 ASB had $3.4 million and $4.2 million of consumer mortgage loans collateralized by residential real estate property that were in the process of foreclosure at September 30, 2023 and December 31, 2022, respectively. Mortgage servicing rights (MSRs) . In its mortgage banking business, ASB sells residential mortgage loans to government-sponsored entities and other parties, who may issue securities backed by pools of such loans. ASB retains no beneficial interests in these loans other than the servicing rights of certain loans sold. ASB received proceeds from the sale of residential mortgages of $21.5 million and $12.1 million for the three months ended September 30, 2023 and 2022, respectively, and recognized gains on such sales of $0.3 million and $0.2 million for the three months ended September 30, 2023 and 2022, respectively. ASB received proceeds from the sale of residential mortgages of $36.1 million and $126.4 million for the nine months ended September 30, 2023 and 2022, respectively, and recognized gains on such sales of $0.7 million and $1.6 million for the nine months ended September 30, 2023 and 2022, respectively. There were no repurchased mortgage loans for the three and nine months ended September 30, 2023 and one repurchased mortgage loan for the three and nine months ended September 30, 2022. Mortgage servicing fees, a component of other income, net, were $0.9 million and $1.0 million for the three months ended September 30, 2023 and 2022, respectively, and $2.7 million and $2.8 million for the nine months ended September 30, 2023 and 2022 respectively. Changes in the carrying value of MSRs were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net September 30, 2023 $ 18,125 $ (9,749) $ — $ 8,376 December 31, 2022 19,544 (10,497) — 9,047 Changes related to MSRs were as follows: Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 Mortgage servicing rights Beginning balance $ 8,495 $ 9,696 $ 9,047 $ 9,950 Amount capitalized 184 117 319 1,040 Amortization (303) (462) (990) (1,639) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 8,376 9,351 8,376 9,351 Valuation allowance for mortgage servicing rights Beginning balance — — — — Provision — — — — Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 8,376 $ 9,351 $ 8,376 $ 9,351 ASB capitalizes MSRs acquired upon the sale of mortgage loans with servicing rights retained. On a monthly basis, ASB compares the net carrying value of the MSRs to its fair value to determine if there are any changes to the valuation allowance and/or other-than-temporary impairment for the MSRs. ASB uses a present value cash flow model to estimate the fair value of MSRs. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servicing fees included in “Revenues - bank” in the condensed consolidated statements of income. A direct write-down is recorded when the recoverability of the valuation allowance is deemed to be unrecoverable. Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows: (dollars in thousands) September 30, 2023 December 31, 2022 Unpaid principal balance $ 1,412,412 $ 1,451,322 Weighted average note rate 3.44 % 3.38 % Weighted average discount rate 10.00 % 10.00 % Weighted average prepayment speed 5.58 % 6.56 % The sensitivity analysis of fair value of MSRs to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions was as follows: (dollars in thousands) September 30, 2023 December 31, 2022 Prepayment rate: 25 basis points adverse rate change $ (90) $ (92) 50 basis points adverse rate change (207) (214) Discount rate: 25 basis points adverse rate change (206) (182) 50 basis points adverse rate change (407) (361) The effect of a variation in certain assumptions on fair value is calculated without changing any other assumptions. This analysis typically cannot be extrapolated because the relationship of a change in one key assumption to the changes in the fair value of MSRs typically is not linear. Other borrowings. As of September 30, 2023 and December 31, 2022, ASB had $200.0 million and $414.0 million of FHLB advances outstanding, respectively, and borrowings with the Federal Reserve Bank of $550.0 million and nil, respectively. As of September 30, 2023, ASB was in compliance with all FHLB Advances, Pledge and Security Agreement requirements and all requirements to borrow at the Federal Reserve Discount Window Primary Credit Facility under 12 CFR 201.4(a) guidelines. Securities sold under agreements to repurchase are accounted for as financing transactions and the obligations to repurchase these securities are recorded as liabilities in the condensed consolidated balance sheets. ASB pledges investment securities as collateral f

Credit agreement and changes in

Credit agreement and changes in debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Credit agreement and changes in debt	Credit agreements and changes in debt On May 14, 2021, HEI and Hawaiian Electric each entered into a separate agreement with a syndicate of nine financial institutions (the HEI Facility and Hawaiian Electric Facility, respectively, and together, the Credit Facilities) to amend and restate their respective previously existing revolving unsecured credit agreements. The $175 million HEI Facility’s initial termination date was May 14, 2026. The $200 million Hawaiian Electric Facility’s initial termination date was May 13, 2022, but on February 18, 2022, the PUC approved Hawaiian Electric’s request to extend the term of the $200 million Hawaiian Electric Facility to May 14, 2026. In addition to extending the term, Hawaiian Electric also received PUC approval to exercise its options of two one-year extensions of the commitment termination date and to increase its aggregate revolving commitment amount from $200 million to $275 million, should there be a need. On April 21, 2023, HEI and Hawaiian Electric executed Amendment No. 1 to the Credit Facilities (Amendment). The Amendment was executed to reflect the transition from the London Inter-Bank Offered Rate (LIBOR) to the Term Secured Overnight Financing Rate (SOFR) as the benchmark interest rate for non-Alternate Base Rate (ABR) Loans under the Credit Facilities. On May 14, 2023, HEI and Hawaiian Electric exercised their first of two, one-year extensions to the commitment termination date with eight of the nine financial institutions to extend the Credit Facilities to May 14, 2027. The committed capacities under the HEI Facility and Hawaiian Electric Facility are $175 million and $200 million, respectively, through May 14, 2026, and step down to approximately $157 million and $180 million, respectively, through May 14, 2027. After multiple downgrades of the Companies’ credit ratings to ratings below investment grade, by Fitch, Moody’s and S&P due to the Maui windstorm and wildfires, on August 15, 2023, HEI made an initial $2.5 million draw on its $175 million existing revolving credit facility to repay maturing commercial paper. By August 23, 2023, HEI drew its remaining and Hawaiian Electric drew its full committed capacity on their respective existing revolving credit facilities, totaling $175 million and $200 million, respectively. The draws were made to provide access to liquidity and support the Company’s restoration efforts on Maui. The cash proceeds were primarily invested in highly liquid short-term investments, were used to repay $100 million of Hawaiian Electric’s long-term debt that matured on November 1, 2023, and used for general corporate purposes. Changes in debt. As of September 30, 2023, the Company and Hawaiian Electric were in compliance with all applicable financial covenants. HEI private placement . On March 16, 2023, HEI entered into a note purchase agreement (HEI NPA) under which HEI has authorized the issue and sale of $100 million of unsecured senior notes that were drawn on May 30, 2023. The proceeds of the notes were used to repay the $100 million term loan facility on May 31, 2023. The terms of the notes are as follows: HEI Series 2023A HEI Series 2023B Aggregate principal amount $39 million $61 million Fixed coupon interest rate 6.04% 6.10% Maturity date 6/15/2028 6/15/2033 Interest on the notes is paid semiannually on June 15th and December 15th. The HEI NPA contains certain restrictive financial covenants that are substantially the same as the financial covenants contained in HEI’s revolving unsecured credit facility, as amended. The HEI notes may be prepaid in whole or in part at any time at the prepayment price of the principal amount, together with interest accrued to the date of prepayment plus a “Make-Whole Amount,” as defined in the agreements. HEI term loan . On October 20, 2022, HEI entered into a term loan facility in the aggregate principal amount of $100 million. On December 28, 2022, HEI drew $35 million on the term loan, and on March 31, 2023, HEI drew the remaining $65 million at an initial interest rate of 5.81% for an initial one month interest period. On May 31, 2023, HEI fully repaid the term loan facility at which time it was terminated. Borrowings under the facility bore interest at Term Secured Overnight Financing Rate (SOFR), as defined in the agreement, plus an applicable margin and a SOFR spread adjustment. The term loan facility contained certain restrictive financial covenants that were substantially the same as the financial covenants contained in the HEI Facility. Utilities private placement . On January 10, 2023, the Utilities executed through a private placement pursuant to separate Note Purchase Agreements (the NPAs), the following unsecured senior notes bearing taxable interest (2023 Notes). The 2023 Notes had a delayed draw feature and the Utilities drew down all the proceeds on February 9, 2023. Series 2023A Series 2023B Series 2023C Aggregate principal amount $90 million $40 million $20 million Fixed coupon interest rate Hawaiian Electric 6.11% 6.25% 6.70% Hawaii Electric Light 6.25% — — Maui Electric 6.25% — — Maturity date Hawaiian Electric 2/9/2030 2/9/2033 2/9/2053 Hawaii Electric Light 2/9/2033 — — Maui Electric 2/9/2033 — — Principal amount by company Hawaiian Electric $40 million $40 million $20 million Hawaii Electric Light $25 million — — Maui Electric $25 million — — The 2023 Notes include substantially the same financial covenants and customary conditions as Hawaiian Electric’s credit agreement. Hawaiian Electric is also a party as guarantor under the NPAs entered into by Hawaii Electric Light and Maui Electric. The Utilities did not obtain any of the proceeds at execution and instead drew down all the proceeds on February 9, 2023. The proceeds were used to finance their respective capital expenditures, repay short-term debt used to finance or refinance capital expenditures and/or reimburse funds used for the payment of capital expenditures. The 2023 Notes may be prepaid in whole or in part at any time at the prepayment price of the principal amount plus a “Make-Whole Amount” as defined in the NPAs.

Shareholders' equity

Shareholders' equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Shareholders' equity	Shareholders' equity Accumulated other comprehensive income/(loss) . Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized gains (losses) on derivatives Retirement benefit plans AOCI AOCI-Retirement benefit plans Balance, December 31, 2022 $ (328,904) $ 1,991 $ (9,115) $ (336,028) $ 2,861 Current period other comprehensive income (loss) (21,330) (827) 161 (21,996) (166) Balance, September 30, 2023 $ (350,234) $ 1,164 $ (8,954) $ (358,024) $ 2,695 Balance, December 31, 2021 $ (32,037) $ (3,638) $ (16,858) $ (52,533) $ (3,280) Current period other comprehensive income (loss) (308,229) 6,561 657 (301,011) 210 Balance, September 30, 2022 $ (340,266) $ 2,923 $ (16,201) $ (353,544) $ (3,070) Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 HEI consolidated Net unrealized gains (losses) on available-for sale investment securities - amortization of unrealized holding losses on held-to-maturity securities $ 3,699 $ — $ 11,065 $ — Bank revenues Net realized losses (gains) on derivatives qualifying as cash flow hedges (47) 53 (143) 161 Interest expense Retirement benefit plans: Amortization of prior service credit and net losses (gains) recognized during the period in net periodic benefit cost (446) 5,606 (1,160) 10,229 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 470 (5,303) 1,321 (9,572) See Note 9 for additional details Total reclassifications $ 3,676 $ 356 $ 11,083 $ 818 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses (gains) recognized during the period in net periodic benefit cost $ (547) $ 5,411 $ (1,487) $ 9,782 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 470 (5,303) 1,321 (9,572) See Note 9 for additional details Total reclassifications $ (77) $ 108 $ (166) $ 210

Revenues

Revenues	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue from contracts with customers. The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Three months ended September 30, 2023 Nine months ended September 30, 2023 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 257,790 $ — $ — $ 257,790 $ 753,207 $ — $ — $ 753,207 Electric energy sales - commercial 257,876 — — 257,876 762,454 — — 762,454 Electric energy sales - large light and power 284,607 — — 284,607 855,396 — — 855,396 Electric energy sales - other 4,688 — — 4,688 14,628 — — 14,628 Bank fees — 12,067 — 12,067 — 36,370 — 36,370 Other sales — — 5,016 5,016 — — 13,361 13,361 Total revenues from contracts with customers 804,961 12,067 5,016 822,044 2,385,685 36,370 13,361 2,435,416 Revenues from other sources Regulatory revenue (20,927) — — (20,927) 3,716 — — 3,716 Bank interest and dividend income — 85,636 — 85,636 — 246,856 — 246,856 Other bank noninterest income — 3,271 — 3,271 — 8,490 — 8,490 Other 10,953 — 896 11,849 30,138 — 1,179 31,317 Total revenues from other sources (9,974) 88,907 896 79,829 33,854 255,346 1,179 290,379 Total revenues $ 794,987 $ 100,974 $ 5,912 $ 901,873 $ 2,419,539 $ 291,716 $ 14,540 $ 2,725,795 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 12,067 $ — $ 12,067 $ — $ 36,370 $ — $ 36,370 Services/goods transferred over time 804,961 — 5,016 809,977 2,385,685 — 13,361 2,399,046 Total revenues from contracts with customers $ 804,961 $ 12,067 $ 5,016 $ 822,044 $ 2,385,685 $ 36,370 $ 13,361 $ 2,435,416 Three months ended September 30, 2022 Nine months ended September 30, 2022 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 306,417 $ — $ — $ 306,417 $ 790,424 $ — $ — $ 790,424 Electric energy sales - commercial 309,940 — — 309,940 794,238 — — 794,238 Electric energy sales - large light and power 351,763 — — 351,763 886,733 — — 886,733 Electric energy sales - other 5,400 — — 5,400 11,699 — — 11,699 Bank fees — 12,058 — 12,058 — 36,851 — 36,851 Other sales — — 4,760 4,760 — — 7,208 7,208 Total revenues from contracts with customers 973,520 12,058 4,760 990,338 2,483,094 36,851 7,208 2,527,153 Revenues from other sources Regulatory revenue (26,301) — — (26,301) (24,843) — — (24,843) Bank interest and dividend income — 68,417 — 68,417 — 191,228 — 191,228 Other bank noninterest income — 936 — 936 — 3,771 — 3,771 Other 8,752 — 55 8,807 25,385 — 178 25,563 Total revenues from other sources (17,549) 69,353 55 51,859 542 194,999 178 195,719 Total revenues $ 955,971 $ 81,411 $ 4,815 $ 1,042,197 $ 2,483,636 $ 231,850 $ 7,386 $ 2,722,872 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 12,058 $ — $ 12,058 $ — $ 36,851 $ — $ 36,851 Services/goods transferred over time 973,520 — 4,760 978,280 2,483,094 — 7,208 2,490,302 Total revenues from contracts with customers $ 973,520 $ 12,058 $ 4,760 $ 990,338 $ 2,483,094 $ 36,851 $ 7,208 $ 2,527,153 There are no material contract assets or liabilities associated with revenues from contracts with customers existing at December 31, 2022 or as of September 30, 2023. Accounts receivable and unbilled revenues related to contracts with customers represent an unconditional right to consideration since all performance obligations have been satisfied. These amounts are disclosed as accounts receivable and unbilled revenues, net on HEI’s condensed consolidated balance sheets and customer accounts receivable, net and accrued unbilled revenues, net on Hawaiian Electric’s condensed consolidated balance sheets. As of September 30, 2023, the Company had no material remaining performance obligations due to the nature of the Company’s contracts with its customers. For the Utilities, performance obligations are fulfilled as electricity is delivered to customers. For ASB, fees are recognized when a transaction is completed.

Retirement benefits

Retirement benefits	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Retirement benefits	Retirement benefits Defined benefit pension and other postretirement benefit plans information. For the first nine months of 2023, the Company contributed $6 million ($6 million by the Utilities) to its pension and other postretirement benefit plans, compared to $32 million ($31 million by the Utilities) in the first nine months of 2022. The Company’s current estimate of total contributions to its pension and other postretirement benefit plans in 2023 is $8 million ($8 million by the Utilities), compared to $43 million ($42 million by the Utilities) in 2022. In addition, the Company expects to pay directly $3 million ($1 million by the Utilities) of benefits in 2023, compared to $2 million ($1 million by the Utilities) paid in 2022. The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended September 30 Nine months ended September 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2023 2022 2023 2022 2023 2022 2023 2022 HEI consolidated Service cost $ 11,418 $ 18,831 $ 385 $ 624 $ 34,210 $ 58,478 $ 1,072 $ 1,937 Interest cost 26,022 20,274 2,075 1,593 77,265 59,895 6,389 4,868 Expected return on plan assets (35,238) (35,163) (3,426) (3,394) (105,630) (105,827) (10,236) (10,189) Amortization of net prior period gain — — (218) (232) — — (656) (696) Amortization of net actuarial (gain)/losses 138 7,782 (518) (3) 515 20,376 (1,416) (9) Net periodic pension/benefit cost (return) 2,340 11,724 (1,702) (1,412) 6,360 32,922 (4,847) (4,089) Impact of PUC D&Os 17,663 8,758 1,536 1,289 53,929 27,861 4,385 3,725 Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os) $ 20,003 $ 20,482 $ (166) $ (123) $ 60,289 $ 60,783 $ (462) $ (364) Hawaiian Electric consolidated Service cost $ 11,071 $ 18,248 $ 380 $ 617 $ 33,108 $ 56,883 $ 1,060 $ 1,915 Interest cost 24,116 18,850 1,981 1,525 71,513 55,773 6,107 4,670 Expected return on plan assets (33,029) (33,314) (3,374) (3,343) (98,972) (100,405) (10,081) (10,035) Amortization of net prior period gain — — (218) (232) — — (654) (694) Amortization of net actuarial (gain)/losses (16) 7,519 (503) — 21 19,769 (1,370) — Net periodic pension/benefit cost (return) 2,142 11,303 (1,734) (1,433) 5,670 32,020 (4,938) (4,144) Impact of PUC D&Os 17,663 8,758 1,536 1,289 53,929 27,861 4,385 3,725 Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os) $ 19,805 $ 20,061 $ (198) $ (144) $ 59,599 $ 59,881 $ (553) $ (419) HEI consolidated recorded retirement benefits expense of $33 million ($32 million by the Utilities) in the first nine months of 2023 and $35 million ($34 million by the Utilities) in the first nine months of 2022 and charged the remaining net periodic benefit cost primarily to electric utility plant. The Utilities have implemented pension and OPEB tracking mechanisms under which all of their retirement benefit expenses (except for executive life and nonqualified pension plan expenses) determined in accordance with GAAP are recovered over time. Under the tracking mechanisms, any actual costs determined in accordance with GAAP that are over/under amounts allowed in rates are charged/credited to a regulatory asset/liability. The regulatory asset/liability for each utility will then be amortized over five years beginning with the respective utility’s next rate case. Defined contribution plans information. For the first nine months of 2023 and 2022, the Company’s expenses for its defined contribution plans under the Hawaiian Electric Industries Retirement Savings Plan (HEIRSP) and the ASB 401(k) Plan were $7.0 million and $6.5 million, respectively, and cash contributions were $7.6 million and $5.4 million, respectively. For the first

Share-based compensation

Share-based compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based compensation	Share-based compensation Under the 2010 Equity and Incentive Plan, as amended and restated effective March 1, 2014 (EIP), HEI can issue shares of common stock as incentive compensation to selected employees in the form of stock options, stock appreciation rights, restricted shares, restricted stock units, performance shares and other share-based and cash-based awards. The original 2010 Equity and Incentive Plan was amended and restated effective March 1, 2014 and an additional 1.5 million shares were added to the shares available for issuance under these programs. As of September 30, 2023, approximately 2.7 million shares remained available for future issuance under the terms of the EIP, assuming recycling of shares withheld to satisfy statutory tax liabilities relating to EIP awards, including an estimated 0.7 million shares that could be issued upon the vesting of outstanding restricted stock units and the achievement of performance goals for awards outstanding under long-term incentive plans (assuming that such performance goals are achieved at maximum levels). Under the 2011 Nonemployee Director Stock Plan (2011 Director Plan), HEI can issue shares of common stock as compensation to nonemployee directors of HEI, Hawaiian Electric and ASB. As of September 30, 2023, there were 168,177 shares remaining available for future issuance under the 2011 Director Plan. Share-based compensation expense and the related income tax benefit were as follows: Three months ended September 30 Nine months ended September 30 (in millions) 2023 2022 2023 2022 HEI consolidated Share-based compensation expense 1 $ 2.4 $ 1.7 $ 8.3 $ 7.3 Income tax benefit 0.5 0.4 1.6 1.5 Hawaiian Electric consolidated Share-based compensation expense 1 0.7 0.6 2.5 2.1 Income tax benefit 0.1 0.1 0.5 0.5 1 For the three and nine months ended September 30, 2023 and 2022, the Company has not capitalized any share-based compensation. Stock awards. HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows: Three months ended September 30 Nine months ended September 30 (dollars in millions) 2023 2022 2023 2022 Shares granted — 965 40,450 35,720 Fair value $ — $ — $ 1.5 $ 1.5 Income tax benefit — — 0.4 0.4 The number of shares issued to each nonemployee director of HEI, Hawaiian Electric and ASB is determined based on the closing price of HEI common stock on the grant date. Restricted stock units. Information about HEI’s grants of restricted stock units was as follows: Three months ended September 30 Nine months ended September 30 2023 2022 2023 2022 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 199,130 $ 41.22 208,953 $ 39.71 182,528 $ 39.75 233,448 $ 38.10 Granted — — — — 100,088 42.41 98,463 41.31 Vested — — (4,244) 39.49 (81,112) 39.37 (95,658) 37.73 Forfeited — — (16,540) 39.99 (2,374) 41.79 (48,084) 39.19 Outstanding, end of period 199,130 $ 41.22 188,169 $ 39.69 199,130 $ 41.22 188,169 $ 39.69 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ 4.2 $ 4.1 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For the nine months ended September 30, 2023 and 2022, total restricted stock units and related dividends that vested had a fair value of $3.7 million and $4.2 million, respectively, and the related tax benefits were $0.8 million and $0.6 million, respectively. As of September 30, 2023, there was $5.2 million of total unrecognized compensation cost related to the nonvested restricted stock units. The cost is expected to be recognized over a weighted-average period of 1.9 years. Long-term incentive plan payable in stock. The 2021-23, 2022-24 and 2023-25 long-term incentive plans (LTIP) provide for performance awards under the EIP of shares of HEI common stock based on the satisfaction of performance goals, including a market condition goal. The number of shares of HEI common stock that may be awarded is fixed on the date the grants are made, subject to the achievement of specified performance levels and calculated dividend equivalents. The potential payout varies from 0% to 200% of the number of target shares, depending on the achievement of the goals. The market condition goal is based on HEI’s total shareholder return (TSR) compared to the Peer Group (Edison Electric Institute Index (EEI Index) for the 2021-23 and 2022-24 performance periods, and compared to the Company's compensation peer group consisting of companies in the EEI Index and approved by the Company's Compensation and Human Capital Management Committee for the 2023-25 performance period), in each case over the relevant three-year period. The other performance condition goals relate to EPS growth, cumulative EPS, return on average common equity (ROACE), renewable portfolio standards, carbon emissions reduction, Hawaiian Electric’s net income growth, ASB’s efficiency ratio and strategic initiatives and Pacific Current’s EBITDA growth and return on average invested capital. LTIP linked to TSR . Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended September 30 Nine months ended September 30 2023 2022 2023 2022 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 79,284 $ 50.28 76,730 $ 47.74 71,574 $ 47.67 90,974 $ 42.86 Granted — — — — 27,123 55.98 26,469 54.92 Vested (issued or unissued and cancelled) — — — — (18,691) 48.62 (29,042) 41.07 Forfeited — — (4,829) 48.52 (722) 48.92 (16,500) 44.33 Outstanding, end of period 79,284 $ 50.28 71,901 $ 47.69 79,284 $ 50.28 71,901 $ 47.69 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ 1.5 $ 1.5 (1) Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model. The grant date fair values of the shares were determined using a Monte Carlo simulation model utilizing actual information for the common shares of HEI and the Peer Group for the period from the beginning of the performance period to the grant date and estimated future stock volatility of HEI and the Peer Group over the remaining three-year performance period. The expected stock volatility assumptions for HEI and the Peer Group were based on the three-year historic stock volatility. A dividend assumption is not required for the Monte Carlo simulation because the grant payout includes dividend equivalents and projected returns include the value of reinvested dividends. The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted: 2023 2022 Risk-free interest rate 4.19 % 1.71 % Expected life in years 3 3 Expected volatility 33.1 % 31.0 % Range of expected volatility for Peer Group 28.7% to 38.8% 25.4% to 76.7% Grant date fair value (per share) $55.98 $54.92 There were no share-based LTIP awards linked to TSR with a vesting date in 2023. For the nine months ended September 30, 2022, total vested LTIP awards linked to TSR and related dividends had a fair value of $0.8 million and the related tax benefits were $0.1 million. As of September 30, 2023, there was $1.6 million of total unrecognized compensation cost related to the nonvested performance awards payable in shares linked to TSR. The cost is expected to be recognized over a weighted-average period of 1.2 years. LTIP awards linked to other performance conditions . Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows: Three months ended September 30 Nine months ended September 30 2023 2022 2023 2022 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 357,477 $ 38.78 293,711 $ 39.91 309,589 $ 39.50 306,342 $ 38.42 Granted — — — — 108,499 42.41 105,860 41.31 Vested — — — — (62,778) 48.07 (71,807) 37.68 Increase above target 4,277 38.02 — — 10,278 37.77 — — Forfeited — — (19,316) 38.60 (3,834) 43.53 (66,000) 37.31 Outstanding, end of period 361,754 $ 39.17 274,395 $ 40.00 361,754 $ 39.17 274,395 $ 40.00 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ — $ — $ 4.6 $ 4.4 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For the nine months ended September 30, 2023 and 2022, total vested LTIP awards linked to other performance conditions and related dividends had a fair value of $2.9 million and $3.2 million, respectively, and the related tax benefits were $0.6 million and $0.4 million, respectively. As of September 30, 2023, there was $5.4 million of total unrecognized compensation cost related to the nonvested shares linked to performance conditions other than TSR. The cost is expected to be recognized over a weighted-average period of 1.2 years.

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company’s and the Utilities’ effective tax rates (combined federal and state income tax rates) for the nine months ended September 30, 2023 were 20% and 22%, respectively. These rates differed from the combined statutory rates, due primarily to higher nontaxable bank-owned life insurance, partially offset by the Utilities’ lower amortization of excess deferred income taxes related to the provision in the 2017 Tax Cuts and Jobs Act that lowered the federal income tax rate from 35% to 21%. In August 2020, the Internal Revenue Service notified the Company that its 2017 and 2018 income tax returns would be examined. The Company was previously audited every year through 2011, at which time the IRS changed their internal policies regarding audit frequency. The audit is still in progress. The Company has not been notified of any material audit adjustments to date. The Inflation Reduction Act of 2022 (IRA) was signed by President Biden on August 16, 2022. Key provisions under the IRA include a 15% corporate alternative minimum tax (CAMT) imposed on certain large corporations and a 1% excise tax on stock repurchases after December 31, 2022. Based on current interpretation of the law and current guidance available we do not believe HEI will be impacted by the CAMT or stock repurchase excise tax provisions. The IRA also creates new tax credits and enhances others to stimulate investment in renewable energy sources. Certain provisions of the IRA became effective beginning tax year 2023. The Company continues to monitor guidance and assess related tax planning opportunities.

