Hawaiian Electric Company, Inc. PFD C 4.25% (HAWEN) 10-Q 8 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Jul. 25, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity Registrant Name	HAWAIIAN ELECTRIC INDUSTRIES, INC.
Entity File Number	1-8503
Entity Tax Identification Number	99-0208097
Entity Incorporation, State or Country Code	HI
Entity Address, Address Line One	1001 Bishop Street, Suite 2900
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-5662
Title of each class	Common Stock, Without Par Value
Trading Symbol(s)	HE
Name of each exchange on which registered	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		109,469,093
Entity Central Index Key	0000354707
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Hawaiian Electric Company, Inc. and Subsidiaries
Entity Information [Line Items]
Document Type	10-Q
Entity Registrant Name	HAWAIIAN ELECTRIC COMPANY, INC.
Entity File Number	1-4955
Entity Tax Identification Number	99-0040500
Entity Incorporation, State or Country Code	HI
Entity Address, Address Line One	1001 Bishop Street, Suite, 2500
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-7771
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		17,753,533
Entity Central Index Key	0000046207
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Revenues	$ 895,607	$ 680,257	$ 1,680,675	$ 1,323,203
Expenses
Total expenses	808,939	578,401	1,494,731	1,123,316
Operating income (loss)
Total operating income	86,668	101,856	185,944	199,887
Retirement defined benefits credit—other than service costs	1,246	1,216	2,489	3,651
Interest expense, net—other than on deposit liabilities and other bank borrowings	(24,965)	(23,317)	(49,314)	(47,053)
Allowance for borrowed funds used during construction	798	812	1,576	1,559
Allowance for equity funds used during construction	2,470	2,377	4,879	4,568
Gain on sales of investment securities, net and equity-method investment	0	0	8,123	528
Income before income taxes	66,217	82,944	153,697	163,140
Income taxes	13,203	18,599	31,043	33,964
Net income attributable to Hawaiian Electric	53,014	64,345	122,654	129,176
Preferred stock dividends of subsidiaries	473	473	946	946
Net income for common stock	$ 52,541	$ 63,872	$ 121,708	$ 128,230
Basic earnings per common share (in dollars per share)	$ 0.48	$ 0.58	$ 1.11	$ 1.17
Diluted earnings per common share (in dollars per share)	$ 0.48	$ 0.58	$ 1.11	$ 1.17
Weighted-average number of common shares outstanding (in shares)	109,432	109,282	109,397	109,252
Net effect of potentially dilutive shares (in shares)	230	233	317	305
Weighted-average shares assuming dilution (in shares)	109,662	109,515	109,714	109,557
Electric utility
Revenues
Revenues	$ 818,873	$ 601,879	$ 1,527,665	$ 1,166,743
Expenses
Total expenses	747,719	534,195	1,382,916	1,029,945
Operating income (loss)
Total operating income	71,154	67,684	144,749	136,798
Income before income taxes	56,613	53,898	116,059	108,988
Income taxes	11,979	11,498	24,517	22,731
Net income attributable to Hawaiian Electric	44,634	42,400	91,542	86,257
Preferred stock dividends of subsidiaries	499	499	998	998
Net income for common stock	44,135	41,901	90,544	85,259
Bank
Revenues
Revenues	75,324	77,260	150,439	154,391
Expenses
Total expenses	53,401	37,454	98,486	79,289
Operating income (loss)
Total operating income	21,923	39,806	51,953	75,102
Income before income taxes	22,109	39,992	52,324	77,094
Income taxes	4,643	9,708	10,988	17,254
Net income attributable to Hawaiian Electric	17,466	30,284	41,336	59,840
Preferred stock dividends of subsidiaries	0	0	0	0
Net income for common stock	17,466	30,284	41,336	59,840
Other
Revenues
Revenues	1,410	1,118	2,571	2,069
Expenses
Total expenses	7,819	6,752	13,329	14,082
Operating income (loss)
Total operating income	(6,409)	(5,634)	(10,758)	(12,013)
Income before income taxes	(12,505)	(10,946)	(14,686)	(22,942)
Income taxes	(3,419)	(2,607)	(4,462)	(6,021)
Net income attributable to Hawaiian Electric	(9,086)	(8,339)	(10,224)	(16,921)
Preferred stock dividends of subsidiaries	(26)	(26)	(52)	(52)
Net income for common stock	$ (9,060)	$ (8,313)	$ (10,172)	$ (16,869)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income for common stock	$ 52,541	$ 63,872	$ 121,708	$ 128,230
Net unrealized gains (losses) on available-for-sale investment securities:
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, net of taxes of $(32,529), $6,214, $(76,608) and $(10,402), respectively	(88,857)	16,976	(209,264)	(28,414)
Reclassification adjustment for net realized gains included in net income, net of taxes of nil, nil, nil and $(142), respectively	0	0	0	(387)
Derivatives qualifying as cash flow hedges:
Unrealized interest rate hedging gains (losses) arising during the period, net of taxes of $273, $(243), $1,319 and $299, respectively	786	(701)	3,803	861
Reclassification adjustment for net realized losses included in net income, net of taxes of $18, nil, $37 and nil, respectively	53	0	108	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 taxes of $(2), $2,028, $1,516 and $4,055, respectively	122	6,008	4,623	12,018
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $19, $(2,016), $(1,481) and $(4,031), respectively	56	(5,811)	(4,269)	(11,622)
Other comprehensive income (loss), net of taxes	(87,840)	16,472	(204,999)	(27,544)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ (35,299)	$ 80,344	$ (83,291)	$ 100,686

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net unrealized gains (losses) on available-for-sale investment securities:
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, tax	$ (32,529)	$ 6,214	$ (76,608)	$ (10,402)
Reclassification adjustment for net realized gains included in net income, tax	0	0	0	(142)
Derivatives qualifying as cash flow hedges:
Unrealized interest rate hedging arising during the period, tax	273	(243)	1,319	299
Reclassification adjustment for net unrealized losses included in net income, tax	18	0	37	0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	44	2,086	1,606	4,170
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	$ 19	$ (2,016)	$ (1,481)	$ (4,031)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 159,672	$ 305,551
Restricted cash	5,386	5,911
Accounts receivable and unbilled revenues, net	457,470	344,213
Available-for-sale investment securities, at fair value	2,444,267	2,574,618
Held-to-maturity investment securities, at amortized cost	513,767	522,270
Stock in Federal Home Loan Bank, at cost	13,200	10,000
Loans held for investment, net	5,357,539	5,139,984
Loans held for sale, at lower of cost or fair value	3,738	10,404
Property, plant and equipment, net of accumulated depreciation	5,429,420	5,392,068
Operating lease right-of-use assets	120,600	122,416
Regulatory assets	530,900	565,543
Other	883,594	747,469
Goodwill	82,190	82,190
Total assets	16,001,743	15,822,637
Liabilities
Accounts payable	244,239	205,544
Interest and dividends payable	20,661	19,889
Deposit liabilities	8,253,536	8,172,212
Short-term borrowings—other than bank	124,017	53,998
Other bank borrowings	241,610	88,305
Long-term debt, net—other than bank	2,374,500	2,321,937
Deferred income taxes	302,346	384,760
Operating lease liabilities	136,445	136,760
Regulatory liabilities	1,008,075	996,768
Defined benefit pension and other postretirement benefit plans liability	341,535	348,072
Other	686,982	669,215
Total liabilities	13,733,946	13,397,460
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293	34,293
Commitments and contingencies (Notes 3 and 4)
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: 109,466,829 shares and 109,311,785 shares at June 30, 2022 and December 31, 2021, respectively	1,688,009	1,685,496
Retained earnings	803,027	757,921
Accumulated other comprehensive loss, net of tax benefits	(257,532)	(52,533)
Total shareholders’ equity	2,233,504	2,390,884
Total liabilities and shareholders’ equity	$ 16,001,743	$ 15,822,637

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Property, plant and equipment, accumulated depreciation	$ 3,122,324	$ 3,028,130
Shareholders’ equity
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized shares (in shares)	10,000,000	10,000,000
Preferred stock, issued shares (in shares)	0	0
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, issued shares (in shares)	109,466,829	109,311,785
Common stock, outstanding shares (in shares)	109,466,829	109,311,785

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common stock	Retained earnings	Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2020		109,181,000
Beginning balance at Dec. 31, 2020	$ 2,337,502	$ 1,678,368	$ 660,398	$ (1,264)
Increase (decrease) in stockholders' equity
Net income for common stock	64,358		64,358
Other comprehensive income (loss), net of tax benefits	(44,016)			(44,016)
Share-based expenses and other, net (in shares)		100,000
Share-based expenses and other, net	605	$ 605
Common stock dividends	(37,156)		(37,156)
Ending balance (in shares) at Mar. 31, 2021		109,281,000
Ending balance at Mar. 31, 2021	2,321,293	$ 1,678,973	687,600	(45,280)
Beginning balance (in shares) at Dec. 31, 2020		109,181,000
Beginning balance at Dec. 31, 2020	2,337,502	$ 1,678,368	660,398	(1,264)
Increase (decrease) in stockholders' equity
Net income for common stock	128,230
Other comprehensive income (loss), net of tax benefits	(27,544)
Ending balance (in shares) at Jun. 30, 2021		109,311,000
Ending balance at Jun. 30, 2021	2,367,329	$ 1,681,820	714,317	(28,808)
Beginning balance (in shares) at Mar. 31, 2021		109,281,000
Beginning balance at Mar. 31, 2021	2,321,293	$ 1,678,973	687,600	(45,280)
Increase (decrease) in stockholders' equity
Net income for common stock	63,872		63,872
Other comprehensive income (loss), net of tax benefits	16,472			16,472
Share-based expenses and other, net (in shares)		30,000
Share-based expenses and other, net	2,847	$ 2,847
Common stock dividends	(37,155)		(37,155)
Ending balance (in shares) at Jun. 30, 2021		109,311,000
Ending balance at Jun. 30, 2021	$ 2,367,329	$ 1,681,820	714,317	(28,808)
Beginning balance (in shares) at Dec. 31, 2021	109,311,785	109,312,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	$ 1,685,496	757,921	(52,533)
Increase (decrease) in stockholders' equity
Net income for common stock	69,167		69,167
Other comprehensive income (loss), net of tax benefits	(117,159)			(117,159)
Share-based expenses and other, net (in shares)		119,000
Share-based expenses and other, net	(949)	$ (949)
Common stock dividends	(38,301)		(38,301)
Ending balance (in shares) at Mar. 31, 2022		109,431,000
Ending balance at Mar. 31, 2022	$ 2,303,642	$ 1,684,547	788,787	(169,692)
Beginning balance (in shares) at Dec. 31, 2021	109,311,785	109,312,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	$ 1,685,496	757,921	(52,533)
Increase (decrease) in stockholders' equity
Net income for common stock	121,708
Other comprehensive income (loss), net of tax benefits	$ (204,999)
Ending balance (in shares) at Jun. 30, 2022	109,466,829	109,467,000
Ending balance at Jun. 30, 2022	$ 2,233,504	$ 1,688,009	803,027	(257,532)
Beginning balance (in shares) at Mar. 31, 2022		109,431,000
Beginning balance at Mar. 31, 2022	2,303,642	$ 1,684,547	788,787	(169,692)
Increase (decrease) in stockholders' equity
Net income for common stock	52,541		52,541
Other comprehensive income (loss), net of tax benefits	(87,840)			(87,840)
Share-based expenses and other, net (in shares)		36,000
Share-based expenses and other, net	3,462	$ 3,462
Common stock dividends	$ (38,301)		(38,301)
Ending balance (in shares) at Jun. 30, 2022	109,466,829	109,467,000
Ending balance at Jun. 30, 2022	$ 2,233,504	$ 1,688,009	$ 803,027	$ (257,532)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.35	$ 0.35	$ 0.34	$ 0.34

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net income	$ 122,654	$ 129,176
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	126,112	122,921
Other amortization	19,134	17,896
Provision for credit losses	(506)	(20,642)
Loans originated, held for sale	(108,695)	(239,761)
Proceeds from sale of loans, held for sale	114,299	266,497
Gain on sales of investment securities, net and equity-method investment	(8,123)	(528)
Gain on sale of loans, net	(1,449)	(6,225)
Deferred income taxes	(14,683)	(7,355)
Share-based compensation expense	5,593	5,454
Allowance for equity funds used during construction	(4,879)	(4,568)
Other	(3,858)	(5,037)
Changes in assets and liabilities
Increase in accounts receivable and unbilled revenues, net	(101,641)	(41,884)
Increase in fuel oil stock	(119,890)	(43,681)
Decrease (increase) in regulatory assets	12,956	(17,731)
Increase in regulatory liabilities	11,288	5,824
Increase in accounts, interest and dividends payable	62,115	2,683
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	22,173	(1,818)
Decrease in defined benefit pension and other postretirement benefit plans liability	(2,698)	(3,834)
Change in other assets and liabilities	(55,260)	(39,800)
Net cash provided by operating activities	74,642	117,587
Cash flows from investing activities
Available-for-sale investment securities purchased	(366,177)	(1,101,289)
Principal repayments on available-for-sale investment securities	209,094	320,597
Proceeds from sale of available-for-sale investment securities	0	197,354
Purchases of held-to-maturity investment securities	0	(187,172)
Proceeds from repayments or maturities of held-to-maturity investment securities	7,932	38,401
Purchase of stock from Federal Home Loan Bank	(18,720)	(32,780)
Redemption of stock from Federal Home Loan Bank	15,520	31,460
Net decrease (increase) in loans held for investment	(212,744)	91,686
Proceeds from sale of residential loans	0	17,398
Capital expenditures	(147,749)	(148,414)
Contributions to low income housing investments	0	(6,478)
Other	15,813	7,805
Net cash used in investing activities	(497,031)	(771,432)
Cash flows from financing activities
Net increase in deposit liabilities	81,324	486,473
Net increase in short-term borrowings with original maturities of three months or less	70,019	31,257
Net increase in short-term borrowings from non-affiliates and affiliates with original maturities of three months or less	153,305	39,995
Repayment of short-term debt	0	(65,000)
Proceeds from issuance of long-term debt	67,312	191,487
Repayment of long-term debt	(15,030)	(51,989)
Withheld shares for employee taxes on vested share-based compensation	(3,079)	(2,002)
Common stock dividends	(76,602)	(74,311)
Preferred stock dividends of subsidiaries	(946)	(946)
Other	(318)	(2,037)
Net cash provided by financing activities	275,985	552,927
Net decrease in cash, cash equivalents and restricted cash	(146,404)	(100,918)
Cash, cash equivalents and restricted cash, beginning of period	311,462	358,979
Cash, cash equivalents and restricted cash, end of period	165,058	258,061
Less: Restricted cash	(5,386)	(10,618)
Cash and cash equivalents, end of period	$ 159,672	$ 247,443

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Revenues	$ 895,607		$ 680,257		$ 1,680,675	$ 1,323,203
Expenses
Total expenses	808,939		578,401		1,494,731	1,123,316
Total operating income	86,668		101,856		185,944	199,887
Allowance for equity funds used during construction	2,470		2,377		4,879	4,568
Retirement defined benefits credit—other than service costs	1,246		1,216		2,489	3,651
Allowance for borrowed funds used during construction	798		812		1,576	1,559
Income before income taxes	66,217		82,944		153,697	163,140
Income taxes	13,203		18,599		31,043	33,964
Net income attributable to Hawaiian Electric	53,014		64,345		122,654	129,176
Preferred stock dividends of Hawaiian Electric	473		473		946	946
Net income for common stock	52,541	$ 69,167	63,872	$ 64,358	121,708	128,230
Hawaiian Electric Company, Inc. and Subsidiaries
Revenues
Revenues	818,873		601,879		1,527,665	1,166,743
Expenses
Fuel oil	269,655		139,136		490,941	266,563
Purchased power	218,085		162,465		381,618	304,761
Other operation and maintenance	124,892		118,142		250,149	232,712
Depreciation	58,739		57,381		117,210	114,736
Taxes, other than income taxes	76,348		57,071		142,998	111,173
Total expenses	747,719		534,195		1,382,916	1,029,945
Total operating income	71,154		67,684		144,749	136,798
Allowance for equity funds used during construction	2,470		2,377		4,879	4,568
Retirement defined benefits credit—other than service costs	991		1,020		1,981	2,041
Interest expense and other charges, net	(18,800)		(17,995)		(37,126)	(35,978)
Allowance for borrowed funds used during construction	798		812		1,576	1,559
Income before income taxes	56,613		53,898		116,059	108,988
Income taxes	11,979		11,498		24,517	22,731
Net income	44,634		42,400		91,542	86,257
Preferred stock dividends of subsidiaries	229		229		458	458
Net income attributable to Hawaiian Electric	44,405		42,171		91,084	85,799
Preferred stock dividends of Hawaiian Electric	270		270		540	540
Net income for common stock	$ 44,135	$ 46,409	$ 41,901	$ 43,358	$ 90,544	$ 85,259

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Comprehensive Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income for common stock	$ 52,541	$ 69,167	$ 63,872	$ 64,358	$ 121,708	$ 128,230
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes of $(2), $2,028, $1,516 and $4,055, respectively	122		6,008		4,623	12,018
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $19, $(2,016), $(1,481) and $(4,031), respectively	56		(5,811)		(4,269)	(11,622)
Other comprehensive income (loss), net of taxes	(87,840)	(117,159)	16,472	(44,016)	(204,999)	(27,544)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(35,299)		80,344		(83,291)	100,686
Hawaiian Electric Company, Inc. and Subsidiaries
Net income for common stock	44,135	46,409	41,901	43,358	90,544	85,259
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes of $(2), $2,028, $1,516 and $4,055, respectively	(5)		5,846		4,371	11,691
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $19, $(2,016), $(1,481) and $(4,031), respectively	56		(5,811)		(4,269)	(11,622)
Other comprehensive income (loss), net of taxes	51	$ 51	35	$ 34	102	69
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ 44,186		$ 41,936		$ 90,646	$ 85,328

Condensed Consolidated Statem_9

Condensed Consolidated Statements of Comprehensive Income (unaudited) - HECO (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	$ 44	$ 2,086	$ 1,606	$ 4,170
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	19	(2,016)	(1,481)	(4,031)
Hawaiian Electric Company, Inc. and Subsidiaries
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	(2)	2,028	1,516	4,055
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	$ 19	$ (2,016)	$ (1,481)	$ (4,031)

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheets (unaudited) - HECO - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Utility property, plant and equipment
Total property, plant and equipment, net	$ 5,429,420	$ 5,392,068
Current assets
Cash and cash equivalents	159,672	305,551
Restricted cash	5,386	5,911
Other long-term assets
Operating lease right-of-use assets	120,600	122,416
Total assets	16,001,743	15,822,637
Capitalization
Retained earnings	803,027	757,921
Accumulated other comprehensive loss, net of tax benefits-retirement benefit plans	(257,532)	(52,533)
Total shareholders’ equity	2,233,504	2,390,884
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Commitments and contingencies (Notes 3 and 4)
Current liabilities
Interest and dividends payable	20,661	19,889
Deferred credits and other liabilities
Deferred income taxes	302,346	384,760
Total liabilities and shareholders’ equity	16,001,743	15,822,637
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Land	52,060	51,937
Plant and equipment	7,840,615	7,735,983
Less accumulated depreciation	(3,026,295)	(2,940,517)
Construction in progress	226,679	204,569
Utility property, plant and equipment, net	5,093,059	5,051,972
Nonutility property, plant and equipment, less accumulated depreciation	6,947	6,949
Total property, plant and equipment, net	5,100,006	5,058,921
Current assets
Cash and cash equivalents	15,503	52,169
Restricted cash	1,129	3,089
Customer accounts receivable, net	247,270	186,859
Accrued unbilled revenues, net	178,876	129,155
Other accounts receivable, net	10,388	7,267
Fuel oil stock, at average cost	223,787	104,078
Materials and supplies, at average cost	74,581	71,877
Prepayments and other	36,540	46,031
Regulatory assets	73,578	66,664
Total current assets	861,652	667,189
Other long-term assets
Operating lease right-of-use assets	99,690	101,470
Regulatory assets	457,322	498,879
Other	168,326	165,166
Total other long-term assets	725,338	765,515
Total assets	6,686,996	6,491,625
Capitalization
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 17,753,533 shares at June 30, 2022 and December 31, 2021)	118,376	118,376
Premium on capital stock	798,526	798,526
Retained earnings	1,375,871	1,348,277
Accumulated other comprehensive loss, net of tax benefits-retirement benefit plans	(3,178)	(3,280)
Total shareholders’ equity	2,289,595	2,261,899
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,684,520	1,624,427
Total capitalization	4,008,408	3,920,619
Commitments and contingencies (Notes 3 and 4)
Current liabilities
Current portion of operating lease liabilities	27,976	49,368
Current portion of long-term debt	51,988	51,975
Short-term borrowings from non-affiliates	54,987	0
Accounts payable	199,156	160,007
Interest and dividends payable	17,796	17,325
Taxes accrued, including revenue taxes	211,999	208,280
Regulatory liabilities	22,633	29,760
Other	80,624	71,569
Total current liabilities	667,159	588,284
Deferred credits and other liabilities
Operating lease liabilities	86,111	65,780
Deferred income taxes	400,110	408,634
Regulatory liabilities	985,442	967,008
Unamortized tax credits	100,112	103,945
Defined benefit pension and other postretirement benefit plans liability	315,475	321,780
Other	124,179	115,575
Total deferred credits and other liabilities	2,011,429	1,982,722
Total liabilities and shareholders’ equity	$ 6,686,996	$ 6,491,625

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheets (unaudited) - HECO (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Shareholders’ equity
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, outstanding shares (in shares)	109,466,829	109,311,785
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Nonutility property, plant and equipment, accumulated depreciation	$ 61	$ 59
Shareholders’ equity
Common stock, par value (in dollars per share)	$ 6.67	$ 6.67
Common stock, authorized shares (in shares)	50,000,000	50,000,000
Common stock, outstanding shares (in shares)	17,753,533	17,753,533

Condensed Consolidated State_10

Condensed Consolidated Statements of Changes in Shareholders' Equity (unaudited) - HECO - USD ($) $ in Thousands	Total	Hawaiian Electric Company, Inc. and Subsidiaries	Common stock	Common stock Hawaiian Electric Company, Inc. and Subsidiaries	Premium on capital stock Hawaiian Electric Company, Inc. and Subsidiaries	Retained earnings	Retained earnings Hawaiian Electric Company, Inc. and Subsidiaries	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) Hawaiian Electric Company, Inc. and Subsidiaries
Beginning balance (in shares) at Dec. 31, 2020			109,181,000	17,324,000
Beginning balance at Dec. 31, 2020	$ 2,337,502	$ 2,141,918	$ 1,678,368	$ 115,515	$ 746,987	$ 660,398	$ 1,282,335	$ (1,264)	$ (2,919)
Increase (decrease) in stockholders' equity
Net income for common stock	64,358	43,358				64,358	43,358
Other comprehensive income (loss), net of tax benefits	(44,016)	34						(44,016)	34
Common stock dividends	(37,156)	(27,925)				(37,156)	(27,925)
Ending balance (in shares) at Mar. 31, 2021			109,281,000	17,324,000
Ending balance at Mar. 31, 2021	2,321,293	2,157,385	$ 1,678,973	$ 115,515	746,987	687,600	1,297,768	(45,280)	(2,885)
Beginning balance (in shares) at Dec. 31, 2020			109,181,000	17,324,000
Beginning balance at Dec. 31, 2020	2,337,502	2,141,918	$ 1,678,368	$ 115,515	746,987	660,398	1,282,335	(1,264)	(2,919)
Increase (decrease) in stockholders' equity
Net income for common stock	128,230	85,259
Other comprehensive income (loss), net of tax benefits	(27,544)	69
Common stock dividends		(55,850)
Ending balance (in shares) at Jun. 30, 2021			109,311,000	17,324,000
Ending balance at Jun. 30, 2021	2,367,329	2,171,396	$ 1,681,820	$ 115,515	746,987	714,317	1,311,744	(28,808)	(2,850)
Beginning balance (in shares) at Mar. 31, 2021			109,281,000	17,324,000
Beginning balance at Mar. 31, 2021	2,321,293	2,157,385	$ 1,678,973	$ 115,515	746,987	687,600	1,297,768	(45,280)	(2,885)
Increase (decrease) in stockholders' equity
Net income for common stock	63,872	41,901				63,872	41,901
Other comprehensive income (loss), net of tax benefits	16,472	35						16,472	35
Common stock dividends	(37,155)	(27,925)				(37,155)	(27,925)
Ending balance (in shares) at Jun. 30, 2021			109,311,000	17,324,000
Ending balance at Jun. 30, 2021	$ 2,367,329	2,171,396	$ 1,681,820	$ 115,515	746,987	714,317	1,311,744	(28,808)	(2,850)
Beginning balance (in shares) at Dec. 31, 2021	109,311,785		109,312,000	17,753,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	2,261,899	$ 1,685,496	$ 118,376	798,526	757,921	1,348,277	(52,533)	(3,280)
Increase (decrease) in stockholders' equity
Net income for common stock	69,167	46,409				69,167	46,409
Other comprehensive income (loss), net of tax benefits	(117,159)	51						(117,159)	51
Common stock dividends	(38,301)	(31,475)				(38,301)	(31,475)
Ending balance (in shares) at Mar. 31, 2022			109,431,000	17,753,000
Ending balance at Mar. 31, 2022	$ 2,303,642	2,276,884	$ 1,684,547	$ 118,376	798,526	788,787	1,363,211	(169,692)	(3,229)
Beginning balance (in shares) at Dec. 31, 2021	109,311,785		109,312,000	17,753,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	2,261,899	$ 1,685,496	$ 118,376	798,526	757,921	1,348,277	(52,533)	(3,280)
Increase (decrease) in stockholders' equity
Net income for common stock	121,708	90,544
Other comprehensive income (loss), net of tax benefits	$ (204,999)	102
Common stock dividends		(62,950)
Ending balance (in shares) at Jun. 30, 2022	109,466,829		109,467,000	17,753,000
Ending balance at Jun. 30, 2022	$ 2,233,504	2,289,595	$ 1,688,009	$ 118,376	798,526	803,027	1,375,871	(257,532)	(3,178)
Beginning balance (in shares) at Mar. 31, 2022			109,431,000	17,753,000
Beginning balance at Mar. 31, 2022	2,303,642	2,276,884	$ 1,684,547	$ 118,376	798,526	788,787	1,363,211	(169,692)	(3,229)
Increase (decrease) in stockholders' equity
Net income for common stock	52,541	44,135				52,541	44,135
Other comprehensive income (loss), net of tax benefits	(87,840)	51						(87,840)	51
Common stock dividends	$ (38,301)	(31,475)				(38,301)	(31,475)
Ending balance (in shares) at Jun. 30, 2022	109,466,829		109,467,000	17,753,000
Ending balance at Jun. 30, 2022	$ 2,233,504	$ 2,289,595	$ 1,688,009	$ 118,376	$ 798,526	$ 803,027	$ 1,375,871	$ (257,532)	$ (3,178)

Condensed Consolidated State_11

Condensed Consolidated Statements of Cash Flows (unaudited) - HECO - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	$ 126,112	$ 122,921
Other amortization	19,134	17,896
Deferred income taxes	(14,683)	(7,355)
Allowance for equity funds used during construction	(4,879)	(4,568)
Other	(3,858)	(5,037)
Changes in assets and liabilities
Increase in fuel oil stock	(119,890)	(43,681)
Decrease (increase) in regulatory assets	12,956	(17,731)
Increase in regulatory liabilities	11,288	5,824
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	22,173	(1,818)
Decrease in defined benefit pension and other postretirement benefit plans liability	(2,698)	(3,834)
Change in other assets and liabilities	(55,260)	(39,800)
Net cash provided by operating activities	74,642	117,587
Cash flows from investing activities
Capital expenditures	(147,749)	(148,414)
Other	15,813	7,805
Net cash used in investing activities	(497,031)	(771,432)
Cash flows from financing activities
Common stock dividends	(76,602)	(74,311)
Repayment of short-term debt	0	(65,000)
Proceeds from issuance of long-term debt	67,312	191,487
Net increase in short-term borrowings from non-affiliates and affiliates with original maturities of three months or less	153,305	39,995
Other	(318)	(2,037)
Net cash provided by financing activities	275,985	552,927
Net decrease in cash, cash equivalents and restricted cash	(146,404)	(100,918)
Cash, cash equivalents and restricted cash, beginning of period	311,462	358,979
Cash, cash equivalents and restricted cash, end of period	165,058	258,061
Less: Restricted cash	(5,386)	(10,618)
Cash and cash equivalents, end of period	159,672	247,443
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	91,542	86,257
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	117,210	114,736
Other amortization	12,703	12,245
Deferred income taxes	(15,964)	(11,871)
State refundable credit	(5,517)	(5,309)
Bad debt expense	3,128	810
Allowance for equity funds used during construction	(4,879)	(4,568)
Other	(4)	810
Changes in assets and liabilities
Increase in accounts receivable	(51,927)	(12,972)
Increase in accrued unbilled revenues	(49,711)	(31,398)
Increase in fuel oil stock	(119,709)	(43,828)
Increase in materials and supplies	(2,704)	(5,615)
Decrease (increase) in regulatory assets	12,956	(17,731)
Increase in regulatory liabilities	11,288	5,824
Increase in accounts payable	59,850	12,297
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	10,016	(9,051)
Decrease in defined benefit pension and other postretirement benefit plans liability	(2,515)	(2,549)
Change in other assets and liabilities	(21,613)	(30,634)
Net cash provided by operating activities	44,150	57,453
Cash flows from investing activities
Capital expenditures	(140,245)	(138,025)
Other	6,685	4,670
Net cash used in investing activities	(133,560)	(133,355)
Cash flows from financing activities
Common stock dividends	(62,950)	(55,850)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(998)	(998)
Repayment of short-term debt	0	(50,000)
Proceeds from issuance of long-term debt	60,000	115,000
Net increase in short-term borrowings from non-affiliates and affiliates with original maturities of three months or less	54,987	37,999
Other	(255)	(941)
Net cash provided by financing activities	50,784	45,210
Net decrease in cash, cash equivalents and restricted cash	(38,626)	(30,692)
Cash, cash equivalents and restricted cash, beginning of period	55,258	63,326
Cash, cash equivalents and restricted cash, end of period	16,632	32,634
Less: Restricted cash	(1,129)	(8,968)
Cash and cash equivalents, end of period	$ 15,503	$ 23,666

Basis of presentation

Basis of presentation	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentationThe accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, the instructions to SEC Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In preparing the unaudited condensed consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenues and expenses for the period. Actual results could differ significantly from those estimates. The accompanying unaudited condensed consolidated financial statements and the following notes should be read in conjunction with the audited consolidated financial statements and the notes thereto in HEI’s and Hawaiian Electric’s Form 10-K for the year ended December 31, 2021.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 June 30, 2022 and December 31, 2021 and the results of their operations for the three and six months ended June 30, 2022 and 2021 and cash flows for the six months ended June 30, 2022 and 2021. All such adjustments are of a normal recurring nature, unless otherwise disclosed below or in other referenced material. Results of operations for interim periods are not necessarily indicative of results for the full year. Recent accounting pronouncements. Credit Losses. In March 2022, Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2022-02, “Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which eliminates the accounting guidance for Troubled Debt Restructurings (TDRs) by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. The amendments in this update also require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, “Financial Instruments-Credit Losses-Measured at Amortized Cost.” Gross write-off information must be included in the vintage disclosures required for public business entities in accordance with paragraph 325-20-50-6, which requires that an entity disclose the amortized cost basis of financing receivables by credit-quality indicator and class of financing receivable by year of origination. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASB is assessing the requirements of the ASU.

Segment financial information

Segment financial information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment financial information	Segment financial information (in thousands) Electric utility Bank Other Total Three months ended June 30, 2022 Revenues from external customers $ 818,873 $ 75,324 $ 1,410 $ 895,607 Intersegment revenues (eliminations) — — — — Revenues $ 818,873 $ 75,324 $ 1,410 $ 895,607 Income (loss) before income taxes $ 56,613 $ 22,109 $ (12,505) $ 66,217 Income taxes (benefit) 11,979 4,643 (3,419) 13,203 Net income (loss) 44,634 17,466 (9,086) 53,014 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 44,135 $ 17,466 $ (9,060) $ 52,541 Six months ended June 30, 2022 Revenues from external customers $ 1,527,661 $ 150,439 $ 2,575 $ 1,680,675 Intersegment revenues (eliminations) 4 — (4) — Revenues $ 1,527,665 $ 150,439 $ 2,571 $ 1,680,675 Income (loss) before income taxes $ 116,059 $ 52,324 $ (14,686) $ 153,697 Income taxes (benefit) 24,517 10,988 (4,462) 31,043 Net income (loss) 91,542 41,336 (10,224) 122,654 Preferred stock dividends of subsidiaries 998 — (52) 946 Net income (loss) for common stock $ 90,544 $ 41,336 $ (10,172) $ 121,708 Total assets (at June 30, 2022) $ 6,686,996 $ 9,214,865 $ 99,882 $ 16,001,743 Three months ended June 30, 2021 Revenues from external customers $ 601,869 $ 77,260 $ 1,128 $ 680,257 Intersegment revenues (eliminations) 10 — (10) — Revenues $ 601,879 $ 77,260 $ 1,118 $ 680,257 Income (loss) before income taxes $ 53,898 $ 39,992 $ (10,946) $ 82,944 Income taxes (benefit) 11,498 9,708 (2,607) 18,599 Net income (loss) 42,400 30,284 (8,339) 64,345 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 41,901 $ 30,284 $ (8,313) $ 63,872 Six months ended June 30, 2021 Revenues from external customers $ 1,166,724 $ 154,391 $ 2,088 $ 1,323,203 Intersegment revenues (eliminations) 19 — (19) — Revenues $ 1,166,743 $ 154,391 $ 2,069 $ 1,323,203 Income (loss) before income taxes $ 108,988 $ 77,094 $ (22,942) $ 163,140 Income taxes (benefit) 22,731 17,254 (6,021) 33,964 Net income (loss) 86,257 59,840 (16,921) 129,176 Preferred stock dividends of subsidiaries 998 — (52) 946 Net income (loss) for common stock $ 85,259 $ 59,840 $ (16,869) $ 128,230 Total assets (at December 31, 2021) $ 6,491,625 $ 9,181,603 $ 149,409 $ 15,822,637 Intercompany electricity sales of the Utilities to ASB and “other” segments are not eliminated because those segments would need to purchase electricity from another source if it were not provided by the Utilities and the profit on such sales is nominal. Hamakua Energy, LLC’s (Hamakua Energy’s) sales to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation.

