Hawaiian Electric Company, Inc. PFD K 4.65% (HAWLL) 10-Q 5 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 27, 2017
Entity Information [Line Items]
Entity Registrant Name	HAWAIIAN ELECTRIC INDUSTRIES INC
Entity Central Index Key	354,707
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		108,750,455
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Hawaiian Electric Company, Inc. and Subsidiaries
Entity Information [Line Items]
Entity Registrant Name	HAWAIIAN ELECTRIC COMPANY INC
Entity Central Index Key	46,207
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		16,019,785
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues
Total revenues	$ 591,562	$ 550,960
Expenses
Other	523,700	482,109
Operating income (loss)
Total operating income	67,862	68,851
Interest expense, net—other than on deposit liabilities and other bank borrowings	(19,568)	(20,126)
Allowance for borrowed funds used during construction	889	662
Allowance for equity funds used during construction	2,399	1,739
Income before income taxes	51,582	51,126
Income taxes	16,916	18,301
Net income	34,666	32,825
Preferred stock dividends of subsidiaries	473	473
Net income for common stock	$ 34,193	$ 32,352
Basic earnings per common share (in dollars per share)	$ 0.31	$ 0.30
Diluted earnings per common share (in dollars per share)	0.31	0.30
Dividends per common share (in dollars per share)	$ 0.31	$ 0.31
Weighted-average number of common shares outstanding (in shares)	108,674	107,620
Net effect of potentially dilutive shares (in shares)	184	161
Weighted-average shares assuming dilution (in shares)	108,858	107,781
Electric utility
Revenues
Total revenues	$ 518,611	$ 482,052
Expenses
Other	469,673	426,726
Operating income (loss)
Total operating income	48,938	55,326
Income before income taxes	34,722	40,419
Income taxes	12,758	14,553
Net income	21,964	25,866
Preferred stock dividends of subsidiaries	499	499
Net income for common stock	21,465	25,367
Bank
Revenues
Total revenues	72,856	68,840
Expenses
Other	48,696	49,246
Operating income (loss)
Total operating income	24,160	19,594
Income before income taxes	24,160	19,594
Income taxes	8,347	6,921
Net income	15,813	12,673
Preferred stock dividends of subsidiaries	0	0
Net income for common stock	15,813	12,673
Other
Revenues
Total revenues	95	68
Expenses
Other	5,331	6,137
Operating income (loss)
Total operating income	(5,236)	(6,069)
Income before income taxes	(7,300)	(8,887)
Income taxes	(4,189)	(3,173)
Net income	(3,111)	(5,714)
Preferred stock dividends of subsidiaries	(26)	(26)
Net income for common stock	$ (3,085)	$ (5,688)

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income for common stock	$ 34,193	$ 32,352
Net unrealized gains on available-for-sale investment securities:
Net unrealized gains on available-for-sale investment securities arising during the period, net of taxes of $148 and $4,905, respectively	223	7,428
Derivatives qualifying as cash flow hedges:
Effective portion of foreign currency hedge net unrealized gains arising during the period, net of taxes of nil and $638, respectively	0	1,002
Reclassification adjustment to net income, net of tax benefits of $289 and $35, respectively	454	54
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $2,502 and $2,257, respectively	3,921	3,538
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $2,301 and $2,052, respectively	(3,613)	(3,222)
Other comprehensive income, net of taxes	985	8,800
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 35,178	$ 41,152

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net unrealized gains (losses) on securities arising during the period, taxes (benefits)	$ 148	$ 4,905
Effective portion of foreign currency hedge net unrealized gain, taxes	0	638
Less: reclassification adjustment to net income, net of (taxes) benefits	(289)	(35)
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	2,502	2,257
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, taxes	$ 2,301	$ 2,052

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 234,230	$ 278,452
Accounts receivable and unbilled revenues, net	252,416	237,950
Available-for-sale investment securities, at fair value	1,228,922	1,105,182
Stock in Federal Home Loan Bank, at cost	11,706	11,218
Loans receivable held for investment, net	4,669,274	4,683,160
Loans held for sale, at lower of cost or fair value	10,454	18,817
Property, plant and equipment, net of accumulated depreciation of $2,475,562 and $2,444,348 at March 31, 2017 and December 31, 2016, respectively	4,641,514	4,603,465
Regulatory assets	945,409	957,451
Other	467,160	447,621
Goodwill	82,190	82,190
Total assets	12,543,275	12,425,506
Liabilities
Accounts payable	160,819	143,279
Interest and dividends payable	27,407	25,225
Deposit liabilities	5,675,090	5,548,929
Short-term borrowings—other than bank	2,300	0
Other bank borrowings	200,154	192,618
Long-term debt, net—other than bank	1,618,651	1,619,019
Deferred income taxes	740,506	728,806
Regulatory liabilities	419,940	410,693
Contributions in aid of construction	541,574	543,525
Defined benefit pension and other postretirement benefit plans liability	632,964	638,854
Other	423,989	473,512
Total liabilities	10,443,394	10,324,460
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293	34,293
Commitments and contingencies
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: 108,745,265 shares and 108,583,413 shares at March 31, 2017 and December 31, 2016, respectively	1,658,280	1,660,910
Retained earnings	439,452	438,972
Accumulated other comprehensive loss, net of tax benefits	(32,144)	(33,129)
Total shareholders’ equity	2,065,588	2,066,753
Total liabilities and shareholders’ equity	$ 12,543,275	$ 12,425,506

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Property, plant and equipment, accumulated depreciation	$ 2,475,562	$ 2,444,348
Preferred stock, authorized shares (in shares)	10,000,000	10,000,000
Preferred stock, issued shares (in shares)	0	0
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, issued shares (in shares)	108,745,265	108,583,413
Common stock, outstanding shares (in shares)	108,745,265	108,583,413

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Changes in Shareholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Common stock	Retained Earnings	Accumulated other comprehensive income (loss)
Beginning Balance at Dec. 31, 2015	$ 1,927,640	$ 1,629,136	$ 324,766	$ (26,262)
Beginning Balance (in shares) at Dec. 31, 2015		107,460,000
Increase (decrease) in stockholders' equity
Net income for common stock	32,352		32,352
Other comprehensive income, net of taxes	8,800			8,800
Issuance of common stock, net of expenses	6,754	$ 6,754
Issuance of common stock, net of expenses (in shares)		416,000
Common stock dividends	(33,367)		(33,367)
Ending Balance at Mar. 31, 2016	1,942,179	$ 1,635,890	323,751	(17,462)
Ending Balance (in shares) at Mar. 31, 2016		107,876,000
Beginning Balance at Dec. 31, 2016	$ 2,066,753	$ 1,660,910	438,972	(33,129)
Beginning Balance (in shares) at Dec. 31, 2016	108,583,413	108,583,000
Increase (decrease) in stockholders' equity
Net income for common stock	$ 34,193		34,193
Other comprehensive income, net of taxes	985			985
Issuance of common stock, net of expenses	(2,630)	$ (2,630)
Issuance of common stock, net of expenses (in shares)		162,000
Common stock dividends	(33,713)		(33,713)
Ending Balance at Mar. 31, 2017	$ 2,065,588	$ 1,658,280	$ 439,452	$ (32,144)
Ending Balance (in shares) at Mar. 31, 2017	108,745,265	108,745,000

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net income	$ 34,666	$ 32,825
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	50,051	48,594
Other amortization	2,372	1,928
Provision for loan losses	3,907	4,766
Loans receivable originated and purchased, held for sale	(35,725)	(42,719)
Proceeds from sale of loans receivable, held for sale	40,588	40,363
Deferred income taxes	10,096	13,008
Share-based compensation expense	1,056	1,013
Allowance for equity funds used during construction	(2,399)	(1,739)
Other	(347)	1,702
Changes in assets and liabilities
Decrease (increase) in accounts receivable and unbilled revenues, net	(12,337)	28,108
Decrease (increase) in fuel oil stock	(7,444)	22,812
Decrease in regulatory assets	5,909	1,585
Increase in accounts, interest and dividends payable	71,846	30,135
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(42,175)	(14,343)
Increase in defined benefit pension and other postretirement benefit plans liability	1,012	137
Change in other assets and liabilities	(27,142)	2,797
Net cash provided by operating activities	93,934	170,972
Cash flows from investing activities
Available-for-sale investment securities purchased	(171,878)	(122,387)
Principal repayments on available-for-sale investment securities	48,200	48,819
Purchase of stock from Federal Home Loan Bank	(488)	(1,373)
Redemption of stock from Federal Home Loan Bank	0	833
Net decrease (increase) in loans held for investment	890	(28,137)
Proceeds from sale of commercial loans	13,493	0
Proceeds from sale of real estate acquired in settlement of loans	185	232
Capital expenditures	(138,185)	(127,818)
Contributions in aid of construction	10,650	13,761
Other	5,709	819
Net cash used in investing activities	(231,424)	(215,251)
Cash flows from financing activities
Net increase in deposit liabilities	126,161	114,678
Net increase (decrease) in short-term borrowings with original maturities of three months or less	2,300	(7,578)
Net increase in retail repurchase agreements	21,071	19,041
Proceeds from other bank borrowings	0	20,835
Repayments of other bank borrowings	(13,534)	(39,369)
Proceeds from issuance of long-term debt	0	75,000
Repayment of long-term debt	0	(75,000)
Withheld shares for employee taxes on vested share-based compensation	(3,687)	(2,335)
Net proceeds from issuance of common stock	0	3,022
Common stock dividends	(33,713)	(27,716)
Preferred stock dividends of subsidiaries	(473)	(473)
Other	(4,857)	(1,561)
Net cash provided by financing activities	93,268	78,544
Net increase (decrease) in cash and cash equivalents	(44,222)	34,265
Cash and cash equivalents, beginning of period	278,452	300,478
Cash and cash equivalents, end of period	$ 234,230	$ 334,743

Condensed Consolidated Stateme9

Condensed Consolidated Statements of Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Total revenues	$ 591,562	$ 550,960
Expenses
Purchased power	127,000	116,000
Total expenses	523,700	482,109
Total operating income	67,862	68,851
Allowance for equity funds used during construction	2,399	1,739
Allowance for borrowed funds used during construction	889	662
Income taxes	16,916	18,301
Net income	34,666	32,825
Preferred stock dividends of subsidiaries	473	473
Net income for common stock	34,193	32,352
Hawaiian Electric Company, Inc. and Subsidiaries
Total revenues	518,611	482,052
Expenses
Fuel oil	144,270	113,740
Purchased power	127,124	115,859
Other operation and maintenance	100,240	103,908
Depreciation	48,216	46,781
Taxes, other than income taxes	49,823	46,438
Total expenses	469,673	426,726
Total operating income	48,938	55,326
Allowance for equity funds used during construction	2,399	1,739
Interest expense and other charges, net	(17,504)	(17,308)
Allowance for borrowed funds used during construction	889	662
Income before income taxes	34,722	40,419
Income taxes	12,758	14,553
Net income	21,964	25,866
Preferred stock dividends of subsidiaries	229	229
Net income attributable to Hawaiian Electric	21,735	25,637
Preferred stock dividends of Hawaiian Electric	270	270
Net income for common stock	$ 21,465	$ 25,367

Condensed Consolidated Statem10

Condensed Consolidated Statements of Comprehensive Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income for common stock	$ 34,193	$ 32,352
Derivatives qualifying as cash flow hedges:
Effective portion of foreign currency hedge net unrealized gains arising during the period, net of taxes of nil and $638, respectively	0	1,002
Reclassification adjustment to net income, net of tax benefits of $289 and nil, respectively	454	54
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $2,304 and $2,061, respectively	3,921	3,538
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $2,301 and $2,052, respectively	(3,613)	(3,222)
Other comprehensive income, net of taxes	985	8,800
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	35,178	41,152
Hawaiian Electric Company, Inc. and Subsidiaries
Net income for common stock	21,465	25,367
Derivatives qualifying as cash flow hedges:
Effective portion of foreign currency hedge net unrealized gains arising during the period, net of taxes of nil and $638, respectively	0	1,002
Reclassification adjustment to net income, net of tax benefits of $289 and nil, respectively	454	0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $2,304 and $2,061, respectively	3,618	3,236
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $2,301 and $2,052, respectively	(3,613)	(3,222)
Other comprehensive income, net of taxes	459	1,016
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 21,924	$ 26,383

Condensed Consolidated Statem11

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - HECO - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Effective portion of foreign currency hedge net unrealized gain, taxes	$ 0	$ 638
Less: reclassification adjustment to net income, net of (taxes) benefits	(289)	(35)
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	2,502	2,257
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, taxes	2,301	2,052
Hawaiian Electric Company, Inc. and Subsidiaries
Effective portion of foreign currency hedge net unrealized gain, taxes	0	638
Less: reclassification adjustment to net income, net of (taxes) benefits	(289)	0
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	2,304	2,061
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, taxes	$ 2,301	$ 2,052

Condensed Consolidated Balanc12

Condensed Consolidated Balance Sheets (unaudited) - HECO - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Utility property, plant and equipment
Total property, plant and equipment, net	$ 4,641,514	$ 4,603,465
Current assets
Cash and cash equivalents	234,230	278,452
Other long-term assets
Total assets	12,543,275	12,425,506
Capitalization
Retained earnings	439,452	438,972
Accumulated other comprehensive income (loss), net of taxes	(32,144)	(33,129)
Total shareholders’ equity	2,065,588	2,066,753
Cumulative preferred stock — not subject to mandatory redemption	0	0
Commitments and contingencies
Current liabilities
Interest and preferred dividends payable	27,407	25,225
Deferred credits and other liabilities
Deferred income taxes	740,506	728,806
Contributions in aid of construction	541,574	543,525
Total liabilities and shareholders’ equity	12,543,275	12,425,506
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Land	53,157	53,153
Plant and equipment	6,651,094	6,605,732
Less accumulated depreciation	(2,399,222)	(2,369,282)
Construction in progress	230,072	211,742
Utility property, plant and equipment, net	4,535,101	4,501,345
Nonutility property, plant and equipment, less accumulated depreciation of $1,232 at March 31, 2017 and December 31, 2016	7,410	7,407
Total property, plant and equipment, net	4,542,511	4,508,752
Current assets
Cash and cash equivalents	13,207	74,286
Customer accounts receivable, net	117,990	123,688
Accrued unbilled revenues, net	97,632	91,693
Other accounts receivable, net	20,388	5,233
Fuel oil stock, at average cost	73,874	66,430
Materials and supplies, at average cost	57,045	53,679
Prepayments and other	28,934	23,100
Regulatory assets	81,952	66,032
Total current assets	491,022	504,141
Other long-term assets
Regulatory assets	863,457	891,419
Unamortized debt expense	183	208
Other	71,869	70,908
Total other long-term assets	935,509	962,535
Total assets	5,969,042	5,975,428
Capitalization
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 16,019,785 shares at March 31, 2017 and December 31, 2016)	106,818	106,818
Premium on capital stock	601,491	601,491
Retained earnings	1,091,323	1,091,800
Accumulated other comprehensive income (loss), net of taxes	137	(322)
Total shareholders’ equity	1,799,769	1,799,787
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,318,871	1,319,260
Total capitalization	3,152,933	3,153,340
Commitments and contingencies
Current liabilities
Short-term borrowings from affiliates	1,500	0
Accounts payable	129,863	117,814
Interest and preferred dividends payable	26,174	22,838
Taxes accrued	131,330	172,730
Regulatory liabilities	2,691	3,762
Other	56,235	55,221
Total current liabilities	347,793	372,365
Deferred credits and other liabilities
Deferred income taxes	746,017	733,659
Regulatory liabilities	417,249	406,931
Unamortized tax credits	91,012	88,961
Defined benefit pension and other postretirement benefit plans liability	593,856	599,726
Other	78,608	76,921
Total deferred credits and other liabilities	1,926,742	1,906,198
Contributions in aid of construction	541,574	543,525
Total liabilities and shareholders’ equity	$ 5,969,042	$ 5,975,428

Condensed Consolidated Balanc13

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - HECO - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, outstanding shares (in shares)	108,745,265	108,583,413
Hawaiian Electric Company, Inc. and Subsidiaries
Nonutility property, plant and equipment, accumulated depreciation	$ 1,232	$ 1,232
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, outstanding shares (in shares)	16,019,785	16,019,785

Condensed Consolidated Statem14

Condensed Consolidated Statements of Changes in Common Stock Equity (unaudited) - HECO - USD ($) $ in Thousands	Total	Retained Earnings	Accumulated other comprehensive income (loss)	Hawaiian Electric Company, Inc. and Subsidiaries	Hawaiian Electric Company, Inc. and SubsidiariesCommon stock	Hawaiian Electric Company, Inc. and SubsidiariesPremium on capital stock	Hawaiian Electric Company, Inc. and SubsidiariesRetained Earnings	Hawaiian Electric Company, Inc. and SubsidiariesAccumulated other comprehensive income (loss)
Beginning Balance at Dec. 31, 2015	$ 1,927,640	$ 324,766	$ (26,262)	$ 1,728,325	$ 105,388	$ 578,930	$ 1,043,082	$ 925
Beginning Balance (in shares) at Dec. 31, 2015					15,805,000
Increase (decrease) in stockholders' equity
Net income for common stock	32,352	32,352		25,367			25,367
Other comprehensive income, net of taxes	8,800		8,800	1,016				1,016
Common stock dividends	(33,367)	(33,367)		(23,400)			(23,400)
Common stock issuance expenses				(4)		(4)
Ending Balance at Mar. 31, 2016	1,942,179	323,751	(17,462)	1,731,304	$ 105,388	578,926	1,045,049	1,941
Ending Balance (in shares) at Mar. 31, 2016					15,805,000
Beginning Balance at Dec. 31, 2016	$ 2,066,753	438,972	(33,129)	1,799,787	$ 106,818	601,491	1,091,800	(322)
Beginning Balance (in shares) at Dec. 31, 2016	108,583,413				16,020,000
Increase (decrease) in stockholders' equity
Net income for common stock	$ 34,193	34,193		21,465			21,465
Other comprehensive income, net of taxes	985		985	459				459
Common stock dividends	(33,713)	(33,713)		(21,942)			(21,942)
Ending Balance at Mar. 31, 2017	$ 2,065,588	$ 439,452	$ (32,144)	$ 1,799,769	$ 106,818	$ 601,491	$ 1,091,323	$ 137
Ending Balance (in shares) at Mar. 31, 2017	108,745,265				16,020,000

Condensed Consolidated Statem15

Condensed Consolidated Statements of Cash Flows (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net income	$ 34,666	$ 32,825
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	50,051	48,594
Other amortization	2,372	1,928
Deferred income taxes	10,096	13,008
Allowance for equity funds used during construction	(2,399)	(1,739)
Other	(347)	1,702
Changes in assets and liabilities
Decrease (increase) in fuel oil stock	(7,444)	22,812
Decrease in regulatory assets	5,909	1,585
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(42,175)	(14,343)
Increase in defined benefit pension and other postretirement benefit plans liability	1,012	137
Change in other assets and liabilities	(27,142)	2,797
Net cash provided by operating activities	93,934	170,972
Cash flows from investing activities
Capital expenditures	(138,185)	(127,818)
Contributions in aid of construction	10,650	13,761
Other	5,709	819
Net cash used in investing activities	(231,424)	(215,251)
Cash flows from financing activities
Common stock dividends	(33,713)	(27,716)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	2,300	(7,578)
Other	(4,857)	(1,561)
Net cash provided by financing activities	93,268	78,544
Net increase (decrease) in cash and cash equivalents	(44,222)	34,265
Cash and cash equivalents, beginning of period	278,452	300,478
Cash and cash equivalents, end of period	234,230	334,743
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	21,964	25,866
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	48,216	46,781
Other amortization	1,949	1,774
Deferred income taxes	11,064	13,558
Allowance for equity funds used during construction	(2,399)	(1,739)
Other	436	1,702
Changes in assets and liabilities
Decrease (increase) in accounts receivable	(7,328)	28,297
Increase in accrued unbilled revenues	(5,939)	(858)
Decrease (increase) in fuel oil stock	(7,444)	22,812
Decrease (increase) in materials and supplies	(3,366)	173
Decrease in regulatory assets	5,909	1,585
Increase in accounts payable	64,174	27,766
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(43,984)	(42,018)
Increase in defined benefit pension and other postretirement benefit plans liability	264	205
Change in other assets and liabilities	(4,694)	20,967
Net cash provided by operating activities	78,822	146,871
Cash flows from investing activities
Capital expenditures	(131,655)	(125,183)
Contributions in aid of construction	10,650	13,761
Other	2,702	45
Net cash used in investing activities	(118,303)	(111,377)
Cash flows from financing activities
Common stock dividends	(21,942)	(23,400)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(499)	(499)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	1,500	12,998
Other	(657)	0
Net cash provided by financing activities	(21,598)	(10,901)
Net increase (decrease) in cash and cash equivalents	(61,079)	24,593
Cash and cash equivalents, beginning of period	74,286	24,449
Cash and cash equivalents, end of period	$ 13,207	$ 49,042

Basis of presentation

Basis of presentation	3 Months Ended
	Mar. 31, 2017
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 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, 2016 . 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 March 31, 2017 and December 31, 2016 and the results of their operations and their cash flows for the three months ended March 31, 2017 and 2016 . 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.

Termination of proposed merger

Termination of proposed merger and other matters	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Termination of proposed merger and other matters	Termination of proposed merger and other matters On December 3, 2014, HEI, NextEra Energy, Inc. (NEE) and two subsidiaries of NEE entered into an Agreement and Plan of Merger (the Merger Agreement), under which Hawaiian Electric was to become a subsidiary of NEE. The Merger Agreement contemplated that, prior to the Merger, HEI would distribute to its shareholders all of the common stock of ASB Hawaii, Inc. (ASB Hawaii), the parent company of ASB (such distribution referred to as the Spin-Off). The closing of the Merger was subject to various conditions, including receipt of regulatory approval from the PUC. In July 2016: (1) the PUC dismissed NEE and Hawaiian Electric’s application requesting approval of the proposed Merger, (2) NEE terminated the Merger Agreement and (3) pursuant to the terms of the Merger Agreement, NEE paid HEI a $90 million termination fee and $5 million for the reimbursement of expenses associated with the transaction. In 2016, the Company recognized $60 million of net income ( $2 million of net loss in each of the first and second quarters and $64 million of net income in the third quarter), comprised of the termination fee ( $55 million ), reimbursements of expenses from NEE and insurance ( $3 million ), and additional tax benefits on the previously non-tax-deductible merger- and Spin-Off-related expenses incurred through June 30, 2016 ( $8 million ), less merger- and Spin-Off-related expenses incurred in 2016 ( $6 million ) (all net of tax impacts). The Spin-Off of ASB Hawaii was cancelled as it was cross-conditioned on the merger consummation. In May 2016, the Utilities had filed an application for approval of an liquefied natural gas (LNG) supply and transport agreement and LNG-related capital equipment, which application was conditioned on the PUC’s approval of the proposed Merger. Subsequently, the Utilities terminated the LNG agreement and withdrew the application. In 2016, Hawaiian Electric recognized expenses related to the terminated LNG agreement of $1 million , net of tax benefits, in each of the first and second quarters.

Segment financial information

Segment financial information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment financial information	Segment financial information (in thousands) Electric utility Bank Other Total Three months ended March 31, 2017 Revenues from external customers $ 518,566 $ 72,856 $ 140 $ 591,562 Intersegment revenues (eliminations) 45 — (45 ) — Revenues $ 518,611 $ 72,856 $ 95 $ 591,562 Income (loss) before income taxes $ 34,722 $ 24,160 $ (7,300 ) $ 51,582 Income taxes (benefit) 12,758 8,347 (4,189 ) 16,916 Net income (loss) 21,964 15,813 (3,111 ) 34,666 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock $ 21,465 $ 15,813 $ (3,085 ) $ 34,193 Total assets (at March 31, 2017) $ 5,969,042 $ 6,559,646 $ 14,587 $ 12,543,275 Three months ended March 31, 2016 Revenues from external customers $ 482,045 $ 68,840 $ 75 $ 550,960 Intersegment revenues (eliminations) 7 — (7 ) — Revenues $ 482,052 $ 68,840 $ 68 $ 550,960 Income (loss) before income taxes $ 40,419 $ 19,594 $ (8,887 ) $ 51,126 Income taxes (benefit) 14,553 6,921 (3,173 ) 18,301 Net income (loss) 25,866 12,673 (5,714 ) 32,825 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock $ 25,367 $ 12,673 $ (5,688 ) $ 32,352 Total assets (at December 31, 2016) $ 5,975,428 $ 6,421,357 $ 28,721 $ 12,425,506 Intercompany electricity sales of the Utilities to the bank 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. Bank fees that ASB charges the Utilities and “other” segments are not eliminated because those segments would pay fees to another financial institution if they were to bank with another institution and the profit on such fees is nominal.