Cash flows

Cash flows	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Cash flows	Cash flows Nine months ended September 30 2023 2022 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 104 $ 59 Income taxes paid (including refundable credits) 28 26 Income taxes refunded (including refundable credits) 1 2 Hawaiian Electric consolidated Interest paid to non-affiliates 45 40 Income taxes paid (including refundable credits) 38 46 Income taxes refunded (including refundable credits) 2 — Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 9 6 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 45 34 Increase related to an acquisition (investing) — 15 Right-of-use assets obtained in exchange for finance lease obligations (financing) 76 48 Right-of-use assets obtained in exchange for operating lease obligations (investing) 1 48 Property, plant, equipment and other assets received in exchange for the assumption of debt associated with a business acquisition (investing) — 68 Debt, lease liabilities and other liabilities assumed in business acquisition (financing) — 68 Common stock issued (gross) for director and executive/management compensation (financing) 1 8 10 Obligations to fund low income housing investments (investing) 7 9 Loans transferred from held for investment to held for sale (investing) 95 — Transfer of retail repurchase agreements to deposit liabilities (financing) 98 — Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 9 6 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 43 31 Increase related to an acquisition (investing) — 15 Right-of-use assets obtained in exchange for finance lease obligations (financing) 76 48 Right-of-use assets obtained in exchange for operating lease obligations (investing) — 44 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements

Fair value measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements Fair value measurement and disclosure valuation methodology. The following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value: Short-term borrowings—other than bank . The carrying amount of short-term borrowings approximated fair value because of the short maturity of these instruments. Investment securities . The fair value of ASB’s investment securities is determined quarterly through pricing obtained from independent third-party pricing services or from brokers not affiliated with the trade. Non-binding broker quotes are infrequent and generally occur for new securities that are settled close to the month-end pricing date. The third-party pricing vendors ASB uses for pricing its securities are reputable firms that provide pricing services on a global basis and have processes in place to ensure quality and control. The third-party pricing services use a variety of methods to determine the fair value of securities that fall under Level 2 of ASB’s fair value measurement hierarchy. Among the considerations are quoted prices for similar securities in an active market, yield spreads for similar trades, adjustments for liquidity, size, collateral characteristics, historic and generic prepayment speeds, and other observable market factors. To enhance the robustness of the pricing process, ASB will on a quarterly basis compare its standard third-party vendor’s price with that of another third-party vendor. If the prices are within an acceptable tolerance range, the price of the standard vendor will be accepted. If the variance is beyond the tolerance range, an evaluation will be conducted by ASB and a challenge to the price may be made. Fair value in such cases will be based on the value that best reflects the data and observable characteristics of the security. In all cases, the fair value used will have been independently determined by a third-party pricing vendor or non-affiliated broker. The fair value of the mortgage revenue bonds is estimated using a discounted cash flow model to calculate the present value of future principal and interest payments and, therefore is classified within Level 3 of the valuation hierarchy. Loans held for sale . Residential and commercial loans are carried at the lower of cost or market and are valued using market observable pricing inputs, which are derived from third party loan sales and, therefore, are classified within Level 2 of the valuation hierarchy. Loans held for investment . Fair value of loans held for investment is derived using a discounted cash flow approach which includes an evaluation of the underlying loan characteristics. The valuation model uses loan characteristics which includes product type, maturity dates and the underlying interest rate of the portfolio. This information is input into the valuation models along with various forecast valuation assumptions including prepayment forecasts, to determine the discount rate. These assumptions are derived from internal and third party sources. Since the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Collateral dependent loans . Collateral dependent loans have been adjusted to fair value. When a loan is identified as collateral dependent, the Company measures the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases, the value of the collateral may be estimated as having little or no value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. If it is determined that the value of the collateral dependent loan is less than its recorded investment, the Company recognizes this impairment and adjusts the carrying value of the loan to fair value through the allowance for credit losses. Real estate acquired in settlement of loans . Foreclosed assets are initially measured at fair value (less estimated costs to sell) and subsequently measured at the lower of the carrying value or fair value less selling costs. Fair values are generally based upon appraisals or independent market prices that are periodically updated subsequent to classification as real estate owned. Such adjustments typically result in a Level 3 classification of the inputs for determining fair value. ASB estimates the fair value of collateral-dependent loans and real estate owned using the sales comparison approach. Mortgage servicing rights . MSRs are capitalized at fair value based on market data at the time of sale and accounted for in subsequent periods at the lower of amortized cost or fair value. MSRs are evaluated for impairment at each reporting date. ASB's MSRs are stratified based on predominant risk characteristics of the underlying loans including loan type and note rate. For each stratum, fair value is calculated by discounting expected net income streams using discount rates that reflect industry pricing for similar assets. Expected net income streams are estimated based on industry assumptions regarding prepayment expectations and income and expenses associated with servicing residential mortgage loans for others. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servicing fees included in “Revenues - bank” in the consolidated statements of income. A direct write-down is recorded when the recoverability of the valuation allowance is deemed to be unrecoverable. ASB compares the fair value of MSRs to an estimated value calculated by an independent third-party. The third-party relies on both published and unpublished sources of market related assumptions and its own experience and expertise to arrive at a value. ASB uses the third-party value only to assess the reasonableness of its own estimate. ASB includes MSRs within Level 3 of the valuation hierarchy. Time deposits . The fair value of fixed-maturity certificates of deposit was estimated by discounting the future cash flows using the rates currently offered for FHLB advances of similar remaining maturities. Deposit liabilities are classified in Level 2 of the valuation hierarchy. Other borrowings . For advances and repurchase agreements, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of fixed-rate long-term debt—other than bank was obtained from third-party financial services providers based on the current rates offered for debt of the same or similar remaining maturities and from discounting the future cash flows using the current rates offered for debt of the same or similar risks, terms, and remaining maturities. The carrying amount of floating rate long-term debt—other than bank approximated fair value because of the short-term interest reset periods. Long-term debt—other than bank is classified in Level 2 of the valuation hierarchy. Interest rate lock commitments (IRLCs) . The estimated fair value of commitments to originate residential mortgage loans for sale is based on quoted prices for similar loans in active markets. IRLCs are classified as Level 2 measurements. Forward sales commitments . To be announced (TBA) mortgage-backed securities forward commitments are classified as Level 1, and consist of publicly-traded debt securities for which identical fair values can be obtained through quoted market prices in active exchange markets. The fair values of ASB’s best efforts and mandatory delivery loan sale commitments are determined using quoted prices in the marketplace that are observable and are classified as Level 2 measurements. Interest rate swaps . The Company measures its interest rate swaps at fair value. The fair values of the Company's interest rate swaps are based on the estimated amounts that the Company would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The fair values of the Company's interest rate swaps are classified as a Level 2 measurements. The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total September 30, 2023 Financial assets HEI consolidated Available-for-sale investment securities $ 1,266,412 $ — $ 1,251,918 $ 14,494 $ 1,266,412 Held-to-maturity investment securities 1,212,005 — 1,052,221 — 1,052,221 Loans, net 6,116,811 — 2,174 5,541,812 5,543,986 Mortgage servicing rights 8,376 — — 18,867 18,867 Derivative assets 19,044 15 1,350 — 1,365 Financial liabilities HEI consolidated Deposit liabilities 1,050,692 — 1,035,501 — 1,035,501 Other bank borrowings 750,000 — 743,366 — 743,366 Long-term debt, net—other than bank 2,944,589 — 2,120,573 — 2,120,573 Derivative liabilities 22,949 — 1,344 — 1,344 Hawaiian Electric consolidated Long-term debt, net 2,034,040 — 1,400,901 — 1,400,901 December 31, 2022 Financial assets HEI consolidated Available-for-sale investment securities $ 1,429,667 $ — $ 1,414,765 $ 14,902 $ 1,429,667 Held-to-maturity investment securities 1,251,747 — 1,150,971 — 1,150,971 Loans, net 5,907,514 — 821 5,453,381 5,454,202 Mortgage servicing rights 9,047 — — 17,646 17,646 Derivative assets 16,220 18 1,330 — 1,348 Financial liabilities HEI consolidated Deposit liabilities 611,718 — 597,617 — 597,617 Short-term borrowings—other than bank 172,568 — 172,568 — 172,568 Other bank borrowings 695,120 — 695,095 — 695,095 Long-term debt, net—other than bank 2,384,980 — 2,122,605 — 2,122,605 Derivative liabilities 22,949 — 472 — 472 Hawaiian Electric consolidated Short-term borrowings 87,967 — 87,967 — 87,967 Long-term debt, net 1,684,816 — 1,487,496 — 1,487,496 Fair value measurements on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were as follows: September 30, 2023 December 31, 2022 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Available-for-sale investment securities (bank segment) Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies $ — $ 1,145,167 $ — $ — $ 1,292,968 $ — U.S. Treasury and federal agency obligations — 75,000 — — 81,063 — Corporate bonds — 31,751 — — 40,734 — Mortgage revenue bonds — — 14,494 — — 14,902 $ — $ 1,251,918 $ 14,494 $ — $ 1,414,765 $ 14,902 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 54 $ — $ — $ 9 $ — Forward commitments (bank segment) 1 15 — — 18 — — Interest rate swap (Other segment) 2 — 1,296 — — 1,321 — $ 15 $ 1,350 $ — $ 18 $ 1,330 $ — Derivative liabilities Interest rate swap (Other segment) 2 $ — $ 1,344 $ — $ — $ 472 $ — 1 Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income. 2 Derivatives are included in other assets and other liabilities in the balance sheets. There were no transfers of financial assets and liabilities between Level 1 and Level 2 of the fair value hierarchy during the nine months ended September 30, 2023 and 2022. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended September 30 Nine months ended September 30 Mortgage revenue bonds 2023 2022 2023 2022 (in thousands) Beginning balance $ 14,630 $ 15,165 $ 14,902 $ 15,427 Principal payments received (136) (132) (408) (394) Purchases — — — — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 14,494 $ 15,033 $ 14,494 $ 15,033 Mortgage revenue bonds are issued by the Department of Budget and Finance of the State of Hawaii. The Company estimates the fair value by using a discounted cash flow model to calculate the present value of estimated future principal and interest payments. The unobservable input used in the fair value measurement is the weighted average discount rate. As of September 30, 2023, the weighted average discount rate was 5.65%, which was derived by incorporating a credit spread over the one month London Inter-Bank Offered Rate (LIBOR). Significant increases (decreases) in the weighted average discount rate could result in a significantly lower (higher) fair value measurement. Fair value measurements on a nonrecurring basis. Certain assets and liabilities are measured at fair value on a nonrecurring basis and therefore are not included in the tables above. These measurements primarily result from assets carried at the lower of cost or fair value or from impairment of individual assets. As of September 30, 2023 and December 31, 2022, there were no financial instruments measured at fair value on a nonrecurring basis.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 41,589	$ 62,553	$ 151,866	$ 185,207

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of presentation (Policies

Basis of presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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.
Recent accounting pronouncements	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 updated the accounting for certain loan refinancings and restructurings, and included the required disclosures in the Notes herein in accordance with ASU No. 2022-02.
Fair value measurements	The following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value: Short-term borrowings—other than bank . The carrying amount of short-term borrowings approximated fair value because of the short maturity of these instruments. Investment securities . The fair value of ASB’s investment securities is determined quarterly through pricing obtained from independent third-party pricing services or from brokers not affiliated with the trade. Non-binding broker quotes are infrequent and generally occur for new securities that are settled close to the month-end pricing date. The third-party pricing vendors ASB uses for pricing its securities are reputable firms that provide pricing services on a global basis and have processes in place to ensure quality and control. The third-party pricing services use a variety of methods to determine the fair value of securities that fall under Level 2 of ASB’s fair value measurement hierarchy. Among the considerations are quoted prices for similar securities in an active market, yield spreads for similar trades, adjustments for liquidity, size, collateral characteristics, historic and generic prepayment speeds, and other observable market factors. To enhance the robustness of the pricing process, ASB will on a quarterly basis compare its standard third-party vendor’s price with that of another third-party vendor. If the prices are within an acceptable tolerance range, the price of the standard vendor will be accepted. If the variance is beyond the tolerance range, an evaluation will be conducted by ASB and a challenge to the price may be made. Fair value in such cases will be based on the value that best reflects the data and observable characteristics of the security. In all cases, the fair value used will have been independently determined by a third-party pricing vendor or non-affiliated broker. The fair value of the mortgage revenue bonds is estimated using a discounted cash flow model to calculate the present value of future principal and interest payments and, therefore is classified within Level 3 of the valuation hierarchy. Loans held for sale . Residential and commercial loans are carried at the lower of cost or market and are valued using market observable pricing inputs, which are derived from third party loan sales and, therefore, are classified within Level 2 of the valuation hierarchy. Loans held for investment . Fair value of loans held for investment is derived using a discounted cash flow approach which includes an evaluation of the underlying loan characteristics. The valuation model uses loan characteristics which includes product type, maturity dates and the underlying interest rate of the portfolio. This information is input into the valuation models along with various forecast valuation assumptions including prepayment forecasts, to determine the discount rate. These assumptions are derived from internal and third party sources. Since the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Collateral dependent loans . Collateral dependent loans have been adjusted to fair value. When a loan is identified as collateral dependent, the Company measures the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases, the value of the collateral may be estimated as having little or no value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. If it is determined that the value of the collateral dependent loan is less than its recorded investment, the Company recognizes this impairment and adjusts the carrying value of the loan to fair value through the allowance for credit losses. Real estate acquired in settlement of loans . Foreclosed assets are initially measured at fair value (less estimated costs to sell) and subsequently measured at the lower of the carrying value or fair value less selling costs. Fair values are generally based upon appraisals or independent market prices that are periodically updated subsequent to classification as real estate owned. Such adjustments typically result in a Level 3 classification of the inputs for determining fair value. ASB estimates the fair value of collateral-dependent loans and real estate owned using the sales comparison approach. Mortgage servicing rights . MSRs are capitalized at fair value based on market data at the time of sale and accounted for in subsequent periods at the lower of amortized cost or fair value. MSRs are evaluated for impairment at each reporting date. ASB's MSRs are stratified based on predominant risk characteristics of the underlying loans including loan type and note rate. For each stratum, fair value is calculated by discounting expected net income streams using discount rates that reflect industry pricing for similar assets. Expected net income streams are estimated based on industry assumptions regarding prepayment expectations and income and expenses associated with servicing residential mortgage loans for others. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servicing fees included in “Revenues - bank” in the consolidated statements of income. A direct write-down is recorded when the recoverability of the valuation allowance is deemed to be unrecoverable. ASB compares the fair value of MSRs to an estimated value calculated by an independent third-party. The third-party relies on both published and unpublished sources of market related assumptions and its own experience and expertise to arrive at a value. ASB uses the third-party value only to assess the reasonableness of its own estimate. ASB includes MSRs within Level 3 of the valuation hierarchy. Time deposits . The fair value of fixed-maturity certificates of deposit was estimated by discounting the future cash flows using the rates currently offered for FHLB advances of similar remaining maturities. Deposit liabilities are classified in Level 2 of the valuation hierarchy. Other borrowings . For advances and repurchase agreements, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of fixed-rate long-term debt—other than bank was obtained from third-party financial services providers based on the current rates offered for debt of the same or similar remaining maturities and from discounting the future cash flows using the current rates offered for debt of the same or similar risks, terms, and remaining maturities. The carrying amount of floating rate long-term debt—other than bank approximated fair value because of the short-term interest reset periods. Long-term debt—other than bank is classified in Level 2 of the valuation hierarchy. Interest rate lock commitments (IRLCs) . The estimated fair value of commitments to originate residential mortgage loans for sale is based on quoted prices for similar loans in active markets. IRLCs are classified as Level 2 measurements. Forward sales commitments . To be announced (TBA) mortgage-backed securities forward commitments are classified as Level 1, and consist of publicly-traded debt securities for which identical fair values can be obtained through quoted market prices in active exchange markets. The fair values of ASB’s best efforts and mandatory delivery loan sale commitments are determined using quoted prices in the marketplace that are observable and are classified as Level 2 measurements. Interest rate swaps . The Company measures its interest rate swaps at fair value. The fair values of the Company's interest rate swaps are based on the estimated amounts that the Company would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The fair values of the Company's interest rate swaps are classified as a Level 2 measurements.

Maui windstorm and wildfires (T

Maui windstorm and wildfires (Tables)	9 Months Ended
	Sep. 30, 2023
Unusual or Infrequent Items, or Both [Abstract]
Schedule of Pending Contribution Expense, Offset by Probably Insurance Recovery	The Utilities charged the pending contribution to expense, included in “Expenses-Other operation and maintenance” and “Expenses-Electric utility” in the Hawaiian Electric and subsidiaries Condensed Consolidated Statements of Income and HEI and subsidiaries’ Condensed Consolidated Statements of Income, respectively, which was offset by the probable insurance recovery. (in millions) September 30, 2023 2023 Maui windstorm and wildfires One ‘Ohana Initiative contribution 1 $ 75 Insurance recovery 2 (75) 1 As of September 30, 2023, One ‘Ohana Initiative contribution is included in “Current liabilities-Other” and “Liabilities-Other” in the Hawaiian Electric and subsidiaries’ Condensed Consolidated Balance Sheet and HEI and subsidiaries’ Condensed Consolidated Balance Sheet, respectively. 2 As of September 30, 2023, One ‘Ohana Initiative insurance recoveries is included in “Current assets-Other accounts receivables, net” and “Assets-Accounts receivable and unbilled revenues, net” in the Hawaiian Electric and subsidiaries’ Condensed Consolidated Balance Sheet and HEI and subsidiaries’ Condensed Consolidated Balance Sheet, respectively.

Segment financial information (

Segment financial information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Financial Information	(in thousands) Electric utility Bank Other Total Three months ended September 30, 2023 Revenues $ 794,987 $ 100,974 $ 5,912 $ 901,873 Income (loss) before income taxes $ 55,415 $ 12,749 $ (19,054) $ 49,110 Income taxes (benefit) 11,456 1,384 (5,319) 7,521 Net income (loss) 43,959 11,365 (13,735) 41,589 Preferred stock dividends of subsidiaries 498 — (27) 471 Net income (loss) for common stock $ 43,461 $ 11,365 $ (13,708) $ 41,118 Nine months ended September 30, 2023 Revenues $ 2,419,539 $ 291,716 $ 14,540 $ 2,725,795 Income (loss) before income taxes $ 175,391 $ 61,511 $ (48,121) $ 188,781 Income taxes (benefit) 38,126 11,380 (12,591) 36,915 Net income (loss) 137,265 50,131 (35,530) 151,866 Preferred stock dividends of subsidiaries 1,496 — (79) 1,417 Net income (loss) for common stock $ 135,769 $ 50,131 $ (35,451) $ 150,449 Total assets (at September 30, 2023) $ 7,078,447 $ 9,657,428 $ 255,943 $ 16,991,818 Three months ended September 30, 2022 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 and other sources $ 2,483,632 $ 231,850 $ 7,390 $ 2,722,872 Intersegment revenues (eliminations) 4 — (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 December 31, 2022) $ 6,597,467 $ 9,545,970 $ 140,807 $ 16,284,244

Electric utility segment (Table

Electric utility segment (Tables)	9 Months Ended
	Sep. 30, 2023
Electric Utility Subsidiary [Abstract]
Schedule of Purchases From All IPPs	Purchases from all IPPs were as follows: Three months ended September 30 Nine months ended September 30 (in millions) 2023 2022 2023 2022 Kalaeloa $ 77 $ 101 $ 211 $ 244 AES Hawaii 1 — 21 — 82 HPOWER 17 18 51 56 Hamakua Energy 13 16 52 46 Puna Geothermal Venture 7 13 24 37 Wind IPPs 42 37 99 93 Solar IPPs 21 18 57 44 Other IPPs 2 1 1 5 5 Total IPPs $ 178 $ 225 $ 499 $ 607 1 The term of the PPA with AES Hawaii expired on September 1, 2022 and the AES Hawaii coal plant ceased operations. 2 Includes hydro power and other PPAs.
Schedule of Net Annual Incremental Amounts Proposed to be Collected (Refunded)	The filing reflected ARA revenues for 2023 to be collected from January 1 through December 31, 2024, as follows: (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total 2024 ARA revenues $ 16.6 $ 4.1 $ 4.0 $ 24.7 Management Audit savings commitment (4.6) (1.0) (1.0) (6.6) Enterprise Resource Planning system benefits savings — (1.3) (1.9) (3.2) COVID-19 related cost recovery 2.6 0.2 0.6 3.4 Net 2024 ARA revenues $ 14.6 $ 2.0 $ 1.7 $ 18.3 Note: Columns may not foot due to rounding. The proposed net incremental amounts between the 2023 spring and fall revenue reports are shown in the following table. The amounts are to be collected (refunded) from January 1 through December 31, 2024 under the RBA rate tariffs, which were proposed in the 2023 fall revenue report filing and are subject to PUC approval. (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total Incremental RAM revenues and ARA revenues $ 19.2 $ 3.0 $ 2.7 $ 24.9 Annual change in accrued RBA balance through September 30, 2023 (and associated revenue taxes) 3.6 (0.3) 0.1 3.4 Incremental Performance Incentive Mechanisms (net) 0.1 — — 0.1 Net incremental amount to be collected under the RBA rate tariffs $ 22.9 $ 2.7 $ 2.8 $ 28.4 Note: Columns may not foot due to rounding.
Schedule of Condensed Consolidating Statements of Income	Condensed Consolidating Statement of Income Three months ended September 30, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 570,323 116,192 108,472 — — $ 794,987 Expenses Fuel oil 196,223 30,956 40,259 — — 267,438 Purchased power 132,536 30,265 14,994 — — 177,795 Other operation and maintenance 83,528 21,351 37,629 — — 142,508 Depreciation 41,276 10,635 9,254 — — 61,165 Taxes, other than income taxes 53,511 10,857 10,355 — — 74,723 Total expenses 507,074 104,064 112,491 — — 723,629 Operating income (loss) 63,249 12,128 (4,019) — — 71,358 Allowance for equity funds used during construction 3,005 366 629 — — 4,000 Equity in earnings of subsidiaries 3,005 — — — (3,005) — Retirement defined benefits credit (expense)—other than service costs 992 163 (23) — — 1,132 Interest expense and other charges, net (16,295) (2,988) (3,164) — — (22,447) Allowance for borrowed funds used during construction 1,047 117 208 — — 1,372 Income (loss) before income taxes 55,003 9,786 (6,369) — (3,005) 55,415 Income taxes 11,272 2,234 (2,050) — — 11,456 Net income (loss) 43,731 7,552 (4,319) — (3,005) 43,959 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income (loss) attributable to Hawaiian Electric 43,731 7,419 (4,414) — (3,005) 43,731 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income (loss) for common stock $ 43,461 7,419 (4,414) — (3,005) $ 43,461 Condensed Consolidating Statement of Income Three months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 693,281 130,858 131,910 — (78) $ 955,971 Expenses Fuel oil 280,447 40,540 62,615 — — 383,602 Purchased power 171,470 37,263 16,476 — — 225,209 Other operation and maintenance 77,115 21,882 22,113 — — 121,110 Depreciation 39,474 10,350 8,887 — — 58,711 Taxes, other than income taxes 64,051 12,026 12,213 — — 88,290 Total expenses 632,557 122,061 122,304 — — 876,922 Operating income 60,724 8,797 9,606 — (78) 79,049 Allowance for equity funds used during construction 2,063 206 283 — — 2,552 Equity in earnings of subsidiaries 10,577 — — — (10,577) — Retirement defined benefits credit (expense)—other than service costs 760 166 (31) — — 895 Interest expense and other charges, net (14,221) (2,716) (2,750) — 78 (19,609) Allowance for borrowed funds used during construction 674 63 88 — — 825 Income before income taxes 60,577 6,516 7,196 — (10,577) 63,712 Income taxes 10,543 1,424 1,483 — — 13,450 Net income 50,034 5,092 5,713 — (10,577) 50,262 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income attributable to Hawaiian Electric 50,034 4,959 5,618 — (10,577) 50,034 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 49,764 4,959 5,618 — (10,577) $ 49,764 Condensed Consolidating Statement of Income Nine months ended September 30, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Revenues $ 1,742,542 343,554 333,573 — (130) $ 2,419,539 Expenses Fuel oil 663,521 79,187 138,984 — — 881,692 Purchased power 362,275 101,597 35,118 — — 498,990 Other operation and maintenance 255,728 64,367 87,089 — — 407,184 Depreciation 123,114 31,906 27,761 — — 182,781 Taxes, other than income taxes 164,510 31,983 31,541 — — 228,034 Total expenses 1,569,148 309,040 320,493 — — 2,198,681 Operating income 173,394 34,514 13,080 — (130) 220,858 Allowance for equity funds used during construction 8,604 1,004 1,465 — — 11,073 Equity in earnings of subsidiaries 25,960 — — — (25,960) — Retirement defined benefits credit (expense)—other than service costs 2,801 500 (74) — — 3,227 Interest expense and other charges, net (45,594) (8,794) (9,307) — 130 (63,565) Allowance for borrowed funds used during construction 2,995 321 482 — — 3,798 Income before income taxes 168,160 27,545 5,646 — (25,960) 175,391 Income taxes 31,581 6,261 284 — — 38,126 Net income 136,579 21,284 5,362 — (25,960) 137,265 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 136,579 20,884 5,076 — (25,960) 136,579 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 135,769 20,884 5,076 — (25,960) $ 135,769 Condensed Consolidating Statement of Income Nine months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Revenues $ 1,769,995 363,888 349,866 — (113) $ 2,483,636 Expenses Fuel oil 619,169 98,856 156,518 — — 874,543 Purchased power 460,855 106,710 39,262 — — 606,827 Other operation and maintenance 243,478 63,427 64,354 — — 371,259 Depreciation 118,459 31,053 26,409 — — 175,921 Taxes, other than income taxes 165,350 33,436 32,502 — — 231,288 Total expenses 1,607,311 333,482 319,045 — — 2,259,838 Operating income 162,684 30,406 30,821 — (113) 223,798 Allowance for equity funds used during construction 5,999 616 816 — — 7,431 Equity in earnings of subsidiaries 36,475 — — — (36,475) — Retirement defined benefits credit (expense)—other than service costs 2,471 500 (95) — — 2,876 Interest expense and other charges, net (40,833) (7,967) (8,048) — 113 (56,735) Allowance for borrowed funds used during construction 1,962 190 249 — — 2,401 Income before income taxes 168,758 23,745 23,743 — (36,475) 179,771 Income taxes 27,640 5,351 4,976 — — 37,967 Net income 141,118 18,394 18,767 — (36,475) 141,804 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 141,118 17,994 18,481 — (36,475) 141,118 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 140,308 17,994 18,481 — (36,475) $ 140,308 Statements of Income and Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 Interest and dividend income Interest and fees on loans $ 71,540 $ 53,365 $ 204,348 $ 147,499 Interest and dividends on investment securities 14,096 15,052 42,508 43,729 Total interest and dividend income 85,636 68,417 246,856 191,228 Interest expense Interest on deposit liabilities 14,446 1,704 30,944 3,572 Interest on other borrowings 8,598 1,055 25,171 1,199 Total interest expense 23,044 2,759 56,115 4,771 Net interest income 62,592 65,658 190,741 186,457 Provision for credit losses 8,835 (186) 10,053 (692) Net interest income after provision for credit losses 53,757 65,844 180,688 187,149 Noninterest income Fees from other financial services 4,703 4,763 14,391 15,066 Fee income on deposit liabilities 4,924 4,879 14,027 14,122 Fee income on other financial products 2,440 2,416 7,952 7,663 Bank-owned life insurance 2,303 122 5,683 661 Mortgage banking income 341 181 701 1,630 Gain on sale of real estate — — 495 1,002 Other income, net 627 633 2,106 1,480 Total noninterest income 15,338 12,994 45,355 41,624 Noninterest expense Compensation and employee benefits 29,902 28,597 89,500 83,478 Occupancy 5,154 5,577 16,281 16,996 Data processing 5,133 4,509 15,240 13,144 Services 3,627 2,751 8,911 7,712 Equipment 3,125 2,432 8,728 7,163 Office supplies, printing and postage 1,022 1,123 3,296 3,256 Marketing 984 925 2,834 2,877 Other expense 7,399 5,643 19,742 14,542 Total noninterest expense 56,346 51,557 164,532 149,168 Income before income taxes 12,749 27,281 61,511 79,605 Income taxes 1,384 6,525 11,380 17,513 Net income 11,365 20,756 50,131 62,092 Other comprehensive income (loss), net of taxes (34,231) (98,942) (23,011) (310,218) Comprehensive income (loss) $ (22,866) $ (78,186) $ 27,120 $ (248,126) Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 Interest and dividend income $ 85,636 $ 68,417 $ 246,856 $ 191,228 Noninterest income 15,338 12,994 45,355 41,624 Less: Gain on sale of real estate — — 495 1,002 *Revenues-Bank 100,974 81,411 291,716 231,850 Total interest expense 23,044 2,759 56,115 4,771 Provision for credit losses 8,835 (186) 10,053 (692) Noninterest expense 56,346 51,557 164,532 149,168 Less: Gain on sale of real estate — — 495 1,002 Less: Retirement defined benefits credit—other than service costs (190) (181) (564) (552) *Expenses-Bank 88,415 54,311 230,769 152,797 *Operating income-Bank 12,559 27,100 60,947 79,053 Add back: Retirement defined benefits credit—other than service costs (190) (181) (564) (552) Income before income taxes $ 12,749 $ 27,281 $ 61,511 $ 79,605
Schedule of Condensed Consolidating Statement of Comprehensive Income	Condensed Consolidating Statement of Comprehensive Income Three months ended September 30, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income (loss) for common stock $ 43,461 7,419 (4,414) — (3,005) $ 43,461 Other comprehensive loss, net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes (547) (55) (71) — 126 (547) Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes 470 54 63 — (117) 470 Other comprehensive loss, net of taxes (77) (1) (8) — 9 (77) Comprehensive income (loss) attributable to common shareholder $ 43,384 7,418 (4,422) — (2,996) $ 43,384 Condensed Consolidating Statement of Comprehensive Income Three months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income for common stock $ 49,764 4,959 5,618 — (10,577) $ 49,764 Other comprehensive income (loss), 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 5,411 768 732 — (1,500) 5,411 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (5,303) (766) (733) — 1,499 (5,303) Other comprehensive income (loss), net of taxes 108 2 (1) — (1) 108 Comprehensive income attributable to common shareholder $ 49,872 4,961 5,617 — (10,578) $ 49,872 Condensed Consolidating Statement of Comprehensive Income Nine months ended September 30, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Consolidated Net income for common stock $ 135,769 20,884 5,076 — (25,960) $ 135,769 Other comprehensive loss, net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes (1,487) (166) (200) — 366 (1,487) Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes 1,321 157 177 — (334) 1,321 Other comprehensive loss, net of taxes (166) (9) (23) — 32 (166) Comprehensive income attributable to common shareholder $ 135,603 20,875 5,053 — (25,928) $ 135,603 Condensed Consolidating Statement of Comprehensive Income Nine months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Consolidated Net income for common stock $ 140,308 17,994 18,481 — (36,475) $ 140,308 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 9,782 1,366 1,938 (3,304) 9,782 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (9,572) (1,362) (1,938) 3,300 (9,572) Other comprehensive income, net of taxes 210 4 — — (4) 210 Comprehensive income attributable to common shareholder $ 140,518 17,998 18,481 — (36,479) $ 140,518
Schedule of Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet September 30, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,859 5,645 3,594 — — $ 52,098 Plant and equipment 5,422,393 1,448,183 1,329,252 — — 8,199,828 Right-of-use assets - finance lease 88,297 36,075 — — — 124,372 Less accumulated depreciation (1,953,609) (663,303) (605,118) — — (3,222,030) Construction in progress 258,204 35,281 63,804 — — 357,289 Utility property, plant and equipment, net 3,858,144 861,881 791,532 — — 5,511,557 Nonutility property, plant and equipment, less accumulated depreciation 5,295 115 1,532 — — 6,942 Total property, plant and equipment, net 3,863,439 861,996 793,064 — — 5,518,499 Investment in wholly owned subsidiaries, at equity 703,311 — — — (703,311) — Current assets Cash and cash equivalents 233,518 32,716 8,543 77 — 274,854 Restricted cash 2,000 — — — — 2,000 Customer accounts receivable, net 172,730 34,550 34,482 — — 241,762 Accrued unbilled revenues, net 132,552 22,062 24,713 — — 179,327 Other accounts receivable, net 115,498 7,124 11,778 — (44,577) 89,823 Fuel oil stock, at average cost 112,468 14,400 25,900 — — 152,768 Materials and supplies, at average cost 58,834 13,077 27,615 — — 99,526 Prepayments and other 41,304 5,468 7,766 — — 54,538 Regulatory assets 49,489 5,110 3,322 — — 57,921 Total current assets 918,393 134,507 144,119 77 (44,577) 1,152,519 Other long-term assets Operating lease right-of-use assets 36,627 29,193 10,241 — — 76,061 Regulatory assets 146,735 14,583 11,958 — — 173,276 Other 112,601 33,011 29,468 — (16,988) 158,092 Total other long-term assets 295,963 76,787 51,667 — (16,988) 407,429 Total assets $ 5,781,106 1,073,290 988,850 77 (764,876) $ 7,078,447 Capitalization and liabilities Capitalization Common stock equity $ 2,383,023 352,170 351,064 77 (703,311) $ 2,383,023 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,426,353 249,308 258,383 — — 1,934,044 Total capitalization 3,831,669 608,478 614,447 77 (703,311) 4,351,360 Current liabilities Current portion of operating lease liabilities 7,308 6,942 2,762 — — 17,012 Current portion of long-term debt 49,998 19,999 29,999 — — 99,996 Accounts payable 141,738 25,436 34,525 — — 201,699 Interest and preferred dividends payable 21,304 3,924 4,830 — — 30,058 Taxes accrued, including revenue taxes 196,037 40,706 37,529 — — 274,272 Regulatory liabilities 9,999 6,842 9,484 — — 26,325 Other 148,400 23,182 36,302 — (44,577) 163,307 Total current liabilities 574,784 127,031 155,431 — (44,577) 812,669 Deferred credits and other liabilities Operating lease liabilities 35,967 22,575 7,757 — — 66,299 Finance lease liabilities 82,935 35,205 — — — 118,140 Deferred income taxes 274,577 50,405 60,693 — — 385,675 Regulatory liabilities 770,268 197,045 108,136 — — 1,075,449 Unamortized tax credits 65,153 12,410 12,184 — — 89,747 Defined benefit pension liability 65,872 — — — (16,988) 48,884 Other 79,881 20,141 30,202 — — 130,224 Total deferred credits and other liabilities 1,374,653 337,781 218,972 — (16,988) 1,914,418 Total capitalization and liabilities $ 5,781,106 1,073,290 988,850 77 (764,876) $ 7,078,447 Condensed Consolidating Balance Sheet December 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,860 5,606 3,594 — — $ 52,060 Plant and equipment 5,260,685 1,425,442 1,293,383 — — 7,979,510 Finance lease right-of-use assets 48,371 — — — — 48,371 Less accumulated depreciation (1,855,150) (644,457) (586,892) — — (3,086,499) Construction in progress 215,560 23,989 35,804 — — 275,353 Utility property, plant and equipment, net 3,712,326 810,580 745,889 — — 5,268,795 Nonutility property, plant and equipment, less accumulated depreciation 5,298 115 1,532 — — 6,945 Total property, plant and equipment, net 3,717,624 810,695 747,421 — — 5,275,740 Investment in wholly owned subsidiaries, at equity 701,833 — — — (701,833) — Current assets Cash and cash equivalents 27,579 5,092 6,494 77 — 39,242 Advances to affiliates — 4,500 21,700 — (26,200) — Customer accounts receivable, net 216,802 39,339 32,197 — — 288,338 Accrued unbilled revenues, net 136,508 23,839 22,933 — — 183,280 Other accounts receivable, net 23,746 5,519 6,686 — (22,384) 13,567 Fuel oil stock, at average cost 153,342 16,964 21,224 — — 191,530 Materials and supplies, at average cost 48,130 9,783 21,655 — — 79,568 Prepayments and other 24,040 6,346 4,137 — (1,041) 33,482 Regulatory assets 46,504 2,435 3,334 — — 52,273 Total current assets 676,651 113,817 140,360 77 (49,625) 881,280 Other long-term assets Operating lease right-of-use assets 42,752 34,283 12,283 — — 89,318 Regulatory assets 154,040 21,816 14,384 — — 190,240 Other 115,028 32,654 29,495 — (16,288) 160,889 Total other long-term assets 311,820 88,753 56,162 — (16,288) 440,447 Total assets $ 5,407,928 1,013,265 943,943 77 (767,746) $ 6,597,467 Capitalization and liabilities Capitalization Common stock equity $ 2,344,170 344,720 357,036 77 (701,833) $ 2,344,170 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,126,915 224,439 233,500 — — 1,584,854 Total capitalization 3,493,378 576,159 595,536 77 (701,833) 3,963,317 Current liabilities Current portion of operating lease liabilities 9,775 6,690 2,630 — — 19,095 Current portion of long-term debt 49,981 19,992 29,989 — — 99,962 Short-term borrowings-non-affiliate 87,967 — — — — 87,967 Short-term borrowings-affiliate 26,200 — — — (26,200) — Accounts payable 143,253 32,113 27,126 — — 202,492 Interest and preferred dividends payable 12,398 2,576 2,282 — (80) 17,176 Taxes accrued, including revenue taxes 207,798 42,436 40,709 — (1,041) 289,902 Regulatory liabilities 13,145 8,553 9,777 — — 31,475 Other 64,659 20,856 22,385 — (22,304) 85,596 Total current liabilities 615,176 133,216 134,898 — (49,625) 833,665 Deferred credits and other liabilities Operating lease liabilities 41,049 27,817 9,849 — — 78,715 Finance lease liabilities 46,048 — — — — 46,048 Deferred income taxes 271,234 50,615 62,581 — — 384,430 Regulatory liabilities 729,683 194,222 100,270 — — 1,024,175 Unamortized tax credits 69,614 13,150 12,536 — — 95,300 Defined benefit pension and other postretirement benefit plans liability 65,907 129 — — (16,288) 49,748 Other 75,839 17,957 28,273 — — 122,069 Total deferred credits and other liabilities 1,299,374 303,890 213,509 — (16,288) 1,800,485 Total capitalization and liabilities $ 5,407,928 1,013,265 943,943 77 (767,746) $ 6,597,467 Balance Sheets Data (in thousands) September 30, 2023 December 31, 2022 Assets Cash and due from banks $ 139,059 $ 153,042 Interest-bearing deposits 124,531 3,107 Cash and cash equivalents 263,590 156,149 Investment securities Available-for-sale, at fair value 1,266,412 1,429,667 Held-to-maturity, at amortized cost (fair value of $1,052,221 and $1,150,971, respectively) 1,212,005 1,251,747 Stock in Federal Home Loan Bank, at cost 18,000 26,560 Loans held for investment 6,191,006 5,978,906 Allowance for credit losses (76,366) (72,216) Net loans 6,114,640 5,906,690 Loans held for sale, at lower of cost or fair value 2,171 824 Other 698,420 692,143 Goodwill 82,190 82,190 Total assets $ 9,657,428 $ 9,545,970 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,573,010 $ 2,811,077 Deposit liabilities—interest-bearing 5,651,341 5,358,619 Other borrowings 750,000 695,120 Other 224,136 212,269 Total liabilities 9,198,487 9,077,085 Common stock 1 1 Additional paid-in capital 357,742 355,806 Retained earnings 460,824 449,693 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (350,234) $ (328,904) Retirement benefit plans (9,392) (359,626) (7,711) (336,615) Total shareholder’s equity 458,941 468,885 Total liabilities and shareholder’s equity $ 9,657,428 $ 9,545,970 Other assets Bank-owned life insurance $ 186,143 $ 182,986 Premises and equipment, net 189,950 195,324 Accrued interest receivable 29,361 25,077 Mortgage-servicing rights 8,376 9,047 Low-income housing investments 103,580 106,978 Deferred tax asset 127,735 116,441 Real estate acquired in settlement of loans, net — 115 Other 53,275 56,175 $ 698,420 $ 692,143 Other liabilities Accrued expenses $ 102,540 $ 97,295 Federal and state income taxes payable 845 863 Cashier’s checks 38,483 36,401 Advance payments by borrowers 4,289 9,637 Other 77,979 68,073 $ 224,136 $ 212,269
Schedule of Condensed Consolidating Statement of Changes in Common Stock Equity	Condensed Consolidating Statement of Changes in Common Stock Equity Nine months ended September 30, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2022 $ 2,344,170 344,720 357,036 77 (701,833) $ 2,344,170 Net income for common stock 135,769 20,884 5,076 — (25,960) 135,769 Other comprehensive loss, net of taxes (166) (9) (23) — 32 (166) Common stock dividends (96,750) (13,425) (11,025) — 24,450 (96,750) Balance, September 30, 2023 $ 2,383,023 352,170 351,064 77 (703,311) $ 2,383,023 Condensed Consolidating Statement of Changes in Common Stock Equity Nine months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2021 $ 2,261,899 332,900 343,260 77 (676,237) $ 2,261,899 Net income for common stock 140,308 17,994 18,481 — (36,475) 140,308 Other comprehensive income, net of taxes 210 4 — — (4) 210 Common stock dividends (94,425) (12,300) (11,400) — 23,700 (94,425) Balance, September 30, 2022 $ 2,307,992 338,598 350,341 77 (689,016) $ 2,307,992
Schedule of Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows Nine months ended September 30, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 336,248 59,029 35,284 — (24,450) $ 406,111 Cash flows from investing activities Capital expenditures (217,276) (47,609) (69,612) — — (334,497) Advances from affiliates — 4,500 21,700 — (26,200) — Other 3,179 912 1,125 — — 5,216 Net cash used in investing activities (214,097) (42,197) (46,787) — (26,200) (329,281) Cash flows from financing activities Common stock dividends (96,750) (13,425) (11,025) — 24,450 (96,750) Preferred stock dividends of Hawaiian Electric and subsidiaries (810) (400) (286) — — (1,496) Proceeds from issuance of long-term debt 300,000 25,000 25,000 — — 350,000 Net decrease in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less (114,167) — — — 26,200 (87,967) Payments of obligations under finance leases (1,914) (248) — (2,162) Other (571) (135) (137) — — (843) Net cash provided by financing activities 85,788 10,792 13,552 — 50,650 160,782 Net increase in cash, cash equivalents and restricted cash 207,939 27,624 2,049 — — 237,612 Cash, cash equivalents and restricted cash, beginning of period 27,579 5,092 6,494 77 — 39,242 Cash, cash equivalents and restricted cash, end of period 235,518 32,716 8,543 77 — 276,854 Less: Restricted cash (2,000) — — — — (2,000) Cash and cash equivalents, end of period $ 233,518 32,716 8,543 77 — $ 274,854 Condensed Consolidating Statement of Cash Flows Nine months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 74,053 38,302 35,512 — (23,700) $ 124,167 Cash flows from investing activities Capital expenditures (152,015) (34,055) (39,806) — — (225,876) Advances from (to) affiliates 1,000 (1,500) (16,000) — 16,500 — Other 4,545 825 1,380 — — 6,750 Net cash used in investing activities (146,470) (34,730) (54,426) — 16,500 (219,126) Cash flows from financing activities Common stock dividends (94,425) (12,300) (11,400) — 23,700 (94,425) Preferred stock dividends of Hawaiian Electric and subsidiaries (810) (400) (286) — — (1,496) Proceeds from issuance of long-term debt 40,000 10,000 10,000 — — 60,000 Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 114,950 (1,000) — — (16,500) 97,450 Payments of obligations under finance leases (266) — — — — (266) Other (170) (44) (44) — — (258) Net cash provided by (used in) financing activities 59,279 (3,744) (1,730) — 7,200 61,005 Net decrease in cash and cash equivalents (13,138) (172) (20,644) — — (33,954) Cash and cash equivalents, beginning of period 26,433 5,326 23,422 77 — 55,258 Cash and cash equivalents, end of period $ 13,295 5,154 2,778 77 — $ 21,304