Electric utility segment

Electric utility segment	6 Months Ended
	Jun. 30, 2022
Electric Utility Subsidiary [Abstract]
Electric utility segment	Electric utility segment Unconsolidated variable interest entities. Power purchase agreements . As of June 30, 2022, the Utilities had five PPAs for firm capacity (including the Puna Geothermal Venture PPA that went offline in May 2018 due to lava flow on Hawaii Island, but returned to service with firm capacity of 13.0 MW in the first quarter of 2021, ramped up to 23.9 MW in the second quarter of 2021, and further increased to 25.7 MW in June 2022) and other PPAs with independent power producers (IPPs) and Schedule Q providers (i.e., customers with cogeneration and/or power production facilities who buy power from or sell power to the Utilities), none of which are currently required to be consolidated as VIEs. Pursuant to the current accounting standards for VIEs, the Utilities are deemed to have a variable interest in Kalaeloa Partners, L.P. (Kalaeloa), AES Hawaii, Inc. (AES Hawaii) and Hamakua Energy by reason of the provisions of the PPA that the Utilities have with the three IPPs. However, management has concluded that the Utilities are not the primary beneficiary of Kalaeloa, AES Hawaii and Hamakua Energy because the Utilities do not have the power to direct the activities that most significantly impact the three IPPs’ economic performance nor the obligation to absorb their expected losses, if any, that could potentially be significant to the IPPs. Thus, the Utilities have not consolidated Kalaeloa, AES Hawaii and Hamakua Energy in its condensed consolidated financial statements. However, Hamakua Energy is an indirect subsidiary of Pacific Current and is consolidated in HEI’s condensed consolidated financial statements. Commitments and contingencies. Contingencies . The Utilities are subject in the normal course of business to pending and threatened legal proceedings. Management does not anticipate that the aggregate ultimate liability arising out of these pending or threatened legal proceedings will be material to its financial position. However, the Utilities cannot rule out the possibility that such outcomes could have a material effect on the results of operations or liquidity for a particular reporting period in the future. Power purchase agreements . Purchases from all IPPs were as follows: Three months ended June 30 Six months ended June 30 (in millions) 2022 2021 2022 2021 Kalaeloa $ 83 $ 49 $ 143 $ 86 AES Hawaii 34 36 61 66 HPOWER 19 14 38 31 Hamakua Energy 14 12 30 23 Puna Geothermal Venture 14 7 24 11 Wind IPPs 38 28 56 57 Solar IPPs 13 16 26 28 Other IPPs 1 3 1 4 3 Total IPPs $ 218 $ 163 $ 382 $ 305 1 Includes hydro power and other PPAs Kalaeloa Partners, L.P. Under a 1988 PPA, as amended, Hawaiian Electric is committed to purchase 208 MW of firm capacity from Kalaeloa. In October 2021, Hawaiian Electric and Kalaeloa signed the Amended and Restated Power Purchase Agreement for Firm Dispatchable Capacity and Energy (Amended and Restated PPA) to extend the PPA for an additional term of 10 years. In November 2021, Hawaiian Electric submitted an application for approval of the Amended and Restated PPA to the PUC, which is pending approval before the PUC. The price of purchases from Kalaeloa in the second quarter of 2022 have increased 69% over the second quarter of 2021, primarily due to increased fuel oil cost. AES Hawaii, Inc. Under a PPA entered into in March 1988, as amended (through Amended and Restated Amendment No. 4) for a period of 30 years ending September 2022, Hawaiian Electric agreed to purchase 180 MW of firm capacity from AES Hawaii. Hawaiian Electric does not intend to extend the term of the PPA which will expire on September 1, 2022. Hu Honua Bioenergy, LLC (Hu Honua). In May 2012, Hawaii Electric Light signed a PPA, which the PUC approved in December 2013, with Hu Honua for 21.5 MW of renewable, dispatchable firm capacity fueled by locally grown biomass from a facility on the island of Hawaii. Under the terms of the PPA, the Hu Honua plant was scheduled to be in service in 2016. However, Hu Honua encountered construction and litigation delays, which resulted in an amended and restated PPA between Hawaii Electric Light and Hu Honua dated May 9, 2017. In July 2017, the PUC approved the amended and restated PPA, which becomes effective once the PUC’s order is final and non-appealable. In August 2017, the PUC’s approval was appealed by a third party. On May 10, 2019, the Hawaii Supreme Court issued a decision remanding the matter to the PUC for further proceedings consistent with the court’s decision, which must include express consideration of greenhouse gas (GHG) emissions that would result from approving the PPA, whether the cost of energy under the PPA is reasonable in light of the potential for GHG emissions, and whether the terms of the PPA are prudent and in the public interest, in light of its potential hidden and long-term consequences. As a result, the PUC reopened the docket for further proceedings, including re-examining all of the issues in the proceedings. On July 9, 2020, the PUC issued an order denying Hawaii Electric Light’s request to waive the amended and restated PPA from the PUC’s competitive bidding requirements and therefore, dismissed the request for approval of the amended and restated PPA without prejudice to possible participation in any future competitive bidding process. On September 9, 2020, the PUC denied Hu Honua’s motion for reconsideration of the PUC’s order. Hu Honua filed its notice of appeal to the Hawaii Supreme Court of the PUC’s order denying Hu Honua’s motion for reconsideration. On May 24, 2021, the Hawaii Supreme Court vacated the PUC’s decision and remanded the matter back to the PUC for further proceedings. On June 30, 2021, the PUC issued an order reopening the docket consistent with the Hawaii Supreme Court’s order. A contested case hearing was held in March 2022. On May 23, 2022, the PUC issued a decision and order denying the amended and restated PPA, based on, among other things, findings that: (1) the project will result in significant GHG emissions, (2) Hu Honua’s proposed carbon commitment to sequester more GHG emissions than produced by the project are speculative and unsupported, (3) the amended and restated PPA is likely to result in high costs to customers through its relatively high cost of electricity and through potential displacement of other, lower cost, renewable resources, and (4) based on the foregoing, approving the amended and restated PPA is not prudent or in the public interest. On June 2, 2022, Hawaii Electric Light and Hu Honua filed their separate motions for reconsideration. On June 24, 2022, the PUC issued an order denying Hawaii Electric Light and Hu Honua’s respective motions for reconsideration. On June 29, 2022, Hu Honua filed its notice of appeal to the Hawaii Supreme Court of the PUC’s May 23, 2022 decision and order denying the amended and restated PPA, and the PUC’s June 24, 2022 order denying Hawaii Electric Light and Hu Honua’s motions for reconsideration. Molokai New Energy Partners (MNEP). In July 2018, the PUC approved Maui Electric’s PPA with MNEP to purchase solar energy from a photovoltaic (PV) plus battery storage project. The 4.88 MW PV and 3 MW Battery Energy Storage System project was to deliver no more than 2.64 MW at any time to the Molokai system. On March 25, 2020, MNEP filed a complaint in the United Stated District Court for the District of Hawaii against Maui Electric claiming breach of contract. On June 3, 2020, Maui Electric provided Notice of Default and Termination of the PPA to MNEP terminating the PPA with an effective date of July 10, 2020. Thereafter, MNEP filed an amended Complaint to include claims relating to the termination and Hawaiian Electric filed its Answer to the Amended Complaint on September 11, 2020, disputing the facts presented by MNEP and all claims within the original and amended complaint. Currently, the discovery phase is ongoing. Utility projects . Many public utility projects require PUC approval and various permits from other governmental agencies. Difficulties in obtaining, or the inability to obtain, the necessary approvals or permits or community support can result in significantly increased project costs or even cancellation of projects. In the event a project does not proceed, or if it becomes probable the PUC will disallow cost recovery for all or part of a project, or if PUC-imposed caps on project costs are expected to be exceeded, project costs may need to be written off in amounts that could result in significant reductions in Hawaiian Electric’s consolidated net income. Enterprise Resource Planning/Enterprise Asset Management (ERP/EAM) implementation project. The ERP/EAM Implementation Project went live in October 2018. Hawaii Electric Light and Hawaiian Electric began to incorporate their portion of the deferred project costs in rate base and started the amortization over a 12-year period in January 2020 and November 2020, respectively. The PUC required a minimum of $246 million ERP/EAM project-related benefit to be delivered to customers over the system’s 12-year service life. In February 2019, the PUC approved a methodology for passing the future cost saving benefits of the new ERP/EAM system to customers developed by the Utilities in collaboration with the Consumer Advocate. The Utilities filed a benefits clarification document on June 10, 2019, reflecting $150 million in future net O&M expense reductions and cost avoidance, and $96 million in capital cost reductions and tax savings over the 12-year service life. To the extent the reduction in O&M expense relates to amounts reflected in electric rates, the Utilities would reduce future rates for such amounts. In October 2019, the PUC approved the Utilities and the Consumer Advocate’s Stipulated Performance Metrics and Tracking Mechanism. As of June 30, 2022, the Utilities’ regulatory liability was $9.6 million ($4.8 million for Hawaiian Electric, $1.9 million for Hawaii Electric Light and $2.9 million for Maui Electric) for the O&M expense savings that are being amortized or to be included in future rates. As part of the settlement agreement approved in the Hawaiian Electric 2020 test year rate case, the regulatory liability for Hawaiian Electric will be amortized over five years, beginning in November 2020, and the O&M benefits for Hawaiian Electric was considered flowed through to customers. On July 7, 2021, the PUC issued an order modifying the reporting frequency of the Semi-Annual Enterprise System Benefits (SAESB) reports to an Annual Enterprise System Benefits (AESB) report on the achieved benefits savings. The most recent AESB report was filed on February 14, 2022 for the period January 1 through December 31, 2021. West Loch PV Project. In November 2019, Hawaiian Electric placed into service a 20-MW (ac) utility-owned and operated renewable and dispatchable solar facility on property owned by the Department of the Navy. PUC orders resulted in a project cost cap of $67 million (including a cap of $4.7 million for the in-kind work performed in exchange for use of the Navy property) with capital cost recovery approved under MPIR (See “Performance-based regulation framework” section below for MPIR guidelines and cost recovery discussion.) Project costs incurred as of June 30, 2022 amounted to $60.1 million and generated $14.7 million and $14.0 million in federal and state nonrefundable tax credits, respectively. For book and regulatory purposes, the tax credits are being deferred and amortized, starting in 2020, over 25 years and 10 years for federal and state credits, respectively. In June 2022, the in-kind consideration services were completed and fully accepted by the Navy as partial consideration in lieu of rent payment. Satisfaction of the full-term rent requires on-going compliance with all terms of the lease, which, among other things, includes provision of contingent power upon written notice of the Department of the Navy. Hawaiian Electric accounted for the arrangement as a lease, recording $6.4 million as right-of-use asset with no lease liability and will amortize the right-of-use asset over the remaining term of the lease ending June 30, 2054. Waena Switchyard/Synchronous Condenser Project. In October 2020, to support efforts to increase renewable energy generation and reduce fossil fuel consumption by deactivating current generating units, Maui Electric filed a PUC application to construct a switchyard, which includes the extension of two 69 kV transmission lines and the relocation of another 69 kV transmission line; and the conversion of two generating units to synchronous condensers at Kahului Power Plant in central Maui. In November 2021, the PUC approved Maui Electric’s request to commit funds estimated at $38.8 million for the project, and to recover capital expenditures for the project under Exceptional Project Recovery Mechanism (EPRM) not to exceed $38.8 million, which shall be further reduced to reflect the total project cost exclusive of overhead costs not directly attributable to the project. In approving the project, the PUC recognized that the project will facilitate the ability to accommodate increased renewable energy, as contemplated under the EPRM guidelines. As of June 30, 2022, $10.2 million has been incurred for the project. Environmental regulation . The Utilities are subject to environmental laws and regulations that regulate the operation of existing facilities, the construction and operation of new facilities and the proper cleanup and disposal of hazardous waste and toxic substances. Hawaiian Electric, Hawaii Electric Light and Maui Electric, like other utilities, periodically encounter petroleum or other chemical releases associated with current or previous operations. The Utilities report and take action on these releases when and as required by applicable law and regulations. The Utilities believe the costs of responding to such releases identified to date will not have a material effect, individually or in the aggregate, on Hawaiian Electric’s consolidated results of operations, financial condition or liquidity. Former Molokai Electric Company generation site . In 1989, Maui Electric acquired Molokai Electric Company. Molokai Electric Company had sold its former generation site (Site) in 1983, but continued to operate at the Site under a lease until 1985 and left the property in 1987. The federal Environmental Protection Agency (EPA) has since identified environmental impacts in the subsurface soil at the Site. In cooperation with the Department of Health of State of Hawaii and EPA, Maui Electric further investigated the Site and the adjacent parcel to determine the extent of impacts of polychlorinated biphenyls (PCBs), residual fuel oils and other subsurface contaminants. Maui Electric has a reserve balance of $2.7 million as of June 30, 2022, representing the probable and reasonably estimable undiscounted cost for remediation of the Site and the adjacent parcel based on presently available information; however, final costs of remediation will depend on the cleanup approach implemented. Additionally, on November 24, 2021, the current landowners of the Site, Misaki’s, Inc., filed a lawsuit against Hawaiian Electric (as alleged successor in interest to Molokai Electric, the prior owner of the Site) in the Circuit Court of the Second Circuit of the State of Hawaii (removed to the U.S. District Court for the District of Hawaii). The complaint which was subsequently amended to include Maui Electric, alleges that Hawaiian Electric is responsible for remediation of the Site based on the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA), and the Hawaii Environmental Response Law under Hawaii Revised Statutes Chapter 128D, as well as being liable on contractual claims related to a short leaseback period during the transition of ownership from Molokai Electric. The amended complaint was dismissed and a new complaint is pending subject to the parties attempt to enter into settlement negotiations, but the Utilities intend to vigorously defend the action if necessary. At this time, the Utilities are unable to determine the ultimate outcome of the lawsuit or the amount of any possible loss. As of June 30, 2022, the reserve balance recorded by the Utilities to address the lawsuit was not material. Pearl Harbor sediment study . In July 2014, the U.S. Navy notified Hawaiian Electric of the Navy’s determination that Hawaiian Electric is a Potentially Responsible Party under CERCLA responsible for the costs of investigation and cleanup of PCB contamination in sediment in the area offshore of the Waiau Power Plant as part of the Pearl Harbor Superfund Site. Hawaiian Electric was also required by the EPA to assess potential sources and extent of PCB contamination onshore at Waiau Power Plant. As of June 30, 2022, the reserve account balance recorded by Hawaiian Electric to address the PCB contamination was $10.1 million. The reserve balance represents the probable and reasonably estimable undiscounted cost for the onshore and offshore investigation and remediation. The final remediation costs will depend on the actual onshore and offshore cleanup costs. Regulatory proceedings Decoupling . Decoupling is a regulatory model that is intended to provide the Utilities with financial stability and facilitate meeting the State of Hawaii’s goals to transition to a clean energy economy and achieve an aggressive renewable portfolio standard. Decoupling delinks the utility’s revenues from the utility’s sales, removing the disincentive to promote energy efficiency and accept more renewable energy. Decoupling continues under the PBR Framework. Performance-based regulation framework. On December 23, 2020, the PUC issued a decision and order (PBR D&O) establishing a new PBR Framework to govern the Utilities. The PBR Framework incorporates an annual revenue adjustment (ARA) and a suite of new regulatory mechanisms in addition to previously established regulatory mechanisms. Under the PBR Framework, the decoupling mechanism (i.e., the Revenue Balancing Account (RBA)) established by the previous regulatory framework will continue. The existing cost recovery mechanisms will continue as currently implemented (i.e., the Energy Cost Recovery Clause (ECRC), Purchased Power Adjustment Clause (PPAC), Demand Side Management surcharge, Renewable Energy Infrastructure Program, Demand Response Adjustment Clause (DRAC), Pension and Other Post-Employment Benefits (OPEB) tracking mechanisms). In addition to annual revenues provided by the ARA, the Utilities may seek relief for extraordinary projects or programs through the Exceptional Project Recovery Mechanism (EPRM) (formerly known as the Major Project Interim Recovery adjustment mechanism) and earn financial rewards for exemplary performance as provided through a portfolio of Performance Incentive Mechanisms (PIMs) and Shared Savings Mechanisms (SSMs). The PBR Framework incorporates a variety of additional performance mechanisms, including Scorecards, Reported Metrics, and an expedited Pilot Process. The PBR Framework also contains a number of safeguards, including a symmetric Earnings Sharing Mechanism (ESM) which protects the Utilities and customers from excessive earnings or losses, as measured by the Utilities’ achieved rate-making ROACE and a Re-Opener mechanism, under which the PUC will open an examination, at its discretion, to determine if adjustments or modifications to specific PBR mechanisms are appropriate. The new PBR Framework became fully effective on June 1, 2021. On June 17, 2022, the PUC issued a decision and order (June 2022 D&O) establishing additional PIMs under the PBR Framework for the Utilities. In 2021, the PUC Staff originally proposed consideration of 11 PIMs and other mechanisms to address identified areas of concern. Seven of the staff proposed PIMs were designed as penalty-only. The June 2022 D&O approved two new PIMs, a new SSM, and extended the timeframe for an existing PIM. Of the new PIMs, only one is penalty-only. Specifically, the PUC approved (1) a new (penalty-only) generation-caused interruption reliability PIM, (2) a new (penalty/reward) interconnection requirements study (IRS) PIM, (3) a new (reward-only) Collective Shared Savings Mechanism (CSSM), and (4) a modification and extension of the existing interim (reward-only) Grid Services PIM. The effective date for the changes has not yet been established. On July 15, 2022, the Utilities submitted for the PUC’s review and approval, proposed tariffs to implement the aforementioned PIMs with an evaluation period proposed for the generation-caused interruption reliability PIMs, IRS PIM, and CSSM to start on January 1, 2023. The evaluation period is the calendar year period over which performance is compared to performance targets of the PIM to determine the amount of reward or penalty. In addition, the June 2022 D&O instructed the Utilities to prepare and submit: a detailed fossil fuel retirement report outlining necessary steps to safely and reliably retire certain existing fossil fuel power plants during the first multi-year rate period (MRP); and a functional integration plan for DER to increase transparency into the Utilities’ plans and progress for utilizing cost-effective grid services from DERs and ensure that the necessary functionalities and requisite technologies are in place to do so. The PUC also instructed the PBR Working Group to continue its ongoing collaborative efforts to consider other potential new incentive mechanisms and to address other issues raised during the proceeding. Following the PUC’s review of the Utilities’ tariffs to implement the approved PIMs, an order will be issued providing details on next steps for the proceeding. Revenue adjustment mechanism . Prior to the implementation of the PBR Framework, the revenue adjustment mechanism (RAM) was a major component of the previously established regulatory framework. The RAM was based on the lesser of: a) an inflationary adjustment for certain O&M expenses and return on investment for certain rate base changes, or b) cumulative annual compounded increase in Gross Domestic Product Price Index applied to annualized target revenues (the RAM Cap). Under the PBR Framework, the ARA mechanism replaced the RAM, and became effective on June 1, 2021. RAM revenue adjustments approved by the PUC in 2020 will continue to be included in the RBA provision’s target revenue and RBA rate adjustment unless modified with PUC approval. Annual revenue adjustment mechanism . The PBR Framework established a five-year MRP during which there will be no general rate cases. Target revenues will be adjusted according to an index-driven ARA based on (i) an inflation factor, (ii) a predetermined X-factor to encompass productivity, which is set at zero, (iii) a Z-factor to account for exceptional circumstances not in the Utilities’ control and (iv) a customer dividend consisting of a negative adjustment of 0.22% of adjusted revenue requirements compounded annually and a flow through of the “pre-PBR” savings commitment from the management audit recommendations developed in a prior docket at a rate of $6.6 million per year from 2021 to 2025. The implementation of the ARA occurred on June 1, 2021. Earnings sharing mechanism . The PBR Framework established a symmetrical ESM for achieved rate-making ROACE outside of a 300 basis points dead band above or below the current authorized ROACE of 9.5% for each of the Utilities. There is a 50/50 sharing between customers and Utilities for the achieved rate-making ROACE falling within 150 basis points outside of the dead band in either direction, and a 90/10 sharing for any further difference. A reopening or review of the PBR terms will be triggered if the Utilities credit rating outlook indicates a potential credit downgrade below investment grade status, or if its achieved rate-making ROACE enters the outer most tier of the ESM. Exceptional project recovery mechanism . Prior to the implementation of the PBR Framework, the PUC established the Major Project Interim Recovery (MPIR) adjustment mechanism and MPIR Guidelines. The MPIR mechanism provides the opportunity to recover revenues for net costs of approved eligible projects placed in service between general rate cases. In establishing the PBR Framework, the MPIR Guidelines were terminated and replaced with the EPRM Guidelines. Although the MPIR Guidelines were terminated and replaced by the EPRM Guidelines, the MPIR mechanism will continue within the PBR Framework to provide recovery of project costs previously approved for recovery under the MPIR. The newly established EPRM Guidelines permit the Utilities to include the full amount of approved costs in the EPRM for recovery in the first year the project goes into service, pro-rated for the portion of the year the project is in service. Deferred and O&M expense projects are also eligible for EPRM recovery under the EPRM Guidelines. EPRM recoverable costs will be limited to the lesser of actual incurred project costs or PUC‑approved amounts, net of savings. As of June 30, 2022, the Utilities submitted 2022 MPIR amounts totaling $25.9 million, including revenue taxes, for the Schofield Generating Station ($16.5 million), West Loch PV Project ($3.3 million), and Grid Modernization Strategy (GMS) Phase 1 project ($6.1 million for all three utilities) for the accrual of revenues effective January 1, 2022, that included the 2022 return on project amount (based on approved amounts) in rate base, depreciation and incremental O&M expenses. The PUC approved the Utilities’ recovery of the annualized 2022 MPIR amounts effective June 1, 2022 through the RBA rate adjustment. As of June 30, 2022, the PUC approved two EPRM applications for projects totaling $41 million to the extent that the project costs are not included in rates. Currently, the Utilities have outstanding applications seeking EPRM recovery for five projects with total project costs of $450 million, subject to PUC approval. Pilot process . The PBR D&O approved a Pilot Process to foster innovation by establishing an expedited implementation process for pilots that test new technologies, programs, business models, and other arrangements. This is intended to support initiatives by the Utilities to test new programs and ideas quickly and elevate any successful pilots for consideration of full-scale implementation. The proposed pilots are subject to PUC approval with a total annual cap of $10 million. The Pilot Process includes an initial workplan development phase, during which the Utilities identify and scope areas of interests, so as to inform the subsequent implementation phase, during which the Utilities submit specific pilot proposals for expedited review by the PUC and implement the pilots upon approval. The PUC will issue an order, approving, denying, or modifying a proposed Pilot within 45 days of receiving notice of a specific pilot project. On July 9, 2021, the PUC issued an order approving the Utilities’ proposed Pilot Process submitted in April 2021 with modifications, including a cost recovery process that generally allows the Utilities to defer and recover total annual expenditures of approved pilot projects in full over twelve months beginning June 1 of the year following implementation through the RBA rate adjustment, although the Utilities may determine on a case-by-case basis that a particular project’s deferred costs should be amortized over a period greater than twelve months. On July 28, 2021, the Utilities submitted the finalized Pilot Process to govern the review of the pilot project proposals in accordance with the July 9, 2021 order. On November 12, 2021, the Utilities requested PUC approval of their proposed Pilot Process Workplan to guide the development of pilot projects over the next three years. A PUC order on the Workplan is pending. On February 28, 2022, the Utilities filed their first annual Pilot Update report covering pilot projects approved through the Pilot Process framework. The Pilot Update reported on approximately $0.1 million of 2021 deferred costs which was incorporated in the Utilities’ adjustments to target revenue in the 2022 spring revenue report. The PUC approved the Utilities’ recovery of the 2021 Pilot amounts effective June 1, 2022 through the RBA rate adjustment. Performance incentive mechanisms . The PUC has established the following PIMs and SSMs: (1) Service Quality performance incentives, (2) Phase 1 Request for proposal (RFP) PIM for procurement of low-cost renewable energy, (3) Phase 2 RFP PIMs for generation and generation plus storage project, and Grid Services and standalone storage, (4) new PIMs established in the PBR D&O and (5) new PIMs and a SSM established in the June 2022 D&O. • Service Quality performance incentives (ongoing). Service Quality performance incentives are measured on a calendar-year basis. The PIM tariff requires the performance targets, deadbands and the amount of maximum financial incentives used to determine the PIM financial incentive levels for each of the PIMs to remain constant in interim periods, unless otherwise amended by order of the PUC. • Service Reliability Performance measured by Transmission and Distribution-caused System Average Interruption Duration and Frequency Indexes (penalties only). Target performance is based on each utility’s historical 10-year average performance with a deadband of one standard deviation. The maximum penalty for each performance index is 20 basis points applied to the common equity share of each respective utility’s approved rate base (or maximum penalties of approximately $6.8 million - for both indices in total for the three utilities). For the 2021 evaluation period, the Utilities earned $0.2 million in penalties. • Call Center Performance measured by the percentage of calls answered within 30 seconds. Target performance is based on the annual average performance for each utility for the most recent 8 quarters with a deadband of 3% above and below the target. The maximum penalty or reward is 8 basis points applied to the common equity share of each respective utility’s approved rate base (or maximum penalties or rewards of approximately $1.4 million - in total for the three utilities). • Phase 1 RFP PIM. Procurement of low-cost variable renewable resources through the RFP process in 2018 is measured by comparison of the procurement price to target prices. Half of the incentive was earned upon PUC approval of the PPAs. Based on the seven PPAs approved in 2019, the Utilities recognized $1.7 million in 2019 with the remaining award to be recognized in the year following the in-service date of the projects, which is estimated to occur from 2023 to 2024. • Phase 2 RFP PIMs. The PUC order issued on October 9, 2019 establishes pricing thresholds, timelines to complete contracting, and other performance criteria for the performance incentive eligibility. The PIMs provide incentives only without penalties. On July 9, 2020, the Utilities filed two Grid Services Purchase Agreements (GSPA) for the Grid Service RFP that potentially qualify for a demand response PIM; however, details of the incentive metrics will be determined by the PUC. On September 15, 2020, the Utilities filed a PPA that qualified for a PIM incentive and on February 16, 2021, the Utilities filed one additional PPA that qualified for a declining PIM incentive. The PUC approved two PPAs in September 2021 and November 2021 and two GSPAs on December 31, 2020. For the 2021 evaluation period, the Utilities earned $0.1 million in rewards related to the two PPAs. • The PUC previously established the following two PIMs in its PBR D&O, which were approved in an order issued on March 23, 2021 and became effective on June 1, 2021. In its June 2022 D&O, the PUC modified and extended the Grid Services PIM. • Renewable portfolio standard (RPS)-A PIM that provides a financial reward for accelerating the achievement of RPS goals. The Utilities may earn a reward for the amount of system generation above the interpolated statutory RPS goal at $20/MWh in 2021 and 2022, $15/MWh in 2023, and $10/MWh for the remainder of the MRP. Penalties are already prescribed in the RPS as $20/MWh for failing to meet RPS targets in 2030, 2040 and 2045. The evaluation period commenced on January 1, 2021. For the 2021 evaluation period, the Utilities earned $1.0 million in rewards. • Grid Services PIM that provides financial rewards on a $/kW basis for the acquisition of eligible grid services. The eligibility period for this PIM initially commenced on January 1,

Bank segment

Bank segment	6 Months Ended
	Jun. 30, 2022
Bank Subsidiary [Abstract]
Bank segment	Bank segment Selected financial information American Savings Bank, F.S.B. Statements of Income and Comprehensive Income Data Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income Interest and fees on loans $ 48,129 $ 51,026 $ 94,134 $ 100,973 Interest and dividends on investment securities 14,693 11,040 28,677 19,713 Total interest and dividend income 62,822 62,066 122,811 120,686 Interest expense Interest on deposit liabilities 921 1,281 1,868 2,743 Interest on other borrowings 139 23 144 50 Total interest expense 1,060 1,304 2,012 2,793 Net interest income 61,762 60,762 120,799 117,893 Provision for credit losses 2,757 (12,207) (506) (20,642) Net interest income after provision for credit losses 59,005 72,969 121,305 138,535 Noninterest income Fees from other financial services 4,716 5,464 10,303 10,537 Fee income on deposit liabilities 4,552 3,904 9,243 7,767 Fee income on other financial products 2,529 2,201 5,247 4,643 Bank-owned life insurance (142) 1,624 539 4,185 Mortgage banking income 372 1,925 1,449 6,225 Gain on sale of real estate — — 1,002 — Gain on sale of investment securities, net — — — 528 Other income, net 475 76 847 348 Total noninterest income 12,502 15,194 28,630 34,233 Noninterest expense Compensation and employee benefits 27,666 27,670 54,881 55,707 Occupancy 5,467 5,100 11,419 10,069 Data processing 4,484 4,533 8,635 8,884 Services 2,522 2,475 4,961 5,337 Equipment 2,402 2,394 4,731 4,616 Office supplies, printing and postage 1,073 978 2,133 2,022 Marketing 934 665 1,952 1,313 FDIC insurance 891 788 1,699 1,604 Other expense 3,959 3,568 7,200 6,122 Total noninterest expense 49,398 48,171 97,611 95,674 Income before income taxes 22,109 39,992 52,324 77,094 Income taxes 4,643 9,708 10,988 17,254 Net income 17,466 30,284 41,336 59,840 Other comprehensive income (loss), net of taxes (88,835) 16,999 (211,276) (28,755) Comprehensive income (loss) $ (71,369) $ 47,283 $ (169,940) $ 31,085 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income $ 62,822 $ 62,066 $ 122,811 $ 120,686 Noninterest income 12,502 15,194 28,630 34,233 Less: Gain on sale of real estate — — 1,002 — Less: Gain on sale of investment securities, net — — — 528 *Revenues-Bank 75,324 77,260 150,439 154,391 Total interest expense 1,060 1,304 2,012 2,793 Provision for credit losses 2,757 (12,207) (506) (20,642) Noninterest expense 49,398 48,171 97,611 95,674 Less: Gain on sale of real estate — — 1,002 — Less: Retirement defined benefits credit—other than service costs (186) (186) (371) (1,464) *Expenses-Bank 53,401 37,454 98,486 79,289 *Operating income-Bank 21,923 39,806 51,953 75,102 Add back: Retirement defined benefits credit—other than service costs (186) (186) (371) (1,464) Add back: Gain on sale of investment securities, net — — — 528 Income before income taxes $ 22,109 $ 39,992 $ 52,324 $ 77,094 American Savings Bank, F.S.B. Balance Sheets Data (in thousands) June 30, 2022 December 31, 2021 Assets Cash and due from banks $ 128,971 $ 100,051 Interest-bearing deposits 12,054 151,189 Cash and cash equivalents 141,025 251,240 Investment securities Available-for-sale, at fair value 2,444,267 2,574,618 Held-to-maturity, at amortized cost (fair value of $440,023 and $510,474, respectively) 513,767 522,270 Stock in Federal Home Loan Bank, at cost 13,200 10,000 Loans held for investment 5,426,995 5,211,114 Allowance for credit losses (69,456) (71,130) Net loans 5,357,539 5,139,984 Loans held for sale, at lower of cost or fair value 3,738 10,404 Other 659,139 590,897 Goodwill 82,190 82,190 Total assets $ 9,214,865 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,993,900 $ 2,976,632 Deposit liabilities—interest-bearing 5,259,636 5,195,580 Other borrowings 241,610 88,305 Other 187,770 193,268 Total liabilities 8,682,916 8,453,785 Common stock 1 1 Additional paid-in capital 354,966 353,895 Retained earnings 426,040 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (241,301) $ (32,037) Retirement benefit plans (7,757) (249,058) (5,745) (37,782) Total shareholder’s equity 531,949 727,818 Total liabilities and shareholder’s equity $ 9,214,865 $ 9,181,603 Other assets Bank-owned life insurance $ 181,166 $ 177,566 Premises and equipment, net 199,429 202,299 Accrued interest receivable 21,335 20,854 Mortgage-servicing rights 9,696 9,950 Low-income housing investments 104,592 110,989 Real estate acquired in settlement of loans, net 271 — Real estate held for sale 3,030 — Deferred tax asset 84,814 7,699 Other 54,806 61,540 $ 659,139 $ 590,897 Other liabilities Accrued expenses $ 83,915 $ 87,905 Federal and state income taxes payable — — Cashier’s checks 33,747 33,675 Advance payments by borrowers 9,980 9,994 Other 60,128 61,694 $ 187,770 $ 193,268 Bank-owned life insurance is life insurance purchased by ASB on the lives of certain key employees, with ASB as the beneficiary. The insurance is used to fund employee benefits through tax-free income from increases in the cash value of the policies and insurance proceeds paid to ASB upon an insured’s death. Other borrowings consisted of FHLB advances of $80.0 million and nil at June 30, 2022 and December 31, 2021, respectively, and securities sold under agreements to repurchase of $161.6 million and $88.3 million at June 30, 2022 and December 31, 2021, respectively. Investment securities. The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair Amount Number of issues Fair Amount June 30, 2022 Available-for-sale U.S. Treasury and federal agency obligations $ 107,389 $ — $ (4,902) $ 102,487 17 $ 102,487 $ (4,902) — $ — $ — Mortgage-backed securities* 2,606,904 467 (322,185) 2,285,186 180 1,409,947 (158,235) 66 845,879 (163,950) Corporate bonds 44,447 — (3,018) 41,429 5 41,429 (3,018) — — — Mortgage revenue bonds 15,165 — — 15,165 — — — — — — $ 2,773,905 $ 467 $ (330,105) $ 2,444,267 202 $ 1,553,863 $ (166,155) 66 $ 845,879 $ (163,950) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,882 $ — $ (5,997) $ 53,885 3 $ 53,885 $ (5,997) — $ — $ — Mortgage-backed securities* 453,885 — (67,747) 386,138 24 236,918 (35,867) 13 149,220 (31,880) $ 513,767 $ — $ (73,744) $ 440,023 27 $ 290,803 $ (41,864) 13 $ 149,220 $ (31,880) December 31, 2021 Available-for-sale U.S. Treasury and federal agency obligations $ 89,714 $ 803 $ (427) $ 90,090 4 $ 44,827 $ (427) — $ — $ — Mortgage-backed securities* 2,482,618 6,511 (51,206) 2,437,923 120 1,845,243 (38,321) 18 271,012 (12,885) Corporate bonds 30,625 655 (102) 31,178 1 12,780 (102) — — — Mortgage revenue bonds 15,427 — — 15,427 — — — — — — $ 2,618,384 $ 7,969 $ (51,735) $ 2,574,618 125 $ 1,902,850 $ (38,850) 18 $ 271,012 $ (12,885) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,871 $ 168 $ (170) $ 59,869 2 $ 39,594 $ (170) — $ — $ — Mortgage-backed securities* 462,399 1,480 (13,274) 450,605 22 290,883 (7,665) 7 106,483 (5,609) $ 522,270 $ 1,648 $ (13,444) $ 510,474 24 $ 330,477 $ (7,835) 7 $ 106,483 $ (5,609) * Issued or guaranteed by U.S. Government agencies or sponsored agencies ASB does not believe that the investment securities that were in an unrealized loss position at June 30, 2022 and December 31, 2021, represent a credit loss. Total gross unrealized losses were primarily attributable to change in market conditions. On a quarterly basis the investment securities are evaluated for changes in financial condition of the issuer. Based upon ASB’s evaluation, all securities held within the investment portfolio continue to be investment grade by one or more agencies. The contractual cash flows of the U.S. Treasury, federal agency obligations and agency mortgage-backed securities are backed by the full faith and credit guaranty of the United States government or an agency of the government. ASB does not intend to sell the securities before the recovery of its amortized cost basis and there have been no adverse changes in the timing of the contractual cash flows for the securities. ASB’s investment securities portfolio did not require an allowance for credit losses at June 30, 2022 and December 31, 2021. U.S. Treasury, federal agency obligations, corporate bonds, and mortgage revenue bonds have contractual terms to maturity. Mortgage-backed securities have contractual terms to maturity, but require periodic payments to reduce principal. In addition, expected maturities will differ from contractual maturities because borrowers have the right to prepay the underlying mortgages. The contractual maturities of investment securities were as follows: June 30, 2022 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 15,807 $ 15,781 Due after one year through five years 84,406 81,286 Due after five years through ten years 66,788 62,014 Due after ten years — — 167,001 159,081 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 2,606,904 2,285,186 Total available-for-sale securities $ 2,773,905 $ 2,444,267 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 59,882 53,885 Due after ten years — — 59,882 53,885 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 453,885 386,138 Total held-to-maturity securities $ 513,767 $ 440,023 The proceeds, gross gains and losses from sales of available-for-sale securities were as follows: Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 Proceeds $ — $ — $ — $ 197,354 Gross gains — — — 975 Gross losses — — — 447 Tax expense on realized gains — — — 142 The components of loans were summarized as follows: June 30, 2022 December 31, 2021 (in thousands) Real estate: Residential 1-4 family $ 2,310,041 $ 2,299,212 Commercial real estate 1,261,389 1,056,982 Home equity line of credit 923,976 835,663 Residential land 21,535 19,859 Commercial construction 94,060 91,080 Residential construction 19,230 11,138 Total real estate 4,630,231 4,313,934 Commercial 660,478 793,304 Consumer 148,637 113,966 Total loans 5,439,346 5,221,204 Less: Deferred fees and discounts (12,351) (10,090) Allowance for credit losses (69,456) (71,130) Total loans, net $ 5,357,539 $ 5,139,984 ASB's policy is to require private mortgage insurance on all real estate loans when the loan-to-value ratio of the property exceeds 80% of the lower of the appraised value or purchase price at origination. For non-owner occupied residential property purchases, the loan-to-value ratio may not exceed 75% of the lower of the appraised value or purchase price at origination. Allowance for credit losses. The allowance for credit losses (balances and changes) by portfolio segment were as follows: (in thousands) Residential Commercial real Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Total Three months ended June 30, 2022 Allowance for credit losses: Beginning balance $ 7,874 $ 20,176 $ 5,650 $ 697 $ 2,340 $ 31 $ 14,314 $ 16,129 $ 67,211 Charge-offs — — — — — — (148) (1,369) (1,517) Recoveries 3 — 31 96 — — 399 976 1,505 Provision 643 724 415 (116) 294 15 (2,152) 2,434 2,257 Ending balance $ 8,520 $ 20,900 $ 6,096 $ 677 $ 2,634 $ 46 $ 12,413 $ 18,170 $ 69,456 Three months ended June 30, 2021 Allowance for credit losses: Beginning balance $ 5,261 $ 34,345 $ 5,901 $ 573 $ 1,453 $ 16 $ 24,504 $ 19,740 $ 91,793 Charge-offs (20) — 10 — — — (319) (1,931) (2,260) Recoveries 51 — 61 11 — — 366 1,187 1,676 Provision 226 (5,637) (637) 34 176 — (4,493) (2,626) (12,957) Ending balance $ 5,518 $ 28,708 $ 5,335 $ 618 $ 1,629 $ 16 $ 20,058 $ 16,370 $ 78,252 Six months ended June 30, 2022 Allowance for credit losses: Beginning balance $ 6,545 $ 24,696 $ 5,657 $ 646 $ 2,186 $ 18 $ 15,798 $ 15,584 $ 71,130 Charge-offs — — — — — — (224) (2,851) (3,075) Recoveries 11 — 42 101 — — 752 2,001 2,907 Provision 1,964 (3,796) 397 (70) 448 28 (3,913) 3,436 (1,506) Ending balance $ 8,520 $ 20,900 $ 6,096 $ 677 $ 2,634 $ 46 $ 12,413 $ 18,170 $ 69,456 Six months ended June 30, 2021 Allowance for credit losses: Beginning balance $ 4,600 $ 35,607 $ 6,813 $ 609 $ 4,149 $ 11 $ 25,462 $ 23,950 $ 101,201 Charge-offs (20) — (40) — — — (1,090) (4,791) (5,941) Recoveries 54 — 76 21 — — 639 2,194 2,984 Provision 884 (6,899) (1,514) (12) (2,520) 5 (4,953) (4,983) (19,992) Ending balance $ 5,518 $ 28,708 $ 5,335 $ 618 $ 1,629 $ 16 $ 20,058 $ 16,370 $ 78,252 Allowance for loan commitments. The allowance for loan commitments by portfolio segment were as follows: (in thousands) Home equity Commercial construction Commercial loans Total Three months ended June 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,600 $ 1,400 $ 5,400 Provision — 500 — 500 Ending balance $ 400 $ 4,100 $ 1,400 $ 5,900 Three months ended June 30, 2021 Allowance for loan commitments: Beginning balance $ 400 $ 1,300 $ 1,200 $ 2,900 Provision — 1,100 (350) 750 Ending balance $ 400 $ 2,400 $ 850 $ 3,650 Six months ended June 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,700 $ 800 $ 4,900 Provision — 400 600 1,000 Ending balance $ 400 $ 4,100 $ 1,400 $ 5,900 Six months ended June 30, 2021 Allowance for loan commitments: Beginning balance $ 300 $ 3,000 $ 1,000 $ 4,300 Provision 100 (600) (150) (650) Ending balance $ 400 $ 2,400 $ 850 $ 3,650 Credit quality . ASB performs an internal loan review and grading on an ongoing basis. The review provides management with periodic information as to the quality of the loan portfolio and effectiveness of its lending policies and procedures. The objectives of the loan review and grading procedures are to identify, in a timely manner, existing or emerging credit trends so that appropriate steps can be initiated to manage risk and avoid or minimize future losses. Loans subject to grading include commercial, commercial real estate and commercial construction loans. Each commercial and commercial real estate loan is assigned an Asset Quality Rating (AQR) reflecting the likelihood of repayment or orderly liquidation of that loan transaction pursuant to regulatory credit classifications: Pass, Special Mention, Substandard, Doubtful, and Loss. The AQR is a function of the probability of default model rating, the loss given default, and possible non-model factors which impact the ultimate collectability of the loan such as character of the business owner/guarantor, interim period performance, litigation, tax liens and major changes in business and economic conditions. Pass exposures generally are well protected by the current net worth and paying capacity of the obligor or by the value of the asset or underlying collateral. Special Mention loans have potential weaknesses that, if left uncorrected, could jeopardize the liquidation of the debt. Substandard loans have well-defined weaknesses that jeopardize the liquidation of the debt and are characterized by the distinct possibility that ASB may sustain some loss. An asset classified Doubtful has the weaknesses of those classified Substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. An asset classified Loss is considered uncollectible and has such little value that its continuance as a bankable asset is not warranted. The credit risk profile by vintage date based on payment activity or internally assigned grade for loans was as follows: Term Loans by Origination Year Revolving Loans (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Converted to term loans Total June 30, 2022 Residential 1-4 family Current $ 176,333 $ 768,123 $ 437,911 $ 119,503 $ 56,469 $ 742,653 $ — $ — $ 2,300,992 30-59 days past due — — 572 217 453 3,288 — — 4,530 60-89 days past due — — — — — 637 — — 637 Greater than 89 days past due — — — — 809 3,073 — — 3,882 176,333 768,123 438,483 119,720 57,731 749,651 — — 2,310,041 Home equity line of credit Current — — — — — — 881,505 41,295 922,800 30-59 days past due — — — — — — 110 101 211 60-89 days past due — — — — — — 106 83 189 Greater than 89 days past due — — — — — — 423 353 776 — — — — — — 882,144 41,832 923,976 Residential land Current 4,290 9,861 5,410 753 527 283 — — 21,124 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — 109 — — 109 Greater than 89 days past due — — — 205 — 97 — — 302 4,290 9,861 5,410 958 527 489 — — 21,535 Residential construction Current 5,614 11,071 2,297 — — 248 — — 19,230 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 5,614 11,071 2,297 — — 248 — — 19,230 Consumer Current 71,436 28,455 10,209 16,525 3,385 198 11,509 4,235 145,952 30-59 days past due 268 224 68 330 82 2 107 110 1,191 60-89 days past due 74 109 78 161 91 — 45 57 615 Greater than 89 days past due 80 159 67 255 107 — 91 120 879 71,858 28,947 10,422 17,271 3,665 200 11,752 4,522 148,637 Commercial real estate Pass 229,603 171,805 301,360 52,361 61,179 289,835 4,235 — 1,110,378 Special Mention — 19,600 3,488 41,235 14,174 36,958 — — 115,455 Substandard — — 675 11,444 1,835 21,602 — — 35,556 Doubtful — — — — — — — — — 229,603 191,405 305,523 105,040 77,188 348,395 4,235 — 1,261,389 Commercial construction Pass — 35,982 25,123 — 11,341 — 21,614 — 94,060 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — — 35,982 25,123 — 11,341 — 21,614 — 94,060 Commercial Pass 41,268 181,637 87,936 74,326 45,637 87,962 78,344 14,590 611,700 Special Mention — 23 9,702 6,533 101 1,011 15,414 14 32,798 Substandard 315 409 156 2,122 1,548 5,975 4,308 1,147 15,980 Doubtful — — — — — — — — — 41,583 182,069 97,794 82,981 47,286 94,948 98,066 15,751 660,478 Total loans $ 529,281 $ 1,227,458 $ 885,052 $ 325,970 $ 197,738 $ 1,193,931 $ 1,017,811 $ 62,105 $ 5,439,346 Term Loans by Origination Year Revolving Loans (in thousands) 2021 2020 2019 2018 2017 Prior Revolving Converted to term loans Total December 31, 2021 Residential 1-4 family Current $ 791,758 $ 461,683 $ 133,345 $ 64,421 $ 124,994 $ 712,452 $ — $ — $ 2,288,653 30-59 days past due — — — 809 — 2,210 — — 3,019 60-89 days past due — — — — — 1,468 — — 1,468 Greater than 89 days past due — — 2,987 — — 3,085 — — 6,072 791,758 461,683 136,332 65,230 124,994 719,215 — — 2,299,212 Home equity line of credit Current — — — — — — 794,518 39,116 833,634 30-59 days past due — — — — — — 296 313 609 60-89 days past due — — — — — — 16 70 86 Greater than 89 days past due — — — — — — 838 496 1,334 — — — — — — 795,668 39,995 835,663 Residential land Current 10,572 6,794 1,116 532 267 181 — — 19,462 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — 397 — — 397 10,572 6,794 1,116 532 267 578 — — 19,859 Residential construction Current 7,856 3,019 — — 263 — — — 11,138 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 7,856 3,019 — — 263 — — — 11,138 Consumer Current 37,563 15,488 29,383 10,897 302 238 12,740 4,157 110,768 30-59 days past due 202 181 517 234 15 — 156 70 1,375 60-89 days past due 59 127 392 183 8 — 7 106 882 Greater than 89 days past due 14 93 387 192 27 — 141 87 941 37,838 15,889 30,679 11,506 352 238 13,044 4,420 113,966 Commercial real estate Pass 173,794 275,242 49,317 56,490 33,581 259,583 11,602 — 859,609 Special Mention 19,600 3,529 42,935 30,870 20,788 32,824 — — 150,546 Substandard — 684 13,936 1,859 1,805 28,543 — — 46,827 Doubtful — — — — — — — — — 193,394 279,455 106,188 89,219 56,174 320,950 11,602 — 1,056,982 Commercial construction Pass 17,140 43,261 — 11,342 — — 19,337 — 91,080 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 17,140 43,261 — 11,342 — — 19,337 — 91,080 Commercial Pass 266,087 96,963 79,329 56,497 31,019 66,570 96,673 15,510 708,648 Special Mention 40 27,336 10,071 202 439 8,966 15,303 18 62,375 Substandard 427 184 3,737 1,777 4,457 2,961 7,083 1,655 22,281 Doubtful — — — — — — — — — 266,554 124,483 93,137 58,476 35,915 78,497 119,059 17,183 793,304 Total loans $ 1,325,112 $ 934,584 $ 367,452 $ 236,305 $ 217,965 $ 1,119,478 $ 958,710 $ 61,598 $ 5,221,204 Revolving loans converted to term loans during the six months ended June 30, 2022 in the commercial, home equity line of credit and consumer portfolios were $1.0 million, $10.0 million and $1.7 million, respectively. Revolving loans converted to term loans during the six months ended June 30, 2021 in the commercial, home equity line of credit and consumer portfolios were $0.6 million, $9.8 million and $1.5 million, respectively. The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 60-89 Total Current Total Amortized cost> June 30, 2022 Real estate: Residential 1-4 family $ 4,530 $ 637 $ 3,882 $ 9,049 $ 2,300,992 $ 2,310,041 $ — Commercial real estate 472 — — 472 1,260,917 1,261,389 — Home equity line of credit 211 189 776 1,176 922,800 923,976 — Residential land — 109 302 411 21,124 21,535 — Commercial construction — — — — 94,060 94,060 — Residential construction — — — — 19,230 19,230 — Commercial 87 763 9 859 659,619 660,478 — Consumer 1,191 615 879 2,685 145,952 148,637 — Total loans $ 6,491 $ 2,313 $ 5,848 $ 14,652 $ 5,424,694 $ 5,439,346 $ — December 31, 2021 Real estate: Residential 1-4 family $ 3,019 $ 1,468 $ 6,072 $ 10,559 $ 2,288,653 $ 2,299,212 $ — Commercial real estate — — — — 1,056,982 1,056,982 — Home equity line of credit 609 86 1,334 2,029 833,634 835,663 — Residential land — — 397 397 19,462 19,859 — Commercial construction — — — — 91,080 91,080 — Residential construction — — — — 11,138 11,138 — Commercial 700 313 48 1,061 792,243 793,304 — Consumer 1,375 882 941 3,198 110,768 113,966 — Total loans $ 5,703 $ 2,749 $ 8,792 $ 17,244 $ 5,203,960 $ 5,221,204 $ — The credit risk profile based on nonaccrual loans were as follows: (in thousands) June 30, 2022 December 31, 2021 With a Related ACL Without a Related ACL Total With a Related ACL Without a Related ACL Total Real estate: Residential 1-4 family $ 11,487 $ 3,571 $ 15,058 $ 16,045 $ 3,703 $ 19,748 Commercial real estate — — — 14,104 1,221 15,325 Home equity line of credit 3,225 725 3,950 4,227 1,294 5,521 Residential land 205 97 302 97 300 397 Commercial construction — — — — — — Residential construction — — — — — — Commercial 240 899 1,139 1,446 692 2,138 Consumer 1,430 — 1,430 1,845 — 1,845 Total $ 16,587 $ 5,292 $ 21,879 $ 37,764 $ 7,210 $ 44,974 The credit risk profile based on loans whose terms have been modified and accruing interest were as follows: (in thousands) June 30, 2022 December 31, 2021 Real estate: Residential 1-4 family $ 7,690 $ 6,949 Commercial real estate 10,031 3,055 Home equity line of credit 5,037 6,021 Residential land 920 980 Commercial construction — — Residential construction — — Commercial 6,844 7,860 Consumer 51 52 Total troubled debt restructured loans accruing interest $ 30,573 $ 24,917 ASB did not recognize interest on nonaccrual loans for the six months ended June 30, 2022 and 2021. Troubled debt restructurings. A loan modification is deemed to be a TDR when the borrower is determined to be experiencing financial difficulties and ASB grants a concession it would not otherwise consider. The allowance for credit losses on TDR loans that do not share risk characteristics are individually evaluated based on the present value of expected future cash flows discounted at the loan’s effective original contractual rate or based on the fair value of collateral less cost to sell. The financial impact of the estimated loss 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 credit losses. Loans modified as a TDR. Loan modifications that occurred during the three and six months ended June 30, 2022 and 2021 were as follows: Three months ended June 30, 2022 Six months ended June 30, 2022 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 1 381 135 1 381 135 Commercial real estate — — — — — — Home equity line of credit — — — — — — Residential land — — — — — — Commercial construction — — — — — — Residential construction — — — — — — Commercial — — — — — — Consumer — — — — — — 1 $ 381 $ 135 1 $ 381 $ 135 Three months ended June 30, 2021 Six months ended June 30, 2021 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 3 $ 1,835 $ 77 15 $ 10,024 $ 271 Commercial real estate — — — — — — Home equity line of credit — — — 1 163 18 Residential land 1 288 12 2 558 23 Commercial construction — — — — — — Residential construction — — — — — — Commercial 4 237 11 6 296 26 Consumer — — — — — — 8 $ 2,360 $ 100 24 $ 11,041 $ 338 1 The period end balances reflect all paydowns and charge-offs since the modification period. TDRs fully paid off, charged-off, or foreclosed upon by period end are not included. There were no loans modified in TDRs that experienced a payment default of 90 days or more during the second quarter and first six months of 2022 and 2021. If a loan modified in a TDR subsequently defaults, ASB evaluates the loan for further impairment. Based on its evaluation, adjustments may be made in the allocation of the allowance or partial charge-offs may be taken to further write-down the carrying value of the loan. Commitments to lend additional funds to borrowers whose loan terms have been modified in a TDR totaled nil at June 30, 2022 and December 31, 2021. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides that a financial institution may elect to suspend the requirements under GAAP for certain loan modifications that would otherwise be categorized as a TDR and any related impairment for accounting purposes. In response to the COVID-19 pandemic, the Board of Governors of the FRB, the FDIC, the National Credit Union Administration, the OCC, and the Consumer Financial Protection Bureau, in consultation with the state financial regulators (collectively, the agencies) issued a joint interagency statement (issued March 22, 2020; revised statement issued April 7, 2020). Some of the provisions applicable to the Company include, but are not limited to accounting for loan modifications, past due reporting and nonaccrual status and charge-offs. Loan modifications that do not meet the conditions of the CARES Act may still qualify as a modification that does not need to be accounted for as a TDR. The agencies confirmed with the FASB staff that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or insignificant delays in payment. Financial institutions are not expected to designate loans with deferrals granted due to COVID-19 as past due because of the deferral. A loan’s payment date is governed by the due date stipulated in the legal agreement. If a financial institution agrees to a payment deferral, these loans would not be considered past due during the period of the deferral. Lastly, during short-term COVID-19 modifications, these loans generally should not be reported as nonaccrual or as classified. Collateral-dependent loans. A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the operation or sale of the collateral. Loans considered collateral-dependent were as follows: Amortized cost (in thousands) June 30, 2022 December 31, 2021 Collateral type Real estate: Residential 1-4 family $ 4,070 $ 3,493 Residential real estate property Commercial real estate — 1,221 Commercial real estate property Home equity line of credit 706 1,294 Residential real estate property Residential land 97 300 Residential real estate property Total real estate 4,873 6,308 Commercial 205 692 Business assets Total $ 5,078 $ 7,000 ASB had $3.2 million and $3.4 million of mortgage loans collateralized by residential real estate property that were in the process of foreclosure at June 30, 2022 and December 31, 2021, respectively. Mortgage servicing rights (MSRs) . In its mortgage banking business, ASB sells residential mortgage loans to government-sponsored entities and other parties, who may issue securities backed by pools of such loans. ASB retains no beneficial interests in these loans other than the servicing rights of certain loans sold. ASB received proceeds from the sale of residential mortgages of $38.7 million and $95.6 million for the three months ended June 30, 2022 and 2021, respectively, and recognized gains on such sales of $0.3 million and $1.9 million for the three months ended June 30, 2022 and 2021, respectively. ASB received proceeds from the sale of residential mortgages of $114.3 million and $266.5 million for the six months ended June 30, 2022 and 2021, respectively, and recognized gains on such sales of $1.4 million and $6.2 million for the six months ended June 30, 2022 and 2021, respectively. There were no repurchased mortgage loans for the six months ended June 30, 2022 and 2021. Mortgage servicing fees, a component of other income, net, were $0.9 million and $1.0 million for the three months ended June 30, 2022 and 2021, respectively, and $1.8 million and $1.9 million for the six months ended June 30, 2022 and 2021, respectively. Changes in the carrying value of MSRs were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net June 30, 2022 $ 19,341 $ (9,645) $ — $ 9,696 December 31, 2021 18,674 (8,724) — 9,950 Changes related to MSRs were as follows: Three months ended June 30, Six months ended June 30 (in thousands) 2022 2021 2022 2021 Mortgage servicing rights Beginning balance $ 10,024 $ 10,689 $ 9,950 $ 10,280 Amount capitalized 204 1,023 923 2,570 Amortization (532) (958) (1,177) (2,096) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 9,696 10,754 9,696 10,754 Valuation allowance for mortgage servicing rights Beginning balance — 4 — 260 Provision — (4) — (260) Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 9,696 $ 10,754 $ 9,696 $ 10,754 ASB capitalizes MSRs acquired upon the sale of mortgage loans with servicing rights retained. On a monthly basis, ASB compares the net carrying value of the MSRs to its fair value to determine if there are any changes to the valuation allowance and/or other-than-temporary impairment for the MSRs. ASB uses a present value cash flow model to estimate the fair value of MSRs. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servicing fees included in “Revenues - bank” in the condensed consolidated statements of income. A direct write-down is recorded when the recoverability of the valuation allowance is deemed to be unrecoverable. Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows: (dollars in thousands) June 30, 2022 December 31, 2021 Unpaid principal balance $ 1,483,877 $ 1,481,899 Weighted average note rate 3.34 % 3.38 % Weighted average discount rate 9.25 % 9.25 % Weighted average prepayment speed 6.55 % 9.77 % 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) June 30, 2022 December 31, 2021 Prepayment rate: 25