Electric utility segment

Electric utility segment	3 Months Ended
	Mar. 31, 2017
Electric utility subsidiary [Abstract]
Electric utility segment	Electric utility segment Revenue taxes. The Utilities’ revenues include amounts for the recovery of various Hawaii state revenue taxes. Revenue taxes are generally recorded as an expense in the period the related revenues are recognized. However, the Utilities’ revenue tax payments to the taxing authorities in the period are based on the prior year’s billed revenues (in the case of public service company taxes and PUC fees) or on the current year’s cash collections from electric sales (in the case of franchise taxes). The Utilities included in the three months ended March 31, 2017 and 2016 approximately $46 million and $43 million , respectively, of revenue taxes in “revenues” and in “taxes, other than income taxes” expense. Recent tax developments. The extension of bonus depreciation under the “Protecting Americans from Tax Hikes (PATH) Act of 2015” continues to be the most significant recent tax change. The PATH Act provides 50% bonus depreciation through 2017, phases down the percentage to 40% in 2018 and 30% in 2019 and then terminates bonus depreciation thereafter. Tax depreciation is expected to increase by approximately $121 million in 2017 due to bonus depreciation, which has the effect of increasing accumulated deferred tax liabilities. However, the rate of growth of accumulated deferred tax liabilities is decreasing over time as book depreciation “catches up” with the tax depreciation taken in the past. Congressional action on tax reform for 2017 has not progressed sufficiently to estimate the impact of any such proposed reform on the Utilities’ future results of operation and financial condition. Unconsolidated variable interest entities. HECO Capital Trust III . HECO Capital Trust III (Trust III) was created and exists for the exclusive purposes of (i) issuing in March 2004 2,000,000 6.50% Cumulative Quarterly Income Preferred Securities, Series 2004 (2004 Trust Preferred Securities) ( $50 million aggregate liquidation preference) to the public and trust common securities ( $1.5 million aggregate liquidation preference) to Hawaiian Electric, (ii) investing the proceeds of these trust securities in 2004 Debentures issued by Hawaiian Electric in the principal amount of $31.5 million and issued by Hawaii Electric Light and Maui Electric each in the principal amount of $10 million , (iii) making distributions on these trust securities and (iv) engaging in only those other activities necessary or incidental thereto. The 2004 Trust Preferred Securities are mandatorily redeemable at the maturity of the underlying debt on March 18, 2034, which maturity may be extended to no later than March 18, 2053; and are currently redeemable at the issuer’s option without premium. The 2004 Debentures, together with the obligations of the Utilities under an expense agreement and Hawaiian Electric’s obligations under its trust guarantee and its guarantee of the obligations of Hawaii Electric Light and Maui Electric under their respective debentures, are the sole assets of Trust III. Taken together, Hawaiian Electric’s obligations under the Hawaiian Electric debentures, the Hawaiian Electric indenture, the subsidiary guarantees, the trust agreement, the expense agreement and trust guarantee provide, in the aggregate, a full, irrevocable and unconditional guarantee of payments of amounts due on the Trust Preferred Securities. Trust III has at all times been an unconsolidated subsidiary of Hawaiian Electric. Since Hawaiian Electric, as the holder of 100% of the trust common securities, does not absorb the majority of the variability of Trust III, Hawaiian Electric is not the primary beneficiary and does not consolidate Trust III in accordance with accounting rules on the consolidation of VIEs. Trust III’s balance sheets as of March 31, 2017 and December 31, 2016 each consisted of $51.5 million of 2004 Debentures; $50.0 million of 2004 Trust Preferred Securities; and $1.5 million of trust common securities. Trust III’s income statements for the three months ended March 31, 2017 consisted of $0.8 million of interest income received from the 2004 Debentures; $0.8 million of distributions to holders of the Trust Preferred Securities; and $25,000 of common dividends on the trust common securities to Hawaiian Electric. As long as the 2004 Trust Preferred Securities are outstanding, Hawaiian Electric is not entitled to receive any funds from Trust III other than pro-rata distributions, subject to certain subordination provisions, on the trust common securities. In the event of a default by Hawaiian Electric in the performance of its obligations under the 2004 Debentures or under its Guarantees, or in the event any of the Utilities elect to defer payment of interest on any of their respective 2004 Debentures, then Hawaiian Electric will be subject to a number of restrictions, including a prohibition on the payment of dividends on its common stock. Power purchase agreements . As of March 31, 2017 , the Utilities had five power purchase agreements (PPAs) for firm capacity and other PPAs with IPPs and Schedule Q providers (e.g., 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. Purchases from all IPPs were as follows: Three months ended March 31 (in millions) 2017 2016 Kalaeloa $ 40 $ 29 AES Hawaii 29 38 HPOWER 17 16 Puna Geothermal Venture 8 7 HEP 7 11 Other IPPs 1 26 15 Total IPPs $ 127 $ 116 1 Includes wind power, solar power, feed-in tariff projects and other PPAs. Some of the IPPs provided sufficient information for Hawaiian Electric to determine that the IPP was not a VIE, or was either a “business” or “governmental organization,” and thus excluded from the scope of accounting standards for VIEs. Other IPPs declined to provide the information necessary for Hawaiian Electric to determine the applicability of accounting standards for VIEs. Since 2004, Hawaiian Electric has continued its efforts to obtain from the other IPPs the information necessary to make the determinations required under accounting standards for VIEs. In each year from 2005 to 2016, the Utilities sent letters to the identified IPPs requesting the required information. All of these IPPs declined to provide the necessary information, except that Kalaeloa Partners, L.P. (Kalaeloa) later agreed to provide the information pursuant to the amendments to its PPA (see below). During the negotiations of an amendment to the PPA with AES Hawaii, Inc. (AES Hawaii), management determined that Hawaiian Electric was not the primary beneficiary of AES Hawaii and consolidation was not required (see below). Management has concluded that the consolidation of two entities owning wind farms was not required as Hawaii Electric Light and Maui Electric do not have variable interests in the entities because the PPAs do not require them to absorb any variability of the entities. If the requested information is ultimately received from the remaining IPPs, a possible outcome of future analyses of such information is the consolidation of one or more of such IPPs in the Consolidated Financial Statements. The consolidation of any significant IPP could have a material effect on the Consolidated Financial Statements, including the recognition of a significant amount of assets and liabilities and, if such a consolidated IPP were operating at a loss and had insufficient equity, the potential recognition of such losses. If the Utilities determine they are required to consolidate the financial statements of such an IPP and the consolidation has a material effect, the Utilities would retrospectively apply accounting standards for VIEs. Purchase power adjustment clause . The PUC has approved purchased power adjustment clauses (PPACs) for the Utilities. Purchased power capacity, O&M and other non-energy costs previously recovered through base rates are now recovered in the PPACs and, subject to approval by the PUC, such costs resulting from new purchased power agreements can be added to the PPACs outside of a rate case. Purchased energy costs continue to be recovered through the ECAC to the extent they are not recovered through base rates. Kalaeloa Partners, L.P. In October 1988, Hawaiian Electric entered into a PPA with Kalaeloa, subsequently approved by the PUC, which provided that Hawaiian Electric would purchase 180 megawatts (MW) of firm capacity for a period of 25 years beginning in May 1991. In October 2004, Hawaiian Electric and Kalaeloa entered into amendments to the PPA, subsequently approved by the PUC, which together effectively increased the firm capacity from 180 MW to 208 MW. The energy payments that Hawaiian Electric makes to Kalaeloa include: (1) a fuel component, with a fuel price adjustment based on the cost of low sulfur fuel oil, (2) a fuel additives cost component and (3) a non-fuel component, with an adjustment based on changes in the Gross National Product Implicit Price Deflator. The capacity payments that Hawaiian Electric makes to Kalaeloa are fixed in accordance with the PPA. Kalaeloa also has a steam delivery cogeneration contract with another customer, the term of which coincides with the PPA. The facility has been certified by the Federal Energy Regulatory Commission as a Qualifying Facility under the Public Utility Regulatory Policies Act of 1978. Hawaiian Electric and Kalaeloa are in negotiations to address the PPA term that ended on May 23, 2016. The PPA automatically extends on a month-to-month basis as long as the parties are still negotiating in good faith. The month-to-month term extensions shall end 60 days after either party notifies the other in writing that negotiations have terminated. On August 1, 2016, Hawaiian Electric and Kalaeloa entered into an agreement that neither party will give written notice of termination of the Kalaeloa PPA prior to October 31, 2017. Pursuant to the current accounting standards for VIEs, Hawaiian Electric is deemed to have a variable interest in Kalaeloa by reason of the provisions of Hawaiian Electric’s PPA with Kalaeloa. However, management has concluded that Hawaiian Electric is not the primary beneficiary of Kalaeloa because Hawaiian Electric does not have the power to direct the activities that most significantly impact Kalaeloa’s economic performance nor the obligation to absorb Kalaeloa’s expected losses, if any, that could potentially be significant to Kalaeloa. Thus, Hawaiian Electric has not consolidated Kalaeloa in its unaudited condensed consolidated financial statements. The energy payments paid by Hawaiian Electric will fluctuate as fuel prices change, but the PPA does not currently expose Hawaiian Electric to losses as the fuel and fuel related energy payments under the PPA have been approved by the PUC for recovery from customers through base electric rates and through Hawaiian Electric’s ECAC to the extent the fuel and fuel related energy payments are not included in base energy rates. As of March 31, 2017 , Hawaiian Electric’s accounts payable to Kalaeloa for electricity purchased amounted to $11 million . AES Hawaii, Inc. In March 1988, Hawaiian Electric entered into a PPA with AES Barbers Point, Inc. (now known as AES Hawaii, Inc.), which, as amended (through Amendment No. 2) and approved by the PUC, provided that Hawaiian Electric would purchase 180 MW of firm capacity for a period of 30 years beginning in September 1992. In November 2015, Hawaiian Electric entered into Amendment No. 3 for which PUC approval was requested and subsequently denied in January 2017. The payments that Hawaiian Electric makes to AES Hawaii for energy associated with the first 180 MW of firm capacity include a fuel component, a variable O&M component and a fixed O&M component, all of which are subject to adjustment based on changes in the Gross National Product Implicit Price Deflator. Pursuant to the current accounting standards for VIEs, Hawaiian Electric is deemed to have a variable interest in AES Hawaii by reason of the provisions within the executed PPA. However, management has concluded that Hawaiian Electric is not the primary beneficiary of AES Hawaii because Hawaiian Electric does not have the power to control the most significant activities of AES Hawaii that impact its economic performance, including operations and maintenance of its facility. Thus, Hawaiian Electric has not consolidated AES Hawaii in its consolidated financial statements. As of March 31, 2017 , Hawaiian Electric’s accounts payable to AES Hawaii for electricity purchased, amounted to $13 million . ommitments and contingencies. Fuel contracts . The Utilities have contractual agreements to purchase minimum quantities of low sulfur fuel oil (LSFO), medium sulfur fuel oil (MSFO), diesel fuel and biodiesel for multi-year periods, some through December 2019. Fossil fuel prices are tied to the market prices of crude oil fand petroleum products in the Far East and U.S. West Coast and the biodiesel price is tied to the market prices of animal fat feedstocks in the U.S. West Coast and U.S. Midwest. On February 18, 2016, the Companies signed two fuel supply contracts with Chevron Products Company (Chevron) for: (1) Oahu’s LSFO and diesel (for purposes of blending with LSFO) to meet the Environmental Protection Agency’s Mercury and Air Toxic Standards; and (2) MSFO, diesel and ultra-low sulfur diesel for Oahu, Maui, Molokai and the island of Hawaii. The contract began on January 1, 2017, terminates on December 31, 2019, and may automatically renew for annual terms thereafter unless terminated earlier by either party. Both of these fuel contracts were recently assigned to Island Energy Services, LLC, a subsidiary of One Rock Capital Partners, L.P., who purchased Chevron’s Hawaii assets on November 1, 2016. Both of these fuel contracts replace prior fuel supply contracts with Chevron and Par Hawaii Refining, LLC (Par), which both expired on December 31, 2016. Hawaii Electric Light also signed a contract with Chevron, now Island Energy Services, LLC, for terminalling services in Hilo, Hawaii for 2017 through 2019. The terminalling services were provided by Chevron as part of the fuel supply contract but as mentioned above, that contract expired December 31, 2016. Now Hilo terminalling services are contracted in a stand-alone contract. The PUC approved all of the contracts with Chevron, now Island Energy Services, LLC. All of the costs incurred under these contracts are included in the Utilities’ respective Energy Cost Adjustment Clauses (ECACs) to the extent such costs are not recovered through the base rates. Hawaiian Electric also has three contracts for biodiesel. Two of the contracts are with Pacific Biodiesel Technologies, LLC (PBT) and one contingency contract is in place with REG Marketing & Logistics, LLC (REG). PBT has agreed to supply biodiesel to Hawaiian Electric’s Campbell Industrial Park (CIP) generating facility through November 2017. The contract extends for one -year if either party does not give notice otherwise within 90 days of November 2017. While fuel is delivered to CIP, the contract provides that biodiesel can be trucked to the Honolulu International Airport Emergency Facility and to any other generating facility on Oahu owned by Hawaiian Electric. Hawaiian Electric intends to shift the biodiesel supply to Schofield generating station when that new facility comes online and as long as the PBT contract remains in effect. PBT also has a spot buy contract with Hawaiian Electric to purchase additional quantities of biodiesel at or below the price of diesel. Very few purchases of “at parity” biodiesel have been made; however, the contract remains in effect and was recently extended through June 2018. Hawaiian Electric also has a contingency contract with REG. REG will supply biodiesel in the event PBT is unable to supply quantities above the contract maximum volume, should something unexpected occur. Hawaiian Electric did not purchase any biofuel from REG during 2016. Hawaiian Electric secured a one -year extension of this contract through November 2017. The costs incurred under the Utilities’ biodiesel contracts are included in their respective ECACs, to the extent such costs are not recovered through the Utilities’ base rates. The energy charge for energy purchased from Kalaeloa under Hawaiian Electric’s PPA with Kalaeloa is based in part on the price Kalaeloa pays PAR (formerly known as Hawaii Independent Energy, LLC) for LSFO in a fuel contract between the two parties. Hawaiian Electric and Kalaeloa are currently in negotiations to address the PPA term that ended on May 23, 2016. See “Unconsolidated variable interest entities - Kalaeloa Partners, L.P.” above. The costs incurred for LSFO under Hawaiian Electric's fuel contract with Kalaeloa is included in Hawaiian Electric's ECAC, to the extent such costs are not recovered through base rates. AES Hawaii, Inc . Under a PPA entered into in March 1988, as amended (through Amendment No. 2) for a period of 30 years beginning September 1992, Hawaiian Electric agreed to purchase 180 MW of firm capacity from AES Hawaii. In August 2012, Hawaiian Electric filed an application with the PUC seeking an exemption from the PUC’s Competitive Bidding Framework to negotiate an amendment to the PPA to purchase 186 MW of firm capacity, and amend the energy pricing formula in the PPA. The PUC approved the exemption in April 2013, but Hawaiian Electric and AES Hawaii were not able to reach an agreement on the amendment. In June 2015, AES Hawaii filed an arbitration demand regarding a dispute about whether Hawaiian Electric was obligated to buy up to 9 MW of additional capacity based on a 1992 letter. Hawaiian Electric responded to the arbitration demand and in October 2015, AES Hawaii and Hawaiian Electric entered into a Settlement Agreement to stay the arbitration proceeding. The Settlement Agreement included certain conditions precedent which, if satisfied, would have released the parties from the claims under the arbitration proceeding. Among the conditions precedent was the successful negotiation and PUC approval of an amendment to the existing PPA. In November 2015, Hawaiian Electric entered into Amendment No. 3 for which PUC approval was requested and subsequently denied in January 2017. Approval of Amendment No. 3 would have satisfied the final condition for effectiveness of the Settlement Agreement and resolved AES Hawaii's claims. Following the PUC's decision, the parties agreed to extend the stay of the arbitration proceeding, while settlement discussions continue. Hu Honua Bioenergy, LLC. In May 2012, Hawaii Electric Light signed a PPA, which the PUC approved in December 2013, with Hu Honua Bioenergy, LLC (Hu Honua) for 21.5 MW of renewable, dispatchable firm capacity fueled by locally grown biomass from a facility on the island of Hawaii. Per the terms of the PPA, the Hu Honua plant was scheduled to be in service in 2016. However, Hu Honua encountered construction delays, failed to meet its obligations under the PPA and failed to provide adequate assurances that it could perform or had the financial means to perform. Hawaii Electric Light terminated the PPA on March 1, 2016. Hawaii Electric Light and Hu Honua were in discussions regarding the possibility of reinstating the PPA under revised terms and conditions. However, on November 30, 2016, Hu Honua filed a civil complaint in the United States District Court for the District of Hawaii which included claims purportedly arising out of the termination of Hu Honua’s PPA. The complaint named HEI, Hawaiian Electric and Hawaii Electric Light as defendants. HEI, Hawaiian Electric and Hawaii Electric Light believe the allegations in the complaint are without merit and intend to defend these lawsuits vigorously. 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 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 exceeded, project costs may need to be written off in amounts that could result in significant reductions in Hawaiian Electric’s consolidated net income. Enterprise Resource Planning/Enterprise Asset Management (ERP/EAM) Implementation Project. The Utilities submitted their Enterprise Information System Roadmap to the PUC in June 2014 and refiled an application for an ERP/EAM Implementation Project in July 2014 with an estimated cost of $82.4 million . In October 2015, the PUC issued a decision and order (D&O) (1) finding that there is a need to replace the Utilities’ existing ERP/EAM system, (2) denying the Utilities request to defer the costs for the ERP software purchased in 2012 and (3) deferring any ruling on whether it is reasonable and in the public interest for the Utilities to commence with the project under two options (in consideration of the then potential merger with NEE). As a result, the Utilities expensed the ERP software costs of $4.8 million in the third quarter of 2015 and in April 2016, the Utilities filed additional information per the two options on the costs and benefits of the project and the Consumer Advocate subsequently submitted its reply. On August 11, 2016, the PUC issued a second D&O approving the Utilities’ request to commence the ERP/EAM Implementation Project, subject to certain conditions, including a $77.6 million cap on cost recovery as well as a requirement that the Utilities pass onto customers a minimum of $244 million in savings associated with the system over its 12 -year service life. Pursuant to the D&O and subsequent orders, the Utilities are required to file a bottom-up, low-level analysis of the project’s benefits; performance metrics and tracking mechanism for passing the project’s benefits on to customers by September 2017; and monthly reports on the status and costs of the project. On March 31, 2017, the Utilities filed their proposed methods of passing on to customers the estimated monetary savings attributable to the project. The project is expected to go live by October 1, 2018. Schofield Generating Station Project. In August 2012, the PUC approved a waiver from the competitive bidding framework to allow Hawaiian Electric to negotiate with the U.S. Army for the construction of a 50 MW utility owned and operated firm, renewable and dispatchable generation facility at Schofield Barracks. In September 2015, the PUC approved Hawaiian Electric’s application to expend $167 million for the project. In approving the project, the PUC placed a cost cap of $167 million for the project, stated 90% of the cap is allowed for cost recovery through cost recovery mechanisms other than base rates, and stated the $167 million cap will be adjusted downward due to any reduction in the cost of the engine contract due to a reduction in the foreign exchange rate. Hawaiian Electric was required to take all necessary steps to lock in the lowest possible exchange rate. On January 5, 2016, Hawaiian Electric executed window forward contracts, which lowered the cost of the engine contract by $9.7 million , resulting in a revised project cost cap of $157.3 million . Hawaiian Electric has received all of the major permits for the project, including a 35 year site lease from the U.S. Army. Construction of the facility began in October 2016, and the facility is expected to be placed in service in the first quarter of 2018. Hamakua Energy Partners, L.P. (HEP) Asset Purchase Agreement. Hawaii Electric Light has been purchasing up to 60 MW (net) of firm capacity from HEP under a PPA that expires on December 30, 2030. The HEP plant currently contributes about 23% of the island of Hawaii’s generating capacity. On December 22, 2015, Hawaii Electric Light entered into an agreement, subject to PUC approval, to acquire the assets of HEP for approximately $84.5 million . If approved by the PUC, the agreement to purchase the existing HEP generating assets will terminate the existing PPA. The elimination of certain required capacity payments under the PPA is expected to result in lower costs to customers. Additionally, by owning the plant, Hawaii Electric Light will be able to manage HEP’s efficient generating units more productively, providing greater flexibility to cycle HEP’s generating units to more effectively manage the Hawaii Island grid. This increased operational flexibility will be essential to support and facilitate Hawaii Electric Light’s efforts to integrate more renewable energy onto the grid. Hawaii Electric Light applied for approval of the Asset Purchase Agreement in February 2016. The Consumer Advocate has recommended approval of the application, subject to certain proposed conditions including a lower purchase price, and three participants in the proceeding have recommended denial of the application. A decision by the PUC on the application is pending. 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. In recent years, legislative, regulatory and governmental activities related to the environment, including proposals and rulemaking under the Clean Air Act and Clean Water Act (CWA), have increased significantly. Hawaiian Electric, Hawaii Electric Light and Maui Electric, like other utilities, periodically encounter petroleum or other chemical releases into the environment 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 adverse effect, individually or in the aggregate, on Hawaiian Electric’s consolidated results of operations, financial condition or liquidity. Clean Water Act Section 316(b). On August 14, 2014, the Environmental Protection Agency (EPA) published in the Federal Register the final regulations required by section 316(b) of the CWA designed to protect aquatic organisms from adverse impacts associated with existing power plant cooling water intake structures. The regulations were effective October 14, 2014 and apply to the cooling water systems for the steam generating units at three of Hawaiian Electric’s power plants on the island of Oahu. The regulations prescribe a process, including a number of required site-specific studies, for states to develop facility-specific entrainment and impingement controls to be incorporated in each facility’s National Pollutant Discharge Elimination System permit. Hawaiian Electric submitted the final site specific studies for the Honolulu and Waiau power plants to the Hawaii Department of Health (DOH) in December 2016, and the final site specific study for Kahe will be submitted to the DOH no later than October 2017. Hawaiian Electric will work with the DOH to identify the appropriate compliance methods for the 316(b) rule. Mercury Air Toxics Standards. On February 16, 2012, the EPA published the final rule establishing the National Emission Standards for Hazardous Air Pollutants for fossil-fuel fired steam electrical generating units (EGUs) in the Federal Register. The final rule, known as the Mercury and Air Toxics Standards (MATS), applies to the 14 EGUs at Hawaiian Electric’s power plants. MATS established the Maximum Achievable Control Technology standards for the control of hazardous air pollutants emissions from new and existing EGUs. Hawaiian Electric received a one -year extension to comply by April 16, 2016. Hawaiian Electric initially selected a MATS compliance strategy based on switching to lower emission fuels, but has since continued developing and refining its emission control strategy. Hawaiian Electric’s liquid oil-fired steam generating units that are subject to the MATS limits are able to comply with the new standards without a significant fuel switch in combination with a suite of operational changes. Hawaiian Electric has proceeded with the implementation of its MATS Compliance Plan and has met all compliance requirements to date. 1-Hour Sulfur Dioxide National Ambient Air Quality Standard. On August 1, 2015, the EPA published the Data Requirements Rule for the 2010 1-Hour Sulfur Dioxide (SO 2) Primary National Ambient Air Quality Standard (NAAQS). Hawaiian Electric is working with the DOH to gather data the EPA requires through the installation and operation of two new 1-hour SO 2 air quality monitoring stations on the island of Oahu. This data will be integrated into the DOH’s statewide monitoring network and will assist the State’s development of its strategy to maintain the NAAQS and comply with the new 1-Hour SO 2 Rule in its State Implementation Plan. The two new 1-hour SO2 air quality monitoring stations have been installed and were placed into operation prior to the EPA regulatory deadline of January 1, 2017. Potential Clean Air Act Enforcement. On July 1, 2013, Hawaii Electric Light and Maui Electric received a letter from the U.S. Department of Justice (DOJ) alleging potential violations of the Prevention of Significant Deterioration and Title V requirements of the Clean Air Act involving the Hill and Kahului Power Plants. In correspondence dated November 4, 2014, the DOJ also identified potential violations by Hawaiian Electric at its Kahe facility and proposed resolving the identified, potential violations by entering into a consent decree pursuant to which the Utilities would install certain pollution controls and pay a penalty. The Utilities continue to negotiate with the DOJ to resolve these issues, but are unable to estimate the effect or costs of a consent decree, if any, at this time. Former Molokai Electric Company generation site . In 1989, Maui Electric acquired by merger 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. The EPA has since identified environmental impacts in the subsurface soil at the Site. Although Maui Electric never operated at the Site or owned the Site property, after discussions with the EPA and the DOH, Maui Electric agreed to undertake additional investigations at the Site and an adjacent parcel that Molokai Electric Company had used for equipment storage (the Adjacent Parcel) to determine the extent of environmental contamination. A 2011 assessment by a Maui Electric contractor of the Adjacent Parcel identified environmental impacts, including elevated polychlorinated biphenyls (PCBs) in the subsurface soils. In cooperation with the DOH and EPA, Maui Electric is further investigating the Site and the Adjacent Parcel to determine the extent of impacts of PCBs, residual fuel oils and other subsurface contaminants. Maui Electric has a reserve balance of $3.6 million as of March 31, 2017 , representing the probable and reasonably estimated cost to complete the additional investigation and estimated cleanup costs at the Site and the Adjacent Parcel; however, final costs of remediation will depend on the results of continued investigation. 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 responsible for cleanup of PCB contamination in sediment in the area offshore of the Waiau Power Plant as part of the Pearl Harbor Superfund Site. The Navy has also requested that Hawaiian Electric reimburse the costs incurred by the Navy to investigate the area. The Navy has completed a remedial investigation and a feasibility study (FS) for the remediation of contaminated sediment at several locations in Pearl Harbor and issued its Final FS Report on June 29, 2015. On February 2, 2016, the Navy released the Proposed Plan for Pearl Harbor Sediment Remediation and Hawaiian Electric submitted comments. The extent of the contamination, the appropriate remedial measures to address it and Hawaiian Electric’s potential responsibility for any associated costs have not been determined. On March 23, 2015, Hawaiian Electric received a letter from the EPA requesting that Hawaiian Electric submit a work plan to assess potential sources and extent of PCB contamination onshore at the Waiau Power Plant. Hawaiian Electric

Bank segment

Bank segment	3 Months Ended
	Mar. 31, 2017
Bank subsidiary
Bank segment	Bank segment Selected financial information American Savings Bank, F.S.B. Statements of Income Data (unaudited) Three months ended March 31 (in thousands) 2017 2016 Interest and dividend income Interest and fees on loans $ 50,742 $ 48,437 Interest and dividends on investment securities 6,980 5,017 Total interest and dividend income 57,722 53,454 Interest expense Interest on deposit liabilities 2,103 1,592 Interest on other borrowings 816 1,485 Total interest expense 2,919 3,077 Net interest income 54,803 50,377 Provision for loan losses 3,907 4,766 Net interest income after provision for loan losses 50,896 45,611 Noninterest income Fees from other financial services 5,610 5,499 Fee income on deposit liabilities 5,428 5,156 Fee income on other financial products 1,866 2,205 Bank-owned life insurance 983 998 Mortgage banking income 789 1,195 Other income, net 458 333 Total noninterest income 15,134 15,386 Noninterest expense Compensation and employee benefits 23,237 22,434 Occupancy 4,154 4,138 Data processing 3,280 3,172 Services 2,360 2,911 Equipment 1,748 1,663 Office supplies, printing and postage 1,535 1,365 Marketing 517 861 FDIC insurance 728 884 Other expense 4,311 3,975 Total noninterest expense 41,870 41,403 Income before income taxes 24,160 19,594 Income taxes 8,347 6,921 Net income $ 15,813 $ 12,673 American Savings Bank, F.S.B. Statements of Comprehensive Income Data (unaudited) Three months ended March 31 (in thousands) 2017 2016 Net income $ 15,813 $ 12,673 Other comprehensive income, net of taxes: Net unrealized gains on available-for-sale investment securities: Net unrealized gains on available-for-sale investment securities arising during the period, net of taxes of $148 and $4,905, respectively 223 7,429 Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $404 and $137, respectively 612 208 Other comprehensive income, net of taxes 835 7,637 Comprehensive income $ 16,648 $ 20,310 American Savings Bank, F.S.B. Balance Sheets Data (unaudited) (in thousands) March 31, 2017 December 31, 2016 Assets Cash and due from banks $ 125,901 $ 137,083 Interest-bearing deposits 94,573 52,128 Restricted cash — 1,764 Available-for-sale investment securities, at fair value 1,228,922 1,105,182 Stock in Federal Home Loan Bank, at cost 11,706 11,218 Loans receivable held for investment 4,725,271 4,738,693 Allowance for loan losses (55,997 ) (55,533 ) Net loans 4,669,274 4,683,160 Loans held for sale, at lower of cost or fair value 10,454 18,817 Other 336,626 329,815 Goodwill 82,190 82,190 Total assets $ 6,559,646 $ 6,421,357 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,696,390 $ 1,639,051 Deposit liabilities—interest-bearing 3,978,700 3,909,878 Other borrowings 200,154 192,618 Other 98,223 101,635 Total liabilities 5,973,467 5,843,182 Commitments and contingencies Common stock 1 1 Additional paid in capital 343,435 342,704 Retained earnings 264,381 257,943 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (7,708 ) $ (7,931 ) Retirement benefit plans (13,930 ) (21,638 ) (14,542 ) (22,473 ) Total shareholder’s equity 586,179 578,175 Total liabilities and shareholder’s equity $ 6,559,646 $ 6,421,357 Other assets Bank-owned life insurance $ 144,661 $ 143,197 Premises and equipment, net 94,865 90,570 Prepaid expenses 4,031 3,348 Accrued interest receivable 16,508 16,824 Mortgage-servicing rights 9,294 9,373 Low-income housing equity investments 46,782 47,081 Real estate acquired in settlement of loans, net 1,242 1,189 Other 19,243 18,233 $ 336,626 $ 329,815 Other liabilities Accrued expenses $ 32,324 $ 36,754 Federal and state income taxes payable 10,642 4,728 Cashier’s checks 23,777 24,156 Advance payments by borrowers 6,134 10,335 Other 25,346 25,662 $ 98,223 $ 101,635 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 securities sold under agreements to repurchase and advances from the Federal Home Loan Bank (FHLB) of $100 million and $100 million , respectively, as of March 31, 2017 and $93 million and $100 million , respectively, as of December 31, 2016 . Available-for-sale investment securities. The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair value Amount Number of issues Fair value Amount March 31, 2017 Available-for-sale U.S. Treasury and federal agency obligations $ 189,420 $ 928 $ (1,991 ) $ 188,357 14 $ 97,572 $ (1,855 ) 1 $ 3,492 $ (136 ) Mortgage-related securities- FNMA, FHLMC and GNMA 1,036,872 1,719 (13,453 ) 1,025,138 96 792,672 (11,920 ) 13 45,025 (1,533 ) Mortgage revenue bond 15,427 — — 15,427 — — — — — — $ 1,241,719 $ 2,647 $ (15,444 ) $ 1,228,922 110 $ 890,244 $ (13,775 ) 14 $ 48,517 $ (1,669 ) December 31, 2016 Available-for-sale U.S. Treasury and federal agency obligations $ 193,515 $ 920 $ (2,154 ) $ 192,281 18 $ 123,475 $ (2,010 ) 1 $ 3,485 $ (144 ) Mortgage-related securities- FNMA, FHLMC and GNMA 909,408 1,742 (13,676 ) 897,474 88 709,655 (12,143 ) 13 47,485 (1,533 ) Mortgage revenue bond 15,427 — — 15,427 — — — — — — $ 1,118,350 $ 2,662 $ (15,830 ) $ 1,105,182 106 $ 833,130 $ (14,153 ) 14 $ 50,970 $ (1,677 ) ASB does not believe that the investment securities that were in an unrealized loss position at March 31, 2017 , represent an other-than-temporary impairment. Total gross unrealized losses were primarily attributable to rising interest rates relative to when the investment securities were purchased and not due to the credit quality of the investment securities. The contractual cash flows of the U.S. Treasury, federal agency obligations and mortgage-related 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 did not recognize OTTI for the quarters ended March 31, 2017 and 2016. U.S. Treasury, federal agency obligations, and the mortgage revenue bond have contractual terms to maturity. Mortgage-related 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 available-for-sale investment securities were as follows: March 31, 2017 Amortized cost Fair value (in thousands) Due in one year or less $ 9,986 $ 9,993 Due after one year through five years 77,165 77,274 Due after five years through ten years 78,014 77,582 Due after ten years 39,682 38,935 204,847 203,784 Mortgage-related securities-FNMA, FHLMC and GNMA 1,036,872 1,025,138 Total available-for-sale securities $ 1,241,719 $ 1,228,922 Allowance for loan losses. The allowance for loan losses (balances and changes) and financing receivables were as follows: (in thousands) Residential 1-4 family Commercial real estate Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Unallo-cated Total Three months ended March 31, 2017 Allowance for loan losses: Beginning balance $ 2,873 $ 16,004 $ 5,039 $ 1,738 $ 6,449 $ 12 $ 16,618 $ 6,800 $ — $ 55,533 Charge-offs (6 ) — (14 ) — — — (1,510 ) (2,810 ) — (4,340 ) Recoveries 9 — 91 203 — — 297 297 — 897 Provision (95 ) 500 301 (462 ) 808 (1 ) (503 ) 3,359 — 3,907 Ending balance $ 2,781 $ 16,504 $ 5,417 $ 1,479 $ 7,257 $ 11 $ 14,902 $ 7,646 $ — $ 55,997 March 31, 2017 Ending balance: individually evaluated for impairment $ 1,386 $ 74 $ 228 $ 660 $ — $ — $ 1,318 $ 34 $ 3,700 Ending balance: collectively evaluated for impairment $ 1,395 $ 16,430 $ 5,189 $ 819 $ 7,257 $ 11 $ 13,584 $ 7,612 $ — $ 52,297 Financing Receivables: Ending balance $ 2,058,202 $ 790,191 $ 866,880 $ 16,888 $ 130,808 $ 13,694 $ 661,016 $ 192,113 $ 4,729,792 Ending balance: individually evaluated for impairment $ 19,340 $ 1,515 $ 6,803 $ 2,863 $ — $ — $ 9,175 $ 69 $ 39,765 Ending balance: collectively evaluated for impairment $ 2,038,862 $ 788,676 $ 860,077 $ 14,025 $ 130,808 $ 13,694 $ 651,841 $ 192,044 $ 4,690,027 Three months ended March 31, 2016 Allowance for loan losses: Beginning balance $ 4,186 $ 11,342 $ 7,260 $ 1,671 $ 4,461 $ 13 $ 17,208 $ 3,897 $ — $ 50,038 Charge-offs (45 ) — — — — — (1,343 ) (1,570 ) — (2,958 ) Recoveries 17 — 15 103 — — 135 210 — 480 Provision 435 464 (103 ) (34 ) 1,703 (1 ) 991 1,311 — 4,766 Ending balance $ 4,593 $ 11,806 $ 7,172 $ 1,740 $ 6,164 $ 12 $ 16,991 $ 3,848 $ — $ 52,326 December 31, 2016 Ending balance: individually evaluated for impairment $ 1,352 $ 80 $ 215 $ 789 $ — $ — $ 1,641 $ 6 $ 4,083 Ending balance: collectively evaluated for impairment $ 1,521 $ 15,924 $ 4,824 $ 949 $ 6,449 $ 12 $ 14,977 $ 6,794 $ — $ 51,450 Financing Receivables: Ending balance $ 2,048,051 $ 800,395 $ 863,163 $ 18,889 $ 126,768 $ 16,080 $ 692,051 $ 178,222 $ 4,743,619 Ending balance: individually evaluated for impairment $ 19,854 $ 1,569 $ 6,158 $ 3,629 $ — $ — $ 20,539 $ 10 $ 51,759 Ending balance: collectively evaluated for impairment $ 2,028,197 $ 798,826 $ 857,005 $ 15,260 $ 126,768 $ 16,080 $ 671,512 $ 178,212 $ 4,691,860 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 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 the Bank 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 internally assigned grade for loans was as follows: March 31, 2017 December 31, 2016 (in thousands) Commercial real estate Commercial construction Commercial Commercial real estate Commercial construction Commercial Grade: Pass $ 669,117 $ 84,495 $ 605,256 $ 701,657 $ 102,955 $ 614,139 Special mention 89,370 22,500 22,568 65,541 — 25,229 Substandard 31,704 23,813 33,192 33,197 23,813 52,683 Doubtful — — — — — — Loss — — — — — — Total $ 790,191 $ 130,808 $ 661,016 $ 800,395 $ 126,768 $ 692,051 The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 days past due 60-89 days past due Greater than 90 days Total past due Current Total financing receivables Recorded investment> 90 days and accruing March 31, 2017 Real estate: Residential 1-4 family $ 3,557 $ 2,982 $ 3,419 $ 9,958 $ 2,048,244 $ 2,058,202 $ — Commercial real estate — — — — 790,191 790,191 — Home equity line of credit 594 571 1,532 2,697 864,183 866,880 — Residential land — 318 79 397 16,491 16,888 — Commercial construction — — — — 130,808 130,808 — Residential construction — — — — 13,694 13,694 — Commercial 1,255 928 847 3,030 657,986 661,016 — Consumer 1,809 917 908 3,634 188,479 192,113 — Total loans $ 7,215 $ 5,716 $ 6,785 $ 19,716 $ 4,710,076 $ 4,729,792 $ — December 31, 2016 Real estate: Residential 1-4 family $ 5,467 $ 2,338 $ 3,505 $ 11,310 $ 2,036,741 $ 2,048,051 $ — Commercial real estate 2,416 — — 2,416 797,979 800,395 — Home equity line of credit 1,263 381 1,342 2,986 860,177 863,163 — Residential land — — 255 255 18,634 18,889 — Commercial construction — — — — 126,768 126,768 — Residential construction — — — — 16,080 16,080 — Commercial 413 510 1,303 2,226 689,825 692,051 — Consumer 1,945 1,001 963 3,909 174,313 178,222 — Total loans $ 11,504 $ 4,230 $ 7,368 $ 23,102 $ 4,720,517 $ 4,743,619 $ — The credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due and TDR loans was as follows: (in thousands) March 31, 2017 December 31, 2016 Real estate: Residential 1-4 family $ 11,709 $ 11,154 Commercial real estate 218 223 Home equity line of credit 3,340 3,080 Residential land 695 878 Commercial construction — — Residential construction — — Commercial 2,016 6,708 Consumer 1,410 1,282 Total nonaccrual loans $ 19,388 $ 23,325 Real estate: Residential 1-4 family $ — $ — Commercial real estate — — Home equity line of credit — — Residential land — — Commercial construction — — Residential construction — — Commercial — — Consumer — — Total accruing loans 90 days or more past due $ — $ — Real estate: Residential 1-4 family $ 13,661 $ 14,450 Commercial real estate 1,297 1,346 Home equity line of credit 4,894 4,934 Residential land 2,246 2,751 Commercial construction — — Residential construction — — Commercial 7,234 14,146 Consumer 69 10 Total troubled debt restructured loans not included above $ 29,401 $ 37,637 The total carrying amount and the total unpaid principal balance of impaired loans were as follows: March 31, 2017 Three months ended March 31, 2017 (in thousands) Recorded investment Unpaid principal balance Related Allowance Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 9,145 $ 9,980 $ — $ 9,555 $ 84 Commercial real estate 218 227 — 220 — Home equity line of credit 2,376 2,829 — 2,004 14 Residential land 954 1,401 — 957 26 Commercial construction — — — — — Residential construction — — — — — Commercial 2,315 5,391 — 4,907 6 Consumer — — — — — $ 15,008 $ 19,828 $ — $ 17,643 $ 130 With an allowance recorded Real estate: Residential 1-4 family $ 10,195 $ 10,398 $ 1,386 $ 10,048 $ 119 Commercial real estate 1,297 1,297 74 1,300 14 Home equity line of credit 4,427 4,443 228 4,562 49 Residential land 1,909 1,909 660 2,076 37 Commercial construction — — — — — Residential construction — — — — — Commercial 6,860 6,860 1,318 7,268 401 Consumer 69 69 34 30 — $ 24,757 $ 24,976 $ 3,700 $ 25,284 $ 620 Total Real estate: Residential 1-4 family $ 19,340 $ 20,378 $ 1,386 $ 19,603 $ 203 Commercial real estate 1,515 1,524 74 1,520 14 Home equity line of credit 6,803 7,272 228 6,566 63 Residential land 2,863 3,310 660 3,033 63 Commercial construction — — — — — Residential construction — — — — — Commercial 9,175 12,251 1,318 12,175 407 Consumer 69 69 34 30 — $ 39,765 $ 44,804 $ 3,700 $ 42,927 $ 750 December 31, 2016 Three months ended March 31, 2016 (in thousands) Recorded investment Unpaid principal balance Related allowance Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 9,571 $ 10,400 $ — $ 10,392 $ 51 Commercial real estate 223 228 — 1,173 — Home equity line of credit 1,500 1,900 — 849 — Residential land 1,218 1,803 — 1,590 16 Commercial construction — — — — — Residential construction — — — — — Commercial 6,299 8,869 — 4,999 6 Consumer — — — — — $ 18,811 $ 23,200 $ — $ 19,003 $ 73 With an allowance recorded Real estate: Residential 1-4 family $ 10,283 $ 10,486 $ 1,352 $ 12,018 $ 122 Commercial real estate 1,346 1,346 80 854 — Home equity line of credit 4,658 4,712 215 2,944 27 Residential land 2,411 2,411 789 3,378 67 Commercial construction — — — — — Residential construction — — — — — Commercial 14,240 14,240 1,641 16,970 30 Consumer 10 10 6 13 — $ 32,948 $ 33,205 $ 4,083 $ 36,177 $ 246 Total Real estate: Residential 1-4 family $ 19,854 $ 20,886 $ 1,352 $ 22,410 $ 173 Commercial real estate 1,569 1,574 80 2,027 — Home equity line of credit 6,158 6,612 215 3,793 27 Residential land 3,629 4,214 789 4,968 83 Commercial construction — — — — — Residential construction — — — — — Commercial 20,539 23,109 1,641 21,969 36 Consumer 10 10 6 13 — $ 51,759 $ 56,405 $ 4,083 $ 55,180 $ 319 * Since loan was classified as impaired. Troubled debt restructurings. A loan modification is deemed to be a troubled debt restructuring (TDR) when ASB grants a concession it would not otherwise consider were it not for the borrower’s financial difficulty. When a borrower experiencing financial difficulty fails to make a required payment on a loan or is in imminent default, ASB takes a number of steps to improve the collectibility of the loan and maximize the likelihood of full repayment. At times, ASB may modify or restructure a loan to help a distressed borrower improve its financial position to eventually be able to fully repay the loan, provided the borrower has demonstrated both the willingness and the ability to fulfill the modified terms. TDR loans are considered an alternative to foreclosure or liquidation with the goal of minimizing losses to ASB and maximizing recovery. ASB may consider various types of concessions in granting a TDR including maturity date extensions, extended amortization of principal, temporary deferral of principal payments and temporary interest rate reductions. ASB rarely grants principal forgiveness in its TDR modifications. Residential loan modifications generally involve interest rate reduction, extending the amortization period, or capitalizing certain delinquent amounts owed not to exceed the original loan balance. Land loans at origination are typically structured as a three -year term, interest-only monthly payment with a balloon payment due at maturity. Land loan TDR modifications typically involve extending the maturity date up to five years and converting the payments from interest-only to principal and interest monthly, at the same or higher interest rate. Commercial loan modifications generally involve extensions of maturity dates, extending the amortization period and temporary deferral or reduction of principal payments. ASB generally does not reduce the interest rate on commercial loan TDR modifications. Occasionally, additional collateral and/or guaranties are obtained. All TDR loans are classified as impaired and are segregated and reviewed separately when assessing the adequacy of the allowance for loan losses based on the appropriate method of measuring impairment: (1) present value of expected future cash flows discounted at the loan’s effective original contractual rate, (2) fair value of collateral less cost to sell or (3) observable market price. The financial impact of the calculated impairment amount is an increase to the allowance associated with the modified loan. When available information confirms that specific loans or portions thereof are uncollectible (confirmed losses), these amounts are charged off against the allowance for loan losses. Loan modifications that occurred during the first quarters of 2017 and 2016 and the impact on the allowance for loan losses were as follows: Three months ended March 31, 2017 Number of contracts Outstanding recorded investment 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 3 $ 512 $ 520 $ 45 Commercial real estate — — — — Home equity line of credit 8 226 212 34 Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial 1 342 342 — Consumer 1 59 59 27 13 $ 1,139 $ 1,133 $ 106 Three months ended March 31, 2016 Number of contracts Outstanding recorded 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 4 $ 1,097 $ 1,215 $ 161 Commercial real estate — — — — Home equity line of credit 10 669 669 74 Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial 3 16,200 16,200 525 Consumer — — — — 17 $ 17,966 $ 18,084 $ 760 1 The reported balances include loans that became TDR during the period, and were fully paid-off, charged-off, or sold prior to period end. Loans modified in TDRs that experienced a payment default of 90 days or more during the first quarters of 2017 and 2016, and for which the payment of default occurred within one year of the modification, were as follows: Three months ended March 31, 2017 Three months ended March 31, 2016 (dollars in thousands) Number of contracts Recorded investment Number of contracts Recorded investment Troubled debt restructurings that subsequently defaulted Real estate: Residential 1-4 family 1 $ 301 1 $ 488 Commercial real estate — — — — Home equity line of credit — — — — Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial — — — — Consumer — — — — 1 $ 301 1 $ 488 If loans modified in a TDR subsequently default, 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 $2.1 million at March 31, 2017 . Mortgage servicing rights . 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 $40.6 million and $40.4 million for the three months ended March 31, 2017 and 2016, respectively, and recognized gains on such sales of $0.8 million and $1.2 million for the three months ended March 31, 2017 and 2016, respectively. There were no repurchased mortgage loans for the three months ended March 31, 2017 and 2016. The repurchase reserve was $0.1 million as of March 31, 2017 and 2016. Mortgage servicing fees, a component of other income, net, were $0.8 million and $0.7 million for the three months ended March 31, 2017 and 2016, respectively. Changes in the carrying value of mortgage servicing rights were as follows: (in thousands) Gross 1 Accumulated amortization 1 Valuation allowance Net March 31, 2017 $ 17,707 $ (8,413 ) $ — $ 9,294 December 31, 2016 17,271 (7,898 ) — 9,373 1 Reflects the impact of loans paid in full. Changes related to mortgage servicing rights were as follows: (in thousands) 2017 2016 Mortgage servicing rights Balance, January 1 $ 9,373 $ 8,884 Amount capitalized 436 455 Amortization (515 ) (482 ) Other-than-temporary impairment — — Carrying amount before valuation allowance, March 31 9,294 8,857 Valuation allowance for mortgage servicing rights Balance, January 1 — — Provision (recovery) — — Other-than-temporary impairment — — Balance, March 31 — — Net carrying value of mortgage servicing rights $ 9,294 $ 8,857 ASB capitalizes mortgage servicing rights acquired through either the purchase or origination of mortgage loans for sale with servicing rights retained. On a monthly basis, ASB compares the net carrying value of the mortgage servicing rights to its fair value to determine if there are any changes to the valuation allowance and/or other-than-temporary impairment for the mortgage servicing rights. ASB’s MSRs are stratified based on predominant risk characteristics of the underlying loans including loan type such as fixed-rate 15 and 30 year mortgages and note rate in bands of 50 to 100 basis points. For each stratum, fair value is calculated by discounting expected net income streams using discount rates that reflect industry pricing for similar assets. Changes in mortgage interest rates impact the value of ASB’s mortgage servicing rights. Rising interest rates typically result in slower prepayment speeds in the loans being serviced for others, which increases the value of mortgage servicing rights, whereas declining interest rates typically result in faster prepayment speeds which decrease the value of mortgage servicing rights and increase the amortization of the mortgage servicing rights. 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. ASB uses a present value cash flow model using techniques described above 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 other income, net in the 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 mortgage servicing rights used in the impairment analysis were as follows: (dollars in thousands) March 31, 2017 December 31, 2016 Unpaid principal balance $ 1,205,197 $ 1,188,380 Weighted average note rate 3.95 % 3.96 % Weighted average discount rate 9.5 % 9.4 % Weighted average prepayment speed 8.2 % 8.5 % 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) March 31, 2017 December 31, 2016 Prepayment rate: 25 basis points adverse rate change $ (556 ) $ (567 ) 50 basis points adverse rate change (1,144 ) (1,154 ) Discount rate: 25 basis points adverse rate change (134 ) (128 ) 50 basis points adverse rate change (266 ) (254 ) 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. 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 balance sheet. ASB pledges investment securities as collateral for securities sold under agreements to repurchase. All such agreements are subject to master netting arrangements, which provide for a conditional right of set-off in case of default by either party; however, ASB presents securities sold under agreements to repurchase on a gross basis in the balance sheet. 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 of recognized liabilities Gross amount offset in the Balance Sheet Net amount of liabilities presented in the Balance Sheet Repurchase agreements March 31, 2017 $100 $— $100 December 31, 2016 93 — 93 Gross amount not offset in the Balance Sheet (in millions) Net amount of liabilities presented in the Balance Sheet Financial instruments Cash collateral pledged March 31, 2017 Financial institution $ — $ — $ — Government entities — — — Commercial account holders 100 119 — Total $ 100 $ 119 $ — December 31, 2016 Financial institution $ — $ — $ — Government entities 14 15 — Commercial account holders 79 101 — Total $ 93 $ 116 $ — The securities underlying the agreements to repurchase are book-entry securities and were delivered by appropriate entry into the counterparties’ accounts or into segregated tri-party custodial accounts at the FHLB. 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 consolidated balance sheets. The securities underlying the agreements to repurchase continue to be reflected in ASB’s asset accounts. Derivative financial instruments. ASB enters into interest rate lock commitments (IRLCs) with borrowers, and forward commitments to sell loans or to-be-announced mortgage-backed securities to investors to hedge against the inherent interest rate and pricing risks associated with selling loans. ASB enters into IRLCs for residential mortgage loans, which commit ASB to lend funds to a potential borrower at a specific interest rate and within a specified period of time. IRLCs that relate to the origination of mortgage loans that will be held for sale are considered derivative financial instruments under applicable accounting guidance. Outstanding IRLCs expose ASB to the risk that the price of the mortgage loans underlying the commitments may decline due to increases in mortgage interest rates from inception of the rate lock to the funding of the loan. The IRLCs are free-standing derivatives which are carried at fair value with changes recorded in mortgage banking income. ASB enters into forward commitments to hedge the interest rate risk for rate locked mortgage applications in process and closed mortgage loans held for sale. These commitments are primarily forward sales of to-be-announced mortgage backed securities. Generally, when mortgage loans are closed, the forward commitment is liquidated and replaced with a mandatory delivery forward sale of the mortgage to a secondary market investor. In some cases, a best-efforts forward sale agreement is utilized as the forward commitment. These commitments are free-standing derivatives which are carried at fair value with changes recorded in mortgage banking income. Changes in the fair value of IRLCs and forward commitments subsequent to inception are based on changes in the fair value of the underlying loan resulting from the fulfillment of the commitment and changes in the probability that the loan will fund within the terms of the commitment, which is affected primarily by changes in interest rates and the passage of time. The notional amount and fair value of ASB’s derivative financial instruments were as follows: March 31, 2017 December 31, 2016 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 21,771 $ 317 $ 25,883 $ 421 Forward commitments 22,120 (104 ) 30,813 (177 ) ASB’s derivative financial instruments, their fair values and balance sheet location were as follows: Derivative Financial Instruments Not Designated as Hedging Instruments 1 March 31, 2017 December 31, 2016 (in thousands) Asset derivatives Liability derivatives Asset derivatives Liability Interest rate lock commitments $ 317 $ — $ 445 $ 24 Forward commitments — 104 8 185 $ 317 $ 104 $ 453 $ 209 1 Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the balance sheets. The following table presents ASB’s derivative financial instruments and the amount and location of the net gains or losses recognized in the statements of income: Derivative Financial Instruments Not Designated as Hedging Instruments Location of net gains (losses) recognized in the Statement of Income Three months ended March 31 (in thousands) 2017 2016 Interest rate lock commitments Mortgage banking income $ (104 ) $ 271 Forward commitments Mortgage banking income 73 (163 ) $ (31 ) $ 10