Bank segment (Tables)

Bank segment (Tables)	9 Months Ended
	Sep. 30, 2023
Bank Subsidiary [Abstract]
Schedule of Statements of Income Data	Condensed Consolidating Statement of Income Three months ended September 30, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 570,323 116,192 108,472 — — $ 794,987 Expenses Fuel oil 196,223 30,956 40,259 — — 267,438 Purchased power 132,536 30,265 14,994 — — 177,795 Other operation and maintenance 83,528 21,351 37,629 — — 142,508 Depreciation 41,276 10,635 9,254 — — 61,165 Taxes, other than income taxes 53,511 10,857 10,355 — — 74,723 Total expenses 507,074 104,064 112,491 — — 723,629 Operating income (loss) 63,249 12,128 (4,019) — — 71,358 Allowance for equity funds used during construction 3,005 366 629 — — 4,000 Equity in earnings of subsidiaries 3,005 — — — (3,005) — Retirement defined benefits credit (expense)—other than service costs 992 163 (23) — — 1,132 Interest expense and other charges, net (16,295) (2,988) (3,164) — — (22,447) Allowance for borrowed funds used during construction 1,047 117 208 — — 1,372 Income (loss) before income taxes 55,003 9,786 (6,369) — (3,005) 55,415 Income taxes 11,272 2,234 (2,050) — — 11,456 Net income (loss) 43,731 7,552 (4,319) — (3,005) 43,959 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income (loss) attributable to Hawaiian Electric 43,731 7,419 (4,414) — (3,005) 43,731 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income (loss) for common stock $ 43,461 7,419 (4,414) — (3,005) $ 43,461 Condensed Consolidating Statement of Income Three months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 693,281 130,858 131,910 — (78) $ 955,971 Expenses Fuel oil 280,447 40,540 62,615 — — 383,602 Purchased power 171,470 37,263 16,476 — — 225,209 Other operation and maintenance 77,115 21,882 22,113 — — 121,110 Depreciation 39,474 10,350 8,887 — — 58,711 Taxes, other than income taxes 64,051 12,026 12,213 — — 88,290 Total expenses 632,557 122,061 122,304 — — 876,922 Operating income 60,724 8,797 9,606 — (78) 79,049 Allowance for equity funds used during construction 2,063 206 283 — — 2,552 Equity in earnings of subsidiaries 10,577 — — — (10,577) — Retirement defined benefits credit (expense)—other than service costs 760 166 (31) — — 895 Interest expense and other charges, net (14,221) (2,716) (2,750) — 78 (19,609) Allowance for borrowed funds used during construction 674 63 88 — — 825 Income before income taxes 60,577 6,516 7,196 — (10,577) 63,712 Income taxes 10,543 1,424 1,483 — — 13,450 Net income 50,034 5,092 5,713 — (10,577) 50,262 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income attributable to Hawaiian Electric 50,034 4,959 5,618 — (10,577) 50,034 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 49,764 4,959 5,618 — (10,577) $ 49,764 Condensed Consolidating Statement of Income Nine months ended September 30, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Revenues $ 1,742,542 343,554 333,573 — (130) $ 2,419,539 Expenses Fuel oil 663,521 79,187 138,984 — — 881,692 Purchased power 362,275 101,597 35,118 — — 498,990 Other operation and maintenance 255,728 64,367 87,089 — — 407,184 Depreciation 123,114 31,906 27,761 — — 182,781 Taxes, other than income taxes 164,510 31,983 31,541 — — 228,034 Total expenses 1,569,148 309,040 320,493 — — 2,198,681 Operating income 173,394 34,514 13,080 — (130) 220,858 Allowance for equity funds used during construction 8,604 1,004 1,465 — — 11,073 Equity in earnings of subsidiaries 25,960 — — — (25,960) — Retirement defined benefits credit (expense)—other than service costs 2,801 500 (74) — — 3,227 Interest expense and other charges, net (45,594) (8,794) (9,307) — 130 (63,565) Allowance for borrowed funds used during construction 2,995 321 482 — — 3,798 Income before income taxes 168,160 27,545 5,646 — (25,960) 175,391 Income taxes 31,581 6,261 284 — — 38,126 Net income 136,579 21,284 5,362 — (25,960) 137,265 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 136,579 20,884 5,076 — (25,960) 136,579 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 135,769 20,884 5,076 — (25,960) $ 135,769 Condensed Consolidating Statement of Income Nine months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Revenues $ 1,769,995 363,888 349,866 — (113) $ 2,483,636 Expenses Fuel oil 619,169 98,856 156,518 — — 874,543 Purchased power 460,855 106,710 39,262 — — 606,827 Other operation and maintenance 243,478 63,427 64,354 — — 371,259 Depreciation 118,459 31,053 26,409 — — 175,921 Taxes, other than income taxes 165,350 33,436 32,502 — — 231,288 Total expenses 1,607,311 333,482 319,045 — — 2,259,838 Operating income 162,684 30,406 30,821 — (113) 223,798 Allowance for equity funds used during construction 5,999 616 816 — — 7,431 Equity in earnings of subsidiaries 36,475 — — — (36,475) — Retirement defined benefits credit (expense)—other than service costs 2,471 500 (95) — — 2,876 Interest expense and other charges, net (40,833) (7,967) (8,048) — 113 (56,735) Allowance for borrowed funds used during construction 1,962 190 249 — — 2,401 Income before income taxes 168,758 23,745 23,743 — (36,475) 179,771 Income taxes 27,640 5,351 4,976 — — 37,967 Net income 141,118 18,394 18,767 — (36,475) 141,804 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 141,118 17,994 18,481 — (36,475) 141,118 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 140,308 17,994 18,481 — (36,475) $ 140,308 Statements of Income and Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 Interest and dividend income Interest and fees on loans $ 71,540 $ 53,365 $ 204,348 $ 147,499 Interest and dividends on investment securities 14,096 15,052 42,508 43,729 Total interest and dividend income 85,636 68,417 246,856 191,228 Interest expense Interest on deposit liabilities 14,446 1,704 30,944 3,572 Interest on other borrowings 8,598 1,055 25,171 1,199 Total interest expense 23,044 2,759 56,115 4,771 Net interest income 62,592 65,658 190,741 186,457 Provision for credit losses 8,835 (186) 10,053 (692) Net interest income after provision for credit losses 53,757 65,844 180,688 187,149 Noninterest income Fees from other financial services 4,703 4,763 14,391 15,066 Fee income on deposit liabilities 4,924 4,879 14,027 14,122 Fee income on other financial products 2,440 2,416 7,952 7,663 Bank-owned life insurance 2,303 122 5,683 661 Mortgage banking income 341 181 701 1,630 Gain on sale of real estate — — 495 1,002 Other income, net 627 633 2,106 1,480 Total noninterest income 15,338 12,994 45,355 41,624 Noninterest expense Compensation and employee benefits 29,902 28,597 89,500 83,478 Occupancy 5,154 5,577 16,281 16,996 Data processing 5,133 4,509 15,240 13,144 Services 3,627 2,751 8,911 7,712 Equipment 3,125 2,432 8,728 7,163 Office supplies, printing and postage 1,022 1,123 3,296 3,256 Marketing 984 925 2,834 2,877 Other expense 7,399 5,643 19,742 14,542 Total noninterest expense 56,346 51,557 164,532 149,168 Income before income taxes 12,749 27,281 61,511 79,605 Income taxes 1,384 6,525 11,380 17,513 Net income 11,365 20,756 50,131 62,092 Other comprehensive income (loss), net of taxes (34,231) (98,942) (23,011) (310,218) Comprehensive income (loss) $ (22,866) $ (78,186) $ 27,120 $ (248,126) Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 Interest and dividend income $ 85,636 $ 68,417 $ 246,856 $ 191,228 Noninterest income 15,338 12,994 45,355 41,624 Less: Gain on sale of real estate — — 495 1,002 *Revenues-Bank 100,974 81,411 291,716 231,850 Total interest expense 23,044 2,759 56,115 4,771 Provision for credit losses 8,835 (186) 10,053 (692) Noninterest expense 56,346 51,557 164,532 149,168 Less: Gain on sale of real estate — — 495 1,002 Less: Retirement defined benefits credit—other than service costs (190) (181) (564) (552) *Expenses-Bank 88,415 54,311 230,769 152,797 *Operating income-Bank 12,559 27,100 60,947 79,053 Add back: Retirement defined benefits credit—other than service costs (190) (181) (564) (552) Income before income taxes $ 12,749 $ 27,281 $ 61,511 $ 79,605
Schedule of Statements of Comprehensive Income Data	Statements of Income and Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 Interest and dividend income Interest and fees on loans $ 71,540 $ 53,365 $ 204,348 $ 147,499 Interest and dividends on investment securities 14,096 15,052 42,508 43,729 Total interest and dividend income 85,636 68,417 246,856 191,228 Interest expense Interest on deposit liabilities 14,446 1,704 30,944 3,572 Interest on other borrowings 8,598 1,055 25,171 1,199 Total interest expense 23,044 2,759 56,115 4,771 Net interest income 62,592 65,658 190,741 186,457 Provision for credit losses 8,835 (186) 10,053 (692) Net interest income after provision for credit losses 53,757 65,844 180,688 187,149 Noninterest income Fees from other financial services 4,703 4,763 14,391 15,066 Fee income on deposit liabilities 4,924 4,879 14,027 14,122 Fee income on other financial products 2,440 2,416 7,952 7,663 Bank-owned life insurance 2,303 122 5,683 661 Mortgage banking income 341 181 701 1,630 Gain on sale of real estate — — 495 1,002 Other income, net 627 633 2,106 1,480 Total noninterest income 15,338 12,994 45,355 41,624 Noninterest expense Compensation and employee benefits 29,902 28,597 89,500 83,478 Occupancy 5,154 5,577 16,281 16,996 Data processing 5,133 4,509 15,240 13,144 Services 3,627 2,751 8,911 7,712 Equipment 3,125 2,432 8,728 7,163 Office supplies, printing and postage 1,022 1,123 3,296 3,256 Marketing 984 925 2,834 2,877 Other expense 7,399 5,643 19,742 14,542 Total noninterest expense 56,346 51,557 164,532 149,168 Income before income taxes 12,749 27,281 61,511 79,605 Income taxes 1,384 6,525 11,380 17,513 Net income 11,365 20,756 50,131 62,092 Other comprehensive income (loss), net of taxes (34,231) (98,942) (23,011) (310,218) Comprehensive income (loss) $ (22,866) $ (78,186) $ 27,120 $ (248,126) Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 Interest and dividend income $ 85,636 $ 68,417 $ 246,856 $ 191,228 Noninterest income 15,338 12,994 45,355 41,624 Less: Gain on sale of real estate — — 495 1,002 *Revenues-Bank 100,974 81,411 291,716 231,850 Total interest expense 23,044 2,759 56,115 4,771 Provision for credit losses 8,835 (186) 10,053 (692) Noninterest expense 56,346 51,557 164,532 149,168 Less: Gain on sale of real estate — — 495 1,002 Less: Retirement defined benefits credit—other than service costs (190) (181) (564) (552) *Expenses-Bank 88,415 54,311 230,769 152,797 *Operating income-Bank 12,559 27,100 60,947 79,053 Add back: Retirement defined benefits credit—other than service costs (190) (181) (564) (552) Income before income taxes $ 12,749 $ 27,281 $ 61,511 $ 79,605
Schedule of Balance Sheets Data	Condensed Consolidating Balance Sheet September 30, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,859 5,645 3,594 — — $ 52,098 Plant and equipment 5,422,393 1,448,183 1,329,252 — — 8,199,828 Right-of-use assets - finance lease 88,297 36,075 — — — 124,372 Less accumulated depreciation (1,953,609) (663,303) (605,118) — — (3,222,030) Construction in progress 258,204 35,281 63,804 — — 357,289 Utility property, plant and equipment, net 3,858,144 861,881 791,532 — — 5,511,557 Nonutility property, plant and equipment, less accumulated depreciation 5,295 115 1,532 — — 6,942 Total property, plant and equipment, net 3,863,439 861,996 793,064 — — 5,518,499 Investment in wholly owned subsidiaries, at equity 703,311 — — — (703,311) — Current assets Cash and cash equivalents 233,518 32,716 8,543 77 — 274,854 Restricted cash 2,000 — — — — 2,000 Customer accounts receivable, net 172,730 34,550 34,482 — — 241,762 Accrued unbilled revenues, net 132,552 22,062 24,713 — — 179,327 Other accounts receivable, net 115,498 7,124 11,778 — (44,577) 89,823 Fuel oil stock, at average cost 112,468 14,400 25,900 — — 152,768 Materials and supplies, at average cost 58,834 13,077 27,615 — — 99,526 Prepayments and other 41,304 5,468 7,766 — — 54,538 Regulatory assets 49,489 5,110 3,322 — — 57,921 Total current assets 918,393 134,507 144,119 77 (44,577) 1,152,519 Other long-term assets Operating lease right-of-use assets 36,627 29,193 10,241 — — 76,061 Regulatory assets 146,735 14,583 11,958 — — 173,276 Other 112,601 33,011 29,468 — (16,988) 158,092 Total other long-term assets 295,963 76,787 51,667 — (16,988) 407,429 Total assets $ 5,781,106 1,073,290 988,850 77 (764,876) $ 7,078,447 Capitalization and liabilities Capitalization Common stock equity $ 2,383,023 352,170 351,064 77 (703,311) $ 2,383,023 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,426,353 249,308 258,383 — — 1,934,044 Total capitalization 3,831,669 608,478 614,447 77 (703,311) 4,351,360 Current liabilities Current portion of operating lease liabilities 7,308 6,942 2,762 — — 17,012 Current portion of long-term debt 49,998 19,999 29,999 — — 99,996 Accounts payable 141,738 25,436 34,525 — — 201,699 Interest and preferred dividends payable 21,304 3,924 4,830 — — 30,058 Taxes accrued, including revenue taxes 196,037 40,706 37,529 — — 274,272 Regulatory liabilities 9,999 6,842 9,484 — — 26,325 Other 148,400 23,182 36,302 — (44,577) 163,307 Total current liabilities 574,784 127,031 155,431 — (44,577) 812,669 Deferred credits and other liabilities Operating lease liabilities 35,967 22,575 7,757 — — 66,299 Finance lease liabilities 82,935 35,205 — — — 118,140 Deferred income taxes 274,577 50,405 60,693 — — 385,675 Regulatory liabilities 770,268 197,045 108,136 — — 1,075,449 Unamortized tax credits 65,153 12,410 12,184 — — 89,747 Defined benefit pension liability 65,872 — — — (16,988) 48,884 Other 79,881 20,141 30,202 — — 130,224 Total deferred credits and other liabilities 1,374,653 337,781 218,972 — (16,988) 1,914,418 Total capitalization and liabilities $ 5,781,106 1,073,290 988,850 77 (764,876) $ 7,078,447 Condensed Consolidating Balance Sheet December 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,860 5,606 3,594 — — $ 52,060 Plant and equipment 5,260,685 1,425,442 1,293,383 — — 7,979,510 Finance lease right-of-use assets 48,371 — — — — 48,371 Less accumulated depreciation (1,855,150) (644,457) (586,892) — — (3,086,499) Construction in progress 215,560 23,989 35,804 — — 275,353 Utility property, plant and equipment, net 3,712,326 810,580 745,889 — — 5,268,795 Nonutility property, plant and equipment, less accumulated depreciation 5,298 115 1,532 — — 6,945 Total property, plant and equipment, net 3,717,624 810,695 747,421 — — 5,275,740 Investment in wholly owned subsidiaries, at equity 701,833 — — — (701,833) — Current assets Cash and cash equivalents 27,579 5,092 6,494 77 — 39,242 Advances to affiliates — 4,500 21,700 — (26,200) — Customer accounts receivable, net 216,802 39,339 32,197 — — 288,338 Accrued unbilled revenues, net 136,508 23,839 22,933 — — 183,280 Other accounts receivable, net 23,746 5,519 6,686 — (22,384) 13,567 Fuel oil stock, at average cost 153,342 16,964 21,224 — — 191,530 Materials and supplies, at average cost 48,130 9,783 21,655 — — 79,568 Prepayments and other 24,040 6,346 4,137 — (1,041) 33,482 Regulatory assets 46,504 2,435 3,334 — — 52,273 Total current assets 676,651 113,817 140,360 77 (49,625) 881,280 Other long-term assets Operating lease right-of-use assets 42,752 34,283 12,283 — — 89,318 Regulatory assets 154,040 21,816 14,384 — — 190,240 Other 115,028 32,654 29,495 — (16,288) 160,889 Total other long-term assets 311,820 88,753 56,162 — (16,288) 440,447 Total assets $ 5,407,928 1,013,265 943,943 77 (767,746) $ 6,597,467 Capitalization and liabilities Capitalization Common stock equity $ 2,344,170 344,720 357,036 77 (701,833) $ 2,344,170 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,126,915 224,439 233,500 — — 1,584,854 Total capitalization 3,493,378 576,159 595,536 77 (701,833) 3,963,317 Current liabilities Current portion of operating lease liabilities 9,775 6,690 2,630 — — 19,095 Current portion of long-term debt 49,981 19,992 29,989 — — 99,962 Short-term borrowings-non-affiliate 87,967 — — — — 87,967 Short-term borrowings-affiliate 26,200 — — — (26,200) — Accounts payable 143,253 32,113 27,126 — — 202,492 Interest and preferred dividends payable 12,398 2,576 2,282 — (80) 17,176 Taxes accrued, including revenue taxes 207,798 42,436 40,709 — (1,041) 289,902 Regulatory liabilities 13,145 8,553 9,777 — — 31,475 Other 64,659 20,856 22,385 — (22,304) 85,596 Total current liabilities 615,176 133,216 134,898 — (49,625) 833,665 Deferred credits and other liabilities Operating lease liabilities 41,049 27,817 9,849 — — 78,715 Finance lease liabilities 46,048 — — — — 46,048 Deferred income taxes 271,234 50,615 62,581 — — 384,430 Regulatory liabilities 729,683 194,222 100,270 — — 1,024,175 Unamortized tax credits 69,614 13,150 12,536 — — 95,300 Defined benefit pension and other postretirement benefit plans liability 65,907 129 — — (16,288) 49,748 Other 75,839 17,957 28,273 — — 122,069 Total deferred credits and other liabilities 1,299,374 303,890 213,509 — (16,288) 1,800,485 Total capitalization and liabilities $ 5,407,928 1,013,265 943,943 77 (767,746) $ 6,597,467 Balance Sheets Data (in thousands) September 30, 2023 December 31, 2022 Assets Cash and due from banks $ 139,059 $ 153,042 Interest-bearing deposits 124,531 3,107 Cash and cash equivalents 263,590 156,149 Investment securities Available-for-sale, at fair value 1,266,412 1,429,667 Held-to-maturity, at amortized cost (fair value of $1,052,221 and $1,150,971, respectively) 1,212,005 1,251,747 Stock in Federal Home Loan Bank, at cost 18,000 26,560 Loans held for investment 6,191,006 5,978,906 Allowance for credit losses (76,366) (72,216) Net loans 6,114,640 5,906,690 Loans held for sale, at lower of cost or fair value 2,171 824 Other 698,420 692,143 Goodwill 82,190 82,190 Total assets $ 9,657,428 $ 9,545,970 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,573,010 $ 2,811,077 Deposit liabilities—interest-bearing 5,651,341 5,358,619 Other borrowings 750,000 695,120 Other 224,136 212,269 Total liabilities 9,198,487 9,077,085 Common stock 1 1 Additional paid-in capital 357,742 355,806 Retained earnings 460,824 449,693 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (350,234) $ (328,904) Retirement benefit plans (9,392) (359,626) (7,711) (336,615) Total shareholder’s equity 458,941 468,885 Total liabilities and shareholder’s equity $ 9,657,428 $ 9,545,970 Other assets Bank-owned life insurance $ 186,143 $ 182,986 Premises and equipment, net 189,950 195,324 Accrued interest receivable 29,361 25,077 Mortgage-servicing rights 8,376 9,047 Low-income housing investments 103,580 106,978 Deferred tax asset 127,735 116,441 Real estate acquired in settlement of loans, net — 115 Other 53,275 56,175 $ 698,420 $ 692,143 Other liabilities Accrued expenses $ 102,540 $ 97,295 Federal and state income taxes payable 845 863 Cashier’s checks 38,483 36,401 Advance payments by borrowers 4,289 9,637 Other 77,979 68,073 $ 224,136 $ 212,269
Schedule of the Book Value and Aggregate Fair Value by Major Security Type	The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair Amount Number of issues Fair Amount September 30, 2023 Available-for-sale U.S. Treasury and federal agency obligations $ 82,252 $ — $ (7,252) $ 75,000 — $ — $ — 14 $ 75,000 $ (7,252) Mortgage-backed securities* 1,427,186 — (282,019) 1,145,167 5 12,650 (3,432) 178 1,132,517 (278,587) Corporate bonds 35,273 — (3,522) 31,751 — — — 3 31,751 (3,522) Mortgage revenue bonds 14,494 — — 14,494 — — — — — — $ 1,559,205 $ — $ (292,793) $ 1,266,412 5 $ 12,650 $ (3,432) 195 $ 1,239,268 $ (289,361) Held-to-maturity U.S. Treasury and federal agency obligations $ 59,912 $ — $ (9,541) $ 50,371 — $ — $ — 3 $ 50,371 $ (9,541) Mortgage-backed securities* 1,152,093 — (150,243) 1,001,850 62 612,587 (42,892) 41 389,263 (107,351) $ 1,212,005 $ — $ (159,784) $ 1,052,221 62 $ 612,587 $ (42,892) 44 $ 439,634 $ (116,892) December 31, 2022 Available-for-sale U.S. Treasury and federal agency obligations $ 88,344 $ — $ (7,281) $ 81,063 12 $ 41,201 $ (2,120) 4 $ 39,862 $ (5,161) Mortgage-backed securities* 1,530,582 — (237,614) 1,292,968 113 455,836 (56,999) 70 837,132 (180,615) Corporate bonds 44,377 — (3,643) 40,734 4 29,644 (2,028) 1 11,090 (1,615) Mortgage revenue bonds 14,902 — — 14,902 — — — — — — $ 1,678,205 $ — $ (248,538) $ 1,429,667 129 $ 526,681 $ (61,147) 75 $ 888,084 $ (187,391) Held-to-maturity U.S. Treasury and federal agency obligations $ 59,894 $ — $ (8,478) $ 51,416 1 $ 16,874 $ (3,222) 2 $ 34,542 $ (5,256) Mortgage-backed securities* 1,191,853 2,670 (94,968) 1,099,555 22 183,629 (10,593) 51 567,250 (84,375) $ 1,251,747 $ 2,670 $ (103,446) $ 1,150,971 23 $ 200,503 $ (13,815) 53 $ 601,792 $ (89,631) * Issued or guaranteed by U.S. Government agencies or sponsored agencies
Schedule of Contractual Maturities of Available-for-Sale Securities	The contractual maturities of investment securities were as follows: September 30, 2023 Amortized Fair value (in thousands) Available-for-sale Due in one year or less $ 1,811 $ 1,782 Due after one year through five years 115,714 104,970 Due after five years through ten years 14,494 14,494 Due after ten years — — 132,019 121,246 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,427,186 1,145,166 Total available-for-sale securities $ 1,559,205 $ 1,266,412 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years 39,824 34,133 Due after five years through ten years 20,088 16,238 Due after ten years — — 59,912 50,371 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,152,093 1,001,850 Total held-to-maturity securities $ 1,212,005 $ 1,052,221
Schedule of Components of Loans Receivable	The components of loans were summarized as follows: September 30, 2023 December 31, 2022 (in thousands) Real estate: Residential 1-4 family $ 2,566,300 $ 2,479,637 Commercial real estate 1,400,570 1,358,123 Home equity line of credit 1,032,749 1,002,905 Residential land 20,245 20,679 Commercial construction 168,539 88,489 Residential construction 17,295 20,788 Total real estate 5,205,698 4,970,621 Commercial 732,458 779,691 Consumer 282,946 254,709 Total loans 6,221,102 6,005,021 Less: Deferred fees and discounts (30,096) (26,115) Allowance for credit losses (76,366) (72,216) Total loans, net $ 6,114,640 $ 5,906,690
Schedule of Allowance for Credit Losses	The allowance for credit losses (balances and changes) by portfolio segment were as follows: (in thousands) Residential Commercial real Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Total Three months ended September 30, 2023 Allowance for credit losses: Beginning balance $ 4,708 $ 20,278 $ 7,139 $ 653 $ 2,549 $ 26 $ 11,358 $ 22,357 $ 69,068 Charge-offs — — — — — — (125) (2,667) (2,792) Recoveries 57 — 131 1 — — 725 841 1,755 Provision 1,702 2,180 505 (33) 1,075 16 (1,175) 4,065 8,335 Ending balance $ 6,467 $ 22,458 $ 7,775 $ 621 $ 3,624 $ 42 $ 10,783 $ 24,596 $ 76,366 Three months ended September 30, 2022 Allowance for credit losses: Beginning balance $ 8,520 $ 20,900 $ 6,096 $ 677 $ 2,634 $ 46 $ 12,413 $ 18,170 $ 69,456 Charge-offs — — — — — — (143) (1,503) (1,646) Recoveries 2 — 14 — — — 303 963 1,282 Provision (938) 136 (167) 12 (1,635) 3 378 3,525 1,314 Ending balance $ 7,584 $ 21,036 $ 5,943 $ 689 $ 999 $ 49 $ 12,951 $ 21,155 $ 70,406 Nine months ended September 30, 2023 Allowance for credit losses: Beginning balance $ 6,270 $ 21,898 $ 6,125 $ 717 $ 1,195 $ 46 $ 12,426 $ 23,539 $ 72,216 Charge-offs (990) — (360) — — — (509) (7,558) (9,417) Recoveries 63 — 165 4 — — 1,329 2,653 4,214 Provision 1,124 560 1,845 (100) 2,429 (4) (2,463) 5,962 9,353 Ending balance $ 6,467 $ 22,458 $ 7,775 $ 621 $ 3,624 $ 42 $ 10,783 $ 24,596 $ 76,366 Nine months ended September 30, 2022 Allowance for credit losses: Beginning balance $ 6,545 $ 24,696 $ 5,657 $ 646 $ 2,186 $ 18 $ 15,798 $ 15,584 $ 71,130 Charge-offs — — — — — — (367) (4,354) (4,721) Recoveries 13 — 56 101 — — 1,055 2,964 4,189 Provision 1,026 (3,660) 230 (58) (1,187) 31 (3,535) 6,961 (192) Ending balance $ 7,584 $ 21,036 $ 5,943 $ 689 $ 999 $ 49 $ 12,951 $ 21,155 $ 70,406
Schedule of Allowance for Loan Commitments	The allowance for loan commitments by portfolio segment were as follows: (in thousands) Home equity Commercial construction Commercial loans Total Three months ended September 30, 2023 Allowance for loan commitments: Beginning balance $ 600 $ 3,800 $ 200 $ 4,600 Provision — 500 — 500 Ending balance $ 600 $ 4,300 $ 200 $ 5,100 Three months ended September 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 4,100 $ 1,400 $ 5,900 Provision — (1,500) — (1,500) Ending balance $ 400 $ 2,600 $ 1,400 $ 4,400 Nine months ended September 30, 2023 Allowance for loan commitments: Beginning balance $ 400 $ 2,600 $ 1,400 $ 4,400 Provision 200 1,700 (1,200) 700 Ending balance $ 600 $ 4,300 $ 200 $ 5,100 Nine months ended September 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,700 $ 800 $ 4,900 Provision — (1,100) 600 (500) Ending balance $ 400 $ 2,600 $ 1,400 $ 4,400
Schedule of Credit Risk Profile by Internally Assigned Grade for Loans	The credit risk profile by vintage date based on payment activity or internally assigned grade for loans was as follows: Term Loans by Origination Year Revolving Loans (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Converted to term loans Total September 30, 2023 Residential 1-4 family Current $ 199,880 $ 414,053 $ 741,401 $ 405,552 $ 107,566 $ 692,167 $ — $ — $ 2,560,619 30-59 days past due — — — 267 — 2,654 — — 2,921 60-89 days past due — — — — — 973 — — 973 Greater than 89 days past due — — — — — 1,787 — — 1,787 199,880 414,053 741,401 405,819 107,566 697,581 — — 2,566,300 Current YTD period Gross charge-offs — — — — — 990 — — 990 Home equity line of credit Current — — — — — — 976,029 54,579 1,030,608 30-59 days past due — — — — — — 463 246 709 60-89 days past due — — — — — — 350 321 671 Greater than 89 days past due — — — — — — 495 266 761 — — — — — — 977,337 55,412 1,032,749 Current YTD period Gross charge-offs — — — — — — 77 283 360 Residential land Current 3,077 5,118 7,549 3,518 — 983 — — 20,245 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 3,077 5,118 7,549 3,518 — 983 — — 20,245 Current YTD period Gross charge-offs — — — — — — — — — Residential construction Current 2,780 11,019 3,496 — — — — — 17,295 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 2,780 11,019 3,496 — — — — — 17,295 Current YTD period Gross charge-offs — — — — — — — — — Consumer Current 82,282 164,693 12,203 2,394 1,010 222 10,345 3,413 276,562 30-59 days past due 822 1,882 122 43 49 1 46 156 3,121 60-89 days past due 362 933 108 35 52 — 32 81 1,603 Greater than 89 days past due 375 785 102 33 26 2 151 186 1,660 83,841 168,293 12,535 2,505 1,137 225 10,574 3,836 282,946 Current YTD period Gross charge-offs 850 4,637 840 163 363 39 279 387 7,558 Commercial real estate Pass 81,287 390,352 177,125 265,808 66,112 329,235 15,482 — 1,325,401 Special Mention — — 11,214 3,381 14,452 22,367 — — 51,414 Substandard 5,386 — 1,549 — 11,048 5,772 — — 23,755 Doubtful — — — — — — — — — 86,673 390,352 189,888 269,189 91,612 357,374 15,482 — 1,400,570 Term Loans by Origination Year Revolving Loans (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Converted to term loans Total Current YTD period Gross charge-offs — — — — — — — — — Commercial construction Pass 10,643 21,440 66,143 356 — — 69,957 — 168,539 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 10,643 21,440 66,143 356 — — 69,957 — 168,539 Current YTD period Gross charge-offs — — — — — — — — — Commercial Pass 82,145 209,364 124,453 75,753 46,291 81,409 81,627 9,560 710,602 Special Mention 1,945 — 970 — 272 — 7,151 — 10,338 Substandard — 3,054 2,040 230 763 3,409 1,506 516 11,518 Doubtful — — — — — — — — — 84,090 212,418 127,463 75,983 47,326 84,818 90,284 10,076 732,458 Current YTD period Gross charge-offs — — 51 — — — 177 281 509 Total loans $ 470,984 $ 1,222,693 $ 1,148,475 $ 757,370 $ 247,641 $ 1,140,981 $ 1,163,634 $ 69,324 $ 6,221,102 Term Loans by Origination Year Revolving Loans (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Converted to term loans Total December 31, 2022 Residential 1-4 family Current $ 432,707 $ 755,056 $ 423,455 $ 113,096 $ 51,860 $ 698,354 $ — $ — $ 2,474,528 30-59 days past due — — — — 448 1,098 — — 1,546 60-89 days past due — — 268 — — 90 — — 358 Greater than 89 days past due — — — — 809 2,396 — — 3,205 432,707 755,056 423,723 113,096 53,117 701,938 — — 2,479,637 Home equity line of credit Current — — — — — — 959,131 40,814 999,945 30-59 days past due — — — — — — 1,103 209 1,312 60-89 days past due — — — — — — 209 226 435 Greater than 89 days past due — — — — — — 587 626 1,213 — — — — — — 961,030 41,875 1,002,905 Residential land Current 5,245 9,010 5,222 203 522 477 — — 20,679 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 5,245 9,010 5,222 203 522 477 — — 20,679 Residential construction Current 7,986 11,624 1,178 — — — — — 20,788 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 7,986 11,624 1,178 — — — — — 20,788 Consumer Current 199,574 21,330 5,543 7,580 527 140 10,810 4,782 250,286 30-59 days past due 1,110 287 65 239 30 — 81 167 1,979 60-89 days past due 756 163 88 137 19 — 45 107 1,315 Greater than 89 days past due 621 105 37 176 28 — 20 142 1,129 202,061 21,885 5,733 8,132 604 140 10,956 5,198 254,709 Commercial real estate Pass 390,206 177,130 283,321 51,542 63,084 278,280 8,235 — 1,251,798 Special Mention — 11,250 3,446 40,423 — 24,466 — — 79,585 Substandard — — 665 11,357 — 14,718 — — 26,740 Doubtful — — — — — — — — — 390,206 188,380 287,432 103,322 63,084 317,464 8,235 — 1,358,123 Commercial construction Pass 15,094 47,478 44 — — — 25,873 — 88,489 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 15,094 47,478 44 — — — 25,873 — 88,489 Commercial Pass 239,852 185,013 85,220 68,161 46,142 53,192 60,871 13,964 752,415 Special Mention — — — 2,374 — 645 9,005 8 12,032 Substandard 3,322 2,305 401 1,304 1,346 3,849 1,664 1,053 15,244 Doubtful — — — — — — — — — 243,174 187,318 85,621 71,839 47,488 57,686 71,540 15,025 779,691 Total loans $ 1,296,473 $ 1,220,751 $ 808,953 $ 296,592 $ 164,815 $ 1,077,705 $ 1,077,634 $ 62,098 $ 6,005,021
Schedule of Credit Risk Profile Based on Payment Activity for Loans	The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 60-89 Total Current Total Amortized cost> September 30, 2023 Real estate: Residential 1-4 family $ 2,921 $ 973 $ 1,787 $ 5,681 $ 2,560,619 $ 2,566,300 $ — Commercial real estate — — — — 1,400,570 1,400,570 — Home equity line of credit 709 671 761 2,141 1,030,608 1,032,749 — Residential land — — — — 20,245 20,245 — Commercial construction — — — — 168,539 168,539 — Residential construction — — — — 17,295 17,295 — Commercial 575 100 77 752 731,706 732,458 — Consumer 3,121 1,603 1,660 6,384 276,562 282,946 — Total loans $ 7,326 $ 3,347 $ 4,285 $ 14,958 $ 6,206,144 $ 6,221,102 $ — December 31, 2022 Real estate: Residential 1-4 family $ 1,546 $ 358 $ 3,205 $ 5,109 $ 2,474,528 $ 2,479,637 $ — Commercial real estate 508 217 — 725 1,357,398 1,358,123 — Home equity line of credit 1,312 435 1,213 2,960 999,945 1,002,905 — Residential land — — — — 20,679 20,679 — Commercial construction — — — — 88,489 88,489 — Residential construction — — — — 20,788 20,788 — Commercial 614 18 77 709 778,982 779,691 — Consumer 1,979 1,315 1,129 4,423 250,286 254,709 — Total loans $ 5,959 $ 2,343 $ 5,624 $ 13,926 $ 5,991,095 $ 6,005,021 $ —
Schedule of Credit Risk Profile Based on Nonaccrual Loans, Accruing Loans 90 days or More Past Due	The credit risk profile based on nonaccrual loans were as follows: (in thousands) September 30, 2023 December 31, 2022 With a Related ACL Without a Related ACL Total With a Related ACL Without a Related ACL Total Real estate: Residential 1-4 family $ 573 $ 2,500 $ 3,073 $ 4,198 $ 2,981 $ 7,179 Commercial real estate — — — — — — Home equity line of credit 2,764 1,017 3,781 3,654 1,442 5,096 Residential land 106 — 106 420 — 420 Commercial construction — — — — — — Residential construction — — — — — — Commercial 508 — 508 2,183 — 2,183 Consumer 2,414 — 2,414 1,588 — 1,588 Total $ 6,365 $ 3,517 $ 9,882 $ 12,043 $ 4,423 $ 16,466
Schedule of Loan Modifications	The credit risk profile based on loans whose terms have been modified and accruing interest were as follows: (in thousands) December 31, 2022 Real estate: Residential 1-4 family $ 8,821 Commercial real estate 9,477 Home equity line of credit 4,404 Residential land 782 Commercial construction — Residential construction — Commercial 6,596 Consumer 50 Total troubled debt restructured loans accruing interest $ 30,130 Three months ended September 30, 2022 Nine months ended September 30, 2022 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 2 $ 512 $ — 3 $ 893 $ 135 Commercial real estate — — — — — — Home equity line of credit — — — — — — Residential land 1 204 16 1 204 16 Commercial construction — — — — — — Residential construction — — — — — — Commercial — — — 1 288 20 Consumer — — — — — — 3 $ 716 $ 16 5 $ 1,385 $ 171 1 The period end balances reflect all paydowns and charge-offs since the modification period. TDRs fully paid off, charged-off, or foreclosed upon by period end are not included.
Schedule of Collateral-Dependent Loans	Loans considered collateral-dependent were as follows: Amortized cost (in thousands) September 30, 2023 December 31, 2022 Collateral type Real estate: Residential 1-4 family $ 2,584 $ 3,959 Residential real estate property Home equity line of credit 1,017 1,425 Residential real estate property Total $ 3,601 $ 5,384
Schedule of Amortized Intangible Assets	Changes in the carrying value of MSRs were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net September 30, 2023 $ 18,125 $ (9,749) $ — $ 8,376 December 31, 2022 19,544 (10,497) — 9,047 Changes related to MSRs were as follows: Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 Mortgage servicing rights Beginning balance $ 8,495 $ 9,696 $ 9,047 $ 9,950 Amount capitalized 184 117 319 1,040 Amortization (303) (462) (990) (1,639) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 8,376 9,351 8,376 9,351 Valuation allowance for mortgage servicing rights Beginning balance — — — — Provision — — — — Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 8,376 $ 9,351 $ 8,376 $ 9,351
Schedule of Key Assumptions Used in Estimating fair Value	Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows: (dollars in thousands) September 30, 2023 December 31, 2022 Unpaid principal balance $ 1,412,412 $ 1,451,322 Weighted average note rate 3.44 % 3.38 % Weighted average discount rate 10.00 % 10.00 % Weighted average prepayment speed 5.58 % 6.56 %
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets	The sensitivity analysis of fair value of MSRs to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions was as follows: (dollars in thousands) September 30, 2023 December 31, 2022 Prepayment rate: 25 basis points adverse rate change $ (90) $ (92) 50 basis points adverse rate change (207) (214) Discount rate: 25 basis points adverse rate change (206) (182) 50 basis points adverse rate change (407) (361)
Schedule of Securities Sold Under Agreements to Repurchase	The following tables present information about the securities sold under agreements to repurchase, including the related collateral received from or pledged to counterparties: (in millions) Gross amount Gross amount Net amount of Repurchase agreements September 30, 2023 $ — $ — $ — December 31, 2022 281 — 281 Gross amount not offset in the Balance Sheets (in millions) Net amount of liabilities presented Financial Cash Commercial account holders September 30, 2023 $ — $ — $ — December 31, 2022 281 327 —
Schedule of Notional and Fair Value of Derivatives	The notional amount and fair value of ASB’s derivative financial instruments were as follows: September 30, 2023 December 31, 2022 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 4,910 $ 54 $ 1,720 $ 9 Forward commitments 3,500 15 1,500 18
Schedule of Derivative Financial Instruments	ASB’s derivative financial instruments, their fair values and balance sheet location were as follows: Derivative Financial Instruments Not Designated as Hedging Instruments 1 September 30, 2023 December 31, 2022 (in thousands) Asset derivatives Liability Asset derivatives Liability Interest rate lock commitments $ 54 $ — $ 9 $ — Forward commitments 15 — 18 — $ 69 $ — $ 27 $ — 1 Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the balance sheets.
Schedule of Derivative Financial Instruments and Net Gain or Loss	The following table presents ASB’s derivative financial instruments and the amount and location of the net gains or losses recognized in ASB’s statements of income: Derivative Financial Instruments Not Designated as Hedging Instruments Location of net gains (losses) recognized in the Statements of Income Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 Interest rate lock commitments Mortgage banking income $ (34) $ (129) $ 45 $ (722) Forward commitments Mortgage banking income (36) 145 (3) 182 $ (70) $ 16 $ 42 $ (540)