Credit agreement and changes in

Credit agreement and changes in debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Credit agreement and changes in debt	Credit agreement and changes in debt On May 14, 2021, HEI and Hawaiian Electric each entered into a separate agreement with a syndicate of nine financial institutions (the HEI Facility and Hawaiian Electric Facility, respectively, and together, the Credit Facilities) to amend and restate their respective previously existing revolving unsecured credit agreements. The $175 million HEI Facility and $200 million Hawaiian Electric Facility both terminate on May 14, 2026. On February 18, 2022, the PUC approved Hawaiian Electric’s request to extend the term of the $200 million Hawaiian Electric Facility to May 14, 2026. In addition to extending the term, Hawaiian Electric also received PUC approval to exercise its options of two one-year extensions of the commitment termination date and to increase its aggregate revolving commitment amount from $200 million to $275 million, should there be a need. None of the facilities are collateralized. As of June 30, 2022 and December 31, 2021, no amounts were outstanding under the Credit Facilities. The Credit Facilities will be maintained to support each company’s respective short-term commercial paper program, but may be drawn on to meet each company’s respective working capital needs and general corporate purposes. Changes in debt . On May 11, 2022, the Utilities executed, through a private placement pursuant to separate Note Purchase Agreements (the Note Purchase Agreements), the following unsecured senior notes bearing taxable interest (the Notes). The Notes had a delayed draw feature and the Utilities drew down all the proceeds on June 15, 2022. Series 2022A Aggregate principal amount $60 million Fixed coupon interest rate 3.7% Maturity date 6/15/2032 Principal amount by company: Hawaiian Electric $40 million Hawaii Electric Light $10 million Maui Electric $10 million The Notes include substantially the same financial covenants and customary conditions as Hawaiian Electric’s credit agreement. Hawaiian Electric is also a party as guarantor under the Note Purchase Agreements entered into by Hawaii Electric Light and Maui Electric. The Utilities did not obtain any of the proceeds at execution and instead drew down all the proceeds on June 15, 2022. The proceeds were used to finance their respective capital expenditures, repay short-term debt used to finance or refinance capital expenditures and/or reimburse funds used for the payment of capital expenditures. The Notes may be prepaid in whole or in part at any time at the prepayment price of the principal amount plus a “Make-Whole Amount.”

Shareholders' equity

Shareholders' equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Shareholders' equity	Shareholders' equity Accumulated other comprehensive income/(loss) . Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized gains (losses) on derivatives Retirement benefit plans AOCI AOCI-Retirement benefit plans Balance, December 31, 2021 $ (32,037) $ (3,638) $ (16,858) $ (52,533) $ (3,280) Current period other comprehensive income (loss) (209,264) 3,911 354 (204,999) 102 Balance, June 30, 2022 $ (241,301) $ 273 $ (16,504) $ (257,532) $ (3,178) Balance, December 31, 2020 $ 19,986 $ (3,363) $ (17,887) $ (1,264) $ (2,919) Current period other comprehensive income (loss) (28,801) 861 396 (27,544) 69 Balance, June 30, 2021 $ (8,815) $ (2,502) $ (17,491) $ (28,808) $ (2,850) Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 HEI consolidated Net realized gains on securities included in net income $ — $ — $ — $ (387) Gain on sale of investment securities, net Net realized losses on derivatives qualifying as cash flow hedges 53 — 108 — Interest expense Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 122 6,008 4,623 12,018 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 56 (5,811) (4,269) (11,622) See Note 9 for additional details Total reclassifications $ 231 $ 197 $ 462 $ 9 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ (5) $ 5,846 $ 4,371 $ 11,691 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 56 (5,811) (4,269) (11,622) See Note 9 for additional details Total reclassifications $ 51 $ 35 $ 102 $ 69

Interest rate swaps

Interest rate swaps	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest rate swaps	Interest rate swaps The Company uses interest rate swap agreements to fix the variable interest rates on portions of its debt. The purpose of using these derivatives is to reduce the Company’s exposure to the interest rate risk associated with variable-rate borrowings. Under these agreements, the Company pays a fixed interest rate in exchange for a LIBOR- or SOFR-based variable interest rate on a given notional amount. All of the Company’s interest rate swaps are designated and accounted for as cash flow hedges. Changes in the fair value of these derivatives are reported as a component of other comprehensive income and are reclassified into earnings in the period or periods in which the hedged transaction affects earnings. For information regarding the valuation of our interest rate swaps, see Note 13, “Fair value measurements.” Notional amount Fixed interest rate Asset (liability) (in millions) at Effective date Maturity date June 30, 2022 December 31, 2021 $50.0 2.75% 11/21/2022 11/21/2027 $ (0.1) $ — $50.0 2.78% 11/21/2022 11/21/2029 (0.1) — $24.0 4.88% - 5.05% 9/1/2021 - 9/1/2022 9/1/2034 - 9/1/2035 (0.6) (5.3) $13.0 2.79% 11/1/2020 10/1/2031 1.0 0.3 The asset related to the interest rate swaps as of June 30, 2022, is presented within other assets in the condensed consolidated balance sheet. The liability related to the interest rate swaps as of December 31, 2021, is presented within other liabilities. The changes in fair value of the cash flow hedges are recorded in accumulated other comprehensive income (loss) and subsequently reclassified into interest expense as interest is incurred on the related variable-rate debt. The following table provides the pre-tax gain (loss) of the derivative instruments in the Company's condensed consolidated statement of comprehensive income (loss) during the three and six months ended June 30, 2022 and 2021: Three months ended June 30 Six months ended June 30 (in millions) 2022 2021 2022 2021 Gain (loss) on interest rate swaps designated as cash flow hedges recognized in other comprehensive income $ 1.1 $ (0.9) $ 5.1 $ 1.2 As of June 30, 2022, the amount the Company expects to reclassify out of net gains (losses) on derivative instruments from accumulated other comprehensive income to earnings during the next 12 months is not expected to be material.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue from contracts with customers. The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Three months ended June 30, 2022 Six months ended June 30, 2022 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 259,433 $ — $ — $ 259,433 $ 484,007 $ — $ — $ 484,007 Electric energy sales - commercial 264,701 — — 264,701 484,298 — — 484,298 Electric energy sales - large light and power 293,847 — — 293,847 534,970 — — 534,970 Electric energy sales - other 4,873 — — 4,873 6,299 — — 6,299 Bank fees — 11,797 — 11,797 — 24,793 — 24,793 Other sales — — 1,333 1,333 — — 2,448 2,448 Total revenues from contracts with customers 822,854 11,797 1,333 835,984 1,509,574 24,793 2,448 1,536,815 Revenues from other sources Regulatory revenue $ (11,428) $ — $ — $ (11,428) $ 1,458 $ — $ — $ 1,458 Bank interest and dividend income — 62,822 — 62,822 — 122,811 — 122,811 Other bank noninterest income — 705 — 705 — 2,835 — 2,835 Other 7,447 — 77 7,524 16,633 — 123 16,756 Total revenues from other sources (3,981) 63,527 77 59,623 18,091 125,646 123 143,860 Total revenues $ 818,873 $ 75,324 $ 1,410 $ 895,607 $ 1,527,665 $ 150,439 $ 2,571 $ 1,680,675 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,797 $ — $ 11,797 $ — $ 24,793 $ — $ 24,793 Services/goods transferred over time 822,854 — 1,333 824,187 1,509,574 — 2,448 1,512,022 Total revenues from contracts with customers $ 822,854 $ 11,797 $ 1,333 $ 835,984 $ 1,509,574 $ 24,793 $ 2,448 $ 1,536,815 Three months ended June 30, 2021 Six months ended June 30, 2021 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 196,318 $ — $ — $ 196,318 $ 377,557 $ — $ — $ 377,557 Electric energy sales - commercial 192,103 — — 192,103 360,568 — — 360,568 Electric energy sales - large light and power 201,536 — — 201,536 378,351 — — 378,351 Electric energy sales - other 2,212 — — 2,212 4,691 — — 4,691 Bank fees — 11,569 — 11,569 — 22,947 — 22,947 Other sales — — 1,089 1,089 — — 2,013 2,013 Total revenues from contracts with customers 592,169 11,569 1,089 604,827 1,121,167 22,947 2,013 1,146,127 Revenues from other sources Regulatory revenue 2,854 — — 2,854 31,283 — — 31,283 Bank interest and dividend income — 62,066 — 62,066 — 120,686 — 120,686 Other bank noninterest income — 3,625 — 3,625 — 10,758 — 10,758 Other 6,856 — 29 6,885 14,293 — 56 14,349 Total revenues from other sources 9,710 65,691 29 75,430 45,576 131,444 56 177,076 Total revenues $ 601,879 $ 77,260 $ 1,118 $ 680,257 $ 1,166,743 $ 154,391 $ 2,069 $ 1,323,203 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,569 $ — $ 11,569 $ — $ 22,947 $ — $ 22,947 Services/goods transferred over time 592,169 — 1,089 593,258 1,121,167 — 2,013 1,123,180 Total revenues from contracts with customers $ 592,169 $ 11,569 $ 1,089 $ 604,827 $ 1,121,167 $ 22,947 $ 2,013 $ 1,146,127 There are no material contract assets or liabilities associated with revenues from contracts with customers existing at December 31, 2021 or as of June 30, 2022. Accounts receivable and unbilled revenues related to contracts with customers represent an unconditional right to consideration since all performance obligations have been satisfied. These amounts are disclosed as accounts receivable and unbilled revenues, net on HEI’s condensed consolidated balance sheets and customer accounts receivable, net and accrued unbilled revenues, net on Hawaiian Electric’s condensed consolidated balance sheets. As of June 30, 2022, the Company had no material remaining performance obligations due to the nature of the Company’s contracts with its customers. For the Utilities, performance obligations are fulfilled as electricity is delivered to customers. For ASB, fees are recognized when a transaction is completed.

Retirement benefits

Retirement benefits	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Retirement benefits	Retirement benefits Defined benefit pension and other postretirement benefit plans information. For the first six months of 2022, the Company contributed $21 million ($20 million by the Utilities) to its pension and other postretirement benefit plans, compared to $23 million ($23 million by the Utilities) in the first six months of 2021. The Company’s current estimate of total contributions to its pension and other postretirement benefit plans in 2022 is $41 million ($41 million by the Utilities), compared to $52 million ($51 million by the Utilities) in 2021. In addition, the Company expects to pay directly $3 million ($1 million by the Utilities) of benefits in 2022, compared to $1 million ($1 million by the Utilities) paid in 2021. The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended June 30 Six months ended June 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2022 2021 2022 2021 2022 2021 2022 2021 HEI consolidated Service cost $ 19,823 $ 20,465 $ 657 $ 705 $ 39,647 $ 40,929 $ 1,313 $ 1,410 Interest cost 19,810 18,800 1,638 1,569 39,621 37,601 3,275 3,138 Expected return on plan assets (35,331) (33,068) (3,398) (3,232) (70,664) (66,135) (6,795) (6,465) Amortization of net prior period gain — — (232) (384) — — (464) (767) Amortization of net actuarial (gain)/losses 1 6,297 8,431 (3) 44 12,594 9,987 (6) 298 Net periodic pension/benefit cost (return) 10,599 14,628 (1,338) (1,298) 21,198 22,382 (2,677) (2,386) Impact of PUC D&Os 9,552 5,513 1,217 1,176 19,103 16,680 2,436 2,146 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 20,151 $ 20,141 $ (121) $ (122) $ 40,301 $ 39,062 $ (241) $ (240) Hawaiian Electric consolidated Service cost $ 19,317 $ 19,993 $ 649 $ 698 $ 38,635 $ 39,987 $ 1,298 $ 1,397 Interest cost 18,461 17,531 1,572 1,504 36,923 35,062 3,145 3,008 Expected return on plan assets (33,545) (31,367) (3,345) (3,182) (67,091) (62,735) (6,692) (6,364) Amortization of net prior period gain — — (231) (382) — — (462) (765) Amortization of net actuarial losses 1 6,125 8,212 — 43 12,250 10,771 — 293 Net periodic pension/benefit cost (return) 10,358 14,369 (1,355) (1,319) 20,717 23,085 (2,711) (2,431) Impact of PUC D&Os 9,552 5,513 1,217 1,176 19,103 16,680 2,436 2,146 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 19,910 $ 19,882 $ (138) $ (143) $ 39,820 $ 39,765 $ (275) $ (285) 1 Six months ended June 30, 2021 amounts include the one-time cumulative impact of the change in accounting principle for the plans’ fixed income securities from the calculated market-related value method to the fair value method, which was recorded in the first quarter of 2021. HEI consolidated recorded retirement benefits expense of $24 million ($23 million by the Utilities) in the first six months of 2022 and $23 million ($23 million by the Utilities) in the first six months of 2021 and charged the remaining net periodic benefit cost primarily to electric utility plant. The Utilities have implemented pension and OPEB tracking mechanisms under which all of their retirement benefit expenses (except for executive life and nonqualified pension plan expenses) determined in accordance with GAAP are recovered over time. Under the tracking mechanisms, any actual costs determined in accordance with GAAP that are over/under amounts allowed in rates are charged/credited to a regulatory asset/liability. The regulatory asset/liability for each utility will then be amortized over 5 years beginning with the respective utility’s next rate case. Defined contribution plans information. For the first six months of 2022 and 2021, the Company’s expenses for its defined contribution plans under the Hawaiian Electric Industries Retirement Savings Plan (HEIRSP) and the ASB 401(k) Plan were $4.1 million and $3.2 million, respectively, and cash contributions were $3.5 million and $3.2 million, respectively. For the first six months of 2022 and 2021, the Utilities’ expenses and cash contributions for its defined contribution plan under the HEIRSP were $1.8 million and $1.5 million, respectively. Retirement benefit plan changes. On December 3, 2021, the Utilities’ union members ratified a new collective bargaining agreement, which included changes to retirement benefits for all new employees commencing employment on or after January 1, 2022. The changes ratified in the collective bargaining agreement apply to all employees of HEI and the Utilities first hired on or after January 1, 2022 (New Employees). New Employees are not eligible to participate in the HEI Pension Plan. Instead, New Employees will receive a non-elective employer contribution, equal to 10% of their annual compensation, subject to a vesting schedule, to their account under the HEIRSP, the defined contribution plan for HEI and the Utilities. Only New Employees are impacted by the retirement benefit plan changes. There are no retirement benefit plan changes for employees hired on or before December 31, 2021.

Share-based compensation

Share-based compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [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 were added to the shares available for issuance under these programs. As of June 30, 2022, approximately 2.8 million shares remained available for future issuance under the terms of the EIP, assuming recycling of shares withheld to satisfy statutory tax liabilities relating to EIP awards, including an estimated 0.6 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 June 30, 2022, there were 209,592 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 June 30 Six months ended June 30 (in millions) 2022 2021 2022 2021 HEI consolidated Share-based compensation expense 1 $ 3.5 $ 2.9 $ 5.6 $ 5.5 Income tax benefit 0.8 0.5 1.1 1.0 Hawaiian Electric consolidated Share-based compensation expense 1 1.0 0.9 1.6 2.0 Income tax benefit 0.3 0.2 0.4 0.4 1 For the three and six months ended June 30, 2022 and 2021, the Company has not capitalized any share-based compensation. Stock awards. HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows: Three months ended June 30 Six months ended June 30 (dollars in millions) 2022 2021 2022 2021 Shares granted 34,755 29,320 34,755 29,320 Fair value $ 1.4 $ 1.2 $ 1.4 $ 1.2 Income tax benefit 0.4 0.3 0.4 0.3 The number of shares issued to each nonemployee director of HEI, Hawaiian Electric and ASB is determined based on the closing price of HEI common stock on the grant date. Restricted stock units. Information about HEI’s grants of restricted stock units was as follows: Three months ended June 30 Six months ended June 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 208,345 $ 39.71 236,191 $ 37.91 233,448 $ 38.10 193,939 $ 40.89 Granted 2,008 42.15 4,894 44.61 98,463 41.31 132,492 34.37 Vested (1,034) 44.31 (292) 38.77 (91,414) 37.65 (79,280) 38.51 Forfeited (366) 38.07 (11,018) 38.74 (31,544) 38.77 (17,376) 40.01 Outstanding, end of period 208,953 $ 39.71 229,775 $ 38.02 208,953 $ 39.71 229,775 $ 38.02 Total weighted-average grant-date fair value of shares granted (in millions) $ 0.1 $ 0.2 $ 4.1 $ 4.6 (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 six months ended June 30, 2022 and 2021, total restricted stock units and related dividends that vested had a fair value of $4.0 million and $3.0 million, respectively, and the related tax benefits were $0.6 million and $0.6 million, respectively. As of June 30, 2022, there was $6.2 million of total unrecognized compensation cost related to the nonvested restricted stock units. The cost is expected to be recognized over a weighted-average period of 2.1 years. Long-term incentive plan payable in stock. The 2020-22, 2021-23 and 2022-24 long-term incentive plans (LTIP) provide for performance awards under the EIP of shares of HEI common stock based on the satisfaction of performance goals, including a market condition goal. The number of shares of HEI common stock that may be awarded is fixed on the date the grants are made, subject to the achievement of specified performance levels and calculated dividend equivalents. The potential payout varies from 0% to 200% of the number of target shares, depending on the achievement of the goals. The market condition goal is based on HEI’s total shareholder return (TSR) compared to the Edison Electric Institute Index over the relevant three-year period. The other performance condition goals relate to EPS growth, return on average common equity (ROACE), renewable portfolio standards, carbon emissions reduction, Hawaiian Electric’s net income growth, ASB’s efficiency ratio and strategic initiatives and Pacific Current’s EBITDA growth and return on average invested capital. LTIP linked to TSR . Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended June 30 Six months ended June 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 76,340 $ 47.70 100,053 $ 42.89 90,974 $ 42.86 89,222 $ 42.10 Granted 390 54.92 1,533 41.12 26,469 54.92 45,743 41.12 Vested (issued or unissued and cancelled) — — — — (29,042) 41.07 (32,355) 38.20 Forfeited — — (10,427) 42.82 (11,671) 42.60 (11,451) 43.10 Outstanding, end of period 76,730 $ 47.74 91,159 $ 42.87 76,730 $ 47.74 91,159 $ 42.87 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ 0.1 $ 1.5 $ 1.9 (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 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. A dividend assumption is not required for the Monte Carlo simulation because the grant payout includes dividend equivalents and projected returns include the value of reinvested dividends. The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted: 2022 2021 Risk-free interest rate 1.71 % 0.19 % Expected life in years 3 3 Expected volatility 31.0 % 29.9 % Range of expected volatility for Peer Group 25.4% to 76.7% 25.6% to 102.9% Grant date fair value (per share) $54.92 $41.12 For the six months ended June 30, 2022 and 2021, total vested LTIP awards linked to TSR and related dividends had a fair value of $0.8 million and $0.8 million, respectively, and the related tax benefits were $0.1 million and $0.2 million, respectively. As of June 30, 2022, there was $1.7 million of total unrecognized compensation cost related to the nonvested performance awards payable in shares linked to TSR. The cost is expected to be recognized over a weighted-average period of 1.6 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 June 30 Six months ended June 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 292,151 $ 39.89 335,702 $ 38.04 306,342 $ 38.42 220,715 $ 41.03 Granted 1,560 42.37 6,133 44.49 105,860 41.31 182,977 34.33 Vested — — — — (71,807) 37.68 (43,155) 34.12 Increase above target (cancelled) — — 15,881 42.92 — — 1,277 31.71 Forfeited — — (41,711) 38.27 (46,684) 36.77 (45,809) 38.82 Outstanding, end of period 293,711 $ 39.91 316,005 $ 38.38 293,711 $ 39.91 316,005 $ 38.38 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 0.1 $ 0.3 $ 4.4 $ 6.3 (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 six months ended June 30, 2022 and 2021, total vested LTIP awards linked to other performance conditions and related dividends had a fair value of $3.2 million and $1.7 million, respectively, and the related tax benefits were $0.4 million and $0.4 million, respectively. As of June 30, 2022, there was $5.2 million of total unrecognized compensation cost related to the nonvested shares linked to performance conditions other than TSR. The cost is expected to be recognized over a weighted-average period of 1.6 years.

Income tax

Income tax	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax	Income taxThe Company’s and the Utilities’ effective tax rates (combined federal and state income tax rates) were 20% and 21%, respectively, for the six months ended June 30, 2022. These rates differed from the combined statutory rates, due primarily to the Utilities’ amortization of excess deferred income taxes related to the provision in the 2017 Tax Cuts and Jobs Act that lowered the federal income tax rate from 35% to 21%, the tax benefits derived from the low income housing tax credit investments and the non-taxability of the bank-owned life insurance income. The Company’s and the Utilities’ effective tax rates were each 21% for the six months ended June 30, 2021. In August 2020, the Internal Revenue Service notified the Company that its 2017 and 2018 income tax returns would be examined. The Company was previously audited every year through 2011, at which time the IRS changed their internal policies regarding audit frequency. The audit is still in progress and the Company has responded to all information requests received. The Company has not been notified of any material audit adjustments to date.