Retirement benefits

Retirement benefits	3 Months Ended
	Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Retirement benefits	Retirement benefits Defined benefit pension and other postretirement benefit plans information. For the first three months of 2017 , the Company contributed $17 million ($ 17 million by the Utilities) to its pension and other postretirement benefit plans, compared to $16 million ( $16 million by the Utilities) in the first three months of 2016 . The Company’s current estimate of contributions to its pension and other postretirement benefit plans in 2017 is $67 million ( $66 million by the Utilities, $ 1 million by HEI and nil by ASB), compared to $65 million ($ 64 million by the Utilities, $1 million by HEI and nil by ASB) in 2016 . In addition, the Company expects to pay directly $2 million ( $1 million by the Utilities) of benefits in 2017 , compared to $2 million ($ 1 million by the Utilities) paid in 2016 . The components of net periodic benefit cost for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended March 31 Pension benefits Other benefits (in thousands) 2017 2016 2017 2016 HEI consolidated Service cost $ 16,494 $ 15,391 $ 840 $ 836 Interest cost 20,216 20,277 2,411 2,474 Expected return on plan assets (25,721 ) (24,664 ) (3,066 ) (3,052 ) Amortization of net prior service loss (gain) (14 ) (14 ) (449 ) (448 ) Amortization of net actuarial loss 6,513 5,969 366 287 Net periodic benefit cost 17,488 16,959 102 97 Impact of PUC D&Os (5,156 ) (4,046 ) 146 189 Net periodic benefit cost (adjusted for impact of PUC D&Os) $ 12,332 $ 12,913 $ 248 $ 286 Hawaiian Electric consolidated Service cost $ 16,094 $ 14,933 $ 835 $ 822 Interest cost 18,589 18,603 2,327 2,389 Expected return on plan assets (24,011 ) (22,932 ) (3,017 ) (3,003 ) Amortization of net prior service loss (gain) 2 4 (451 ) (451 ) Amortization of net actuarial loss 6,006 5,461 359 284 Net periodic benefit cost 16,680 16,069 53 41 Impact of PUC D&Os (5,156 ) (4,046 ) 146 189 Net periodic benefit cost (adjusted for impact of PUC D&Os) $ 11,524 $ 12,023 $ 199 $ 230 HEI consolidated recorded retirement benefits expense of $9 million ($ 8 million by the Utilities) and $9 million ( $8 million by the Utilities) in the first three months of 2017 and 2016 , respectively, 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, these retirement benefit costs that are over/under amounts allowed in rates are charged/credited to a regulatory asset/liability. The regulatory asset/liability for each utility will be amortized over 5 years beginning with the issuance of the PUC’s D&O in the respective utility’s next rate case. Defined contribution plans information. For the first three months of 2017 and 2016 , the Company’s expenses for its defined contribution pension plans under the Hawaiian Electric Industries Retirement Savings Plan (HEIRSP) and the ASB 401(k) Plan were $1.5 million and $1.4 million , respectively, and cash contributions were $2.9 million and $2.7 million , respectively. For the first three months of 2017 and 2016 , the Utilities’ expenses for its defined contribution pension plan under the HEIRSP were $ 0.5 million and $0.4 million , respectively, and cash contributions were $ 0.5 million and $0.4 million , respectively.

Share-based compensation

Share-based compensation	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation	Share-based compensation Under the 2010 Equity and Incentive Plan, as amended, 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 2010 Equity and Incentive Plan (original EIP) was amended and restated effective March 1, 2014 (EIP) and an additional 1.5 million shares was added to the shares available for issuance under these programs. As of March 31, 2017 , approximately 3.3 million shares remained available for future issuance under the terms of the EIP, assuming recycling of shares withheld to satisfy minimum statutory tax liabilities relating to EIP awards, including an estimated 0.4 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 March 31, 2017 , there were 120,428 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 March 31 (in millions) 2017 2016 HEI consolidated Share-based compensation expense 1 $ 1.1 $ 1.0 Income tax benefit 0.3 0.3 Hawaiian Electric consolidated Share-based compensation expense 1 0.5 0.3 Income tax benefit 0.2 0.1 1 For the three months ended March 31, 2017 and 2016, the Company has not capitalized any share-based compensation. Stock awards. HEI granted HEI common stock to a nonemployee director of HEI and Hawaiian Electric under the 2011 Director Plan as follows: ($ in thousands) Three months ended March 31, 2017 Shares granted 770 Fair value $ 25 Income tax benefit 10 The number of shares issued to the nonemployee director of HEI and Hawaiian Electric 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 March 31 2017 2016 Shares (1) Shares (1) Outstanding, beginning of period 220,683 $ 29.57 210,634 $ 28.82 Granted 96,977 33.48 94,282 29.90 Vested (81,624 ) 28.85 (78,379 ) 27.92 Forfeited — — — — Outstanding, end of period 236,036 $ 31.42 226,537 $ 29.59 Total weighted-average grant-date fair value of shares granted ($ millions) $ 3.2 $ 2.8 (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 first three months of 2017 and 2016 , total restricted stock units that vested and related dividends had a fair value of $3.1 million and $2.5 million , respectively, and the related tax benefits were $1.1 million and $0.9 million , respectively. As of March 31, 2017 , there was $6.1 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 3.0 years . Long-term incentive plan payable in stock. The 2017-2019 long-term incentive plan (LTIP) provides 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 return to shareholders (TRS) compared to the Edison Electric Institute Index over the three -year period. The other performance condition goals relate to EPS growth, return on average common equity (ROACE) and ASB’s efficiency ratio. The 2015-2017 and 2016-2018 LTIPs provide for performance awards payable in cash, and thus are not included in the tables below. LTIP linked to TRS . Information about HEI’s LTIP grants linked to TRS was as follows: Three months ended March 31 2017 2016 Shares (1) Shares (1) Outstanding, beginning of period 83,106 $ 22.95 162,500 $ 27.66 Granted (target level) 36,971 39.51 — — Vested (issued or unissued and cancelled) (83,106 ) 22.95 (78,553 ) 32.69 Forfeited — — — — Outstanding, end of period 36,971 $ 39.51 83,947 $ 22.95 Total weighted-average grant-date fair value of shares granted ($ millions) $ 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 its peers for the period from the beginning of the performance period to the grant date and estimated future stock volatility and dividends of HEI and its peers over the remaining three -year performance period. The expected stock volatility assumptions for HEI and its peer group were based on the three -year historic stock volatility, and the annual dividend yield assumptions were based on dividend yields calculated on the basis of daily stock prices over the same three -year historical period. The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TRS and the resulting fair value of LTIP awards granted: 2017 Risk-free interest rate 1.46 % Expected life in years 3 Expected volatility 20.1 % Range of expected volatility for Peer Group 15.4% to 26.0% Grant date fair value (per share) $ 39.51 For the three months ended March 31, 2017 , total vested LTIP awards linked to TRS and related dividends had a fair value of $1.9 million and the related tax benefits were $0.7 million . For the three months ended March 31, 2016 , all vested shares in the table above were unissued and cancelled (i.e., lapsed) because the TRS goal was not met. As of March 31, 2017 , there was $1.3 million of total unrecognized compensation cost related to the nonvested performance awards payable in shares linked to TRS. The cost is expected to be recognized over a weighted-average period of 2.8 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 March 31 2017 2016 Shares (1) Shares (1) Outstanding, beginning of period 109,816 $ 25.18 222,647 $ 26.02 Granted (target level) 147,888 33.48 — — Vested (issued) (109,816 ) 25.18 (109,097 ) 26.89 Forfeited — — — — Outstanding, end of period 147,888 $ 33.48 113,550 $ 25.18 Total weighted-average grant-date fair value of shares granted (at target performance levels) ($ millions) $ 5.0 $ — (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 three months ended March 31, 2017 and 2016 , total vested LTIP awards linked to other performance conditions and related dividends had a fair value of $4.2 million and $3.6 million and the related tax benefits were $1.6 million and $1.4 million , respectively. As of March 31, 2017 , there was $4.2 million of total unrecognized compensation cost related to the nonvested shares linked to performance conditions other than TRS. The cost is expected to be recognized over a weighted-average period of 2.8 years .

Shareholders' equity

Shareholders' equity	3 Months Ended
	Mar. 31, 2017
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 Unrealized gains (losses) on derivatives Retirement benefit plans AOCI Balance, December 31, 2016 $ (7,931 ) $ (454 ) $ (24,744 ) $ (33,129 ) $ (454 ) $ 132 $ (322 ) Current period other comprehensive income 223 454 308 985 454 5 459 Balance, March 31, 2017 $ (7,708 ) $ — $ (24,436 ) $ (32,144 ) $ — $ 137 $ 137 Balance, December 31, 2015 $ (1,872 ) $ (54 ) $ (24,336 ) $ (26,262 ) $ — $ 925 $ 925 Current period other comprehensive income 7,428 1,056 316 8,800 1,002 14 1,016 Balance, March 31, 2016 $ 5,556 $ 1,002 $ (24,020 ) $ (17,462 ) $ 1,002 $ 939 $ 1,941 Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Three months ended March 31 Affected line item in the (in thousands) 2017 2016 Statement of Income HEI consolidated Derivatives qualifying as cash flow hedges Window forward contracts $ 454 $ — Revenue-electric utilities (losses on window forward contracts - see Note 4 for additional details) Interest rate contracts (settled in 2011) $ — $ 54 Interest expense Retirement benefit plan items Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 3,921 3,537 See Note 6 for additional details Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets (3,613 ) (3,222 ) See Note 6 for additional details Total reclassifications $ 762 $ 369 Hawaiian Electric consolidated Derivatives qualifying as cash flow hedges Window forward contracts $ 454 $ — Revenue (losses on window forward contracts - see Note 4 for additional details) Retirement benefit plan items Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 3,618 3,236 See Note 6 for additional details Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets (3,613 ) (3,222 ) See Note 6 for additional details Total reclassifications $ 459 $ 14

Fair value measurements

Fair value measurements	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements Fair value estimates are estimates of the price that would be received to sell an asset, or paid upon the transfer of a liability, in an orderly transaction between market participants at the measurement date. The fair value estimates are generally determined based on assumptions that market participants would use in pricing the asset or liability and are based on market data obtained from independent sources. However, in certain cases, the Company and the Utilities use their own assumptions about market participant assumptions based on the best information available in the circumstances. These valuations are estimates at a specific point in time, based on relevant market information, information about the financial instrument and judgments regarding future expected loss experience, economic conditions, risk characteristics of various financial instruments and other factors. These estimates do not reflect any premium or discount that could result if the Company or the Utilities were to sell its entire holdings of a particular financial instrument at one time. Because no active trading market exists for a portion of the Company’s and the Utilities’ financial instruments, fair value estimates cannot be determined with precision. Changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the estimates. In addition, the tax ramifications related to the realization of the unrealized gains and losses could have a significant effect on fair value estimates, but have not been considered in making such estimates. The Company and the Utilities group their financial assets measured at fair value in three levels outlined as follows: Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and is used to measure fair value whenever available. Level 2: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that are derived principally from or can be corroborated by observable market data by correlation or other means. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using discounted cash flow methodologies, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Classification in the hierarchy is based upon the lowest level input that is significant to the fair value measurement of the asset or liability. For instruments classified in Level 1 and 2 where inputs are primarily based upon observable market data, there is less judgment applied in arriving at the fair value. For instruments classified in Level 3, management judgment is more significant due to the lack of observable market data. Fair value is also used on a nonrecurring basis to evaluate certain assets for impairment or for disclosure purposes. Examples of nonrecurring uses of fair value include mortgage servicing rights accounted for by the amortization method, loan impairments for certain loans and goodwill. 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 the 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 and not by ASB. The fair value of the mortgage revenue bond 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 . Loans carried at the lower of cost or market are valued using market observable pricing inputs, which are derived from third party loan sales and securitizations and, therefore, are classified within Level 2 of the valuation hierarchy. ASB transferred $6.1 million of loans receivable out of Level 3 into Level 2 due to changes in the observability of significant inputs during the quarter ended March 31, 2017. 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. Noting the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Impaired loans . At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Fair value is determined primarily by using an income, cost or market approach and is normally provided through appraisals. Impaired loans carried at fair value generally receive specific allocations within the allowance for loan losses. For collateral-dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments typically result in a Level 3 classification of the inputs for determining fair 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. Generally, impaired loans are evaluated quarterly for additional impairment and adjusted accordingly. Real estate acquired in settlement of loans . Foreclosed assets are carried at fair value (less estimated costs to sell) and 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 . 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. Mortgage servicing rights 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 their own experience and expertise to arrive at a value. ASB uses the third-party value only to assess the reasonableness of its own estimate. 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 deposits of similar remaining maturities. Other borrowings . For fixed-rate 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 long-term debt of HEI and the Utilities 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 remaining maturities. 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 market place that are observable and are classified as Level 2 measurements. Window forward contracts . The estimated fair value of the Utilities’ window forward contracts was obtained from a third-party financial services provider based on the effective exchange rate offered for the foreign currency denominated transaction. Window forward contracts are classified as 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. For stock in Federal Home Loan Bank, the carrying amount is a reasonable estimate of fair value because it can only be redeemed at par. For bank-owned life insurance, the carrying amount is the cash surrender value of the insurance policies, which is a reasonable estimate of fair value. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings and money market deposits, the carrying amount is a reasonable estimate of fair value as these liabilities have no stated maturity. Estimated fair value Carrying or notional amount Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) (Level 1) (Level 2) (Level 3) Total March 31, 2017 Financial assets HEI consolidated Money market funds $ 6 $ — $ 6 $ — $ 6 Available-for-sale investment securities 1,228,922 — 1,213,495 15,427 1,228,922 Stock in Federal Home Loan Bank 11,706 — 11,706 — 11,706 Loans receivable, net 4,679,728 — 10,881 4,816,099 4,826,980 Mortgage servicing rights 9,294 — — 13,650 13,650 Bank-owned life insurance 144,661 — 144,661 — 144,661 Derivative assets 22,986 — 317 — 317 Financial liabilities HEI consolidated Deposit liabilities 5,675,090 — 5,671,729 — 5,671,729 Short-term borrowings—other than bank 2,300 — 2,300 — 2,300 Other bank borrowings 200,154 — 201,000 — 201,000 Long-term debt, net—other than bank 1,618,651 — 1,707,954 — 1,707,954 Derivative liabilities 36,743 98 283 — 381 Hawaiian Electric consolidated Short-term borrowings 1,500 — 1,500 — 1,500 Long-term debt, net 1,318,871 — 1,402,690 — 1,402,690 Derivative liabilities 15,838 — 277 — 277 December 31, 2016 Financial assets HEI consolidated Money market funds $ 13,085 $ — $ 13,085 $ — $ 13,085 Available-for-sale investment securities 1,105,182 — 1,089,755 15,427 1,105,182 Stock in Federal Home Loan Bank 11,218 — 11,218 — 11,218 Loans receivable, net 4,701,977 — 13,333 4,839,493 4,852,826 Mortgage servicing rights 9,373 — — 13,216 13,216 Bank-owned life insurance 143,197 — 143,197 — 143,197 Derivative assets 23,578 — 453 — 453 Financial liabilities HEI consolidated Deposit liabilities 5,548,929 — 5,546,644 — 5,546,644 Short-term borrowings—other than bank — — — — — Other bank borrowings 192,618 — 193,991 — 193,991 Long-term debt, net—other than bank 1,619,019 — 1,704,717 — 1,704,717 Derivative liabilities 53,852 129 823 — 952 Hawaiian Electric consolidated Long-term debt, net 1,319,260 — 1,399,490 — 1,399,490 Derivative liabilities 20,734 — 743 — 743 Fair value measurements on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were as follows: March 31, 2017 December 31, 2016 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Money market funds (“other” segment) $ — $ 6 $ — $ — $ 13,085 $ — Available-for-sale investment securities (bank segment) Mortgage-related securities-FNMA, FHLMC and GNMA $ — $ 1,025,138 $ — $ — $ 897,474 $ — U.S. Treasury and federal agency obligations — 188,357 — — 192,281 — Mortgage revenue bond — — 15,427 — — 15,427 $ — $ 1,213,495 $ 15,427 $ — $ 1,089,755 $ 15,427 Derivative assets (bank segment) 1 Interest rate lock commitments $ — $ 317 $ — $ — $ 445 $ — Forward commitments — — — — 8 — $ — $ 317 $ — $ — $ 453 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ 24 $ — Forward commitments (bank segment) 1 98 6 — 129 56 — Window forward contracts (electric utility segment) 2 — 277 — — 743 — $ 98 $ 283 $ — $ 129 $ 823 $ — 1 Derivatives are carried at fair value with changes in value reflected in the balance sheet in other assets or other liabilities and included in mortgage banking income. 2 Liability derivatives are included in other current 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 quarter ended March 31, 2017. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Mortgage revenue bond 2017 2016 (in thousands) Balance, January 1 $ 15,427 $ — Principal payments received — — Purchases — — Unrealized gain (loss) included in other comprehensive income — — Balance, March 31 $ 15,427 $ — ASB holds one mortgage revenue bond 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 March 31, 2017 , the weighted average discount rate was 2.658% which was derived by incorporating a credit spread over the one month LIBOR rate. 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. The carrying value of assets measured at fair value on a nonrecurring basis were as follows: Fair value measurements (in thousands) Balance Level 1 Level 2 Level 3 March 31, 2017 Loans $ 1,281 $ — $ — $ 1,281 December 31, 2016 Loans 2,767 — — 2,767 Real estate acquired in settlement of loans 1,189 — — 1,189 For three months ended March 31, 2017 and 2016 , there were no adjustments to fair value for ASB’s loans held for sale. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value (1) ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted Average March 31, 2017 Residential loan $ 222 Fair value of property or collateral Appraised value less 7% selling cost N/A (2) Commercial loan 810 Sales price Sales price N/A (2) Commercial loan 249 Fair value of property or collateral Fair value of business assets N/A (2) Total loans $ 1,281 December 31, 2016 Residential loans $ 2,468 Sales price Sales price 95-100% 97% Residential loans 287 Fair value of property or collateral Appraised value less 7% selling cost 42-65% 61% Home equity lines of credit 12 Fair value of property or collateral Appraised value less 7% selling cost N/A (2) Total loans $ 2,767 Real estate acquired in settlement of loans $ 1,189 Fair value of property or collateral Appraised value less 7% selling cost 100% 100% (1) Represent percent of outstanding principal balance. (2) N/A - Not applicable. There is one loan in each fair value measurement type. Significant increases (decreases) in any of those inputs in isolation would result in significantly higher (lower) fair value measurements.

Cash flows

Cash flows	3 Months Ended
	Mar. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash flows	Cash flows Three months ended March 31 2017 2016 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates $ 19 $ 20 Income taxes paid (including refundable credits) 4 1 Income taxes refunded (including refundable credits) — 45 Hawaiian Electric consolidated Interest paid to non-affiliates 13 12 Income taxes paid (including refundable credits) 2 — Income taxes refunded (including refundable credits) — 20 Supplemental disclosures of noncash activities HEI consolidated Common stock dividends reinvested in HEI common stock (financing) 1 — 6 Loans transferred from held for investment to held for sale (investing) 9 — Common stock issued (gross) for director and executive/management compensation (financing) 2 9 6 Obligations to fund low income housing investments (operating) 1 — HEI consolidated and Hawaiian Electric consolidated Electric utility property, plant and equipment AFUDC-equity (operating) 2 2 Estimated fair value of noncash contributions in aid of construction (investing) — 1 Change in unpaid invoices and accruals (investing) (52 ) (48 ) 1 The amounts shown represent common stock dividends reinvested in HEI common stock under the HEI Dividend Reinvestment and Stock Purchase Plan (DRIP) in noncash transactions. 2 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Recent accounting pronouncement

Recent accounting pronouncements	3 Months Ended
	Mar. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent accounting pronouncements	Recent accounting pronouncements Revenues from contracts with customers. In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The core principle of the guidance in ASU No. 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should: (1) identify the contract/s with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when, or as, the entity satisfies a performance obligation. ASU No. 2014-09 also requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. As of March 31, 2017, the Company has identified its revenue streams from, and performance obligations to, customers. The Company continues to monitor development of industry-specific application guidance and is currently evaluating the impacts of adoption of ASU No. 2014-09. The Company plans to adopt ASU No. 2014-09 (and subsequently issued revenue-related ASUs, as applicable) in the first quarter of 2018, but has not determined the method of adoption (full or modified retrospective application). The Company expects to present additional revenue disclosures, but the full impact of adoption of ASU No. 2014-09 on its results of operations, financial condition and liquidity cannot be determined until its evaluation process is complete. Financial instruments. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities,” which, among other things: • Requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. • Requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. • Requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables). • Eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. The Company plans to adopt ASU No. 2016-01 in the first quarter of 2018 and has not yet determined the impact of adoption. Leases . In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires that lessees recognize a liability to make lease payments (the lease liability) and a right-of-use asset, representing its right to use the underlying asset for the lease term, for all leases (except short-term leases) at the commencement date. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election and recognize lease expense for such leases generally on a straight-line basis over the lease term. For finance leases, a lessee is required to recognize interest on the lease liability separately from amortization of the right-of-use asset in the statement of comprehensive income. For operating leases, a lessee is required to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis. The Company plans to adopt ASU No. 2016-02 in the first quarter of 2019 (using a modified retrospective transition approach for leases existing at, or entered into after, January 1, 2017) and has not yet determined the impact of adoption. Stock compensation. In March 2016, the FASB issued ASU No. 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting,” which simplifies several aspects of the accounting for share-based payment transactions. The Company adopted ASU No. 2016-09 in the first quarter of 2017. From January 1, 2017, all excess tax benefits and tax deficiencies are recognized as income tax expense or benefit in the income statement. From January 1, 2017, no excess tax benefits and deficiencies are included in determining the assumed proceeds under the treasury stock method of calculating diluted EPS. As of January 1, 2017, HEI adopted an accounting policy to account for forfeitures when they occur. From January 1, 2017, HEI retrospectively applied the cashflow guidance for taxes paid (equivalent to the value of withheld shares for tax withholding purposes) and excess tax benefits. Excess tax benefits will be classified along with other income tax cash flows as an operating activity and the cash payments made to taxing authorities on the employees’ behalf for withheld shares will be classified as financing activities on the HEI Consolidated Statements of Cash Flows for all periods that are presented. Credit Losses . In June 2016, the FASB issued ASU No. 2016-13, “ Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ,” which is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations . ASU No. 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date (based on historical experience, current conditions and reasonable and supportable forecasts) and enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU No. 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The other-than-temporary impairment model of accounting for credit losses on AFS debt securities will be replaced with an estimate of expected credit losses only when the fair value is below the amortized cost of the asset. The length of time the fair value of an AFS debt security has been below the amortized cost will no longer impact the determination of whether a credit loss exists. The AFS debt security model will also require the use of an allowance to record the estimated losses (and subsequent recoveries). The accounting for the initial recognition of the estimated expected credit losses for purchased financial assets with credit deterioration would be recognized through an allowance for loan losses with an offset to the cost basis of the related financial asset at acquisition (i.e., there is no impact to net income at initial recognition). The Company plans to adopt ASU No. 2016-13 in the first quarter of 2020 and has not yet determined the impact of adoption. Cash Flows . In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which provides guidance on eight specific cash flow issues - debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies), distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. The Company plans to adopt ASU No. 2016-15 in the first quarter of 2018 using a retrospective transition method and has not yet determined the impact of adoption. Intra-entity transfers of assets other than inventory. In October 2016, the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory,” which changes current guidance that prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party by requiring the recognition of the income tax consequences of such transfer when it occurs. The Company plans to adopt ASU No. 2016-16 in the first quarter of 2018 using a modified retrospective transition method and believes the impact of adoption will be immaterial to the Company’s and Hawaiian Electric’s condensed consolidated financial statements. Restricted cash. In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The Company plans to adopt ASU No. 2016-18 in the first quarter of 2018 using a retrospective transition method and believes the impact of adoption will not be material to the Company’s and Hawaiian Electric’s consolidated statements of cash flows. Goodwill impairment. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” Prior to the adoption of ASU No. 2017-04, an entity was required to perform a two-step test to determine the amount, if any, of goodwill impairment. In Step 1, an entity compared the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeded its fair value, the entity performed Step 2 and compared the implied fair value of goodwill with the carrying amount of that goodwill for that reporting unit. An impairment charge equal to the amount by which the carrying amount of goodwill for the reporting unit exceeded the implied fair value of that goodwill would then be recorded. ASU No. 2017-04 removes the second step of the test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value. ASU No. 2017-04 does not amend the optional qualitative assessment of goodwill impairment. The Company plans to adopt ASU No. 2017-04 prospectively in 2017 and does not expect the impact of adoption to be material. Net periodic pension cost and net periodic postretirement benefit cost. In March 2017, the FASB issued ASU No. 2017-07, “Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” which requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. It also requires the other components of net periodic pension cost and net periodic postretirement benefit cost as defined in paragraphs 715-30-35-4 and 715-60-35-9 to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. Additionally, only the service cost component is eligible for capitalization, when applicable. The Company plans to adopt ASU No. 2017-07 in the first quarter of 2018 and has not yet determined the impact of adoption.