Credit agreement and changes _2

Credit agreement and changes in debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Notes	HEI Series 2023A HEI Series 2023B Aggregate principal amount $39 million $61 million Fixed coupon interest rate 6.04% 6.10% Maturity date 6/15/2028 6/15/2033 Series 2023A Series 2023B Series 2023C Aggregate principal amount $90 million $40 million $20 million Fixed coupon interest rate Hawaiian Electric 6.11% 6.25% 6.70% Hawaii Electric Light 6.25% — — Maui Electric 6.25% — — Maturity date Hawaiian Electric 2/9/2030 2/9/2033 2/9/2053 Hawaii Electric Light 2/9/2033 — — Maui Electric 2/9/2033 — — Principal amount by company Hawaiian Electric $40 million $40 million $20 million Hawaii Electric Light $25 million — — Maui Electric $25 million — —

Shareholders' equity (Tables)

Shareholders' equity (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized gains (losses) on derivatives Retirement benefit plans AOCI AOCI-Retirement benefit plans Balance, December 31, 2022 $ (328,904) $ 1,991 $ (9,115) $ (336,028) $ 2,861 Current period other comprehensive income (loss) (21,330) (827) 161 (21,996) (166) Balance, September 30, 2023 $ (350,234) $ 1,164 $ (8,954) $ (358,024) $ 2,695 Balance, December 31, 2021 $ (32,037) $ (3,638) $ (16,858) $ (52,533) $ (3,280) Current period other comprehensive income (loss) (308,229) 6,561 657 (301,011) 210 Balance, September 30, 2022 $ (340,266) $ 2,923 $ (16,201) $ (353,544) $ (3,070)
Schedule of Reclassification out of AOCI	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Three months ended September 30 Nine months ended September 30 (in thousands) 2023 2022 2023 2022 HEI consolidated Net unrealized gains (losses) on available-for sale investment securities - amortization of unrealized holding losses on held-to-maturity securities $ 3,699 $ — $ 11,065 $ — Bank revenues Net realized losses (gains) on derivatives qualifying as cash flow hedges (47) 53 (143) 161 Interest expense Retirement benefit plans: Amortization of prior service credit and net losses (gains) recognized during the period in net periodic benefit cost (446) 5,606 (1,160) 10,229 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 470 (5,303) 1,321 (9,572) See Note 9 for additional details Total reclassifications $ 3,676 $ 356 $ 11,083 $ 818 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses (gains) recognized during the period in net periodic benefit cost $ (547) $ 5,411 $ (1,487) $ 9,782 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 470 (5,303) 1,321 (9,572) See Note 9 for additional details Total reclassifications $ (77) $ 108 $ (166) $ 210

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Three months ended September 30, 2023 Nine months ended September 30, 2023 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 257,790 $ — $ — $ 257,790 $ 753,207 $ — $ — $ 753,207 Electric energy sales - commercial 257,876 — — 257,876 762,454 — — 762,454 Electric energy sales - large light and power 284,607 — — 284,607 855,396 — — 855,396 Electric energy sales - other 4,688 — — 4,688 14,628 — — 14,628 Bank fees — 12,067 — 12,067 — 36,370 — 36,370 Other sales — — 5,016 5,016 — — 13,361 13,361 Total revenues from contracts with customers 804,961 12,067 5,016 822,044 2,385,685 36,370 13,361 2,435,416 Revenues from other sources Regulatory revenue (20,927) — — (20,927) 3,716 — — 3,716 Bank interest and dividend income — 85,636 — 85,636 — 246,856 — 246,856 Other bank noninterest income — 3,271 — 3,271 — 8,490 — 8,490 Other 10,953 — 896 11,849 30,138 — 1,179 31,317 Total revenues from other sources (9,974) 88,907 896 79,829 33,854 255,346 1,179 290,379 Total revenues $ 794,987 $ 100,974 $ 5,912 $ 901,873 $ 2,419,539 $ 291,716 $ 14,540 $ 2,725,795 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 12,067 $ — $ 12,067 $ — $ 36,370 $ — $ 36,370 Services/goods transferred over time 804,961 — 5,016 809,977 2,385,685 — 13,361 2,399,046 Total revenues from contracts with customers $ 804,961 $ 12,067 $ 5,016 $ 822,044 $ 2,385,685 $ 36,370 $ 13,361 $ 2,435,416 Three months ended September 30, 2022 Nine months ended September 30, 2022 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 306,417 $ — $ — $ 306,417 $ 790,424 $ — $ — $ 790,424 Electric energy sales - commercial 309,940 — — 309,940 794,238 — — 794,238 Electric energy sales - large light and power 351,763 — — 351,763 886,733 — — 886,733 Electric energy sales - other 5,400 — — 5,400 11,699 — — 11,699 Bank fees — 12,058 — 12,058 — 36,851 — 36,851 Other sales — — 4,760 4,760 — — 7,208 7,208 Total revenues from contracts with customers 973,520 12,058 4,760 990,338 2,483,094 36,851 7,208 2,527,153 Revenues from other sources Regulatory revenue (26,301) — — (26,301) (24,843) — — (24,843) Bank interest and dividend income — 68,417 — 68,417 — 191,228 — 191,228 Other bank noninterest income — 936 — 936 — 3,771 — 3,771 Other 8,752 — 55 8,807 25,385 — 178 25,563 Total revenues from other sources (17,549) 69,353 55 51,859 542 194,999 178 195,719 Total revenues $ 955,971 $ 81,411 $ 4,815 $ 1,042,197 $ 2,483,636 $ 231,850 $ 7,386 $ 2,722,872 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 12,058 $ — $ 12,058 $ — $ 36,851 $ — $ 36,851 Services/goods transferred over time 973,520 — 4,760 978,280 2,483,094 — 7,208 2,490,302 Total revenues from contracts with customers $ 973,520 $ 12,058 $ 4,760 $ 990,338 $ 2,483,094 $ 36,851 $ 7,208 $ 2,527,153

Retirement benefits (Tables)

Retirement benefits (Tables)	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost for Consolidated HEI	The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended September 30 Nine months ended September 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2023 2022 2023 2022 2023 2022 2023 2022 HEI consolidated Service cost $ 11,418 $ 18,831 $ 385 $ 624 $ 34,210 $ 58,478 $ 1,072 $ 1,937 Interest cost 26,022 20,274 2,075 1,593 77,265 59,895 6,389 4,868 Expected return on plan assets (35,238) (35,163) (3,426) (3,394) (105,630) (105,827) (10,236) (10,189) Amortization of net prior period gain — — (218) (232) — — (656) (696) Amortization of net actuarial (gain)/losses 138 7,782 (518) (3) 515 20,376 (1,416) (9) Net periodic pension/benefit cost (return) 2,340 11,724 (1,702) (1,412) 6,360 32,922 (4,847) (4,089) Impact of PUC D&Os 17,663 8,758 1,536 1,289 53,929 27,861 4,385 3,725 Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os) $ 20,003 $ 20,482 $ (166) $ (123) $ 60,289 $ 60,783 $ (462) $ (364) Hawaiian Electric consolidated Service cost $ 11,071 $ 18,248 $ 380 $ 617 $ 33,108 $ 56,883 $ 1,060 $ 1,915 Interest cost 24,116 18,850 1,981 1,525 71,513 55,773 6,107 4,670 Expected return on plan assets (33,029) (33,314) (3,374) (3,343) (98,972) (100,405) (10,081) (10,035) Amortization of net prior period gain — — (218) (232) — — (654) (694) Amortization of net actuarial (gain)/losses (16) 7,519 (503) — 21 19,769 (1,370) — Net periodic pension/benefit cost (return) 2,142 11,303 (1,734) (1,433) 5,670 32,020 (4,938) (4,144) Impact of PUC D&Os 17,663 8,758 1,536 1,289 53,929 27,861 4,385 3,725 Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os) $ 19,805 $ 20,061 $ (198) $ (144) $ 59,599 $ 59,881 $ (553) $ (419)

Share-based compensation (Table

Share-based compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Compensation Expense and Related Income Tax Benefit	Share-based compensation expense and the related income tax benefit were as follows: Three months ended September 30 Nine months ended September 30 (in millions) 2023 2022 2023 2022 HEI consolidated Share-based compensation expense 1 $ 2.4 $ 1.7 $ 8.3 $ 7.3 Income tax benefit 0.5 0.4 1.6 1.5 Hawaiian Electric consolidated Share-based compensation expense 1 0.7 0.6 2.5 2.1 Income tax benefit 0.1 0.1 0.5 0.5 1 For the three and nine months ended September 30, 2023 and 2022, the Company has not capitalized any share-based compensation.
Schedule of Common Stock Granted to Nonemployee Directors	HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows: Three months ended September 30 Nine months ended September 30 (dollars in millions) 2023 2022 2023 2022 Shares granted — 965 40,450 35,720 Fair value $ — $ — $ 1.5 $ 1.5 Income tax benefit — — 0.4 0.4
Schedule of Restricted Stock Units	Information about HEI’s grants of restricted stock units was as follows: Three months ended September 30 Nine months ended September 30 2023 2022 2023 2022 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 199,130 $ 41.22 208,953 $ 39.71 182,528 $ 39.75 233,448 $ 38.10 Granted — — — — 100,088 42.41 98,463 41.31 Vested — — (4,244) 39.49 (81,112) 39.37 (95,658) 37.73 Forfeited — — (16,540) 39.99 (2,374) 41.79 (48,084) 39.19 Outstanding, end of period 199,130 $ 41.22 188,169 $ 39.69 199,130 $ 41.22 188,169 $ 39.69 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ 4.2 $ 4.1
Schedule of Long-Term Incentive Plan (LTIP) Linked to Total Return to Shareholders	Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended September 30 Nine months ended September 30 2023 2022 2023 2022 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 79,284 $ 50.28 76,730 $ 47.74 71,574 $ 47.67 90,974 $ 42.86 Granted — — — — 27,123 55.98 26,469 54.92 Vested (issued or unissued and cancelled) — — — — (18,691) 48.62 (29,042) 41.07 Forfeited — — (4,829) 48.52 (722) 48.92 (16,500) 44.33 Outstanding, end of period 79,284 $ 50.28 71,901 $ 47.69 79,284 $ 50.28 71,901 $ 47.69 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ 1.5 $ 1.5
Schedule of Long-Term Incentive Plan Assumptions	The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted: 2023 2022 Risk-free interest rate 4.19 % 1.71 % Expected life in years 3 3 Expected volatility 33.1 % 31.0 % Range of expected volatility for Peer Group 28.7% to 38.8% 25.4% to 76.7% Grant date fair value (per share) $55.98 $54.92
Schedule of Long-Term Incentive Plan (LTIP) Linked to Other Performance Conditions	Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows: Three months ended September 30 Nine months ended September 30 2023 2022 2023 2022 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 357,477 $ 38.78 293,711 $ 39.91 309,589 $ 39.50 306,342 $ 38.42 Granted — — — — 108,499 42.41 105,860 41.31 Vested — — — — (62,778) 48.07 (71,807) 37.68 Increase above target 4,277 38.02 — — 10,278 37.77 — — Forfeited — — (19,316) 38.60 (3,834) 43.53 (66,000) 37.31 Outstanding, end of period 361,754 $ 39.17 274,395 $ 40.00 361,754 $ 39.17 274,395 $ 40.00 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ — $ — $ 4.6 $ 4.4

Cash flows (Tables)

Cash flows (Tables)	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Disclosures of Cash and Noncash Activity	Nine months ended September 30 2023 2022 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 104 $ 59 Income taxes paid (including refundable credits) 28 26 Income taxes refunded (including refundable credits) 1 2 Hawaiian Electric consolidated Interest paid to non-affiliates 45 40 Income taxes paid (including refundable credits) 38 46 Income taxes refunded (including refundable credits) 2 — Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 9 6 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 45 34 Increase related to an acquisition (investing) — 15 Right-of-use assets obtained in exchange for finance lease obligations (financing) 76 48 Right-of-use assets obtained in exchange for operating lease obligations (investing) 1 48 Property, plant, equipment and other assets received in exchange for the assumption of debt associated with a business acquisition (investing) — 68 Debt, lease liabilities and other liabilities assumed in business acquisition (financing) — 68 Common stock issued (gross) for director and executive/management compensation (financing) 1 8 10 Obligations to fund low income housing investments (investing) 7 9 Loans transferred from held for investment to held for sale (investing) 95 — Transfer of retail repurchase agreements to deposit liabilities (financing) 98 — Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 9 6 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 43 31 Increase related to an acquisition (investing) — 15 Right-of-use assets obtained in exchange for finance lease obligations (financing) 76 48 Right-of-use assets obtained in exchange for operating lease obligations (investing) — 44 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements (Tables