Cash flows

Cash flows	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Cash flows	Cash flows Six months ended June 30 2022 2021 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 47 $ 51 Income taxes paid (including refundable credits) 14 14 Income taxes refunded (including refundable credits) 2 — Hawaiian Electric consolidated Interest paid to non-affiliates 34 37 Income taxes paid (including refundable credits) 27 20 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 25 31 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 40 38 Common stock issued (gross) for director and executive/management compensation (financing) 1 9 7 Obligations to fund low income housing investments (investing) — 9 Loans transferred from held for investment to held for sale (investing) — 62 Hawaiian Electric consolidated Electric utility property, plant and equipment Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 22 27 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 37 38 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements

Fair value measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements Fair value measurement and disclosure valuation methodology. The following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value: Short-term borrowings—other than bank . The carrying amount of short-term borrowings approximated fair value because of the short maturity of these instruments. Investment securities . The fair value of ASB’s investment securities is determined quarterly through pricing obtained from independent third-party pricing services or from brokers not affiliated with the trade. Non-binding broker quotes are infrequent and generally occur for new securities that are settled close to the month-end pricing date. The third-party pricing vendors ASB uses for pricing its securities are reputable firms that provide pricing services on a global basis and have processes in place to ensure quality and control. The third-party pricing services use a variety of methods to determine the fair value of securities that fall under Level 2 of ASB’s fair value measurement hierarchy. Among the considerations are quoted prices for similar securities in an active market, yield spreads for similar trades, adjustments for liquidity, size, collateral characteristics, historic and generic prepayment speeds, and other observable market factors. To enhance the robustness of the pricing process, ASB will on a quarterly basis compare its standard third-party vendor’s price with that of another third-party vendor. If the prices are within an acceptable tolerance range, the price of the standard vendor will be accepted. If the variance is beyond the tolerance range, an evaluation will be conducted by ASB and a challenge to the price may be made. Fair value in such cases will be based on the value that best reflects the data and observable characteristics of the security. In all cases, the fair value used will have been independently determined by a third-party pricing vendor or non-affiliated broker. The fair value of the mortgage revenue bonds is estimated using a discounted cash flow model to calculate the present value of future principal and interest payments and, therefore is classified within Level 3 of the valuation hierarchy. Loans held for sale . Residential and commercial loans are carried at the lower of cost or market and are valued using market observable pricing inputs, which are derived from third party loan sales and, therefore, are classified within Level 2 of the valuation hierarchy. Loans held for investment . Fair value of loans held for investment is derived using a discounted cash flow approach which includes an evaluation of the underlying loan characteristics. The valuation model uses loan characteristics which includes product type, maturity dates and the underlying interest rate of the portfolio. This information is input into the valuation models along with various forecast valuation assumptions including prepayment forecasts, to determine the discount rate. These assumptions are derived from internal and third party sources. Since the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Collateral dependent loans . Collateral dependent loans have been adjusted to fair value. When a loan is identified as collateral dependent, the Company measures the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases, the value of the collateral may be estimated as having little or no value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. If it is determined that the value of the collateral dependent loan is less than its recorded investment, the Company recognizes this impairment and adjusts the carrying value of the loan to fair value through the allowance for credit losses. Real estate acquired in settlement of loans . Foreclosed assets are 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 . MSRs are capitalized at fair value based on market data at the time of sale and accounted for in subsequent periods at the lower of amortized cost or fair value. MSRs are evaluated for impairment at each reporting date. ASB's MSRs are stratified based on predominant risk characteristics of the underlying loans including loan type and note rate. For each stratum, fair value is calculated by discounting expected net income streams using discount rates that reflect industry pricing for similar assets. Expected net income streams are estimated based on industry assumptions regarding prepayment expectations and income and expenses associated with servicing residential mortgage loans for others. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servicing fees included in "Revenues - bank" in the consolidated statements of income. A direct write-down is recorded when the recoverability of the valuation allowance is deemed to be unrecoverable. ASB compares the fair value of MSRs to an estimated value calculated by an independent third-party. The third-party relies on both published and unpublished sources of market related assumptions and its own experience and expertise to arrive at a value. ASB uses the third-party value only to assess the reasonableness of its own estimate. ASB includes MSRs within Level 3 of the valuation hierarchy. Time deposits . The fair value of fixed-maturity certificates of deposit was estimated by discounting the future cash flows using the rates currently offered for FHLB advances of similar remaining maturities. Deposit liabilities are classified in Level 2 of the valuation hierarchy. Other borrowings . For advances and repurchase agreements, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of fixed-rate long-term debt—other than bank was obtained from third-party financial services providers based on the current rates offered for debt of the same or similar remaining maturities and from discounting the future cash flows using the current rates offered for debt of the same or similar risks, terms, and remaining maturities. The carrying amount of floating rate long-term debt—other than bank approximated fair value because of the short-term interest reset periods. Long-term debt—other than bank is classified in Level 2 of the valuation hierarchy. Interest rate lock commitments (IRLCs) . The estimated fair value of commitments to originate residential mortgage loans for sale is based on quoted prices for similar loans in active markets. IRLCs are classified as Level 2 measurements. Forward sales commitments . To be announced (TBA) mortgage-backed securities forward commitments are classified as Level 1, and consist of publicly-traded debt securities for which identical fair values can be obtained through quoted market prices in active exchange markets. The fair values of ASB’s best efforts and mandatory delivery loan sale commitments are determined using quoted prices in the market place that are observable and are classified as Level 2 measurements. Interest rate swaps . The Company measures its interest rate swaps at fair value. The fair values of the Company's interest rate swaps are based on the estimated amounts that the Company would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The fair values of the Company's interest rate swaps are classified as a Level 2 measurements. The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total June 30, 2022 Financial assets HEI consolidated Available-for-sale investment securities $ 2,444,267 $ — $ 2,429,102 $ 15,165 $ 2,444,267 Held-to-maturity investment securities 513,767 — 440,023 — 440,023 Loans, net 5,361,277 — 3,737 5,096,243 5,099,980 Mortgage servicing rights 9,696 — — 17,201 17,201 Derivative assets 22,689 27 1,074 — 1,101 Financial liabilities HEI consolidated Deposit liabilities 407,972 — 397,909 — 397,909 Short-term borrowings—other than bank 124,017 — 124,017 — 124,017 Other bank borrowings 241,610 — 241,606 — 241,606 Long-term debt, net—other than bank 2,374,500 — 2,222,491 — 2,222,491 Derivative liabilities 124,000 — 810 — 810 Hawaiian Electric consolidated Short-term borrowings 54,987 — 54,987 — 54,987 Long-term debt, net 1,736,508 — 1,622,996 — 1,622,996 December 31, 2021 Financial assets HEI consolidated Available-for-sale investment securities $ 2,574,618 $ — $ 2,559,191 $ 15,427 $ 2,574,618 Held-to-maturity investment securities 522,270 — 510,474 — 510,474 Loans, net 5,150,388 — 10,403 5,218,121 5,228,524 Mortgage servicing rights 9,950 — — 14,480 14,480 Derivative assets 57,377 — 909 — 909 Financial liabilities HEI consolidated Deposit liabilities 423,976 — 442,361 — 442,361 Short-term borrowings—other than bank 53,998 — 53,998 — 53,998 Other bank borrowings 88,305 — 88,304 — 88,304 Long-term debt, net—other than bank 2,321,937 — 2,624,130 — 2,624,130 Derivative liabilities 57,000 11 5,271 — 5,282 Hawaiian Electric consolidated Long-term debt, net 1,676,402 — 1,955,710 — 1,955,710 Fair value measurements on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were as follows: June 30, 2022 December 31, 2021 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Available-for-sale investment securities (bank segment) Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies $ — $ 2,285,186 $ — $ — $ 2,437,923 $ — U.S. Treasury and federal agency obligations — 102,487 — — 90,090 — Corporate bonds — 41,429 — — 31,178 — Mortgage revenue bonds — — 15,165 — — 15,427 $ — $ 2,429,102 $ 15,165 $ — $ 2,559,191 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 44 $ — $ — $ 638 $ — Forward commitments (bank segment) 1 27 — — — — — Interest rate swap (Other segment) 2 — 1,030 — — 271 — $ 27 $ 1,074 $ — $ — $ 909 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ — $ — Forward commitments (bank segment) 1 — — — 11 — — Interest rate swap (Other segment) 2 — 810 — — 5,271 — $ — $ 810 $ — $ 11 $ 5,271 $ — 1 Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income. 2 Derivatives are included in other assets and other liabilities in the balance sheets. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended June 30 Six months ended June 30 Mortgage revenue bonds 2022 2021 2022 2021 (in thousands) Beginning balance $ 15,296 $ 15,427 $ 15,427 $ 27,185 Principal payments received (131) — (262) (11,758) Purchases — — — — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 15,165 $ 15,427 $ 15,165 $ 15,427 Mortgage revenue bonds are issued by the Department of Budget and Finance of the State of Hawaii. The Company estimates the fair value by using a discounted cash flow model to calculate the present value of estimated future principal and interest payments. The unobservable input used in the fair value measurement is the weighted average discount rate. As of June 30, 2022, the weighted average discount rate was 2.89%, 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. As of June 30, 2022 and December 31, 2021, there were no financial instruments measured at fair value on a nonrecurring basis. For the six months ended June 30, 2022 and 2021, there were no adjustments to fair value for ASB’s loans held for sale. Significant increases (decreases) in any of those inputs in isolation would result in significantly higher (lower) fair value measurements.

Subsequent event

Subsequent event	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent event	Subsequent eventOn July 1, 2022, Mahipapa, LLC (Mahipapa), a wholly owned subsidiary of Pacific Current, acquired Green Energy Team, LLC’s 7.5 MW renewable, firm dispatchable closed-loop biomass-to-energy facility on Kauai. In addition to the biomass facility situated on 65 acres of fee simple land, the acquisition also included machinery and equipment and the assumption of land leases totaling approximately 3,500 acres, upon which the eucalyptus feedstock is grown. The plant sells all of the power it produces to Kauai Island Utility Cooperative under an existing power purchase agreement that expires in 2036. In connection with the acquisition, Mahipapa assumed approximately $61 million of long-term debt in various tranches, which have a final maturity in 2036 for the last tranche. Principal and interest total approximately $1.2 million per quarter. The loan is secured by all of assets of Mahipapa and all equity ownership interests in Mahipapa, excluding certain mobile equipment. Covenants include a debt service coverage ratio and a times interest earned ratio, which must be above 1.0 and 1.05, respectively, in two of the best calendar years out of the three most recent calendar years.

Basis of presentation (Policies

Basis of presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, the instructions to SEC Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In preparing the unaudited condensed consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenues and expenses for the period. Actual results could differ significantly from those estimates.
Recent accounting pronouncements	Recent accounting pronouncements. Credit Losses. In March 2022, Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2022-02, “Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which eliminates the accounting guidance for Troubled Debt Restructurings (TDRs) by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. The amendments in this update also require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, “Financial Instruments-Credit Losses-Measured at Amortized Cost.” Gross write-off information must be included in the vintage disclosures required for public business entities in accordance with paragraph 325-20-50-6, which requires that an entity disclose the amortized cost basis of financing receivables by credit-quality indicator and class of financing receivable by year of origination. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASB is assessing the requirements of the ASU.
Troubled debt restructurings	Troubled debt restructurings. A loan modification is deemed to be a TDR when the borrower is determined to be experiencing financial difficulties and ASB grants a concession it would not otherwise consider. The allowance for credit losses on TDR loans that do not share risk characteristics are individually evaluated based on the present value of expected future cash flows discounted at the loan’s effective original contractual rate or based on the fair value of collateral less cost to sell. The financial impact of the estimated loss 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 credit losses.
Fair value measurements	The following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value: Short-term borrowings—other than bank . The carrying amount of short-term borrowings approximated fair value because of the short maturity of these instruments. Investment securities . The fair value of ASB’s investment securities is determined quarterly through pricing obtained from independent third-party pricing services or from brokers not affiliated with the trade. Non-binding broker quotes are infrequent and generally occur for new securities that are settled close to the month-end pricing date. The third-party pricing vendors ASB uses for pricing its securities are reputable firms that provide pricing services on a global basis and have processes in place to ensure quality and control. The third-party pricing services use a variety of methods to determine the fair value of securities that fall under Level 2 of ASB’s fair value measurement hierarchy. Among the considerations are quoted prices for similar securities in an active market, yield spreads for similar trades, adjustments for liquidity, size, collateral characteristics, historic and generic prepayment speeds, and other observable market factors. To enhance the robustness of the pricing process, ASB will on a quarterly basis compare its standard third-party vendor’s price with that of another third-party vendor. If the prices are within an acceptable tolerance range, the price of the standard vendor will be accepted. If the variance is beyond the tolerance range, an evaluation will be conducted by ASB and a challenge to the price may be made. Fair value in such cases will be based on the value that best reflects the data and observable characteristics of the security. In all cases, the fair value used will have been independently determined by a third-party pricing vendor or non-affiliated broker. The fair value of the mortgage revenue bonds is estimated using a discounted cash flow model to calculate the present value of future principal and interest payments and, therefore is classified within Level 3 of the valuation hierarchy. Loans held for sale . Residential and commercial loans are carried at the lower of cost or market and are valued using market observable pricing inputs, which are derived from third party loan sales and, therefore, are classified within Level 2 of the valuation hierarchy. Loans held for investment . Fair value of loans held for investment is derived using a discounted cash flow approach which includes an evaluation of the underlying loan characteristics. The valuation model uses loan characteristics which includes product type, maturity dates and the underlying interest rate of the portfolio. This information is input into the valuation models along with various forecast valuation assumptions including prepayment forecasts, to determine the discount rate. These assumptions are derived from internal and third party sources. Since the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Collateral dependent loans . Collateral dependent loans have been adjusted to fair value. When a loan is identified as collateral dependent, the Company measures the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases, the value of the collateral may be estimated as having little or no value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. If it is determined that the value of the collateral dependent loan is less than its recorded investment, the Company recognizes this impairment and adjusts the carrying value of the loan to fair value through the allowance for credit losses. Real estate acquired in settlement of loans . Foreclosed assets are 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 . MSRs are capitalized at fair value based on market data at the time of sale and accounted for in subsequent periods at the lower of amortized cost or fair value. MSRs are evaluated for impairment at each reporting date. ASB's MSRs are stratified based on predominant risk characteristics of the underlying loans including loan type and note rate. For each stratum, fair value is calculated by discounting expected net income streams using discount rates that reflect industry pricing for similar assets. Expected net income streams are estimated based on industry assumptions regarding prepayment expectations and income and expenses associated with servicing residential mortgage loans for others. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servicing fees included in "Revenues - bank" in the consolidated statements of income. A direct write-down is recorded when the recoverability of the valuation allowance is deemed to be unrecoverable. ASB compares the fair value of MSRs to an estimated value calculated by an independent third-party. The third-party relies on both published and unpublished sources of market related assumptions and its own experience and expertise to arrive at a value. ASB uses the third-party value only to assess the reasonableness of its own estimate. ASB includes MSRs within Level 3 of the valuation hierarchy. Time deposits . The fair value of fixed-maturity certificates of deposit was estimated by discounting the future cash flows using the rates currently offered for FHLB advances of similar remaining maturities. Deposit liabilities are classified in Level 2 of the valuation hierarchy. Other borrowings . For advances and repurchase agreements, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of fixed-rate long-term debt—other than bank was obtained from third-party financial services providers based on the current rates offered for debt of the same or similar remaining maturities and from discounting the future cash flows using the current rates offered for debt of the same or similar risks, terms, and remaining maturities. The carrying amount of floating rate long-term debt—other than bank approximated fair value because of the short-term interest reset periods. Long-term debt—other than bank is classified in Level 2 of the valuation hierarchy. Interest rate lock commitments (IRLCs) . The estimated fair value of commitments to originate residential mortgage loans for sale is based on quoted prices for similar loans in active markets. IRLCs are classified as Level 2 measurements. Forward sales commitments . To be announced (TBA) mortgage-backed securities forward commitments are classified as Level 1, and consist of publicly-traded debt securities for which identical fair values can be obtained through quoted market prices in active exchange markets. The fair values of ASB’s best efforts and mandatory delivery loan sale commitments are determined using quoted prices in the market place that are observable and are classified as Level 2 measurements. Interest rate swaps . The Company measures its interest rate swaps at fair value. The fair values of the Company's interest rate swaps are based on the estimated amounts that the Company would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The fair values of the Company's interest rate swaps are classified as a Level 2 measurements.

Segment financial information (

Segment financial information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of segment financial information	(in thousands) Electric utility Bank Other Total Three months ended June 30, 2022 Revenues from external customers $ 818,873 $ 75,324 $ 1,410 $ 895,607 Intersegment revenues (eliminations) — — — — Revenues $ 818,873 $ 75,324 $ 1,410 $ 895,607 Income (loss) before income taxes $ 56,613 $ 22,109 $ (12,505) $ 66,217 Income taxes (benefit) 11,979 4,643 (3,419) 13,203 Net income (loss) 44,634 17,466 (9,086) 53,014 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 44,135 $ 17,466 $ (9,060) $ 52,541 Six months ended June 30, 2022 Revenues from external customers $ 1,527,661 $ 150,439 $ 2,575 $ 1,680,675 Intersegment revenues (eliminations) 4 — (4) — Revenues $ 1,527,665 $ 150,439 $ 2,571 $ 1,680,675 Income (loss) before income taxes $ 116,059 $ 52,324 $ (14,686) $ 153,697 Income taxes (benefit) 24,517 10,988 (4,462) 31,043 Net income (loss) 91,542 41,336 (10,224) 122,654 Preferred stock dividends of subsidiaries 998 — (52) 946 Net income (loss) for common stock $ 90,544 $ 41,336 $ (10,172) $ 121,708 Total assets (at June 30, 2022) $ 6,686,996 $ 9,214,865 $ 99,882 $ 16,001,743 Three months ended June 30, 2021 Revenues from external customers $ 601,869 $ 77,260 $ 1,128 $ 680,257 Intersegment revenues (eliminations) 10 — (10) — Revenues $ 601,879 $ 77,260 $ 1,118 $ 680,257 Income (loss) before income taxes $ 53,898 $ 39,992 $ (10,946) $ 82,944 Income taxes (benefit) 11,498 9,708 (2,607) 18,599 Net income (loss) 42,400 30,284 (8,339) 64,345 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 41,901 $ 30,284 $ (8,313) $ 63,872 Six months ended June 30, 2021 Revenues from external customers $ 1,166,724 $ 154,391 $ 2,088 $ 1,323,203 Intersegment revenues (eliminations) 19 — (19) — Revenues $ 1,166,743 $ 154,391 $ 2,069 $ 1,323,203 Income (loss) before income taxes $ 108,988 $ 77,094 $ (22,942) $ 163,140 Income taxes (benefit) 22,731 17,254 (6,021) 33,964 Net income (loss) 86,257 59,840 (16,921) 129,176 Preferred stock dividends of subsidiaries 998 — (52) 946 Net income (loss) for common stock $ 85,259 $ 59,840 $ (16,869) $ 128,230 Total assets (at December 31, 2021) $ 6,491,625 $ 9,181,603 $ 149,409 $ 15,822,637

Electric utility segment (Table

Electric utility segment (Tables)	6 Months Ended
	Jun. 30, 2022
Electric Utility Subsidiary [Abstract]
Schedule of purchases from all IPPs	Purchases from all IPPs were as follows: Three months ended June 30 Six months ended June 30 (in millions) 2022 2021 2022 2021 Kalaeloa $ 83 $ 49 $ 143 $ 86 AES Hawaii 34 36 61 66 HPOWER 19 14 38 31 Hamakua Energy 14 12 30 23 Puna Geothermal Venture 14 7 24 11 Wind IPPs 38 28 56 57 Solar IPPs 13 16 26 28 Other IPPs 1 3 1 4 3 Total IPPs $ 218 $ 163 $ 382 $ 305
Schedule of net annual incremental amounts proposed to be collected (refunded)	The net incremental amounts between the 2021 fall and 2022 spring revenue reports are to be collected (refunded) from June 1, 2022 through May 31, 2023 as follows: (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total Incremental accrued RBA balance through September 30, 2021 (and associated revenue taxes) $ (5.7) $ 2.1 $ (4.7) $ (8.3) Incremental Performance Incentive Mechanisms (net) 1.9 0.4 0.4 2.7 Incremental MPIR/EPRM Revenue Adjustment 1.3 0.8 0.7 2.8 Other (0.1) — — $ (0.1) Net incremental amount to be collected under the RBA rate tariffs $ (2.6) $ 3.3 $ (3.6) $ (2.9)
Schedule of condensed consolidating statements of income (loss)	Condensed Consolidating Statement of Income Three months ended June 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 576,472 124,502 117,928 — (29) $ 818,873 Expenses Fuel oil 184,297 33,065 52,293 — — 269,655 Purchased power 165,202 38,735 14,148 — — 218,085 Other operation and maintenance 82,707 21,331 20,854 — — 124,892 Depreciation 39,501 10,352 8,886 — — 58,739 Taxes, other than income taxes 54,025 11,378 10,945 — — 76,348 Total expenses 525,732 114,861 107,126 — — 747,719 Operating income 50,740 9,641 10,802 — (29) 71,154 Allowance for equity funds used during construction 1,946 217 307 — — 2,470 Equity in earnings of subsidiaries 12,237 — — — (12,237) — Retirement defined benefits credit (expense)—other than service costs 856 167 (32) — — 991 Interest expense and other charges, net (13,519) (2,642) (2,668) — 29 (18,800) Allowance for borrowed funds used during construction 637 67 94 — — 798 Income before income taxes 52,897 7,450 8,503 — (12,237) 56,613 Income taxes 8,492 1,659 1,828 — — 11,979 Net income 44,405 5,791 6,675 — (12,237) 44,634 Preferred stock dividends of subsidiaries — 133 96 — — 229 Net income attributable to Hawaiian Electric 44,405 5,658 6,579 — (12,237) 44,405 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 44,135 5,658 6,579 — (12,237) $ 44,135 Condensed Consolidating Statement of Income Three months ended June 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 422,697 91,512 87,670 — — $ 601,879 Expenses Fuel oil 91,345 19,586 28,205 — — 139,136 Purchased power 124,948 24,236 13,281 — — 162,465 Other operation and maintenance 77,903 19,474 20,765 — — 118,142 Depreciation 38,907 10,053 8,421 — — 57,381 Taxes, other than income taxes 40,301 8,539 8,231 — — 57,071 Total expenses 373,404 81,888 78,903 — — 534,195 Operating income 49,293 9,624 8,767 — — 67,684 Allowance for equity funds used during construction 1,930 140 307 — — 2,377 Equity in earnings of subsidiaries 10,744 — — — (10,744) — Retirement defined benefits credit (expense)—other than service costs 884 169 (33) — — 1,020 Interest expense and other charges, net (12,829) (2,573) (2,593) — — (17,995) Allowance for borrowed funds used during construction 654 48 110 — — 812 Income before income taxes 50,676 7,408 6,558 — (10,744) 53,898 Income taxes 8,505 1,668 1,325 — — 11,498 Net income 42,171 5,740 5,233 — (10,744) 42,400 Preferred stock dividends of subsidiaries — 133 96 — — 229 Net income attributable to Hawaiian Electric 42,171 5,607 5,137 — (10,744) 42,171 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 41,901 5,607 5,137 — (10,744) $ 41,901 Condensed Consolidating Statement of Income Six months ended June 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 1,076,714 233,030 217,956 — (35) $ 1,527,665 Expenses Fuel oil 338,722 58,316 93,903 — — 490,941 Purchased power 289,385 69,447 22,786 — — 381,618 Other operation and maintenance 166,363 41,545 42,241 — — 250,149 Depreciation 78,985 20,703 17,522 — — 117,210 Taxes, other than income taxes 101,299 21,410 20,289 — — 142,998 Total expenses 974,754 211,421 196,741 — — 1,382,916 Operating income 101,960 21,609 21,215 — (35) 144,749 Allowance for equity funds used during construction 3,936 410 533 — — 4,879 Equity in earnings of subsidiaries 25,898 — — — (25,898) — Retirement defined benefits credit (expense)—other than service costs 1,711 334 (64) — — 1,981 Interest expense and other charges, net (26,612) (5,251) (5,298) — 35 (37,126) Allowance for borrowed funds used during construction 1,288 127 161 — — 1,576 Income before income taxes 108,181 17,229 16,547 — (25,898) 116,059 Income taxes 17,097 3,927 3,493 — — 24,517 Net income 91,084 13,302 13,054 — (25,898) 91,542 Preferred stock dividends of subsidiaries — 267 191 — — 458 Net income attributable to Hawaiian Electric 91,084 13,035 12,863 — (25,898) 91,084 Preferred stock dividends of Hawaiian Electric 540 — — — — 540 Net income for common stock $ 90,544 13,035 12,863 — (25,898) $ 90,544 Condensed Consolidating Statement of Income Six months ended June 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 823,251 176,661 166,851 — (20) $ 1,166,743 Expenses Fuel oil 180,073 36,071 50,419 — — 266,563 Purchased power 233,552 45,833 25,376 — — 304,761 Other operation and maintenance 155,238 37,386 40,088 — — 232,712 Depreciation 77,821 20,101 16,814 — — 114,736 Taxes, other than income taxes 78,928 16,532 15,713 — — 111,173 Total expenses 725,612 155,923 148,410 — — 1,029,945 Operating income 97,639 20,738 18,441 — (20) 136,798 Allowance for equity funds used during construction 3,678 272 618 — — 4,568 Equity in earnings of subsidiaries 23,254 — — — (23,254) — Retirement defined benefits credit (expense)—other than service costs 1,770 337 (66) — — 2,041 Interest expense and other charges, net (25,661) (5,154) (5,183) — 20 (35,978) Allowance for borrowed funds used during construction 1,245 92 222 — — 1,559 Income before income taxes 101,925 16,285 14,032 — (23,254) 108,988 Income taxes 16,126 3,719 2,886 — — 22,731 Net income 85,799 12,566 11,146 — (23,254) 86,257 Preferred stock dividends of subsidiaries — 267 191 — — 458 Net income attributable to Hawaiian Electric 85,799 12,299 10,955 — (23,254) 85,799 Preferred stock dividends of Hawaiian Electric 540 — — — — 540 Net income for common stock $ 85,259 12,299 10,955 — (23,254) $ 85,259 Statements of Income and Comprehensive Income Data Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income Interest and fees on loans $ 48,129 $ 51,026 $ 94,134 $ 100,973 Interest and dividends on investment securities 14,693 11,040 28,677 19,713 Total interest and dividend income 62,822 62,066 122,811 120,686 Interest expense Interest on deposit liabilities 921 1,281 1,868 2,743 Interest on other borrowings 139 23 144 50 Total interest expense 1,060 1,304 2,012 2,793 Net interest income 61,762 60,762 120,799 117,893 Provision for credit losses 2,757 (12,207) (506) (20,642) Net interest income after provision for credit losses 59,005 72,969 121,305 138,535 Noninterest income Fees from other financial services 4,716 5,464 10,303 10,537 Fee income on deposit liabilities 4,552 3,904 9,243 7,767 Fee income on other financial products 2,529 2,201 5,247 4,643 Bank-owned life insurance (142) 1,624 539 4,185 Mortgage banking income 372 1,925 1,449 6,225 Gain on sale of real estate — — 1,002 — Gain on sale of investment securities, net — — — 528 Other income, net 475 76 847 348 Total noninterest income 12,502 15,194 28,630 34,233 Noninterest expense Compensation and employee benefits 27,666 27,670 54,881 55,707 Occupancy 5,467 5,100 11,419 10,069 Data processing 4,484 4,533 8,635 8,884 Services 2,522 2,475 4,961 5,337 Equipment 2,402 2,394 4,731 4,616 Office supplies, printing and postage 1,073 978 2,133 2,022 Marketing 934 665 1,952 1,313 FDIC insurance 891 788 1,699 1,604 Other expense 3,959 3,568 7,200 6,122 Total noninterest expense 49,398 48,171 97,611 95,674 Income before income taxes 22,109 39,992 52,324 77,094 Income taxes 4,643 9,708 10,988 17,254 Net income 17,466 30,284 41,336 59,840 Other comprehensive income (loss), net of taxes (88,835) 16,999 (211,276) (28,755) Comprehensive income (loss) $ (71,369) $ 47,283 $ (169,940) $ 31,085 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income $ 62,822 $ 62,066 $ 122,811 $ 120,686 Noninterest income 12,502 15,194 28,630 34,233 Less: Gain on sale of real estate — — 1,002 — Less: Gain on sale of investment securities, net — — — 528 *Revenues-Bank 75,324 77,260 150,439 154,391 Total interest expense 1,060 1,304 2,012 2,793 Provision for credit losses 2,757 (12,207) (506) (20,642) Noninterest expense 49,398 48,171 97,611 95,674 Less: Gain on sale of real estate — — 1,002 — Less: Retirement defined benefits credit—other than service costs (186) (186) (371) (1,464) *Expenses-Bank 53,401 37,454 98,486 79,289 *Operating income-Bank 21,923 39,806 51,953 75,102 Add back: Retirement defined benefits credit—other than service costs (186) (186) (371) (1,464) Add back: Gain on sale of investment securities, net — — — 528 Income before income taxes $ 22,109 $ 39,992 $ 52,324 $ 77,094
Schedule of condensed consolidating statement of comprehensive income	Condensed Consolidating Statement of Comprehensive Income Three months ended June 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income for common stock $ 44,135 5,658 6,579 — (12,237) $ 44,135 Other comprehensive income, net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes (5) (72) 603 — (531) (5) Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes 56 74 (602) — 528 56 Other comprehensive income, net of taxes 51 2 1 — (3) 51 Comprehensive income attributable to common shareholder $ 44,186 5,660 6,580 — (12,240) $ 44,186 Condensed Consolidating Statement of Comprehensive Income Three months ended June 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income for common stock $ 41,901 5,607 5,137 — (10,744) $ 41,901 Other comprehensive income, net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes 5,846 834 761 — (1,595) 5,846 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (5,811) (834) (761) — 1,595 (5,811) Other comprehensive income, net of taxes 35 — — — — 35 Comprehensive income attributable to common shareholder $ 41,936 5,607 5,137 — (10,744) $ 41,936 Condensed Consolidating Statement of Comprehensive Income Six months ended June 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Net income for common stock $ 90,544 13,035 12,863 — (25,898) $ 90,544 Other comprehensive income, net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes 4,371 598 1,206 — (1,804) 4,371 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (4,269) (596) (1,205) — 1,801 (4,269) Other comprehensive income, net of taxes 102 2 1 — (3) 102 Comprehensive income attributable to common shareholder $ 90,646 13,037 12,864 — (25,901) $ 90,646 Condensed Consolidating Statement of Comprehensive Income Six months ended June 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Net income for common stock $ 85,259 12,299 10,955 — (23,254) $ 85,259 Other comprehensive income, net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes 11,691 1,669 1,522 — (3,191) 11,691 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (11,622) (1,668) (1,522) — 3,190 (11,622) Other comprehensive income, net of taxes 69 1 — — (1) 69 Comprehensive income attributable to common shareholder $ 85,328 12,300 10,955 — (23,255) $ 85,328
Schedule of condensed consolidating balance sheet	Condensed Consolidating Balance Sheet June 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,860 5,606 3,594 — — $ 52,060 Plant and equipment 5,178,903 1,399,002 1,262,710 — — 7,840,615 Less accumulated depreciation (1,816,724) (633,559) (576,012) — — (3,026,295) Construction in progress 173,970 20,725 31,984 — — 226,679 Utility property, plant and equipment, net 3,579,009 791,774 722,276 — — 5,093,059 Nonutility property, plant and equipment, less accumulated depreciation 5,300 115 1,532 — — 6,947 Total property, plant and equipment, net 3,584,309 791,889 723,808 — — 5,100,006 Investment in wholly owned subsidiaries, at equity 686,338 — — — (686,338) — Current assets Cash and cash equivalents 6,578 5,754 3,094 77 — 15,503 Restricted cash 1,129 — — — — 1,129 Advances to affiliates 3,000 — 10,000 — (13,000) — Customer accounts receivable, net 176,838 37,631 32,801 — — 247,270 Accrued unbilled revenues, net 128,083 26,245 24,548 — — 178,876 Other accounts receivable, net 20,525 3,063 3,320 — (16,520) 10,388 Fuel oil stock, at average cost 178,911 17,254 27,622 — — 223,787 Materials and supplies, at average cost 43,836 10,001 20,744 — — 74,581 Prepayments and other 27,424 4,911 3,593 — 612 36,540 Regulatory assets 64,999 4,452 4,127 — — 73,578 Total current assets 651,323 109,311 129,849 77 (28,908) 861,652 Other long-term assets Operating lease right-of-use assets 49,326 36,743 13,621 — — 99,690 Regulatory assets 309,077 76,660 71,585 — — 457,322 Other 129,402 19,163 20,280 — (519) 168,326 Total other long-term assets 487,805 132,566 105,486 — (519) 725,338 Total assets $ 5,409,775 1,033,766 959,143 77 (715,765) $ 6,686,996 Capitalization and liabilities Capitalization Common stock equity $ 2,289,595 337,737 348,524 77 (686,338) $ 2,289,595 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,176,691 244,393 263,436 — — 1,684,520 Total capitalization 3,488,579 589,130 616,960 77 (686,338) 4,008,408 Current liabilities Current portion of operating lease liabilities 18,985 6,441 2,550 — — 27,976 Current portion of long-term debt 39,991 11,997 — — — 51,988 Short-term borrowings from non-affiliates 54,987 — — — — 54,987 Short-term borrowings from affiliate 10,000 3,000 — — (13,000) — Accounts payable 156,222 22,524 20,410 — — 199,156 Interest and preferred dividends payable 12,779 2,677 2,350 — (10) 17,796 Taxes accrued, including revenue taxes 145,594 34,157 31,636 — 612 211,999 Regulatory liabilities 14,614 3,532 4,487 — — 22,633 Other 61,438 17,749 18,105 — (16,668) 80,624 Total current liabilities 514,610 102,077 79,538 — (29,066) 667,159 Deferred credits and other liabilities Operating lease liabilities 44,498 30,428 11,185 — — 86,111 Deferred income taxes 285,438 51,403 63,269 — — 400,110 Regulatory liabilities 709,954 182,303 93,185 — — 985,442 Unamortized tax credits 73,441 13,643 13,028 — — 100,112 Defined benefit pension and other postretirement benefit plans liability 216,789 47,783 51,264 — (361) 315,475 Other 76,466 16,999 30,714 — — 124,179 Total deferred credits and other liabilities 1,406,586 342,559 262,645 — (361) 2,011,429 Total capitalization and liabilities $ 5,409,775 1,033,766 959,143 77 (715,765) $ 6,686,996 Condensed Consolidating Balance Sheet December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,737 5,606 3,594 — — $ 51,937 Plant and equipment 5,097,033 1,390,361 1,248,589 — — 7,735,983 Less accumulated depreciation (1,757,096) (619,991) (563,430) — — (2,940,517) Construction in progress 159,854 17,129 27,586 — — 204,569 Utility property, plant and equipment, net 3,542,528 793,105 716,339 — — 5,051,972 Nonutility property, plant and equipment, less accumulated depreciation 5,302 115 1,532 — — 6,949 Total property, plant and equipment, net 3,547,830 793,220 717,871 — — 5,058,921 Investment in wholly owned subsidiaries, at equity 676,237 — — — (676,237) — Current assets Cash and cash equivalents 23,344 5,326 23,422 77 — 52,169 Restricted cash 3,089 — — — — 3,089 Advances to affiliates 1,000 — — — (1,000) — Customer accounts receivable, net 135,949 28,469 22,441 — — 186,859 Accrued unbilled revenues, net 92,469 19,529 17,157 — — 129,155 Other accounts receivable, net 18,624 3,347 3,031 — (17,735) 7,267 Fuel oil stock, at average cost 71,184 12,814 20,080 — — 104,078 Materials and supplies, at average cost 42,006 9,727 20,144 — — 71,877 Prepayments and other 32,140 6,052 7,114 — 725 46,031 Regulatory assets 58,695 3,051 4,918 — — 66,664 Total current assets 478,500 88,315 118,307 77 (18,010) 667,189 Other long-term assets Operating lease right-of-use assets 78,710 22,442 318 — — 101,470 Regulatory assets 337,903 81,645 79,331 — — 498,879 Other 130,546 17,124 18,510 — (1,014) 165,166 Total other long-term assets 547,159 121,211 98,159 — (1,014) 765,515 Total assets $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Capitalization and liabilities Capitalization Common stock equity $ 2,261,899 332,900 343,260 77 (676,237) $ 2,261,899 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,136,620 234,390 253,417 — — 1,624,427 Total capitalization 3,420,812 574,290 601,677 77 (676,237) 3,920,619 Current liabilities Current portion of operating lease liabilities 45,955 3,378 35 — — 49,368 Current portion of long-term debt 39,981 11,994 — — — 51,975 Short-term borrowings-affiliate — 1,000 — — (1,000) — Accounts payable 111,024 26,139 22,844 — — 160,007 Interest and preferred dividends payable 12,442 2,617 2,269 — (3) 17,325 Taxes accrued, including revenue taxes 143,723 33,153 30,679 — 725 208,280 Regulatory liabilities 22,240 3,247 4,273 — — 29,760 Other 56,752 14,158 18,540 — (17,881) 71,569 Total current liabilities 432,117 95,686 78,640 — (18,159) 588,284 Deferred credits and other liabilities Operating lease liabilities 46,426 19,063 291 — — 65,780 Deferred income taxes 291,027 53,298 64,309 — — 408,634 Regulatory liabilities 695,152 179,267 92,589 — — 967,008 Unamortized tax credits 76,201 14,212 13,532 — — 103,945 Defined benefit pension and other postretirement benefit plans liability 220,480 48,900 53,257 — (857) 321,780 Other 67,511 18,030 30,042 — (8) 115,575 Total deferred credits and other liabilities 1,396,797 332,770 254,020 — (865) 1,982,722 Total capitalization and liabilities $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Balance Sheets Data (in thousands) June 30, 2022 December 31, 2021 Assets Cash and due from banks $ 128,971 $ 100,051 Interest-bearing deposits 12,054 151,189 Cash and cash equivalents 141,025 251,240 Investment securities Available-for-sale, at fair value 2,444,267 2,574,618 Held-to-maturity, at amortized cost (fair value of $440,023 and $510,474, respectively) 513,767 522,270 Stock in Federal Home Loan Bank, at cost 13,200 10,000 Loans held for investment 5,426,995 5,211,114 Allowance for credit losses (69,456) (71,130) Net loans 5,357,539 5,139,984 Loans held for sale, at lower of cost or fair value 3,738 10,404 Other 659,139 590,897 Goodwill 82,190 82,190 Total assets $ 9,214,865 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,993,900 $ 2,976,632 Deposit liabilities—interest-bearing 5,259,636 5,195,580 Other borrowings 241,610 88,305 Other 187,770 193,268 Total liabilities 8,682,916 8,453,785 Common stock 1 1 Additional paid-in capital 354,966 353,895 Retained earnings 426,040 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (241,301) $ (32,037) Retirement benefit plans (7,757) (249,058) (5,745) (37,782) Total shareholder’s equity 531,949 727,818 Total liabilities and shareholder’s equity $ 9,214,865 $ 9,181,603 Other assets Bank-owned life insurance $ 181,166 $ 177,566 Premises and equipment, net 199,429 202,299 Accrued interest receivable 21,335 20,854 Mortgage-servicing rights 9,696 9,950 Low-income housing investments 104,592 110,989 Real estate acquired in settlement of loans, net 271 — Real estate held for sale 3,030 — Deferred tax asset 84,814 7,699 Other 54,806 61,540 $ 659,139 $ 590,897 Other liabilities Accrued expenses $ 83,915 $ 87,905 Federal and state income taxes payable — — Cashier’s checks 33,747 33,675 Advance payments by borrowers 9,980 9,994 Other 60,128 61,694 $ 187,770 $ 193,268
Schedule of condensed consolidating statement of changes in common stock equity	Condensed Consolidating Statement of Changes in Common Stock Equity Six months ended June 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2021 $ 2,261,899 332,900 343,260 77 (676,237) $ 2,261,899 Net income for common stock 90,544 13,035 12,863 — (25,898) 90,544 Other comprehensive income, net of taxes 102 2 1 — (3) 102 Common stock dividends (62,950) (8,200) (7,600) — 15,800 (62,950) Balance, June 30, 2022 $ 2,289,595 337,737 348,524 77 (686,338) $ 2,289,595 Condensed Consolidating Statement of Changes in Common Stock Equity Six months ended June 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2020 $ 2,141,918 317,451 309,363 77 (626,891) $ 2,141,918 Net income for common stock 85,259 12,299 10,955 — (23,254) 85,259 Other comprehensive income, net of taxes 69 1 — — (1) 69 Common stock dividends (55,850) (7,300) (7,550) — 14,850 (55,850) Balance, June 30, 2021 $ 2,171,396 322,451 312,768 77 (635,296) $ 2,171,396
Schedule of condensed consolidating statement of cash flows	Condensed Consolidating Statement of Cash Flows Six months ended June 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 25,367 19,742 14,841 — (15,800) $ 44,150 Cash flows from investing activities Capital expenditures (87,892) (23,638) (28,715) — — (140,245) Advances to affiliates (2,000) — (10,000) — 12,000 — Other 4,471 834 1,380 — — 6,685 Net cash used in investing activities (85,421) (22,804) (37,335) — 12,000 (133,560) Cash flows from financing activities Common stock dividends (62,950) (8,200) (7,600) — 15,800 (62,950) Preferred stock dividends of Hawaiian Electric and subsidiaries (540) (267) (191) — — (998) Proceeds from issuance of long-term debt 40,000 10,000 10,000 — — 60,000 Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 64,987 2,000 — — (12,000) 54,987 Other (169) (43) (43) — — (255) Net cash provided by financing activities 41,328 3,490 2,166 — 3,800 50,784 Net increase (decrease) in cash, cash equivalents and restricted cash (18,726) 428 (20,328) — — (38,626) Cash, cash equivalents and restricted cash, beginning of period 26,433 5,326 23,422 77 — 55,258 Cash, cash equivalents and restricted cash, end of period 7,707 5,754 3,094 77 — 16,632 Less: Restricted cash (1,129) — — — — (1,129) Cash and cash equivalents, end of period $ 6,578 5,754 3,094 77 — $ 15,503 Condensed Consolidating Statement of Cash Flows Six months ended June 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 43,623 15,315 13,365 — (14,850) $ 57,453 Cash flows from investing activities Capital expenditures (92,352) (22,135) (23,538) — — (138,025) Advances from affiliates 22,900 — — — (22,900) — Other 3,087 911 672 — — 4,670 Net cash used in investing activities (66,365) (21,224) (22,866) — (22,900) (133,355) Cash flows from financing activities Common stock dividends (55,850) (7,300) (7,550) — 14,850 (55,850) Preferred stock dividends of Hawaiian Electric and subsidiaries (540) (267) (191) — — (998) Repayment of short-term debt (50,000) — — — — (50,000) Proceeds from issuance of long-term debt 60,000 30,000 25,000 — — 115,000 Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 37,999 (15,700) (7,200) — 22,900 37,999 Other (703) (116) (122) — — (941) Net cash provided by (used in) financing activities (9,094) 6,617 9,937 — 37,750 45,210 Net increase (decrease) in cash, cash equivalents and restricted cash (31,836) 708 436 — — (30,692) Cash, cash equivalents and restricted cash, beginning of period 58,171 3,046 2,032 77 — 63,326 Cash, cash equivalents and restricted cash, end of period 26,335 3,754 2,468 77 — 32,634 Less: Restricted cash (8,968) — — — — (8,968) Cash and cash equivalents, end of period $ 17,367 3,754 2,468 77 — $ 23,666