Credit agreements

Credit agreements	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Credit agreements	Credit agreements HEI . On April 2, 2014, HEI and a syndicate of nine financial institutions entered into an amended and restated revolving non-collateralized credit agreement (HEI Facility). The HEI Facility increased HEI’s line of credit to $150 million from $125 million , extended the term of the facility to April 2, 2019, and provided improved pricing compared to HEI’s prior facility. Under the HEI Facility, draws would generally bear interest, based on HEI’s current long-term credit ratings, at the “Adjusted LIBO Rate,” as defined in the agreement, plus 137.5 basis points and annual fees on undrawn commitments of 20 basis points. The HEI Facility contains updated provisions for pricing adjustments in the event of a long-term ratings change based on the HEI Facility’s ratings-based pricing grid. Certain modifications were made to incorporate some updated terms and conditions customary for facilities of this type. In addition, the HEI Consolidated Net Worth covenant, as defined in the original facility, was removed from the HEI Facility, leaving only one financial covenant (relating to HEI’s ratio of funded debt to total capitalization, each on a non-consolidated basis). Under the credit agreement, it is an event of default if HEI fails to maintain an unconsolidated “Capitalization Ratio” (funded debt) of 50% or less (actual ratio of 13% as of March 31, 2017 , as calculated under the agreement) or if HEI no longer owns Hawaiian Electric. The HEI Facility continues to contain customary conditions which must be met in order to draw on it, including compliance with covenants (such as covenants preventing HEI’s subsidiaries from entering into agreements that restrict the ability of the subsidiaries to pay dividends to, or to repay borrowings from, HEI). The HEI Facility will be maintained to support the issuance of commercial paper, but also may be drawn to repay HEI’s short-term and long-term indebtedness, to make investments in or loans to subsidiaries and for HEI’s working capital and general corporate purposes. Hawaiian Electric . On April 2, 2014, Hawaiian Electric and a syndicate of nine financial institutions entered into an amended and restated revolving non-collateralized credit agreement (Hawaiian Electric Facility). The Hawaiian Electric Facility increased Hawaiian Electric’s line of credit to $200 million from $175 million . In January 2015, the PUC approved Hawaiian Electric’s request to extend the term of the credit facility to April 2, 2019. The Hawaiian Electric Facility provided improved pricing compared to its prior facility. Under the Hawaiian Electric Facility, draws would generally bear interest, based on Hawaiian Electric’s current long-term credit ratings, at the “Adjusted LIBO Rate,” as defined in the agreement, plus 137.5 basis points and annual fees on undrawn commitments of 20 basis points. The Hawaiian Electric Facility contains updated provisions for pricing adjustments in the event of a long-term ratings change based on the Hawaiian Electric Facility’s ratings-based pricing grid. Certain modifications were made to incorporate some updated terms and conditions customary for facilities of this type. The Hawaiian Electric Facility continues to contain customary conditions which must be met in order to draw on it, including compliance with several covenants (such as covenants preventing its subsidiaries from entering into agreements that restrict the ability of the subsidiaries to pay dividends to, or to repay borrowings from, Hawaiian Electric, and restricting its ability as well as the ability of any of its subsidiaries to guarantee additional indebtedness of the subsidiaries if such additional debt would cause the subsidiary’s “Consolidated Subsidiary Funded Debt to Capitalization Ratio” to exceed 65% (ratio of 42% for Hawaii Electric Light and 42% for Maui Electric as of March 31, 2017 , as calculated under the agreement)). In addition to customary defaults, Hawaiian Electric’s failure to maintain its financial ratios, as defined in its credit agreement, or meet other requirements may result in an event of default. For example, under the credit agreement, it is an event of default if Hawaiian Electric fails to maintain a “Consolidated Capitalization Ratio” (equity) of at least 35% (ratio of 57% as of March 31, 2017 , as calculated under the credit agreement), or if Hawaiian Electric is no longer owned by HEI. The Hawaiian Electric Facility will be maintained to support the issuance of commercial paper, but also may be drawn to repay Hawaiian Electric’s short-term indebtedness, to make loans to subsidiaries and for Hawaiian Electric’s capital expenditures, working capital and general corporate purposes.

Related party transactions

Related party transactions	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related party transactions	Related party transactions For general management and administrative services in the three months ended March 31, 2017 and 2016, HEI charged the Utilities $1.4 million and $2.1 million , respectively. The amounts charged by HEI to its subsidiaries for services provided by HEI employees are allocated primarily on the basis of time expended in providing such services. Mr. Timothy Johns, a member of the Hawaiian Electric Board of Directors, is an executive officer of Hawaii Medical Service Association (HMSA). Ms. Susan Li, an executive of Hawaiian Electric, is the Chair of the Hawaii Dental Service (HDS) Board of Directors. The Company’s HMSA costs and expense (for health insurance premiums, claims plus administration expense and stop-loss insurance coverages) and HDS costs and expense (for dental insurance premiums) and the Utilities’ HMSA costs and expense (for health insurance premiums) and HDS costs and expense (for dental insurance premiums) were as follows: Three months ended March 31 (in millions) 2017 2016 HEI consolidated HMSA costs $ 7 $ 7 HMSA expense* 5 5 HDS costs 1 1 HDS expense* 1 1 Hawaiian Electric consolidated HMSA costs 6 6 HMSA expense* 4 3 HDS costs 1 1 HDS expense* — — * Charged the remaining costs primarily to electric utility plant. The costs and expense in the table above are gross amounts (i.e., not net of employee contributions to employee benefits).

Basis of presentation (Policies

Basis of presentation (Policies)	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent accounting pronouncements	Revenues from contracts with customers. In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The core principle of the guidance in ASU No. 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should: (1) identify the contract/s with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when, or as, the entity satisfies a performance obligation. ASU No. 2014-09 also requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. As of March 31, 2017, the Company has identified its revenue streams from, and performance obligations to, customers. The Company continues to monitor development of industry-specific application guidance and is currently evaluating the impacts of adoption of ASU No. 2014-09. The Company plans to adopt ASU No. 2014-09 (and subsequently issued revenue-related ASUs, as applicable) in the first quarter of 2018, but has not determined the method of adoption (full or modified retrospective application). The Company expects to present additional revenue disclosures, but the full impact of adoption of ASU No. 2014-09 on its results of operations, financial condition and liquidity cannot be determined until its evaluation process is complete. Financial instruments. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities,” which, among other things: • Requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. • Requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. • Requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables). • Eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. The Company plans to adopt ASU No. 2016-01 in the first quarter of 2018 and has not yet determined the impact of adoption. Leases . In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires that lessees recognize a liability to make lease payments (the lease liability) and a right-of-use asset, representing its right to use the underlying asset for the lease term, for all leases (except short-term leases) at the commencement date. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election and recognize lease expense for such leases generally on a straight-line basis over the lease term. For finance leases, a lessee is required to recognize interest on the lease liability separately from amortization of the right-of-use asset in the statement of comprehensive income. For operating leases, a lessee is required to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis. The Company plans to adopt ASU No. 2016-02 in the first quarter of 2019 (using a modified retrospective transition approach for leases existing at, or entered into after, January 1, 2017) and has not yet determined the impact of adoption. Stock compensation. In March 2016, the FASB issued ASU No. 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting,” which simplifies several aspects of the accounting for share-based payment transactions. The Company adopted ASU No. 2016-09 in the first quarter of 2017. From January 1, 2017, all excess tax benefits and tax deficiencies are recognized as income tax expense or benefit in the income statement. From January 1, 2017, no excess tax benefits and deficiencies are included in determining the assumed proceeds under the treasury stock method of calculating diluted EPS. As of January 1, 2017, HEI adopted an accounting policy to account for forfeitures when they occur. From January 1, 2017, HEI retrospectively applied the cashflow guidance for taxes paid (equivalent to the value of withheld shares for tax withholding purposes) and excess tax benefits. Excess tax benefits will be classified along with other income tax cash flows as an operating activity and the cash payments made to taxing authorities on the employees’ behalf for withheld shares will be classified as financing activities on the HEI Consolidated Statements of Cash Flows for all periods that are presented. Credit Losses . In June 2016, the FASB issued ASU No. 2016-13, “ Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ,” which is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations . ASU No. 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date (based on historical experience, current conditions and reasonable and supportable forecasts) and enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU No. 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The other-than-temporary impairment model of accounting for credit losses on AFS debt securities will be replaced with an estimate of expected credit losses only when the fair value is below the amortized cost of the asset. The length of time the fair value of an AFS debt security has been below the amortized cost will no longer impact the determination of whether a credit loss exists. The AFS debt security model will also require the use of an allowance to record the estimated losses (and subsequent recoveries). The accounting for the initial recognition of the estimated expected credit losses for purchased financial assets with credit deterioration would be recognized through an allowance for loan losses with an offset to the cost basis of the related financial asset at acquisition (i.e., there is no impact to net income at initial recognition). The Company plans to adopt ASU No. 2016-13 in the first quarter of 2020 and has not yet determined the impact of adoption. Cash Flows . In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which provides guidance on eight specific cash flow issues - debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies), distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. The Company plans to adopt ASU No. 2016-15 in the first quarter of 2018 using a retrospective transition method and has not yet determined the impact of adoption. Intra-entity transfers of assets other than inventory. In October 2016, the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory,” which changes current guidance that prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party by requiring the recognition of the income tax consequences of such transfer when it occurs. The Company plans to adopt ASU No. 2016-16 in the first quarter of 2018 using a modified retrospective transition method and believes the impact of adoption will be immaterial to the Company’s and Hawaiian Electric’s condensed consolidated financial statements. Restricted cash. In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The Company plans to adopt ASU No. 2016-18 in the first quarter of 2018 using a retrospective transition method and believes the impact of adoption will not be material to the Company’s and Hawaiian Electric’s consolidated statements of cash flows. Goodwill impairment. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” Prior to the adoption of ASU No. 2017-04, an entity was required to perform a two-step test to determine the amount, if any, of goodwill impairment. In Step 1, an entity compared the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeded its fair value, the entity performed Step 2 and compared the implied fair value of goodwill with the carrying amount of that goodwill for that reporting unit. An impairment charge equal to the amount by which the carrying amount of goodwill for the reporting unit exceeded the implied fair value of that goodwill would then be recorded. ASU No. 2017-04 removes the second step of the test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value. ASU No. 2017-04 does not amend the optional qualitative assessment of goodwill impairment. The Company plans to adopt ASU No. 2017-04 prospectively in 2017 and does not expect the impact of adoption to be material. Net periodic pension cost and net periodic postretirement benefit cost. In March 2017, the FASB issued ASU No. 2017-07, “Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” which requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. It also requires the other components of net periodic pension cost and net periodic postretirement benefit cost as defined in paragraphs 715-30-35-4 and 715-60-35-9 to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. Additionally, only the service cost component is eligible for capitalization, when applicable. The Company plans to adopt ASU No. 2017-07 in the first quarter of 2018 and has not yet determined the impact of adoption.

Segment financial information (

Segment financial information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of segment financial information	(in thousands) Electric utility Bank Other Total Three months ended March 31, 2017 Revenues from external customers $ 518,566 $ 72,856 $ 140 $ 591,562 Intersegment revenues (eliminations) 45 — (45 ) — Revenues $ 518,611 $ 72,856 $ 95 $ 591,562 Income (loss) before income taxes $ 34,722 $ 24,160 $ (7,300 ) $ 51,582 Income taxes (benefit) 12,758 8,347 (4,189 ) 16,916 Net income (loss) 21,964 15,813 (3,111 ) 34,666 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock $ 21,465 $ 15,813 $ (3,085 ) $ 34,193 Total assets (at March 31, 2017) $ 5,969,042 $ 6,559,646 $ 14,587 $ 12,543,275 Three months ended March 31, 2016 Revenues from external customers $ 482,045 $ 68,840 $ 75 $ 550,960 Intersegment revenues (eliminations) 7 — (7 ) — Revenues $ 482,052 $ 68,840 $ 68 $ 550,960 Income (loss) before income taxes $ 40,419 $ 19,594 $ (8,887 ) $ 51,126 Income taxes (benefit) 14,553 6,921 (3,173 ) 18,301 Net income (loss) 25,866 12,673 (5,714 ) 32,825 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock $ 25,367 $ 12,673 $ (5,688 ) $ 32,352 Total assets (at December 31, 2016) $ 5,975,428 $ 6,421,357 $ 28,721 $ 12,425,506

Electric utility segment (Table

Electric utility segment (Tables)	3 Months Ended
	Mar. 31, 2017
Regulatory projects and legal obligations
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 March 31, 2017 December 31, 2016 (in thousands) Asset derivatives Liability derivatives Asset derivatives Liability Interest rate lock commitments $ 317 $ — $ 445 $ 24 Forward commitments — 104 8 185 $ 317 $ 104 $ 453 $ 209 1 Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the balance sheets.
Schedule of condensed consolidating statements of income (loss)	Statements of Income Data (unaudited) Three months ended March 31 (in thousands) 2017 2016 Interest and dividend income Interest and fees on loans $ 50,742 $ 48,437 Interest and dividends on investment securities 6,980 5,017 Total interest and dividend income 57,722 53,454 Interest expense Interest on deposit liabilities 2,103 1,592 Interest on other borrowings 816 1,485 Total interest expense 2,919 3,077 Net interest income 54,803 50,377 Provision for loan losses 3,907 4,766 Net interest income after provision for loan losses 50,896 45,611 Noninterest income Fees from other financial services 5,610 5,499 Fee income on deposit liabilities 5,428 5,156 Fee income on other financial products 1,866 2,205 Bank-owned life insurance 983 998 Mortgage banking income 789 1,195 Other income, net 458 333 Total noninterest income 15,134 15,386 Noninterest expense Compensation and employee benefits 23,237 22,434 Occupancy 4,154 4,138 Data processing 3,280 3,172 Services 2,360 2,911 Equipment 1,748 1,663 Office supplies, printing and postage 1,535 1,365 Marketing 517 861 FDIC insurance 728 884 Other expense 4,311 3,975 Total noninterest expense 41,870 41,403 Income before income taxes 24,160 19,594 Income taxes 8,347 6,921 Net income $ 15,813 $ 12,673
Schedule of condensed consolidating balance sheets	Balance Sheets Data (unaudited) (in thousands) March 31, 2017 December 31, 2016 Assets Cash and due from banks $ 125,901 $ 137,083 Interest-bearing deposits 94,573 52,128 Restricted cash — 1,764 Available-for-sale investment securities, at fair value 1,228,922 1,105,182 Stock in Federal Home Loan Bank, at cost 11,706 11,218 Loans receivable held for investment 4,725,271 4,738,693 Allowance for loan losses (55,997 ) (55,533 ) Net loans 4,669,274 4,683,160 Loans held for sale, at lower of cost or fair value 10,454 18,817 Other 336,626 329,815 Goodwill 82,190 82,190 Total assets $ 6,559,646 $ 6,421,357 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,696,390 $ 1,639,051 Deposit liabilities—interest-bearing 3,978,700 3,909,878 Other borrowings 200,154 192,618 Other 98,223 101,635 Total liabilities 5,973,467 5,843,182 Commitments and contingencies Common stock 1 1 Additional paid in capital 343,435 342,704 Retained earnings 264,381 257,943 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (7,708 ) $ (7,931 ) Retirement benefit plans (13,930 ) (21,638 ) (14,542 ) (22,473 ) Total shareholder’s equity 586,179 578,175 Total liabilities and shareholder’s equity $ 6,559,646 $ 6,421,357 Other assets Bank-owned life insurance $ 144,661 $ 143,197 Premises and equipment, net 94,865 90,570 Prepaid expenses 4,031 3,348 Accrued interest receivable 16,508 16,824 Mortgage-servicing rights 9,294 9,373 Low-income housing equity investments 46,782 47,081 Real estate acquired in settlement of loans, net 1,242 1,189 Other 19,243 18,233 $ 336,626 $ 329,815 Other liabilities Accrued expenses $ 32,324 $ 36,754 Federal and state income taxes payable 10,642 4,728 Cashier’s checks 23,777 24,156 Advance payments by borrowers 6,134 10,335 Other 25,346 25,662 $ 98,223 $ 101,635
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory projects and legal obligations
Schedule of purchases from all IPPs	Purchases from all IPPs were as follows: Three months ended March 31 (in millions) 2017 2016 Kalaeloa $ 40 $ 29 AES Hawaii 29 38 HPOWER 17 16 Puna Geothermal Venture 8 7 HEP 7 11 Other IPPs 1 26 15 Total IPPs $ 127 $ 116 1 Includes wind power, solar power, feed-in tariff projects and other PPAs.
Schedule of changes in asset retirement obligation	Changes to the ARO liability included in “Other liabilities” on Hawaiian Electric’s balance sheet were as follows: Three months ended March 31 (in thousands) 2017 2016 Balance, beginning of period $ 25,589 $ 26,848 Accretion expense 3 3 Liabilities incurred — — Liabilities settled (403 ) (138 ) Revisions in estimated cash flows — — Balance, end of period $ 25,189 $ 26,713
Schedule of net annual incremental amounts proposed to be collected (refunded)	The net annual incremental amounts proposed to be collected (refunded) were as follows: ($ in millions) Hawaiian Electric Hawaii Electric Light Maui Electric 2017 Annual incremental RAM adjusted revenues $ 12.7 $ 3.2 $ 2.4 Annual change in accrued earnings sharing credits $ — $ — $ — Annual change in accrued RBA balance as of December 31, 2016 (and associated revenue taxes) (refunded) $ (2.4 ) $ (2.5 ) $ (0.2 ) Net annual incremental amount to be collected under the tariffs $ 10.3 $ 0.7 $ 2.2 Impact on typical residential customer monthly bill (in dollars) * $ 0.60 $ 0.15 $ 1.18 * Based on a 500 kilowatthour (KWH) bill for Hawaiian Electric, Maui Electric, and Hawaii Electric Light. The bill impact for Lanai and Molokai customers is expected to be an increase of $ 0.95 , based on a 400 KWH bill.
Schedule of derivative financial instruments	March 31, 2017 December 31, 2016 (dollars in thousands) Notional amount Fair value Notional amount Fair value Window forward contracts $ 15,838 $ (277 ) $ 20,734 $ (743 )
Schedule of condensed consolidating statements of income (loss)	Condensed Consolidating Statement of Income (unaudited) Three months ended March 31, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 362,843 78,982 76,793 — (7 ) $ 518,611 Expenses Fuel oil 98,001 17,257 29,012 — — 144,270 Purchased power 100,147 18,589 8,388 — — 127,124 Other operation and maintenance 67,278 15,516 17,446 — — 100,240 Depreciation 32,722 9,685 5,809 — — 48,216 Taxes, other than income taxes 35,040 7,450 7,333 — — 49,823 Total expenses 333,188 68,497 67,988 — — 469,673 Operating income 29,655 10,485 8,805 — (7 ) 48,938 Allowance for equity funds used during construction 2,056 115 228 — — 2,399 Equity in earnings of subsidiaries 8,603 — — — (8,603 ) — Interest expense and other charges, net (12,057 ) (3,004 ) (2,450 ) — 7 (17,504 ) Allowance for borrowed funds used during construction 749 45 95 — — 889 Income before income taxes 29,006 7,641 6,678 — (8,603 ) 34,722 Income taxes 7,271 2,923 2,564 — — 12,758 Net income 21,735 4,718 4,114 — (8,603 ) 21,964 Preferred stock dividends of subsidiaries — 134 95 — — 229 Net income attributable to Hawaiian Electric 21,735 4,584 4,019 — (8,603 ) 21,735 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 21,465 4,584 4,019 — (8,603 ) $ 21,465 Condensed Consolidating Statement of Income (unaudited) Three months ended March 31, 2016 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 337,175 73,183 71,706 — (12 ) $ 482,052 Expenses Fuel oil 74,085 14,374 25,281 — — 113,740 Purchased power 91,917 16,797 7,145 — — 115,859 Other operation and maintenance 69,558 16,441 17,909 — — 103,908 Depreciation 31,522 9,449 5,810 — — 46,781 Taxes, other than income taxes 32,684 6,891 6,863 — — 46,438 Total expenses 299,766 63,952 63,008 — — 426,726 Operating income 37,409 9,231 8,698 — (12 ) 55,326 Allowance for equity funds used during construction 1,406 127 206 — — 1,739 Equity in earnings of subsidiaries 7,929 — — — (7,929 ) — Interest expense and other charges, net (11,865 ) (2,965 ) (2,490 ) — 12 (17,308 ) Allowance for borrowed funds used during construction 529 49 84 — — 662 Income before income taxes 35,408 6,442 6,498 — (7,929 ) 40,419 Income taxes 9,771 2,346 2,436 — — 14,553 Net income 25,637 4,096 4,062 — (7,929 ) 25,866 Preferred stock dividends of subsidiaries — 134 95 — — 229 Net income attributable to Hawaiian Electric 25,637 3,962 3,967 — (7,929 ) 25,637 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 25,367 3,962 3,967 — (7,929 ) $ 25,367
Schedule of condensed consolidating statement of comprehensive income (loss)	Condensed Consolidating Statement of Comprehensive Income (unaudited) Three months ended March 31, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 21,465 4,584 4,019 — (8,603 ) $ 21,465 Other comprehensive income (loss), net of taxes: Derivatives qualifying as cash flow hedges: Reclassification adjustment to net income, net of tax benefits 454 — — — — 454 Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 3,618 503 466 — (969 ) 3,618 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (3,613 ) (503 ) (467 ) — 970 (3,613 ) Other comprehensive income (loss), net of taxes 459 — (1 ) — 1 459 Comprehensive income attributable to common shareholder $ 21,924 4,584 4,018 — (8,602 ) $ 21,924 Condensed Consolidating Statement of Comprehensive Income (unaudited) Three months ended March 31, 2016 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 25,367 3,962 3,967 — (7,929 ) $ 25,367 Other comprehensive income, net of taxes: Derivatives qualifying as cash flow hedges: Effective portion of foreign currency hedge net unrealized gain, net of taxes 1,002 — — — — 1,002 Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 3,236 458 418 — (876 ) 3,236 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (3,222 ) (458 ) (418 ) — 876 (3,222 ) Other comprehensive income, net of taxes 1,016 — — — — 1,016 Comprehensive income attributable to common shareholder $ 26,383 3,962 3,967 — (7,929 ) $ 26,383
Schedule of condensed consolidating balance sheets	Condensed Consolidating Balance Sheet (unaudited) December 31, 2016 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consoli- dating adjustments Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 43,956 6,181 3,016 — — $ 53,153 Plant and equipment 4,241,060 1,255,185 1,109,487 — — 6,605,732 Less accumulated depreciation (1,382,972 ) (507,666 ) (478,644 ) — — (2,369,282 ) Construction in progress 180,194 12,510 19,038 — — 211,742 Utility property, plant and equipment, net 3,082,238 766,210 652,897 — — 4,501,345 Nonutility property, plant and equipment, less accumulated depreciation 5,760 115 1,532 — — 7,407 Total property, plant and equipment, net 3,087,998 766,325 654,429 — — 4,508,752 Investment in wholly owned subsidiaries, at equity 550,946 — — — (550,946 ) — Current assets Cash and cash equivalents 61,388 10,749 2,048 101 — 74,286 Advances to affiliates — 3,500 10,000 — (13,500 ) — Customer accounts receivable, net 86,373 20,055 17,260 — — 123,688 Accrued unbilled revenues, net 65,821 13,564 12,308 — — 91,693 Other accounts receivable, net 7,652 2,445 1,416 — (6,280 ) 5,233 Fuel oil stock, at average cost 47,239 8,229 10,962 — — 66,430 Materials and supplies, at average cost 29,928 7,380 16,371 — — 53,679 Prepayments and other 16,502 5,352 2,179 — (933 ) 23,100 Regulatory assets 60,185 3,483 2,364 — — 66,032 Total current assets 375,088 74,757 74,908 101 (20,713 ) 504,141 Other long-term assets Regulatory assets 662,232 120,863 108,324 — — 891,419 Unamortized debt expense 151 23 34 — — 208 Other 43,743 13,573 13,592 — — 70,908 Total other long-term assets 706,126 134,459 121,950 — — 962,535 Total assets $ 4,720,158 975,541 851,287 101 (571,659 ) $ 5,975,428 Capitalization and liabilities Capitalization Common stock equity $ 1,799,787 291,291 259,554 101 (550,946 ) $ 1,799,787 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 915,437 213,703 190,120 — — 1,319,260 Total capitalization 2,737,517 511,994 454,674 101 (550,946 ) 3,153,340 Current liabilities Short-term borrowings from affiliate 13,500 — — — (13,500 ) — Accounts payable 86,369 18,126 13,319 — — 117,814 Interest and preferred dividends payable 15,761 4,206 2,882 — (11 ) 22,838 Taxes accrued 120,176 28,100 25,387 — (933 ) 172,730 Regulatory liabilities — 2,219 1,543 — — 3,762 Other 41,352 7,637 12,501 — (6,269 ) 55,221 Total current liabilities 277,158 60,288 55,632 — (20,713 ) 372,365 Deferred credits and other liabilities Deferred income taxes 524,433 108,052 100,911 — 263 733,659 Regulatory liabilities 281,112 93,974 31,845 — — 406,931 Unamortized tax credits 57,844 15,994 15,123 — — 88,961 Defined benefit pension and other postretirement benefit plans liability 444,458 75,005 80,263 — — 599,726 Other 49,191 13,024 14,969 — (263 ) 76,921 Total deferred credits and other liabilities 1,357,038 306,049 243,111 — — 1,906,198 Contributions in aid of construction 348,445 97,210 97,870 — — 543,525 Total capitalization and liabilities $ 4,720,158 975,541 851,287 101 (571,659 ) $ 5,975,428 Condensed Consolidating Balance Sheet (unaudited) March 31, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consoli- dating adjustments Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 43,950 6,191 3,016 — — $ 53,157 Plant and equipment 4,272,395 1,261,079 1,117,620 — — 6,651,094 Less accumulated depreciation (1,404,024 ) (511,473 ) (483,725 ) — — (2,399,222 ) Construction in progress 196,535 13,249 20,288 — — 230,072 Utility property, plant and equipment, net 3,108,856 769,046 657,199 — — 4,535,101 Nonutility property, plant and equipment, less accumulated depreciation 5,763 115 1,532 — — 7,410 Total property, plant and equipment, net 3,114,619 769,161 658,731 — — 4,542,511 Investment in wholly owned subsidiaries, at equity 552,688 — — — (552,688 ) — Current assets Cash and cash equivalents 8,617 2,952 1,537 101 — 13,207 Advances to affiliates — 6,500 2,500 — (9,000 ) — Customer accounts receivable, net 82,389 18,735 16,866 — — 117,990 Accrued unbilled revenues, net 70,398 13,883 13,351 — — 97,632 Other accounts receivable, net 24,489 2,526 1,125 — (7,752 ) 20,388 Fuel oil stock, at average cost 56,473 6,744 10,657 — — 73,874 Materials and supplies, at average cost 32,195 8,494 16,356 — — 57,045 Prepayments and other 21,150 4,621 3,163 — — 28,934 Regulatory assets 73,548 4,210 4,194 — — 81,952 Total current assets 369,259 68,665 69,749 101 (16,752 ) 491,022 Other long-term assets Regulatory assets 637,014 119,783 106,660 — — 863,457 Unamortized debt expense 133 20 30 — — 183 Other 44,598 13,120 14,151 — — 71,869 Total other long-term assets 681,745 132,923 120,841 — — 935,509 Total assets $ 4,718,311 970,749 849,321 101 (569,440 ) $ 5,969,042 Capitalization and liabilities Capitalization Common stock equity $ 1,799,769 292,001 260,586 101 (552,688 ) $ 1,799,769 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 915,175 213,732 189,964 — — 1,318,871 Total capitalization 2,737,237 512,733 455,550 101 (552,688 ) 3,152,933 Current liabilities Short-term borrowings from non-affiliates 1,500 — — — — 1,500 Short-term borrowings from affiliate 9,000 — — — (9,000 ) — Accounts payable 103,957 14,665 11,241 — — 129,863 Interest and preferred dividends payable 18,172 4,007 3,997 — (2 ) 26,174 Taxes accrued 90,035 21,965 19,330 — — 131,330 Regulatory liabilities — 2,004 687 — — 2,691 Other 42,721 7,938 13,326 — (7,750 ) 56,235 Total current liabilities 265,385 50,579 48,581 — (16,752 ) 347,793 Deferred credits and other liabilities Deferred income taxes 532,497 109,733 103,572 — 215 746,017 Regulatory liabilities 288,748 96,380 32,121 — — 417,249 Unamortized tax credits 58,691 16,941 15,380 — — 91,012 Defined benefit pension and other postretirement benefit plans liability 440,246 74,100 79,510 — — 593,856 Other 49,630 12,996 16,197 — (215 ) 78,608 Total deferred credits and other liabilities 1,369,812 310,150 246,780 — — 1,926,742 Contributions in aid of construction 345,877 97,287 98,410 — — 541,574 Total capitalization and liabilities $ 4,718,311 970,749 849,321 101 (569,440 ) $ 5,969,042
Schedule of condensed consolidating statement of changes in common stock equity	Condensed Consolidating Statement of Changes in Common Stock Equity (unaudited) Three months ended March 31, 2016 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Balance, December 31, 2015 $ 1,728,325 292,702 263,725 101 (556,528 ) $ 1,728,325 Net income for common stock 25,367 3,962 3,967 — (7,929 ) 25,367 Other comprehensive income, net of taxes 1,016 — — — — 1,016 Common stock dividends (23,400 ) (3,302 ) (3,265 ) — 6,567 (23,400 ) Common stock issuance expenses (4 ) (4 ) (1 ) — 5 (4 ) Balance, March 31, 2016 $ 1,731,304 293,358 264,426 101 (557,885 ) $ 1,731,304 Condensed Consolidating Statement of Changes in Common Stock Equity (unaudited) Three months ended March 31, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Balance, December 31, 2016 $ 1,799,787 291,291 259,554 101 (550,946 ) $ 1,799,787 Net income for common stock 21,465 4,584 4,019 — (8,603 ) 21,465 Other comprehensive income (loss), net of taxes 459 — (1 ) — 1 459 Common stock dividends (21,942 ) (3,874 ) (2,986 ) — 6,860 (21,942 ) Balance, March 31, 2017 $ 1,799,769 292,001 260,586 101 (552,688 ) $ 1,799,769
Schedule of condensed condensed consolidating statement of cash flows	Condensed Consolidating Statement of Cash Flows (unaudited) Three months ended March 31, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Cash flows from operating activities Net income $ 21,735 4,718 4,114 — (8,603 ) $ 21,964 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (8,628 ) — — — 8,603 (25 ) Common stock dividends received from subsidiaries 6,910 — — — (6,860 ) 50 Depreciation of property, plant and equipment 32,722 9,685 5,809 — — 48,216 Other amortization 914 442 593 — — 1,949 Deferred income taxes 6,810 1,700 2,602 — (48 ) 11,064 Allowance for equity funds used during construction (2,056 ) (115 ) (228 ) — — (2,399 ) Other 661 (138 ) (87 ) — — 436 Changes in assets and liabilities: Decrease (increase) in accounts receivable (10,724 ) 1,239 685 — 1,472 (7,328 ) Increase in accrued unbilled revenues (4,577 ) (319 ) (1,043 ) — — (5,939 ) Decrease (increase) in fuel oil stock (9,234 ) 1,485 305 — — (7,444 ) Decrease (increase) in materials and supplies (2,267 ) (1,114 ) 15 — — (3,366 ) Decrease (increase) in regulatory assets 7,711 (677 ) (1,125 ) — — 5,909 Increase in accounts payable 59,861 2,735 1,578 — — 64,174 Change in prepaid and accrued income taxes, tax credits and revenue taxes (32,272 ) (5,352 ) (6,408 ) — 48 (43,984 ) Increase in defined benefit pension and other postretirement benefit plans liability 240 14 10 — — 264 Change in other assets and liabilities (4,249 ) 805 197 — (1,472 ) (4,719 ) Net cash provided by operating activities 63,557 15,108 7,017 — (6,860 ) 78,822 Cash flows from investing activities Capital expenditures (101,953 ) (16,890 ) (12,812 ) — — (131,655 ) Contributions in aid of construction 8,934 915 801 — — 10,650 Other 2,352 78 272 — — 2,702 Advances from affiliates — (3,000 ) 7,500 — (4,500 ) — Net cash used in investing activities (90,667 ) (18,897 ) (4,239 ) — (4,500 ) (118,303 ) Cash flows from financing activities Common stock dividends (21,942 ) (3,874 ) (2,986 ) — 6,860 (21,942 ) Preferred stock dividends of Hawaiian Electric and subsidiaries (270 ) (134 ) (95 ) — — (499 ) Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less (3,000 ) — — — 4,500 1,500 Other (449 ) — (208 ) — — (657 ) Net cash used in financing activities (25,661 ) (4,008 ) (3,289 ) — 11,360 (21,598 ) Net increase (decrease) in cash and cash equivalents (52,771 ) (7,797 ) (511 ) — — (61,079 ) Cash and cash equivalents, beginning of period 61,388 10,749 2,048 101 — 74,286 Cash and cash equivalents, end of period $ 8,617 2,952 1,537 101 — $ 13,207 Condensed Consolidating Statement of Cash Flows (unaudited) Three months ended March 31, 2016 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Cash flows from operating activities Net income $ 25,637 4,096 4,062 — (7,929 ) $ 25,866 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (7,954 ) — — — 7,929 (25 ) Common stock dividends received from subsidiaries 6,592 — — — (6,567 ) 25 Depreciation of property, plant and equipment 31,522 9,449 5,810 — — 46,781 Other amortization 1,045 268 461 — — 1,774 Deferred income taxes 9,764 1,277 2,517 — — 13,558 Allowance for equity funds used during construction (1,406 ) (127 ) (206 ) — — (1,739 ) Other 1,386 154 162 — — 1,702 Changes in assets and liabilities: Decrease in accounts receivable 22,606 2,113 3,563 — 15 28,297 Decrease (increase) in accrued unbilled revenues 58 (326 ) (590 ) — — (858 ) Decrease in fuel oil stock 14,902 2,622 5,288 — — 22,812 Decrease (increase) in materials and supplies 378 (27 ) (178 ) — — 173 Increase in regulatory assets 79 397 1,109 — — 1,585 Increase in accounts payable 24,827 1,652 1,287 — — 27,766 Change in prepaid and accrued income taxes, tax credits and revenue taxes (31,916 ) (1,634 ) (8,466 ) — (2 ) (42,018 ) Increase in defined benefit pension and other postretirement benefit plans liability 177 13 15 — — 205 Change in other assets and liabilities 15,249 5,562 169 — (13 ) 20,967 Net cash provided by operating activities 112,946 25,489 15,003 — (6,567 ) 146,871 Cash flows from investing activities Capital expenditures (97,363 ) (16,649 ) (11,171 ) — — (125,183 ) Contributions in aid of construction 11,585 969 1,207 — — 13,761 Other 22 23 — — — 45 Advances from affiliates — 3,000 500 — (3,500 ) — Net cash used in investing activities (85,756 ) (12,657 ) (9,464 ) — (3,500 ) (111,377 ) Cash flows from financing activities Common stock dividends (23,400 ) (3,302 ) (3,265 ) — 6,567 (23,400 ) Preferred stock dividends of Hawaiian Electric and subsidiaries (270 ) (134 ) (95 ) — — (499 ) Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 9,498 — — — 3,500 12,998 Other 8 (8 ) — — — — Net cash used in financing activities (14,164 ) (3,444 ) (3,360 ) — 10,067 (10,901 ) Net increase in cash and cash equivalents 13,026 9,388 2,179 — — 24,593 Cash and cash equivalents, beginning of period 16,281 2,682 5,385 101 — 24,449 Cash and cash equivalents, end of period $ 29,307 12,070 7,564 101 — $ 49,042

Bank segment (Tables)