Fair value measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Carrying or Notional Amount, Fair Value and Placement in the Fair Value Hierarchy of the Company’s Financial Instruments	The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total September 30, 2023 Financial assets HEI consolidated Available-for-sale investment securities $ 1,266,412 $ — $ 1,251,918 $ 14,494 $ 1,266,412 Held-to-maturity investment securities 1,212,005 — 1,052,221 — 1,052,221 Loans, net 6,116,811 — 2,174 5,541,812 5,543,986 Mortgage servicing rights 8,376 — — 18,867 18,867 Derivative assets 19,044 15 1,350 — 1,365 Financial liabilities HEI consolidated Deposit liabilities 1,050,692 — 1,035,501 — 1,035,501 Other bank borrowings 750,000 — 743,366 — 743,366 Long-term debt, net—other than bank 2,944,589 — 2,120,573 — 2,120,573 Derivative liabilities 22,949 — 1,344 — 1,344 Hawaiian Electric consolidated Long-term debt, net 2,034,040 — 1,400,901 — 1,400,901 December 31, 2022 Financial assets HEI consolidated Available-for-sale investment securities $ 1,429,667 $ — $ 1,414,765 $ 14,902 $ 1,429,667 Held-to-maturity investment securities 1,251,747 — 1,150,971 — 1,150,971 Loans, net 5,907,514 — 821 5,453,381 5,454,202 Mortgage servicing rights 9,047 — — 17,646 17,646 Derivative assets 16,220 18 1,330 — 1,348 Financial liabilities HEI consolidated Deposit liabilities 611,718 — 597,617 — 597,617 Short-term borrowings—other than bank 172,568 — 172,568 — 172,568 Other bank borrowings 695,120 — 695,095 — 695,095 Long-term debt, net—other than bank 2,384,980 — 2,122,605 — 2,122,605 Derivative liabilities 22,949 — 472 — 472 Hawaiian Electric consolidated Short-term borrowings 87,967 — 87,967 — 87,967 Long-term debt, net 1,684,816 — 1,487,496 — 1,487,496
Schedule of Assets Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at fair value on a recurring basis were as follows: September 30, 2023 December 31, 2022 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Available-for-sale investment securities (bank segment) Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies $ — $ 1,145,167 $ — $ — $ 1,292,968 $ — U.S. Treasury and federal agency obligations — 75,000 — — 81,063 — Corporate bonds — 31,751 — — 40,734 — Mortgage revenue bonds — — 14,494 — — 14,902 $ — $ 1,251,918 $ 14,494 $ — $ 1,414,765 $ 14,902 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 54 $ — $ — $ 9 $ — Forward commitments (bank segment) 1 15 — — 18 — — Interest rate swap (Other segment) 2 — 1,296 — — 1,321 — $ 15 $ 1,350 $ — $ 18 $ 1,330 $ — Derivative liabilities Interest rate swap (Other segment) 2 $ — $ 1,344 $ — $ — $ 472 $ — 1 Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income. 2 Derivatives are included in other assets and other liabilities in the balance sheets.
Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis	The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended September 30 Nine months ended September 30 Mortgage revenue bonds 2023 2022 2023 2022 (in thousands) Beginning balance $ 14,630 $ 15,165 $ 14,902 $ 15,427 Principal payments received (136) (132) (408) (394) Purchases — — — — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 14,494 $ 15,033 $ 14,494 $ 15,033

Maui windstorm and wildfires -

Maui windstorm and wildfires - Narrative (Details) $ in Millions		3 Months Ended	9 Months Ended
	Aug. 08, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($) claim	Nov. 08, 2023 USD ($)
Public Utilities, General Disclosures [Line Items]
Property insurance policy limit	$ 500
Retention for property damages	$ 1
Lawsuit claim filed | claim			1
Natural Disasters and Other Casualty Events | Subsequent Event
Public Utilities, General Disclosures [Line Items]
Expected funding amount				$ 150
Expected beneficiary amount				$ 1
Hawaiian Electric Company, Inc. and Subsidiaries
Public Utilities, General Disclosures [Line Items]
Percentage of electric service restored			95%
Hawaiian Electric Company, Inc. and Subsidiaries | Natural Disasters and Other Casualty Events
Public Utilities, General Disclosures [Line Items]
Committed contribution to humanitarian fund		$ 75	$ 75
Insurance reimbursement receivable		75	75
Maui Windstorm and Wildfires | Natural Disasters and Other Casualty Events
Public Utilities, General Disclosures [Line Items]
Incremental expenses			27.6
Maui Windstorm and Wildfires | Hawaiian Electric Company, Inc. and Subsidiaries | Natural Disasters and Other Casualty Events
Public Utilities, General Disclosures [Line Items]
Incremental expenses			$ 8
Maui Windstorm and Wildfires | Maui Wildfire Negligence
Public Utilities, General Disclosures [Line Items]
Legal expenses		10.8
Excess liability insurance		165
Excess liability insurance, retention amount		1.5
Maui Windstorm and Wildfires | Maui Wildfire Negligence | Hawaiian Electric Company, Inc. and Subsidiaries
Public Utilities, General Disclosures [Line Items]
Legal expenses		$ 6.3

Maui windstorm and wildfires _2

Maui windstorm and wildfires - Utilities Charged (Details) - Natural Disasters and Other Casualty Events - Hawaiian Electric Company, Inc. and Subsidiaries $ in Millions	Sep. 30, 2023 USD ($)
Public Utilities, General Disclosures [Line Items]
One 'Ohana Initiative contribution	$ 75
Insurance recovery	$ (75)

Segment financial information -

Segment financial information - Segment Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment financial information
Revenues	$ 901,873			$ 1,042,197			$ 2,725,795	$ 2,722,872
Income (loss) before income taxes	49,110			79,905			188,781	233,602
Income taxes (benefit)	7,521			17,352			36,915	48,395
Net income (loss)	41,589			62,553			151,866	185,207
Preferred stock dividends of Hawaiian Electric	471			471			1,417	1,417
Net income for common stock	41,118	$ 54,610	$ 54,721	62,082	$ 52,541	$ 69,167	150,449	183,790
Total assets	16,991,818						16,991,818		$ 16,284,244
Revenues from external customers and other sources
Segment financial information
Revenues								2,722,872
Intersegment revenues (eliminations)
Segment financial information
Revenues								0
Electric utility
Segment financial information
Revenues	794,987			955,971			2,419,539	2,483,636
Income (loss) before income taxes	55,415			63,712			175,391	179,771
Income taxes (benefit)	11,456			13,450			38,126	37,967
Net income (loss)	43,959			50,262			137,265	141,804
Preferred stock dividends of Hawaiian Electric	498			498			1,496	1,496
Net income for common stock	43,461			49,764			135,769	140,308
Total assets	7,078,447						7,078,447		6,597,467
Electric utility | Revenues from external customers and other sources
Segment financial information
Revenues								2,483,632
Electric utility | Intersegment revenues (eliminations)
Segment financial information
Revenues								4
Bank
Segment financial information
Revenues	100,974			81,411			291,716	231,850
Income (loss) before income taxes	12,749			27,281			61,511	79,605
Income taxes (benefit)	1,384			6,525			11,380	17,513
Net income (loss)	11,365			20,756			50,131	62,092
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income for common stock	11,365			20,756			50,131	62,092
Total assets	9,657,428						9,657,428		9,545,970
Bank | Revenues from external customers and other sources
Segment financial information
Revenues								231,850
Bank | Intersegment revenues (eliminations)
Segment financial information
Revenues								0
Other
Segment financial information
Revenues	5,912			4,815			14,540	7,386
Income (loss) before income taxes	(19,054)			(11,088)			(48,121)	(25,774)
Income taxes (benefit)	(5,319)			(2,623)			(12,591)	(7,085)
Net income (loss)	(13,735)			(8,465)			(35,530)	(18,689)
Preferred stock dividends of Hawaiian Electric	(27)			(27)			(79)	(79)
Net income for common stock	(13,708)			$ (8,438)			(35,451)	(18,610)
Total assets	$ 255,943						$ 255,943		$ 140,807
Other | Revenues from external customers and other sources
Segment financial information
Revenues								7,390
Other | Intersegment revenues (eliminations)
Segment financial information
Revenues								$ (4)

Electric utility segment - Unco

Electric utility segment - Unconsolidated Variable Interest Entities (Details)	9 Months Ended
	Sep. 30, 2023 entity agreement
Power purchase agreement
Number of IPPs (in entities) | entity	2
Hawaiian Electric Company
Power purchase agreement
Number of power purchase agreements (PPAs) (in agreements) | agreement	4

Electric utility segment - Powe

Electric utility segment - Power Purchase Agreements (Details) $ in Thousands		1 Months Ended				3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 21, 2023 MW	Oct. 31, 2021	Jul. 31, 2018 MW	Feb. 28, 2018 USD ($) agreement MW	May 31, 2012 MW	Sep. 30, 2023 USD ($) project	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) project	Sep. 30, 2022 USD ($)	Dec. 31, 1988 MW	Dec. 31, 2022 USD ($)
Regulatory Projects and Legal Obligations [Line Items]
Finance lease liabilities						$ 122,320		$ 122,320			$ 48,709
Kalaeloa
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, extension period (in years)		10 years
Stage 1 Renewable PPAs
Regulatory Projects and Legal Obligations [Line Items]
Number of power purchase agreements (PPAs) (in agreements) | agreement				8
Minimum power volume required (in megawatts) | MW	30			274.5
Estimated annual cost				$ 71,200
Long term purchase commitments, number of projects | project						3		3
Finance lease liabilities						$ 124,000		$ 124,000
Financing lease right-of-use assets						124,000		124,000
Total contracted PV capacity (in megawatts) | MW	120
Hu Honua Bioenergy, LLC
Regulatory Projects and Legal Obligations [Line Items]
Minimum power volume required (in megawatts) | MW					21.5
Molokai New Energy Partners
Regulatory Projects and Legal Obligations [Line Items]
Total contracted PV capacity (in megawatts) | MW			4.88
Total contracted battery energy storage system capacity | MW			3
Maximum power volume to be delivered (in megawatts) | MW			2.64
Hawaiian Electric, Parent
Regulatory Projects and Legal Obligations [Line Items]
Purchased power						178,000	$ 225,000	499,000	$ 607,000
Hawaiian Electric, Parent | Kalaeloa
Regulatory Projects and Legal Obligations [Line Items]
Purchased power						77,000	101,000	211,000	244,000
Increased power purchase commitment capacity (in megawatts) | MW										208
Hawaiian Electric, Parent | AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchased power						0	21,000	0	82,000
Hawaiian Electric, Parent | HPOWER
Regulatory Projects and Legal Obligations [Line Items]
Purchased power						17,000	18,000	51,000	56,000
Hawaiian Electric, Parent | Hamakua Energy
Regulatory Projects and Legal Obligations [Line Items]
Purchased power						13,000	16,000	52,000	46,000
Hawaiian Electric, Parent | Puna Geothermal Venture
Regulatory Projects and Legal Obligations [Line Items]
Purchased power						7,000	13,000	24,000	37,000
Hawaiian Electric, Parent | Wind IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power						42,000	37,000	99,000	93,000
Hawaiian Electric, Parent | Solar IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power						21,000	18,000	57,000	44,000
Hawaiian Electric, Parent | Other IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power						$ 1,000	$ 1,000	$ 5,000	$ 5,000

Electric utility segment - Util

Electric utility segment - Utility Projects (Details) $ in Millions		9 Months Ended	12 Months Ended
	Sep. 01, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 30, 2021 USD ($)	Oct. 31, 2020 transmission_line generationUnit kV
Public Utilities, General Disclosures [Line Items]
Environmental loss contingency, statement of financial position, not disclosed		reserve account balance
Maui Electric
Public Utilities, General Disclosures [Line Items]
Additional accrued investigation and estimated cleanup costs		$ 2.6
Hawaiian Electric, Parent | PCB Contamination
Public Utilities, General Disclosures [Line Items]
Valuation allowances and reserves		9.7
Hawaiian Electric, Parent | Kapolei Petroleum Contamination | James Campbell Company
Public Utilities, General Disclosures [Line Items]
Environmental remediation expense	$ 1.2		$ 0.8
Waena Switchyard/Synchronous Condenser Project | Hawaiian Electric Company, Inc. and Subsidiaries
Public Utilities, General Disclosures [Line Items]
Number of extended transmission lines | transmission_line					2
Number of kilovolts | kV					69
Number of generating units converting to synchronous condensers | generationUnit					2
Renewable energy generation project, approved funds				$ 38.8
Renewable energy generation project, incurred cost		$ 24.7

Electric utility segment - Regu

Electric utility segment - Regulatory Proceedings (Details) $ in Thousands

1 Months Ended

3 Months Ended

4 Months Ended

9 Months Ended

12 Months Ended

Jun. 09, 2022 USD ($)

Feb. 16, 2021 agreement

Dec. 23, 2020 USD ($)

Sep. 15, 2020 agreement

Sep. 30, 2023 USD ($) agreement contract project

Jun. 30, 2022 USD ($)

Nov. 30, 2021 agreement

Nov. 30, 2021 entity

Mar. 31, 2023 agreement

Sep. 30, 2023 USD ($) MWh project contract

Dec. 31, 2022 USD ($)

Dec. 31, 2019 USD ($) agreement

Feb. 28, 2023 USD ($)

Jun. 17, 2022 mechanism

Dec. 31, 2021 USD ($)

Jun. 01, 2021 mechanism

Mar. 23, 2021 mechanism

Dec. 31, 2020 entity

Jul. 09, 2020 agreement

Jun. 10, 2019 USD ($)

Oct. 31, 2018 USD ($)

Regulatory Projects and Legal Obligations [Line Items]

PUC proposal period (in days)

45 days

Public utilities, modified pilot process proposal period (in days)

15 days

Propose pilots annual cap

$ 10,000

Potential total annual maximum reward

$ 2,000

$ 2,000

Advanced metering infrastructure term (in years)

3 years

Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

Number of performance incentive mechanisms | mechanism

2

3

2

Multi-year rate period (in years)

5 years

Customer dividend, negative adjustment percentage

0.22%

Savings commitment liability, annual rate

$ 6,600

Recovery of deferral costs

$ 27,800

$ 27,800

Recovery of deferral costs period (in years)

3 years

3 years

Earnings sharing mechanism, actual return on equity, dead band percentage above or below target

3%

Approved return on equity, percentage

9.50%

Percentage sharing between customers and utilities

50

Earnings sharing mechanism, actual earning, above or below dead band

1.50%

Percentage sharing for any further difference

90

MPIR and EPRM requested amount

$ 31,100

EPRM approved projects | contract

2

2

EPRM approved projects, capital costs

$ 41,000

Number of projects | project

5

5

Estimated capital costs

$ 488,000

2022 deferred cost recovery approved

$ 400

Decoupling order, service reliability performance, historical measurement period (in years)

10 years

Maximum penalty, percent of ROE

0.20%

Service reliability, pending adjusted maximum penalty amount

$ 6,800

Service reliability, estimated penalties

$ 100

Dead band percentage above or below the target

3%

Call center performance, maximum penalty percentage

0.08%

Call center performance, pending adjusted maximum penalty

$ 1,400

Number of power purchase agreements (PPAs) (in agreements) | agreement

1

1

1

7

Incentives accrued

$ 100

$ 100

$ 1,700

$ 100

Number of grid service purchase agreements | agreement

2

Number of PPAs approved

2

2

Number of GSPAs approved | entity

2

Number of power purchase agreements terminated | agreement

2

Interpolated RPS rate goal, year one and two (in dollars per MWh) | MWh

20

Interpolated RPS rate goal, year three (in dollars per MWh) | MWh

15

Interpolated RPS rate goal, after year three (in dollars per MWh) | MWh

10

Failure to meet RPS targets, penalty rate (in dollars per MWh) | MWh

20

Potential total annual maximum reward

1,500

$ 1,500

Public utilities, grid services procurement performance incentive mechanism, accrued estimated rewards

40

Potential total annual maximum reward

3,000

3,000

Total annual maximum penalty

900

900

Interconnection approval PIM, accrued estimated rewards

3,000

Performance incentive mechanism, maximum reward

$ 2,000

$ 2,000

Performance incentive mechanism, term (in years)

3 years

Performance incentive mechanism, accrued estimated rewards

$ 500

Target performance historical measurement period (in years)

10 years

Percent of return on equity

0.03%

Pending adjusted amount

$ 1,000

Target performance period (in months)

10 months

Target deadband period (in months)

2 months

Accrued earned rewards, net of penalties

3,400

Hawaiian Electric Company, Inc. and Subsidiaries | COVID-19

Regulatory Projects and Legal Obligations [Line Items]

Public utilities in regulatory assets

$ 8,800

Hawaiian Electric, Parent

Regulatory Projects and Legal Obligations [Line Items]

Public utilities retained percentage

20%

Accrued earned rewards, net of penalties

2,500

Hawaii Electric Light Company, Inc

Regulatory Projects and Legal Obligations [Line Items]

Accrued earned rewards, net of penalties

400

Maui Electric

Regulatory Projects and Legal Obligations [Line Items]

Accrued earned rewards, net of penalties

$ 500

Schofield Generation Station | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

$ 16,500

West Loch PV Project | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

3,300

Grid Modernization Strategy Phase 1 Project | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

11,200

Waiawa UFLS Project | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

EPRM requested amount

$ 100

ERP/EAM Implementation Project | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

ERP/EAM project service period (in years)

12 years

ERP/EAM project service, savings over 12 years

$ 246,000

Future O&M expense reductions

$ 150,000

Future cost avoidance related to capital cost and tax costs

$ 96,000

Regulatory liability, amortization period (in years)

5 years

5 years

Regulatory liability for O&M expense reductions

$ 11,900

$ 11,900

ERP/EAM Implementation Project | Hawaiian Electric, Parent

Regulatory Projects and Legal Obligations [Line Items]

Regulatory liability for O&M expense reductions

3,000

3,000

ERP/EAM Implementation Project | Hawaii Electric Light Company, Inc

Regulatory Projects and Legal Obligations [Line Items]

Regulatory liability for O&M expense reductions

3,500

3,500

ERP/EAM Implementation Project | Maui Electric

Regulatory Projects and Legal Obligations [Line Items]

Regulatory liability for O&M expense reductions

$ 5,400

$ 5,400

Electric utility segment - Annu

Electric utility segment - Annual Decoupling Filings Summary (Details) - USD ($) $ in Millions		9 Months Ended
	Oct. 31, 2023	Sep. 30, 2023
Regulatory Projects and Legal Obligations [Line Items]
Incremental RAM revenues and ARA revenues		$ 24.9
Annual change in accrued RBA balance through September 30, 2023 (and associated revenue taxes)		3.4
Incremental Performance Incentive Mechanisms (net)		0.1
Net incremental amount to be collected under the RBA rate tariffs		28.4
Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2024 ARA revenues	$ 24.7
Management Audit savings commitment	(6.6)
Enterprise Resource Planning system benefits savings	(3.2)
COVID-19 related cost recovery	3.4
Net 2024 ARA revenues	18.3
Hawaiian Electric, Parent
Regulatory Projects and Legal Obligations [Line Items]
Incremental RAM revenues and ARA revenues		19.2
Annual change in accrued RBA balance through September 30, 2023 (and associated revenue taxes)		3.6
Incremental Performance Incentive Mechanisms (net)		0.1
Net incremental amount to be collected under the RBA rate tariffs		22.9
Hawaiian Electric, Parent | Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2024 ARA revenues	16.6
Management Audit savings commitment	(4.6)
Enterprise Resource Planning system benefits savings	0
COVID-19 related cost recovery	2.6
Net 2024 ARA revenues	14.6
Hawaii Electric Light
Regulatory Projects and Legal Obligations [Line Items]
Incremental RAM revenues and ARA revenues		3
Annual change in accrued RBA balance through September 30, 2023 (and associated revenue taxes)		(0.3)
Incremental Performance Incentive Mechanisms (net)		0
Net incremental amount to be collected under the RBA rate tariffs		2.7
Hawaii Electric Light | Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2024 ARA revenues	4.1
Management Audit savings commitment	(1)
Enterprise Resource Planning system benefits savings	(1.3)
COVID-19 related cost recovery	0.2
Net 2024 ARA revenues	2
Maui Electric
Regulatory Projects and Legal Obligations [Line Items]
Incremental RAM revenues and ARA revenues		2.7
Annual change in accrued RBA balance through September 30, 2023 (and associated revenue taxes)		0.1
Incremental Performance Incentive Mechanisms (net)		0
Net incremental amount to be collected under the RBA rate tariffs		$ 2.8
Maui Electric | Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2024 ARA revenues	4
Management Audit savings commitment	(1)
Enterprise Resource Planning system benefits savings	(1.9)
COVID-19 related cost recovery	0.6
Net 2024 ARA revenues	$ 1.7

Electric utility segment - Re_2

Electric utility segment - Regulatory Assets for COVID-19 Related Costs (Details) - Hawaiian Electric Company, Inc. and Subsidiaries - USD ($) $ in Millions		1 Months Ended		9 Months Ended
	Jun. 09, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2023
Regulatory Projects and Legal Obligations [Line Items]
Recovery of deferral costs	$ 27.8	$ 27.8
Recovery of deferral costs period (in years)	3 years	3 years
COVID-19
Regulatory Projects and Legal Obligations [Line Items]
Customer bill forgiveness			$ 2
Public utilities in regulatory assets				$ 8.8

Electric utility segment - Re_3

Electric utility segment - Regulatory Assets for Suspension of Disconnections Related Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Regulatory Projects and Legal Obligations [Line Items]
Regulatory assets	$ 231,197	$ 242,513
Hawaiian Electric Company, Inc. and Subsidiaries | Suspension Of Disconnections
Regulatory Projects and Legal Obligations [Line Items]
Regulatory assets	$ 100

Electric utility segment - Army

Electric utility segment - Army Privatization (Details) - Hawaiian Electric Company, Inc. and Subsidiaries $ in Millions	Mar. 01, 2022 USD ($)	Oct. 30, 2020 USD ($) installation
Regulatory Projects and Legal Obligations [Line Items]
Public utilities, electric distribution system, contract period (in years)	50 years	50 years
Number of U.S. army installations being serviced | installation		12
Purchase price	$ 14.5
price of acquisition, expected		$ 4
Transition period (in years)	1 year
Capital upgrade over the period (in years)	6 years

Electric utility segment - Cond

Electric utility segment - Condensed Consolidating Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Condensed Income Statements, Captions [Line Items]
Revenues	$ 901,873			$ 1,042,197			$ 2,725,795	$ 2,722,872
Expenses
Total expenses	826,762			940,082			2,464,187	2,434,813
Operating income (loss)	75,111			102,115			261,608	288,059
Allowance for equity funds used during construction	4,000			2,552			11,073	7,431
Retirement defined benefits credit (expense)—other than service costs	1,256			1,039			3,561	3,528
Allowance for borrowed funds used during construction	1,372			825			3,798	2,401
Income (loss) before income taxes	49,110			79,905			188,781	233,602
Income taxes	7,521			17,352			36,915	48,395
Net income (loss)	41,589			62,553			151,866	185,207
Preferred stock dividends of Hawaiian Electric	471			471			1,417	1,417
Net income for common stock	41,118	$ 54,610	$ 54,721	62,082	$ 52,541	$ 69,167	150,449	183,790
Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	794,987			955,971			2,419,539	2,483,636
Expenses
Fuel oil	267,438			383,602			881,692	874,543
Purchased power	177,795			225,209			498,990	606,827
Other operation and maintenance	142,508			121,110			407,184	371,259
Depreciation	61,165			58,711			182,781	175,921
Taxes, other than income taxes	74,723			88,290			228,034	231,288
Total expenses	723,629			876,922			2,198,681	2,259,838
Operating income (loss)	71,358			79,049			220,858	223,798
Allowance for equity funds used during construction	4,000			2,552			11,073	7,431
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit (expense)—other than service costs	1,132			895			3,227	2,876
Interest expense and other charges, net	(22,447)			(19,609)			(63,565)	(56,735)
Allowance for borrowed funds used during construction	1,372			825			3,798	2,401
Income (loss) before income taxes	55,415			63,712			175,391	179,771
Income taxes	11,456			13,450			38,126	37,967
Net income	43,959			50,262			137,265	141,804
Preferred stock dividends of subsidiaries	228			228			686	686
Net income (loss)	43,731			50,034			136,579	141,118
Preferred stock dividends of Hawaiian Electric	270			270			810	810
Net income for common stock	43,461	$ 45,299	$ 47,009	49,764	$ 44,135	$ 46,409	135,769	140,308
Consolidating adjustments | Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	0			(78)			(130)	(113)
Expenses
Fuel oil	0			0			0	0
Purchased power	0			0			0	0
Other operation and maintenance	0			0			0	0
Depreciation	0			0			0	0
Taxes, other than income taxes	0			0			0	0
Total expenses	0			0			0	0
Operating income (loss)	0			(78)			(130)	(113)
Allowance for equity funds used during construction	0			0			0	0
Equity in earnings of subsidiaries	(3,005)			(10,577)			(25,960)	(36,475)
Retirement defined benefits credit (expense)—other than service costs	0			0			0	0
Interest expense and other charges, net	0			78			130	113
Allowance for borrowed funds used during construction	0			0			0	0
Income (loss) before income taxes	(3,005)			(10,577)			(25,960)	(36,475)
Income taxes	0			0			0	0
Net income	(3,005)			(10,577)			(25,960)	(36,475)
Preferred stock dividends of subsidiaries	0			0			0	0
Net income (loss)	(3,005)			(10,577)			(25,960)	(36,475)
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income for common stock	(3,005)			(10,577)			(25,960)	(36,475)
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	570,323			693,281			1,742,542	1,769,995
Expenses
Fuel oil	196,223			280,447			663,521	619,169
Purchased power	132,536			171,470			362,275	460,855
Other operation and maintenance	83,528			77,115			255,728	243,478
Depreciation	41,276			39,474			123,114	118,459
Taxes, other than income taxes	53,511			64,051			164,510	165,350
Total expenses	507,074			632,557			1,569,148	1,607,311
Operating income (loss)	63,249			60,724			173,394	162,684
Allowance for equity funds used during construction	3,005			2,063			8,604	5,999
Equity in earnings of subsidiaries	3,005			10,577			25,960	36,475
Retirement defined benefits credit (expense)—other than service costs	992			760			2,801	2,471
Interest expense and other charges, net	(16,295)			(14,221)			(45,594)	(40,833)
Allowance for borrowed funds used during construction	1,047			674			2,995	1,962
Income (loss) before income taxes	55,003			60,577			168,160	168,758
Income taxes	11,272			10,543			31,581	27,640
Net income	43,731			50,034			136,579	141,118
Preferred stock dividends of subsidiaries	0			0			0	0
Net income (loss)	43,731			50,034			136,579	141,118
Preferred stock dividends of Hawaiian Electric	270			270			810	810
Net income for common stock	43,461			49,764			135,769	140,308
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	116,192			130,858			343,554	363,888
Expenses
Fuel oil	30,956			40,540			79,187	98,856
Purchased power	30,265			37,263			101,597	106,710
Other operation and maintenance	21,351			21,882			64,367	63,427
Depreciation	10,635			10,350			31,906	31,053
Taxes, other than income taxes	10,857			12,026			31,983	33,436
Total expenses	104,064			122,061			309,040	333,482
Operating income (loss)	12,128			8,797			34,514	30,406
Allowance for equity funds used during construction	366			206			1,004	616
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit (expense)—other than service costs	163			166			500	500
Interest expense and other charges, net	(2,988)			(2,716)			(8,794)	(7,967)
Allowance for borrowed funds used during construction	117			63			321	190
Income (loss) before income taxes	9,786			6,516			27,545	23,745
Income taxes	2,234			1,424			6,261	5,351
Net income	7,552			5,092			21,284	18,394
Preferred stock dividends of subsidiaries	133			133			400	400
Net income (loss)	7,419			4,959			20,884	17,994
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income for common stock	7,419			4,959			20,884	17,994
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	108,472			131,910			333,573	349,866
Expenses
Fuel oil	40,259			62,615			138,984	156,518
Purchased power	14,994			16,476			35,118	39,262
Other operation and maintenance	37,629			22,113			87,089	64,354
Depreciation	9,254			8,887			27,761	26,409
Taxes, other than income taxes	10,355			12,213			31,541	32,502
Total expenses	112,491			122,304			320,493	319,045
Operating income (loss)	(4,019)			9,606			13,080	30,821
Allowance for equity funds used during construction	629			283			1,465	816
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit (expense)—other than service costs	(23)			(31)			(74)	(95)
Interest expense and other charges, net	(3,164)			(2,750)			(9,307)	(8,048)
Allowance for borrowed funds used during construction	208			88			482	249
Income (loss) before income taxes	(6,369)			7,196			5,646	23,743
Income taxes	(2,050)			1,483			284	4,976
Net income	(4,319)			5,713			5,362	18,767
Preferred stock dividends of subsidiaries	95			95			286	286
Net income (loss)	(4,414)			5,618			5,076	18,481
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income for common stock	(4,414)			5,618			5,076	18,481
Other subsidiary | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	0			0			0	0
Expenses
Fuel oil	0			0			0	0
Purchased power	0			0			0	0
Other operation and maintenance	0			0			0	0
Depreciation	0			0			0	0
Taxes, other than income taxes	0			0			0	0
Total expenses	0			0			0	0
Operating income (loss)	0			0			0	0
Allowance for equity funds used during construction	0			0			0	0
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit (expense)—other than service costs	0			0			0	0
Interest expense and other charges, net	0			0			0	0
Allowance for borrowed funds used during construction	0			0			0	0
Income (loss) before income taxes	0			0			0	0
Income taxes	0			0			0	0
Net income	0			0			0	0
Preferred stock dividends of subsidiaries	0			0			0	0
Net income (loss)	0			0			0	0
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income for common stock	$ 0			$ 0			$ 0	$ 0

Electric utility segment - Co_2

Electric utility segment - Condensed Consolidating Statement of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	$ 41,118	$ 54,610	$ 54,721	$ 62,082	$ 52,541	$ 69,167	$ 150,449	$ 183,790
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes	(446)			5,606			(1,160)	10,229
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	470			(5,303)			1,321	(9,572)
Other comprehensive income (loss), net of taxes	(34,875)	(7,609)	20,488	(96,012)	(87,840)	(117,159)	(21,996)	(301,011)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	6,243			(33,930)			128,453	(117,221)
Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	43,461	45,299	47,009	49,764	44,135	46,409	135,769	140,308
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes	(547)			5,411			(1,487)	9,782
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	470			(5,303)			1,321	(9,572)
Other comprehensive income (loss), net of taxes	(77)	$ (44)	$ (45)	108	$ 51	$ 51	(166)	210
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	43,384			49,872			135,603	140,518
Consolidating adjustments | Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	(3,005)			(10,577)			(25,960)	(36,475)
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes	126			(1,500)			366	(3,304)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(117)			1,499			(334)	3,300
Other comprehensive income (loss), net of taxes	9			(1)			32	(4)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(2,996)			(10,578)			(25,928)	(36,479)
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	43,461			49,764			135,769	140,308
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes	(547)			5,411			(1,487)	9,782
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	470			(5,303)			1,321	(9,572)
Other comprehensive income (loss), net of taxes	(77)			108			(166)	210
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	43,384			49,872			135,603	140,518
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	7,419			4,959			20,884	17,994
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes	(55)			768			(166)	1,366
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	54			(766)			157	(1,362)
Other comprehensive income (loss), net of taxes	(1)			2			(9)	4
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	7,418			4,961			20,875	17,998
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	(4,414)			5,618			5,076	18,481
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes	(71)			732			(200)	1,938
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	63			(733)			177	(1,938)
Other comprehensive income (loss), net of taxes	(8)			(1)			(23)	0
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(4,422)			5,617			5,053	18,481
Other subsidiary | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	0			0			0	0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes	0			0			0
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	0			0			0
Other comprehensive income (loss), net of taxes	0			0			0	0
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ 0			$ 0			$ 0	$ 0