Bank segment (Tables)

Bank segment (Tables)	6 Months Ended
	Jun. 30, 2022
Bank Subsidiary [Abstract]
Schedule of statements of income data	Condensed Consolidating Statement of Income Three months ended June 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 576,472 124,502 117,928 — (29) $ 818,873 Expenses Fuel oil 184,297 33,065 52,293 — — 269,655 Purchased power 165,202 38,735 14,148 — — 218,085 Other operation and maintenance 82,707 21,331 20,854 — — 124,892 Depreciation 39,501 10,352 8,886 — — 58,739 Taxes, other than income taxes 54,025 11,378 10,945 — — 76,348 Total expenses 525,732 114,861 107,126 — — 747,719 Operating income 50,740 9,641 10,802 — (29) 71,154 Allowance for equity funds used during construction 1,946 217 307 — — 2,470 Equity in earnings of subsidiaries 12,237 — — — (12,237) — Retirement defined benefits credit (expense)—other than service costs 856 167 (32) — — 991 Interest expense and other charges, net (13,519) (2,642) (2,668) — 29 (18,800) Allowance for borrowed funds used during construction 637 67 94 — — 798 Income before income taxes 52,897 7,450 8,503 — (12,237) 56,613 Income taxes 8,492 1,659 1,828 — — 11,979 Net income 44,405 5,791 6,675 — (12,237) 44,634 Preferred stock dividends of subsidiaries — 133 96 — — 229 Net income attributable to Hawaiian Electric 44,405 5,658 6,579 — (12,237) 44,405 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 44,135 5,658 6,579 — (12,237) $ 44,135 Condensed Consolidating Statement of Income Three months ended June 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 422,697 91,512 87,670 — — $ 601,879 Expenses Fuel oil 91,345 19,586 28,205 — — 139,136 Purchased power 124,948 24,236 13,281 — — 162,465 Other operation and maintenance 77,903 19,474 20,765 — — 118,142 Depreciation 38,907 10,053 8,421 — — 57,381 Taxes, other than income taxes 40,301 8,539 8,231 — — 57,071 Total expenses 373,404 81,888 78,903 — — 534,195 Operating income 49,293 9,624 8,767 — — 67,684 Allowance for equity funds used during construction 1,930 140 307 — — 2,377 Equity in earnings of subsidiaries 10,744 — — — (10,744) — Retirement defined benefits credit (expense)—other than service costs 884 169 (33) — — 1,020 Interest expense and other charges, net (12,829) (2,573) (2,593) — — (17,995) Allowance for borrowed funds used during construction 654 48 110 — — 812 Income before income taxes 50,676 7,408 6,558 — (10,744) 53,898 Income taxes 8,505 1,668 1,325 — — 11,498 Net income 42,171 5,740 5,233 — (10,744) 42,400 Preferred stock dividends of subsidiaries — 133 96 — — 229 Net income attributable to Hawaiian Electric 42,171 5,607 5,137 — (10,744) 42,171 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 41,901 5,607 5,137 — (10,744) $ 41,901 Condensed Consolidating Statement of Income Six months ended June 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 1,076,714 233,030 217,956 — (35) $ 1,527,665 Expenses Fuel oil 338,722 58,316 93,903 — — 490,941 Purchased power 289,385 69,447 22,786 — — 381,618 Other operation and maintenance 166,363 41,545 42,241 — — 250,149 Depreciation 78,985 20,703 17,522 — — 117,210 Taxes, other than income taxes 101,299 21,410 20,289 — — 142,998 Total expenses 974,754 211,421 196,741 — — 1,382,916 Operating income 101,960 21,609 21,215 — (35) 144,749 Allowance for equity funds used during construction 3,936 410 533 — — 4,879 Equity in earnings of subsidiaries 25,898 — — — (25,898) — Retirement defined benefits credit (expense)—other than service costs 1,711 334 (64) — — 1,981 Interest expense and other charges, net (26,612) (5,251) (5,298) — 35 (37,126) Allowance for borrowed funds used during construction 1,288 127 161 — — 1,576 Income before income taxes 108,181 17,229 16,547 — (25,898) 116,059 Income taxes 17,097 3,927 3,493 — — 24,517 Net income 91,084 13,302 13,054 — (25,898) 91,542 Preferred stock dividends of subsidiaries — 267 191 — — 458 Net income attributable to Hawaiian Electric 91,084 13,035 12,863 — (25,898) 91,084 Preferred stock dividends of Hawaiian Electric 540 — — — — 540 Net income for common stock $ 90,544 13,035 12,863 — (25,898) $ 90,544 Condensed Consolidating Statement of Income Six months ended June 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 823,251 176,661 166,851 — (20) $ 1,166,743 Expenses Fuel oil 180,073 36,071 50,419 — — 266,563 Purchased power 233,552 45,833 25,376 — — 304,761 Other operation and maintenance 155,238 37,386 40,088 — — 232,712 Depreciation 77,821 20,101 16,814 — — 114,736 Taxes, other than income taxes 78,928 16,532 15,713 — — 111,173 Total expenses 725,612 155,923 148,410 — — 1,029,945 Operating income 97,639 20,738 18,441 — (20) 136,798 Allowance for equity funds used during construction 3,678 272 618 — — 4,568 Equity in earnings of subsidiaries 23,254 — — — (23,254) — Retirement defined benefits credit (expense)—other than service costs 1,770 337 (66) — — 2,041 Interest expense and other charges, net (25,661) (5,154) (5,183) — 20 (35,978) Allowance for borrowed funds used during construction 1,245 92 222 — — 1,559 Income before income taxes 101,925 16,285 14,032 — (23,254) 108,988 Income taxes 16,126 3,719 2,886 — — 22,731 Net income 85,799 12,566 11,146 — (23,254) 86,257 Preferred stock dividends of subsidiaries — 267 191 — — 458 Net income attributable to Hawaiian Electric 85,799 12,299 10,955 — (23,254) 85,799 Preferred stock dividends of Hawaiian Electric 540 — — — — 540 Net income for common stock $ 85,259 12,299 10,955 — (23,254) $ 85,259 Statements of Income and Comprehensive Income Data Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income Interest and fees on loans $ 48,129 $ 51,026 $ 94,134 $ 100,973 Interest and dividends on investment securities 14,693 11,040 28,677 19,713 Total interest and dividend income 62,822 62,066 122,811 120,686 Interest expense Interest on deposit liabilities 921 1,281 1,868 2,743 Interest on other borrowings 139 23 144 50 Total interest expense 1,060 1,304 2,012 2,793 Net interest income 61,762 60,762 120,799 117,893 Provision for credit losses 2,757 (12,207) (506) (20,642) Net interest income after provision for credit losses 59,005 72,969 121,305 138,535 Noninterest income Fees from other financial services 4,716 5,464 10,303 10,537 Fee income on deposit liabilities 4,552 3,904 9,243 7,767 Fee income on other financial products 2,529 2,201 5,247 4,643 Bank-owned life insurance (142) 1,624 539 4,185 Mortgage banking income 372 1,925 1,449 6,225 Gain on sale of real estate — — 1,002 — Gain on sale of investment securities, net — — — 528 Other income, net 475 76 847 348 Total noninterest income 12,502 15,194 28,630 34,233 Noninterest expense Compensation and employee benefits 27,666 27,670 54,881 55,707 Occupancy 5,467 5,100 11,419 10,069 Data processing 4,484 4,533 8,635 8,884 Services 2,522 2,475 4,961 5,337 Equipment 2,402 2,394 4,731 4,616 Office supplies, printing and postage 1,073 978 2,133 2,022 Marketing 934 665 1,952 1,313 FDIC insurance 891 788 1,699 1,604 Other expense 3,959 3,568 7,200 6,122 Total noninterest expense 49,398 48,171 97,611 95,674 Income before income taxes 22,109 39,992 52,324 77,094 Income taxes 4,643 9,708 10,988 17,254 Net income 17,466 30,284 41,336 59,840 Other comprehensive income (loss), net of taxes (88,835) 16,999 (211,276) (28,755) Comprehensive income (loss) $ (71,369) $ 47,283 $ (169,940) $ 31,085 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income $ 62,822 $ 62,066 $ 122,811 $ 120,686 Noninterest income 12,502 15,194 28,630 34,233 Less: Gain on sale of real estate — — 1,002 — Less: Gain on sale of investment securities, net — — — 528 *Revenues-Bank 75,324 77,260 150,439 154,391 Total interest expense 1,060 1,304 2,012 2,793 Provision for credit losses 2,757 (12,207) (506) (20,642) Noninterest expense 49,398 48,171 97,611 95,674 Less: Gain on sale of real estate — — 1,002 — Less: Retirement defined benefits credit—other than service costs (186) (186) (371) (1,464) *Expenses-Bank 53,401 37,454 98,486 79,289 *Operating income-Bank 21,923 39,806 51,953 75,102 Add back: Retirement defined benefits credit—other than service costs (186) (186) (371) (1,464) Add back: Gain on sale of investment securities, net — — — 528 Income before income taxes $ 22,109 $ 39,992 $ 52,324 $ 77,094
Schedule of statements of comprehensive income data	Statements of Income and Comprehensive Income Data Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income Interest and fees on loans $ 48,129 $ 51,026 $ 94,134 $ 100,973 Interest and dividends on investment securities 14,693 11,040 28,677 19,713 Total interest and dividend income 62,822 62,066 122,811 120,686 Interest expense Interest on deposit liabilities 921 1,281 1,868 2,743 Interest on other borrowings 139 23 144 50 Total interest expense 1,060 1,304 2,012 2,793 Net interest income 61,762 60,762 120,799 117,893 Provision for credit losses 2,757 (12,207) (506) (20,642) Net interest income after provision for credit losses 59,005 72,969 121,305 138,535 Noninterest income Fees from other financial services 4,716 5,464 10,303 10,537 Fee income on deposit liabilities 4,552 3,904 9,243 7,767 Fee income on other financial products 2,529 2,201 5,247 4,643 Bank-owned life insurance (142) 1,624 539 4,185 Mortgage banking income 372 1,925 1,449 6,225 Gain on sale of real estate — — 1,002 — Gain on sale of investment securities, net — — — 528 Other income, net 475 76 847 348 Total noninterest income 12,502 15,194 28,630 34,233 Noninterest expense Compensation and employee benefits 27,666 27,670 54,881 55,707 Occupancy 5,467 5,100 11,419 10,069 Data processing 4,484 4,533 8,635 8,884 Services 2,522 2,475 4,961 5,337 Equipment 2,402 2,394 4,731 4,616 Office supplies, printing and postage 1,073 978 2,133 2,022 Marketing 934 665 1,952 1,313 FDIC insurance 891 788 1,699 1,604 Other expense 3,959 3,568 7,200 6,122 Total noninterest expense 49,398 48,171 97,611 95,674 Income before income taxes 22,109 39,992 52,324 77,094 Income taxes 4,643 9,708 10,988 17,254 Net income 17,466 30,284 41,336 59,840 Other comprehensive income (loss), net of taxes (88,835) 16,999 (211,276) (28,755) Comprehensive income (loss) $ (71,369) $ 47,283 $ (169,940) $ 31,085 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income $ 62,822 $ 62,066 $ 122,811 $ 120,686 Noninterest income 12,502 15,194 28,630 34,233 Less: Gain on sale of real estate — — 1,002 — Less: Gain on sale of investment securities, net — — — 528 *Revenues-Bank 75,324 77,260 150,439 154,391 Total interest expense 1,060 1,304 2,012 2,793 Provision for credit losses 2,757 (12,207) (506) (20,642) Noninterest expense 49,398 48,171 97,611 95,674 Less: Gain on sale of real estate — — 1,002 — Less: Retirement defined benefits credit—other than service costs (186) (186) (371) (1,464) *Expenses-Bank 53,401 37,454 98,486 79,289 *Operating income-Bank 21,923 39,806 51,953 75,102 Add back: Retirement defined benefits credit—other than service costs (186) (186) (371) (1,464) Add back: Gain on sale of investment securities, net — — — 528 Income before income taxes $ 22,109 $ 39,992 $ 52,324 $ 77,094
Schedule of balance sheets data	Condensed Consolidating Balance Sheet June 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,860 5,606 3,594 — — $ 52,060 Plant and equipment 5,178,903 1,399,002 1,262,710 — — 7,840,615 Less accumulated depreciation (1,816,724) (633,559) (576,012) — — (3,026,295) Construction in progress 173,970 20,725 31,984 — — 226,679 Utility property, plant and equipment, net 3,579,009 791,774 722,276 — — 5,093,059 Nonutility property, plant and equipment, less accumulated depreciation 5,300 115 1,532 — — 6,947 Total property, plant and equipment, net 3,584,309 791,889 723,808 — — 5,100,006 Investment in wholly owned subsidiaries, at equity 686,338 — — — (686,338) — Current assets Cash and cash equivalents 6,578 5,754 3,094 77 — 15,503 Restricted cash 1,129 — — — — 1,129 Advances to affiliates 3,000 — 10,000 — (13,000) — Customer accounts receivable, net 176,838 37,631 32,801 — — 247,270 Accrued unbilled revenues, net 128,083 26,245 24,548 — — 178,876 Other accounts receivable, net 20,525 3,063 3,320 — (16,520) 10,388 Fuel oil stock, at average cost 178,911 17,254 27,622 — — 223,787 Materials and supplies, at average cost 43,836 10,001 20,744 — — 74,581 Prepayments and other 27,424 4,911 3,593 — 612 36,540 Regulatory assets 64,999 4,452 4,127 — — 73,578 Total current assets 651,323 109,311 129,849 77 (28,908) 861,652 Other long-term assets Operating lease right-of-use assets 49,326 36,743 13,621 — — 99,690 Regulatory assets 309,077 76,660 71,585 — — 457,322 Other 129,402 19,163 20,280 — (519) 168,326 Total other long-term assets 487,805 132,566 105,486 — (519) 725,338 Total assets $ 5,409,775 1,033,766 959,143 77 (715,765) $ 6,686,996 Capitalization and liabilities Capitalization Common stock equity $ 2,289,595 337,737 348,524 77 (686,338) $ 2,289,595 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,176,691 244,393 263,436 — — 1,684,520 Total capitalization 3,488,579 589,130 616,960 77 (686,338) 4,008,408 Current liabilities Current portion of operating lease liabilities 18,985 6,441 2,550 — — 27,976 Current portion of long-term debt 39,991 11,997 — — — 51,988 Short-term borrowings from non-affiliates 54,987 — — — — 54,987 Short-term borrowings from affiliate 10,000 3,000 — — (13,000) — Accounts payable 156,222 22,524 20,410 — — 199,156 Interest and preferred dividends payable 12,779 2,677 2,350 — (10) 17,796 Taxes accrued, including revenue taxes 145,594 34,157 31,636 — 612 211,999 Regulatory liabilities 14,614 3,532 4,487 — — 22,633 Other 61,438 17,749 18,105 — (16,668) 80,624 Total current liabilities 514,610 102,077 79,538 — (29,066) 667,159 Deferred credits and other liabilities Operating lease liabilities 44,498 30,428 11,185 — — 86,111 Deferred income taxes 285,438 51,403 63,269 — — 400,110 Regulatory liabilities 709,954 182,303 93,185 — — 985,442 Unamortized tax credits 73,441 13,643 13,028 — — 100,112 Defined benefit pension and other postretirement benefit plans liability 216,789 47,783 51,264 — (361) 315,475 Other 76,466 16,999 30,714 — — 124,179 Total deferred credits and other liabilities 1,406,586 342,559 262,645 — (361) 2,011,429 Total capitalization and liabilities $ 5,409,775 1,033,766 959,143 77 (715,765) $ 6,686,996 Condensed Consolidating Balance Sheet December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,737 5,606 3,594 — — $ 51,937 Plant and equipment 5,097,033 1,390,361 1,248,589 — — 7,735,983 Less accumulated depreciation (1,757,096) (619,991) (563,430) — — (2,940,517) Construction in progress 159,854 17,129 27,586 — — 204,569 Utility property, plant and equipment, net 3,542,528 793,105 716,339 — — 5,051,972 Nonutility property, plant and equipment, less accumulated depreciation 5,302 115 1,532 — — 6,949 Total property, plant and equipment, net 3,547,830 793,220 717,871 — — 5,058,921 Investment in wholly owned subsidiaries, at equity 676,237 — — — (676,237) — Current assets Cash and cash equivalents 23,344 5,326 23,422 77 — 52,169 Restricted cash 3,089 — — — — 3,089 Advances to affiliates 1,000 — — — (1,000) — Customer accounts receivable, net 135,949 28,469 22,441 — — 186,859 Accrued unbilled revenues, net 92,469 19,529 17,157 — — 129,155 Other accounts receivable, net 18,624 3,347 3,031 — (17,735) 7,267 Fuel oil stock, at average cost 71,184 12,814 20,080 — — 104,078 Materials and supplies, at average cost 42,006 9,727 20,144 — — 71,877 Prepayments and other 32,140 6,052 7,114 — 725 46,031 Regulatory assets 58,695 3,051 4,918 — — 66,664 Total current assets 478,500 88,315 118,307 77 (18,010) 667,189 Other long-term assets Operating lease right-of-use assets 78,710 22,442 318 — — 101,470 Regulatory assets 337,903 81,645 79,331 — — 498,879 Other 130,546 17,124 18,510 — (1,014) 165,166 Total other long-term assets 547,159 121,211 98,159 — (1,014) 765,515 Total assets $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Capitalization and liabilities Capitalization Common stock equity $ 2,261,899 332,900 343,260 77 (676,237) $ 2,261,899 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,136,620 234,390 253,417 — — 1,624,427 Total capitalization 3,420,812 574,290 601,677 77 (676,237) 3,920,619 Current liabilities Current portion of operating lease liabilities 45,955 3,378 35 — — 49,368 Current portion of long-term debt 39,981 11,994 — — — 51,975 Short-term borrowings-affiliate — 1,000 — — (1,000) — Accounts payable 111,024 26,139 22,844 — — 160,007 Interest and preferred dividends payable 12,442 2,617 2,269 — (3) 17,325 Taxes accrued, including revenue taxes 143,723 33,153 30,679 — 725 208,280 Regulatory liabilities 22,240 3,247 4,273 — — 29,760 Other 56,752 14,158 18,540 — (17,881) 71,569 Total current liabilities 432,117 95,686 78,640 — (18,159) 588,284 Deferred credits and other liabilities Operating lease liabilities 46,426 19,063 291 — — 65,780 Deferred income taxes 291,027 53,298 64,309 — — 408,634 Regulatory liabilities 695,152 179,267 92,589 — — 967,008 Unamortized tax credits 76,201 14,212 13,532 — — 103,945 Defined benefit pension and other postretirement benefit plans liability 220,480 48,900 53,257 — (857) 321,780 Other 67,511 18,030 30,042 — (8) 115,575 Total deferred credits and other liabilities 1,396,797 332,770 254,020 — (865) 1,982,722 Total capitalization and liabilities $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Balance Sheets Data (in thousands) June 30, 2022 December 31, 2021 Assets Cash and due from banks $ 128,971 $ 100,051 Interest-bearing deposits 12,054 151,189 Cash and cash equivalents 141,025 251,240 Investment securities Available-for-sale, at fair value 2,444,267 2,574,618 Held-to-maturity, at amortized cost (fair value of $440,023 and $510,474, respectively) 513,767 522,270 Stock in Federal Home Loan Bank, at cost 13,200 10,000 Loans held for investment 5,426,995 5,211,114 Allowance for credit losses (69,456) (71,130) Net loans 5,357,539 5,139,984 Loans held for sale, at lower of cost or fair value 3,738 10,404 Other 659,139 590,897 Goodwill 82,190 82,190 Total assets $ 9,214,865 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,993,900 $ 2,976,632 Deposit liabilities—interest-bearing 5,259,636 5,195,580 Other borrowings 241,610 88,305 Other 187,770 193,268 Total liabilities 8,682,916 8,453,785 Common stock 1 1 Additional paid-in capital 354,966 353,895 Retained earnings 426,040 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (241,301) $ (32,037) Retirement benefit plans (7,757) (249,058) (5,745) (37,782) Total shareholder’s equity 531,949 727,818 Total liabilities and shareholder’s equity $ 9,214,865 $ 9,181,603 Other assets Bank-owned life insurance $ 181,166 $ 177,566 Premises and equipment, net 199,429 202,299 Accrued interest receivable 21,335 20,854 Mortgage-servicing rights 9,696 9,950 Low-income housing investments 104,592 110,989 Real estate acquired in settlement of loans, net 271 — Real estate held for sale 3,030 — Deferred tax asset 84,814 7,699 Other 54,806 61,540 $ 659,139 $ 590,897 Other liabilities Accrued expenses $ 83,915 $ 87,905 Federal and state income taxes payable — — Cashier’s checks 33,747 33,675 Advance payments by borrowers 9,980 9,994 Other 60,128 61,694 $ 187,770 $ 193,268
Schedule of the book value and aggregate fair value by major security type	The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair Amount Number of issues Fair Amount June 30, 2022 Available-for-sale U.S. Treasury and federal agency obligations $ 107,389 $ — $ (4,902) $ 102,487 17 $ 102,487 $ (4,902) — $ — $ — Mortgage-backed securities* 2,606,904 467 (322,185) 2,285,186 180 1,409,947 (158,235) 66 845,879 (163,950) Corporate bonds 44,447 — (3,018) 41,429 5 41,429 (3,018) — — — Mortgage revenue bonds 15,165 — — 15,165 — — — — — — $ 2,773,905 $ 467 $ (330,105) $ 2,444,267 202 $ 1,553,863 $ (166,155) 66 $ 845,879 $ (163,950) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,882 $ — $ (5,997) $ 53,885 3 $ 53,885 $ (5,997) — $ — $ — Mortgage-backed securities* 453,885 — (67,747) 386,138 24 236,918 (35,867) 13 149,220 (31,880) $ 513,767 $ — $ (73,744) $ 440,023 27 $ 290,803 $ (41,864) 13 $ 149,220 $ (31,880) December 31, 2021 Available-for-sale U.S. Treasury and federal agency obligations $ 89,714 $ 803 $ (427) $ 90,090 4 $ 44,827 $ (427) — $ — $ — Mortgage-backed securities* 2,482,618 6,511 (51,206) 2,437,923 120 1,845,243 (38,321) 18 271,012 (12,885) Corporate bonds 30,625 655 (102) 31,178 1 12,780 (102) — — — Mortgage revenue bonds 15,427 — — 15,427 — — — — — — $ 2,618,384 $ 7,969 $ (51,735) $ 2,574,618 125 $ 1,902,850 $ (38,850) 18 $ 271,012 $ (12,885) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,871 $ 168 $ (170) $ 59,869 2 $ 39,594 $ (170) — $ — $ — Mortgage-backed securities* 462,399 1,480 (13,274) 450,605 22 290,883 (7,665) 7 106,483 (5,609) $ 522,270 $ 1,648 $ (13,444) $ 510,474 24 $ 330,477 $ (7,835) 7 $ 106,483 $ (5,609) * Issued or guaranteed by U.S. Government agencies or sponsored agencies
Schedule of contractual maturities of available-for-sale securities	The contractual maturities of investment securities were as follows: June 30, 2022 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 15,807 $ 15,781 Due after one year through five years 84,406 81,286 Due after five years through ten years 66,788 62,014 Due after ten years — — 167,001 159,081 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 2,606,904 2,285,186 Total available-for-sale securities $ 2,773,905 $ 2,444,267 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 59,882 53,885 Due after ten years — — 59,882 53,885 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 453,885 386,138 Total held-to-maturity securities $ 513,767 $ 440,023
Schedule of proceeds, gross gains and losses from sales of available-for-sale securities	The proceeds, gross gains and losses from sales of available-for-sale securities were as follows: Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 Proceeds $ — $ — $ — $ 197,354 Gross gains — — — 975 Gross losses — — — 447 Tax expense on realized gains — — — 142
Schedule of components of loans receivable	The components of loans were summarized as follows: June 30, 2022 December 31, 2021 (in thousands) Real estate: Residential 1-4 family $ 2,310,041 $ 2,299,212 Commercial real estate 1,261,389 1,056,982 Home equity line of credit 923,976 835,663 Residential land 21,535 19,859 Commercial construction 94,060 91,080 Residential construction 19,230 11,138 Total real estate 4,630,231 4,313,934 Commercial 660,478 793,304 Consumer 148,637 113,966 Total loans 5,439,346 5,221,204 Less: Deferred fees and discounts (12,351) (10,090) Allowance for credit losses (69,456) (71,130) Total loans, net $ 5,357,539 $ 5,139,984
Schedule of allowance for credit losses	The allowance for credit losses (balances and changes) by portfolio segment were as follows: (in thousands) Residential Commercial real Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Total Three months ended June 30, 2022 Allowance for credit losses: Beginning balance $ 7,874 $ 20,176 $ 5,650 $ 697 $ 2,340 $ 31 $ 14,314 $ 16,129 $ 67,211 Charge-offs — — — — — — (148) (1,369) (1,517) Recoveries 3 — 31 96 — — 399 976 1,505 Provision 643 724 415 (116) 294 15 (2,152) 2,434 2,257 Ending balance $ 8,520 $ 20,900 $ 6,096 $ 677 $ 2,634 $ 46 $ 12,413 $ 18,170 $ 69,456 Three months ended June 30, 2021 Allowance for credit losses: Beginning balance $ 5,261 $ 34,345 $ 5,901 $ 573 $ 1,453 $ 16 $ 24,504 $ 19,740 $ 91,793 Charge-offs (20) — 10 — — — (319) (1,931) (2,260) Recoveries 51 — 61 11 — — 366 1,187 1,676 Provision 226 (5,637) (637) 34 176 — (4,493) (2,626) (12,957) Ending balance $ 5,518 $ 28,708 $ 5,335 $ 618 $ 1,629 $ 16 $ 20,058 $ 16,370 $ 78,252 Six months ended June 30, 2022 Allowance for credit losses: Beginning balance $ 6,545 $ 24,696 $ 5,657 $ 646 $ 2,186 $ 18 $ 15,798 $ 15,584 $ 71,130 Charge-offs — — — — — — (224) (2,851) (3,075) Recoveries 11 — 42 101 — — 752 2,001 2,907 Provision 1,964 (3,796) 397 (70) 448 28 (3,913) 3,436 (1,506) Ending balance $ 8,520 $ 20,900 $ 6,096 $ 677 $ 2,634 $ 46 $ 12,413 $ 18,170 $ 69,456 Six months ended June 30, 2021 Allowance for credit losses: Beginning balance $ 4,600 $ 35,607 $ 6,813 $ 609 $ 4,149 $ 11 $ 25,462 $ 23,950 $ 101,201 Charge-offs (20) — (40) — — — (1,090) (4,791) (5,941) Recoveries 54 — 76 21 — — 639 2,194 2,984 Provision 884 (6,899) (1,514) (12) (2,520) 5 (4,953) (4,983) (19,992) Ending balance $ 5,518 $ 28,708 $ 5,335 $ 618 $ 1,629 $ 16 $ 20,058 $ 16,370 $ 78,252
Schedule of allowance for loan commitments	The allowance for loan commitments by portfolio segment were as follows: (in thousands) Home equity Commercial construction Commercial loans Total Three months ended June 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,600 $ 1,400 $ 5,400 Provision — 500 — 500 Ending balance $ 400 $ 4,100 $ 1,400 $ 5,900 Three months ended June 30, 2021 Allowance for loan commitments: Beginning balance $ 400 $ 1,300 $ 1,200 $ 2,900 Provision — 1,100 (350) 750 Ending balance $ 400 $ 2,400 $ 850 $ 3,650 Six months ended June 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,700 $ 800 $ 4,900 Provision — 400 600 1,000 Ending balance $ 400 $ 4,100 $ 1,400 $ 5,900 Six months ended June 30, 2021 Allowance for loan commitments: Beginning balance $ 300 $ 3,000 $ 1,000 $ 4,300 Provision 100 (600) (150) (650) Ending balance $ 400 $ 2,400 $ 850 $ 3,650
Schedule of credit risk profile by internally assigned grade for loans	The credit risk profile by vintage date based on payment activity or internally assigned grade for loans was as follows: Term Loans by Origination Year Revolving Loans (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Converted to term loans Total June 30, 2022 Residential 1-4 family Current $ 176,333 $ 768,123 $ 437,911 $ 119,503 $ 56,469 $ 742,653 $ — $ — $ 2,300,992 30-59 days past due — — 572 217 453 3,288 — — 4,530 60-89 days past due — — — — — 637 — — 637 Greater than 89 days past due — — — — 809 3,073 — — 3,882 176,333 768,123 438,483 119,720 57,731 749,651 — — 2,310,041 Home equity line of credit Current — — — — — — 881,505 41,295 922,800 30-59 days past due — — — — — — 110 101 211 60-89 days past due — — — — — — 106 83 189 Greater than 89 days past due — — — — — — 423 353 776 — — — — — — 882,144 41,832 923,976 Residential land Current 4,290 9,861 5,410 753 527 283 — — 21,124 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — 109 — — 109 Greater than 89 days past due — — — 205 — 97 — — 302 4,290 9,861 5,410 958 527 489 — — 21,535 Residential construction Current 5,614 11,071 2,297 — — 248 — — 19,230 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 5,614 11,071 2,297 — — 248 — — 19,230 Consumer Current 71,436 28,455 10,209 16,525 3,385 198 11,509 4,235 145,952 30-59 days past due 268 224 68 330 82 2 107 110 1,191 60-89 days past due 74 109 78 161 91 — 45 57 615 Greater than 89 days past due 80 159 67 255 107 — 91 120 879 71,858 28,947 10,422 17,271 3,665 200 11,752 4,522 148,637 Commercial real estate Pass 229,603 171,805 301,360 52,361 61,179 289,835 4,235 — 1,110,378 Special Mention — 19,600 3,488 41,235 14,174 36,958 — — 115,455 Substandard — — 675 11,444 1,835 21,602 — — 35,556 Doubtful — — — — — — — — — 229,603 191,405 305,523 105,040 77,188 348,395 4,235 — 1,261,389 Commercial construction Pass — 35,982 25,123 — 11,341 — 21,614 — 94,060 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — — 35,982 25,123 — 11,341 — 21,614 — 94,060 Commercial Pass 41,268 181,637 87,936 74,326 45,637 87,962 78,344 14,590 611,700 Special Mention — 23 9,702 6,533 101 1,011 15,414 14 32,798 Substandard 315 409 156 2,122 1,548 5,975 4,308 1,147 15,980 Doubtful — — — — — — — — — 41,583 182,069 97,794 82,981 47,286 94,948 98,066 15,751 660,478 Total loans $ 529,281 $ 1,227,458 $ 885,052 $ 325,970 $ 197,738 $ 1,193,931 $ 1,017,811 $ 62,105 $ 5,439,346 Term Loans by Origination Year Revolving Loans (in thousands) 2021 2020 2019 2018 2017 Prior Revolving Converted to term loans Total December 31, 2021 Residential 1-4 family Current $ 791,758 $ 461,683 $ 133,345 $ 64,421 $ 124,994 $ 712,452 $ — $ — $ 2,288,653 30-59 days past due — — — 809 — 2,210 — — 3,019 60-89 days past due — — — — — 1,468 — — 1,468 Greater than 89 days past due — — 2,987 — — 3,085 — — 6,072 791,758 461,683 136,332 65,230 124,994 719,215 — — 2,299,212 Home equity line of credit Current — — — — — — 794,518 39,116 833,634 30-59 days past due — — — — — — 296 313 609 60-89 days past due — — — — — — 16 70 86 Greater than 89 days past due — — — — — — 838 496 1,334 — — — — — — 795,668 39,995 835,663 Residential land Current 10,572 6,794 1,116 532 267 181 — — 19,462 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — 397 — — 397 10,572 6,794 1,116 532 267 578 — — 19,859 Residential construction Current 7,856 3,019 — — 263 — — — 11,138 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 7,856 3,019 — — 263 — — — 11,138 Consumer Current 37,563 15,488 29,383 10,897 302 238 12,740 4,157 110,768 30-59 days past due 202 181 517 234 15 — 156 70 1,375 60-89 days past due 59 127 392 183 8 — 7 106 882 Greater than 89 days past due 14 93 387 192 27 — 141 87 941 37,838 15,889 30,679 11,506 352 238 13,044 4,420 113,966 Commercial real estate Pass 173,794 275,242 49,317 56,490 33,581 259,583 11,602 — 859,609 Special Mention 19,600 3,529 42,935 30,870 20,788 32,824 — — 150,546 Substandard — 684 13,936 1,859 1,805 28,543 — — 46,827 Doubtful — — — — — — — — — 193,394 279,455 106,188 89,219 56,174 320,950 11,602 — 1,056,982 Commercial construction Pass 17,140 43,261 — 11,342 — — 19,337 — 91,080 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 17,140 43,261 — 11,342 — — 19,337 — 91,080 Commercial Pass 266,087 96,963 79,329 56,497 31,019 66,570 96,673 15,510 708,648 Special Mention 40 27,336 10,071 202 439 8,966 15,303 18 62,375 Substandard 427 184 3,737 1,777 4,457 2,961 7,083 1,655 22,281 Doubtful — — — — — — — — — 266,554 124,483 93,137 58,476 35,915 78,497 119,059 17,183 793,304 Total loans $ 1,325,112 $ 934,584 $ 367,452 $ 236,305 $ 217,965 $ 1,119,478 $ 958,710 $ 61,598 $ 5,221,204
Schedule of credit risk profile based on payment activity for loans	The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 60-89 Total Current Total Amortized cost> June 30, 2022 Real estate: Residential 1-4 family $ 4,530 $ 637 $ 3,882 $ 9,049 $ 2,300,992 $ 2,310,041 $ — Commercial real estate 472 — — 472 1,260,917 1,261,389 — Home equity line of credit 211 189 776 1,176 922,800 923,976 — Residential land — 109 302 411 21,124 21,535 — Commercial construction — — — — 94,060 94,060 — Residential construction — — — — 19,230 19,230 — Commercial 87 763 9 859 659,619 660,478 — Consumer 1,191 615 879 2,685 145,952 148,637 — Total loans $ 6,491 $ 2,313 $ 5,848 $ 14,652 $ 5,424,694 $ 5,439,346 $ — December 31, 2021 Real estate: Residential 1-4 family $ 3,019 $ 1,468 $ 6,072 $ 10,559 $ 2,288,653 $ 2,299,212 $ — Commercial real estate — — — — 1,056,982 1,056,982 — Home equity line of credit 609 86 1,334 2,029 833,634 835,663 — Residential land — — 397 397 19,462 19,859 — Commercial construction — — — — 91,080 91,080 — Residential construction — — — — 11,138 11,138 — Commercial 700 313 48 1,061 792,243 793,304 — Consumer 1,375 882 941 3,198 110,768 113,966 — Total loans $ 5,703 $ 2,749 $ 8,792 $ 17,244 $ 5,203,960 $ 5,221,204 $ —
Schedule of credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due	The credit risk profile based on nonaccrual loans were as follows: (in thousands) June 30, 2022 December 31, 2021 With a Related ACL Without a Related ACL Total With a Related ACL Without a Related ACL Total Real estate: Residential 1-4 family $ 11,487 $ 3,571 $ 15,058 $ 16,045 $ 3,703 $ 19,748 Commercial real estate — — — 14,104 1,221 15,325 Home equity line of credit 3,225 725 3,950 4,227 1,294 5,521 Residential land 205 97 302 97 300 397 Commercial construction — — — — — — Residential construction — — — — — — Commercial 240 899 1,139 1,446 692 2,138 Consumer 1,430 — 1,430 1,845 — 1,845 Total $ 16,587 $ 5,292 $ 21,879 $ 37,764 $ 7,210 $ 44,974 The credit risk profile based on loans whose terms have been modified and accruing interest were as follows: (in thousands) June 30, 2022 December 31, 2021 Real estate: Residential 1-4 family $ 7,690 $ 6,949 Commercial real estate 10,031 3,055 Home equity line of credit 5,037 6,021 Residential land 920 980 Commercial construction — — Residential construction — — Commercial 6,844 7,860 Consumer 51 52 Total troubled debt restructured loans accruing interest $ 30,573 $ 24,917
Schedule of loan modifications	Loan modifications that occurred during the three and six months ended June 30, 2022 and 2021 were as follows: Three months ended June 30, 2022 Six months ended June 30, 2022 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 1 381 135 1 381 135 Commercial real estate — — — — — — Home equity line of credit — — — — — — Residential land — — — — — — Commercial construction — — — — — — Residential construction — — — — — — Commercial — — — — — — Consumer — — — — — — 1 $ 381 $ 135 1 $ 381 $ 135 Three months ended June 30, 2021 Six months ended June 30, 2021 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 3 $ 1,835 $ 77 15 $ 10,024 $ 271 Commercial real estate — — — — — — Home equity line of credit — — — 1 163 18 Residential land 1 288 12 2 558 23 Commercial construction — — — — — — Residential construction — — — — — — Commercial 4 237 11 6 296 26 Consumer — — — — — — 8 $ 2,360 $ 100 24 $ 11,041 $ 338 1 The period end balances reflect all paydowns and charge-offs since the modification period. TDRs fully paid off, charged-off, or foreclosed upon by period end are not included.
Schedule of collateral-dependent loans	Loans considered collateral-dependent were as follows: Amortized cost (in thousands) June 30, 2022 December 31, 2021 Collateral type Real estate: Residential 1-4 family $ 4,070 $ 3,493 Residential real estate property Commercial real estate — 1,221 Commercial real estate property Home equity line of credit 706 1,294 Residential real estate property Residential land 97 300 Residential real estate property Total real estate 4,873 6,308 Commercial 205 692 Business assets Total $ 5,078 $ 7,000
Schedule of amortized intangible assets	Changes in the carrying value of MSRs were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net June 30, 2022 $ 19,341 $ (9,645) $ — $ 9,696 December 31, 2021 18,674 (8,724) — 9,950 Changes related to MSRs were as follows: Three months ended June 30, Six months ended June 30 (in thousands) 2022 2021 2022 2021 Mortgage servicing rights Beginning balance $ 10,024 $ 10,689 $ 9,950 $ 10,280 Amount capitalized 204 1,023 923 2,570 Amortization (532) (958) (1,177) (2,096) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 9,696 10,754 9,696 10,754 Valuation allowance for mortgage servicing rights Beginning balance — 4 — 260 Provision — (4) — (260) Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 9,696 $ 10,754 $ 9,696 $ 10,754
Schedule of key assumptions used in estimating fair value	Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows: (dollars in thousands) June 30, 2022 December 31, 2021 Unpaid principal balance $ 1,483,877 $ 1,481,899 Weighted average note rate 3.34 % 3.38 % Weighted average discount rate 9.25 % 9.25 % Weighted average prepayment speed 6.55 % 9.77 %
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) June 30, 2022 December 31, 2021 Prepayment rate: 25 basis points adverse rate change $ (111) $ (714) 50 basis points adverse rate change (244) (1,608) Discount rate: 25 basis points adverse rate change (176) (129) 50 basis points adverse rate change (350) (256)
Schedule of securities sold under agreements to repurchase	The following tables present information about the securities sold under agreements to repurchase, including the related collateral received from or pledged to counterparties: (in millions) Gross amount Gross amount Net amount of Repurchase agreements June 30, 2022 $ 162 $ — $ 162 December 31, 2021 88 — 88 Gross amount not offset in the Balance Sheets (in millions) Net amount of liabilities presented Financial Cash Commercial account holders June 30, 2022 $ 162 $ 181 $ — December 31, 2021 88 161 —
Schedule of notional and fair value of derivatives	The notional amount and fair value of ASB’s derivative financial instruments were as follows: June 30, 2022 December 31, 2021 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 4,939 $ 44 $ 39,377 $ 638 Forward commitments 4,750 27 38,000 (11)
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 June 30, 2022 December 31, 2021 (in thousands) Asset derivatives Liability Asset derivatives Liability Interest rate lock commitments $ 44 $ — $ 638 $ — Forward commitments 27 — — 11 $ 71 $ — $ 638 $ 11 1 Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the balance sheets.
Schedule of derivative financial instruments and net gain or loss	The following table presents ASB’s derivative financial instruments and the amount and location of the net gains or losses recognized in ASB’s statements of income: Derivative Financial Instruments Not Designated as Hedging Instruments Location of net gains (losses) recognized in the Statements of Income Three months ended June 30, Six months ended June 30 (in thousands) 2022 2021 2022 2021 Interest rate lock commitments Mortgage banking income $ 62 $ (67) $ (593) $ (4,165) Forward commitments Mortgage banking income (141) (381) 37 459 $ (79) $ (448) $ (556) $ (3,706)