Bank segment (Tables)	3 Months Ended
	Mar. 31, 2017
Bank subsidiary
Schedule of statements of income data	Statements of Income Data (unaudited) Three months ended March 31 (in thousands) 2017 2016 Interest and dividend income Interest and fees on loans $ 50,742 $ 48,437 Interest and dividends on investment securities 6,980 5,017 Total interest and dividend income 57,722 53,454 Interest expense Interest on deposit liabilities 2,103 1,592 Interest on other borrowings 816 1,485 Total interest expense 2,919 3,077 Net interest income 54,803 50,377 Provision for loan losses 3,907 4,766 Net interest income after provision for loan losses 50,896 45,611 Noninterest income Fees from other financial services 5,610 5,499 Fee income on deposit liabilities 5,428 5,156 Fee income on other financial products 1,866 2,205 Bank-owned life insurance 983 998 Mortgage banking income 789 1,195 Other income, net 458 333 Total noninterest income 15,134 15,386 Noninterest expense Compensation and employee benefits 23,237 22,434 Occupancy 4,154 4,138 Data processing 3,280 3,172 Services 2,360 2,911 Equipment 1,748 1,663 Office supplies, printing and postage 1,535 1,365 Marketing 517 861 FDIC insurance 728 884 Other expense 4,311 3,975 Total noninterest expense 41,870 41,403 Income before income taxes 24,160 19,594 Income taxes 8,347 6,921 Net income $ 15,813 $ 12,673
Schedule of statements of comprehensive income data	Statements of Comprehensive Income Data (unaudited) Three months ended March 31 (in thousands) 2017 2016 Net income $ 15,813 $ 12,673 Other comprehensive income, net of taxes: Net unrealized gains on available-for-sale investment securities: Net unrealized gains on available-for-sale investment securities arising during the period, net of taxes of $148 and $4,905, respectively 223 7,429 Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $404 and $137, respectively 612 208 Other comprehensive income, net of taxes 835 7,637 Comprehensive income $ 16,648 $ 20,310
Schedule of balance sheets data	Balance Sheets Data (unaudited) (in thousands) March 31, 2017 December 31, 2016 Assets Cash and due from banks $ 125,901 $ 137,083 Interest-bearing deposits 94,573 52,128 Restricted cash — 1,764 Available-for-sale investment securities, at fair value 1,228,922 1,105,182 Stock in Federal Home Loan Bank, at cost 11,706 11,218 Loans receivable held for investment 4,725,271 4,738,693 Allowance for loan losses (55,997 ) (55,533 ) Net loans 4,669,274 4,683,160 Loans held for sale, at lower of cost or fair value 10,454 18,817 Other 336,626 329,815 Goodwill 82,190 82,190 Total assets $ 6,559,646 $ 6,421,357 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,696,390 $ 1,639,051 Deposit liabilities—interest-bearing 3,978,700 3,909,878 Other borrowings 200,154 192,618 Other 98,223 101,635 Total liabilities 5,973,467 5,843,182 Commitments and contingencies Common stock 1 1 Additional paid in capital 343,435 342,704 Retained earnings 264,381 257,943 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (7,708 ) $ (7,931 ) Retirement benefit plans (13,930 ) (21,638 ) (14,542 ) (22,473 ) Total shareholder’s equity 586,179 578,175 Total liabilities and shareholder’s equity $ 6,559,646 $ 6,421,357 Other assets Bank-owned life insurance $ 144,661 $ 143,197 Premises and equipment, net 94,865 90,570 Prepaid expenses 4,031 3,348 Accrued interest receivable 16,508 16,824 Mortgage-servicing rights 9,294 9,373 Low-income housing equity investments 46,782 47,081 Real estate acquired in settlement of loans, net 1,242 1,189 Other 19,243 18,233 $ 336,626 $ 329,815 Other liabilities Accrued expenses $ 32,324 $ 36,754 Federal and state income taxes payable 10,642 4,728 Cashier’s checks 23,777 24,156 Advance payments by borrowers 6,134 10,335 Other 25,346 25,662 $ 98,223 $ 101,635
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 value Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair value Amount Number of issues Fair value Amount March 31, 2017 Available-for-sale U.S. Treasury and federal agency obligations $ 189,420 $ 928 $ (1,991 ) $ 188,357 14 $ 97,572 $ (1,855 ) 1 $ 3,492 $ (136 ) Mortgage-related securities- FNMA, FHLMC and GNMA 1,036,872 1,719 (13,453 ) 1,025,138 96 792,672 (11,920 ) 13 45,025 (1,533 ) Mortgage revenue bond 15,427 — — 15,427 — — — — — — $ 1,241,719 $ 2,647 $ (15,444 ) $ 1,228,922 110 $ 890,244 $ (13,775 ) 14 $ 48,517 $ (1,669 ) December 31, 2016 Available-for-sale U.S. Treasury and federal agency obligations $ 193,515 $ 920 $ (2,154 ) $ 192,281 18 $ 123,475 $ (2,010 ) 1 $ 3,485 $ (144 ) Mortgage-related securities- FNMA, FHLMC and GNMA 909,408 1,742 (13,676 ) 897,474 88 709,655 (12,143 ) 13 47,485 (1,533 ) Mortgage revenue bond 15,427 — — 15,427 — — — — — — $ 1,118,350 $ 2,662 $ (15,830 ) $ 1,105,182 106 $ 833,130 $ (14,153 ) 14 $ 50,970 $ (1,677 )
Schedule of contractual maturities of available-for-sale securities	The contractual maturities of available-for-sale investment securities were as follows: March 31, 2017 Amortized cost Fair value (in thousands) Due in one year or less $ 9,986 $ 9,993 Due after one year through five years 77,165 77,274 Due after five years through ten years 78,014 77,582 Due after ten years 39,682 38,935 204,847 203,784 Mortgage-related securities-FNMA, FHLMC and GNMA 1,036,872 1,025,138 Total available-for-sale securities $ 1,241,719 $ 1,228,922
Schedule of allowance for loan losses	The allowance for loan losses (balances and changes) and financing receivables were as follows: (in thousands) Residential 1-4 family Commercial real estate Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Unallo-cated Total Three months ended March 31, 2017 Allowance for loan losses: Beginning balance $ 2,873 $ 16,004 $ 5,039 $ 1,738 $ 6,449 $ 12 $ 16,618 $ 6,800 $ — $ 55,533 Charge-offs (6 ) — (14 ) — — — (1,510 ) (2,810 ) — (4,340 ) Recoveries 9 — 91 203 — — 297 297 — 897 Provision (95 ) 500 301 (462 ) 808 (1 ) (503 ) 3,359 — 3,907 Ending balance $ 2,781 $ 16,504 $ 5,417 $ 1,479 $ 7,257 $ 11 $ 14,902 $ 7,646 $ — $ 55,997 March 31, 2017 Ending balance: individually evaluated for impairment $ 1,386 $ 74 $ 228 $ 660 $ — $ — $ 1,318 $ 34 $ 3,700 Ending balance: collectively evaluated for impairment $ 1,395 $ 16,430 $ 5,189 $ 819 $ 7,257 $ 11 $ 13,584 $ 7,612 $ — $ 52,297 Financing Receivables: Ending balance $ 2,058,202 $ 790,191 $ 866,880 $ 16,888 $ 130,808 $ 13,694 $ 661,016 $ 192,113 $ 4,729,792 Ending balance: individually evaluated for impairment $ 19,340 $ 1,515 $ 6,803 $ 2,863 $ — $ — $ 9,175 $ 69 $ 39,765 Ending balance: collectively evaluated for impairment $ 2,038,862 $ 788,676 $ 860,077 $ 14,025 $ 130,808 $ 13,694 $ 651,841 $ 192,044 $ 4,690,027 Three months ended March 31, 2016 Allowance for loan losses: Beginning balance $ 4,186 $ 11,342 $ 7,260 $ 1,671 $ 4,461 $ 13 $ 17,208 $ 3,897 $ — $ 50,038 Charge-offs (45 ) — — — — — (1,343 ) (1,570 ) — (2,958 ) Recoveries 17 — 15 103 — — 135 210 — 480 Provision 435 464 (103 ) (34 ) 1,703 (1 ) 991 1,311 — 4,766 Ending balance $ 4,593 $ 11,806 $ 7,172 $ 1,740 $ 6,164 $ 12 $ 16,991 $ 3,848 $ — $ 52,326 December 31, 2016 Ending balance: individually evaluated for impairment $ 1,352 $ 80 $ 215 $ 789 $ — $ — $ 1,641 $ 6 $ 4,083 Ending balance: collectively evaluated for impairment $ 1,521 $ 15,924 $ 4,824 $ 949 $ 6,449 $ 12 $ 14,977 $ 6,794 $ — $ 51,450 Financing Receivables: Ending balance $ 2,048,051 $ 800,395 $ 863,163 $ 18,889 $ 126,768 $ 16,080 $ 692,051 $ 178,222 $ 4,743,619 Ending balance: individually evaluated for impairment $ 19,854 $ 1,569 $ 6,158 $ 3,629 $ — $ — $ 20,539 $ 10 $ 51,759 Ending balance: collectively evaluated for impairment $ 2,028,197 $ 798,826 $ 857,005 $ 15,260 $ 126,768 $ 16,080 $ 671,512 $ 178,212 $ 4,691,860
Schedule of credit risk profile by internally assigned grade for loans	The credit risk profile by internally assigned grade for loans was as follows: March 31, 2017 December 31, 2016 (in thousands) Commercial real estate Commercial construction Commercial Commercial real estate Commercial construction Commercial Grade: Pass $ 669,117 $ 84,495 $ 605,256 $ 701,657 $ 102,955 $ 614,139 Special mention 89,370 22,500 22,568 65,541 — 25,229 Substandard 31,704 23,813 33,192 33,197 23,813 52,683 Doubtful — — — — — — Loss — — — — — — Total $ 790,191 $ 130,808 $ 661,016 $ 800,395 $ 126,768 $ 692,051
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 days past due 60-89 days past due Greater than 90 days Total past due Current Total financing receivables Recorded investment> 90 days and accruing March 31, 2017 Real estate: Residential 1-4 family $ 3,557 $ 2,982 $ 3,419 $ 9,958 $ 2,048,244 $ 2,058,202 $ — Commercial real estate — — — — 790,191 790,191 — Home equity line of credit 594 571 1,532 2,697 864,183 866,880 — Residential land — 318 79 397 16,491 16,888 — Commercial construction — — — — 130,808 130,808 — Residential construction — — — — 13,694 13,694 — Commercial 1,255 928 847 3,030 657,986 661,016 — Consumer 1,809 917 908 3,634 188,479 192,113 — Total loans $ 7,215 $ 5,716 $ 6,785 $ 19,716 $ 4,710,076 $ 4,729,792 $ — December 31, 2016 Real estate: Residential 1-4 family $ 5,467 $ 2,338 $ 3,505 $ 11,310 $ 2,036,741 $ 2,048,051 $ — Commercial real estate 2,416 — — 2,416 797,979 800,395 — Home equity line of credit 1,263 381 1,342 2,986 860,177 863,163 — Residential land — — 255 255 18,634 18,889 — Commercial construction — — — — 126,768 126,768 — Residential construction — — — — 16,080 16,080 — Commercial 413 510 1,303 2,226 689,825 692,051 — Consumer 1,945 1,001 963 3,909 174,313 178,222 — Total loans $ 11,504 $ 4,230 $ 7,368 $ 23,102 $ 4,720,517 $ 4,743,619 $ —
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, accruing loans 90 days or more past due and TDR loans was as follows: (in thousands) March 31, 2017 December 31, 2016 Real estate: Residential 1-4 family $ 11,709 $ 11,154 Commercial real estate 218 223 Home equity line of credit 3,340 3,080 Residential land 695 878 Commercial construction — — Residential construction — — Commercial 2,016 6,708 Consumer 1,410 1,282 Total nonaccrual loans $ 19,388 $ 23,325 Real estate: Residential 1-4 family $ — $ — Commercial real estate — — Home equity line of credit — — Residential land — — Commercial construction — — Residential construction — — Commercial — — Consumer — — Total accruing loans 90 days or more past due $ — $ — Real estate: Residential 1-4 family $ 13,661 $ 14,450 Commercial real estate 1,297 1,346 Home equity line of credit 4,894 4,934 Residential land 2,246 2,751 Commercial construction — — Residential construction — — Commercial 7,234 14,146 Consumer 69 10 Total troubled debt restructured loans not included above $ 29,401 $ 37,637
Schedule of the carrying amount and the total unpaid principal balance of impaired loans, with and without recorded allowance for loans losses	The total carrying amount and the total unpaid principal balance of impaired loans were as follows: March 31, 2017 Three months ended March 31, 2017 (in thousands) Recorded investment Unpaid principal balance Related Allowance Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 9,145 $ 9,980 $ — $ 9,555 $ 84 Commercial real estate 218 227 — 220 — Home equity line of credit 2,376 2,829 — 2,004 14 Residential land 954 1,401 — 957 26 Commercial construction — — — — — Residential construction — — — — — Commercial 2,315 5,391 — 4,907 6 Consumer — — — — — $ 15,008 $ 19,828 $ — $ 17,643 $ 130 With an allowance recorded Real estate: Residential 1-4 family $ 10,195 $ 10,398 $ 1,386 $ 10,048 $ 119 Commercial real estate 1,297 1,297 74 1,300 14 Home equity line of credit 4,427 4,443 228 4,562 49 Residential land 1,909 1,909 660 2,076 37 Commercial construction — — — — — Residential construction — — — — — Commercial 6,860 6,860 1,318 7,268 401 Consumer 69 69 34 30 — $ 24,757 $ 24,976 $ 3,700 $ 25,284 $ 620 Total Real estate: Residential 1-4 family $ 19,340 $ 20,378 $ 1,386 $ 19,603 $ 203 Commercial real estate 1,515 1,524 74 1,520 14 Home equity line of credit 6,803 7,272 228 6,566 63 Residential land 2,863 3,310 660 3,033 63 Commercial construction — — — — — Residential construction — — — — — Commercial 9,175 12,251 1,318 12,175 407 Consumer 69 69 34 30 — $ 39,765 $ 44,804 $ 3,700 $ 42,927 $ 750 December 31, 2016 Three months ended March 31, 2016 (in thousands) Recorded investment Unpaid principal balance Related allowance Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 9,571 $ 10,400 $ — $ 10,392 $ 51 Commercial real estate 223 228 — 1,173 — Home equity line of credit 1,500 1,900 — 849 — Residential land 1,218 1,803 — 1,590 16 Commercial construction — — — — — Residential construction — — — — — Commercial 6,299 8,869 — 4,999 6 Consumer — — — — — $ 18,811 $ 23,200 $ — $ 19,003 $ 73 With an allowance recorded Real estate: Residential 1-4 family $ 10,283 $ 10,486 $ 1,352 $ 12,018 $ 122 Commercial real estate 1,346 1,346 80 854 — Home equity line of credit 4,658 4,712 215 2,944 27 Residential land 2,411 2,411 789 3,378 67 Commercial construction — — — — — Residential construction — — — — — Commercial 14,240 14,240 1,641 16,970 30 Consumer 10 10 6 13 — $ 32,948 $ 33,205 $ 4,083 $ 36,177 $ 246 Total Real estate: Residential 1-4 family $ 19,854 $ 20,886 $ 1,352 $ 22,410 $ 173 Commercial real estate 1,569 1,574 80 2,027 — Home equity line of credit 6,158 6,612 215 3,793 27 Residential land 3,629 4,214 789 4,968 83 Commercial construction — — — — — Residential construction — — — — — Commercial 20,539 23,109 1,641 21,969 36 Consumer 10 10 6 13 — $ 51,759 $ 56,405 $ 4,083 $ 55,180 $ 319 * Since loan was classified as impaired.
Schedule of loan modifications	Loan modifications that occurred during the first quarters of 2017 and 2016 and the impact on the allowance for loan losses were as follows: Three months ended March 31, 2017 Number of contracts Outstanding recorded investment 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 3 $ 512 $ 520 $ 45 Commercial real estate — — — — Home equity line of credit 8 226 212 34 Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial 1 342 342 — Consumer 1 59 59 27 13 $ 1,139 $ 1,133 $ 106 Three months ended March 31, 2016 Number of contracts Outstanding recorded 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 4 $ 1,097 $ 1,215 $ 161 Commercial real estate — — — — Home equity line of credit 10 669 669 74 Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial 3 16,200 16,200 525 Consumer — — — — 17 $ 17,966 $ 18,084 $ 760 1 The reported balances include loans that became TDR during the period, and were fully paid-off, charged-off, or sold prior to period end.
Schedule of troubled debt restructuring on financing receivables that experienced default	Loans modified in TDRs that experienced a payment default of 90 days or more during the first quarters of 2017 and 2016, and for which the payment of default occurred within one year of the modification, were as follows: Three months ended March 31, 2017 Three months ended March 31, 2016 (dollars in thousands) Number of contracts Recorded investment Number of contracts Recorded investment Troubled debt restructurings that subsequently defaulted Real estate: Residential 1-4 family 1 $ 301 1 $ 488 Commercial real estate — — — — Home equity line of credit — — — — Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial — — — — Consumer — — — — 1 $ 301 1 $ 488
Schedule of amortized intangible assets	Changes in the carrying value of mortgage servicing rights were as follows: (in thousands) Gross 1 Accumulated amortization 1 Valuation allowance Net March 31, 2017 $ 17,707 $ (8,413 ) $ — $ 9,294 December 31, 2016 17,271 (7,898 ) — 9,373 1 Reflects the impact of loans paid in full. Changes related to mortgage servicing rights were as follows: (in thousands) 2017 2016 Mortgage servicing rights Balance, January 1 $ 9,373 $ 8,884 Amount capitalized 436 455 Amortization (515 ) (482 ) Other-than-temporary impairment — — Carrying amount before valuation allowance, March 31 9,294 8,857 Valuation allowance for mortgage servicing rights Balance, January 1 — — Provision (recovery) — — Other-than-temporary impairment — — Balance, March 31 — — Net carrying value of mortgage servicing rights $ 9,294 $ 8,857
Schedule of key assumptions used in estimating fair value	Key assumptions used in estimating the fair value of ASB’s mortgage servicing rights used in the impairment analysis were as follows: (dollars in thousands) March 31, 2017 December 31, 2016 Unpaid principal balance $ 1,205,197 $ 1,188,380 Weighted average note rate 3.95 % 3.96 % Weighted average discount rate 9.5 % 9.4 % Weighted average prepayment speed 8.2 % 8.5 % The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value (1) ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted Average March 31, 2017 Residential loan $ 222 Fair value of property or collateral Appraised value less 7% selling cost N/A (2) Commercial loan 810 Sales price Sales price N/A (2) Commercial loan 249 Fair value of property or collateral Fair value of business assets N/A (2) Total loans $ 1,281 December 31, 2016 Residential loans $ 2,468 Sales price Sales price 95-100% 97% Residential loans 287 Fair value of property or collateral Appraised value less 7% selling cost 42-65% 61% Home equity lines of credit 12 Fair value of property or collateral Appraised value less 7% selling cost N/A (2) Total loans $ 2,767 Real estate acquired in settlement of loans $ 1,189 Fair value of property or collateral Appraised value less 7% selling cost 100% 100% (1) Represent percent of outstanding principal balance. (2) N/A - Not applicable. There is one loan in each fair value measurement type.
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) March 31, 2017 December 31, 2016 Prepayment rate: 25 basis points adverse rate change $ (556 ) $ (567 ) 50 basis points adverse rate change (1,144 ) (1,154 ) Discount rate: 25 basis points adverse rate change (134 ) (128 ) 50 basis points adverse rate change (266 ) (254 )
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 of recognized liabilities Gross amount offset in the Balance Sheet Net amount of liabilities presented in the Balance Sheet Repurchase agreements March 31, 2017 $100 $— $100 December 31, 2016 93 — 93 Gross amount not offset in the Balance Sheet (in millions) Net amount of liabilities presented in the Balance Sheet Financial instruments Cash collateral pledged March 31, 2017 Financial institution $ — $ — $ — Government entities — — — Commercial account holders 100 119 — Total $ 100 $ 119 $ — December 31, 2016 Financial institution $ — $ — $ — Government entities 14 15 — Commercial account holders 79 101 — Total $ 93 $ 116 $ —
Schedule of notional and fair value of derivatives	The notional amount and fair value of ASB’s derivative financial instruments were as follows: March 31, 2017 December 31, 2016 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 21,771 $ 317 $ 25,883 $ 421 Forward commitments 22,120 (104 ) 30,813 (177 )
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 March 31, 2017 December 31, 2016 (in thousands) Asset derivatives Liability derivatives Asset derivatives Liability Interest rate lock commitments $ 317 $ — $ 445 $ 24 Forward commitments — 104 8 185 $ 317 $ 104 $ 453 $ 209 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 the statements of income: Derivative Financial Instruments Not Designated as Hedging Instruments Location of net gains (losses) recognized in the Statement of Income Three months ended March 31 (in thousands) 2017 2016 Interest rate lock commitments Mortgage banking income $ (104 ) $ 271 Forward commitments Mortgage banking income 73 (163 ) $ (31 ) $ 108

Retirement benefits (Tables)

Retirement benefits (Tables)	3 Months Ended
	Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Schedule of components of net periodic benefit cost for consolidated HEI	The components of net periodic benefit cost for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended March 31 Pension benefits Other benefits (in thousands) 2017 2016 2017 2016 HEI consolidated Service cost $ 16,494 $ 15,391 $ 840 $ 836 Interest cost 20,216 20,277 2,411 2,474 Expected return on plan assets (25,721 ) (24,664 ) (3,066 ) (3,052 ) Amortization of net prior service loss (gain) (14 ) (14 ) (449 ) (448 ) Amortization of net actuarial loss 6,513 5,969 366 287 Net periodic benefit cost 17,488 16,959 102 97 Impact of PUC D&Os (5,156 ) (4,046 ) 146 189 Net periodic benefit cost (adjusted for impact of PUC D&Os) $ 12,332 $ 12,913 $ 248 $ 286 Hawaiian Electric consolidated Service cost $ 16,094 $ 14,933 $ 835 $ 822 Interest cost 18,589 18,603 2,327 2,389 Expected return on plan assets (24,011 ) (22,932 ) (3,017 ) (3,003 ) Amortization of net prior service loss (gain) 2 4 (451 ) (451 ) Amortization of net actuarial loss 6,006 5,461 359 284 Net periodic benefit cost 16,680 16,069 53 41 Impact of PUC D&Os (5,156 ) (4,046 ) 146 189 Net periodic benefit cost (adjusted for impact of PUC D&Os) $ 11,524 $ 12,023 $ 199 $ 230

Share-based compensation (Table

Share-based compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [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 March 31 (in millions) 2017 2016 HEI consolidated Share-based compensation expense 1 $ 1.1 $ 1.0 Income tax benefit 0.3 0.3 Hawaiian Electric consolidated Share-based compensation expense 1 0.5 0.3 Income tax benefit 0.2 0.1 1 For the three months ended March 31, 2017 and 2016, the Company has not capitalized any share-based compensation.
Schedule of common stock granted to a nonemployee director under the 2011 Director Plan	HEI granted HEI common stock to a nonemployee director of HEI and Hawaiian Electric under the 2011 Director Plan as follows: ($ in thousands) Three months ended March 31, 2017 Shares granted 770 Fair value $ 25 Income tax benefit 10
Schedule of restricted stock units	Information about HEI’s grants of restricted stock units was as follows: Three months ended March 31 2017 2016 Shares (1) Shares (1) Outstanding, beginning of period 220,683 $ 29.57 210,634 $ 28.82 Granted 96,977 33.48 94,282 29.90 Vested (81,624 ) 28.85 (78,379 ) 27.92 Forfeited — — — — Outstanding, end of period 236,036 $ 31.42 226,537 $ 29.59 Total weighted-average grant-date fair value of shares granted ($ millions) $ 3.2 $ 2.8 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.
Schedule of Long-Term Incentive Plan (LTIP) linked to total return to shareholders	Information about HEI’s LTIP grants linked to TRS was as follows: Three months ended March 31 2017 2016 Shares (1) Shares (1) Outstanding, beginning of period 83,106 $ 22.95 162,500 $ 27.66 Granted (target level) 36,971 39.51 — — Vested (issued or unissued and cancelled) (83,106 ) 22.95 (78,553 ) 32.69 Forfeited — — — — Outstanding, end of period 36,971 $ 39.51 83,947 $ 22.95 Total weighted-average grant-date fair value of shares granted ($ millions) $ 1.5 $ — (1) Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of Long-Term Incentive Program fair value awards granted	The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TRS and the resulting fair value of LTIP awards granted: 2017 Risk-free interest rate 1.46 % Expected life in years 3 Expected volatility 20.1 % Range of expected volatility for Peer Group 15.4% to 26.0% Grant date fair value (per share) $ 39.51
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 March 31 2017 2016 Shares (1) Shares (1) Outstanding, beginning of period 109,816 $ 25.18 222,647 $ 26.02 Granted (target level) 147,888 33.48 — — Vested (issued) (109,816 ) 25.18 (109,097 ) 26.89 Forfeited — — — — Outstanding, end of period 147,888 $ 33.48 113,550 $ 25.18 Total weighted-average grant-date fair value of shares granted (at target performance levels) ($ millions) $ 5.0 $ — (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.

Shareholders' equity (Tables)

Shareholders' equity (Tables)	3 Months Ended
	Mar. 31, 2017
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 Unrealized gains (losses) on derivatives Retirement benefit plans AOCI Balance, December 31, 2016 $ (7,931 ) $ (454 ) $ (24,744 ) $ (33,129 ) $ (454 ) $ 132 $ (322 ) Current period other comprehensive income 223 454 308 985 454 5 459 Balance, March 31, 2017 $ (7,708 ) $ — $ (24,436 ) $ (32,144 ) $ — $ 137 $ 137 Balance, December 31, 2015 $ (1,872 ) $ (54 ) $ (24,336 ) $ (26,262 ) $ — $ 925 $ 925 Current period other comprehensive income 7,428 1,056 316 8,800 1,002 14 1,016 Balance, March 31, 2016 $ 5,556 $ 1,002 $ (24,020 ) $ (17,462 ) $ 1,002 $ 939 $ 1,941
Schedule of reclassifications out of accumulated other comprehensive income/(loss)	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Three months ended March 31 Affected line item in the (in thousands) 2017 2016 Statement of Income HEI consolidated Derivatives qualifying as cash flow hedges Window forward contracts $ 454 $ — Revenue-electric utilities (losses on window forward contracts - see Note 4 for additional details) Interest rate contracts (settled in 2011) $ — $ 54 Interest expense Retirement benefit plan items Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 3,921 3,537 See Note 6 for additional details Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets (3,613 ) (3,222 ) See Note 6 for additional details Total reclassifications $ 762 $ 369 Hawaiian Electric consolidated Derivatives qualifying as cash flow hedges Window forward contracts $ 454 $ — Revenue (losses on window forward contracts - see Note 4 for additional details) Retirement benefit plan items Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 3,618 3,236 See Note 6 for additional details Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets (3,613 ) (3,222 ) See Note 6 for additional details Total reclassifications $ 459 $ 14

Fair value measurements (Tables

Fair value measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of estimated fair values of certain 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. For stock in Federal Home Loan Bank, the carrying amount is a reasonable estimate of fair value because it can only be redeemed at par. For bank-owned life insurance, the carrying amount is the cash surrender value of the insurance policies, which is a reasonable estimate of fair value. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings and money market deposits, the carrying amount is a reasonable estimate of fair value as these liabilities have no stated maturity. Estimated fair value Carrying or notional amount Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) (Level 1) (Level 2) (Level 3) Total March 31, 2017 Financial assets HEI consolidated Money market funds $ 6 $ — $ 6 $ — $ 6 Available-for-sale investment securities 1,228,922 — 1,213,495 15,427 1,228,922 Stock in Federal Home Loan Bank 11,706 — 11,706 — 11,706 Loans receivable, net 4,679,728 — 10,881 4,816,099 4,826,980 Mortgage servicing rights 9,294 — — 13,650 13,650 Bank-owned life insurance 144,661 — 144,661 — 144,661 Derivative assets 22,986 — 317 — 317 Financial liabilities HEI consolidated Deposit liabilities 5,675,090 — 5,671,729 — 5,671,729 Short-term borrowings—other than bank 2,300 — 2,300 — 2,300 Other bank borrowings 200,154 — 201,000 — 201,000 Long-term debt, net—other than bank 1,618,651 — 1,707,954 — 1,707,954 Derivative liabilities 36,743 98 283 — 381 Hawaiian Electric consolidated Short-term borrowings 1,500 — 1,500 — 1,500 Long-term debt, net 1,318,871 — 1,402,690 — 1,402,690 Derivative liabilities 15,838 — 277 — 277 December 31, 2016 Financial assets HEI consolidated Money market funds $ 13,085 $ — $ 13,085 $ — $ 13,085 Available-for-sale investment securities 1,105,182 — 1,089,755 15,427 1,105,182 Stock in Federal Home Loan Bank 11,218 — 11,218 — 11,218 Loans receivable, net 4,701,977 — 13,333 4,839,493 4,852,826 Mortgage servicing rights 9,373 — — 13,216 13,216 Bank-owned life insurance 143,197 — 143,197 — 143,197 Derivative assets 23,578 — 453 — 453 Financial liabilities HEI consolidated Deposit liabilities 5,548,929 — 5,546,644 — 5,546,644 Short-term borrowings—other than bank — — — — — Other bank borrowings 192,618 — 193,991 — 193,991 Long-term debt, net—other than bank 1,619,019 — 1,704,717 — 1,704,717 Derivative liabilities 53,852 129 823 — 952 Hawaiian Electric consolidated Long-term debt, net 1,319,260 — 1,399,490 — 1,399,490 Derivative liabilities 20,734 — 743 — 743
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: March 31, 2017 December 31, 2016 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Money market funds (“other” segment) $ — $ 6 $ — $ — $ 13,085 $ — Available-for-sale investment securities (bank segment) Mortgage-related securities-FNMA, FHLMC and GNMA $ — $ 1,025,138 $ — $ — $ 897,474 $ — U.S. Treasury and federal agency obligations — 188,357 — — 192,281 — Mortgage revenue bond — — 15,427 — — 15,427 $ — $ 1,213,495 $ 15,427 $ — $ 1,089,755 $ 15,427 Derivative assets (bank segment) 1 Interest rate lock commitments $ — $ 317 $ — $ — $ 445 $ — Forward commitments — — — — 8 — $ — $ 317 $ — $ — $ 453 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ 24 $ — Forward commitments (bank segment) 1 98 6 — 129 56 — Window forward contracts (electric utility segment) 2 — 277 — — 743 — $ 98 $ 283 $ — $ 129 $ 823 $ — 1 Derivatives are carried at fair value with changes in value reflected in the balance sheet in other assets or other liabilities and included in mortgage banking income. 2 Liability derivatives are included in other current 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: Mortgage revenue bond 2017 2016 (in thousands) Balance, January 1 $ 15,427 $ — Principal payments received — — Purchases — — Unrealized gain (loss) included in other comprehensive income — — Balance, March 31 $ 15,427 $ —
Schedule of assets measured at fair value on a nonrecurring basis	The carrying value of assets measured at fair value on a nonrecurring basis were as follows: Fair value measurements (in thousands) Balance Level 1 Level 2 Level 3 March 31, 2017 Loans $ 1,281 $ — $ — $ 1,281 December 31, 2016 Loans 2,767 — — 2,767 Real estate acquired in settlement of loans 1,189 — — 1,189
Schedule of significant unobservable inputs used in the fair value measurement	Key assumptions used in estimating the fair value of ASB’s mortgage servicing rights used in the impairment analysis were as follows: (dollars in thousands) March 31, 2017 December 31, 2016 Unpaid principal balance $ 1,205,197 $ 1,188,380 Weighted average note rate 3.95 % 3.96 % Weighted average discount rate 9.5 % 9.4 % Weighted average prepayment speed 8.2 % 8.5 % The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value (1) ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted Average March 31, 2017 Residential loan $ 222 Fair value of property or collateral Appraised value less 7% selling cost N/A (2) Commercial loan 810 Sales price Sales price N/A (2) Commercial loan 249 Fair value of property or collateral Fair value of business assets N/A (2) Total loans $ 1,281 December 31, 2016 Residential loans $ 2,468 Sales price Sales price 95-100% 97% Residential loans 287 Fair value of property or collateral Appraised value less 7% selling cost 42-65% 61% Home equity lines of credit 12 Fair value of property or collateral Appraised value less 7% selling cost N/A (2) Total loans $ 2,767 Real estate acquired in settlement of loans $ 1,189 Fair value of property or collateral Appraised value less 7% selling cost 100% 100% (1) Represent percent of outstanding principal balance. (2) N/A - Not applicable. There is one loan in each fair value measurement type.

Cash flows (Tables)

Cash flows (Tables)	3 Months Ended
	Mar. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental disclosures of cash and noncash activity	Three months ended March 31 2017 2016 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates $ 19 $ 20 Income taxes paid (including refundable credits) 4 1 Income taxes refunded (including refundable credits) — 45 Hawaiian Electric consolidated Interest paid to non-affiliates 13 12 Income taxes paid (including refundable credits) 2 — Income taxes refunded (including refundable credits) — 20 Supplemental disclosures of noncash activities HEI consolidated Common stock dividends reinvested in HEI common stock (financing) 1 — 6 Loans transferred from held for investment to held for sale (investing) 9 — Common stock issued (gross) for director and executive/management compensation (financing) 2 9 6 Obligations to fund low income housing investments (operating) 1 — HEI consolidated and Hawaiian Electric consolidated Electric utility property, plant and equipment AFUDC-equity (operating) 2 2 Estimated fair value of noncash contributions in aid of construction (investing) — 1 Change in unpaid invoices and accruals (investing) (52 ) (48 ) 1 The amounts shown represent common stock dividends reinvested in HEI common stock under the HEI Dividend Reinvestment and Stock Purchase Plan (DRIP) in noncash transactions. 2 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Related party transactions (Tab

Related party transactions (Tables)	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The Company’s HMSA costs and expense (for health insurance premiums, claims plus administration expense and stop-loss insurance coverages) and HDS costs and expense (for dental insurance premiums) and the Utilities’ HMSA costs and expense (for health insurance premiums) and HDS costs and expense (for dental insurance premiums) were as follows: Three months ended March 31 (in millions) 2017 2016 HEI consolidated HMSA costs $ 7 $ 7 HMSA expense* 5 5 HDS costs 1 1 HDS expense* 1 1 Hawaiian Electric consolidated HMSA costs 6 6 HMSA expense* 4 3 HDS costs 1 1 HDS expense* — — * Charged the remaining costs primarily to electric utility plant.