Electric utility segment - Co_3

Electric utility segment - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Utility property, plant and equipment
Total property, plant and equipment, net	$ 5,917,342			$ 5,687,003
Current assets
Cash and cash equivalents	667,129			199,877	$ 175,280
Restricted cash	15,164			5,050	3,898
Other long-term assets
Operating lease right-of-use assets	99,466			115,684
Total assets	16,991,818			16,284,244
Capitalization
Common stock equity	2,224,354	$ 2,249,377	$ 2,237,955	2,202,499	2,162,922	$ 2,233,504	$ 2,303,642	$ 2,390,884
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293			34,293
Current liabilities
Short-term borrowings	0			172,568
Interest and dividends payable	57,901			21,333
Deferred credits and other liabilities
Deferred income taxes	258,942			262,462
Total liabilities and shareholders’ equity	16,991,818			16,284,244
Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	52,098			52,060
Plant and equipment	8,199,828			7,979,510
Financing lease right-of-use assets	124,372			48,371
Less accumulated depreciation	(3,222,030)			(3,086,499)
Construction in progress	357,289			275,353
Utility property, plant and equipment, net	5,511,557			5,268,795
Nonutility property, plant and equipment, less accumulated depreciation	6,942			6,945
Total property, plant and equipment, net	5,518,499			5,275,740
Investment in wholly owned subsidiaries, at equity	0			0
Current assets
Cash and cash equivalents	274,854			39,242	21,304
Restricted cash	2,000			0	0
Advances to affiliates				0
Customer accounts receivable, net	241,762			288,338
Accrued unbilled revenues, net	179,327			183,280
Other accounts receivable, net	89,823			13,567
Fuel oil stock, at average cost	152,768			191,530
Materials and supplies, at average cost	99,526			79,568
Prepayments and other	54,538			33,482
Regulatory assets	57,921			52,273
Total current assets	1,152,519			881,280
Other long-term assets
Operating lease right-of-use assets	76,061			89,318
Regulatory assets	173,276			190,240
Other	158,092			160,889
Total other long-term assets	407,429			440,447
Total assets	7,078,447			6,597,467
Capitalization
Common stock equity	2,383,023	$ 2,371,889	$ 2,358,884	2,344,170	2,307,992	$ 2,289,595	$ 2,276,884	2,261,899
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293			34,293
Long-term debt, net	1,934,044			1,584,854
Total capitalization	4,351,360			3,963,317
Current liabilities
Current portion of operating lease liabilities	17,012			19,095
Current portion of long-term debt	99,996			99,962
Accounts payable	201,699			202,492
Interest and dividends payable	30,058			17,176
Taxes accrued, including revenue taxes	274,272			289,902
Regulatory liabilities	26,325			31,475
Other	163,307			85,596
Total current liabilities	812,669			833,665
Deferred credits and other liabilities
Operating lease liabilities	66,299			78,715
Finance lease liabilities	118,140			46,048
Deferred income taxes	385,675			384,430
Regulatory liabilities	1,075,449			1,024,175
Unamortized tax credits	89,747			95,300
Defined benefit pension liability	48,884			49,748
Other	130,224			122,069
Total deferred credits and other liabilities	1,914,418			1,800,485
Total liabilities and shareholders’ equity	7,078,447			6,597,467
Hawaiian Electric Consolidated | Nonrelated Party
Current liabilities
Short-term borrowings	0			87,967
Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings				0
Consolidating adjustments | Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	0			0
Plant and equipment	0			0
Financing lease right-of-use assets	0			0
Less accumulated depreciation	0			0
Construction in progress	0			0
Utility property, plant and equipment, net	0			0
Nonutility property, plant and equipment, less accumulated depreciation	0			0
Total property, plant and equipment, net	0			0
Investment in wholly owned subsidiaries, at equity	(703,311)			(701,833)
Current assets
Cash and cash equivalents	0			0	0
Restricted cash	0
Advances to affiliates				(26,200)
Customer accounts receivable, net	0			0
Accrued unbilled revenues, net	0			0
Other accounts receivable, net	(44,577)			(22,384)
Fuel oil stock, at average cost	0			0
Materials and supplies, at average cost	0			0
Prepayments and other	0			(1,041)
Regulatory assets	0			0
Total current assets	(44,577)			(49,625)
Other long-term assets
Operating lease right-of-use assets	0			0
Regulatory assets	0			0
Other	(16,988)			(16,288)
Total other long-term assets	(16,988)			(16,288)
Total assets	(764,876)			(767,746)
Capitalization
Common stock equity	(703,311)			(701,833)	(689,016)			(676,237)
Preferred stock of subsidiaries - not subject to mandatory redemption	0			0
Long-term debt, net	0			0
Total capitalization	(703,311)			(701,833)
Current liabilities
Current portion of operating lease liabilities	0			0
Current portion of long-term debt	0			0
Accounts payable	0			0
Interest and dividends payable	0			(80)
Taxes accrued, including revenue taxes	0			(1,041)
Regulatory liabilities	0			0
Other	(44,577)			(22,304)
Total current liabilities	(44,577)			(49,625)
Deferred credits and other liabilities
Operating lease liabilities	0			0
Finance lease liabilities	0			0
Deferred income taxes	0			0
Regulatory liabilities	0			0
Unamortized tax credits	0			0
Defined benefit pension liability	(16,988)			(16,288)
Other	0			0
Total deferred credits and other liabilities	(16,988)			(16,288)
Total liabilities and shareholders’ equity	(764,876)			(767,746)
Consolidating adjustments | Hawaiian Electric Consolidated | Nonrelated Party
Current liabilities
Short-term borrowings				0
Consolidating adjustments | Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings				(26,200)
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	42,859			42,860
Plant and equipment	5,422,393			5,260,685
Financing lease right-of-use assets	88,297			48,371
Less accumulated depreciation	(1,953,609)			(1,855,150)
Construction in progress	258,204			215,560
Utility property, plant and equipment, net	3,858,144			3,712,326
Nonutility property, plant and equipment, less accumulated depreciation	5,295			5,298
Total property, plant and equipment, net	3,863,439			3,717,624
Investment in wholly owned subsidiaries, at equity	703,311			701,833
Current assets
Cash and cash equivalents	233,518			27,579	13,295
Restricted cash	2,000
Advances to affiliates				0
Customer accounts receivable, net	172,730			216,802
Accrued unbilled revenues, net	132,552			136,508
Other accounts receivable, net	115,498			23,746
Fuel oil stock, at average cost	112,468			153,342
Materials and supplies, at average cost	58,834			48,130
Prepayments and other	41,304			24,040
Regulatory assets	49,489			46,504
Total current assets	918,393			676,651
Other long-term assets
Operating lease right-of-use assets	36,627			42,752
Regulatory assets	146,735			154,040
Other	112,601			115,028
Total other long-term assets	295,963			311,820
Total assets	5,781,106			5,407,928
Capitalization
Common stock equity	2,383,023			2,344,170	2,307,992			2,261,899
Preferred stock of subsidiaries - not subject to mandatory redemption	22,293			22,293
Long-term debt, net	1,426,353			1,126,915
Total capitalization	3,831,669			3,493,378
Current liabilities
Current portion of operating lease liabilities	7,308			9,775
Current portion of long-term debt	49,998			49,981
Accounts payable	141,738			143,253
Interest and dividends payable	21,304			12,398
Taxes accrued, including revenue taxes	196,037			207,798
Regulatory liabilities	9,999			13,145
Other	148,400			64,659
Total current liabilities	574,784			615,176
Deferred credits and other liabilities
Operating lease liabilities	35,967			41,049
Finance lease liabilities	82,935			46,048
Deferred income taxes	274,577			271,234
Regulatory liabilities	770,268			729,683
Unamortized tax credits	65,153			69,614
Defined benefit pension liability	65,872			65,907
Other	79,881			75,839
Total deferred credits and other liabilities	1,374,653			1,299,374
Total liabilities and shareholders’ equity	5,781,106			5,407,928
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated | Nonrelated Party
Current liabilities
Short-term borrowings				87,967
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings				26,200
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	5,645			5,606
Plant and equipment	1,448,183			1,425,442
Financing lease right-of-use assets	36,075			0
Less accumulated depreciation	(663,303)			(644,457)
Construction in progress	35,281			23,989
Utility property, plant and equipment, net	861,881			810,580
Nonutility property, plant and equipment, less accumulated depreciation	115			115
Total property, plant and equipment, net	861,996			810,695
Investment in wholly owned subsidiaries, at equity	0			0
Current assets
Cash and cash equivalents	32,716			5,092	5,154
Restricted cash	0
Advances to affiliates				4,500
Customer accounts receivable, net	34,550			39,339
Accrued unbilled revenues, net	22,062			23,839
Other accounts receivable, net	7,124			5,519
Fuel oil stock, at average cost	14,400			16,964
Materials and supplies, at average cost	13,077			9,783
Prepayments and other	5,468			6,346
Regulatory assets	5,110			2,435
Total current assets	134,507			113,817
Other long-term assets
Operating lease right-of-use assets	29,193			34,283
Regulatory assets	14,583			21,816
Other	33,011			32,654
Total other long-term assets	76,787			88,753
Total assets	1,073,290			1,013,265
Capitalization
Common stock equity	352,170			344,720	338,598			332,900
Preferred stock of subsidiaries - not subject to mandatory redemption	7,000			7,000
Long-term debt, net	249,308			224,439
Total capitalization	608,478			576,159
Current liabilities
Current portion of operating lease liabilities	6,942			6,690
Current portion of long-term debt	19,999			19,992
Accounts payable	25,436			32,113
Interest and dividends payable	3,924			2,576
Taxes accrued, including revenue taxes	40,706			42,436
Regulatory liabilities	6,842			8,553
Other	23,182			20,856
Total current liabilities	127,031			133,216
Deferred credits and other liabilities
Operating lease liabilities	22,575			27,817
Finance lease liabilities	35,205			0
Deferred income taxes	50,405			50,615
Regulatory liabilities	197,045			194,222
Unamortized tax credits	12,410			13,150
Defined benefit pension liability	0			129
Other	20,141			17,957
Total deferred credits and other liabilities	337,781			303,890
Total liabilities and shareholders’ equity	1,073,290			1,013,265
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated | Nonrelated Party
Current liabilities
Short-term borrowings				0
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings				0
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	3,594			3,594
Plant and equipment	1,329,252			1,293,383
Financing lease right-of-use assets	0			0
Less accumulated depreciation	(605,118)			(586,892)
Construction in progress	63,804			35,804
Utility property, plant and equipment, net	791,532			745,889
Nonutility property, plant and equipment, less accumulated depreciation	1,532			1,532
Total property, plant and equipment, net	793,064			747,421
Investment in wholly owned subsidiaries, at equity	0			0
Current assets
Cash and cash equivalents	8,543			6,494	2,778
Restricted cash	0
Advances to affiliates				21,700
Customer accounts receivable, net	34,482			32,197
Accrued unbilled revenues, net	24,713			22,933
Other accounts receivable, net	11,778			6,686
Fuel oil stock, at average cost	25,900			21,224
Materials and supplies, at average cost	27,615			21,655
Prepayments and other	7,766			4,137
Regulatory assets	3,322			3,334
Total current assets	144,119			140,360
Other long-term assets
Operating lease right-of-use assets	10,241			12,283
Regulatory assets	11,958			14,384
Other	29,468			29,495
Total other long-term assets	51,667			56,162
Total assets	988,850			943,943
Capitalization
Common stock equity	351,064			357,036	350,341			343,260
Preferred stock of subsidiaries - not subject to mandatory redemption	5,000			5,000
Long-term debt, net	258,383			233,500
Total capitalization	614,447			595,536
Current liabilities
Current portion of operating lease liabilities	2,762			2,630
Current portion of long-term debt	29,999			29,989
Accounts payable	34,525			27,126
Interest and dividends payable	4,830			2,282
Taxes accrued, including revenue taxes	37,529			40,709
Regulatory liabilities	9,484			9,777
Other	36,302			22,385
Total current liabilities	155,431			134,898
Deferred credits and other liabilities
Operating lease liabilities	7,757			9,849
Finance lease liabilities	0			0
Deferred income taxes	60,693			62,581
Regulatory liabilities	108,136			100,270
Unamortized tax credits	12,184			12,536
Defined benefit pension liability	0			0
Other	30,202			28,273
Total deferred credits and other liabilities	218,972			213,509
Total liabilities and shareholders’ equity	988,850			943,943
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated | Nonrelated Party
Current liabilities
Short-term borrowings				0
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings				0
Other subsidiary | Reportable Legal Entities | Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	0			0
Plant and equipment	0			0
Financing lease right-of-use assets	0			0
Less accumulated depreciation	0			0
Construction in progress	0			0
Utility property, plant and equipment, net	0			0
Nonutility property, plant and equipment, less accumulated depreciation	0			0
Total property, plant and equipment, net	0			0
Investment in wholly owned subsidiaries, at equity	0			0
Current assets
Cash and cash equivalents	77			77	77
Restricted cash	0
Advances to affiliates				0
Customer accounts receivable, net	0			0
Accrued unbilled revenues, net	0			0
Other accounts receivable, net	0			0
Fuel oil stock, at average cost	0			0
Materials and supplies, at average cost	0			0
Prepayments and other	0			0
Regulatory assets	0			0
Total current assets	77			77
Other long-term assets
Operating lease right-of-use assets	0			0
Regulatory assets	0			0
Other	0			0
Total other long-term assets	0			0
Total assets	77			77
Capitalization
Common stock equity	77			77	$ 77			$ 77
Preferred stock of subsidiaries - not subject to mandatory redemption	0			0
Long-term debt, net	0			0
Total capitalization	77			77
Current liabilities
Current portion of operating lease liabilities	0			0
Current portion of long-term debt	0			0
Accounts payable	0			0
Interest and dividends payable	0			0
Taxes accrued, including revenue taxes	0			0
Regulatory liabilities	0			0
Other	0			0
Total current liabilities	0			0
Deferred credits and other liabilities
Operating lease liabilities	0			0
Finance lease liabilities	0			0
Deferred income taxes	0			0
Regulatory liabilities	0			0
Unamortized tax credits	0			0
Defined benefit pension liability	0			0
Other	0			0
Total deferred credits and other liabilities	0			0
Total liabilities and shareholders’ equity	$ 77			77
Other subsidiary | Reportable Legal Entities | Hawaiian Electric Consolidated | Nonrelated Party
Current liabilities
Short-term borrowings				0
Other subsidiary | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings				$ 0

Electric utility segment - Co_4

Electric utility segment - Condensed Consolidating Statement of Changes in Common Stock Equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Increase (decrease) in stockholders' equity
Beginning balance	$ 2,249,377	$ 2,237,955	$ 2,202,499	$ 2,233,504	$ 2,303,642	$ 2,390,884	$ 2,202,499	$ 2,390,884
Net income for common stock	41,118	54,610	54,721	62,082	52,541	69,167	150,449	183,790
Other comprehensive loss, net of taxes	(34,875)	(7,609)	20,488	(96,012)	(87,840)	(117,159)	(21,996)	(301,011)
Common stock dividends	(39,455)	(39,447)	(39,446)	(38,315)	(38,301)	(38,301)
Ending balance	2,224,354	2,249,377	2,237,955	2,162,922	2,233,504	2,303,642	2,224,354	2,162,922
Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance	2,371,889	2,358,884	2,344,170	2,289,595	2,276,884	2,261,899	2,344,170	2,261,899
Net income for common stock	43,461	45,299	47,009	49,764	44,135	46,409	135,769	140,308
Other comprehensive loss, net of taxes	(77)	(44)	(45)	108	51	51	(166)	210
Common stock dividends	(32,250)	(32,250)	(32,250)	(31,475)	(31,475)	(31,475)	(96,750)	(94,425)
Ending balance	2,383,023	$ 2,371,889	2,358,884	2,307,992	$ 2,289,595	2,276,884	2,383,023	2,307,992
Consolidating adjustments | Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance			(701,833)			(676,237)	(701,833)	(676,237)
Net income for common stock	(3,005)			(10,577)			(25,960)	(36,475)
Other comprehensive loss, net of taxes	9			(1)			32	(4)
Common stock dividends							24,450	23,700
Ending balance	(703,311)			(689,016)			(703,311)	(689,016)
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance			2,344,170			2,261,899	2,344,170	2,261,899
Net income for common stock	43,461			49,764			135,769	140,308
Other comprehensive loss, net of taxes	(77)			108			(166)	210
Common stock dividends							(96,750)	(94,425)
Ending balance	2,383,023			2,307,992			2,383,023	2,307,992
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance			344,720			332,900	344,720	332,900
Net income for common stock	7,419			4,959			20,884	17,994
Other comprehensive loss, net of taxes	(1)			2			(9)	4
Common stock dividends							(13,425)	(12,300)
Ending balance	352,170			338,598			352,170	338,598
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance			357,036			343,260	357,036	343,260
Net income for common stock	(4,414)			5,618			5,076	18,481
Other comprehensive loss, net of taxes	(8)			(1)			(23)	0
Common stock dividends							(11,025)	(11,400)
Ending balance	351,064			350,341			351,064	350,341
Other subsidiary | Reportable Legal Entities | Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance			$ 77			$ 77	77	77
Net income for common stock	0			0			0	0
Other comprehensive loss, net of taxes	0			0			0	0
Ending balance	$ 77			$ 77			$ 77	$ 77

Electric utility segment - Co_5

Electric utility segment - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Cash flows from operating activities
Net cash provided by operating activities	$ 475,138	$ 212,987
Cash flows from investing activities
Capital expenditures	(342,364)	(236,278)
Other	9,375	15,646
Net cash used in investing activities	(369,638)	(794,762)
Cash flows from financing activities
Common stock dividends	(112,957)	(114,917)
Proceeds from issuance of long-term debt	625,000	67,312
Net increase (decrease) in short-term borrowings with original maturities of three months or less	(137,650)	117,127
Other	(9,409)	(6,112)
Net cash provided by financing activities	371,866	449,491
Net increase (decrease) in cash, cash equivalents and restricted cash	477,366	(132,284)
Cash, cash equivalents and restricted cash, beginning of period	204,927	311,462
Cash, cash equivalents and restricted cash, end of period	682,293	179,178
Less: Restricted cash	(15,164)	(3,898)	$ (5,050)
Cash and cash equivalents	667,129	175,280	199,877
Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by operating activities	406,111	124,167
Cash flows from investing activities
Capital expenditures	(334,497)	(225,876)
Advances from (to) affiliates	0	0
Other	5,216	6,750
Net cash used in investing activities	(329,281)	(219,126)
Cash flows from financing activities
Common stock dividends	(96,750)	(94,425)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(1,496)	(1,496)
Proceeds from issuance of long-term debt	350,000	60,000
Net increase (decrease) in short-term borrowings with original maturities of three months or less	(87,967)	97,450
Payments of obligations under finance leases	(2,162)	(266)
Other	(843)	(258)
Net cash provided by financing activities	160,782	61,005
Net increase (decrease) in cash, cash equivalents and restricted cash	237,612	(33,954)
Cash, cash equivalents and restricted cash, beginning of period	39,242	55,258
Cash, cash equivalents and restricted cash, end of period	276,854	21,304
Less: Restricted cash	(2,000)	0	0
Cash and cash equivalents	274,854	21,304	39,242
Consolidating adjustments | Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by operating activities	(24,450)	(23,700)
Cash flows from investing activities
Capital expenditures	0	0
Advances from (to) affiliates	(26,200)	16,500
Other	0	0
Net cash used in investing activities	(26,200)	16,500
Cash flows from financing activities
Common stock dividends	24,450	23,700
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0
Proceeds from issuance of long-term debt	0	0
Net increase (decrease) in short-term borrowings with original maturities of three months or less	26,200	(16,500)
Payments of obligations under finance leases		0
Other	0	0
Net cash provided by financing activities	50,650	7,200
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0
Less: Restricted cash	0
Cash and cash equivalents	0	0	0
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by operating activities	336,248	74,053
Cash flows from investing activities
Capital expenditures	(217,276)	(152,015)
Advances from (to) affiliates	0	1,000
Other	3,179	4,545
Net cash used in investing activities	(214,097)	(146,470)
Cash flows from financing activities
Common stock dividends	(96,750)	(94,425)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(810)	(810)
Proceeds from issuance of long-term debt	300,000	40,000
Net increase (decrease) in short-term borrowings with original maturities of three months or less	(114,167)	114,950
Payments of obligations under finance leases	(1,914)	(266)
Other	(571)	(170)
Net cash provided by financing activities	85,788	59,279
Net increase (decrease) in cash, cash equivalents and restricted cash	207,939	(13,138)
Cash, cash equivalents and restricted cash, beginning of period	27,579	26,433
Cash, cash equivalents and restricted cash, end of period	235,518
Less: Restricted cash	(2,000)
Cash and cash equivalents	233,518	13,295	27,579
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by operating activities	59,029	38,302
Cash flows from investing activities
Capital expenditures	(47,609)	(34,055)
Advances from (to) affiliates	4,500	(1,500)
Other	912	825
Net cash used in investing activities	(42,197)	(34,730)
Cash flows from financing activities
Common stock dividends	(13,425)	(12,300)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(400)	(400)
Proceeds from issuance of long-term debt	25,000	10,000
Net increase (decrease) in short-term borrowings with original maturities of three months or less	0	(1,000)
Payments of obligations under finance leases	(248)	0
Other	(135)	(44)
Net cash provided by financing activities	10,792	(3,744)
Net increase (decrease) in cash, cash equivalents and restricted cash	27,624	(172)
Cash, cash equivalents and restricted cash, beginning of period	5,092	5,326
Cash, cash equivalents and restricted cash, end of period	32,716
Less: Restricted cash	0
Cash and cash equivalents	32,716	5,154	5,092
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by operating activities	35,284	35,512
Cash flows from investing activities
Capital expenditures	(69,612)	(39,806)
Advances from (to) affiliates	21,700	(16,000)
Other	1,125	1,380
Net cash used in investing activities	(46,787)	(54,426)
Cash flows from financing activities
Common stock dividends	(11,025)	(11,400)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(286)	(286)
Proceeds from issuance of long-term debt	25,000	10,000
Net increase (decrease) in short-term borrowings with original maturities of three months or less	0	0
Payments of obligations under finance leases	0	0
Other	(137)	(44)
Net cash provided by financing activities	13,552	(1,730)
Net increase (decrease) in cash, cash equivalents and restricted cash	2,049	(20,644)
Cash, cash equivalents and restricted cash, beginning of period	6,494	23,422
Cash, cash equivalents and restricted cash, end of period	8,543
Less: Restricted cash	0
Cash and cash equivalents	8,543	2,778	6,494
Other subsidiary | Reportable Legal Entities | Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by operating activities	0	0
Cash flows from investing activities
Capital expenditures	0	0
Advances from (to) affiliates	0	0
Other	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities
Common stock dividends	0	0
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0
Proceeds from issuance of long-term debt	0	0
Net increase (decrease) in short-term borrowings with original maturities of three months or less	0	0
Payments of obligations under finance leases		0
Other	0	0
Net cash provided by financing activities	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	77	77
Cash, cash equivalents and restricted cash, end of period	77
Less: Restricted cash	0
Cash and cash equivalents	$ 77	$ 77	$ 77

Bank segment - Income Statement

Bank segment - Income Statement Data (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Noninterest income
Noninterest income	$ 822,044			$ 990,338			$ 2,435,416	$ 2,527,153
Noninterest expense
Income (loss) before income taxes	49,110			79,905			188,781	233,602
Income taxes	7,521			17,352			36,915	48,395
Net income (loss)	41,589			62,553			151,866	185,207
Other comprehensive (loss) income, net of tax benefits	(34,875)	$ (7,609)	$ 20,488	(96,012)	$ (87,840)	$ (117,159)	(21,996)	(301,011)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	6,243			(33,930)			128,453	(117,221)
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans	71,540			53,365			204,348	147,499
Interest and dividends on investment securities	14,096			15,052			42,508	43,729
Interest and dividend income	85,636			68,417			246,856	191,228
Interest expense
Interest on deposit liabilities	14,446			1,704			30,944	3,572
Interest on other borrowings	8,598			1,055			25,171	1,199
Total interest expense	23,044			2,759			56,115	4,771
Net interest income	62,592			65,658			190,741	186,457
Provision for credit losses	8,835			(186)			10,053	(692)
Net interest income after provision for credit losses	53,757			65,844			180,688	187,149
Noninterest income
Gain on sale of real estate	0			0			495	1,002
Total noninterest income	15,338			12,994			45,355	41,624
Noninterest expense
Compensation and employee benefits	29,902			28,597			89,500	83,478
Occupancy	5,154			5,577			16,281	16,996
Data processing	5,133			4,509			15,240	13,144
Services	3,627			2,751			8,911	7,712
Equipment	3,125			2,432			8,728	7,163
Office supplies, printing and postage	1,022			1,123			3,296	3,256
Marketing	984			925			2,834	2,877
Other expense	7,399			5,643			19,742	14,542
Noninterest expense	56,346			51,557			164,532	149,168
Income (loss) before income taxes	12,749			27,281			61,511	79,605
Income taxes	1,384			6,525			11,380	17,513
Net income (loss)	11,365			20,756			50,131	62,092
Other comprehensive (loss) income, net of tax benefits	(34,231)			(98,942)			(23,011)	(310,218)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(22,866)			(78,186)			27,120	(248,126)
American Savings Bank (ASB) | Fees from other financial services
Noninterest income
Noninterest income	4,703			4,763			14,391	15,066
American Savings Bank (ASB) | Fee income on deposit liabilities
Noninterest income
Noninterest income	4,924			4,879			14,027	14,122
American Savings Bank (ASB) | Fee income on other financial products
Noninterest income
Noninterest income	2,440			2,416			7,952	7,663
American Savings Bank (ASB) | Bank-owned life insurance
Noninterest income
Noninterest income	2,303			122			5,683	661
American Savings Bank (ASB) | Mortgage banking income
Noninterest income
Noninterest income	341			181			701	1,630
American Savings Bank (ASB) | Other income, net
Noninterest income
Noninterest income	$ 627			$ 633			$ 2,106	$ 1,480

Bank segment - Reconciliation o

Bank segment - Reconciliation of Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Condensed Income Statements, Captions [Line Items]
Revenues	$ 901,873	$ 1,042,197	$ 2,725,795	$ 2,722,872
Less / Add back: Retirement defined benefits credit—other than service costs	(1,256)	(1,039)	(3,561)	(3,528)
Total expenses	826,762	940,082	2,464,187	2,434,813
Operating income - bank	75,111	102,115	261,608	288,059
Income before income taxes	49,110	79,905	188,781	233,602
American Savings Bank (ASB)
Condensed Income Statements, Captions [Line Items]
Interest and dividend income	85,636	68,417	246,856	191,228
Noninterest income	15,338	12,994	45,355	41,624
Less: Gain on sale of real estate	0	0	495	1,002
Revenues	100,974	81,411	291,716	231,850
Total interest expense	23,044	2,759	56,115	4,771
Provision for credit losses	8,835	(186)	10,053	(692)
Noninterest expense	56,346	51,557	164,532	149,168
Less / Add back: Retirement defined benefits credit—other than service costs	(190)	(181)	(564)	(552)
Total expenses	88,415	54,311	230,769	152,797
Operating income - bank	12,559	27,100	60,947	79,053
Income before income taxes	$ 12,749	$ 27,281	$ 61,511	$ 79,605

Bank segment - Balance Sheets D

Bank segment - Balance Sheets Data (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 667,129			$ 199,877	$ 175,280
Investment securities
Available-for-sale investment securities, at fair value	1,266,412			1,429,667
Held-to-maturity, at amortized cost (fair value of $1,052,221 and $1,150,971, respectively)	1,212,005			1,251,747
Held-to-maturity investment securities	1,052,221
Stock in Federal Home Loan Bank, at cost	18,000			26,560
Allowance for credit losses	(76,366)	$ (69,068)		(72,216)	(70,406)	$ (69,456)		$ (71,130)
Loans held for investment, net	6,114,640			5,906,690
Loans held for sale, at lower of cost or fair value	2,171			824
Other assets	826,020			824,536
Goodwill	82,190			82,190
Total assets	16,991,818			16,284,244
Liabilities and shareholder’s equity
Other	837,506			787,057
Total liabilities	14,733,171			14,047,452
Retained earnings	877,931			845,830
Accumulated other comprehensive loss, net of tax benefits
Accumulated other comprehensive loss, net of tax benefits	(358,024)			(336,028)
Common stock equity	2,224,354	$ 2,249,377	$ 2,237,955	2,202,499	$ 2,162,922	$ 2,233,504	$ 2,303,642	$ 2,390,884
Total liabilities and shareholders’ equity	16,991,818			16,284,244
Other assets
Premises and equipment, net	5,917,342			5,687,003
Other assets	826,020			824,536
Other liabilities
Other liabilities	837,506			787,057
American Savings Bank (ASB)
Assets
Cash and due from banks	139,059			153,042
Interest-bearing deposits	124,531			3,107
Cash and cash equivalents	263,590			156,149
Investment securities
Available-for-sale investment securities, at fair value	1,266,412			1,429,667
Held-to-maturity, at amortized cost (fair value of $1,052,221 and $1,150,971, respectively)	1,212,005			1,251,747
Held-to-maturity investment securities	1,052,221			1,150,971
Stock in Federal Home Loan Bank, at cost	18,000			26,560
Loans held for investment	6,191,006			5,978,906
Allowance for credit losses	(76,366)			(72,216)
Loans held for investment, net	6,114,640			5,906,690
Loans held for sale, at lower of cost or fair value	2,171			824
Other assets	698,420			692,143
Goodwill	82,190			82,190
Total assets	9,657,428			9,545,970
Liabilities and shareholder’s equity
Deposit liabilities—noninterest-bearing	2,573,010			2,811,077
Deposit liabilities—interest-bearing	5,651,341			5,358,619
Other borrowings	750,000			695,120
Other	224,136			212,269
Total liabilities	9,198,487			9,077,085
Common stock	1			1
Additional paid-in capital	357,742			355,806
Retained earnings	460,824			449,693
Accumulated other comprehensive loss, net of tax benefits
Net unrealized losses on securities	(350,234)			(328,904)
Retirement benefit plans	(9,392)			(7,711)
Accumulated other comprehensive loss, net of tax benefits	(359,626)			(336,615)
Common stock equity	458,941			468,885
Total liabilities and shareholders’ equity	9,657,428			9,545,970
Other assets
Bank-owned life insurance	186,143			182,986
Premises and equipment, net	189,950			195,324
Accrued interest receivable	29,361			25,077
Mortgage-servicing rights	8,376			9,047
Low-income housing investments	103,580			106,978
Deferred tax asset	127,735			116,441
Real estate acquired in settlement of loans, net	0			115
Other	53,275			56,175
Other assets	698,420			692,143
Other liabilities
Accrued expenses	102,540			97,295
Federal and state income taxes payable	845			863
Cashier’s checks	38,483			36,401
Advance payments by borrowers	4,289			9,637
Other	77,979			68,073
Other liabilities	$ 224,136			$ 212,269