Credit agreement and changes _2

Credit agreement and changes in debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of notes	The Notes had a delayed draw feature and the Utilities drew down all the proceeds on June 15, 2022. Series 2022A Aggregate principal amount $60 million Fixed coupon interest rate 3.7% Maturity date 6/15/2032 Principal amount by company: Hawaiian Electric $40 million Hawaii Electric Light $10 million Maui Electric $10 million

Shareholders' equity (Tables)

Shareholders' equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of accumulated other comprehensive income	Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized gains (losses) on derivatives Retirement benefit plans AOCI AOCI-Retirement benefit plans Balance, December 31, 2021 $ (32,037) $ (3,638) $ (16,858) $ (52,533) $ (3,280) Current period other comprehensive income (loss) (209,264) 3,911 354 (204,999) 102 Balance, June 30, 2022 $ (241,301) $ 273 $ (16,504) $ (257,532) $ (3,178) Balance, December 31, 2020 $ 19,986 $ (3,363) $ (17,887) $ (1,264) $ (2,919) Current period other comprehensive income (loss) (28,801) 861 396 (27,544) 69 Balance, June 30, 2021 $ (8,815) $ (2,502) $ (17,491) $ (28,808) $ (2,850)
Schedule of reclassifications out of accumulated other comprehensive income/(loss)	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Three months ended June 30 Six months ended June 30 (in thousands) 2022 2021 2022 2021 HEI consolidated Net realized gains on securities included in net income $ — $ — $ — $ (387) Gain on sale of investment securities, net Net realized losses on derivatives qualifying as cash flow hedges 53 — 108 — Interest expense Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 122 6,008 4,623 12,018 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 56 (5,811) (4,269) (11,622) See Note 9 for additional details Total reclassifications $ 231 $ 197 $ 462 $ 9 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ (5) $ 5,846 $ 4,371 $ 11,691 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 56 (5,811) (4,269) (11,622) See Note 9 for additional details Total reclassifications $ 51 $ 35 $ 102 $ 69

Interest rate swaps (Tables)

Interest rate swaps (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of interest rate derivatives	Notional amount Fixed interest rate Asset (liability) (in millions) at Effective date Maturity date June 30, 2022 December 31, 2021 $50.0 2.75% 11/21/2022 11/21/2027 $ (0.1) $ — $50.0 2.78% 11/21/2022 11/21/2029 (0.1) — $24.0 4.88% - 5.05% 9/1/2021 - 9/1/2022 9/1/2034 - 9/1/2035 (0.6) (5.3) $13.0 2.79% 11/1/2020 10/1/2031 1.0 0.3
Schedule of derivative instruments, effect on other comprehensive income (loss)	The following table provides the pre-tax gain (loss) of the derivative instruments in the Company's condensed consolidated statement of comprehensive income (loss) during the three and six months ended June 30, 2022 and 2021: Three months ended June 30 Six months ended June 30 (in millions) 2022 2021 2022 2021 Gain (loss) on interest rate swaps designated as cash flow hedges recognized in other comprehensive income $ 1.1 $ (0.9) $ 5.1 $ 1.2

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Three months ended June 30, 2022 Six months ended June 30, 2022 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 259,433 $ — $ — $ 259,433 $ 484,007 $ — $ — $ 484,007 Electric energy sales - commercial 264,701 — — 264,701 484,298 — — 484,298 Electric energy sales - large light and power 293,847 — — 293,847 534,970 — — 534,970 Electric energy sales - other 4,873 — — 4,873 6,299 — — 6,299 Bank fees — 11,797 — 11,797 — 24,793 — 24,793 Other sales — — 1,333 1,333 — — 2,448 2,448 Total revenues from contracts with customers 822,854 11,797 1,333 835,984 1,509,574 24,793 2,448 1,536,815 Revenues from other sources Regulatory revenue $ (11,428) $ — $ — $ (11,428) $ 1,458 $ — $ — $ 1,458 Bank interest and dividend income — 62,822 — 62,822 — 122,811 — 122,811 Other bank noninterest income — 705 — 705 — 2,835 — 2,835 Other 7,447 — 77 7,524 16,633 — 123 16,756 Total revenues from other sources (3,981) 63,527 77 59,623 18,091 125,646 123 143,860 Total revenues $ 818,873 $ 75,324 $ 1,410 $ 895,607 $ 1,527,665 $ 150,439 $ 2,571 $ 1,680,675 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,797 $ — $ 11,797 $ — $ 24,793 $ — $ 24,793 Services/goods transferred over time 822,854 — 1,333 824,187 1,509,574 — 2,448 1,512,022 Total revenues from contracts with customers $ 822,854 $ 11,797 $ 1,333 $ 835,984 $ 1,509,574 $ 24,793 $ 2,448 $ 1,536,815 Three months ended June 30, 2021 Six months ended June 30, 2021 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 196,318 $ — $ — $ 196,318 $ 377,557 $ — $ — $ 377,557 Electric energy sales - commercial 192,103 — — 192,103 360,568 — — 360,568 Electric energy sales - large light and power 201,536 — — 201,536 378,351 — — 378,351 Electric energy sales - other 2,212 — — 2,212 4,691 — — 4,691 Bank fees — 11,569 — 11,569 — 22,947 — 22,947 Other sales — — 1,089 1,089 — — 2,013 2,013 Total revenues from contracts with customers 592,169 11,569 1,089 604,827 1,121,167 22,947 2,013 1,146,127 Revenues from other sources Regulatory revenue 2,854 — — 2,854 31,283 — — 31,283 Bank interest and dividend income — 62,066 — 62,066 — 120,686 — 120,686 Other bank noninterest income — 3,625 — 3,625 — 10,758 — 10,758 Other 6,856 — 29 6,885 14,293 — 56 14,349 Total revenues from other sources 9,710 65,691 29 75,430 45,576 131,444 56 177,076 Total revenues $ 601,879 $ 77,260 $ 1,118 $ 680,257 $ 1,166,743 $ 154,391 $ 2,069 $ 1,323,203 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,569 $ — $ 11,569 $ — $ 22,947 $ — $ 22,947 Services/goods transferred over time 592,169 — 1,089 593,258 1,121,167 — 2,013 1,123,180 Total revenues from contracts with customers $ 592,169 $ 11,569 $ 1,089 $ 604,827 $ 1,121,167 $ 22,947 $ 2,013 $ 1,146,127

Retirement benefits (Tables)

Retirement benefits (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Schedule of components of net periodic benefit cost for consolidated HEI	The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended June 30 Six months ended June 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2022 2021 2022 2021 2022 2021 2022 2021 HEI consolidated Service cost $ 19,823 $ 20,465 $ 657 $ 705 $ 39,647 $ 40,929 $ 1,313 $ 1,410 Interest cost 19,810 18,800 1,638 1,569 39,621 37,601 3,275 3,138 Expected return on plan assets (35,331) (33,068) (3,398) (3,232) (70,664) (66,135) (6,795) (6,465) Amortization of net prior period gain — — (232) (384) — — (464) (767) Amortization of net actuarial (gain)/losses 1 6,297 8,431 (3) 44 12,594 9,987 (6) 298 Net periodic pension/benefit cost (return) 10,599 14,628 (1,338) (1,298) 21,198 22,382 (2,677) (2,386) Impact of PUC D&Os 9,552 5,513 1,217 1,176 19,103 16,680 2,436 2,146 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 20,151 $ 20,141 $ (121) $ (122) $ 40,301 $ 39,062 $ (241) $ (240) Hawaiian Electric consolidated Service cost $ 19,317 $ 19,993 $ 649 $ 698 $ 38,635 $ 39,987 $ 1,298 $ 1,397 Interest cost 18,461 17,531 1,572 1,504 36,923 35,062 3,145 3,008 Expected return on plan assets (33,545) (31,367) (3,345) (3,182) (67,091) (62,735) (6,692) (6,364) Amortization of net prior period gain — — (231) (382) — — (462) (765) Amortization of net actuarial losses 1 6,125 8,212 — 43 12,250 10,771 — 293 Net periodic pension/benefit cost (return) 10,358 14,369 (1,355) (1,319) 20,717 23,085 (2,711) (2,431) Impact of PUC D&Os 9,552 5,513 1,217 1,176 19,103 16,680 2,436 2,146 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 19,910 $ 19,882 $ (138) $ (143) $ 39,820 $ 39,765 $ (275) $ (285) 1 Six months ended June 30, 2021 amounts include the one-time cumulative impact of the change in accounting principle for the plans’ fixed income securities from the calculated market-related value method to the fair value method, which was recorded in the first quarter of 2021.

Share-based compensation (Table

Share-based compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of share-based compensation expense and related income tax benefit	Share-based compensation expense and the related income tax benefit were as follows: Three months ended June 30 Six months ended June 30 (in millions) 2022 2021 2022 2021 HEI consolidated Share-based compensation expense 1 $ 3.5 $ 2.9 $ 5.6 $ 5.5 Income tax benefit 0.8 0.5 1.1 1.0 Hawaiian Electric consolidated Share-based compensation expense 1 1.0 0.9 1.6 2.0 Income tax benefit 0.3 0.2 0.4 0.4 1 For the three and six months ended June 30, 2022 and 2021, the Company has not capitalized any share-based compensation.
Schedule of common stock granted to nonemployee directors	HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows: Three months ended June 30 Six months ended June 30 (dollars in millions) 2022 2021 2022 2021 Shares granted 34,755 29,320 34,755 29,320 Fair value $ 1.4 $ 1.2 $ 1.4 $ 1.2 Income tax benefit 0.4 0.3 0.4 0.3
Schedule of restricted stock units	Information about HEI’s grants of restricted stock units was as follows: Three months ended June 30 Six months ended June 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 208,345 $ 39.71 236,191 $ 37.91 233,448 $ 38.10 193,939 $ 40.89 Granted 2,008 42.15 4,894 44.61 98,463 41.31 132,492 34.37 Vested (1,034) 44.31 (292) 38.77 (91,414) 37.65 (79,280) 38.51 Forfeited (366) 38.07 (11,018) 38.74 (31,544) 38.77 (17,376) 40.01 Outstanding, end of period 208,953 $ 39.71 229,775 $ 38.02 208,953 $ 39.71 229,775 $ 38.02 Total weighted-average grant-date fair value of shares granted (in millions) $ 0.1 $ 0.2 $ 4.1 $ 4.6
Schedule of Long-Term Incentive Plan (LTIP) linked to total return to shareholders	Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended June 30 Six months ended June 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 76,340 $ 47.70 100,053 $ 42.89 90,974 $ 42.86 89,222 $ 42.10 Granted 390 54.92 1,533 41.12 26,469 54.92 45,743 41.12 Vested (issued or unissued and cancelled) — — — — (29,042) 41.07 (32,355) 38.20 Forfeited — — (10,427) 42.82 (11,671) 42.60 (11,451) 43.10 Outstanding, end of period 76,730 $ 47.74 91,159 $ 42.87 76,730 $ 47.74 91,159 $ 42.87 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ 0.1 $ 1.5 $ 1.9
Schedule of Long-Term Incentive Plan assumptions	The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted: 2022 2021 Risk-free interest rate 1.71 % 0.19 % Expected life in years 3 3 Expected volatility 31.0 % 29.9 % Range of expected volatility for Peer Group 25.4% to 76.7% 25.6% to 102.9% Grant date fair value (per share) $54.92 $41.12
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 June 30 Six months ended June 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 292,151 $ 39.89 335,702 $ 38.04 306,342 $ 38.42 220,715 $ 41.03 Granted 1,560 42.37 6,133 44.49 105,860 41.31 182,977 34.33 Vested — — — — (71,807) 37.68 (43,155) 34.12 Increase above target (cancelled) — — 15,881 42.92 — — 1,277 31.71 Forfeited — — (41,711) 38.27 (46,684) 36.77 (45,809) 38.82 Outstanding, end of period 293,711 $ 39.91 316,005 $ 38.38 293,711 $ 39.91 316,005 $ 38.38 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 0.1 $ 0.3 $ 4.4 $ 6.3

Cash flows (Tables)

Cash flows (Tables)	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental disclosures of cash and noncash activity	Six months ended June 30 2022 2021 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 47 $ 51 Income taxes paid (including refundable credits) 14 14 Income taxes refunded (including refundable credits) 2 — Hawaiian Electric consolidated Interest paid to non-affiliates 34 37 Income taxes paid (including refundable credits) 27 20 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 25 31 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 40 38 Common stock issued (gross) for director and executive/management compensation (financing) 1 9 7 Obligations to fund low income housing investments (investing) — 9 Loans transferred from held for investment to held for sale (investing) — 62 Hawaiian Electric consolidated Electric utility property, plant and equipment Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 22 27 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 37 38 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements (Tables

Fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2022
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. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total June 30, 2022 Financial assets HEI consolidated Available-for-sale investment securities $ 2,444,267 $ — $ 2,429,102 $ 15,165 $ 2,444,267 Held-to-maturity investment securities 513,767 — 440,023 — 440,023 Loans, net 5,361,277 — 3,737 5,096,243 5,099,980 Mortgage servicing rights 9,696 — — 17,201 17,201 Derivative assets 22,689 27 1,074 — 1,101 Financial liabilities HEI consolidated Deposit liabilities 407,972 — 397,909 — 397,909 Short-term borrowings—other than bank 124,017 — 124,017 — 124,017 Other bank borrowings 241,610 — 241,606 — 241,606 Long-term debt, net—other than bank 2,374,500 — 2,222,491 — 2,222,491 Derivative liabilities 124,000 — 810 — 810 Hawaiian Electric consolidated Short-term borrowings 54,987 — 54,987 — 54,987 Long-term debt, net 1,736,508 — 1,622,996 — 1,622,996 December 31, 2021 Financial assets HEI consolidated Available-for-sale investment securities $ 2,574,618 $ — $ 2,559,191 $ 15,427 $ 2,574,618 Held-to-maturity investment securities 522,270 — 510,474 — 510,474 Loans, net 5,150,388 — 10,403 5,218,121 5,228,524 Mortgage servicing rights 9,950 — — 14,480 14,480 Derivative assets 57,377 — 909 — 909 Financial liabilities HEI consolidated Deposit liabilities 423,976 — 442,361 — 442,361 Short-term borrowings—other than bank 53,998 — 53,998 — 53,998 Other bank borrowings 88,305 — 88,304 — 88,304 Long-term debt, net—other than bank 2,321,937 — 2,624,130 — 2,624,130 Derivative liabilities 57,000 11 5,271 — 5,282 Hawaiian Electric consolidated Long-term debt, net 1,676,402 — 1,955,710 — 1,955,710
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: June 30, 2022 December 31, 2021 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Available-for-sale investment securities (bank segment) Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies $ — $ 2,285,186 $ — $ — $ 2,437,923 $ — U.S. Treasury and federal agency obligations — 102,487 — — 90,090 — Corporate bonds — 41,429 — — 31,178 — Mortgage revenue bonds — — 15,165 — — 15,427 $ — $ 2,429,102 $ 15,165 $ — $ 2,559,191 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 44 $ — $ — $ 638 $ — Forward commitments (bank segment) 1 27 — — — — — Interest rate swap (Other segment) 2 — 1,030 — — 271 — $ 27 $ 1,074 $ — $ — $ 909 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ — $ — Forward commitments (bank segment) 1 — — — 11 — — Interest rate swap (Other segment) 2 — 810 — — 5,271 — $ — $ 810 $ — $ 11 $ 5,271 $ — 1 Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income. 2 Derivatives are included in other assets and other liabilities in the balance sheets.
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis	The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended June 30 Six months ended June 30 Mortgage revenue bonds 2022 2021 2022 2021 (in thousands) Beginning balance $ 15,296 $ 15,427 $ 15,427 $ 27,185 Principal payments received (131) — (262) (11,758) Purchases — — — — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 15,165 $ 15,427 $ 15,165 $ 15,427

Segment financial information_2

Segment financial information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segment financial information
Revenues	$ 895,607		$ 680,257		$ 1,680,675	$ 1,323,203
Income (loss) before income taxes	66,217		82,944		153,697	163,140
Income taxes (benefit)	13,203		18,599		31,043	33,964
Net income attributable to Hawaiian Electric	53,014		64,345		122,654	129,176
Preferred stock dividends of Hawaiian Electric	473		473		946	946
Net income for common stock	52,541	$ 69,167	63,872	$ 64,358	121,708	128,230
Total assets	16,001,743				16,001,743		$ 15,822,637
Revenues from external customers
Segment financial information
Revenues	895,607		680,257		1,680,675	1,323,203
Intersegment revenues (eliminations)
Segment financial information
Revenues	0		0		0	0
Electric utility
Segment financial information
Revenues	818,873		601,879		1,527,665	1,166,743
Income (loss) before income taxes	56,613		53,898		116,059	108,988
Income taxes (benefit)	11,979		11,498		24,517	22,731
Net income attributable to Hawaiian Electric	44,634		42,400		91,542	86,257
Preferred stock dividends of Hawaiian Electric	499		499		998	998
Net income for common stock	44,135		41,901		90,544	85,259
Total assets	6,686,996				6,686,996		6,491,625
Electric utility | Revenues from external customers
Segment financial information
Revenues	818,873		601,869		1,527,661	1,166,724
Electric utility | Intersegment revenues (eliminations)
Segment financial information
Revenues	0		10		4	19
Bank
Segment financial information
Revenues	75,324		77,260		150,439	154,391
Income (loss) before income taxes	22,109		39,992		52,324	77,094
Income taxes (benefit)	4,643		9,708		10,988	17,254
Net income attributable to Hawaiian Electric	17,466		30,284		41,336	59,840
Preferred stock dividends of Hawaiian Electric	0		0		0	0
Net income for common stock	17,466		30,284		41,336	59,840
Total assets	9,214,865				9,214,865		9,181,603
Bank | Revenues from external customers
Segment financial information
Revenues	75,324		77,260		150,439	154,391
Bank | Intersegment revenues (eliminations)
Segment financial information
Revenues	0		0		0	0
Other
Segment financial information
Revenues	1,410		1,118		2,571	2,069
Income (loss) before income taxes	(12,505)		(10,946)		(14,686)	(22,942)
Income taxes (benefit)	(3,419)		(2,607)		(4,462)	(6,021)
Net income attributable to Hawaiian Electric	(9,086)		(8,339)		(10,224)	(16,921)
Preferred stock dividends of Hawaiian Electric	(26)		(26)		(52)	(52)
Net income for common stock	(9,060)		(8,313)		(10,172)	(16,869)
Total assets	99,882				99,882		$ 149,409
Other | Revenues from external customers
Segment financial information
Revenues	1,410		1,128		2,575	2,088
Other | Intersegment revenues (eliminations)
Segment financial information
Revenues	$ 0		$ (10)		$ (4)	$ (19)

Electric utility segment - Unco

Electric utility segment - Unconsolidated variable interest entities (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2022 entity MW	Jun. 30, 2021 MW	Mar. 31, 2021 MW	Jun. 30, 2022 entity agreement
Power purchase agreement
Number of IPPs (in entities) | entity	3			3
Puna Geothermal Venture Power Purchase Agreement
Power purchase agreement
Firm capacity volume (in megawatts) | MW	25.7	23.9	13
Hawaiian Electric Company
Power purchase agreement
Number of power purchase agreements (PPAs) (in agreements) | agreement				5

Electric utility segment - Powe

Electric utility segment - Power purchase agreements (Details) $ in Millions	1 Months Ended				3 Months Ended		6 Months Ended		12 Months Ended
	Oct. 31, 2021	Jul. 31, 2018 MW	May 31, 2012 MW	Mar. 31, 1988 MW	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 1988 MW
Kalaeloa
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, extension period	10 years
Purchase commitment, price increase percentage					69%
AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, period (in years)				30 years
Minimum power volume required (in megawatts) | MW				180
Hu Honua Bioenergy, LLC
Regulatory Projects and Legal Obligations [Line Items]
Minimum power volume required (in megawatts) | MW			21.5
Molokai New Energy Partners
Regulatory Projects and Legal Obligations [Line Items]
Total contracted PV capacity (in megawatts) | MW		4.88
Total contracted battery energy storage system capacity | MW		3
Maximum power volume to be delivered (in megawatts) | MW		2.64
Hawaiian Electric
Regulatory Projects and Legal Obligations [Line Items]
Purchased power					$ 218	$ 163	$ 382	$ 305
Hawaiian Electric | Kalaeloa
Regulatory Projects and Legal Obligations [Line Items]
Purchased power					83	49	143	86
Increased power purchase commitment capacity (in megawatts) | MW									208
Hawaiian Electric | AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchased power					34	36	61	66
Hawaiian Electric | HPOWER
Regulatory Projects and Legal Obligations [Line Items]
Purchased power					19	14	38	31
Hawaiian Electric | Hamakua Energy
Regulatory Projects and Legal Obligations [Line Items]
Purchased power					14	12	30	23
Hawaiian Electric | Puna Geothermal Venture
Regulatory Projects and Legal Obligations [Line Items]
Purchased power					14	7	24	11
Hawaiian Electric | Wind IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power					38	28	56	57
Hawaiian Electric | Solar IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power					13	16	26	28
Hawaiian Electric | Other IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power					$ 3	$ 1	$ 4	$ 3

Electric utility segment - Util

Electric utility segment - Utility projects (Details)	1 Months Ended	6 Months Ended
	Nov. 30, 2019 USD ($) MW	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Nov. 30, 2021 USD ($)	Oct. 31, 2020 generationUnit transmission_line kV	Jun. 10, 2019 USD ($)	Oct. 31, 2018 USD ($)
Public Utilities, General Disclosures [Line Items]
Operating lease right-of-use assets		$ 120,600,000	$ 122,416,000
Federal
Public Utilities, General Disclosures [Line Items]
Tax credit deferral period		25 years
State
Public Utilities, General Disclosures [Line Items]
Tax credit deferral period		10 years
ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
Future O&M expense reductions						$ 150,000,000
Future cost avoidance related to capital cost and tax costs						$ 96,000,000
Hawaiian Electric Company, Inc. and Subsidiaries
Public Utilities, General Disclosures [Line Items]
Operating lease right-of-use assets		$ 99,690,000	$ 101,470,000
Hawaiian Electric Company, Inc. and Subsidiaries | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
ERP/EAM project service period (in years)		12 years
ERP/EAM project service, savings over 12 years							$ 246,000,000
Regulatory liability for O&M expense reductions		$ 9,600,000
Hawaiian Electric Company, Inc. and Subsidiaries | West Loch PV Project
Public Utilities, General Disclosures [Line Items]
Solar project, energy production (in megawatts) | MW	20
Solar project, project cap	$ 67,000,000
Solar project, project cap for in-kind work	$ 4,700,000
Solar project, cost incurred		60,100,000
Federal nonrefundable tax credits		14,700,000
State nonrefundable tax credits		14,000,000
Operating lease right-of-use assets		6,400,000
Hawaiian Electric Company, Inc. and Subsidiaries | Waena Switchyard/Synchronous Condenser Project
Public Utilities, General Disclosures [Line Items]
Number of extended transmission lines | transmission_line					2
Number of kilovolts | kV					69
Number of generating units converting to synchronous condensers | generationUnit					2
Renewable energy generation project, approved funds				$ 38,800,000
Renewable energy generation project, incurred cost		10,200,000
Hawaiian Electric | PCB Contamination
Public Utilities, General Disclosures [Line Items]
Valuation allowances and reserves		10,100,000
Hawaiian Electric | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
Regulatory liability for O&M expense reductions		4,800,000
Hawaii Electric Light | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
Regulatory liability for O&M expense reductions		1,900,000
Maui Electric
Public Utilities, General Disclosures [Line Items]
Additional accrued investigation and estimated cleanup costs		2,700,000
Maui Electric | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
Regulatory liability for O&M expense reductions		$ 2,900,000
Regulatory liability, amortization period		5 years

Electric utility segment - Regu

Electric utility segment - Regulatory proceedings (Details) $ in Millions

3 Months Ended

6 Months Ended

12 Months Ended

Nov. 12, 2021

Feb. 16, 2021 agreement

Dec. 23, 2020 USD ($)

Nov. 30, 2021 agreement

Jun. 30, 2022 USD ($) MWh contract project

Dec. 31, 2021 USD ($)

Dec. 31, 2019 USD ($) agreement

Jun. 17, 2022 mechanism staff

Feb. 28, 2022 USD ($)

Jun. 01, 2021 mechanism

Mar. 23, 2021 mechanism

Dec. 31, 2020 agreement

Jul. 09, 2020 agreement

Regulatory Projects and Legal Obligations [Line Items]

Propose pilots annual cap

$ 10

Potential total annual maximum reward

$ 2

Advanced metering infrastructure term

3 years

Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

Number of performance incentive mechanisms of concern | mechanism

11

Number of staff proposing penalty-only PIMs | staff

7

Number of performance incentive mechanisms | mechanism

2

3

2

Number of performance incentive mechanisms, penalty-only | mechanism

1

Multi-year rate period

5 years

Customer dividend, negative adjustment percentage

0.22%

Savings commitment liability, annual rate

$ 6.6

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

3%

Approved return on equity, percentage

9.50%

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

1.50%

MPIR requested amount

$ 25.9

EPRM approved projects | contract

2

EPRM approved projects, capital costs

$ 41

Number of projects | project

5

Estimated capital costs

$ 450

Development period

3 years

2021 deferred costs to be reviewed by the PUC

$ 0.1

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

10 years

Maximum penalty, percent of ROE

0.20%

Service reliability, pending adjusted maximum penalty amount

$ 6.8

Service reliability, estimated penalties

$ 0.2

Dead band percentage above or below the target

3%

Call center performance, maximum penalty percentage

0.08%

Call center performance, pending adjusted maximum penalty

$ 1.4

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

1

7

Incentives accrued

$ 0.1

$ 1.7

Number of grid service purchase agreements | agreement

2

2

Number of PPAs approved | agreement

2

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

20

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

15

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

10

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

20

Estimated rewards

1

Potential total annual maximum reward

$ 1.5

Potential total annual maximum reward

3

Total annual maximum penalty

0.9

Interconnection approval PIM, accrued estimated rewards

2.8

Performance incentive mechanism, maximum reward

$ 2

Performance incentive mechanism, term

3 years

Target performance historical measurement period

10 years

Percent of return on equity

300%

Pending adjusted amount

$ 1

Target performance period

10 months

Target deadband period

2 months

Accrued estimated rewards, net of penalties

3.7

Hawaiian Electric

Regulatory Projects and Legal Obligations [Line Items]

Public utilities retained percentage

20%

Public utilities retained amount

$ 5

Accrued estimated rewards, net of penalties

2.8

Hawaii Electric Light

Regulatory Projects and Legal Obligations [Line Items]

Public utilities retained percentage

5%

Public utilities retained amount

$ 1

Accrued estimated rewards, net of penalties

0.4

Maui Electric

Regulatory Projects and Legal Obligations [Line Items]

Public utilities retained percentage

5%

Public utilities retained amount

$ 1

Accrued estimated rewards, net of penalties

$ 0.5

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

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

16.5

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

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

3.3

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

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

$ 6.1

Electric utility segment - Annu

Electric utility segment - Annual decoupling filings summary (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Regulatory Projects and Legal Obligations [Line Items]
Incremental accrued RBA balance	$ (8.3)
Incremental Performance Incentive Mechanisms (net)	2.7
Incremental MPIR/EPRM Revenue Adjustment	2.8
Other	(0.1)
Net incremental amount to be collected under the RBA rate tariffs	(2.9)
Hawaiian Electric
Regulatory Projects and Legal Obligations [Line Items]
Incremental accrued RBA balance	(5.7)
Incremental Performance Incentive Mechanisms (net)	1.9
Incremental MPIR/EPRM Revenue Adjustment	1.3
Other	(0.1)
Net incremental amount to be collected under the RBA rate tariffs	(2.6)
Hawaii Electric Light
Regulatory Projects and Legal Obligations [Line Items]
Incremental accrued RBA balance	2.1
Incremental Performance Incentive Mechanisms (net)	0.4
Incremental MPIR/EPRM Revenue Adjustment	0.8
Other	0
Net incremental amount to be collected under the RBA rate tariffs	3.3
Maui Electric
Regulatory Projects and Legal Obligations [Line Items]
Incremental accrued RBA balance	(4.7)
Incremental Performance Incentive Mechanisms (net)	0.4
Incremental MPIR/EPRM Revenue Adjustment	0.7
Other	0
Net incremental amount to be collected under the RBA rate tariffs	$ (3.6)

Electric utility segment - Most

Electric utility segment - Most recent rate proceedings (Details) - Hawaiian Electric Company, Inc. and Subsidiaries $ in Millions				1 Months Ended
	Jun. 09, 2022 USD ($)	Mar. 01, 2022 USD ($)	Oct. 30, 2020 USD ($) installation	Dec. 31, 2021 USD ($)
Regulatory Projects and Legal Obligations [Line Items]
Recovery of deferral costs	$ 27.8
Recovery of deferral costs period	3 years
Public utilities, electric distribution system, contract period		50 years	50 years
Number of U.S. army installations being serviced | installation			12
Purchase price		$ 14.5
price of acquisition, expected			$ 4
Transition period		1 year
Capital upgrade over the period		6 years
COVID-19
Regulatory Projects and Legal Obligations [Line Items]
Customer bill forgiveness				$ 2

Electric utility segment - Cond

Electric utility segment - Condensed consolidating statement of income (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Condensed Income Statements, Captions [Line Items]
Revenues	$ 895,607		$ 680,257		$ 1,680,675	$ 1,323,203
Expenses
Total expenses	808,939		578,401		1,494,731	1,123,316
Total operating income	86,668		101,856		185,944	199,887
Allowance for equity funds used during construction	2,470		2,377		4,879	4,568
Retirement defined benefits credit—other than service costs	1,246		1,216		2,489	3,651
Allowance for borrowed funds used during construction	798		812		1,576	1,559
Income before income taxes	66,217		82,944		153,697	163,140
Income taxes	13,203		18,599		31,043	33,964
Net income attributable to Hawaiian Electric	53,014		64,345		122,654	129,176
Preferred stock dividends of Hawaiian Electric	473		473		946	946
Net income for common stock	52,541	$ 69,167	63,872	$ 64,358	121,708	128,230
Consolidating adjustments
Expenses
Total expenses			0
Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	818,873		601,879		1,527,665	1,166,743
Expenses
Fuel oil	269,655		139,136		490,941	266,563
Purchased power	218,085		162,465		381,618	304,761
Other operation and maintenance	124,892		118,142		250,149	232,712
Depreciation	58,739		57,381		117,210	114,736
Taxes, other than income taxes	76,348		57,071		142,998	111,173
Total expenses	747,719		534,195		1,382,916	1,029,945
Total operating income	71,154		67,684		144,749	136,798
Allowance for equity funds used during construction	2,470		2,377		4,879	4,568
Equity in earnings of subsidiaries	0		0		0	0
Retirement defined benefits credit—other than service costs	991		1,020		1,981	2,041
Interest expense and other charges, net	(18,800)		(17,995)		(37,126)	(35,978)
Allowance for borrowed funds used during construction	798		812		1,576	1,559
Income before income taxes	56,613		53,898		116,059	108,988
Income taxes	11,979		11,498		24,517	22,731
Net income	44,634		42,400		91,542	86,257
Preferred stock dividends of subsidiaries	229		229		458	458
Net income attributable to Hawaiian Electric	44,405		42,171		91,084	85,799
Preferred stock dividends of Hawaiian Electric	270		270		540	540
Net income for common stock	44,135	$ 46,409	41,901	$ 43,358	90,544	85,259
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric
Condensed Income Statements, Captions [Line Items]
Revenues	576,472		422,697		1,076,714	823,251
Expenses
Fuel oil	184,297		91,345		338,722	180,073
Purchased power	165,202		124,948		289,385	233,552
Other operation and maintenance	82,707		77,903		166,363	155,238
Depreciation	39,501		38,907		78,985	77,821
Taxes, other than income taxes	54,025		40,301		101,299	78,928
Total expenses	525,732		373,404		974,754	725,612
Total operating income	50,740		49,293		101,960	97,639
Allowance for equity funds used during construction	1,946		1,930		3,936	3,678
Equity in earnings of subsidiaries	12,237		10,744		25,898	23,254
Retirement defined benefits credit—other than service costs	856		884		1,711	1,770
Interest expense and other charges, net	(13,519)		(12,829)		(26,612)	(25,661)
Allowance for borrowed funds used during construction	637		654		1,288	1,245
Income before income taxes	52,897		50,676		108,181	101,925
Income taxes	8,492		8,505		17,097	16,126
Net income	44,405		42,171		91,084	85,799
Preferred stock dividends of subsidiaries	0		0		0	0
Net income attributable to Hawaiian Electric	44,405		42,171		91,084	85,799
Preferred stock dividends of Hawaiian Electric	270		270		540	540
Net income for common stock	44,135		41,901		90,544	85,259
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Condensed Income Statements, Captions [Line Items]
Revenues	124,502		91,512		233,030	176,661
Expenses
Fuel oil	33,065		19,586		58,316	36,071
Purchased power	38,735		24,236		69,447	45,833
Other operation and maintenance	21,331		19,474		41,545	37,386
Depreciation	10,352		10,053		20,703	20,101
Taxes, other than income taxes	11,378		8,539		21,410	16,532
Total expenses	114,861		81,888		211,421	155,923
Total operating income	9,641		9,624		21,609	20,738
Allowance for equity funds used during construction	217		140		410	272
Equity in earnings of subsidiaries	0		0		0	0
Retirement defined benefits credit—other than service costs	167		169		334	337
Interest expense and other charges, net	(2,642)		(2,573)		(5,251)	(5,154)
Allowance for borrowed funds used during construction	67		48		127	92
Income before income taxes	7,450		7,408		17,229	16,285
Income taxes	1,659		1,668		3,927	3,719
Net income	5,791		5,740		13,302	12,566
Preferred stock dividends of subsidiaries	133		133		267	267
Net income attributable to Hawaiian Electric	5,658		5,607		13,035	12,299
Preferred stock dividends of Hawaiian Electric	0		0		0	0
Net income for common stock	5,658		5,607		13,035	12,299
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Condensed Income Statements, Captions [Line Items]
Revenues	117,928		87,670		217,956	166,851
Expenses
Fuel oil	52,293		28,205		93,903	50,419
Purchased power	14,148		13,281		22,786	25,376
Other operation and maintenance	20,854		20,765		42,241	40,088
Depreciation	8,886		8,421		17,522	16,814
Taxes, other than income taxes	10,945		8,231		20,289	15,713
Total expenses	107,126		78,903		196,741	148,410
Total operating income	10,802		8,767		21,215	18,441
Allowance for equity funds used during construction	307		307		533	618
Equity in earnings of subsidiaries	0		0		0	0
Retirement defined benefits credit—other than service costs	(32)		(33)		(64)	(66)
Interest expense and other charges, net	(2,668)		(2,593)		(5,298)	(5,183)
Allowance for borrowed funds used during construction	94		110		161	222
Income before income taxes	8,503		6,558		16,547	14,032
Income taxes	1,828		1,325		3,493	2,886
Net income	6,675		5,233		13,054	11,146
Preferred stock dividends of subsidiaries	96		96		191	191
Net income attributable to Hawaiian Electric	6,579		5,137		12,863	10,955
Preferred stock dividends of Hawaiian Electric	0		0		0	0
Net income for common stock	6,579		5,137		12,863	10,955
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenues	0		0		0	0
Expenses
Fuel oil	0		0		0	0
Purchased power	0		0		0	0
Other operation and maintenance	0		0		0	0
Depreciation	0		0		0	0
Taxes, other than income taxes	0		0		0	0
Total expenses	0		0		0	0
Total operating income	0		0		0	0
Allowance for equity funds used during construction	0		0		0	0
Equity in earnings of subsidiaries	0		0		0	0
Retirement defined benefits credit—other than service costs	0		0		0	0
Interest expense and other charges, net	0		0		0	0
Allowance for borrowed funds used during construction	0		0		0	0
Income before income taxes	0		0		0	0
Income taxes	0		0		0	0
Net income	0		0		0	0
Preferred stock dividends of subsidiaries	0		0		0	0
Net income attributable to Hawaiian Electric	0		0		0	0
Preferred stock dividends of Hawaiian Electric	0		0		0	0
Net income for common stock	0		0		0	0
Hawaiian Electric Consolidated | Consolidating adjustments
Condensed Income Statements, Captions [Line Items]
Revenues	(29)		0		(35)	(20)
Expenses
Fuel oil	0		0		0	0
Purchased power	0		0		0	0
Other operation and maintenance	0		0		0	0
Depreciation	0		0		0	0
Taxes, other than income taxes	0		0		0	0
Total expenses	0				0	0
Total operating income	(29)		0		(35)	(20)
Allowance for equity funds used during construction	0		0		0	0
Equity in earnings of subsidiaries	(12,237)		(10,744)		(25,898)	(23,254)
Retirement defined benefits credit—other than service costs	0		0		0	0
Interest expense and other charges, net	29		0		35	20
Allowance for borrowed funds used during construction	0		0		0	0
Income before income taxes	(12,237)		(10,744)		(25,898)	(23,254)
Income taxes	0		0		0	0
Net income	(12,237)		(10,744)		(25,898)	(23,254)
Preferred stock dividends of subsidiaries	0		0		0	0
Net income attributable to Hawaiian Electric	(12,237)		(10,744)		(25,898)	(23,254)
Preferred stock dividends of Hawaiian Electric	0		0		0	0
Net income for common stock	$ (12,237)		$ (10,744)		$ (25,898)	$ (23,254)