Termination of proposed merge39

Termination of proposed merger and other matters (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended			6 Months Ended	12 Months Ended
	Jul. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2016	Dec. 31, 2016
Hawaiian Electric Company, Inc. and Subsidiaries
Business Acquisition [Line Items]
Merger termination, expenses recognized			$ 1	$ 1
NextEra Energy, Inc Merger
Business Acquisition [Line Items]
Merger contract termination fee	$ 90
Maximum expenses paid to party for cancellation of merger	$ 5
Net income recognized on merger termination		$ 64				$ 60
Gain (loss) recognized due to merger and spin-off related expenses, net of tax			$ (2)	$ (2)
Net income recognized, merger termination fee		55
Net income recognized, merger termination, reimbursements and insurance		$ 3
Recognition of previously disallowed merger expenses					$ 8
Net income recognized, merger and spin-off related expenses						$ 6

Segment financial information40

Segment financial information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment financial information
Total revenues	$ 591,562	$ 550,960
Income (loss) before income taxes	51,582	51,126
Income taxes (benefit)	16,916	18,301
Net income	34,666	32,825
Preferred stock dividends of subsidiaries	473	473
Net income for common stock	34,193	32,352
Total assets	12,543,275		$ 12,425,506
Electric utility
Segment financial information
Total revenues	518,611	482,052
Income (loss) before income taxes	34,722	40,419
Income taxes (benefit)	12,758	14,553
Net income	21,964	25,866
Preferred stock dividends of subsidiaries	499	499
Net income for common stock	21,465	25,367
Total assets	5,969,042		5,975,428
Bank
Segment financial information
Total revenues	72,856	68,840
Income (loss) before income taxes	24,160	19,594
Income taxes (benefit)	8,347	6,921
Net income	15,813	12,673
Preferred stock dividends of subsidiaries	0	0
Net income for common stock	15,813	12,673
Total assets	6,559,646		6,421,357
Other
Segment financial information
Total revenues	95	68
Income (loss) before income taxes	(7,300)	(8,887)
Income taxes (benefit)	(4,189)	(3,173)
Net income	(3,111)	(5,714)
Preferred stock dividends of subsidiaries	(26)	(26)
Net income for common stock	(3,085)	(5,688)
Total assets	14,587		$ 28,721
Revenues from external customers
Segment financial information
Total revenues	591,562	550,960
Revenues from external customers | Electric utility
Segment financial information
Total revenues	518,566	482,045
Revenues from external customers | Bank
Segment financial information
Total revenues	72,856	68,840
Revenues from external customers | Other
Segment financial information
Total revenues	140	75
Intersegment revenues (eliminations)
Segment financial information
Total revenues	0	0
Intersegment revenues (eliminations) | Electric utility
Segment financial information
Total revenues	45	7
Intersegment revenues (eliminations) | Bank
Segment financial information
Total revenues	0	0
Intersegment revenues (eliminations) | Other
Segment financial information
Total revenues	$ (45)	$ (7)

Electric utility segment - Taxe

Electric utility segment - Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue taxes
Expected increase in income tax depreciation expense	$ 121
Hawaiian Electric Company, Inc. and Subsidiaries
Revenue taxes
Revenue taxes included in operating revenues and in taxes other than income taxes expense	$ 46	$ 43

Electric utility segment - Unco

Electric utility segment - Unconsolidated variable interest entities (Details)	1 Months Ended					3 Months Ended
	Aug. 31, 2012MW	Oct. 31, 2004MW	Mar. 31, 2004USD ($)security	Oct. 31, 1988MW	Mar. 31, 1988MW	Mar. 31, 2017USD ($)agreemententity	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
Power purchase agreement
Purchases from IPPs						$ 127,000,000	$ 116,000,000
Termination period (in days)						60 days
Minimum power volume required (in megawatts) | MW	186				180
Accounts payable						$ 160,819,000		$ 143,279,000
Hawaiian Electric Company
Power purchase agreement
Number of power purchase agreements (PPAs) (in agreements) | agreement						5
Number of entities currently not required to be consolidated as VIEs (in entities) | entity						0
Purchases from IPPs						$ 100,147,000	91,917,000
Number of firm capacity producers declining to provide financial information to determine primary beneficiary status (in entities) | entity						2
Minimum potential number of IPP entities consolidated into company in the future (in entities) | entity						1
Hawaiian Electric Company | Kalaeloa Partners, L.P. (Kalaeloa)
Power purchase agreement
Purchases from IPPs						$ 40,000,000	29,000,000
Power purchase capacity that Increases from initial capacity (in megawatts) | MW				180
Number of years entity entered under power purchase agreement (in years)				25 years
Power purchase capacity that Increases from initial capacity (in megawatts) | MW		208
Accounts payable						11,000,000
Hawaiian Electric Company | AES Hawaii, Inc. (AES Hawaii)
Power purchase agreement
Purchases from IPPs						29,000,000	38,000,000
Number of years entity entered under power purchase agreement (in years)					30 years
Accounts payable						13,000,000
Hawaiian Electric Company | HPOWER
Power purchase agreement
Purchases from IPPs						17,000,000	16,000,000
Hawaiian Electric Company | Puna Geothermal Venture
Power purchase agreement
Purchases from IPPs						8,000,000	7,000,000
Hawaiian Electric Company | Hamakua Energy Partners, L.P. (HEP)
Power purchase agreement
Purchases from IPPs						7,000,000	11,000,000
Hawaiian Electric Company | Other IPPs
Power purchase agreement
Purchases from IPPs						26,000,000	15,000,000
Hawaii Electric Light Company, Inc. (HELCO)
Power purchase agreement
Purchases from IPPs						18,589,000	16,797,000
Maui Electric
Power purchase agreement
Purchases from IPPs						8,388,000	$ 7,145,000
HECO Capital Trust III
Unconsolidated variable interest entities
Investment in 2004 Debentures						51,500,000		51,500,000
Interest income						$ 800,000
HECO Capital Trust III | Hawaiian Electric Company
Unconsolidated variable interest entities
Principal amount of 2004 Debentures			$ 31,500,000
Percent of ownership in Trust III (as a percent)						100.00%
HECO Capital Trust III | Hawaiian Electric Company | 2004 Trust Preferred Securities
Unconsolidated variable interest entities
Number of 2004 Trust Preferred Securities issued (in securities) | security			2,000,000
Dividend rate on 2004 Trust Preferred Securities (as a percent)			6.50%
Aggregate Liquidation preference			$ 50,000,000
Balance of Trust Securities						$ 50,000,000		50,000,000
Dividend distributions on Trust Preferred Securities						800,000
HECO Capital Trust III | Hawaiian Electric Company | Trust Common Securities
Unconsolidated variable interest entities
Aggregate Liquidation preference			1,500,000
Balance of Trust Securities						1,500,000		$ 1,500,000
Common dividend						$ 25,000
HECO Capital Trust III | Hawaii Electric Light Company, Inc. (HELCO)
Unconsolidated variable interest entities
Principal amount of 2004 Debentures			10,000,000
HECO Capital Trust III | Maui Electric
Unconsolidated variable interest entities
Principal amount of 2004 Debentures			$ 10,000,000

Electric utility segment - Comm

Electric utility segment - Commitments and contingencies (Details)

Apr. 27, 2017USD ($)

Dec. 23, 2016island

Aug. 11, 2016USD ($)

Feb. 18, 2016contract

Jan. 05, 2016USD ($)

Dec. 22, 2015USD ($)

Aug. 01, 2015air_quality_monitoring_station

Oct. 14, 2014facility

May 31, 2013

Feb. 16, 2012generation_unit

Oct. 31, 2016customer

Sep. 30, 2015USD ($)

Jun. 30, 2015MW

Aug. 31, 2014

Apr. 30, 2014order

Aug. 31, 2012MW

May 31, 2012MW

Mar. 31, 1988MW

Mar. 31, 2017USD ($)agreementcontractMW

Mar. 31, 2016USD ($)

Sep. 30, 2015USD ($)

Dec. 31, 2045

Dec. 31, 2016USD ($)

Jul. 31, 2014USD ($)

Jun. 20, 2014

Mar. 01, 2014

Feb. 07, 2014

Regulatory projects and legal obligations

Purchase commitment, period (in years)

30 years

Minimum power volume required (in megawatts) | MW

186

180

Additional capacity requirement (in megawatts) | MW

9

ERP/EAM Project, expected costs

$ 82,400,000

SAP software costs

$ 4,800,000

ERP/EAM cost recovery cap

$ 77,600,000

Public utility, ERP/EAM required pass through savings to customers

$ 244,000,000

ERP/EAM project service period (in years)

12 years

Schofield generating station facility capacity (in megawatts) | MW

50

Schofield generating station project, budgetary cap

$ 157,300,000

$ 167,000,000

Percent of costs recoverable through recovery mechanisms other than base rates (as a percent)

90.00%

Decrease in project costs

$ 9,700,000

Project lease term (in years)

35 years

Number of power plants affected by CWA section 316(b) (in facilities) | facility

3

Environmental regulation

Number of EGUs impacted by proposed rules of MATS (in generation units) | generation_unit

14

Number of additional air quality monitor stations (in air quality monitoring stations) | air_quality_monitoring_station

2

Changes in the asset retirement obligation liability

Accounts receivable and unbilled revenues, net

$ 252,416,000

$ 237,950,000

Number of orders from regulatory agency (in orders) | order

4

Percent of energy production from renewable energy sources (as a percent)

65.00%

PSIPs, Number of years covered (in years)

5 years

PSIPs, Number of geographic regions covered (in islands) | island

5

Public utilities, duration of Time of Use Program (in years)

2 years

Public utilities, number of customers impacted by Time Of Use Program (in customers) | customer

5,000

Designated as Hedging Instrument | Window forward contract | Cash Flow Hedging

Changes in the asset retirement obligation liability

Notional amount

15,838,000

20,734,000

Fair Value

(277,000)

$ (743,000)

Scenario, Forecast

Changes in the asset retirement obligation liability

Expected portfolio standard (as a percent)

100.00%

Subsequent Event

Changes in the asset retirement obligation liability

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

10 years

Maximum penalty as a percent of equity (as a percent)

20.00%

Service reliability, maximum penalty

$ 3,000,000

Call center performance, maximum penalty

$ 1,200,000

Average annual performance, measurement period (in days)

730 days

Dead band percentage above or below the target (as a percent)

3.00%

Maximum incentive, percent of return on equity (as a percent)

8.00%

Period to file proposed tariffs (in days)

30 days

Decoupling order, comment period for proposed tariffs (in days)

60 days

Threshold of capital expenditures in excess of customer contributions for qualification for major project interim recovery

$ 2,500,000

PCB Contamination

Environmental regulation

Valuation allowances and reserves

$ 5,000,000

Hawaii Electric Light Company, Inc. (HELCO) | Hamakua Energy Partners, L.P. (HEP)

Regulatory projects and legal obligations

Potential purchase price

$ 84,500,000

Hawaii Electric Light Company, Inc. (HELCO) | Maximum

Regulatory projects and legal obligations

Power purchase capacity that Increases from initial capacity (in megawatts) | MW

60

Hamakua Energy Partners, L.P. (HEP)

Regulatory projects and legal obligations

Percent of island's generating capacity (as a percent)

23.00%

Hawaiian Electric Company, Inc. and Subsidiaries

Environmental regulation

Percentage of reduction in GHG emissions by 2020 (as a percent)

16.00%

Estimated annual fee for greenhouse gas emissions

$ 500,000

Impact on earnings from recognition of AROs

0

Changes in the asset retirement obligation liability

Balance, beginning of period

25,589,000

$ 26,848,000

Accretion expense

3,000

3,000

Liabilities incurred

0

0

Liabilities settled

(403,000)

(138,000)

Revisions in estimated cash flows

0

0

Balance, end of period

$ 25,189,000

$ 26,713,000

Decoupling implementation experience, period (in years)

3 years

Proposed rate base adjustment, percent of previous rate base adjustment (as a percent)

90.00%

Effective interest rate, revenue balancing account (as a percent)

6.00%

Hawaiian Electric Company, Inc. and Subsidiaries | Maximum

Changes in the asset retirement obligation liability

Proposed effective interest rate, revenue balancing account (as a percent)

3.25%

Hawaiian Electric Company, Inc. and Subsidiaries | Minimum

Changes in the asset retirement obligation liability

Proposed effective interest rate, revenue balancing account (as a percent)

1.25%

Hawaiian Electric Company

Regulatory projects and legal obligations

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

5

Environmental regulation

Period of extension resulting in MATS compliance date (in years)

1 year

Maui Electric

Environmental regulation

Additional accrued investigation and estimated cleanup costs

$ 3,600,000

Biodiesel Fuel

Regulatory projects and legal obligations

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

3

Chevron

Regulatory projects and legal obligations

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

2

Pacific Biodiesel Technologies, LLC | Biodiesel Fuel

Regulatory projects and legal obligations

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

2

PPA extension period (in years)

1 year

REG Marketing & Logistics, LLC | Biodiesel Fuel

Regulatory projects and legal obligations

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

1

PPA extension period (in years)

1 year

Hu Honua Bioenergy, LLC

Regulatory projects and legal obligations

Minimum power volume required (in megawatts) | MW

21.5

Hawaiian Telcom

Changes in the asset retirement obligation liability

Accounts receivable and unbilled revenues, net

$ 21,700,000

Reserve for interest accrued

4,500,000

Hawaiian Telcom | Hawaii Electric Light Company, Inc. (HELCO)

Changes in the asset retirement obligation liability

Accounts receivable and unbilled revenues, net

5,900,000

Hawaiian Telcom | Hawaiian Electric Company

Changes in the asset retirement obligation liability

Accounts receivable and unbilled revenues, net

14,500,000

Hawaiian Telcom | Maui Electric

Changes in the asset retirement obligation liability

Accounts receivable and unbilled revenues, net

$ 1,300,000

Electric utility segment - Annu

Electric utility segment - Annual decoupling filings summary (Details)	Mar. 31, 2017USD ($)kWh
Hawaiian Electric Company
Regulatory projects and legal obligations
2017 Annual incremental RAM adjusted revenues	$ 12,700,000
Annual change in accrued earnings sharing credits	0
Annual change in accrued RBA balance as of December 31, 2016 (and associated revenue taxes) (refunded)	(2,400,000)
Net annual incremental amount to be collected under the tariffs	10,300,000
Impact on typical residential customer monthly bill (in dollars)	$ 0.60
Monthly utility usage assumption (in kilowatt hours) | kWh	500
HELCO
Regulatory projects and legal obligations
2017 Annual incremental RAM adjusted revenues	$ 3,200,000
Annual change in accrued earnings sharing credits	0
Annual change in accrued RBA balance as of December 31, 2016 (and associated revenue taxes) (refunded)	(2,500,000)
Net annual incremental amount to be collected under the tariffs	700,000
Impact on typical residential customer monthly bill (in dollars)	$ 0.15
Monthly utility usage assumption (in kilowatt hours) | kWh	500
Maui Electric
Regulatory projects and legal obligations
2017 Annual incremental RAM adjusted revenues	$ 2,400,000
Annual change in accrued earnings sharing credits	0
Annual change in accrued RBA balance as of December 31, 2016 (and associated revenue taxes) (refunded)	(200,000)
Net annual incremental amount to be collected under the tariffs	2,200,000
Impact on typical residential customer monthly bill (in dollars)	$ 1.18
Monthly utility usage assumption (in kilowatt hours) | kWh	500
Lanai and Molokai
Regulatory projects and legal obligations
Impact on typical residential customer monthly bill (in dollars)	$ (0.95)
Monthly utility usage assumption (in kilowatt hours) | kWh	400

Electric utility segment - Cond

Electric utility segment - Condensed consolidating statement of income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Income Statements, Captions [Line Items]
Revenues	$ 591,562	$ 550,960
Expenses
Purchased power	127,000	116,000
Total expenses	523,700	482,109
Total operating income	67,862	68,851
Allowance for equity funds used during construction	2,399	1,739
Allowance for borrowed funds used during construction	889	662
Income taxes	16,916	18,301
Net income	34,666	32,825
Preferred stock dividends of subsidiaries	473	473
Net income for common stock	34,193	32,352
Hawaiian Electric Company
Condensed Income Statements, Captions [Line Items]
Revenues	362,843	337,175
Expenses
Fuel oil	98,001	74,085
Purchased power	100,147	91,917
Other operation and maintenance	67,278	69,558
Depreciation	32,722	31,522
Taxes, other than income taxes	35,040	32,684
Total expenses	333,188	299,766
Total operating income	29,655	37,409
Allowance for equity funds used during construction	2,056	1,406
Equity in earnings of subsidiaries	8,603	7,929
Interest expense and other charges, net	(12,057)	(11,865)
Allowance for borrowed funds used during construction	749	529
Income before income taxes	29,006	35,408
Income taxes	7,271	9,771
Net income	21,735	25,637
Preferred stock dividends of subsidiaries	0	0
Net income attributable to Hawaiian Electric	21,735	25,637
Preferred stock dividends of Hawaiian Electric	270	270
Net income for common stock	21,465	25,367
HELCO
Condensed Income Statements, Captions [Line Items]
Revenues	78,982	73,183
Expenses
Fuel oil	17,257	14,374
Purchased power	18,589	16,797
Other operation and maintenance	15,516	16,441
Depreciation	9,685	9,449
Taxes, other than income taxes	7,450	6,891
Total expenses	68,497	63,952
Total operating income	10,485	9,231
Allowance for equity funds used during construction	115	127
Equity in earnings of subsidiaries	0	0
Interest expense and other charges, net	(3,004)	(2,965)
Allowance for borrowed funds used during construction	45	49
Income before income taxes	7,641	6,442
Income taxes	2,923	2,346
Net income	4,718	4,096
Preferred stock dividends of subsidiaries	134	134
Net income attributable to Hawaiian Electric	4,584	3,962
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	4,584	3,962
Maui Electric
Condensed Income Statements, Captions [Line Items]
Revenues	76,793	71,706
Expenses
Fuel oil	29,012	25,281
Purchased power	8,388	7,145
Other operation and maintenance	17,446	17,909
Depreciation	5,809	5,810
Taxes, other than income taxes	7,333	6,863
Total expenses	67,988	63,008
Total operating income	8,805	8,698
Allowance for equity funds used during construction	228	206
Equity in earnings of subsidiaries	0	0
Interest expense and other charges, net	(2,450)	(2,490)
Allowance for borrowed funds used during construction	95	84
Income before income taxes	6,678	6,498
Income taxes	2,564	2,436
Net income	4,114	4,062
Preferred stock dividends of subsidiaries	95	95
Net income attributable to Hawaiian Electric	4,019	3,967
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	4,019	3,967
Other subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenues	0	0
Expenses
Fuel oil	0	0
Purchased power	0	0
Other operation and maintenance	0	0
Depreciation	0	0
Taxes, other than income taxes	0	0
Total expenses	0	0
Total operating income	0	0
Allowance for equity funds used during construction	0	0
Equity in earnings of subsidiaries	0	0
Interest expense and other charges, net	0	0
Allowance for borrowed funds used during construction	0	0
Income before income taxes	0	0
Income taxes	0	0
Net income	0	0
Preferred stock dividends of subsidiaries	0	0
Net income attributable to Hawaiian Electric	0	0
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	0	0
Consolidating adjustments
Condensed Income Statements, Captions [Line Items]
Revenues	(7)	(12)
Expenses
Fuel oil	0	0
Purchased power	0	0
Other operation and maintenance	0	0
Depreciation	0	0
Taxes, other than income taxes	0	0
Total expenses	0	0
Total operating income	(7)	(12)
Allowance for equity funds used during construction	0	0
Equity in earnings of subsidiaries	(8,603)	(7,929)
Interest expense and other charges, net	7	12
Allowance for borrowed funds used during construction	0	0
Income before income taxes	(8,603)	(7,929)
Income taxes	0	0
Net income	(8,603)	(7,929)
Preferred stock dividends of subsidiaries	0	0
Net income attributable to Hawaiian Electric	(8,603)	(7,929)
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	(8,603)	(7,929)
Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenues	518,611	482,052
Expenses
Fuel oil	144,270	113,740
Purchased power	127,124	115,859
Other operation and maintenance	100,240	103,908
Depreciation	48,216	46,781
Taxes, other than income taxes	49,823	46,438
Total expenses	469,673	426,726
Total operating income	48,938	55,326
Allowance for equity funds used during construction	2,399	1,739
Equity in earnings of subsidiaries	0	0
Interest expense and other charges, net	(17,504)	(17,308)
Allowance for borrowed funds used during construction	889	662
Income before income taxes	34,722	40,419
Income taxes	12,758	14,553
Net income	21,964	25,866
Preferred stock dividends of subsidiaries	229	229
Net income attributable to Hawaiian Electric	21,735	25,637
Preferred stock dividends of Hawaiian Electric	270	270
Net income for common stock	$ 21,465	$ 25,367

Electric utility segment - Co46

Electric utility segment - Condensed consolidating statement of comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 34,193	$ 32,352
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits	454	54
Effective portion of foreign currency hedge net unrealized gain, net of taxes	0	1,002
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $2,304 and $2,061, respectively	3,921	3,538
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(3,613)	(3,222)
Other comprehensive income, net of taxes	985	8,800
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	35,178	41,152
Hawaiian Electric Company
Condensed Statement of Income Captions [Line Items]
Net income for common stock	21,465	25,367
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits	454
Effective portion of foreign currency hedge net unrealized gain, net of taxes		1,002
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $2,304 and $2,061, respectively	3,618	3,236
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(3,613)	(3,222)
Other comprehensive income, net of taxes	459	1,016
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	21,924	26,383
HELCO
Condensed Statement of Income Captions [Line Items]
Net income for common stock	4,584	3,962
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits	0
Effective portion of foreign currency hedge net unrealized gain, net of taxes		0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $2,304 and $2,061, respectively	503	458
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(503)	(458)
Other comprehensive income, net of taxes	0	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	4,584	3,962
Maui Electric
Condensed Statement of Income Captions [Line Items]
Net income for common stock	4,019	3,967
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits	0
Effective portion of foreign currency hedge net unrealized gain, net of taxes		0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $2,304 and $2,061, respectively	466	418
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(467)	(418)
Other comprehensive income, net of taxes	(1)	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	4,018	3,967
Other subsidiaries
Condensed Statement of Income Captions [Line Items]
Net income for common stock	0	0
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits	0
Effective portion of foreign currency hedge net unrealized gain, net of taxes		0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $2,304 and $2,061, respectively	0	0
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	0	0
Other comprehensive income, net of taxes	0	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	0	0
Consolidating adjustments
Condensed Statement of Income Captions [Line Items]
Net income for common stock	(8,603)	(7,929)
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits	0
Effective portion of foreign currency hedge net unrealized gain, net of taxes		0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $2,304 and $2,061, respectively	(969)	(876)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	970	876
Other comprehensive income, net of taxes	1	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	(8,602)	(7,929)
Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Statement of Income Captions [Line Items]
Net income for common stock	21,465	25,367
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits	454	0
Effective portion of foreign currency hedge net unrealized gain, net of taxes	0	1,002
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $2,304 and $2,061, respectively	3,618	3,236
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(3,613)	(3,222)
Other comprehensive income, net of taxes	459	1,016
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 21,924	$ 26,383

Electric utility segment - Co47

Electric utility segment - Condensed consolidating balance sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Utility property, plant and equipment
Total property, plant and equipment, net	$ 4,641,514	$ 4,603,465
Current assets
Cash and cash equivalents	234,230	278,452	$ 334,743	$ 300,478
Other long-term assets
Total assets	12,543,275	12,425,506
Capitalization
Common stock equity	2,065,588	2,066,753	1,942,179	1,927,640
Cumulative preferred stock — not subject to mandatory redemption	0	0
Current liabilities
Interest and preferred dividends payable	27,407	25,225
Deferred credits and other liabilities
Deferred income taxes	740,506	728,806
Contributions in aid of construction	541,574	543,525
Total liabilities and shareholders’ equity	12,543,275	12,425,506
Hawaiian Electric Company
Utility property, plant and equipment
Land	43,950	43,956
Plant and equipment	4,272,395	4,241,060
Less accumulated depreciation	(1,404,024)	(1,382,972)
Construction in progress	196,535	180,194
Utility property, plant and equipment, net	3,108,856	3,082,238
Nonutility property, plant and equipment, less accumulated depreciation	5,763	5,760
Total property, plant and equipment, net	3,114,619	3,087,998
Investment in wholly owned subsidiaries, at equity	552,688	550,946
Current assets
Cash and cash equivalents	8,617	61,388	29,307	16,281
Advances to affiliates	0	0
Customer accounts receivable, net	82,389	86,373
Accrued unbilled revenues, net	70,398	65,821
Other accounts receivable, net	24,489	7,652
Fuel oil stock, at average cost	56,473	47,239
Materials and supplies, at average cost	32,195	29,928
Prepayments and other	21,150	16,502
Regulatory assets	73,548	60,185
Total current assets	369,259	375,088
Other long-term assets
Regulatory assets	637,014	662,232
Unamortized debt expense	133	151
Other	44,598	43,743
Total other long-term assets	681,745	706,126
Total assets	4,718,311	4,720,158
Capitalization
Common stock equity	1,799,769	1,799,787	1,731,304	1,728,325
Cumulative preferred stock — not subject to mandatory redemption	22,293	22,293
Long-term debt, net	915,175	915,437
Total capitalization	2,737,237	2,737,517
Current liabilities
Short-term borrowings from affiliates	1,500
Short-term borrowings from affiliate	9,000	13,500
Accounts payable	103,957	86,369
Interest and preferred dividends payable	18,172	15,761
Taxes accrued	90,035	120,176
Regulatory liabilities	0	0
Other	42,721	41,352
Total current liabilities	265,385	277,158
Deferred credits and other liabilities
Deferred income taxes	532,497	524,433
Regulatory liabilities	288,748	281,112
Unamortized tax credits	58,691	57,844
Defined benefit pension and other postretirement benefit plans liability	440,246	444,458
Other	49,630	49,191
Total deferred credits and other liabilities	1,369,812	1,357,038
Contributions in aid of construction	345,877	348,445
Total liabilities and shareholders’ equity	4,718,311	4,720,158
HELCO
Utility property, plant and equipment
Land	6,191	6,181
Plant and equipment	1,261,079	1,255,185
Less accumulated depreciation	(511,473)	(507,666)
Construction in progress	13,249	12,510
Utility property, plant and equipment, net	769,046	766,210
Nonutility property, plant and equipment, less accumulated depreciation	115	115
Total property, plant and equipment, net	769,161	766,325
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	2,952	10,749	12,070	2,682
Advances to affiliates	6,500	3,500
Customer accounts receivable, net	18,735	20,055
Accrued unbilled revenues, net	13,883	13,564
Other accounts receivable, net	2,526	2,445
Fuel oil stock, at average cost	6,744	8,229
Materials and supplies, at average cost	8,494	7,380
Prepayments and other	4,621	5,352
Regulatory assets	4,210	3,483
Total current assets	68,665	74,757
Other long-term assets
Regulatory assets	119,783	120,863
Unamortized debt expense	20	23
Other	13,120	13,573
Total other long-term assets	132,923	134,459
Total assets	970,749	975,541
Capitalization
Common stock equity	292,001	291,291	293,358	292,702
Cumulative preferred stock — not subject to mandatory redemption	7,000	7,000
Long-term debt, net	213,732	213,703
Total capitalization	512,733	511,994
Current liabilities
Short-term borrowings from affiliates	0
Short-term borrowings from affiliate	0	0
Accounts payable	14,665	18,126
Interest and preferred dividends payable	4,007	4,206
Taxes accrued	21,965	28,100
Regulatory liabilities	2,004	2,219
Other	7,938	7,637
Total current liabilities	50,579	60,288
Deferred credits and other liabilities
Deferred income taxes	109,733	108,052
Regulatory liabilities	96,380	93,974
Unamortized tax credits	16,941	15,994
Defined benefit pension and other postretirement benefit plans liability	74,100	75,005
Other	12,996	13,024
Total deferred credits and other liabilities	310,150	306,049
Contributions in aid of construction	97,287	97,210
Total liabilities and shareholders’ equity	970,749	975,541
Maui Electric
Utility property, plant and equipment
Land	3,016	3,016
Plant and equipment	1,117,620	1,109,487
Less accumulated depreciation	(483,725)	(478,644)
Construction in progress	20,288	19,038
Utility property, plant and equipment, net	657,199	652,897
Nonutility property, plant and equipment, less accumulated depreciation	1,532	1,532
Total property, plant and equipment, net	658,731	654,429
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	1,537	2,048	7,564	5,385
Advances to affiliates	2,500	10,000
Customer accounts receivable, net	16,866	17,260
Accrued unbilled revenues, net	13,351	12,308
Other accounts receivable, net	1,125	1,416
Fuel oil stock, at average cost	10,657	10,962
Materials and supplies, at average cost	16,356	16,371
Prepayments and other	3,163	2,179
Regulatory assets	4,194	2,364
Total current assets	69,749	74,908
Other long-term assets
Regulatory assets	106,660	108,324
Unamortized debt expense	30	34
Other	14,151	13,592
Total other long-term assets	120,841	121,950
Total assets	849,321	851,287
Capitalization
Common stock equity	260,586	259,554	264,426	263,725
Cumulative preferred stock — not subject to mandatory redemption	5,000	5,000
Long-term debt, net	189,964	190,120
Total capitalization	455,550	454,674
Current liabilities
Short-term borrowings from affiliates	0
Short-term borrowings from affiliate	0	0
Accounts payable	11,241	13,319
Interest and preferred dividends payable	3,997	2,882
Taxes accrued	19,330	25,387
Regulatory liabilities	687	1,543
Other	13,326	12,501
Total current liabilities	48,581	55,632
Deferred credits and other liabilities
Deferred income taxes	103,572	100,911
Regulatory liabilities	32,121	31,845
Unamortized tax credits	15,380	15,123
Defined benefit pension and other postretirement benefit plans liability	79,510	80,263
Other	16,197	14,969
Total deferred credits and other liabilities	246,780	243,111
Contributions in aid of construction	98,410	97,870
Total liabilities and shareholders’ equity	849,321	851,287
Other subsidiaries
Utility property, plant and equipment
Land	0	0
Plant and equipment	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	101	101	101	101
Advances to affiliates	0	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	101	101
Other long-term assets
Regulatory assets	0	0
Unamortized debt expense	0	0
Other	0	0
Total other long-term assets	0	0
Total assets	101	101
Capitalization
Common stock equity	101	101	101	101
Cumulative preferred stock — not subject to mandatory redemption	0	0
Long-term debt, net	0	0
Total capitalization	101	101
Current liabilities
Short-term borrowings from affiliates	0
Short-term borrowings from affiliate	0	0
Accounts payable	0	0
Interest and preferred dividends payable	0	0
Taxes accrued	0	0
Regulatory liabilities	0	0
Other	0	0
Total current liabilities	0	0
Deferred credits and other liabilities
Deferred income taxes	0	0
Regulatory liabilities	0	0
Unamortized tax credits	0	0
Defined benefit pension and other postretirement benefit plans liability	0	0
Other	0	0
Total deferred credits and other liabilities	0	0
Contributions in aid of construction	0	0
Total liabilities and shareholders’ equity	101	101
Consolidating adjustments
Utility property, plant and equipment
Land	0	0
Plant and equipment	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	(552,688)	(550,946)
Current assets
Cash and cash equivalents	0	0	0	0
Advances to affiliates	(9,000)	(13,500)
Customer accounts receivable, net	0	0
Accrued unbilled revenues, net	0	0
Other accounts receivable, net	(7,752)	(6,280)
Fuel oil stock, at average cost	0	0
Materials and supplies, at average cost	0	0
Prepayments and other	0	(933)
Regulatory assets	0	0
Total current assets	(16,752)	(20,713)
Other long-term assets
Regulatory assets	0	0
Unamortized debt expense	0	0
Other	0	0
Total other long-term assets	0	0
Total assets	(569,440)	(571,659)
Capitalization
Common stock equity	(552,688)	(550,946)	(557,885)	(556,528)
Cumulative preferred stock — not subject to mandatory redemption	0	0
Long-term debt, net	0	0
Total capitalization	(552,688)	(550,946)
Current liabilities
Short-term borrowings from affiliates	0
Short-term borrowings from affiliate	(9,000)	(13,500)
Accounts payable	0	0
Interest and preferred dividends payable	(2)	(11)
Taxes accrued	0	(933)
Regulatory liabilities	0	0
Other	(7,750)	(6,269)
Total current liabilities	(16,752)	(20,713)
Deferred credits and other liabilities
Deferred income taxes	215	263
Regulatory liabilities	0	0
Unamortized tax credits	0	0
Defined benefit pension and other postretirement benefit plans liability	0	0
Other	(215)	(263)
Total deferred credits and other liabilities	0	0
Contributions in aid of construction	0	0
Total liabilities and shareholders’ equity	(569,440)	(571,659)
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Land	53,157	53,153
Plant and equipment	6,651,094	6,605,732
Less accumulated depreciation	(2,399,222)	(2,369,282)
Construction in progress	230,072	211,742
Utility property, plant and equipment, net	4,535,101	4,501,345
Nonutility property, plant and equipment, less accumulated depreciation	7,410	7,407
Total property, plant and equipment, net	4,542,511	4,508,752
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	13,207	74,286	49,042	24,449
Advances to affiliates	0	0
Customer accounts receivable, net	117,990	123,688
Accrued unbilled revenues, net	97,632	91,693
Other accounts receivable, net	20,388	5,233
Fuel oil stock, at average cost	73,874	66,430
Materials and supplies, at average cost	57,045	53,679
Prepayments and other	28,934	23,100
Regulatory assets	81,952	66,032
Total current assets	491,022	504,141
Other long-term assets
Regulatory assets	863,457	891,419
Unamortized debt expense	183	208
Other	71,869	70,908
Total other long-term assets	935,509	962,535
Total assets	5,969,042	5,975,428
Capitalization
Common stock equity	1,799,769	1,799,787	$ 1,731,304	$ 1,728,325
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,318,871	1,319,260
Total capitalization	3,152,933	3,153,340
Current liabilities
Short-term borrowings from affiliates	1,500	0
Short-term borrowings from affiliate	0	0
Accounts payable	129,863	117,814
Interest and preferred dividends payable	26,174	22,838
Taxes accrued	131,330	172,730
Regulatory liabilities	2,691	3,762
Other	56,235	55,221
Total current liabilities	347,793	372,365
Deferred credits and other liabilities
Deferred income taxes	746,017	733,659
Regulatory liabilities	417,249	406,931
Unamortized tax credits	91,012	88,961
Defined benefit pension and other postretirement benefit plans liability	593,856	599,726
Other	78,608	76,921
Total deferred credits and other liabilities	1,926,742	1,906,198
Contributions in aid of construction	541,574	543,525
Total liabilities and shareholders’ equity	$ 5,969,042	$ 5,975,428