Bank segment - Components of In

Bank segment - Components of Investment Securities (Details) $ in Thousands	Sep. 30, 2023 USD ($) issue	Dec. 31, 2022 USD ($) issue
Available-for-sale
Amortized cost	$ 1,559,205
Available-for-sale investment securities, at fair value	1,266,412	$ 1,429,667
Held-to-maturity
Held-to-maturity investment securities, at amortized cost	1,212,005	1,251,747
Held-to-maturity investment securities	1,052,221
American Savings Bank (ASB)
Available-for-sale
Amortized cost	1,559,205	1,678,205
Gross unrealized gains	0	0
Gross unrealized losses	(292,793)	(248,538)
Available-for-sale investment securities, at fair value	$ 1,266,412	$ 1,429,667
Gross unrealized losses, less than 12 months, number of issues | issue	5	129
Gross unrealized losses, less than 12 months, fair value	$ 12,650	$ 526,681
Gross unrealized losses, less than 12 months, amount	$ (3,432)	$ (61,147)
Gross unrealized losses, 12 months or longer, number of issues | issue	195	75
Gross unrealized losses, 12 months or longer, fair value	$ 1,239,268	$ 888,084
Gross unrealized losses, 12 months or more, amount	(289,361)	(187,391)
Held-to-maturity
Held-to-maturity investment securities, at amortized cost	1,212,005	1,251,747
Gross unrealized gains	0	2,670
Gross unrealized losses	(159,784)	(103,446)
Held-to-maturity investment securities	$ 1,052,221	$ 1,150,971
Less than 12 months, number of issues | issue	62	23
Less than 12 months, fair value	$ 612,587	$ 200,503
Less than 12 months, amount	$ (42,892)	$ (13,815)
12 months or longer, number of issues | issue	44	53
12 months or longer: fair value	$ 439,634	$ 601,792
12 months or longer, amount	(116,892)	(89,631)
U.S. Treasury and federal agency obligations | American Savings Bank (ASB)
Available-for-sale
Amortized cost	82,252	88,344
Gross unrealized gains	0	0
Gross unrealized losses	(7,252)	(7,281)
Available-for-sale investment securities, at fair value	$ 75,000	$ 81,063
Gross unrealized losses, less than 12 months, number of issues | issue	0	12
Gross unrealized losses, less than 12 months, fair value	$ 0	$ 41,201
Gross unrealized losses, less than 12 months, amount	$ 0	$ (2,120)
Gross unrealized losses, 12 months or longer, number of issues | issue	14	4
Gross unrealized losses, 12 months or longer, fair value	$ 75,000	$ 39,862
Gross unrealized losses, 12 months or more, amount	(7,252)	(5,161)
Held-to-maturity
Held-to-maturity investment securities, at amortized cost	59,912	59,894
Gross unrealized gains	0	0
Gross unrealized losses	(9,541)	(8,478)
Held-to-maturity investment securities	$ 50,371	$ 51,416
Less than 12 months, number of issues | issue	0	1
Less than 12 months, fair value	$ 0	$ 16,874
Less than 12 months, amount	$ 0	$ (3,222)
12 months or longer, number of issues | issue	3	2
12 months or longer: fair value	$ 50,371	$ 34,542
12 months or longer, amount	(9,541)	(5,256)
Mortgage-backed securities | American Savings Bank (ASB)
Available-for-sale
Amortized cost	1,427,186	1,530,582
Gross unrealized gains	0	0
Gross unrealized losses	(282,019)	(237,614)
Available-for-sale investment securities, at fair value	$ 1,145,167	$ 1,292,968
Gross unrealized losses, less than 12 months, number of issues | issue	5	113
Gross unrealized losses, less than 12 months, fair value	$ 12,650	$ 455,836
Gross unrealized losses, less than 12 months, amount	$ (3,432)	$ (56,999)
Gross unrealized losses, 12 months or longer, number of issues | issue	178	70
Gross unrealized losses, 12 months or longer, fair value	$ 1,132,517	$ 837,132
Gross unrealized losses, 12 months or more, amount	(278,587)	(180,615)
Held-to-maturity
Held-to-maturity investment securities, at amortized cost	1,152,093	1,191,853
Gross unrealized gains	0	2,670
Gross unrealized losses	(150,243)	(94,968)
Held-to-maturity investment securities	$ 1,001,850	$ 1,099,555
Less than 12 months, number of issues | issue	62	22
Less than 12 months, fair value	$ 612,587	$ 183,629
Less than 12 months, amount	$ (42,892)	$ (10,593)
12 months or longer, number of issues | issue	41	51
12 months or longer: fair value	$ 389,263	$ 567,250
12 months or longer, amount	(107,351)	(84,375)
Corporate bonds | American Savings Bank (ASB)
Available-for-sale
Amortized cost	35,273	44,377
Gross unrealized gains	0	0
Gross unrealized losses	(3,522)	(3,643)
Available-for-sale investment securities, at fair value	$ 31,751	$ 40,734
Gross unrealized losses, less than 12 months, number of issues | issue	0	4
Gross unrealized losses, less than 12 months, fair value	$ 0	$ 29,644
Gross unrealized losses, less than 12 months, amount	$ 0	$ (2,028)
Gross unrealized losses, 12 months or longer, number of issues | issue	3	1
Gross unrealized losses, 12 months or longer, fair value	$ 31,751	$ 11,090
Gross unrealized losses, 12 months or more, amount	(3,522)	(1,615)
Mortgage revenue bonds | American Savings Bank (ASB)
Available-for-sale
Amortized cost	14,494	14,902
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Available-for-sale investment securities, at fair value	$ 14,494	$ 14,902
Gross unrealized losses, less than 12 months, number of issues | issue	0	0
Gross unrealized losses, less than 12 months, fair value	$ 0	$ 0
Gross unrealized losses, less than 12 months, amount	$ 0	$ 0
Gross unrealized losses, 12 months or longer, number of issues | issue	0	0
Gross unrealized losses, 12 months or longer, fair value	$ 0	$ 0
Gross unrealized losses, 12 months or more, amount	$ 0	$ 0

Bank segment - Contractual Matu

Bank segment - Contractual Maturities of Investment Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Available-for-sale
Due in one year or less	$ 1,811
Due after one year through five years	115,714
Due after five years through ten years	14,494
Due after ten years	0
Total amortized cost	132,019
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	1,427,186
Amortized cost	1,559,205
Held-to-maturity
Due in one year or less	0
Due after one year through five years	39,824
Due after five years through ten years	20,088
Due after ten years	0
Total amortized cost	59,912
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	1,152,093
Held-to-maturity investment securities, at amortized cost	1,212,005	$ 1,251,747
Available-for-sale
Due in one year or less	1,782
Due after one year through five years	104,970
Due after five years through ten years	14,494
Due after ten years	0
Total fair value	121,246
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	1,145,166
Available-for-sale investment securities, at fair value	1,266,412	$ 1,429,667
Held-to-maturity
Due in one year or less	0
Due after one year through five years	34,133
Due after five years through ten years	16,238
Due after ten years	0
Total fair value	50,371
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	1,001,850
Held-to-maturity investment securities	$ 1,052,221

Bank segment - Loans Receivable

Bank segment - Loans Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 6,221,102		$ 6,005,021
Less: Deferred fees and discounts	(30,096)		(26,115)
Allowance for credit losses	(76,366)	$ (69,068)	(72,216)	$ (70,406)	$ (69,456)	$ (71,130)
Loans held for investment, net	6,114,640		5,906,690
Real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	5,205,698		4,970,621
Real estate | Residential 1-4 family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,566,300		2,479,637
Allowance for credit losses	(6,467)	(4,708)	(6,270)	(7,584)	(8,520)	(6,545)
Real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,400,570		1,358,123
Allowance for credit losses	(22,458)	(20,278)	(21,898)	(21,036)	(20,900)	(24,696)
Real estate | Home equity line of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,032,749		1,002,905
Allowance for credit losses	(7,775)	(7,139)	(6,125)	(5,943)	(6,096)	(5,657)
Real estate | Residential land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	20,245		20,679
Allowance for credit losses	(621)	(653)	(717)	(689)	(677)	(646)
Real estate | Commercial construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	168,539		88,489
Allowance for credit losses	(3,624)	(2,549)	(1,195)	(999)	(2,634)	(2,186)
Real estate | Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	17,295		20,788
Allowance for credit losses	(42)	(26)	(46)	(49)	(46)	(18)
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	732,458		779,691
Allowance for credit losses	(10,783)	(11,358)	(12,426)	(12,951)	(12,413)	(15,798)
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	282,946		254,709
Allowance for credit losses	$ (24,596)	$ (22,357)	$ (23,539)	$ (21,155)	$ (18,170)	$ (15,584)

Bank segment - Narrative (Detai

Bank segment - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Allowance for credit losses
Other bank borrowings	$ 750,000		$ 695,120
American Savings Bank (ASB)
Allowance for credit losses
Minimum benchmark percentage of loan to appraisal ratio which mortgage insurance is required	80%
Minimum benchmark percentage of loan to appraisal ratio on non-owner occupied residential property	75%
Advances from the FHLB	$ 200,000		414,000
American Savings Bank (ASB) | Federal Reserve Bank Advances
Allowance for credit losses
Other bank borrowings	550,000		$ 0
Home equity line of credit
Allowance for credit losses
Conversion of debt	20,400	$ 12,900
Commercial
Allowance for credit losses
Conversion of debt	6,100	1,600
Consumer
Allowance for credit losses
Conversion of debt	$ 1,100	$ 2,700

Bank segment - Allowance for Cr

Bank segment - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Allowance for credit losses:
Beginning balance	$ 69,068	$ 69,456	$ 72,216	$ 71,130
Charge-offs	(2,792)	(1,646)	(9,417)	(4,721)
Recoveries	1,755	1,282	4,214	4,189
Provision	8,335	1,314	9,353	(192)
Ending balance	76,366	70,406	76,366	70,406
Real estate | Residential 1-4 family
Allowance for credit losses:
Beginning balance	4,708	8,520	6,270	6,545
Charge-offs	0	0	(990)	0
Recoveries	57	2	63	13
Provision	1,702	(938)	1,124	1,026
Ending balance	6,467	7,584	6,467	7,584
Real estate | Commercial real estate
Allowance for credit losses:
Beginning balance	20,278	20,900	21,898	24,696
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	2,180	136	560	(3,660)
Ending balance	22,458	21,036	22,458	21,036
Real estate | Home equity line of credit
Allowance for credit losses:
Beginning balance	7,139	6,096	6,125	5,657
Charge-offs	0	0	(360)	0
Recoveries	131	14	165	56
Provision	505	(167)	1,845	230
Ending balance	7,775	5,943	7,775	5,943
Real estate | Residential land
Allowance for credit losses:
Beginning balance	653	677	717	646
Charge-offs	0	0	0	0
Recoveries	1	0	4	101
Provision	(33)	12	(100)	(58)
Ending balance	621	689	621	689
Real estate | Commercial construction
Allowance for credit losses:
Beginning balance	2,549	2,634	1,195	2,186
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	1,075	(1,635)	2,429	(1,187)
Ending balance	3,624	999	3,624	999
Real estate | Residential construction
Allowance for credit losses:
Beginning balance	26	46	46	18
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	16	3	(4)	31
Ending balance	42	49	42	49
Commercial
Allowance for credit losses:
Beginning balance	11,358	12,413	12,426	15,798
Charge-offs	(125)	(143)	(509)	(367)
Recoveries	725	303	1,329	1,055
Provision	(1,175)	378	(2,463)	(3,535)
Ending balance	10,783	12,951	10,783	12,951
Consumer
Allowance for credit losses:
Beginning balance	22,357	18,170	23,539	15,584
Charge-offs	(2,667)	(1,503)	(7,558)	(4,354)
Recoveries	841	963	2,653	2,964
Provision	4,065	3,525	5,962	6,961
Ending balance	$ 24,596	$ 21,155	$ 24,596	$ 21,155

Bank segment - Allowance for Lo

Bank segment - Allowance for Loan Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Allowance for loan commitments:
Beginning balance	$ 4,600	$ 5,900	$ 4,400	$ 4,900
Provision	500	(1,500)	700	(500)
Ending balance	5,100	4,400	5,100	4,400
Real estate | Home equity line of credit
Allowance for loan commitments:
Beginning balance	600	400	400	400
Provision	0	0	200	0
Ending balance	600	400	600	400
Real estate | Commercial construction
Allowance for loan commitments:
Beginning balance	3,800	4,100	2,600	3,700
Provision	500	(1,500)	1,700	(1,100)
Ending balance	4,300	2,600	4,300	2,600
Commercial
Allowance for loan commitments:
Beginning balance	200	1,400	1,400	800
Provision	0	0	(1,200)	600
Ending balance	$ 200	$ 1,400	$ 200	$ 1,400

Bank segment - Credit Risk Prof

Bank segment - Credit Risk Profile - Payment Activity and Assigned Grades (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Credit risk profile by internally assigned grade for loans
Current year	$ 470,984		$ 470,984		$ 1,296,473
One year before current year	1,222,693		1,222,693		1,220,751
Two years before current year	1,148,475		1,148,475		808,953
Three years before current year	757,370		757,370		296,592
Four years before current year	247,641		247,641		164,815
Prior	1,140,981		1,140,981		1,077,705
Revolving	1,163,634		1,163,634		1,077,634
Converted to term loans	69,324		69,324		62,098
Total	6,221,102		6,221,102		6,005,021
Gross charge-offs	2,792	$ 1,646	9,417	$ 4,721
30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	7,326		7,326		5,959
60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	3,347		3,347		2,343
Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Total	4,285		4,285		5,624
Real estate
Credit risk profile by internally assigned grade for loans
Total	5,205,698		5,205,698		4,970,621
Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current year	199,880		199,880		432,707
One year before current year	414,053		414,053		755,056
Two years before current year	741,401		741,401		423,723
Three years before current year	405,819		405,819		113,096
Four years before current year	107,566		107,566		53,117
Prior	697,581		697,581		701,938
Revolving	0		0		0
Converted to term loans	0		0		0
Total	2,566,300		2,566,300		2,479,637
Charge offs current year			0
Charge offs one year prior of origination year			0
Charge offs two years prior of origination year			0
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			990
Charge offs revolving loans			0
Charge offs converted to term loans			0
Gross charge-offs	0	0	990	0
Real estate | Residential 1-4 family | Current
Credit risk profile by internally assigned grade for loans
Current year	199,880		199,880		432,707
One year before current year	414,053		414,053		755,056
Two years before current year	741,401		741,401		423,455
Three years before current year	405,552		405,552		113,096
Four years before current year	107,566		107,566		51,860
Prior	692,167		692,167		698,354
Revolving	0		0		0
Converted to term loans	0		0		0
Total	2,560,619		2,560,619		2,474,528
Real estate | Residential 1-4 family | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	267		267		0
Four years before current year	0		0		448
Prior	2,654		2,654		1,098
Revolving	0		0		0
Converted to term loans	0		0		0
Total	2,921		2,921		1,546
Real estate | Residential 1-4 family | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		268
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	973		973		90
Revolving	0		0		0
Converted to term loans	0		0		0
Total	973		973		358
Real estate | Residential 1-4 family | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		809
Prior	1,787		1,787		2,396
Revolving	0		0		0
Converted to term loans	0		0		0
Total	1,787		1,787		3,205
Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	977,337		977,337		961,030
Converted to term loans	55,412		55,412		41,875
Total	1,032,749		1,032,749		1,002,905
Charge offs current year			0
Charge offs one year prior of origination year			0
Charge offs two years prior of origination year			0
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			0
Charge offs revolving loans			77
Charge offs converted to term loans			283
Gross charge-offs	0	0	360	0
Real estate | Home equity line of credit | Current
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	976,029		976,029		959,131
Converted to term loans	54,579		54,579		40,814
Total	1,030,608		1,030,608		999,945
Real estate | Home equity line of credit | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	463		463		1,103
Converted to term loans	246		246		209
Total	709		709		1,312
Real estate | Home equity line of credit | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	350		350		209
Converted to term loans	321		321		226
Total	671		671		435
Real estate | Home equity line of credit | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	495		495		587
Converted to term loans	266		266		626
Total	761		761		1,213
Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current year	3,077		3,077		5,245
One year before current year	5,118		5,118		9,010
Two years before current year	7,549		7,549		5,222
Three years before current year	3,518		3,518		203
Four years before current year	0		0		522
Prior	983		983		477
Revolving	0		0		0
Converted to term loans	0		0		0
Total	20,245		20,245		20,679
Charge offs current year			0
Charge offs one year prior of origination year			0
Charge offs two years prior of origination year			0
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			0
Charge offs revolving loans			0
Charge offs converted to term loans			0
Gross charge-offs	0	0	0	0
Real estate | Residential land | Current
Credit risk profile by internally assigned grade for loans
Current year	3,077		3,077		5,245
One year before current year	5,118		5,118		9,010
Two years before current year	7,549		7,549		5,222
Three years before current year	3,518		3,518		203
Four years before current year	0		0		522
Prior	983		983		477
Revolving	0		0		0
Converted to term loans	0		0		0
Total	20,245		20,245		20,679
Real estate | Residential land | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	0		0		0
Real estate | Residential land | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	0		0		0
Real estate | Residential land | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	0		0		0
Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current year	2,780		2,780		7,986
One year before current year	11,019		11,019		11,624
Two years before current year	3,496		3,496		1,178
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	17,295		17,295		20,788
Charge offs current year			0
Charge offs one year prior of origination year			0
Charge offs two years prior of origination year			0
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			0
Charge offs revolving loans			0
Charge offs converted to term loans			0
Gross charge-offs	0	0	0	0
Real estate | Residential construction | Current
Credit risk profile by internally assigned grade for loans
Current year	2,780		2,780		7,986
One year before current year	11,019		11,019		11,624
Two years before current year	3,496		3,496		1,178
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	17,295		17,295		20,788
Real estate | Residential construction | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	0		0		0
Real estate | Residential construction | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	0		0		0
Real estate | Residential construction | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	0		0		0
Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current year	86,673		86,673		390,206
One year before current year	390,352		390,352		188,380
Two years before current year	189,888		189,888		287,432
Three years before current year	269,189		269,189		103,322
Four years before current year	91,612		91,612		63,084
Prior	357,374		357,374		317,464
Revolving	15,482		15,482		8,235
Converted to term loans	0		0		0
Total	1,400,570		1,400,570		1,358,123
Charge offs current year			0
Charge offs one year prior of origination year			0
Charge offs two years prior of origination year			0
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			0
Charge offs revolving loans			0
Charge offs converted to term loans			0
Gross charge-offs	0	0	0	0
Real estate | Commercial real estate | Pass
Credit risk profile by internally assigned grade for loans
Current year	81,287		81,287		390,206
One year before current year	390,352		390,352		177,130
Two years before current year	177,125		177,125		283,321
Three years before current year	265,808		265,808		51,542
Four years before current year	66,112		66,112		63,084
Prior	329,235		329,235		278,280
Revolving	15,482		15,482		8,235
Converted to term loans	0		0		0
Total	1,325,401		1,325,401		1,251,798
Real estate | Commercial real estate | Special Mention
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		11,250
Two years before current year	11,214		11,214		3,446
Three years before current year	3,381		3,381		40,423
Four years before current year	14,452		14,452		0
Prior	22,367		22,367		24,466
Revolving	0		0		0
Converted to term loans	0		0		0
Total	51,414		51,414		79,585
Real estate | Commercial real estate | Substandard
Credit risk profile by internally assigned grade for loans
Current year	5,386		5,386		0
One year before current year	0		0		0
Two years before current year	1,549		1,549		665
Three years before current year	0		0		11,357
Four years before current year	11,048		11,048		0
Prior	5,772		5,772		14,718
Revolving	0		0		0
Converted to term loans	0		0		0
Total	23,755		23,755		26,740
Real estate | Commercial real estate | Doubtful
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	0		0		0
Real estate | Commercial real estate | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	0		0		508
Real estate | Commercial real estate | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	0		0		217
Real estate | Commercial real estate | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Total	0		0		0
Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current year	10,643		10,643		15,094
One year before current year	21,440		21,440		47,478
Two years before current year	66,143		66,143		44
Three years before current year	356		356		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	69,957		69,957		25,873
Converted to term loans	0		0		0
Total	168,539		168,539		88,489
Charge offs current year			0
Charge offs one year prior of origination year			0
Charge offs two years prior of origination year			0
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			0
Charge offs revolving loans			0
Charge offs converted to term loans			0
Gross charge-offs	0	0	0	0
Real estate | Commercial construction | Pass
Credit risk profile by internally assigned grade for loans
Current year	10,643		10,643		15,094
One year before current year	21,440		21,440		47,478
Two years before current year	66,143		66,143		44
Three years before current year	356		356		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	69,957		69,957		25,873
Converted to term loans	0		0		0
Total	168,539		168,539		88,489
Real estate | Commercial construction | Special Mention
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	0		0		0
Real estate | Commercial construction | Substandard
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	0		0		0
Real estate | Commercial construction | Doubtful
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	0		0		0
Real estate | Commercial construction | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	0		0		0
Real estate | Commercial construction | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	0		0		0
Real estate | Commercial construction | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Total	0		0		0
Consumer
Credit risk profile by internally assigned grade for loans
Current year	83,841		83,841		202,061
One year before current year	168,293		168,293		21,885
Two years before current year	12,535		12,535		5,733
Three years before current year	2,505		2,505		8,132
Four years before current year	1,137		1,137		604
Prior	225		225		140
Revolving	10,574		10,574		10,956
Converted to term loans	3,836		3,836		5,198
Total	282,946		282,946		254,709
Charge offs current year			850
Charge offs one year prior of origination year			4,637
Charge offs two years prior of origination year			840
Charge offs three years prior of origination year			163
Charge offs four years prior of origination year			363
Charge offs more than five years prior of origination year			39
Charge offs revolving loans			279
Charge offs converted to term loans			387
Gross charge-offs	2,667	1,503	7,558	4,354
Consumer | Current
Credit risk profile by internally assigned grade for loans
Current year	82,282		82,282		199,574
One year before current year	164,693		164,693		21,330
Two years before current year	12,203		12,203		5,543
Three years before current year	2,394		2,394		7,580
Four years before current year	1,010		1,010		527
Prior	222		222		140
Revolving	10,345		10,345		10,810
Converted to term loans	3,413		3,413		4,782
Total	276,562		276,562		250,286
Consumer | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	822		822		1,110
One year before current year	1,882		1,882		287
Two years before current year	122		122		65
Three years before current year	43		43		239
Four years before current year	49		49		30
Prior	1		1		0
Revolving	46		46		81
Converted to term loans	156		156		167
Total	3,121		3,121		1,979
Consumer | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	362		362		756
One year before current year	933		933		163
Two years before current year	108		108		88
Three years before current year	35		35		137
Four years before current year	52		52		19
Prior	0		0		0
Revolving	32		32		45
Converted to term loans	81		81		107
Total	1,603		1,603		1,315
Consumer | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Current year	375		375		621
One year before current year	785		785		105
Two years before current year	102		102		37
Three years before current year	33		33		176
Four years before current year	26		26		28
Prior	2		2		0
Revolving	151		151		20
Converted to term loans	186		186		142
Total	1,660		1,660		1,129
Commercial
Credit risk profile by internally assigned grade for loans
Current year	84,090		84,090		243,174
One year before current year	212,418		212,418		187,318
Two years before current year	127,463		127,463		85,621
Three years before current year	75,983		75,983		71,839
Four years before current year	47,326		47,326		47,488
Prior	84,818		84,818		57,686
Revolving	90,284		90,284		71,540
Converted to term loans	10,076		10,076		15,025
Total	732,458		732,458		779,691
Charge offs current year			0
Charge offs one year prior of origination year			0
Charge offs two years prior of origination year			51
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			0
Charge offs revolving loans			177
Charge offs converted to term loans			281
Gross charge-offs	125	$ 143	509	$ 367
Commercial | Pass
Credit risk profile by internally assigned grade for loans
Current year	82,145		82,145		239,852
One year before current year	209,364		209,364		185,013
Two years before current year	124,453		124,453		85,220
Three years before current year	75,753		75,753		68,161
Four years before current year	46,291		46,291		46,142
Prior	81,409		81,409		53,192
Revolving	81,627		81,627		60,871
Converted to term loans	9,560		9,560		13,964
Total	710,602		710,602		752,415
Commercial | Special Mention
Credit risk profile by internally assigned grade for loans
Current year	1,945		1,945		0
One year before current year	0		0		0
Two years before current year	970		970		0
Three years before current year	0		0		2,374
Four years before current year	272		272		0
Prior	0		0		645
Revolving	7,151		7,151		9,005
Converted to term loans	0		0		8
Total	10,338		10,338		12,032
Commercial | Substandard
Credit risk profile by internally assigned grade for loans
Current year	0		0		3,322
One year before current year	3,054		3,054		2,305
Two years before current year	2,040		2,040		401
Three years before current year	230		230		1,304
Four years before current year	763		763		1,346
Prior	3,409		3,409		3,849
Revolving	1,506		1,506		1,664
Converted to term loans	516		516		1,053
Total	11,518		11,518		15,244
Commercial | Doubtful
Credit risk profile by internally assigned grade for loans
Current year	0		0		0
One year before current year	0		0		0
Two years before current year	0		0		0
Three years before current year	0		0		0
Four years before current year	0		0		0
Prior	0		0		0
Revolving	0		0		0
Converted to term loans	0		0		0
Total	0		0		0
Commercial | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	575		575		614
Commercial | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	100		100		18
Commercial | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Total	$ 77		$ 77		$ 77

Bank segment - Credit Risk Pr_2

Bank segment - Credit Risk Profile - Payment Activity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Credit risk profile based on payment activity for loans
Total financing receivables	$ 6,221,102	$ 6,005,021
Amortized cost> 90 days and accruing	0	0
Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	5,205,698	4,970,621
Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,566,300	2,479,637
Amortized cost> 90 days and accruing	0	0
Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,400,570	1,358,123
Amortized cost> 90 days and accruing	0	0
Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	1,032,749	1,002,905
Amortized cost> 90 days and accruing	0	0
Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	20,245	20,679
Amortized cost> 90 days and accruing	0	0
Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	168,539	88,489
Amortized cost> 90 days and accruing	0	0
Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	17,295	20,788
Amortized cost> 90 days and accruing	0	0
Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	732,458	779,691
Amortized cost> 90 days and accruing	0	0
Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	282,946	254,709
Amortized cost> 90 days and accruing	0	0
30-59 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	7,326	5,959
30-59 days past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,921	1,546
30-59 days past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	508
30-59 days past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	709	1,312
30-59 days past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	575	614
30-59 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	3,121	1,979
60-89 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	3,347	2,343
60-89 days past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	973	358
60-89 days past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	217
60-89 days past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	671	435
60-89 days past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	100	18
60-89 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	1,603	1,315
Greater than 90 days
Credit risk profile based on payment activity for loans
Total financing receivables	4,285	5,624
Greater than 90 days | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	1,787	3,205
Greater than 90 days | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	761	1,213
Greater than 90 days | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	77	77
Greater than 90 days | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	1,660	1,129
Total past due
Credit risk profile based on payment activity for loans
Total financing receivables	14,958	13,926
Total past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	5,681	5,109
Total past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	725
Total past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	2,141	2,960
Total past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	752	709
Total past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	6,384	4,423
Current
Credit risk profile based on payment activity for loans
Total financing receivables	6,206,144	5,991,095
Current | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,560,619	2,474,528
Current | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,400,570	1,357,398
Current | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	1,030,608	999,945
Current | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	20,245	20,679
Current | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	168,539	88,489
Current | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	17,295	20,788
Current | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	731,706	778,982
Current | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	$ 276,562	$ 250,286

Bank segment - Credit Risk Pr_3

Bank segment - Credit Risk Profile - Nonaccrual Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Credit risk profile based on nonaccrual loans
With a Related ACL	$ 6,365	$ 12,043
Without a Related ACL	3,517	4,423
Total	9,882	16,466
Real estate | Residential 1-4 family
Credit risk profile based on nonaccrual loans
With a Related ACL	573	4,198
Without a Related ACL	2,500	2,981
Total	3,073	7,179
Real estate | Commercial real estate
Credit risk profile based on nonaccrual loans
With a Related ACL	0	0
Without a Related ACL	0	0
Total	0	0
Real estate | Home equity line of credit
Credit risk profile based on nonaccrual loans
With a Related ACL	2,764	3,654
Without a Related ACL	1,017	1,442
Total	3,781	5,096
Real estate | Residential land
Credit risk profile based on nonaccrual loans
With a Related ACL	106	420
Without a Related ACL	0	0
Total	106	420
Real estate | Commercial construction
Credit risk profile based on nonaccrual loans
With a Related ACL	0	0
Without a Related ACL	0	0
Total	0	0
Real estate | Residential construction
Credit risk profile based on nonaccrual loans
With a Related ACL	0	0
Without a Related ACL	0	0
Total	0	0
Commercial
Credit risk profile based on nonaccrual loans
With a Related ACL	508	2,183
Without a Related ACL	0	0
Total	508	2,183
Consumer
Credit risk profile based on nonaccrual loans
With a Related ACL	2,414	1,588
Without a Related ACL	0	0
Total	$ 2,414	$ 1,588

Bank segment - Credit Risk Pr_4

Bank segment - Credit Risk Profile - Troubled Debt Restructured Loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Financing Receivable, Modified [Line Items]
Total troubled debt restructured loans accruing interest	$ 30,130
Real estate | Residential 1-4 family
Financing Receivable, Modified [Line Items]
Total troubled debt restructured loans accruing interest	8,821
Real estate | Commercial real estate
Financing Receivable, Modified [Line Items]
Total troubled debt restructured loans accruing interest	9,477
Real estate | Home equity line of credit
Financing Receivable, Modified [Line Items]
Total troubled debt restructured loans accruing interest	4,404
Real estate | Residential land
Financing Receivable, Modified [Line Items]
Total troubled debt restructured loans accruing interest	782
Real estate | Commercial construction
Financing Receivable, Modified [Line Items]
Total troubled debt restructured loans accruing interest	0
Real estate | Residential construction
Financing Receivable, Modified [Line Items]
Total troubled debt restructured loans accruing interest	0
Commercial
Financing Receivable, Modified [Line Items]
Total troubled debt restructured loans accruing interest	6,596
Consumer
Financing Receivable, Modified [Line Items]
Total troubled debt restructured loans accruing interest	$ 50

Bank segment - Loan Modificatio

Bank segment - Loan Modifications (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022 USD ($) contract	Sep. 30, 2022 USD ($) contract
Financing Receivable, Modified [Line Items]
Financing receivable, modifications, number of contracts | contract	3	5
Financing receivables modifications pre modification recorded investment	$ 716	$ 1,385
Related allowance	$ 16	$ 171
Residential 1-4 family
Financing Receivable, Modified [Line Items]
Financing receivable, modifications, number of contracts | contract	2	3
Financing receivables modifications pre modification recorded investment	$ 512	$ 893
Related allowance	$ 0	$ 135
Commercial real estate
Financing Receivable, Modified [Line Items]
Financing receivable, modifications, number of contracts | contract	0	0
Financing receivables modifications pre modification recorded investment	$ 0	$ 0
Related allowance	$ 0	$ 0
Home equity line of credit
Financing Receivable, Modified [Line Items]
Financing receivable, modifications, number of contracts | contract	0	0
Financing receivables modifications pre modification recorded investment	$ 0	$ 0
Related allowance	$ 0	$ 0
Residential land
Financing Receivable, Modified [Line Items]
Financing receivable, modifications, number of contracts | contract	1	1
Financing receivables modifications pre modification recorded investment	$ 204	$ 204
Related allowance	$ 16	$ 16
Commercial construction
Financing Receivable, Modified [Line Items]
Financing receivable, modifications, number of contracts | contract	0	0
Financing receivables modifications pre modification recorded investment	$ 0	$ 0
Related allowance	$ 0	$ 0
Residential construction
Financing Receivable, Modified [Line Items]
Financing receivable, modifications, number of contracts | contract	0	0
Financing receivables modifications pre modification recorded investment	$ 0	$ 0
Related allowance	$ 0	$ 0
Commercial loans
Financing Receivable, Modified [Line Items]
Financing receivable, modifications, number of contracts | contract	0	1
Financing receivables modifications pre modification recorded investment	$ 0	$ 288
Related allowance	$ 0	$ 20
Consumer loans
Financing Receivable, Modified [Line Items]
Financing receivable, modifications, number of contracts | contract	0	0
Financing receivables modifications pre modification recorded investment	$ 0	$ 0
Related allowance	$ 0	$ 0