Electric utility segment - Co_2

Electric utility segment - Condensed consolidating statement of comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 52,541	$ 69,167	$ 63,872	$ 64,358	$ 121,708	$ 128,230
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	122		6,008		4,623	12,018
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	56		(5,811)		(4,269)	(11,622)
Other comprehensive income (loss), net of taxes	(87,840)	(117,159)	16,472	(44,016)	(204,999)	(27,544)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(35,299)		80,344		(83,291)	100,686
Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income for common stock	44,135	46,409	41,901	43,358	90,544	85,259
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	(5)		5,846		4,371	11,691
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	56		(5,811)		(4,269)	(11,622)
Other comprehensive income (loss), net of taxes	51	$ 51	35	$ 34	102	69
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	44,186		41,936		90,646	85,328
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric
Condensed Statement of Income Captions [Line Items]
Net income for common stock	44,135		41,901		90,544	85,259
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	(5)		5,846		4,371	11,691
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	56		(5,811)		(4,269)	(11,622)
Other comprehensive income (loss), net of taxes	51		35		102	69
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	44,186		41,936		90,646	85,328
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Condensed Statement of Income Captions [Line Items]
Net income for common stock	5,658		5,607		13,035	12,299
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	(72)		834		598	1,669
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	74		(834)		(596)	(1,668)
Other comprehensive income (loss), net of taxes	2		0		2	1
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	5,660		5,607		13,037	12,300
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Condensed Statement of Income Captions [Line Items]
Net income for common stock	6,579		5,137		12,863	10,955
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	603		761		1,206	1,522
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(602)		(761)		(1,205)	(1,522)
Other comprehensive income (loss), net of taxes	1		0		1	0
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	6,580		5,137		12,864	10,955
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Condensed Statement of Income Captions [Line Items]
Net income for common stock	0		0		0	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 taxes	0		0		0	0
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	0		0		0	0
Other comprehensive income (loss), net of taxes	0		0		0	0
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	0		0		0	0
Hawaiian Electric Consolidated | Consolidating adjustments
Condensed Statement of Income Captions [Line Items]
Net income for common stock	(12,237)		(10,744)		(25,898)	(23,254)
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	(531)		(1,595)		(1,804)	(3,191)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	528		1,595		1,801	3,190
Other comprehensive income (loss), net of taxes	(3)		0		(3)	(1)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ (12,240)		$ (10,744)		$ (25,901)	$ (23,255)

Electric utility segment - Co_3

Electric utility segment - Condensed consolidating balance sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Utility property, plant and equipment
Total property, plant and equipment, net	$ 5,429,420		$ 5,392,068
Current assets
Cash and cash equivalents	159,672		305,551	$ 247,443
Restricted cash	5,386		5,911	10,618
Other long-term assets
Operating lease right-of-use assets	120,600		122,416
Total assets	16,001,743		15,822,637
Capitalization
Common stock equity	2,233,504	$ 2,303,642	2,390,884	2,367,329	$ 2,321,293	$ 2,337,502
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293		34,293
Current liabilities
Interest and preferred dividends payable	20,661		19,889
Deferred credits and other liabilities
Deferred income taxes	302,346		384,760
Total liabilities and shareholders’ equity	16,001,743		15,822,637
Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	52,060		51,937
Plant and equipment	7,840,615		7,735,983
Less accumulated depreciation	(3,026,295)		(2,940,517)
Construction in progress	226,679		204,569
Utility property, plant and equipment, net	5,093,059		5,051,972
Nonutility property, plant and equipment, less accumulated depreciation	6,947		6,949
Total property, plant and equipment, net	5,100,006		5,058,921
Investment in wholly owned subsidiaries, at equity	0		0
Current assets
Cash and cash equivalents	15,503		52,169	23,666
Restricted cash	1,129		3,089	8,968
Advances to affiliates	0		0
Customer accounts receivable, net	247,270		186,859
Accrued unbilled revenues, net	178,876		129,155
Other accounts receivable, net	10,388		7,267
Fuel oil stock, at average cost	223,787		104,078
Materials and supplies, at average cost	74,581		71,877
Prepayments and other	36,540		46,031
Regulatory assets	73,578		66,664
Total current assets	861,652		667,189
Other long-term assets
Operating lease right-of-use assets	99,690		101,470
Regulatory assets	457,322		498,879
Other	168,326		165,166
Total other long-term assets	725,338		765,515
Total assets	6,686,996		6,491,625
Capitalization
Common stock equity	2,289,595	$ 2,276,884	2,261,899	2,171,396	$ 2,157,385	2,141,918
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293		34,293
Long-term debt, net	1,684,520		1,624,427
Total capitalization	4,008,408		3,920,619
Current liabilities
Current portion of operating lease liabilities	27,976		49,368
Current portion of long-term debt	51,988		51,975
Short-term borrowings from non-affiliates	54,987		0
Short-term borrowings from affiliate	0		0
Accounts payable	199,156		160,007
Interest and preferred dividends payable	17,796		17,325
Taxes accrued, including revenue taxes	211,999		208,280
Regulatory liabilities	22,633		29,760
Other	80,624		71,569
Total current liabilities	667,159		588,284
Deferred credits and other liabilities
Operating lease liabilities	86,111		65,780
Deferred income taxes	400,110		408,634
Regulatory liabilities	985,442		967,008
Unamortized tax credits	100,112		103,945
Defined benefit pension and other postretirement benefit plans liability	315,475		321,780
Other	124,179		115,575
Total deferred credits and other liabilities	2,011,429		1,982,722
Total liabilities and shareholders’ equity	6,686,996		6,491,625
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric
Utility property, plant and equipment
Land	42,860		42,737
Plant and equipment	5,178,903		5,097,033
Less accumulated depreciation	(1,816,724)		(1,757,096)
Construction in progress	173,970		159,854
Utility property, plant and equipment, net	3,579,009		3,542,528
Nonutility property, plant and equipment, less accumulated depreciation	5,300		5,302
Total property, plant and equipment, net	3,584,309		3,547,830
Investment in wholly owned subsidiaries, at equity	686,338		676,237
Current assets
Cash and cash equivalents	6,578		23,344	17,367
Restricted cash	1,129		3,089	8,968
Advances to affiliates	3,000		1,000
Customer accounts receivable, net	176,838		135,949
Accrued unbilled revenues, net	128,083		92,469
Other accounts receivable, net	20,525		18,624
Fuel oil stock, at average cost	178,911		71,184
Materials and supplies, at average cost	43,836		42,006
Prepayments and other	27,424		32,140
Regulatory assets	64,999		58,695
Total current assets	651,323		478,500
Other long-term assets
Operating lease right-of-use assets	49,326		78,710
Regulatory assets	309,077		337,903
Other	129,402		130,546
Total other long-term assets	487,805		547,159
Total assets	5,409,775		5,249,726
Capitalization
Common stock equity	2,289,595		2,261,899	2,171,396		2,141,918
Preferred stock of subsidiaries - not subject to mandatory redemption	22,293		22,293
Long-term debt, net	1,176,691		1,136,620
Total capitalization	3,488,579		3,420,812
Current liabilities
Current portion of operating lease liabilities	18,985		45,955
Current portion of long-term debt	39,991		39,981
Short-term borrowings from non-affiliates	54,987
Short-term borrowings from affiliate	10,000		0
Accounts payable	156,222		111,024
Interest and preferred dividends payable	12,779		12,442
Taxes accrued, including revenue taxes	145,594		143,723
Regulatory liabilities	14,614		22,240
Other	61,438		56,752
Total current liabilities	514,610		432,117
Deferred credits and other liabilities
Operating lease liabilities	44,498		46,426
Deferred income taxes	285,438		291,027
Regulatory liabilities	709,954		695,152
Unamortized tax credits	73,441		76,201
Defined benefit pension and other postretirement benefit plans liability	216,789		220,480
Other	76,466		67,511
Total deferred credits and other liabilities	1,406,586		1,396,797
Total liabilities and shareholders’ equity	5,409,775		5,249,726
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Utility property, plant and equipment
Land	5,606		5,606
Plant and equipment	1,399,002		1,390,361
Less accumulated depreciation	(633,559)		(619,991)
Construction in progress	20,725		17,129
Utility property, plant and equipment, net	791,774		793,105
Nonutility property, plant and equipment, less accumulated depreciation	115		115
Total property, plant and equipment, net	791,889		793,220
Investment in wholly owned subsidiaries, at equity	0		0
Current assets
Cash and cash equivalents	5,754		5,326	3,754
Restricted cash	0		0	0
Advances to affiliates	0		0
Customer accounts receivable, net	37,631		28,469
Accrued unbilled revenues, net	26,245		19,529
Other accounts receivable, net	3,063		3,347
Fuel oil stock, at average cost	17,254		12,814
Materials and supplies, at average cost	10,001		9,727
Prepayments and other	4,911		6,052
Regulatory assets	4,452		3,051
Total current assets	109,311		88,315
Other long-term assets
Operating lease right-of-use assets	36,743		22,442
Regulatory assets	76,660		81,645
Other	19,163		17,124
Total other long-term assets	132,566		121,211
Total assets	1,033,766		1,002,746
Capitalization
Common stock equity	337,737		332,900	322,451		317,451
Preferred stock of subsidiaries - not subject to mandatory redemption	7,000		7,000
Long-term debt, net	244,393		234,390
Total capitalization	589,130		574,290
Current liabilities
Current portion of operating lease liabilities	6,441		3,378
Current portion of long-term debt	11,997		11,994
Short-term borrowings from non-affiliates	0
Short-term borrowings from affiliate	3,000		1,000
Accounts payable	22,524		26,139
Interest and preferred dividends payable	2,677		2,617
Taxes accrued, including revenue taxes	34,157		33,153
Regulatory liabilities	3,532		3,247
Other	17,749		14,158
Total current liabilities	102,077		95,686
Deferred credits and other liabilities
Operating lease liabilities	30,428		19,063
Deferred income taxes	51,403		53,298
Regulatory liabilities	182,303		179,267
Unamortized tax credits	13,643		14,212
Defined benefit pension and other postretirement benefit plans liability	47,783		48,900
Other	16,999		18,030
Total deferred credits and other liabilities	342,559		332,770
Total liabilities and shareholders’ equity	1,033,766		1,002,746
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Utility property, plant and equipment
Land	3,594		3,594
Plant and equipment	1,262,710		1,248,589
Less accumulated depreciation	(576,012)		(563,430)
Construction in progress	31,984		27,586
Utility property, plant and equipment, net	722,276		716,339
Nonutility property, plant and equipment, less accumulated depreciation	1,532		1,532
Total property, plant and equipment, net	723,808		717,871
Investment in wholly owned subsidiaries, at equity	0		0
Current assets
Cash and cash equivalents	3,094		23,422	2,468
Restricted cash	0		0	0
Advances to affiliates	10,000		0
Customer accounts receivable, net	32,801		22,441
Accrued unbilled revenues, net	24,548		17,157
Other accounts receivable, net	3,320		3,031
Fuel oil stock, at average cost	27,622		20,080
Materials and supplies, at average cost	20,744		20,144
Prepayments and other	3,593		7,114
Regulatory assets	4,127		4,918
Total current assets	129,849		118,307
Other long-term assets
Operating lease right-of-use assets	13,621		318
Regulatory assets	71,585		79,331
Other	20,280		18,510
Total other long-term assets	105,486		98,159
Total assets	959,143		934,337
Capitalization
Common stock equity	348,524		343,260	312,768		309,363
Preferred stock of subsidiaries - not subject to mandatory redemption	5,000		5,000
Long-term debt, net	263,436		253,417
Total capitalization	616,960		601,677
Current liabilities
Current portion of operating lease liabilities	2,550		35
Current portion of long-term debt	0		0
Short-term borrowings from non-affiliates	0
Short-term borrowings from affiliate	0		0
Accounts payable	20,410		22,844
Interest and preferred dividends payable	2,350		2,269
Taxes accrued, including revenue taxes	31,636		30,679
Regulatory liabilities	4,487		4,273
Other	18,105		18,540
Total current liabilities	79,538		78,640
Deferred credits and other liabilities
Operating lease liabilities	11,185		291
Deferred income taxes	63,269		64,309
Regulatory liabilities	93,185		92,589
Unamortized tax credits	13,028		13,532
Defined benefit pension and other postretirement benefit plans liability	51,264		53,257
Other	30,714		30,042
Total deferred credits and other liabilities	262,645		254,020
Total liabilities and shareholders’ equity	959,143		934,337
Hawaiian Electric Consolidated | Reportable Legal Entities | 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	77		77	77
Restricted cash	0		0	0
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	77		77
Other long-term assets
Operating lease right-of-use assets	0		0
Regulatory assets	0		0
Other	0		0
Total other long-term assets	0		0
Total assets	77		77
Capitalization
Common stock equity	77		77	77		77
Preferred stock of subsidiaries - not subject to mandatory redemption	0		0
Long-term debt, net	0		0
Total capitalization	77		77
Current liabilities
Current portion of operating lease liabilities	0		0
Current portion of long-term debt	0		0
Short-term borrowings from non-affiliates	0
Short-term borrowings from affiliate	0		0
Accounts payable	0		0
Interest and preferred dividends payable	0		0
Taxes accrued, including revenue taxes	0		0
Regulatory liabilities	0		0
Other	0		0
Total current liabilities	0		0
Deferred credits and other liabilities
Operating lease liabilities	0		0
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
Total liabilities and shareholders’ equity	77		77
Hawaiian Electric Consolidated | 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	(686,338)		(676,237)
Current assets
Cash and cash equivalents	0		0	0
Restricted cash	0		0	0
Advances to affiliates	(13,000)		(1,000)
Customer accounts receivable, net	0		0
Accrued unbilled revenues, net	0		0
Other accounts receivable, net	(16,520)		(17,735)
Fuel oil stock, at average cost	0		0
Materials and supplies, at average cost	0		0
Prepayments and other	612		725
Regulatory assets	0		0
Total current assets	(28,908)		(18,010)
Other long-term assets
Operating lease right-of-use assets	0		0
Regulatory assets	0		0
Other	(519)		(1,014)
Total other long-term assets	(519)		(1,014)
Total assets	(715,765)		(695,261)
Capitalization
Common stock equity	(686,338)		(676,237)	$ (635,296)		$ (626,891)
Preferred stock of subsidiaries - not subject to mandatory redemption	0		0
Long-term debt, net	0		0
Total capitalization	(686,338)		(676,237)
Current liabilities
Current portion of operating lease liabilities	0		0
Current portion of long-term debt	0		0
Short-term borrowings from non-affiliates	0
Short-term borrowings from affiliate	(13,000)		(1,000)
Accounts payable	0		0
Interest and preferred dividends payable	(10)		(3)
Taxes accrued, including revenue taxes	612		725
Regulatory liabilities	0		0
Other	(16,668)		(17,881)
Total current liabilities	(29,066)		(18,159)
Deferred credits and other liabilities
Operating lease liabilities	0		0
Deferred income taxes	0		0
Regulatory liabilities	0		0
Unamortized tax credits	0		0
Defined benefit pension and other postretirement benefit plans liability	(361)		(857)
Other	0		(8)
Total deferred credits and other liabilities	(361)		(865)
Total liabilities and shareholders’ equity	$ (715,765)		$ (695,261)

Electric utility segment - Co_4

Electric utility segment - Condensed consolidating statement of changes in common stock equity (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Increase (decrease) in stockholders' equity
Beginning balance	$ 2,303,642	$ 2,390,884	$ 2,321,293	$ 2,337,502	$ 2,390,884	$ 2,337,502
Net income for common stock	52,541	69,167	63,872	64,358	121,708	128,230
Other comprehensive income, net of taxes	(87,840)	(117,159)	16,472	(44,016)	(204,999)	(27,544)
Common stock dividends	(38,301)	(38,301)	(37,155)	(37,156)
Ending balance	2,233,504	2,303,642	2,367,329	2,321,293	2,233,504	2,367,329
Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance	2,276,884	2,261,899	2,157,385	2,141,918	2,261,899	2,141,918
Net income for common stock	44,135	46,409	41,901	43,358	90,544	85,259
Other comprehensive income, net of taxes	51	51	35	34	102	69
Common stock dividends	(31,475)	(31,475)	(27,925)	(27,925)	(62,950)	(55,850)
Ending balance	2,289,595	2,276,884	2,171,396	2,157,385	2,289,595	2,171,396
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric
Increase (decrease) in stockholders' equity
Beginning balance		2,261,899		2,141,918	2,261,899	2,141,918
Net income for common stock	44,135		41,901		90,544	85,259
Other comprehensive income, net of taxes	51		35		102	69
Common stock dividends					(62,950)	(55,850)
Ending balance	2,289,595		2,171,396		2,289,595	2,171,396
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Increase (decrease) in stockholders' equity
Beginning balance		332,900		317,451	332,900	317,451
Net income for common stock	5,658		5,607		13,035	12,299
Other comprehensive income, net of taxes	2		0		2	1
Common stock dividends					(8,200)	(7,300)
Ending balance	337,737		322,451		337,737	322,451
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Increase (decrease) in stockholders' equity
Beginning balance		343,260		309,363	343,260	309,363
Net income for common stock	6,579		5,137		12,863	10,955
Other comprehensive income, net of taxes	1		0		1	0
Common stock dividends					(7,600)	(7,550)
Ending balance	348,524		312,768		348,524	312,768
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Increase (decrease) in stockholders' equity
Beginning balance		77		77	77	77
Net income for common stock	0		0		0	0
Other comprehensive income, net of taxes	0		0		0	0
Ending balance	77		77		77	77
Hawaiian Electric Consolidated | Consolidating adjustments
Increase (decrease) in stockholders' equity
Beginning balance		$ (676,237)		$ (626,891)	(676,237)	(626,891)
Net income for common stock	(12,237)		(10,744)		(25,898)	(23,254)
Other comprehensive income, net of taxes	(3)		0		(3)	(1)
Common stock dividends					15,800	14,850
Ending balance	$ (686,338)		$ (635,296)		$ (686,338)	$ (635,296)

Electric utility segment - Co_5

Electric utility segment - Condensed consolidating statement of cash flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Cash flows from operating activities
Net cash provided by operating activities	$ 74,642	$ 117,587
Cash flows from investing activities
Capital expenditures	(147,749)	(148,414)
Other	15,813	7,805
Net cash used in investing activities	(497,031)	(771,432)
Cash flows from financing activities
Common stock dividends	(76,602)	(74,311)
Repayment of short-term debt	0	(65,000)
Proceeds from issuance of long-term debt	67,312	191,487
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	153,305	39,995
Other	(318)	(2,037)
Net cash provided by financing activities	275,985	552,927
Net decrease in cash, cash equivalents and restricted cash	(146,404)	(100,918)
Cash, cash equivalents and restricted cash, beginning of period	311,462	358,979
Cash, cash equivalents and restricted cash, end of period	165,058	258,061
Less: Restricted cash	(5,386)	(10,618)	$ (5,911)
Cash and cash equivalents, end of period	159,672	247,443	305,551
Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by operating activities	44,150	57,453
Cash flows from investing activities
Capital expenditures	(140,245)	(138,025)
Advances to affiliates	0	0
Other	6,685	4,670
Net cash used in investing activities	(133,560)	(133,355)
Cash flows from financing activities
Common stock dividends	(62,950)	(55,850)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(998)	(998)
Repayment of short-term debt	0	(50,000)
Proceeds from issuance of long-term debt	60,000	115,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	54,987	37,999
Other	(255)	(941)
Net cash provided by financing activities	50,784	45,210
Net decrease in cash, cash equivalents and restricted cash	(38,626)	(30,692)
Cash, cash equivalents and restricted cash, beginning of period	55,258	63,326
Cash, cash equivalents and restricted cash, end of period	16,632	32,634
Less: Restricted cash	(1,129)	(8,968)	(3,089)
Cash and cash equivalents, end of period	15,503	23,666	52,169
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric
Cash flows from operating activities
Net cash provided by operating activities	25,367	43,623
Cash flows from investing activities
Capital expenditures	(87,892)	(92,352)
Advances to affiliates	(2,000)	22,900
Other	4,471	3,087
Net cash used in investing activities	(85,421)	(66,365)
Cash flows from financing activities
Common stock dividends	(62,950)	(55,850)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(540)	(540)
Repayment of short-term debt		(50,000)
Proceeds from issuance of long-term debt	40,000	60,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	64,987	37,999
Other	(169)	(703)
Net cash provided by financing activities	41,328	(9,094)
Net decrease in cash, cash equivalents and restricted cash	(18,726)	(31,836)
Cash, cash equivalents and restricted cash, beginning of period	26,433	58,171
Cash, cash equivalents and restricted cash, end of period	7,707	26,335
Less: Restricted cash	(1,129)	(8,968)	(3,089)
Cash and cash equivalents, end of period	6,578	17,367	23,344
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Cash flows from operating activities
Net cash provided by operating activities	19,742	15,315
Cash flows from investing activities
Capital expenditures	(23,638)	(22,135)
Advances to affiliates	0	0
Other	834	911
Net cash used in investing activities	(22,804)	(21,224)
Cash flows from financing activities
Common stock dividends	(8,200)	(7,300)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(267)	(267)
Repayment of short-term debt		0
Proceeds from issuance of long-term debt	10,000	30,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	2,000	(15,700)
Other	(43)	(116)
Net cash provided by financing activities	3,490	6,617
Net decrease in cash, cash equivalents and restricted cash	428	708
Cash, cash equivalents and restricted cash, beginning of period	5,326	3,046
Cash, cash equivalents and restricted cash, end of period	5,754	3,754
Less: Restricted cash	0	0	0
Cash and cash equivalents, end of period	5,754	3,754	5,326
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Cash flows from operating activities
Net cash provided by operating activities	14,841	13,365
Cash flows from investing activities
Capital expenditures	(28,715)	(23,538)
Advances to affiliates	(10,000)	0
Other	1,380	672
Net cash used in investing activities	(37,335)	(22,866)
Cash flows from financing activities
Common stock dividends	(7,600)	(7,550)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(191)	(191)
Repayment of short-term debt		0
Proceeds from issuance of long-term debt	10,000	25,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	0	(7,200)
Other	(43)	(122)
Net cash provided by financing activities	2,166	9,937
Net decrease in cash, cash equivalents and restricted cash	(20,328)	436
Cash, cash equivalents and restricted cash, beginning of period	23,422	2,032
Cash, cash equivalents and restricted cash, end of period	3,094	2,468
Less: Restricted cash	0	0	0
Cash and cash equivalents, end of period	3,094	2,468	23,422
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Cash flows from operating activities
Net cash provided by operating activities	0	0
Cash flows from investing activities
Capital expenditures	0	0
Advances to affiliates	0	0
Other	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities
Common stock dividends	0	0
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0
Repayment of short-term debt		0
Proceeds from issuance of long-term debt	0	0
Net increase (decrease) 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 decrease in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	77	77
Cash, cash equivalents and restricted cash, end of period	77	77
Less: Restricted cash	0	0	0
Cash and cash equivalents, end of period	77	77	77
Hawaiian Electric Consolidated | Consolidating adjustments
Cash flows from operating activities
Net cash provided by operating activities	(15,800)	(14,850)
Cash flows from investing activities
Capital expenditures	0	0
Advances to affiliates	12,000	(22,900)
Other	0	0
Net cash used in investing activities	12,000	(22,900)
Cash flows from financing activities
Common stock dividends	15,800	14,850
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0
Repayment of short-term debt		0
Proceeds from issuance of long-term debt	0	0
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	(12,000)	22,900
Other	0	0
Net cash provided by financing activities	3,800	37,750
Net decrease in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Less: Restricted cash	0	0	0
Cash and cash equivalents, end of period	$ 0	$ 0	$ 0

Bank segment - Income statement

Bank segment - Income statement data (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Noninterest income
Noninterest income	$ 835,984		$ 604,827		$ 1,536,815	$ 1,146,127
Noninterest expense
Income before income taxes	66,217		82,944		153,697	163,140
Income taxes	13,203		18,599		31,043	33,964
Net income attributable to Hawaiian Electric	53,014		64,345		122,654	129,176
Other comprehensive income (loss), net of tax benefits	(87,840)	$ (117,159)	16,472	$ (44,016)	(204,999)	(27,544)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(35,299)		80,344		(83,291)	100,686
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans	48,129		51,026		94,134	100,973
Interest and dividends on investment securities	14,693		11,040		28,677	19,713
Total interest and dividend income	62,822		62,066		122,811	120,686
Interest expense
Interest on deposit liabilities	921		1,281		1,868	2,743
Interest on other borrowings	139		23		144	50
Total interest expense	1,060		1,304		2,012	2,793
Net interest income	61,762		60,762		120,799	117,893
Provision for credit losses	2,757		(12,207)		(506)	(20,642)
Net interest income after provision for credit losses	59,005		72,969		121,305	138,535
Noninterest income
Gain on sale of real estate	0		0		1,002	0
Total noninterest income	12,502		15,194		28,630	34,233
Noninterest expense
Compensation and employee benefits	27,666		27,670		54,881	55,707
Occupancy	5,467		5,100		11,419	10,069
Data processing	4,484		4,533		8,635	8,884
Services	2,522		2,475		4,961	5,337
Equipment	2,402		2,394		4,731	4,616
Office supplies, printing and postage	1,073		978		2,133	2,022
Marketing	934		665		1,952	1,313
FDIC insurance	891		788		1,699	1,604
Other expense	3,959		3,568		7,200	6,122
Total noninterest expense	49,398		48,171		97,611	95,674
Income before income taxes	22,109		39,992		52,324	77,094
Income taxes	4,643		9,708		10,988	17,254
Net income attributable to Hawaiian Electric	17,466		30,284		41,336	59,840
Other comprehensive income (loss), net of tax benefits	(88,835)		16,999		(211,276)	(28,755)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(71,369)		47,283		(169,940)	31,085
American Savings Bank (ASB) | Fees from other financial services
Noninterest income
Noninterest income	4,716		5,464		10,303	10,537
American Savings Bank (ASB) | Fee income on deposit liabilities
Noninterest income
Noninterest income	4,552		3,904		9,243	7,767
American Savings Bank (ASB) | Fee income on other financial products
Noninterest income
Noninterest income	2,529		2,201		5,247	4,643
American Savings Bank (ASB) | Bank-owned life insurance
Noninterest income
Noninterest income	(142)		1,624		539	4,185
American Savings Bank (ASB) | Mortgage banking income
Noninterest income
Noninterest income	372		1,925		1,449	6,225
American Savings Bank (ASB) | Gain on sale of investment securities, net
Noninterest income
Noninterest income	0		0		0	528
American Savings Bank (ASB) | Other income, net
Noninterest income
Noninterest income	$ 475		$ 76		$ 847	$ 348

Bank segment - Reconciliation o

Bank segment - Reconciliation of income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Condensed Income Statements, Captions [Line Items]
Less: Gain on sale of investment securities, net	$ 0	$ 0	$ 8,123	$ 528
Revenues	895,607	680,257	1,680,675	1,323,203
Less: Retirement defined benefits credit—other than service costs	(1,246)	(1,216)	(2,489)	(3,651)
Total expenses	808,939	578,401	1,494,731	1,123,316
Operating income - bank	86,668	101,856	185,944	199,887
Income before income taxes	66,217	82,944	153,697	163,140
American Savings Bank (ASB)
Condensed Income Statements, Captions [Line Items]
Interest and dividend income	62,822	62,066	122,811	120,686
Noninterest income	12,502	15,194	28,630	34,233
Less: Gain on sale of real estate	0	0	1,002	0
Less: Gain on sale of investment securities, net	0	0	0	528
Revenues	75,324	77,260	150,439	154,391
Total interest expense	1,060	1,304	2,012	2,793
Provision for credit losses	2,757	(12,207)	(506)	(20,642)
Noninterest expense	49,398	48,171	97,611	95,674
Less: Retirement defined benefits credit—other than service costs	(186)	(186)	(371)	(1,464)
Total expenses	53,401	37,454	98,486	79,289
Operating income - bank	21,923	39,806	51,953	75,102
Income before income taxes	$ 22,109	$ 39,992	$ 52,324	$ 77,094

Bank segment - Balance sheet da

Bank segment - Balance sheet data (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 159,672		$ 305,551	$ 247,443
Investment securities
Available-for-sale investment securities, at fair value	2,444,267		2,574,618
Held-to-maturity, at amortized cost (fair value of $440,023 and $510,474, respectively)	513,767		522,270
Held-to-maturity investment securities	440,023
Stock in Federal Home Loan Bank, at cost	13,200		10,000
Allowance for credit losses	(69,456)	$ (67,211)	(71,130)	(78,252)	$ (91,793)	$ (101,201)
Total loans, net	5,357,539		5,139,984
Loans held for sale, at lower of cost or fair value	3,738		10,404
Other assets	883,594		747,469
Goodwill	82,190		82,190
Total assets	16,001,743		15,822,637
Liabilities and shareholder’s equity
Other	686,982		669,215
Total liabilities	13,733,946		13,397,460
Retained earnings	803,027		757,921
Accumulated other comprehensive loss, net of tax benefits
Accumulated other comprehensive loss, net of tax benefits	(257,532)		(52,533)
Total shareholders’ equity	2,233,504	$ 2,303,642	2,390,884	$ 2,367,329	$ 2,321,293	$ 2,337,502
Total liabilities and shareholders’ equity	16,001,743		15,822,637
Other assets
Premises and equipment, net	5,429,420		5,392,068
Other assets	883,594		747,469
Other liabilities
Other liabilities	686,982		669,215
American Savings Bank (ASB)
Assets
Cash and due from banks	128,971		100,051
Interest-bearing deposits	12,054		151,189
Cash and cash equivalents	141,025		251,240
Investment securities
Available-for-sale investment securities, at fair value	2,444,267		2,574,618
Held-to-maturity, at amortized cost (fair value of $440,023 and $510,474, respectively)	513,767		522,270
Held-to-maturity investment securities	440,023		510,474
Stock in Federal Home Loan Bank, at cost	13,200		10,000
Loans held for investment	5,426,995		5,211,114
Allowance for credit losses	(69,456)		(71,130)
Total loans, net	5,357,539		5,139,984
Loans held for sale, at lower of cost or fair value	3,738		10,404
Other assets	659,139		590,897
Goodwill	82,190		82,190
Total assets	9,214,865		9,181,603
Liabilities and shareholder’s equity
Deposit liabilities—noninterest-bearing	2,993,900		2,976,632
Deposit liabilities—interest-bearing	5,259,636		5,195,580
Other borrowings	241,610		88,305
Other	187,770		193,268
Total liabilities	8,682,916		8,453,785
Common stock	1		1
Additional paid-in capital	354,966		353,895
Retained earnings	426,040		411,704
Accumulated other comprehensive loss, net of tax benefits
Net unrealized losses on securities	(241,301)		(32,037)
Retirement benefit plans	(7,757)		(5,745)
Accumulated other comprehensive loss, net of tax benefits	(249,058)		(37,782)
Total shareholders’ equity	531,949		727,818
Total liabilities and shareholders’ equity	9,214,865		9,181,603
Other assets
Bank-owned life insurance	181,166		177,566
Premises and equipment, net	199,429		202,299
Accrued interest receivable	21,335		20,854
Mortgage-servicing rights	9,696		9,950
Low-income housing investments	104,592		110,989
Real estate acquired in settlement of loans, net	271		0
Real estate held for sale	3,030		0
Deferred tax asset	84,814		7,699
Other	54,806		61,540
Other assets	659,139		590,897
Other liabilities
Accrued expenses	83,915		87,905
Federal and state income taxes payable	0		0
Cashier’s checks	33,747		33,675
Advance payments by borrowers	9,980		9,994
Other	60,128		61,694
Other liabilities	$ 187,770		$ 193,268

Bank segment - Narrative (Detai

Bank segment - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Allowance for credit losses
Securities sold under agreements to repurchase	$ 162		$ 88
American Savings Bank (ASB)
Allowance for credit losses
Advances from the FHLB	80		0
Securities sold under agreements to repurchase	$ 161.6		$ 88.3
Minimum benchmark percentage of loan to appraisal ratio which mortgage insurance is required	80%
Minimum benchmark percentage of loan to appraisal ratio on non-owner occupied residential property	75%
Home equity line of credit
Allowance for credit losses
Conversion of debt	$ 10	$ 9.8
Commercial
Allowance for credit losses
Conversion of debt	1	0.6
Consumer
Allowance for credit losses
Conversion of debt	$ 1.7	$ 1.5

Bank segment - Components of in

Bank segment - Components of investment securities (Details) $ in Thousands	Jun. 30, 2022 USD ($) issue	Dec. 31, 2021 USD ($) issue
Available-for-sale
Available-for-sale investment securities, at fair value	$ 2,444,267	$ 2,574,618
Held-to-maturity
Amortized cost	513,767	522,270
Held-to-maturity investment securities	440,023
American Savings Bank (ASB)
Available-for-sale
Amortized cost	2,773,905	2,618,384
Gross unrealized gains	467	7,969
Gross unrealized losses	(330,105)	(51,735)
Available-for-sale investment securities, at fair value	$ 2,444,267	$ 2,574,618
Gross unrealized losses, less than 12 months, number of issues | issue	202	125
Gross unrealized losses, less than 12 months, fair value	$ 1,553,863	$ 1,902,850
Gross unrealized losses, less than 12 months, amount	$ (166,155)	$ (38,850)
Gross unrealized losses, 12 months or longer, number of issues | issue	66	18
Gross unrealized losses, 12 months or longer, fair value	$ 845,879	$ 271,012
Gross unrealized losses, 12 months or more, amount	(163,950)	(12,885)
Held-to-maturity
Amortized cost	513,767	522,270
Gross unrealized gains	0	1,648
Gross unrealized losses	(73,744)	(13,444)
Held-to-maturity investment securities	$ 440,023	$ 510,474
Less than 12 months, number of issues | issue	27	24
Less than 12 months, fair value	$ 290,803	$ 330,477
Less than 12 months, amount	$ (41,864)	$ (7,835)
12 months or longer, number of issues | issue	13	7
12 months or longer: fair value	$ 149,220	$ 106,483
12 months or longer, amount	(31,880)	(5,609)
U.S. Treasury and federal agency obligations | American Savings Bank (ASB)
Available-for-sale
Amortized cost	107,389	89,714
Gross unrealized gains	0	803
Gross unrealized losses	(4,902)	(427)
Available-for-sale investment securities, at fair value	$ 102,487	$ 90,090
Gross unrealized losses, less than 12 months, number of issues | issue	17	4
Gross unrealized losses, less than 12 months, fair value	$ 102,487	$ 44,827
Gross unrealized losses, less than 12 months, amount	$ (4,902)	$ (427)
Gross unrealized losses, 12 months or longer, number of issues | issue	0	0
Gross unrealized losses, 12 months or longer, fair value	$ 0	$ 0
Gross unrealized losses, 12 months or more, amount	0	0
Held-to-maturity
Amortized cost	59,882	59,871
Gross unrealized gains	0	168
Gross unrealized losses	(5,997)	(170)
Held-to-maturity investment securities	$ 53,885	$ 59,869
Less than 12 months, number of issues | issue	3	2
Less than 12 months, fair value	$ 53,885	$ 39,594
Less than 12 months, amount	$ (5,997)	$ (170)
12 months or longer, number of issues | issue	0	0
12 months or longer: fair value	$ 0	$ 0
12 months or longer, amount	0	0
Mortgage-backed securities | American Savings Bank (ASB)
Available-for-sale
Amortized cost	2,606,904	2,482,618
Gross unrealized gains	467	6,511
Gross unrealized losses	(322,185)	(51,206)
Available-for-sale investment securities, at fair value	$ 2,285,186	$ 2,437,923
Gross unrealized losses, less than 12 months, number of issues | issue	180	120
Gross unrealized losses, less than 12 months, fair value	$ 1,409,947	$ 1,845,243
Gross unrealized losses, less than 12 months, amount	$ (158,235)	$ (38,321)
Gross unrealized losses, 12 months or longer, number of issues | issue	66	18
Gross unrealized losses, 12 months or longer, fair value	$ 845,879	$ 271,012
Gross unrealized losses, 12 months or more, amount	(163,950)	(12,885)
Held-to-maturity
Amortized cost	453,885	462,399
Gross unrealized gains	0	1,480
Gross unrealized losses	(67,747)	(13,274)
Held-to-maturity investment securities	$ 386,138	$ 450,605
Less than 12 months, number of issues | issue	24	22
Less than 12 months, fair value	$ 236,918	$ 290,883
Less than 12 months, amount	$ (35,867)	$ (7,665)
12 months or longer, number of issues | issue	13	7
12 months or longer: fair value	$ 149,220	$ 106,483
12 months or longer, amount	(31,880)	(5,609)
Corporate bonds | American Savings Bank (ASB)
Available-for-sale
Amortized cost	44,447	30,625
Gross unrealized gains	0	655
Gross unrealized losses	(3,018)	(102)
Available-for-sale investment securities, at fair value	$ 41,429	$ 31,178
Gross unrealized losses, less than 12 months, number of issues | issue	5	1
Gross unrealized losses, less than 12 months, fair value	$ 41,429	$ 12,780
Gross unrealized losses, less than 12 months, amount	$ (3,018)	$ (102)
Gross unrealized losses, 12 months or longer, number of issues | issue	0	0
Gross unrealized losses, 12 months or longer, fair value	$ 0	$ 0
Gross unrealized losses, 12 months or more, amount	0	0
Mortgage revenue bonds | American Savings Bank (ASB)
Available-for-sale
Amortized cost	15,165	15,427
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Available-for-sale investment securities, at fair value	$ 15,165	$ 15,427
Gross unrealized losses, less than 12 months, number of issues | issue	0	0
Gross unrealized losses, less than 12 months, fair value	$ 0	$ 0
Gross unrealized losses, less than 12 months, amount	$ 0	$ 0
Gross unrealized losses, 12 months or longer, number of issues | issue	0	0
Gross unrealized losses, 12 months or longer, fair value	$ 0	$ 0
Gross unrealized losses, 12 months or more, amount	$ 0	$ 0