Electric utility segment - Co48

Electric utility segment - Condensed consolidating statement of changes in common stock equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Increase (decrease) in stockholders' equity
Beginning Balance	$ 2,066,753	$ 1,927,640
Net income for common stock	34,193	32,352
Other comprehensive income (loss), net of taxes	985	8,800
Common stock dividends	(33,713)	(33,367)
Ending Balance	2,065,588	1,942,179
Hawaiian Electric Company
Increase (decrease) in stockholders' equity
Beginning Balance	1,799,787	1,728,325
Net income for common stock	21,465	25,367
Other comprehensive income (loss), net of taxes	459	1,016
Common stock dividends	(21,942)	(23,400)
Common stock issuance expenses		(4)
Ending Balance	1,799,769	1,731,304
HELCO
Increase (decrease) in stockholders' equity
Beginning Balance	291,291	292,702
Net income for common stock	4,584	3,962
Other comprehensive income (loss), net of taxes	0	0
Common stock dividends	(3,874)	(3,302)
Common stock issuance expenses		(4)
Ending Balance	292,001	293,358
Maui Electric
Increase (decrease) in stockholders' equity
Beginning Balance	259,554	263,725
Net income for common stock	4,019	3,967
Other comprehensive income (loss), net of taxes	(1)	0
Common stock dividends	(2,986)	(3,265)
Common stock issuance expenses		(1)
Ending Balance	260,586	264,426
Other subsidiaries
Increase (decrease) in stockholders' equity
Beginning Balance	101	101
Net income for common stock	0	0
Other comprehensive income (loss), net of taxes	0	0
Common stock dividends	0	0
Common stock issuance expenses		0
Ending Balance	101	101
Consolidating adjustments
Increase (decrease) in stockholders' equity
Beginning Balance	(550,946)	(556,528)
Net income for common stock	(8,603)	(7,929)
Other comprehensive income (loss), net of taxes	1	0
Common stock dividends	6,860	6,567
Common stock issuance expenses		5
Ending Balance	(552,688)	(557,885)
Hawaiian Electric Company, Inc. and Subsidiaries
Increase (decrease) in stockholders' equity
Beginning Balance	1,799,787	1,728,325
Net income for common stock	21,465	25,367
Other comprehensive income (loss), net of taxes	459	1,016
Common stock dividends	(21,942)	(23,400)
Common stock issuance expenses		(4)
Ending Balance	$ 1,799,769	$ 1,731,304

Electric utility segment - Co49

Electric utility segment - Condensed consolidating statement of cash flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net income	$ 34,666	$ 32,825
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	50,051	48,594
Other amortization	2,372	1,928
Deferred income taxes	10,096	13,008
Allowance for equity funds used during construction	(2,399)	(1,739)
Other	(347)	1,702
Changes in assets and liabilities
Decrease (increase) in fuel oil stock	(7,444)	22,812
Decrease (increase) in regulatory assets	5,909	1,585
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(42,175)	(14,343)
Increase in defined benefit pension and other postretirement benefit plans liability	1,012	137
Net cash provided by operating activities	93,934	170,972
Cash flows from investing activities
Capital expenditures	(138,185)	(127,818)
Contributions in aid of construction	10,650	13,761
Other	5,709	819
Net cash used in investing activities	(231,424)	(215,251)
Cash flows from financing activities
Common stock dividends	(33,713)	(27,716)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	2,300	(7,578)
Other	(4,857)	(1,561)
Net cash provided by financing activities	93,268	78,544
Net increase (decrease) in cash and cash equivalents	(44,222)	34,265
Cash and cash equivalents, beginning of period	278,452	300,478
Cash and cash equivalents, end of period	234,230	334,743
Hawaiian Electric Company
Cash flows from operating activities
Net income	21,735	25,637
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	(8,628)	(7,954)
Common stock dividends received from subsidiaries	6,910	6,592
Depreciation of property, plant and equipment	32,722	31,522
Other amortization	914	1,045
Deferred income taxes	6,810	9,764
Allowance for equity funds used during construction	(2,056)	(1,406)
Other	661	1,386
Changes in assets and liabilities
Decrease (increase) in accounts receivable	(10,724)	22,606
Increase in accrued unbilled revenues	(4,577)	58
Decrease (increase) in fuel oil stock	(9,234)	14,902
Decrease (increase) in materials and supplies	(2,267)	378
Decrease (increase) in regulatory assets	7,711	79
Increase in accounts payable	59,861	24,827
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(32,272)	(31,916)
Increase in defined benefit pension and other postretirement benefit plans liability	240	177
Change in other assets and liabilities	(4,249)	15,249
Net cash provided by operating activities	63,557	112,946
Cash flows from investing activities
Capital expenditures	(101,953)	(97,363)
Contributions in aid of construction	8,934	11,585
Other	2,352	22
Advances from affiliates	0	0
Net cash used in investing activities	(90,667)	(85,756)
Cash flows from financing activities
Common stock dividends	(21,942)	(23,400)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(270)	(270)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	(3,000)	9,498
Other	(449)	8
Net cash provided by financing activities	(25,661)	(14,164)
Net increase (decrease) in cash and cash equivalents	(52,771)	13,026
Cash and cash equivalents, beginning of period	61,388	16,281
Cash and cash equivalents, end of period	8,617	29,307
HELCO
Cash flows from operating activities
Net income	4,718	4,096
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	0	0
Common stock dividends received from subsidiaries	0	0
Depreciation of property, plant and equipment	9,685	9,449
Other amortization	442	268
Deferred income taxes	1,700	1,277
Allowance for equity funds used during construction	(115)	(127)
Other	(138)	154
Changes in assets and liabilities
Decrease (increase) in accounts receivable	1,239	2,113
Increase in accrued unbilled revenues	(319)	(326)
Decrease (increase) in fuel oil stock	1,485	2,622
Decrease (increase) in materials and supplies	(1,114)	(27)
Decrease (increase) in regulatory assets	(677)	397
Increase in accounts payable	2,735	1,652
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(5,352)	(1,634)
Increase in defined benefit pension and other postretirement benefit plans liability	14	13
Change in other assets and liabilities	805	5,562
Net cash provided by operating activities	15,108	25,489
Cash flows from investing activities
Capital expenditures	(16,890)	(16,649)
Contributions in aid of construction	915	969
Other	78	23
Advances from affiliates	(3,000)	3,000
Net cash used in investing activities	(18,897)	(12,657)
Cash flows from financing activities
Common stock dividends	(3,874)	(3,302)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(134)	(134)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	0	0
Other	0	(8)
Net cash provided by financing activities	(4,008)	(3,444)
Net increase (decrease) in cash and cash equivalents	(7,797)	9,388
Cash and cash equivalents, beginning of period	10,749	2,682
Cash and cash equivalents, end of period	2,952	12,070
Maui Electric
Cash flows from operating activities
Net income	4,114	4,062
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	0	0
Common stock dividends received from subsidiaries	0	0
Depreciation of property, plant and equipment	5,809	5,810
Other amortization	593	461
Deferred income taxes	2,602	2,517
Allowance for equity funds used during construction	(228)	(206)
Other	(87)	162
Changes in assets and liabilities
Decrease (increase) in accounts receivable	685	3,563
Increase in accrued unbilled revenues	(1,043)	(590)
Decrease (increase) in fuel oil stock	305	5,288
Decrease (increase) in materials and supplies	15	(178)
Decrease (increase) in regulatory assets	(1,125)	1,109
Increase in accounts payable	1,578	1,287
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(6,408)	(8,466)
Increase in defined benefit pension and other postretirement benefit plans liability	10	15
Change in other assets and liabilities	197	169
Net cash provided by operating activities	7,017	15,003
Cash flows from investing activities
Capital expenditures	(12,812)	(11,171)
Contributions in aid of construction	801	1,207
Other	272	0
Advances from affiliates	7,500	500
Net cash used in investing activities	(4,239)	(9,464)
Cash flows from financing activities
Common stock dividends	(2,986)	(3,265)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(95)	(95)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	0	0
Other	(208)	0
Net cash provided by financing activities	(3,289)	(3,360)
Net increase (decrease) in cash and cash equivalents	(511)	2,179
Cash and cash equivalents, beginning of period	2,048	5,385
Cash and cash equivalents, end of period	1,537	7,564
Other subsidiaries
Cash flows from operating activities
Net income	0	0
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	0	0
Common stock dividends received from subsidiaries	0	0
Depreciation of property, plant and equipment	0	0
Other amortization	0	0
Deferred income taxes	0	0
Allowance for equity funds used during construction	0	0
Other	0	0
Changes in assets and liabilities
Decrease (increase) in accounts receivable	0	0
Increase in accrued unbilled revenues	0	0
Decrease (increase) in fuel oil stock	0	0
Decrease (increase) in materials and supplies	0	0
Decrease (increase) in regulatory assets	0	0
Increase in accounts payable	0	0
Change in prepaid and accrued income taxes, tax credits and revenue taxes	0	0
Increase in defined benefit pension and other postretirement benefit plans liability	0	0
Change in other assets and liabilities	0	0
Net cash provided by operating activities	0	0
Cash flows from investing activities
Capital expenditures	0	0
Contributions in aid of construction	0	0
Other	0	0
Advances from affiliates	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
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	0	0
Other	0	0
Net cash provided by financing activities	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	101	101
Cash and cash equivalents, end of period	101	101
Consolidating adjustments
Cash flows from operating activities
Net income	(8,603)	(7,929)
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	8,603	7,929
Common stock dividends received from subsidiaries	(6,860)	(6,567)
Depreciation of property, plant and equipment	0	0
Other amortization	0	0
Deferred income taxes	(48)	0
Allowance for equity funds used during construction	0	0
Other	0	0
Changes in assets and liabilities
Decrease (increase) in accounts receivable	1,472	15
Increase in accrued unbilled revenues	0	0
Decrease (increase) in fuel oil stock	0	0
Decrease (increase) in materials and supplies	0	0
Decrease (increase) in regulatory assets	0	0
Increase in accounts payable	0	0
Change in prepaid and accrued income taxes, tax credits and revenue taxes	48	(2)
Increase in defined benefit pension and other postretirement benefit plans liability	0	0
Change in other assets and liabilities	(1,472)	(13)
Net cash provided by operating activities	(6,860)	(6,567)
Cash flows from investing activities
Capital expenditures	0	0
Contributions in aid of construction	0	0
Other	0	0
Advances from affiliates	(4,500)	(3,500)
Net cash used in investing activities	(4,500)	(3,500)
Cash flows from financing activities
Common stock dividends	6,860	6,567
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	4,500	3,500
Other	0	0
Net cash provided by financing activities	11,360	10,067
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	21,964	25,866
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	(25)	(25)
Common stock dividends received from subsidiaries	50	25
Depreciation of property, plant and equipment	48,216	46,781
Other amortization	1,949	1,774
Deferred income taxes	11,064	13,558
Allowance for equity funds used during construction	(2,399)	(1,739)
Other	436	1,702
Changes in assets and liabilities
Decrease (increase) in accounts receivable	(7,328)	28,297
Increase in accrued unbilled revenues	(5,939)	(858)
Decrease (increase) in fuel oil stock	(7,444)	22,812
Decrease (increase) in materials and supplies	(3,366)	173
Decrease (increase) in regulatory assets	5,909	1,585
Increase in accounts payable	64,174	27,766
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(43,984)	(42,018)
Increase in defined benefit pension and other postretirement benefit plans liability	264	205
Change in other assets and liabilities	(4,719)	20,967
Net cash provided by operating activities	78,822	146,871
Cash flows from investing activities
Capital expenditures	(131,655)	(125,183)
Contributions in aid of construction	10,650	13,761
Other	2,702	45
Advances from affiliates	0	0
Net cash used in investing activities	(118,303)	(111,377)
Cash flows from financing activities
Common stock dividends	(21,942)	(23,400)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(499)	(499)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	1,500	12,998
Other	(657)	0
Net cash provided by financing activities	(21,598)	(10,901)
Net increase (decrease) in cash and cash equivalents	(61,079)	24,593
Cash and cash equivalents, beginning of period	74,286	24,449
Cash and cash equivalents, end of period	$ 13,207	$ 49,042

Bank segment - Income statemen

Bank segment - Income statement data (unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Noninterest expense
Income before income taxes	$ 51,582	$ 51,126
Income taxes	16,916	18,301
Net income for common stock	34,193	32,352
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans	50,742	48,437
Interest and dividends on investment securities	6,980	5,017
Total interest and dividend income	57,722	53,454
Interest expense
Interest on deposit liabilities	2,103	1,592
Interest on other borrowings	816	1,485
Total interest expense	2,919	3,077
Net interest income	54,803	50,377
Provision for loan losses	3,907	4,766
Net interest income after provision for loan losses	50,896	45,611
Noninterest income
Fees from other financial services	5,610	5,499
Fee income on deposit liabilities	5,428	5,156
Fee income on other financial products	1,866	2,205
Bank-owned life insurance	983	998
Mortgage banking income	789	1,195
Other income, net	458	333
Total noninterest income	15,134	15,386
Noninterest expense
Compensation and employee benefits	23,237	22,434
Occupancy	4,154	4,138
Data processing	3,280	3,172
Services	2,360	2,911
Equipment	1,748	1,663
Office supplies, printing and postage	1,535	1,365
Marketing	517	861
FDIC insurance	728	884
Other expense	4,311	3,975
Total noninterest expense	41,870	41,403
Income before income taxes	24,160	19,594
Income taxes	8,347	6,921
Net income for common stock	$ 15,813	$ 12,673

Bank segment - Comprehensive i

Bank segment - Comprehensive income data (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 34,193	$ 32,352
Net unrealized gains (losses) on securities:
Net unrealized gains on available-for-sale investment securities arising during the period, net of taxes of $148 and $4,905, respectively	223	7,428
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $404 and $137, respectively	3,921	3,538
Other comprehensive income, net of taxes	985	8,800
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	35,178	41,152
Net unrealized gains (losses) on securities arising during the period, taxes (benefits)	148	4,905
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	2,502	2,257
American Savings Bank (ASB)
Condensed Statement of Income Captions [Line Items]
Net income for common stock	15,813	12,673
Net unrealized gains (losses) on securities:
Net unrealized gains on available-for-sale investment securities arising during the period, net of taxes of $148 and $4,905, respectively	223	7,429
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $404 and $137, respectively	612	208
Other comprehensive income, net of taxes	835	7,637
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	16,648	20,310
Net unrealized gains (losses) on securities arising during the period, taxes (benefits)	148	4,905
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	$ 404	$ 137

Bank segment - Balance sheet d

Bank segment - Balance sheet data (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Assets
Available-for-sale investment securities, at fair value	$ 1,228,922	$ 1,105,182
Stock in Federal Home Loan Bank, at cost	11,706	11,218
Net loans	4,669,274	4,683,160
Loans held for sale, at lower of cost or fair value	10,454	18,817
Other	467,160	447,621
Goodwill	82,190	82,190
Total assets	12,543,275	12,425,506
Liabilities
Other	423,989	473,512
Total liabilities	10,443,394	10,324,460
Commitments and contingencies
Equity [Abstract]
Retained earnings	439,452	438,972
Accumulated other comprehensive income (loss), net of taxes:
Accumulated other comprehensive loss, net of tax benefits	(32,144)	(33,129)
Total shareholders’ equity	2,065,588	2,066,753	$ 1,942,179	$ 1,927,640
Total liabilities and shareholders’ equity	12,543,275	12,425,506
Other assets
Premises and equipment, net	4,641,514	4,603,465
Total Other Assets	467,160	447,621
Other liabilities
Total other liabilities	423,989	473,512
Balance Sheet related disclosures
Securities sold under agreements to repurchase	100,000	93,000
American Savings Bank (ASB)
Assets
Cash and due from banks	125,901	137,083
Interest-bearing deposits	94,573	52,128
Restricted cash	0	1,764
Available-for-sale investment securities, at fair value	1,228,922	1,105,182
Stock in Federal Home Loan Bank, at cost	11,706	11,218
Loans receivable held for investment	4,725,271	4,738,693
Allowance for loan losses	(55,997)	(55,533)
Net loans	4,669,274	4,683,160
Loans held for sale, at lower of cost or fair value	10,454	18,817
Other	336,626	329,815
Goodwill	82,190	82,190
Total assets	6,559,646	6,421,357
Liabilities
Deposit liabilities—noninterest-bearing	1,696,390	1,639,051
Deposit liabilities—interest-bearing	3,978,700	3,909,878
Other borrowings	200,154	192,618
Other	98,223	101,635
Total liabilities	5,973,467	5,843,182
Commitments and contingencies
Common stock	1	1
Equity [Abstract]
Additional paid in capital	343,435	342,704
Retained earnings	264,381	257,943
Accumulated other comprehensive income (loss), net of taxes:
Net unrealized losses on securities	(7,708)	(7,931)
Retirement benefit plans	(13,930)	(14,542)
Accumulated other comprehensive loss, net of tax benefits	(21,638)	(22,473)
Total shareholders’ equity	586,179	578,175
Total liabilities and shareholders’ equity	6,559,646	6,421,357
Other assets
Bank-owned life insurance	144,661	143,197
Premises and equipment, net	94,865	90,570
Prepaid expenses	4,031	3,348
Accrued interest receivable	16,508	16,824
Mortgage-servicing rights	9,294	9,373
Low-income housing equity investments	46,782	47,081
Real estate acquired in settlement of loans, net	1,242	1,189
Other	19,243	18,233
Total Other Assets	336,626	329,815
Other liabilities
Accrued expenses	32,324	36,754
Federal and state income taxes payable	10,642	4,728
Cashier’s checks	23,777	24,156
Advance payments by borrowers	6,134	10,335
Other	25,346	25,662
Total other liabilities	98,223	101,635
Balance Sheet related disclosures
Securities sold under agreements to repurchase	100,000	93,000
Advances from Federal Home Loan Bank	$ 100,000	$ 100,000

Bank segment - Components of i

Bank segment - Components of investment securities (Details) $ in Thousands	Mar. 31, 2017USD ($)issue	Dec. 31, 2016USD ($)issue
Available-for-sale securities
Amortized cost	$ 1,241,719	$ 1,118,350
Gross unrealized gains	2,647	2,662
Gross unrealized losses	(15,444)	(15,830)
Available-for-sale investment securities	$ 1,228,922	$ 1,105,182
Available-for-sale Securities, Continuous Unrealized Loss Position
Available-for-sale, securities, less than 12 months, number of issues (in shares) | issue	110	106
Fair value, less than 12 months	$ 890,244	$ 833,130
Gross unrealized losses, less than 12 months	$ (13,775)	$ (14,153)
Available-for-sale, securities, greater than 12 months, number of issues (in shares) | issue	14	14
Fair value, 12 months or longer	$ 48,517	$ 50,970
Gross unrealized losses, 12 months or longer	(1,669)	(1,677)
U.S. Treasury and federal agency obligations
Available-for-sale securities
Amortized cost	189,420	193,515
Gross unrealized gains	928	920
Gross unrealized losses	(1,991)	(2,154)
Available-for-sale investment securities	$ 188,357	$ 192,281
Available-for-sale Securities, Continuous Unrealized Loss Position
Available-for-sale, securities, less than 12 months, number of issues (in shares) | issue	14	18
Fair value, less than 12 months	$ 97,572	$ 123,475
Gross unrealized losses, less than 12 months	$ (1,855)	$ (2,010)
Available-for-sale, securities, greater than 12 months, number of issues (in shares) | issue	1	1
Fair value, 12 months or longer	$ 3,492	$ 3,485
Gross unrealized losses, 12 months or longer	(136)	(144)
Mortgage-related securities- FNMA, FHLMC and GNMA
Available-for-sale securities
Amortized cost	1,036,872	909,408
Gross unrealized gains	1,719	1,742
Gross unrealized losses	(13,453)	(13,676)
Available-for-sale investment securities	$ 1,025,138	$ 897,474
Available-for-sale Securities, Continuous Unrealized Loss Position
Available-for-sale, securities, less than 12 months, number of issues (in shares) | issue	96	88
Fair value, less than 12 months	$ 792,672	$ 709,655
Gross unrealized losses, less than 12 months	$ (11,920)	$ (12,143)
Available-for-sale, securities, greater than 12 months, number of issues (in shares) | issue	13	13
Fair value, 12 months or longer	$ 45,025	$ 47,485
Gross unrealized losses, 12 months or longer	(1,533)	(1,533)
Mortgage revenue bond
Available-for-sale securities
Amortized cost	15,427	15,427
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Available-for-sale investment securities	$ 15,427	$ 15,427
Available-for-sale Securities, Continuous Unrealized Loss Position
Available-for-sale, securities, less than 12 months, number of issues (in shares) | issue	0	0
Fair value, less than 12 months	$ 0	$ 0
Gross unrealized losses, less than 12 months	$ 0	$ 0
Available-for-sale, securities, greater than 12 months, number of issues (in shares) | issue	0	0
Fair value, 12 months or longer	$ 0	$ 0
Gross unrealized losses, 12 months or longer	$ 0	$ 0

Bank segment - Contractual mat

Bank segment - Contractual maturities of securities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Amortized cost
Due in one year or less	$ 9,986
Due after one year through five years	77,165
Due after five years through ten years	78,014
Due after ten years	39,682
Total amortized cost	204,847
Mortgage-related securities-FNMA, FHLMC and GNMA - amortized cost	1,036,872
Amortized cost	1,241,719	$ 1,118,350
Fair value
Due in one year or less	9,993
Due after one year through five years	77,274
Due after five years through ten years	77,582
Due after ten years	38,935
Total fair value	203,784
Mortgage-related securities-FNMA, FHLMC and GNMA - fair value	1,025,138
Available-for-sale securities	$ 1,228,922	$ 1,105,182

Bank segment - Allowance for l

Bank segment - Allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	$ 55,533	$ 50,038
Charge-offs	(4,340)	(2,958)
Recoveries	897	480
Provision	3,907	4,766
Valuation allowance, balance at the end of the period	55,997	52,326
Ending balance: individually evaluated for impairment	3,700		$ 4,083
Ending balance: collectively evaluated for impairment	52,297		51,450
Financing Receivables:
Total financing receivables	4,729,792		4,743,619
Ending balance: individually evaluated for impairment	39,765		51,759
Ending balance: collectively evaluated for impairment	4,690,027		4,691,860
Residential 1-4 family
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	2,873	4,186
Charge-offs	(6)	(45)
Recoveries	9	17
Provision	(95)	435
Valuation allowance, balance at the end of the period	2,781	4,593
Ending balance: individually evaluated for impairment	1,386		1,352
Ending balance: collectively evaluated for impairment	1,395		1,521
Financing Receivables:
Total financing receivables	2,058,202		2,048,051
Ending balance: individually evaluated for impairment	19,340		19,854
Ending balance: collectively evaluated for impairment	2,038,862		2,028,197
Commercial real estate
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	16,004	11,342
Charge-offs	0	0
Recoveries	0	0
Provision	500	464
Valuation allowance, balance at the end of the period	16,504	11,806
Ending balance: individually evaluated for impairment	74		80
Ending balance: collectively evaluated for impairment	16,430		15,924
Financing Receivables:
Total financing receivables	790,191		800,395
Ending balance: individually evaluated for impairment	1,515		1,569
Ending balance: collectively evaluated for impairment	788,676		798,826
Home equity line of credit
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	5,039	7,260
Charge-offs	(14)	0
Recoveries	91	15
Provision	301	(103)
Valuation allowance, balance at the end of the period	5,417	7,172
Ending balance: individually evaluated for impairment	228		215
Ending balance: collectively evaluated for impairment	5,189		4,824
Financing Receivables:
Total financing receivables	866,880		863,163
Ending balance: individually evaluated for impairment	6,803		6,158
Ending balance: collectively evaluated for impairment	860,077		857,005
Residential land
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	1,738	1,671
Charge-offs	0	0
Recoveries	203	103
Provision	(462)	(34)
Valuation allowance, balance at the end of the period	1,479	1,740
Ending balance: individually evaluated for impairment	660		789
Ending balance: collectively evaluated for impairment	819		949
Financing Receivables:
Total financing receivables	16,888		18,889
Ending balance: individually evaluated for impairment	2,863		3,629
Ending balance: collectively evaluated for impairment	14,025		15,260
Commercial construction
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	6,449	4,461
Charge-offs	0	0
Recoveries	0	0
Provision	808	1,703
Valuation allowance, balance at the end of the period	7,257	6,164
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	7,257		6,449
Financing Receivables:
Total financing receivables	130,808		126,768
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	130,808		126,768
Residential construction
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	12	13
Charge-offs	0	0
Recoveries	0	0
Provision	(1)	(1)
Valuation allowance, balance at the end of the period	11	12
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	11		12
Financing Receivables:
Total financing receivables	13,694		16,080
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	13,694		16,080
Commercial loans
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	16,618	17,208
Charge-offs	(1,510)	(1,343)
Recoveries	297	135
Provision	(503)	991
Valuation allowance, balance at the end of the period	14,902	16,991
Ending balance: individually evaluated for impairment	1,318		1,641
Ending balance: collectively evaluated for impairment	13,584		14,977
Financing Receivables:
Total financing receivables	661,016		692,051
Ending balance: individually evaluated for impairment	9,175		20,539
Ending balance: collectively evaluated for impairment	651,841		671,512
Consumer loans
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	6,800	3,897
Charge-offs	(2,810)	(1,570)
Recoveries	297	210
Provision	3,359	1,311
Valuation allowance, balance at the end of the period	7,646	3,848
Ending balance: individually evaluated for impairment	34		6
Ending balance: collectively evaluated for impairment	7,612		6,794
Financing Receivables:
Total financing receivables	192,113		178,222
Ending balance: individually evaluated for impairment	69		10
Ending balance: collectively evaluated for impairment	192,044		178,212
Unallocated
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	0	0
Charge-offs	0	0
Recoveries	0	0
Provision	0	0
Valuation allowance, balance at the end of the period	0	$ 0
Ending balance: collectively evaluated for impairment	$ 0		$ 0

Bank segment - Credit risk pro

Bank segment - Credit risk profile - assigned grades (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Commercial real estate
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	$ 790,191	$ 800,395
Commercial real estate | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	669,117	701,657
Commercial real estate | Special mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	89,370	65,541
Commercial real estate | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	31,704	33,197
Commercial real estate | Doubtful
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	0	0
Commercial real estate | Loss
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	0	0
Commercial construction
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	130,808	126,768
Commercial construction | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	84,495	102,955
Commercial construction | Special mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	22,500	0
Commercial construction | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	23,813	23,813
Commercial construction | Doubtful
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	0	0
Commercial construction | Loss
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	0	0
Commercial loans
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	661,016	692,051
Commercial loans | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	605,256	614,139
Commercial loans | Special mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	22,568	25,229
Commercial loans | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	33,192	52,683
Commercial loans | Doubtful
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	0	0
Commercial loans | Loss
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	$ 0	$ 0

Bank segment - Credit risk p57

Bank segment - Credit risk profile - payment activity (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Credit risk profile based on payment activity for loans
Total past due	$ 19,716	$ 23,102
Current	4,710,076	4,720,517
Total financing receivables	4,729,792	4,743,619
Recorded Investment greater than 90 days and accruing	0	0
Residential 1-4 family
Credit risk profile based on payment activity for loans
Total past due	9,958	11,310
Current	2,048,244	2,036,741
Total financing receivables	2,058,202	2,048,051
Recorded Investment greater than 90 days and accruing	0	0
Commercial real estate
Credit risk profile based on payment activity for loans
Total past due	0	2,416
Current	790,191	797,979
Total financing receivables	790,191	800,395
Recorded Investment greater than 90 days and accruing	0	0
Home equity line of credit
Credit risk profile based on payment activity for loans
Total past due	2,697	2,986
Current	864,183	860,177
Total financing receivables	866,880	863,163
Recorded Investment greater than 90 days and accruing	0	0
Residential land
Credit risk profile based on payment activity for loans
Total past due	397	255
Current	16,491	18,634
Total financing receivables	16,888	18,889
Recorded Investment greater than 90 days and accruing	0	0
Commercial construction
Credit risk profile based on payment activity for loans
Total past due	0	0
Current	130,808	126,768
Total financing receivables	130,808	126,768
Recorded Investment greater than 90 days and accruing	0	0
Residential construction
Credit risk profile based on payment activity for loans
Total past due	0	0
Current	13,694	16,080
Total financing receivables	13,694	16,080
Recorded Investment greater than 90 days and accruing	0	0
Commercial loans
Credit risk profile based on payment activity for loans
Total past due	3,030	2,226
Current	657,986	689,825
Total financing receivables	661,016	692,051
Recorded Investment greater than 90 days and accruing	0	0
Consumer loans
Credit risk profile based on payment activity for loans
Total past due	3,634	3,909
Current	188,479	174,313
Total financing receivables	192,113	178,222
Recorded Investment greater than 90 days and accruing	0	0
30-59 days past due
Credit risk profile based on payment activity for loans
Total past due	7,215	11,504
30-59 days past due | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total past due	3,557	5,467
30-59 days past due | Commercial real estate
Credit risk profile based on payment activity for loans
Total past due	0	2,416
30-59 days past due | Home equity line of credit
Credit risk profile based on payment activity for loans
Total past due	594	1,263
30-59 days past due | Residential land
Credit risk profile based on payment activity for loans
Total past due	0	0
30-59 days past due | Commercial construction
Credit risk profile based on payment activity for loans
Total past due	0	0
30-59 days past due | Residential construction
Credit risk profile based on payment activity for loans
Total past due	0	0
30-59 days past due | Commercial loans
Credit risk profile based on payment activity for loans
Total past due	1,255	413
30-59 days past due | Consumer loans
Credit risk profile based on payment activity for loans
Total past due	1,809	1,945
60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	5,716	4,230
60-89 days past due | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total past due	2,982	2,338
60-89 days past due | Commercial real estate
Credit risk profile based on payment activity for loans
Total past due	0	0
60-89 days past due | Home equity line of credit
Credit risk profile based on payment activity for loans
Total past due	571	381
60-89 days past due | Residential land
Credit risk profile based on payment activity for loans
Total past due	318	0
60-89 days past due | Commercial construction
Credit risk profile based on payment activity for loans
Total past due	0	0
60-89 days past due | Residential construction
Credit risk profile based on payment activity for loans
Total past due	0	0
60-89 days past due | Commercial loans
Credit risk profile based on payment activity for loans
Total past due	928	510
60-89 days past due | Consumer loans
Credit risk profile based on payment activity for loans
Total past due	917	1,001
Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	6,785	7,368
Greater than 90 days | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total past due	3,419	3,505
Greater than 90 days | Commercial real estate
Credit risk profile based on payment activity for loans
Total past due	0	0
Greater than 90 days | Home equity line of credit
Credit risk profile based on payment activity for loans
Total past due	1,532	1,342
Greater than 90 days | Residential land
Credit risk profile based on payment activity for loans
Total past due	79	255
Greater than 90 days | Commercial construction
Credit risk profile based on payment activity for loans
Total past due	0	0
Greater than 90 days | Residential construction
Credit risk profile based on payment activity for loans
Total past due	0	0
Greater than 90 days | Commercial loans
Credit risk profile based on payment activity for loans
Total past due	847	1,303
Greater than 90 days | Consumer loans
Credit risk profile based on payment activity for loans
Total past due	$ 908	$ 963

Bank segment - Credit risk p58

Bank segment - Credit risk profile - summary (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Credit risk profile based on nonaccrual loans
Nonaccrual loans	$ 19,388	$ 23,325
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	29,401	37,637
Residential 1-4 family
Credit risk profile based on nonaccrual loans
Nonaccrual loans	11,709	11,154
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	13,661	14,450
Commercial real estate
Credit risk profile based on nonaccrual loans
Nonaccrual loans	218	223
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	1,297	1,346
Home equity line of credit
Credit risk profile based on nonaccrual loans
Nonaccrual loans	3,340	3,080
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	4,894	4,934
Residential land
Credit risk profile based on nonaccrual loans
Nonaccrual loans	695	878
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	2,246	2,751
Commercial construction
Credit risk profile based on nonaccrual loans
Nonaccrual loans	0	0
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	0	0
Residential construction
Credit risk profile based on nonaccrual loans
Nonaccrual loans	0	0
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	0	0
Commercial loans
Credit risk profile based on nonaccrual loans
Nonaccrual loans	2,016	6,708
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	7,234	14,146
Consumer loans
Credit risk profile based on nonaccrual loans
Nonaccrual loans	1,410	1,282
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	$ 69	$ 10

Bank segment - Principal balan

Bank segment - Principal balance of impaired loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Recorded investment:
With no related allowance recorded	$ 15,008		$ 18,811
With an allowance recorded	24,757		32,948
Recorded investment	39,765		51,759
Unpaid principal balance:
With no related allowance recorded	19,828		23,200
With an allowance recorded	24,976		33,205
Unpaid principal balance	44,804		56,405
Related Allowance	3,700		4,083
Average recorded investment:
With no related allowance recorded	17,643	$ 19,003
With an allowance recorded	25,284	36,177
Average recorded investment	42,927	55,180
Interest income recognized:
With no related allowance recorded	130	73
With an allowance recorded	620	246
Interest income recognized	750	319
Residential 1-4 family
Recorded investment:
With no related allowance recorded	9,145		9,571
With an allowance recorded	10,195		10,283
Recorded investment	19,340		19,854
Unpaid principal balance:
With no related allowance recorded	9,980		10,400
With an allowance recorded	10,398		10,486
Unpaid principal balance	20,378		20,886
Related Allowance	1,386		1,352
Average recorded investment:
With no related allowance recorded	9,555	10,392
With an allowance recorded	10,048	12,018
Average recorded investment	19,603	22,410
Interest income recognized:
With no related allowance recorded	84	51
With an allowance recorded	119	122
Interest income recognized	203	173
Commercial real estate
Recorded investment:
With no related allowance recorded	218		223
With an allowance recorded	1,297		1,346
Recorded investment	1,515		1,569
Unpaid principal balance:
With no related allowance recorded	227		228
With an allowance recorded	1,297		1,346
Unpaid principal balance	1,524		1,574
Related Allowance	74		80
Average recorded investment:
With no related allowance recorded	220	1,173
With an allowance recorded	1,300	854
Average recorded investment	1,520	2,027
Interest income recognized:
With no related allowance recorded	0	0
With an allowance recorded	14	0
Interest income recognized	14	0
Home equity line of credit
Recorded investment:
With no related allowance recorded	2,376		1,500
With an allowance recorded	4,427		4,658
Recorded investment	6,803		6,158
Unpaid principal balance:
With no related allowance recorded	2,829		1,900
With an allowance recorded	4,443		4,712
Unpaid principal balance	7,272		6,612
Related Allowance	228		215
Average recorded investment:
With no related allowance recorded	2,004	849
With an allowance recorded	4,562	2,944
Average recorded investment	6,566	3,793
Interest income recognized:
With no related allowance recorded	14	0
With an allowance recorded	49	27
Interest income recognized	63	27
Residential land
Recorded investment:
With no related allowance recorded	954		1,218
With an allowance recorded	1,909		2,411
Recorded investment	2,863		3,629
Unpaid principal balance:
With no related allowance recorded	1,401		1,803
With an allowance recorded	1,909		2,411
Unpaid principal balance	3,310		4,214
Related Allowance	660		789
Average recorded investment:
With no related allowance recorded	957	1,590
With an allowance recorded	2,076	3,378
Average recorded investment	3,033	4,968
Interest income recognized:
With no related allowance recorded	26	16
With an allowance recorded	37	67
Interest income recognized	63	83
Commercial construction
Recorded investment:
With no related allowance recorded	0		0
With an allowance recorded	0		0
Recorded investment	0		0
Unpaid principal balance:
With no related allowance recorded	0		0
With an allowance recorded	0		0
Unpaid principal balance	0		0
Related Allowance	0		0
Average recorded investment:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Average recorded investment	0	0
Interest income recognized:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Interest income recognized	0	0
Residential construction
Recorded investment:
With no related allowance recorded	0		0
With an allowance recorded	0		0
Recorded investment	0		0
Unpaid principal balance:
With no related allowance recorded	0		0
With an allowance recorded	0		0
Unpaid principal balance	0		0
Related Allowance	0		0
Average recorded investment:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Average recorded investment	0	0
Interest income recognized:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Interest income recognized	0	0
Commercial loans
Recorded investment:
With no related allowance recorded	2,315		6,299
With an allowance recorded	6,860		14,240
Recorded investment	9,175		20,539
Unpaid principal balance:
With no related allowance recorded	5,391		8,869
With an allowance recorded	6,860		14,240
Unpaid principal balance	12,251		23,109
Related Allowance	1,318		1,641
Average recorded investment:
With no related allowance recorded	4,907	4,999
With an allowance recorded	7,268	16,970
Average recorded investment	12,175	21,969
Interest income recognized:
With no related allowance recorded	6	6
With an allowance recorded	401	30
Interest income recognized	407	36
Consumer loans
Recorded investment:
With no related allowance recorded	0		0
With an allowance recorded	69		10
Recorded investment	69		10
Unpaid principal balance:
With no related allowance recorded	0		0
With an allowance recorded	69		10
Unpaid principal balance	69		10
Related Allowance	34		$ 6
Average recorded investment:
With no related allowance recorded	0	0
With an allowance recorded	30	13
Average recorded investment	30	13
Interest income recognized:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Interest income recognized	$ 0	$ 0