Bank segment - Troubled Debt Re

Bank segment - Troubled Debt Restructuring Narrative (Details) - Troubled debt restructurings real estate loans - USD ($)	3 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Financing Receivable, Impaired [Line Items]
Financing receivable modifications minimum, period of payment default of loans determined to be TDRs (in days)	90 days
Commitments to lend additional funds to borrows with impaired or modified loans		$ 0

Bank segment - Collateral - Dep

Bank segment - Collateral - Dependent loans (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Nonaccrual [Line Items]
Consumer mortgage loans collateralized by residential real estate property in foreclosure process	$ 3,400	$ 4,200
Residential real estate property | Real estate | Residential 1-4 family
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	2,584	3,959
Residential real estate property | Real estate | Home equity line of credit
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	1,017	1,425
Collateral pledged
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	$ 3,601	$ 5,384

Bank segment - Mortgage Servici

Bank segment - Mortgage Servicing Rights (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) loan	Sep. 30, 2022 USD ($) loan	Sep. 30, 2023 USD ($) loan	Sep. 30, 2022 USD ($) loan	Dec. 31, 2022 USD ($)
Servicing contracts
Prepayment rate:
25 basis points adverse rate change	$ (90)		$ (90)		$ (92)
50 basis points adverse rate change	(207)		(207)		(214)
Discount rate:
25 basis points adverse rate change	(206)		(206)		(182)
50 basis points adverse rate change	$ (407)		$ (407)		(361)
American Savings Bank (ASB)
Servicing Asset at Amortized Cost [Line Items]
Number of mortgage loans repurchased | loan	0	1	0	1
Mortgage service fees	$ 900	$ 1,000	$ 2,700	$ 2,800
Mortgage servicing rights
Servicing asset - beginning balance			9,047
Servicing asset - ending balance	8,376		8,376
American Savings Bank (ASB) | Residential loan
Servicing Asset at Amortized Cost [Line Items]
Proceeds from sale of residential loans	21,500	12,100	36,100	126,400
Gain on sale of mortgage loans	300	200	700	1,600
American Savings Bank (ASB) | Servicing contracts
Changes in Carrying Value of MSRs
Gross carrying amount	18,125		18,125		19,544
Accumulated amortization	(9,749)		(9,749)		(10,497)
Valuation allowance	0	0	0	0	0
Net carrying amount	8,376	9,351	8,376	9,351	9,047
Mortgage servicing rights
Servicing asset - beginning balance	8,495	9,696	9,047	9,950
Amount capitalized	184	117	319	1,040
Amortization	(303)	(462)	(990)	(1,639)
Other-than-temporary impairment	0	0	0	0
Servicing asset - ending balance	8,376	9,351	8,376	9,351
Valuation allowance for mortgage servicing rights
Valuation allowance, beginning balance	0	0	0	0
Provision	0	0	0	0
Other-than-temporary impairment	0	0	0	0
Valuation allowance, ending balance	0	$ 0	0	$ 0
Unpaid principal balance	$ 1,412,412		$ 1,412,412		$ 1,451,322
American Savings Bank (ASB) | Servicing contracts | Weighted average note rate
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0344		0.0344		0.0338
American Savings Bank (ASB) | Servicing contracts | Weighted average discount rate
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.1000		0.1000		0.1000
American Savings Bank (ASB) | Servicing contracts | Weighted average prepayment speed
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0558		0.0558		0.0656

Bank segment - Other Borrowings

Bank segment - Other Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Offsetting Liabilities [Line Items]
Other bank borrowings	$ 750,000	$ 695,120
Gross amount  of recognized  liabilities	0	281,000
Gross amount  offset in the  Balance Sheets	0	0
Net amount of liabilities presented in the Balance Sheets	0	281,000
Commercial account holders
Offsetting Liabilities [Line Items]
Net amount of liabilities presented in the Balance Sheets	0	281,000
Financial instruments	0	327,000
Cash collateral pledged	0	0
American Savings Bank (ASB)
Offsetting Liabilities [Line Items]
Advances from the FHLB	200,000	414,000
American Savings Bank (ASB) | Federal Reserve Bank Advances
Offsetting Liabilities [Line Items]
Other bank borrowings	$ 550,000	$ 0

Bank segment - Derivative Finan

Bank segment - Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Derivative instrument
Derivative, gain (loss), statement of income or comprehensive income	Revenues	Revenues	Revenues	Revenues
Derivative Financial Instruments Not Designated as Hedging Instruments
Derivative instrument
Asset derivatives	$ 69		$ 69		$ 27
Liability derivatives	0		0		0
Net gains (losses) recognized in the Statement of Income	(70)	$ 16	42	$ (540)
Interest rate lock commitments
Derivative instrument
Notional amount	4,910		4,910		1,720
Fair value	54		54		9
Interest rate lock commitments | Derivative Financial Instruments Not Designated as Hedging Instruments
Derivative instrument
Asset derivatives	54		54		9
Liability derivatives	0		0		0
Net gains (losses) recognized in the Statement of Income	(34)	(129)	45	(722)
Forward commitments
Derivative instrument
Notional amount	3,500		3,500		1,500
Fair value	15		15		18
Forward commitments | Derivative Financial Instruments Not Designated as Hedging Instruments
Derivative instrument
Asset derivatives	15		15		18
Liability derivatives	0		0		$ 0
Net gains (losses) recognized in the Statement of Income	$ (36)	$ 145	$ (3)	$ 182

Bank segment - Contingencies (D

Bank segment - Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
American Savings Bank (ASB)
Loss Contingencies [Line Items]
Unfunded commitments to fund the company's LIHTC	$ 77.1	$ 70.1

Credit agreement and changes _3

Credit agreement and changes in debt - Narrative (Details)	Nov. 01, 2023 USD ($)	May 14, 2023 USD ($) institution extensionOption	Feb. 18, 2022 USD ($) extensionOption	Aug. 23, 2023 USD ($)	Aug. 15, 2023 USD ($)	Mar. 31, 2023 USD ($)	Mar. 16, 2023 USD ($)	Dec. 28, 2022 USD ($)	Oct. 20, 2022 USD ($)	May 14, 2021 USD ($) institution
HEI Facility
Credit agreement
Credit agreement		$ 175,000,000		$ 175,000,000	$ 175,000,000					$ 175,000,000
Credit agreement, remaining borrowing capacity		157,000,000
Amount of initial drawing					$ 2,500,000
HEI Facility | Senior Notes
Credit agreement
Aggregate principal amount							$ 100,000,000
Hawaiian Electric Facility
Credit agreement
Credit agreement		200,000,000		$ 200,000,000
Credit agreement, remaining borrowing capacity		$ 180,000,000
Hawaiian Electric Facility | Subsequent Event
Credit agreement
Repayment of credit	$ 100,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Credit Facilities
Credit agreement
Number of financial institutions | institution		9								9
Number of financial institutions with extended termination date | institution		8
Hawaiian Electric Company, Inc. and Subsidiaries | Hawaiian Electric Facility
Credit agreement
Credit agreement			$ 200,000,000							$ 200,000,000
Number of extension options | extensionOption		2	2
Extension period		1 year	1 year
Extended maximum borrowing capacity			$ 275,000,000
Hawaiian Electric, Parent | Term Loan
Credit agreement
Aggregate principal amount									$ 100,000,000
Line of credit outstanding						$ 65,000,000		$ 35,000,000
Hawaiian Electric, Parent | Term Loan | SOFR
Credit agreement
Effective interest rate						5.81%

Credit agreement and changes _4

Credit agreement and changes in debt - HEI Private Placement (Details) - Senior Notes	Sep. 30, 2023 USD ($)
Series 2023A
Debt Instrument [Line Items]
Aggregate principal amount	$ 39,000,000
Fixed coupon interest rate	6.04%
Series 2023B
Debt Instrument [Line Items]
Aggregate principal amount	$ 61,000,000
Fixed coupon interest rate	6.10%

Credit agreement and changes _5

Credit agreement and changes in debt - Note Purchase Agreements (Details) - Senior Notes - USD ($)	Sep. 30, 2023	Jan. 10, 2023
Series 2023A
Debt Instrument [Line Items]
Aggregate principal amount	$ 39,000,000
Fixed coupon interest rate	6.04%
Series 2023A | Hawaiian Electric Company, Inc. and Subsidiaries
Debt Instrument [Line Items]
Aggregate principal amount		$ 90,000,000
Series 2023A | Hawaiian Electric, Parent
Debt Instrument [Line Items]
Aggregate principal amount		$ 40,000,000
Fixed coupon interest rate		6.11%
Series 2023A | Hawaii Electric Light Company, Inc
Debt Instrument [Line Items]
Aggregate principal amount		$ 25,000,000
Fixed coupon interest rate		6.25%
Series 2023A | Maui Electric
Debt Instrument [Line Items]
Aggregate principal amount		$ 25,000,000
Fixed coupon interest rate		6.25%
Series 2023B
Debt Instrument [Line Items]
Aggregate principal amount	$ 61,000,000
Fixed coupon interest rate	6.10%
Series 2023B | Hawaiian Electric Company, Inc. and Subsidiaries
Debt Instrument [Line Items]
Aggregate principal amount		$ 40,000,000
Series 2023B | Hawaiian Electric, Parent
Debt Instrument [Line Items]
Aggregate principal amount		$ 40,000,000
Fixed coupon interest rate		6.25%
Series 2023C | Hawaiian Electric Company, Inc. and Subsidiaries
Debt Instrument [Line Items]
Aggregate principal amount		$ 20,000,000
Series 2023C | Hawaiian Electric, Parent
Debt Instrument [Line Items]
Aggregate principal amount		$ 20,000,000
Fixed coupon interest rate		6.70%

Shareholders' equity - Accumula

Shareholders' equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,249,377	$ 2,237,955	$ 2,202,499	$ 2,233,504	$ 2,303,642	$ 2,390,884	$ 2,202,499	$ 2,390,884
Current period other comprehensive income (loss)	(34,875)	(7,609)	20,488	(96,012)	(87,840)	(117,159)	(21,996)	(301,011)
Ending balance	2,224,354	2,249,377	2,237,955	2,162,922	2,233,504	2,303,642	2,224,354	2,162,922
AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(323,149)	(315,540)	(336,028)	(257,532)	(169,692)	(52,533)	(336,028)	(52,533)
Current period other comprehensive income (loss)	(34,875)	(7,609)	20,488	(96,012)	(87,840)	(117,159)
Ending balance	(358,024)	(323,149)	(315,540)	(353,544)	(257,532)	(169,692)	(358,024)	(353,544)
Net unrealized gains (losses) on securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(328,904)			(32,037)	(328,904)	(32,037)
Current period other comprehensive income (loss)							(21,330)	(308,229)
Ending balance	(350,234)			(340,266)			(350,234)	(340,266)
Unrealized gains (losses) on derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			1,991			(3,638)	1,991	(3,638)
Current period other comprehensive income (loss)							(827)	6,561
Ending balance	1,164			2,923			1,164	2,923
Retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(9,115)			(16,858)	(9,115)	(16,858)
Current period other comprehensive income (loss)							161	657
Ending balance	(8,954)			(16,201)			(8,954)	(16,201)
Hawaiian Electric Company, Inc. and Subsidiaries
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,371,889	2,358,884	2,344,170	2,289,595	2,276,884	2,261,899	2,344,170	2,261,899
Current period other comprehensive income (loss)	(77)	(44)	(45)	108	51	51	(166)	210
Ending balance	2,383,023	2,371,889	2,358,884	2,307,992	2,289,595	2,276,884	2,383,023	2,307,992
Hawaiian Electric Company, Inc. and Subsidiaries | AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,772	2,816	2,861	(3,178)	(3,229)	(3,280)	2,861	(3,280)
Current period other comprehensive income (loss)	(77)	(44)	(45)	108	51	51
Ending balance	2,695	$ 2,772	2,816	(3,070)	$ (3,178)	(3,229)	2,695	(3,070)
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 2,861			$ (3,280)	2,861	(3,280)
Current period other comprehensive income (loss)							(166)	210
Ending balance	$ 2,695			$ (3,070)			$ 2,695	$ (3,070)

Shareholders' equity - Reclassi

Shareholders' equity - Reclassification out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reclassifications out of accumulated other comprehensive income/(loss)
Revenues	$ (901,873)	$ (1,042,197)	$ (2,725,795)	$ (2,722,872)
Interest expense	32,629	26,626	91,259	75,940
Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	3,676	356	11,083	818
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Revenues	(794,987)	(955,971)	(2,419,539)	(2,483,636)
Total reclassifications	(43,959)	(50,262)	(137,265)	(141,804)
Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(77)	108	(166)	210
Net unrealized gains (losses) on available-for sale investment securities - amortization of unrealized holding losses on held-to-maturity securities | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Revenues	3,699	0	11,065	0
Net realized losses (gains) on derivatives qualifying as cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Interest expense	(47)	53	(143)	161
Amortization of prior service credit and net losses (gains) recognized during the period in net periodic benefit cost | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(446)	5,606	(1,160)	10,229
Amortization of prior service credit and net losses (gains) recognized during the period in net periodic benefit cost | Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(547)	5,411	(1,487)	9,782
Impact of D&Os of the PUC included in regulatory assets | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	470	(5,303)	1,321	(9,572)
Impact of D&Os of the PUC included in regulatory assets | Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	$ 470	$ (5,303)	$ 1,321	$ (9,572)

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 822,044	$ 990,338	$ 2,435,416	$ 2,527,153
Total revenues from other sources	79,829	51,859	290,379	195,719
Revenues	901,873	1,042,197	2,725,795	2,722,872
Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,067	12,058	36,370	36,851
Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	809,977	978,280	2,399,046	2,490,302
Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	257,790	306,417	753,207	790,424
Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	257,876	309,940	762,454	794,238
Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	284,607	351,763	855,396	886,733
Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,688	5,400	14,628	11,699
Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,067	12,058	36,370	36,851
Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,016	4,760	13,361	7,208
Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	(20,927)	(26,301)	3,716	(24,843)
Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	85,636	68,417	246,856	191,228
Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	3,271	936	8,490	3,771
Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	11,849	8,807	31,317	25,563
Electric utility
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	804,961	973,520	2,385,685	2,483,094
Total revenues from other sources	(9,974)	(17,549)	33,854	542
Revenues	794,987	955,971	2,419,539	2,483,636
Electric utility | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	804,961	973,520	2,385,685	2,483,094
Electric utility | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	257,790	306,417	753,207	790,424
Electric utility | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	257,876	309,940	762,454	794,238
Electric utility | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	284,607	351,763	855,396	886,733
Electric utility | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,688	5,400	14,628	11,699
Electric utility | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	(20,927)	(26,301)	3,716	(24,843)
Electric utility | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Electric utility | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Electric utility | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	10,953	8,752	30,138	25,385
Bank
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,067	12,058	36,370	36,851
Total revenues from other sources	88,907	69,353	255,346	194,999
Revenues	100,974	81,411	291,716	231,850
Bank | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,067	12,058	36,370	36,851
Bank | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,067	12,058	36,370	36,851
Bank | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Bank | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	85,636	68,417	246,856	191,228
Bank | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	3,271	936	8,490	3,771
Bank | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,016	4,760	13,361	7,208
Total revenues from other sources	896	55	1,179	178
Revenues	5,912	4,815	14,540	7,386
Other | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,016	4,760	13,361	7,208
Other | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,016	4,760	13,361	7,208
Other | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	$ 896	$ 55	$ 1,179	$ 178

Retirement benefits - Narrative

Retirement benefits - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Retirement benefits
Contributions made to defined benefit plans	$ 6	$ 32
Contributions expected to be paid in current year	8		$ 43
Expected payments for remainder of fiscal year	3		2
Retirement benefits expense	$ 33	35
Number of years for which regulatory asset/liability for each utility will be amortized, beginning with respective utility's next rate case (in years)	5 years
Defined contribution plan, expenses recognized	$ 7	6.5
Cash contributions by the employer to defined contribution plan	7.6	5.4
Hawaiian Electric Company, Inc. and Subsidiaries
Retirement benefits
Contributions made to defined benefit plans	6	31
Contributions expected to be paid in current year	8		42
Expected payments for remainder of fiscal year	1		$ 1
Retirement benefits expense	32	34
Defined contribution plan, expenses recognized	4.3	2.9
Cash contributions by the employer to defined contribution plan	$ 4.3	$ 2.9

Retirement benefits - Component

Retirement benefits - Components of Net Periodic Benefit Cost for Consolidated HEI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pension benefits
Defined Benefit Plan
Service cost	$ 11,418	$ 18,831	$ 34,210	$ 58,478
Interest cost	26,022	20,274	77,265	59,895
Expected return on plan assets	(35,238)	(35,163)	(105,630)	(105,827)
Amortization of net prior period gain	0	0	0	0
Amortization of net actuarial (gain) losses	138	7,782	515	20,376
Net periodic pension/benefit cost (return)	2,340	11,724	6,360	32,922
Impact of PUC D&Os	17,663	8,758	53,929	27,861
Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os)	20,003	20,482	60,289	60,783
Other benefits
Defined Benefit Plan
Service cost	385	624	1,072	1,937
Interest cost	2,075	1,593	6,389	4,868
Expected return on plan assets	(3,426)	(3,394)	(10,236)	(10,189)
Amortization of net prior period gain	(218)	(232)	(656)	(696)
Amortization of net actuarial (gain) losses	(518)	(3)	(1,416)	(9)
Net periodic pension/benefit cost (return)	(1,702)	(1,412)	(4,847)	(4,089)
Impact of PUC D&Os	1,536	1,289	4,385	3,725
Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os)	(166)	(123)	(462)	(364)
Hawaiian Electric Company, Inc. and Subsidiaries | Pension benefits
Defined Benefit Plan
Service cost	11,071	18,248	33,108	56,883
Interest cost	24,116	18,850	71,513	55,773
Expected return on plan assets	(33,029)	(33,314)	(98,972)	(100,405)
Amortization of net prior period gain	0	0	0	0
Amortization of net actuarial (gain) losses	(16)	7,519	21	19,769
Net periodic pension/benefit cost (return)	2,142	11,303	5,670	32,020
Impact of PUC D&Os	17,663	8,758	53,929	27,861
Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os)	19,805	20,061	59,599	59,881
Hawaiian Electric Company, Inc. and Subsidiaries | Other benefits
Defined Benefit Plan
Service cost	380	617	1,060	1,915
Interest cost	1,981	1,525	6,107	4,670
Expected return on plan assets	(3,374)	(3,343)	(10,081)	(10,035)
Amortization of net prior period gain	(218)	(232)	(654)	(694)
Amortization of net actuarial (gain) losses	(503)	0	(1,370)	0
Net periodic pension/benefit cost (return)	(1,734)	(1,433)	(4,938)	(4,144)
Impact of PUC D&Os	1,536	1,289	4,385	3,725
Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os)	$ (198)	$ (144)	$ (553)	$ (419)

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($)		3 Months Ended		9 Months Ended
	Mar. 01, 2014	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based compensation
Income tax benefit from compensation expense		$ 500,000	$ 400,000	$ 1,600,000	$ 1,500,000
Restricted stock units
Share-based compensation
Fair value of vested stock				3,700,000	4,200,000
Income tax benefit from compensation expense				800,000	600,000
Unrecognized share based compensation		5,200,000		$ 5,200,000
Weighted average period for recognition of unrecognized compensation cost (in years)				1 year 10 months 24 days
Long-term Incentive Plan
Share-based compensation
Payment award, low end of range				0%
Payment award, high end of range				200%
Measurement period for total return to shareholders (in years)				3 years
Award performance period (in years)				3 years
LTIP linked to TRS
Share-based compensation
Fair value of vested stock				$ 0	800,000
Income tax benefit from compensation expense					100,000
Unrecognized share based compensation		1,600,000		$ 1,600,000
Weighted average period for recognition of unrecognized compensation cost (in years)				1 year 2 months 12 days
LTIP awards linked to other performance conditions
Share-based compensation
Fair value of vested stock				$ 2,900,000	3,200,000
Income tax benefit from compensation expense				600,000	$ 400,000
Unrecognized share based compensation		$ 5,400,000		$ 5,400,000
Weighted average period for recognition of unrecognized compensation cost (in years)				1 year 2 months 12 days
Equity and Incentive Plan
Share-based compensation
Number of additional shares authorized (in shares)	1,500,000
Shares available for future issuance (in shares)		2,700,000		2,700,000
Number of share issuable upon vesting and achievement of performance goals (in shares)		700,000		700,000
Nonemployee Director Stock Plan
Share-based compensation
Shares available for future grant (in shares)		168,177		168,177

Share-based compensation - Shar

Share-based compensation - Share-Based Compensation Expense and Related Income Tax Benefit (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based compensation
Share-based compensation expense	$ 2.4	$ 1.7	$ 8.3	$ 7.3
Income tax benefit	0.5	0.4	1.6	1.5
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based compensation
Share-based compensation expense	0.7	0.6	2.5	2.1
Income tax benefit	$ 0.1	$ 0.1	$ 0.5	$ 0.5

Share-based compensation - Comm

Share-based compensation - Common Stock Granted to Nonemployee Directors (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based compensation
Income tax benefit	$ 0.5	$ 0.4	$ 1.6	$ 1.5
Common stock
Share-based compensation
Shares granted (in shares)	0	965	40,450	35,720
Fair value	$ 0	$ 0	$ 1.5	$ 1.5
Income tax benefit	$ 0	$ 0	$ 0.4	$ 0.4

Share-based compensation - Chan

Share-based compensation - Changes in Share Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restricted stock units
Shares
Outstanding, beginning of period (in shares)	199,130	208,953	182,528	233,448
Granted (in shares)	0	0	100,088	98,463
Vested (in shares)	0	(4,244)	(81,112)	(95,658)
Forfeited (in shares)	0	(16,540)	(2,374)	(48,084)
Outstanding, end of period (in shares)	199,130	188,169	199,130	188,169
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0	$ 0	$ 4.2	$ 4.1
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 41.22	$ 39.71	$ 39.75	$ 38.10
Granted (in dollars per share)	0	0	42.41	41.31
Vested (in dollars per share)	0	39.49	39.37	37.73
Forfeited (in dollars per share)	0	39.99	41.79	39.19
Outstanding, end of period (in dollars per share)	$ 41.22	$ 39.69	$ 41.22	$ 39.69
LTIP linked to TRS
Shares
Outstanding, beginning of period (in shares)	79,284	76,730	71,574	90,974
Granted (in shares)	0	0	27,123	26,469
Vested (in shares)	0	0	(18,691)	(29,042)
Forfeited (in shares)	0	(4,829)	(722)	(16,500)
Outstanding, end of period (in shares)	79,284	71,901	79,284	71,901
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0	$ 0	$ 1.5	$ 1.5
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 50.28	$ 47.74	$ 47.67	$ 42.86
Granted (in dollars per share)	0	0	55.98	54.92
Vested (in dollars per share)	0	0	48.62	41.07
Forfeited (in dollars per share)	0	48.52	48.92	44.33
Outstanding, end of period (in dollars per share)	$ 50.28	$ 47.69	$ 50.28	$ 47.69
LTIP awards linked to other performance conditions
Shares
Outstanding, beginning of period (in shares)	357,477	293,711	309,589	306,342
Granted (in shares)	0	0	108,499	105,860
Vested (in shares)	0	0	(62,778)	(71,807)
Increase above target (in shares)	4,277	0	10,278	0
Forfeited (in shares)	0	(19,316)	(3,834)	(66,000)
Outstanding, end of period (in shares)	361,754	274,395	361,754	274,395
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0	$ 0	$ 4.6	$ 4.4
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 38.78	$ 39.91	$ 39.50	$ 38.42
Granted (in dollars per share)	0	0	42.41	41.31
Vested (in dollars per share)	0	0	48.07	37.68
Increase above target (in dollars per share)	38.02	0	37.77	0
Forfeited (in dollars per share)	0	38.60	43.53	37.31
Outstanding, end of period (in dollars per share)	$ 39.17	$ 40	$ 39.17	$ 40

Share-based compensation - Fair

Share-based compensation - Fair Value Assumptions (Details) - LTIP linked to TRS - $ / shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free interest rate	4.19%	1.71%
Expected life in years	3 years	3 years
Expected volatility	33.10%	31%
Range of expected volatility for Peer Group, minimum rate	28.70%	25.40%
Range of expected volatility for Peer Group, maximum rate	38.80%	76.70%
Grant date fair value (in dollars per share)	$ 55.98	$ 54.92

Income taxes (Details)

Income taxes (Details)	9 Months Ended
	Sep. 30, 2023
Income Tax Contingency [Line Items]
Effective income tax, percent	20%
Hawaiian Electric Company, Inc. and Subsidiaries
Income Tax Contingency [Line Items]
Effective income tax, percent	22%

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	$ 104	$ 59
Income taxes paid (including refundable credits)	28	26
Income taxes refunded (including refundable credits)	1	2
Supplemental disclosures of noncash activities
Estimated fair value of noncash contributions in aid of construction (investing)	9	6
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	45	34
Increase related to an acquisition (investing)	0	15
Right-of-use assets obtained in exchange for finance lease obligations (financing)	76	48
Right-of-use assets obtained in exchange for operating lease obligations (investing)	1	48
Property, plant, equipment and other assets received in exchange for the assumption of debt associated with a business acquisition (investing)	0	68
Debt, lease liabilities and other liabilities assumed in business acquisition (financing)	0	68
Common stock issued (gross) for director and executive/management compensation (financing)	8	10
Obligations to fund low income housing investments (investing)	7	9
Loans transferred from held for investment to held for sale (investing)	95	0
Transfer of retail repurchase agreements to deposit liabilities (financing)	98	0
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	45	40
Income taxes paid (including refundable credits)	38	46
Income taxes refunded (including refundable credits)	2	0
Supplemental disclosures of noncash activities
Estimated fair value of noncash contributions in aid of construction (investing)	9	6
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	43	31
Increase related to an acquisition (investing)	0	15
Right-of-use assets obtained in exchange for finance lease obligations (financing)	76	48
Right-of-use assets obtained in exchange for operating lease obligations (investing)	$ 0	$ 44

Fair value measurements - Carry

Fair value measurements - Carrying or Notional Amount, Fair Value and Placement in the Fair Value Hierarchy of the Company’s Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financial assets
Available-for-sale investment securities	$ 1,266,412	$ 1,429,667
Held-to-maturity investment securities	1,052,221
Financial liabilities
Short-term borrowings—other than bank	0	172,568
Other bank borrowings	750,000	695,120
Carrying or notional amount
Financial assets
Available-for-sale investment securities	1,266,412	1,429,667
Held-to-maturity investment securities	1,212,005	1,251,747
Loans, net	6,116,811	5,907,514
Mortgage servicing rights	8,376	9,047
Derivative assets	19,044	16,220
Financial liabilities
Deposit liabilities	1,050,692	611,718
Short-term borrowings—other than bank		172,568
Other bank borrowings	750,000	695,120
Long-term debt, net	2,944,589	2,384,980
Derivative liabilities	22,949	22,949
Carrying or notional amount | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings		87,967
Long-term debt, net	2,034,040	1,684,816
Estimated fair value
Financial assets
Available-for-sale investment securities	1,266,412	1,429,667
Held-to-maturity investment securities	1,052,221	1,150,971
Loans, net	5,543,986	5,454,202
Mortgage servicing rights	18,867	17,646
Derivative assets	1,365	1,348
Financial liabilities
Deposit liabilities	1,035,501	597,617
Short-term borrowings—other than bank		172,568
Other bank borrowings	743,366	695,095
Long-term debt, net	2,120,573	2,122,605
Derivative liabilities	1,344	472
Estimated fair value | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings		87,967
Long-term debt, net	1,400,901	1,487,496
Estimated fair value | Quoted prices in active markets for identical assets (Level 1)
Financial assets
Available-for-sale investment securities	0	0
Held-to-maturity investment securities	0	0
Loans, net	0	0
Mortgage servicing rights	0	0
Derivative assets	15	18
Financial liabilities
Deposit liabilities	0	0
Short-term borrowings—other than bank		0
Other bank borrowings	0	0
Long-term debt, net	0	0
Derivative liabilities	0	0
Estimated fair value | Quoted prices in active markets for identical assets (Level 1) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings		0
Long-term debt, net	0	0
Estimated fair value | Significant  other observable  inputs (Level 2)
Financial assets
Available-for-sale investment securities	1,251,918	1,414,765
Held-to-maturity investment securities	1,052,221	1,150,971
Loans, net	2,174	821
Mortgage servicing rights	0	0
Derivative assets	1,350	1,330
Financial liabilities
Deposit liabilities	1,035,501	597,617
Short-term borrowings—other than bank		172,568
Other bank borrowings	743,366	695,095
Long-term debt, net	2,120,573	2,122,605
Derivative liabilities	1,344	472
Estimated fair value | Significant  other observable  inputs (Level 2) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings		87,967
Long-term debt, net	1,400,901	1,487,496
Estimated fair value | Significant unobservable inputs (Level 3)
Financial assets
Available-for-sale investment securities	14,494	14,902
Held-to-maturity investment securities	0	0
Loans, net	5,541,812	5,453,381
Mortgage servicing rights	18,867	17,646
Derivative assets	0	0
Financial liabilities
Deposit liabilities	0	0
Short-term borrowings—other than bank		0
Other bank borrowings	0	0
Long-term debt, net	0	0
Derivative liabilities	0	0
Estimated fair value | Significant unobservable inputs (Level 3) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings		0
Long-term debt, net	$ 0	$ 0

Fair value measurements - Asset

Fair value measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair value measurements on a recurring basis
Available-for-sale investment securities	$ 1,266,412	$ 1,429,667
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1)
Derivative assets
Derivative assets	15	18
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank | Forward commitments
Derivative assets
Derivative assets	15	18
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Interest rate swap (Other segment) | Interest rate swap
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2)
Derivative assets
Derivative assets	1,350	1,330
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	1,251,918	1,414,765
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	54	9
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Interest rate swap (Other segment) | Interest rate swap
Derivative assets
Derivative assets	1,296	1,321
Derivative liabilities
Derivative liabilities	1,344	472
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	1,145,167	1,292,968
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	75,000	81,063
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	31,751	40,734
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3)
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	14,494	14,902
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Interest rate swap (Other segment) | Interest rate swap
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	$ 14,494	$ 14,902

Fair value measurements - Chang

Fair value measurements - Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Mortgage revenue bonds - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 14,630	$ 15,165	$ 14,902	$ 15,427
Principal payments received	(136)	(132)	(408)	(394)
Purchases	0	0	0	0
Unrealized gain (loss) included in other comprehensive income	0	0	0	0
Ending balance	$ 14,494	$ 15,033	$ 14,494	$ 15,033

Fair value measurements - Narra

Fair value measurements - Narrative (Details)	9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Fair value measurements on a nonrecurring basis | American Savings Bank (ASB)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Adjustments to fair value of loans held for sale	$ 0	$ 0
Weighted average discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage revenue bonds, measurement input	0.0565