Bank segment - Troubled debt r

Bank segment - Troubled debt restructuring - narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Troubled debt restructurings real estate loans
Troubled debt restructurings
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	$ 2.1
Land loans
Troubled debt restructurings
Period of interest-only monthly payment term loan (in years)	3 years
Land loans | Maximum
Troubled debt restructurings
Extension of maturity date (in years)	5 years

Bank segment - Loan modificati

Bank segment - Loan modifications (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)contract	Mar. 31, 2016USD ($)contract	Dec. 31, 2016USD ($)
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment	$ 29,401		$ 37,637
Residential 1-4 family
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment	13,661		14,450
Commercial real estate
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment	1,297		1,346
Home equity line of credit
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment	4,894		4,934
Residential land
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment	2,246		2,751
Commercial construction
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment	0		0
Residential construction
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment	0		0
Commercial loans
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment	7,234		14,146
Consumer loans
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment	$ 69		$ 10
Troubled debt restructurings real estate loans
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	13	17
Pre-modification outstanding recorded investment	$ 1,139	$ 17,966
Post-modification outstanding recorded investment	1,133	18,084
Net increase in allowance	$ 106	$ 760
Troubled debt restructurings real estate loans | Residential 1-4 family
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	3	4
Pre-modification outstanding recorded investment	$ 512	$ 1,097
Post-modification outstanding recorded investment	520	1,215
Net increase in allowance	$ 45	$ 161
Troubled debt restructurings real estate loans | Commercial real estate
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	0	0
Pre-modification outstanding recorded investment	$ 0	$ 0
Post-modification outstanding recorded investment	0	0
Net increase in allowance	$ 0	$ 0
Troubled debt restructurings real estate loans | Home equity line of credit
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	8	10
Pre-modification outstanding recorded investment	$ 226	$ 669
Post-modification outstanding recorded investment	212	669
Net increase in allowance	$ 34	$ 74
Troubled debt restructurings real estate loans | Residential land
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	0	0
Pre-modification outstanding recorded investment	$ 0	$ 0
Post-modification outstanding recorded investment	0	0
Net increase in allowance	$ 0	$ 0
Troubled debt restructurings real estate loans | Commercial construction
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	0	0
Pre-modification outstanding recorded investment	$ 0	$ 0
Post-modification outstanding recorded investment	0	0
Net increase in allowance	$ 0	$ 0
Troubled debt restructurings real estate loans | Residential construction
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	0	0
Pre-modification outstanding recorded investment	$ 0	$ 0
Post-modification outstanding recorded investment	0	0
Net increase in allowance	$ 0	$ 0
Troubled debt restructurings real estate loans | Commercial loans
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	1	3
Pre-modification outstanding recorded investment	$ 342	$ 16,200
Post-modification outstanding recorded investment	342	16,200
Net increase in allowance	$ 0	$ 525
Troubled debt restructurings real estate loans | Consumer loans
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	1	0
Pre-modification outstanding recorded investment	$ 59	$ 0
Post-modification outstanding recorded investment	59	0
Net increase in allowance	$ 27	$ 0

Bank segment - Troubled debt62

Bank segment - Troubled debt restructuring that subsequently defaulted (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)contract	Mar. 31, 2016USD ($)contract
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	1	1
Recorded investment | $	$ 301	$ 488
Residential 1-4 family
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	1	1
Recorded investment | $	$ 301	$ 488
Commercial real estate
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	0	0
Recorded investment | $	$ 0	$ 0
Home equity line of credit
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	0	0
Recorded investment | $	$ 0	$ 0
Residential land
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	0	0
Recorded investment | $	$ 0	$ 0
Commercial construction
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	0	0
Recorded investment | $	$ 0	$ 0
Residential construction
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	0	0
Recorded investment | $	$ 0	$ 0
Commercial loans
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	0	0
Recorded investment | $	$ 0	$ 0
Consumer loans
Financing Receivable, Modifications [Line Items]
Number of contracts (in contracts) | contract	0	0
Recorded investment | $	$ 0	$ 0

Bank segment - Mortgage servic

Bank segment - Mortgage servicing rights (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Servicing Asset at Amortized Cost [Line Items]
Repurchase reserve				$ 100		$ 100
Valuation Allowance [Roll Forward]
Weighted average discount rate (as a percent)	2.658%
American Savings Bank (ASB)
Servicing Asset at Amortized Cost [Line Items]
Mortgage service fees	$ 800	$ 700
Movement in Mortgage Loans on Real Estate [Roll Forward]
Servicing asset - beginning balance	9,373
Servicing asset - ending balance	9,294		$ 9,373
American Savings Bank (ASB) | Mortgage Servicing Rights (MSR)
Servicing Asset at Amortized Cost [Line Items]
Gross carrying amount				17,707	$ 17,271
Accumulated amortization				(8,413)	(7,898)
Valuation allowance	0	0	0	0	0	0
Net carrying amount				9,294	9,373	$ 8,857
Movement in Mortgage Loans on Real Estate [Roll Forward]
Servicing asset - beginning balance	9,373	8,884	8,884
Amount capitalized	436	455
Amortization	(515)	(482)
Other-than-temporary impairment	0	0
Servicing asset - ending balance	9,294	8,857	9,373
Valuation Allowance [Roll Forward]
Valuation allowance, beginning balance	0	0	0
Provision (recovery)	0	0
Other-than-temporary impairment	0	0
Valuation allowance, ending balance	$ 0	0	$ 0
Unpaid principal balance				1,205,197	1,188,380
Weighted average note-rate (as a percent)	3.95%		3.96%
Weighted average discount rate (as a percent)	9.50%		9.40%
Weighted average prepayment speed (as a percent)	8.20%		8.50%
Prepayment rate - 25 points adverse rate change				(556)	(567)
Prepayment rate - 50 points adverse rate change				(1,144)	(1,154)
Discount rate - 25 points adverse rate change				(134)	(128)
Discount rate - 50 points adverse rate change				$ (266)	$ (254)
American Savings Bank (ASB) | Measurement Band A
Valuation Allowance [Roll Forward]
Measurement band percent for risk categorization	0.50%
American Savings Bank (ASB) | Measurement Band B
Valuation Allowance [Roll Forward]
Measurement band percent for risk categorization	1.00%
American Savings Bank (ASB) | Residential loan
Servicing Asset at Amortized Cost [Line Items]
Proceeds from sale of mortgage loans	$ 40,600	40,400
Gain on sale of mortgage loans	$ 800	$ 1,200

Bank segment - Repurchase Agre

Bank segment - Repurchase Agreements (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Offsetting Liabilities [Line Items]
Gross amount of recognized liabilities	$ 100	$ 93
Gross amount offset in the Balance Sheet	0	0
Securities sold under agreements to repurchase	100	93
Securities sold under agreements to repurchase collateral, financial instruments	119	116
Securities sold under agreements to repurchase, cash collateral pledged	0	0
Financial Institution
Offsetting Liabilities [Line Items]
Securities sold under agreements to repurchase	0	0
Securities sold under agreements to repurchase collateral, financial instruments	0	0
Securities sold under agreements to repurchase, cash collateral pledged	0	0
Government Entities
Offsetting Liabilities [Line Items]
Securities sold under agreements to repurchase	0	14
Securities sold under agreements to repurchase collateral, financial instruments	0	15
Securities sold under agreements to repurchase, cash collateral pledged	0	0
Commercial account holders
Offsetting Liabilities [Line Items]
Securities sold under agreements to repurchase	100	79
Securities sold under agreements to repurchase collateral, financial instruments	119	101
Securities sold under agreements to repurchase, cash collateral pledged	$ 0	$ 0

Bank segment - Derivatives (De

Bank segment - Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Derivative instrument
Net gains (losses) recognized in the Statement of Income	$ (31)	$ 108
Not designated as a hedging instrument
Derivative instrument
Asset derivative	317		$ 453
Liability derivative	104		209
Interest rate lock commitments
Derivative instrument
Notional amount	21,771		25,883
Fair value	317		421
Interest rate lock commitments | Not designated as a hedging instrument
Derivative instrument
Asset derivative	317		445
Liability derivative	0		24
Interest rate lock commitments | Not designated as a hedging instrument | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	(104)	271
Forward commitments
Derivative instrument
Notional amount	22,120		30,813
Fair value	(104)		(177)
Forward commitments | Not designated as a hedging instrument
Derivative instrument
Asset derivative	0		8
Liability derivative	104		$ 185
Forward commitments | Not designated as a hedging instrument | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	$ 73	$ (163)

Bank segment - Contingencies (

Bank segment - Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
American Savings Bank (ASB)
Loss Contingencies [Line Items]
Unfunded commitments to fund the company's LIHTC	$ 14.4	$ 14

Retirement benefits (Details)

Retirement benefits (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Defined benefit plans
Expected payments for remainder of fiscal year	$ 2,000,000
Payments for benefits			$ 2,000,000
Retirement benefits expense	$ 9,000,000	$ 9,000,000
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	$ 1,500,000	1,400,000
Cash contributions by the employer to defined contribution plan	2,900,000	2,700,000
Pension benefits
Defined benefit plans
Contributions made to defined benefit plans	17,000,000	16,000,000
Contributions expected to be paid in current year	67,000,000		65,000,000
Service cost	16,494,000	15,391,000
Interest cost	20,216,000	20,277,000
Expected return on plan assets	(25,721,000)	(24,664,000)
Amortization of net prior service loss (gain)	(14,000)	(14,000)
Amortization of net actuarial loss	6,513,000	5,969,000
Net periodic benefit cost	17,488,000	16,959,000
Impact of PUC D&Os	(5,156,000)	(4,046,000)
Net periodic benefit cost (adjusted for impact of PUC D&Os)	12,332,000	12,913,000
Pension benefits | American Savings Bank (ASB)
Defined benefit plans
Contributions expected to be paid in current year	0		0
Other benefits
Defined benefit plans
Service cost	840,000	836,000
Interest cost	2,411,000	2,474,000
Expected return on plan assets	(3,066,000)	(3,052,000)
Amortization of net prior service loss (gain)	(449,000)	(448,000)
Amortization of net actuarial loss	366,000	287,000
Net periodic benefit cost	102,000	97,000
Impact of PUC D&Os	146,000	189,000
Net periodic benefit cost (adjusted for impact of PUC D&Os)	248,000	286,000
Hawaiian Electric Company, Inc. and Subsidiaries
Defined benefit plans
Expected payments for remainder of fiscal year	1,000,000
Payments for benefits			1,000,000
Retirement benefits expense	8,000,000	8,000,000
Defined contribution plan, expenses recognized	500,000	400,000
Cash contributions by the employer to defined contribution plan	500,000	400,000
Hawaiian Electric Company, Inc. and Subsidiaries | Pension benefits
Defined benefit plans
Contributions made to defined benefit plans	17,000,000	16,000,000
Contributions expected to be paid in current year	66,000,000		64,000,000
Service cost	16,094,000	14,933,000
Interest cost	18,589,000	18,603,000
Expected return on plan assets	(24,011,000)	(22,932,000)
Amortization of net prior service loss (gain)	2,000	4,000
Amortization of net actuarial loss	6,006,000	5,461,000
Net periodic benefit cost	16,680,000	16,069,000
Impact of PUC D&Os	(5,156,000)	(4,046,000)
Net periodic benefit cost (adjusted for impact of PUC D&Os)	11,524,000	12,023,000
Hawaiian Electric Company, Inc. and Subsidiaries | Other benefits
Defined benefit plans
Service cost	835,000	822,000
Interest cost	2,327,000	2,389,000
Expected return on plan assets	(3,017,000)	(3,003,000)
Amortization of net prior service loss (gain)	(451,000)	(451,000)
Amortization of net actuarial loss	359,000	284,000
Net periodic benefit cost	53,000	41,000
Impact of PUC D&Os	146,000	189,000
Net periodic benefit cost (adjusted for impact of PUC D&Os)	199,000	$ 230,000
Hawaiian Electric Industries, Inc. | Pension benefits
Defined benefit plans
Contributions expected to be paid in current year	$ 1,000,000		$ 1,000,000

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($) $ in Millions	Mar. 01, 2014	Mar. 31, 2017	Mar. 31, 2016
Share-based compensation
Income tax benefit from compensation expense		$ 0.3	$ 0.3
Restricted stock units
Share-based compensation
Fair value measurement of vested units and related dividends		3.1	2.5
Income tax benefit from compensation expense		1.1	0.9
Unrecognized share based compensation		$ 6.1
Weighted average period for recognition of unrecognized compensation cost (in years)		3 years
Long-term Incentive Plan
Share-based compensation
Payment award, low end of range (as a percent)		0.00%
Payment award, high end of range (as a percent)		200.00%
Award performance period (in years)		3 years
LTIP linked to TRS
Share-based compensation
Fair value measurement of vested units and related dividends		$ 1.9
Unrecognized share based compensation		$ 1.3
Weighted average period for recognition of unrecognized compensation cost (in years)		2 years 9 months 18 days
Measurement period for total return to shareholders (in years)		3 years
Tax benefits related to awards vested		$ 0.7
LTIP awards linked to other performance conditions
Share-based compensation
Fair value measurement of vested units and related dividends		4.2	3.6
Income tax benefit from compensation expense		1.6	$ 1.4
Unrecognized share based compensation		$ 4.2
Weighted average period for recognition of unrecognized compensation cost (in years)		2 years 9 months 18 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)		3,300,000
Number of share issuable upon vesting and achievement of performance goals (in shares)		400,000
Nonemployee Director Stock Plan
Share-based compensation
Shares available for future grant (in shares)		120,428

Share-based compensation - Summ

Share-based compensation - Summary of income taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based compensation
Share-based compensation expense	$ 1.1	$ 1
Income tax benefit	0.3	0.3
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based compensation
Share-based compensation expense	0.5	0.3
Income tax benefit	$ 0.2	$ 0.1

Share-based compensation - 2011

Share-based compensation - 2011 Director Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based compensation
Income tax benefit from compensation expense	$ 300	$ 300
Common stock
Share-based compensation
Shares granted (in shares)	770
Fair value measurement of shares granted and vested	$ 25
Income tax benefit from compensation expense	$ 10

Share-based compensation - Su71

Share-based compensation - Summary of changes in share based compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restricted stock units
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	220,683	210,634
Granted (in shares)	96,977	94,282
Vested (in shares)	(81,624)	(78,379)
Forfeited (in shares)	0	0
Outstanding, end of period (in shares)	236,036	226,537
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 29.57	$ 28.82
Granted (in dollars per share)	33.48	29.90
Vested (in dollars per share)	28.85	27.92
Forfeited (in dollars per share)	0	0
Outstanding, end of period (in dollars per share)	$ 31.42	$ 29.59
Total weighted-average grant-date fair value	$ 3.2	$ 2.8
LTIP linked to TRS
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	83,106	162,500
Granted (in shares)	36,971	0
Vested (in shares)	(83,106)	(78,553)
Forfeited (in shares)	0	0
Outstanding, end of period (in shares)	36,971	83,947
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 22.95	$ 27.66
Granted (in dollars per share)	39.51	0
Vested (in dollars per share)	22.95	32.69
Forfeited (in dollars per share)	0	0
Outstanding, end of period (in dollars per share)	$ 39.51	$ 22.95
Total weighted-average grant-date fair value	$ 1.5	$ 0
LTIP awards linked to other performance conditions
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	109,816	222,647
Granted (in shares)	147,888	0
Vested (in shares)	(109,816)	(109,097)
Forfeited (in shares)	0	0
Outstanding, end of period (in shares)	147,888	113,550
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 25.18	$ 26.02
Granted (in dollars per share)	33.48	0
Vested (in dollars per share)	25.18	26.89
Forfeited (in dollars per share)	0	0
Outstanding, end of period (in dollars per share)	$ 33.48	$ 25.18
Total weighted-average grant-date fair value	$ 5	$ 0

Share-based compensation - Fair

Share-based compensation - Fair value assumptions (Details) - LTIP linked to TRS	3 Months Ended
	Mar. 31, 2017$ / shares
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Risk-free interest rate (as a percent)	1.46%
Expected life (in years)	3 years
Expected volatility (as a percent)	20.10%
Range of expected volatility for Peer Group, minimum (as a percent)	15.40%
Range of expected volatility for Peer Group, maximum (as a percent)	26.00%
Grant date fair value (in dollars per share)	$ 39.51

Shareholders' equity - Accumula

Shareholders' equity - Accumulated other comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	$ 2,066,753	$ 1,927,640
Current period other comprehensive income	985	8,800
Ending Balance	2,065,588	1,942,179
AOCI
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	(33,129)	(26,262)
Current period other comprehensive income	985	8,800
Ending Balance	(32,144)	(17,462)
Net unrealized gains (losses) on securities
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	(7,931)	(1,872)
Current period other comprehensive income	223	7,428
Ending Balance	(7,708)	5,556
Unrealized gains (losses) on derivatives
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	(454)	(54)
Current period other comprehensive income	454	1,056
Ending Balance	0	1,002
Retirement benefit plans
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	(24,744)	(24,336)
Current period other comprehensive income	308	316
Ending Balance	(24,436)	(24,020)
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	1,799,787	1,728,325
Current period other comprehensive income	459	1,016
Ending Balance	1,799,769	1,731,304
Hawaiian Electric Company, Inc. and Subsidiaries | AOCI
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	(322)	925
Current period other comprehensive income	459	1,016
Ending Balance	137	1,941
Hawaiian Electric Company, Inc. and Subsidiaries | Unrealized gains (losses) on derivatives
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	(454)	0
Current period other comprehensive income	454	1,002
Ending Balance	0	1,002
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	132	925
Current period other comprehensive income	5	14
Ending Balance	$ 137	$ 939

Shareholders' equity - Reclassi

Shareholders' equity - Reclassification out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Reclassifications out of accumulated other comprehensive income/(loss)
Total revenues	$ 591,562	$ 550,960
Interest expense	19,568	20,126
Total reclassifications	762	369
Electric utility
Reclassifications out of accumulated other comprehensive income/(loss)
Total revenues	518,611	482,052
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total revenues	518,611	482,052
Total reclassifications	459	14
Unrealized gains (losses) on derivatives | Interest rate contracts
Reclassifications out of accumulated other comprehensive income/(loss)
Interest expense	0	54
Unrealized gains (losses) on derivatives | Electric utility | Forward commitments
Reclassifications out of accumulated other comprehensive income/(loss)
Total revenues	454	0
Unrealized gains (losses) on derivatives | Hawaiian Electric Company, Inc. and Subsidiaries | Electric utility | Forward commitments
Reclassifications out of accumulated other comprehensive income/(loss)
Total revenues	454	0
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	3,921	3,537
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost | Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	3,618	3,236
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	3,613	3,222
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets | Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	$ 3,613	$ 3,222

Fair value measurements - Summa

Fair value measurements - Summary of financial assets and liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Financial assets
Available-for-sale investment securities	$ 1,228,922	$ 1,105,182
Financial liabilities
Short-term borrowings—other than bank	2,300	0
Other bank borrowings	200,154	192,618
Carrying or notional amount
Financial assets
Money market funds	6	13,085
Available-for-sale investment securities	1,228,922	1,105,182
Stock in Federal Home Loan Bank	11,706	11,218
Loans receivable, net	4,679,728	4,701,977
Mortgage-servicing rights	9,294	9,373
Bank-owned life insurance	144,661	143,197
Derivative assets	22,986	23,578
Financial liabilities
Deposit liabilities	5,675,090	5,548,929
Short-term borrowings—other than bank	2,300	0
Other bank borrowings	200,154	192,618
Long-term debt, net	1,618,651	1,619,019
Derivative liabilities	36,743	53,852
Carrying or notional amount | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,318,871	1,319,260
Derivative liabilities	15,838	20,734
Short-term borrowings	1,500
Estimated fair value
Financial assets
Money market funds	6	13,085
Available-for-sale investment securities	1,228,922	1,105,182
Stock in Federal Home Loan Bank	11,706	11,218
Loans receivable, net	4,826,980	4,852,826
Mortgage-servicing rights	13,650	13,216
Bank-owned life insurance	144,661	143,197
Derivative assets	317	453
Financial liabilities
Deposit liabilities	5,671,729	5,546,644
Short-term borrowings—other than bank	2,300	0
Other bank borrowings	201,000	193,991
Long-term debt, net	1,707,954	1,704,717
Derivative liabilities	381	952
Estimated fair value | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,402,690	1,399,490
Derivative liabilities	277	743
Short-term borrowings	1,500
Estimated fair value | Level 1
Financial assets
Money market funds	0	0
Available-for-sale investment securities	0	0
Stock in Federal Home Loan Bank	0	0
Loans receivable, net	0	0
Mortgage-servicing rights	0	0
Bank-owned life insurance	0	0
Derivative assets	0	0
Financial liabilities
Deposit liabilities	0	0
Short-term borrowings—other than bank	0	0
Other bank borrowings	0	0
Long-term debt, net	0	0
Derivative liabilities	98	129
Estimated fair value | Level 1 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	0	0
Derivative liabilities	0	0
Short-term borrowings	0
Estimated fair value | Level 2
Financial assets
Money market funds	6	13,085
Available-for-sale investment securities	1,213,495	1,089,755
Stock in Federal Home Loan Bank	11,706	11,218
Loans receivable, net	10,881	13,333
Mortgage-servicing rights	0	0
Bank-owned life insurance	144,661	143,197
Derivative assets	317	453
Financial liabilities
Deposit liabilities	5,671,729	5,546,644
Short-term borrowings—other than bank	2,300	0
Other bank borrowings	201,000	193,991
Long-term debt, net	1,707,954	1,704,717
Derivative liabilities	283	823
Estimated fair value | Level 2 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,402,690	1,399,490
Derivative liabilities	277	743
Short-term borrowings	1,500
Estimated fair value | Level 3
Financial assets
Money market funds	0	0
Available-for-sale investment securities	15,427	15,427
Stock in Federal Home Loan Bank	0	0
Loans receivable, net	4,816,099	4,839,493
Mortgage-servicing rights	13,650	13,216
Bank-owned life insurance	0	0
Derivative assets	0	0
Financial liabilities
Deposit liabilities	0	0
Short-term borrowings—other than bank	0	0
Other bank borrowings	0	0
Long-term debt, net	0	0
Derivative liabilities	0	0
Estimated fair value | Level 3 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	0	0
Derivative liabilities	0	$ 0
Short-term borrowings	$ 0

Fair value measurements - Asset

Fair value measurements - Assets and liabilities measured on a recurring basis (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Fair value measurements on a recurring basis
Available-for-sale investment securities	$ 1,228,922,000	$ 1,105,182,000
Mortgage revenue bond
Fair value measurements on a recurring basis
Available-for-sale investment securities	15,427,000	15,427,000
Estimated fair value
Fair value measurements on a recurring basis
Money market funds	6,000	13,085,000
Available-for-sale investment securities	1,228,922,000	1,105,182,000
Derivative assets
Derivative assets	317,000	453,000
Derivative liabilities
Derivative liabilities	381,000	952,000
Loans	4,826,980,000	4,852,826,000
Level 1 | Estimated fair value
Fair value measurements on a recurring basis
Money market funds	0	0
Available-for-sale investment securities	0	0
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	98,000	129,000
Loans	0	0
Level 2 | Estimated fair value
Fair value measurements on a recurring basis
Money market funds	6,000	13,085,000
Available-for-sale investment securities	1,213,495,000	1,089,755,000
Derivative assets
Derivative assets	317,000	453,000
Derivative liabilities
Derivative liabilities	283,000	823,000
Loans	10,881,000	13,333,000
Level 3 | Estimated fair value
Fair value measurements on a recurring basis
Money market funds	0	0
Available-for-sale investment securities	15,427,000	15,427,000
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Loans	4,816,099,000	4,839,493,000
Fair value measurements on a recurring basis | Level 1
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	98,000	129,000
Fair value measurements on a recurring basis | Level 1 | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 1 | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	98,000	129,000
Fair value measurements on a recurring basis | Level 1 | Window forward contract
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 1 | Other
Fair value measurements on a recurring basis
Money market funds	0	0
Fair value measurements on a recurring basis | Level 1 | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | Mortgage-related securities - FNMA, FHLMC and GNMA | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | U.S. Treasury 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 | Level 1 | Mortgage revenue bond | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 2
Derivative assets
Derivative assets	317,000	453,000
Derivative liabilities
Derivative liabilities	283,000	823,000
Fair value measurements on a recurring basis | Level 2 | Interest rate lock commitments
Derivative assets
Derivative assets	317,000	445,000
Derivative liabilities
Derivative liabilities	0	24,000
Fair value measurements on a recurring basis | Level 2 | Forward commitments
Derivative assets
Derivative assets	0	8,000
Derivative liabilities
Derivative liabilities	6,000	56,000
Fair value measurements on a recurring basis | Level 2 | Window forward contract
Derivative liabilities
Derivative liabilities	277,000	743,000
Fair value measurements on a recurring basis | Level 2 | Other
Fair value measurements on a recurring basis
Money market funds	6,000	13,085,000
Fair value measurements on a recurring basis | Level 2 | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	1,213,495,000	1,089,755,000
Fair value measurements on a recurring basis | Level 2 | Mortgage-related securities - FNMA, FHLMC and GNMA | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	1,025,138,000	897,474,000
Fair value measurements on a recurring basis | Level 2 | U.S. Treasury federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	188,357,000	192,281,000
Fair value measurements on a recurring basis | Level 2 | Mortgage revenue bond | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Window forward contract
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Other
Fair value measurements on a recurring basis
Money market funds	0	0
Fair value measurements on a recurring basis | Level 3 | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	15,427,000	15,427,000
Fair value measurements on a recurring basis | Level 3 | Mortgage-related securities - FNMA, FHLMC and GNMA | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3 | U.S. Treasury 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 | Level 3 | Mortgage revenue bond | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	15,427,000	15,427,000
Fair value measurements on a nonrecurring basis | American Savings Bank (ASB)
Derivative liabilities
Adjustments to fair value of loans held for sale	0		$ 0
Fair value measurements on a nonrecurring basis | Estimated fair value
Derivative liabilities
Loans	1,281,000	2,767,000
Real estate acquired in settlement of loans		1,189,000
Fair value measurements on a nonrecurring basis | Level 1
Derivative liabilities
Loans	0	0
Real estate acquired in settlement of loans		0
Fair value measurements on a nonrecurring basis | Level 2
Derivative liabilities
Loans	0	0
Real estate acquired in settlement of loans		0
Fair value measurements on a nonrecurring basis | Level 3
Derivative liabilities
Loans	$ 1,281,000	2,767,000
Real estate acquired in settlement of loans		$ 1,189,000

Fair value measurements - Addit

Fair value measurements - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Weighted average discount rate (as a percent)	2.658%
Mortgage revenue bond
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, January 1	$ 15,427	$ 0	$ 0
Principal payments received	0	0
Purchases	0	0
Unrealized gain (loss) included in other comprehensive income	0	0
Balance, March 31	15,427	$ 0	$ 15,427
American Savings Bank (ASB)
Fair value measurements on a recurring basis
Loans receivable transferred out of Level 3 measurement during period	$ 6,100

Fair value measurements - Sum78

Fair value measurements - Summary of Level 3 financial instruments (Details) - Fair Value, Inputs, Level 3 - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Fair value measurements
Fair value	$ 1,281	$ 2,767
Fair value of property or collateral | Residential loan
Fair value measurements
Fair value	$ 222	$ 287
Appraised value, selling cost (as a percent)	7.00%	7.00%
Appraised value, weighted average rate (as a percent)		61.00%
Fair value of property or collateral | Residential loan | Minimum
Fair value measurements
Appraised value (as a percent)		42.00%
Fair value of property or collateral | Residential loan | Maximum
Fair value measurements
Appraised value (as a percent)		65.00%
Fair value of property or collateral | Commercial loans
Fair value measurements
Fair value	$ 249
Fair value of property or collateral | Home equity line of credit
Fair value measurements
Fair value		$ 12
Appraised value, selling cost (as a percent)		7.00%
Fair value of property or collateral | Real estate acquired in settlement of loans
Fair value measurements
Fair value		$ 1,189
Appraised value, selling cost (as a percent)		7.00%
Appraised value (as a percent)		100.00%
Appraised value, weighted average rate (as a percent)		100.00%
Sales price | Residential loan
Fair value measurements
Fair value		$ 2,468
Appraised value, weighted average rate (as a percent)		97.00%
Sales price | Residential loan | Minimum
Fair value measurements
Appraised value (as a percent)		95.00%
Sales price | Residential loan | Maximum
Fair value measurements
Appraised value (as a percent)		100.00%
Sales price | Commercial loans
Fair value measurements
Fair value	$ 810

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Supplemental disclosures of cash flow information
Interest paid to non-affiliates	$ 19,000	$ 20,000
Income taxes paid (including refundable credits)	4,000	1,000
Income taxes refunded (including refundable credits)	0	45,000
Supplemental disclosures of noncash activities
Common stock dividends reinvested in HEI common stock (financing)	0	6,000
Loans transferred from held for investment to held for sale (investing)	9,000	0
Common stock issued (gross) for director and executive/management compensation (financing)	9,000	6,000
Obligations to fund low income housing investments (operating)	1,000	0
AFUDC-equity (operating)	2,399	1,739
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid to non-affiliates	13,000	12,000
Income taxes paid (including refundable credits)	2,000	0
Income taxes refunded (including refundable credits)	0	20,000
Supplemental disclosures of noncash activities
AFUDC-equity (operating)	2,399	1,739
Estimated fair value of noncash contributions in aid of construction (investing)	0	1,000
Change in unpaid invoices and accruals (investing)	$ (52,000)	$ (48,000)

Credit agreements (Details)

Credit agreements (Details)	Apr. 02, 2014USD ($)Institution	Jan. 31, 2015	Mar. 31, 2017	Apr. 01, 2014USD ($)
Credit agreement
Number of financial institutions (in institutions) | Institution	9
Actual capitalization ratio (as a percent)			13.00%
Ratio of consolidated subsidiary debt to total consolidated capitalization required to be maintained as per the debt covenant (as a percent)	65.00%
Ratio of consolidated capitalization required to be maintained as per the debt covenant (as a percent)	35.00%
Actual ratio of consolidated debt to total consolidated capitalization (as a percent)			57.00%
Hawaiian Electric Company
Credit agreement
Number of financial institutions (in institutions) | Institution	9
HELCO
Credit agreement
Actual ratio of consolidated subsidiary debt to total consolidated capitalization (as a percent)			42.00%
Maui Electric
Credit agreement
Actual ratio of consolidated subsidiary debt to total consolidated capitalization (as a percent)			42.00%
Maximum
Credit agreement
Capitalization ratio required to be maintained as per the debt covenant (as a percent)	50.00%
Line of credit facility
Credit agreement
Revolving noncollateralized credit facility with a letter of credit sub-facility | $	$ 150,000,000			$ 125,000,000
Unused capacity commitment fee (as a percent)	0.20%
Line of credit facility | Hawaiian Electric Company
Credit agreement
Revolving noncollateralized credit facility with a letter of credit sub-facility | $	$ 200,000,000			$ 175,000,000
Unused capacity commitment fee (as a percent)		0.20%
Line of credit facility | Adjusted LIBOR Rate
Credit agreement
Basis spread on variable rate (as a percent)	1.375%
Line of credit facility | Adjusted LIBOR Rate | Hawaiian Electric Company
Credit agreement
Basis spread on variable rate (as a percent)		1.375%

Related party transactions (Det

Related party transactions (Details) - Affiliated Entity - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Hawaiian Electric Company, Inc. and Subsidiaries
Related Party Transaction [Line Items]
General management and administrative services from related parties	$ 1.4	$ 2.1
Hawaii Medical Service Association (HMSA) | HMSA costs
Related Party Transaction [Line Items]
Expenses from transactions with related party	7	7
Hawaii Medical Service Association (HMSA) | HMSA expense
Related Party Transaction [Line Items]
Expenses from transactions with related party	5	5
Hawaii Dental Service (HDS) | HDS costs
Related Party Transaction [Line Items]
Expenses from transactions with related party	1	1
Hawaii Dental Service (HDS) | HDS expense
Related Party Transaction [Line Items]
Expenses from transactions with related party	1	1
Hawaiian Electric Company, Inc. and Subsidiaries | Hawaii Medical Service Association (HMSA) | HMSA costs
Related Party Transaction [Line Items]
Expenses from transactions with related party	6	6
Hawaiian Electric Company, Inc. and Subsidiaries | Hawaii Medical Service Association (HMSA) | HMSA expense
Related Party Transaction [Line Items]
Expenses from transactions with related party	4	3
Hawaiian Electric Company, Inc. and Subsidiaries | Hawaii Dental Service (HDS) | HDS costs
Related Party Transaction [Line Items]
Expenses from transactions with related party	1	1
Hawaiian Electric Company, Inc. and Subsidiaries | Hawaii Dental Service (HDS) | HDS expense
Related Party Transaction [Line Items]
Expenses from transactions with related party	$ 0	$ 0