Bank segment - Contractual matu

Bank segment - Contractual maturities of investment securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Available-for-sale
Due in one year or less	$ 15,807		$ 15,807
Due after one year through five years	84,406		84,406
Due after five years through ten years	66,788		66,788
Due after ten years	0		0
Total amortized cost	167,001		167,001
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	2,606,904		2,606,904
Amortized cost	2,773,905		2,773,905
Held-to-maturity
Due in one year or less	0		0
Due after one year through five years	0		0
Due after five years through ten years	59,882		59,882
Due after ten years	0		0
Total amortized cost	59,882		59,882
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	453,885		453,885
Amortized cost	513,767		513,767
Available-for-sale
Due in one year or less	15,781		15,781
Due after one year through five years	81,286		81,286
Due after five years through ten years	62,014		62,014
Due after ten years	0		0
Total fair value	159,081		159,081
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	2,285,186		2,285,186
Total available-for-sale securities	2,444,267		2,444,267		$ 2,574,618
Held-to-maturity
Due in one year or less	0		0
Due after one year through five years	0		0
Due after five years through ten years	53,885		53,885
Due after ten years	0		0
Total fair value	53,885		53,885
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	386,138		386,138
Total held-to-maturity securities	440,023		440,023
Proceeds, gross gains and losses from sales of available-for-sale securities
Proceeds	0	$ 0	0	$ 197,354
Gross gains	0	0	0	975
Gross losses	0	0	0	447
Tax expense on realized gains	$ 0	$ 0	$ 0	$ 142

Bank segment - Loans receivable

Bank segment - Loans receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 5,439,346		$ 5,221,204
Less: Deferred fees and discounts	(12,351)		(10,090)
Allowance for credit losses	(69,456)	$ (67,211)	(71,130)	$ (78,252)	$ (91,793)	$ (101,201)
Total loans, net	5,357,539		5,139,984
Real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,630,231		4,313,934
Real estate | Residential 1-4 family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,310,041		2,299,212
Allowance for credit losses	(8,520)	(7,874)	(6,545)	(5,518)	(5,261)	(4,600)
Real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,261,389		1,056,982
Allowance for credit losses	(20,900)	(20,176)	(24,696)	(28,708)	(34,345)	(35,607)
Real estate | Home equity line of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	923,976		835,663
Allowance for credit losses	(6,096)	(5,650)	(5,657)	(5,335)	(5,901)	(6,813)
Real estate | Residential land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	21,535		19,859
Allowance for credit losses	(677)	(697)	(646)	(618)	(573)	(609)
Real estate | Commercial construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	94,060		91,080
Allowance for credit losses	(2,634)	(2,340)	(2,186)	(1,629)	(1,453)	(4,149)
Real estate | Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	19,230		11,138
Allowance for credit losses	(46)	(31)	(18)	(16)	(16)	(11)
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	660,478		793,304
Allowance for credit losses	(12,413)	(14,314)	(15,798)	(20,058)	(24,504)	(25,462)
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	148,637		113,966
Allowance for credit losses	$ (18,170)	$ (16,129)	$ (15,584)	$ (16,370)	$ (19,740)	$ (23,950)

Bank segment - Allowance for cr

Bank segment - Allowance for credit losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Allowance for credit losses:
Beginning balance	$ 67,211	$ 91,793	$ 71,130	$ 101,201
Charge-offs	(1,517)	(2,260)	(3,075)	(5,941)
Recoveries	1,505	1,676	2,907	2,984
Provision for credit losses	2,257	(12,957)	(1,506)	(19,992)
Ending balance	69,456	78,252	69,456	78,252
Real estate | Residential 1-4 family
Allowance for credit losses:
Beginning balance	7,874	5,261	6,545	4,600
Charge-offs	0	(20)	0	(20)
Recoveries	3	51	11	54
Provision for credit losses	643	226	1,964	884
Ending balance	8,520	5,518	8,520	5,518
Real estate | Commercial real estate
Allowance for credit losses:
Beginning balance	20,176	34,345	24,696	35,607
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for credit losses	724	(5,637)	(3,796)	(6,899)
Ending balance	20,900	28,708	20,900	28,708
Real estate | Home equity line of credit
Allowance for credit losses:
Beginning balance	5,650	5,901	5,657	6,813
Charge-offs	0	10	0	(40)
Recoveries	31	61	42	76
Provision for credit losses	415	(637)	397	(1,514)
Ending balance	6,096	5,335	6,096	5,335
Real estate | Residential land
Allowance for credit losses:
Beginning balance	697	573	646	609
Charge-offs	0	0	0	0
Recoveries	96	11	101	21
Provision for credit losses	(116)	34	(70)	(12)
Ending balance	677	618	677	618
Real estate | Commercial construction
Allowance for credit losses:
Beginning balance	2,340	1,453	2,186	4,149
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for credit losses	294	176	448	(2,520)
Ending balance	2,634	1,629	2,634	1,629
Real estate | Residential construction
Allowance for credit losses:
Beginning balance	31	16	18	11
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for credit losses	15	0	28	5
Ending balance	46	16	46	16
Commercial
Allowance for credit losses:
Beginning balance	14,314	24,504	15,798	25,462
Charge-offs	(148)	(319)	(224)	(1,090)
Recoveries	399	366	752	639
Provision for credit losses	(2,152)	(4,493)	(3,913)	(4,953)
Ending balance	12,413	20,058	12,413	20,058
Consumer
Allowance for credit losses:
Beginning balance	16,129	19,740	15,584	23,950
Charge-offs	(1,369)	(1,931)	(2,851)	(4,791)
Recoveries	976	1,187	2,001	2,194
Provision for credit losses	2,434	(2,626)	3,436	(4,983)
Ending balance	$ 18,170	$ 16,370	$ 18,170	$ 16,370

Bank segment - Allowance for lo

Bank segment - Allowance for loan commitments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Allowance for loan commitments:
Beginning balance	$ 5,400	$ 2,900	$ 4,900	$ 4,300
Provision	500	750	1,000	(650)
Ending balance	5,900	3,650	5,900	3,650
Real estate | Home equity line of credit
Allowance for loan commitments:
Beginning balance	400	400	400	300
Provision	0	0	0	100
Ending balance	400	400	400	400
Real estate | Commercial construction
Allowance for loan commitments:
Beginning balance	3,600	1,300	3,700	3,000
Provision	500	1,100	400	(600)
Ending balance	4,100	2,400	4,100	2,400
Commercial
Allowance for loan commitments:
Beginning balance	1,400	1,200	800	1,000
Provision	0	(350)	600	(150)
Ending balance	$ 1,400	$ 850	$ 1,400	$ 850

Bank segment - Credit risk prof

Bank segment - Credit risk profile - payment activity and assigned grades (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Credit risk profile by internally assigned grade for loans
Current Year	$ 529,281	$ 1,325,112
One Year before Current Year	1,227,458	934,584
Two Years before Current Year	885,052	367,452
Three Years before Current Year	325,970	236,305
Four Years before Current Year	197,738	217,965
Prior	1,193,931	1,119,478
Revolving	1,017,811	958,710
Converted to term loans	62,105	61,598
Total	5,439,346	5,221,204
Real estate
Credit risk profile by internally assigned grade for loans
Total	4,630,231	4,313,934
Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current Year	176,333	791,758
One Year before Current Year	768,123	461,683
Two Years before Current Year	438,483	136,332
Three Years before Current Year	119,720	65,230
Four Years before Current Year	57,731	124,994
Prior	749,651	719,215
Revolving	0	0
Converted to term loans	0	0
Total	2,310,041	2,299,212
Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	882,144	795,668
Converted to term loans	41,832	39,995
Total	923,976	835,663
Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current Year	4,290	10,572
One Year before Current Year	9,861	6,794
Two Years before Current Year	5,410	1,116
Three Years before Current Year	958	532
Four Years before Current Year	527	267
Prior	489	578
Revolving	0	0
Converted to term loans	0	0
Total	21,535	19,859
Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current Year	5,614	7,856
One Year before Current Year	11,071	3,019
Two Years before Current Year	2,297	0
Three Years before Current Year	0	0
Four Years before Current Year	0	263
Prior	248	0
Revolving	0	0
Converted to term loans	0	0
Total	19,230	11,138
Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current Year	229,603	193,394
One Year before Current Year	191,405	279,455
Two Years before Current Year	305,523	106,188
Three Years before Current Year	105,040	89,219
Four Years before Current Year	77,188	56,174
Prior	348,395	320,950
Revolving	4,235	11,602
Converted to term loans	0	0
Total	1,261,389	1,056,982
Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current Year	0	17,140
One Year before Current Year	35,982	43,261
Two Years before Current Year	25,123	0
Three Years before Current Year	0	11,342
Four Years before Current Year	11,341	0
Prior	0	0
Revolving	21,614	19,337
Converted to term loans	0	0
Total	94,060	91,080
Consumer
Credit risk profile by internally assigned grade for loans
Current Year	71,858	37,838
One Year before Current Year	28,947	15,889
Two Years before Current Year	10,422	30,679
Three Years before Current Year	17,271	11,506
Four Years before Current Year	3,665	352
Prior	200	238
Revolving	11,752	13,044
Converted to term loans	4,522	4,420
Total	148,637	113,966
Commercial
Credit risk profile by internally assigned grade for loans
Current Year	41,583	266,554
One Year before Current Year	182,069	124,483
Two Years before Current Year	97,794	93,137
Three Years before Current Year	82,981	58,476
Four Years before Current Year	47,286	35,915
Prior	94,948	78,497
Revolving	98,066	119,059
Converted to term loans	15,751	17,183
Total	660,478	793,304
Pass | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current Year	229,603	173,794
One Year before Current Year	171,805	275,242
Two Years before Current Year	301,360	49,317
Three Years before Current Year	52,361	56,490
Four Years before Current Year	61,179	33,581
Prior	289,835	259,583
Revolving	4,235	11,602
Converted to term loans	0	0
Total	1,110,378	859,609
Pass | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current Year	0	17,140
One Year before Current Year	35,982	43,261
Two Years before Current Year	25,123	0
Three Years before Current Year	0	11,342
Four Years before Current Year	11,341	0
Prior	0	0
Revolving	21,614	19,337
Converted to term loans	0	0
Total	94,060	91,080
Pass | Commercial
Credit risk profile by internally assigned grade for loans
Current Year	41,268	266,087
One Year before Current Year	181,637	96,963
Two Years before Current Year	87,936	79,329
Three Years before Current Year	74,326	56,497
Four Years before Current Year	45,637	31,019
Prior	87,962	66,570
Revolving	78,344	96,673
Converted to term loans	14,590	15,510
Total	611,700	708,648
Special Mention | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current Year	0	19,600
One Year before Current Year	19,600	3,529
Two Years before Current Year	3,488	42,935
Three Years before Current Year	41,235	30,870
Four Years before Current Year	14,174	20,788
Prior	36,958	32,824
Revolving	0	0
Converted to term loans	0	0
Total	115,455	150,546
Special Mention | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Special Mention | Commercial
Credit risk profile by internally assigned grade for loans
Current Year	0	40
One Year before Current Year	23	27,336
Two Years before Current Year	9,702	10,071
Three Years before Current Year	6,533	202
Four Years before Current Year	101	439
Prior	1,011	8,966
Revolving	15,414	15,303
Converted to term loans	14	18
Total	32,798	62,375
Substandard | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	684
Two Years before Current Year	675	13,936
Three Years before Current Year	11,444	1,859
Four Years before Current Year	1,835	1,805
Prior	21,602	28,543
Revolving	0	0
Converted to term loans	0	0
Total	35,556	46,827
Substandard | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Substandard | Commercial
Credit risk profile by internally assigned grade for loans
Current Year	315	427
One Year before Current Year	409	184
Two Years before Current Year	156	3,737
Three Years before Current Year	2,122	1,777
Four Years before Current Year	1,548	4,457
Prior	5,975	2,961
Revolving	4,308	7,083
Converted to term loans	1,147	1,655
Total	15,980	22,281
Doubtful | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Doubtful | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Doubtful | Commercial
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Current | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current Year	176,333	791,758
One Year before Current Year	768,123	461,683
Two Years before Current Year	437,911	133,345
Three Years before Current Year	119,503	64,421
Four Years before Current Year	56,469	124,994
Prior	742,653	712,452
Revolving	0	0
Converted to term loans	0	0
Total	2,300,992	2,288,653
Current | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	881,505	794,518
Converted to term loans	41,295	39,116
Total	922,800	833,634
Current | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current Year	4,290	10,572
One Year before Current Year	9,861	6,794
Two Years before Current Year	5,410	1,116
Three Years before Current Year	753	532
Four Years before Current Year	527	267
Prior	283	181
Revolving	0	0
Converted to term loans	0	0
Total	21,124	19,462
Current | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current Year	5,614	7,856
One Year before Current Year	11,071	3,019
Two Years before Current Year	2,297	0
Three Years before Current Year	0	0
Four Years before Current Year	0	263
Prior	248	0
Revolving	0	0
Converted to term loans	0	0
Total	19,230	11,138
Current | Consumer
Credit risk profile by internally assigned grade for loans
Current Year	71,436	37,563
One Year before Current Year	28,455	15,488
Two Years before Current Year	10,209	29,383
Three Years before Current Year	16,525	10,897
Four Years before Current Year	3,385	302
Prior	198	238
Revolving	11,509	12,740
Converted to term loans	4,235	4,157
Total	145,952	110,768
30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	6,491	5,703
30-59 days past due | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	572	0
Three Years before Current Year	217	809
Four Years before Current Year	453	0
Prior	3,288	2,210
Revolving	0	0
Converted to term loans	0	0
Total	4,530	3,019
30-59 days past due | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	110	296
Converted to term loans	101	313
Total	211	609
30-59 days past due | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
30-59 days past due | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
30-59 days past due | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Total	472	0
30-59 days past due | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Total	0	0
30-59 days past due | Consumer
Credit risk profile by internally assigned grade for loans
Current Year	268	202
One Year before Current Year	224	181
Two Years before Current Year	68	517
Three Years before Current Year	330	234
Four Years before Current Year	82	15
Prior	2	0
Revolving	107	156
Converted to term loans	110	70
Total	1,191	1,375
30-59 days past due | Commercial
Credit risk profile by internally assigned grade for loans
Total	87	700
60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	2,313	2,749
60-89 days past due | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	637	1,468
Revolving	0	0
Converted to term loans	0	0
Total	637	1,468
60-89 days past due | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	106	16
Converted to term loans	83	70
Total	189	86
60-89 days past due | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	109	0
Revolving	0	0
Converted to term loans	0	0
Total	109	0
60-89 days past due | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
60-89 days past due | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Total	0	0
60-89 days past due | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Total	0	0
60-89 days past due | Consumer
Credit risk profile by internally assigned grade for loans
Current Year	74	59
One Year before Current Year	109	127
Two Years before Current Year	78	392
Three Years before Current Year	161	183
Four Years before Current Year	91	8
Prior	0	0
Revolving	45	7
Converted to term loans	57	106
Total	615	882
60-89 days past due | Commercial
Credit risk profile by internally assigned grade for loans
Total	763	313
Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Total	5,848	8,792
Greater than 89 days past due | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	2,987
Three Years before Current Year	0	0
Four Years before Current Year	809	0
Prior	3,073	3,085
Revolving	0	0
Converted to term loans	0	0
Total	3,882	6,072
Greater than 89 days past due | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	423	838
Converted to term loans	353	496
Total	776	1,334
Greater than 89 days past due | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	205	0
Four Years before Current Year	0	0
Prior	97	397
Revolving	0	0
Converted to term loans	0	0
Total	302	397
Greater than 89 days past due | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Greater than 89 days past due | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Total	0	0
Greater than 89 days past due | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Total	0	0
Greater than 89 days past due | Consumer
Credit risk profile by internally assigned grade for loans
Current Year	80	14
One Year before Current Year	159	93
Two Years before Current Year	67	387
Three Years before Current Year	255	192
Four Years before Current Year	107	27
Prior	0	0
Revolving	91	141
Converted to term loans	120	87
Total	879	941
Greater than 89 days past due | Commercial
Credit risk profile by internally assigned grade for loans
Total	$ 9	$ 48

Bank segment - Credit risk pr_2

Bank segment - Credit risk profile - payment activity (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Credit risk profile based on payment activity for loans
Total financing receivables	$ 5,439,346	$ 5,221,204
Amortized cost> 90 days and accruing	0	0
Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	4,630,231	4,313,934
Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,310,041	2,299,212
Amortized cost> 90 days and accruing	0	0
Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,261,389	1,056,982
Amortized cost> 90 days and accruing	0	0
Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	923,976	835,663
Amortized cost> 90 days and accruing	0	0
Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	21,535	19,859
Amortized cost> 90 days and accruing	0	0
Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	94,060	91,080
Amortized cost> 90 days and accruing	0	0
Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	19,230	11,138
Amortized cost> 90 days and accruing	0	0
Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	660,478	793,304
Amortized cost> 90 days and accruing	0	0
Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	148,637	113,966
Amortized cost> 90 days and accruing	0	0
30-59 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	6,491	5,703
30-59 days past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	4,530	3,019
30-59 days past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	472	0
30-59 days past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	211	609
30-59 days past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	87	700
30-59 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	1,191	1,375
60-89 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	2,313	2,749
60-89 days past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	637	1,468
60-89 days past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	189	86
60-89 days past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	109	0
60-89 days past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	763	313
60-89 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	615	882
Greater than 90 days
Credit risk profile based on payment activity for loans
Total financing receivables	5,848	8,792
Greater than 90 days | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	3,882	6,072
Greater than 90 days | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	776	1,334
Greater than 90 days | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	302	397
Greater than 90 days | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	9	48
Greater than 90 days | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	879	941
Total past due
Credit risk profile based on payment activity for loans
Total financing receivables	14,652	17,244
Total past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	9,049	10,559
Total past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	472	0
Total past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	1,176	2,029
Total past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	411	397
Total past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	859	1,061
Total past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	2,685	3,198
Current
Credit risk profile based on payment activity for loans
Total financing receivables	5,424,694	5,203,960
Current | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,300,992	2,288,653
Current | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,260,917	1,056,982
Current | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	922,800	833,634
Current | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	21,124	19,462
Current | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	94,060	91,080
Current | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	19,230	11,138
Current | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	659,619	792,243
Current | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	$ 145,952	$ 110,768

Bank segment - Credit risk pr_3

Bank segment - Credit risk profile - nonaccrual loans (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Credit risk profile based on nonaccrual loans
With a Related ACL	$ 16,587	$ 37,764
Without a Related ACL	5,292	7,210
Total	21,879	44,974
Total troubled debt restructuring loans not included above	30,573	24,917
Real estate | Residential 1-4 family
Credit risk profile based on nonaccrual loans
With a Related ACL	11,487	16,045
Without a Related ACL	3,571	3,703
Total	15,058	19,748
Total troubled debt restructuring loans not included above	7,690	6,949
Real estate | Commercial real estate
Credit risk profile based on nonaccrual loans
With a Related ACL	0	14,104
Without a Related ACL	0	1,221
Total	0	15,325
Total troubled debt restructuring loans not included above	10,031	3,055
Real estate | Home equity line of credit
Credit risk profile based on nonaccrual loans
With a Related ACL	3,225	4,227
Without a Related ACL	725	1,294
Total	3,950	5,521
Total troubled debt restructuring loans not included above	5,037	6,021
Real estate | Residential land
Credit risk profile based on nonaccrual loans
With a Related ACL	205	97
Without a Related ACL	97	300
Total	302	397
Total troubled debt restructuring loans not included above	920	980
Real estate | Commercial construction
Credit risk profile based on nonaccrual loans
With a Related ACL	0	0
Without a Related ACL	0	0
Total	0	0
Total troubled debt restructuring loans not included above	0	0
Real estate | Residential construction
Credit risk profile based on nonaccrual loans
With a Related ACL	0	0
Without a Related ACL	0	0
Total	0	0
Total troubled debt restructuring loans not included above	0	0
Commercial
Credit risk profile based on nonaccrual loans
With a Related ACL	240	1,446
Without a Related ACL	899	692
Total	1,139	2,138
Total troubled debt restructuring loans not included above	6,844	7,860
Consumer
Credit risk profile based on nonaccrual loans
With a Related ACL	1,430	1,845
Without a Related ACL	0	0
Total	1,430	1,845
Total troubled debt restructuring loans not included above	$ 51	$ 52

Bank segment - Loan modificatio

Bank segment - Loan modifications (Details) - Troubled debt restructurings real estate loans $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) contract	Jun. 30, 2021 USD ($) contract	Jun. 30, 2022 USD ($) contract	Jun. 30, 2021 USD ($) contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	1	8	1	24
Outstanding recorded investment	$ 381	$ 2,360	$ 381	$ 11,041
Related allowance	$ 135	$ 100	$ 135	$ 338
Real estate | Residential 1-4 family
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	1	3	1	15
Outstanding recorded investment	$ 381	$ 1,835	$ 381	$ 10,024
Related allowance	$ 135	$ 77	$ 135	$ 271
Real estate | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0	$ 0
Real estate | Home equity line of credit
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	0	0	1
Outstanding recorded investment	$ 0	$ 0	$ 0	$ 163
Related allowance	$ 0	$ 0	$ 0	$ 18
Real estate | Residential land
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	1	0	2
Outstanding recorded investment	$ 0	$ 288	$ 0	$ 558
Related allowance	$ 0	$ 12	$ 0	$ 23
Real estate | Commercial construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0	$ 0
Real estate | Residential construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0	$ 0
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	4	0	6
Outstanding recorded investment	$ 0	$ 237	$ 0	$ 296
Related allowance	$ 0	$ 11	$ 0	$ 26
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0	$ 0

Bank segment - Troubled debt re

Bank segment - Troubled debt restructuring - narrative (Details) - Troubled debt restructurings real estate loans - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Financing Receivable, Impaired [Line Items]
Financing receivable modifications minimum, period of payment default of loans determined to be TDRs (in days)	90 days	90 days	90 days	90 days
Commitments to lend additional funds to borrows with impaired or modified loans	$ 0		$ 0		$ 0
Consumer mortgage loans collateralized by residential real estate property in foreclosure process	$ 3,200,000		$ 3,200,000		$ 3,400,000

Bank segment - Collateral-depen

Bank segment - Collateral-dependent loans (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Residential real estate property | Real estate | Residential 1-4 family
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	$ 4,070	$ 3,493
Residential real estate property | Real estate | Home equity line of credit
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	706	1,294
Residential real estate property | Real estate | Residential land
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	97	300
Commercial real estate | Real estate | Commercial real estate
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	0	1,221
Collateral pledged
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	5,078	7,000
Collateral pledged | Real estate
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	4,873	6,308
Business assets | Commercial
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	$ 205	$ 692

Bank segment - Mortgage servici

Bank segment - Mortgage servicing rights (Details) - American Savings Bank (ASB) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Servicing Asset at Amortized Cost [Line Items]
Mortgage service fees	$ 900	$ 1,000	$ 1,800	$ 1,900
Mortgage servicing rights
Servicing asset - beginning balance			9,950
Servicing asset - ending balance	9,696		9,696
Residential loan
Servicing Asset at Amortized Cost [Line Items]
Proceeds from sale of residential loans	38,700	95,600	114,300	266,500
Gain on sale of mortgage loans	300	1,900	1,400	6,200
Servicing contracts
Changes in Carrying Value of MSRs
Gross carrying amount	19,341		19,341		$ 18,674
Accumulated amortization	(9,645)		(9,645)		(8,724)
Valuation allowance	0	0	0	0	0
Net carrying amount	9,696	10,754	9,696	10,754	9,950
Mortgage servicing rights
Servicing asset - beginning balance	10,024	10,689	9,950	10,280
Amount capitalized	204	1,023	923	2,570
Amortization	(532)	(958)	(1,177)	(2,096)
Other-than-temporary impairment	0	0	0	0
Servicing asset - ending balance	9,696	10,754	9,696	10,754
Valuation allowance for mortgage servicing rights
Valuation allowance, beginning balance	0	4	0	260
Provision	0	(4)	0	(260)
Other-than-temporary impairment	0	0	0	0
Valuation allowance, ending balance	0	$ 0	0	$ 0
Unpaid principal balance	1,483,877		1,483,877		1,481,899
Prepayment rate:
25 basis points adverse rate change	(111)		(111)		(714)
50 basis points adverse rate change	(244)		(244)		(1,608)
Discount rate:
25 basis points adverse rate change	(176)		(176)		(129)
50 basis points adverse rate change	$ (350)		$ (350)		$ (256)
Servicing contracts | Weighted average note rate
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0334		0.0334		0.0338
Servicing contracts | Weighted average discount rate
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0925		0.0925		0.0925
Servicing contracts | Weighted average prepayment speed
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0655		0.0655		0.0977

Bank segment - Other borrowings

Bank segment - Other borrowings (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Offsetting Liabilities [Line Items]
Gross amount  of recognized  liabilities	$ 162	$ 88
Gross amount  offset in the  Balance Sheets	0	0
Net amount of liabilities presented in the Balance Sheets	162	88
Commercial account holders
Offsetting Liabilities [Line Items]
Net amount of liabilities presented in the Balance Sheets	162	88
Financial instruments	181	161
Cash collateral pledged	$ 0	$ 0

Bank segment - Derivatives (Det

Bank segment - Derivatives (Details) - Derivative Financial Instruments Not Designated as Hedging Instruments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Derivative instrument
Asset derivatives	$ 71		$ 71		$ 638
Liability derivatives	0		0		11
Net gains (losses) recognized in the Statement of Income	(79)	$ (448)	(556)	$ (3,706)
Interest rate lock commitments
Derivative instrument
Notional amount	4,939		4,939		39,377
Fair value	44		44		638
Asset derivatives	44		44		638
Liability derivatives	0		0		0
Net gains (losses) recognized in the Statement of Income	62	(67)	(593)	(4,165)
Forward commitments
Derivative instrument
Notional amount	4,750		4,750		38,000
Fair value	27		27		(11)
Asset derivatives	27		27		0
Liability derivatives	0		0		$ 11
Net gains (losses) recognized in the Statement of Income	$ (141)	$ (381)	$ 37	$ 459

Bank segment - Contingencies (D

Bank segment - Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
American Savings Bank (ASB)
Loss Contingencies [Line Items]
Unfunded commitments to fund the company's LIHTC	$ 62.8	$ 62.8

Credit agreement and changes _3

Credit agreement and changes in debt - Narrative (Details) - Hawaiian Electric Company, Inc. and Subsidiaries	Feb. 18, 2022 USD ($) extensionOption	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	May 14, 2021 USD ($) institution
Credit Facilities
Credit agreement
Number of financial institutions | institution				9
Credit agreement		$ 0	$ 0
HEI Facility
Credit agreement
Credit agreement				$ 175,000,000
Hawaiian Electric Facility
Credit agreement
Credit agreement	$ 275,000,000			$ 200,000,000
Number of extension options | extensionOption	2
Extension period	1 year

Credit agreement and changes _4

Credit agreement and changes in debt - Note purchase agreements (Details) - Senior Notes - Series 2022A	May 11, 2022 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount	$ 60,000,000
Fixed coupon interest rate	3.70%
Hawaiian Electric
Debt Instrument [Line Items]
Aggregate principal amount	$ 40,000,000
Hawaii Electric Light
Debt Instrument [Line Items]
Aggregate principal amount	10,000,000
Maui Electric
Debt Instrument [Line Items]
Aggregate principal amount	$ 10,000,000

Shareholders' equity - Accumula

Shareholders' equity - Accumulated other comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,303,642	$ 2,390,884	$ 2,321,293	$ 2,337,502	$ 2,390,884	$ 2,337,502
Current period other comprehensive income (loss)	(87,840)	(117,159)	16,472	(44,016)	(204,999)	(27,544)
Ending balance	2,233,504	2,303,642	2,367,329	2,321,293	2,233,504	2,367,329
AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(169,692)	(52,533)	(45,280)	(1,264)	(52,533)	(1,264)
Current period other comprehensive income (loss)	(87,840)	(117,159)	16,472	(44,016)
Ending balance	(257,532)	(169,692)	(28,808)	(45,280)	(257,532)	(28,808)
Net unrealized gains (losses) on securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(32,037)		19,986	(32,037)	19,986
Current period other comprehensive income (loss)					(209,264)	(28,801)
Ending balance	(241,301)		(8,815)		(241,301)	(8,815)
Unrealized gains (losses) on derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(3,638)		(3,363)	(3,638)	(3,363)
Current period other comprehensive income (loss)					3,911	861
Ending balance	273		(2,502)		273	(2,502)
Retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(16,858)		(17,887)	(16,858)	(17,887)
Current period other comprehensive income (loss)					354	396
Ending balance	(16,504)		(17,491)		(16,504)	(17,491)
Hawaiian Electric Company, Inc. and Subsidiaries
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,276,884	2,261,899	2,157,385	2,141,918	2,261,899	2,141,918
Current period other comprehensive income (loss)	51	51	35	34	102	69
Ending balance	2,289,595	2,276,884	2,171,396	2,157,385	2,289,595	2,171,396
Hawaiian Electric Company, Inc. and Subsidiaries | AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,229)	(3,280)	(2,885)	(2,919)	(3,280)	(2,919)
Current period other comprehensive income (loss)	51	51	35	34
Ending balance	(3,178)	(3,229)	(2,850)	(2,885)	(3,178)	(2,850)
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		$ (3,280)		$ (2,919)	(3,280)	(2,919)
Current period other comprehensive income (loss)					102	69
Ending balance	$ (3,178)		$ (2,850)		$ (3,178)	$ (2,850)

Shareholders' equity - Reclassi

Shareholders' equity - Reclassification out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Reclassifications out of accumulated other comprehensive income/(loss)
Gain on sale of investment securities, net	$ 0	$ 0	$ (8,123)	$ (528)
Interest expense	24,965	23,317	49,314	47,053
Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	231	197	462	9
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(44,634)	(42,400)	(91,542)	(86,257)
Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	51	35	102	69
Net realized gains on securities included in net income | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Gain on sale of investment securities, net	0	0	0	(387)
Net realized losses on derivatives qualifying as cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Interest expense	53	0	108	0
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	122	6,008	4,623	12,018
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost | Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(5)	5,846	4,371	11,691
Impact of D&Os of the PUC included in regulatory assets | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	56	(5,811)	(4,269)	(11,622)
Impact of D&Os of the PUC included in regulatory assets | Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	$ 56	$ (5,811)	$ (4,269)	$ (11,622)

Interest rate swaps - Interest

Interest rate swaps - Interest rate derivatives (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Interest Rate Swap Matured On 11/21/2027
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 50
Fixed interest rate	2.75%
Asset (liability)	$ (0.1)	$ 0
Interest Rate Swap Matured On 11/21/2029
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 50
Fixed interest rate	2.78%
Asset (liability)	$ (0.1)	0
Interest Rate Swap Matured On 09/01/2035
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	24
Asset (liability)	$ (0.6)	(5.3)
Interest Rate Swap Matured On 09/01/2035 | Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fixed interest rate	4.88%
Interest Rate Swap Matured On 09/01/2035 | Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fixed interest rate	5.05%
Interest Rate Swap Matured On 10/01/2031
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 13
Fixed interest rate	2.79%
Asset (liability)	$ 1	$ 0.3

Interest rate swaps - Derivativ

Interest rate swaps - Derivative instruments, effect on other comprehensive income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) on interest rate swaps designated as cash flow hedges recognized in other comprehensive income	$ 1.1	$ (0.9)	$ 5.1	$ 1.2

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 835,984	$ 604,827	$ 1,536,815	$ 1,146,127
Total revenues from other sources	59,623	75,430	143,860	177,076
Revenues	895,607	680,257	1,680,675	1,323,203
Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,797	11,569	24,793	22,947
Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	824,187	593,258	1,512,022	1,123,180
Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	259,433	196,318	484,007	377,557
Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	264,701	192,103	484,298	360,568
Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	293,847	201,536	534,970	378,351
Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,873	2,212	6,299	4,691
Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,797	11,569	24,793	22,947
Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,333	1,089	2,448	2,013
Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	(11,428)	2,854	1,458	31,283
Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	62,822	62,066	122,811	120,686
Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	705	3,625	2,835	10,758
Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	7,524	6,885	16,756	14,349
Electric utility
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	822,854	592,169	1,509,574	1,121,167
Total revenues from other sources	(3,981)	9,710	18,091	45,576
Revenues	818,873	601,879	1,527,665	1,166,743
Electric utility | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	822,854	592,169	1,509,574	1,121,167
Electric utility | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	259,433	196,318	484,007	377,557
Electric utility | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	264,701	192,103	484,298	360,568
Electric utility | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	293,847	201,536	534,970	378,351
Electric utility | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,873	2,212	6,299	4,691
Electric utility | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	(11,428)	2,854	1,458	31,283
Electric utility | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Electric utility | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Electric utility | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	7,447	6,856	16,633	14,293
Bank
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,797	11,569	24,793	22,947
Total revenues from other sources	63,527	65,691	125,646	131,444
Revenues	75,324	77,260	150,439	154,391
Bank | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,797	11,569	24,793	22,947
Bank | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,797	11,569	24,793	22,947
Bank | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Bank | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	62,822	62,066	122,811	120,686
Bank | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	705	3,625	2,835	10,758
Bank | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,333	1,089	2,448	2,013
Total revenues from other sources	77	29	123	56
Revenues	1,410	1,118	2,571	2,069
Other | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,333	1,089	2,448	2,013
Other | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,333	1,089	2,448	2,013
Other | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	$ 77	$ 29	$ 123	$ 56

Retirement benefits (Details)

Retirement benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Defined Benefit Plan
Contributions made to defined benefit plans			$ 21,000	$ 23,000
Contributions expected to be paid in current year	$ 41,000		41,000		$ 52,000
Expected payments for remainder of fiscal year	3,000		3,000		1,000
Retirement benefits expense			$ 24,000	23,000
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			$ 4,100	3,200
Cash contributions by the employer to defined contribution plan			$ 3,500	3,200
Employer contribution, percent of employee annual compensation			10%
Pension benefits
Defined Benefit Plan
Service cost	19,823	$ 20,465	$ 39,647	40,929
Interest cost	19,810	18,800	39,621	37,601
Expected return on plan assets	(35,331)	(33,068)	(70,664)	(66,135)
Amortization of net prior period gain	0	0	0	0
Amortization of net actuarial (gain) losses	6,297	8,431	12,594	9,987
Net periodic pension/benefit cost (return)	10,599	14,628	21,198	22,382
Impact of PUC D&Os	9,552	5,513	19,103	16,680
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	20,151	20,141	40,301	39,062
Other benefits
Defined Benefit Plan
Service cost	657	705	1,313	1,410
Interest cost	1,638	1,569	3,275	3,138
Expected return on plan assets	(3,398)	(3,232)	(6,795)	(6,465)
Amortization of net prior period gain	(232)	(384)	(464)	(767)
Amortization of net actuarial (gain) losses	(3)	44	(6)	298
Net periodic pension/benefit cost (return)	(1,338)	(1,298)	(2,677)	(2,386)
Impact of PUC D&Os	1,217	1,176	2,436	2,146
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	(121)	(122)	(241)	(240)
Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan
Contributions made to defined benefit plans			20,000	23,000
Contributions expected to be paid in current year	41,000		41,000		51,000
Expected payments for remainder of fiscal year	1,000		1,000		$ 1,000
Retirement benefits expense			23,000	23,000
Defined contribution plan, expenses recognized			1,800	1,500
Cash contributions by the employer to defined contribution plan			1,800	1,500
Hawaiian Electric Company, Inc. and Subsidiaries | Pension benefits
Defined Benefit Plan
Service cost	19,317	19,993	38,635	39,987
Interest cost	18,461	17,531	36,923	35,062
Expected return on plan assets	(33,545)	(31,367)	(67,091)	(62,735)
Amortization of net prior period gain	0	0	0	0
Amortization of net actuarial (gain) losses	6,125	8,212	12,250	10,771
Net periodic pension/benefit cost (return)	10,358	14,369	20,717	23,085
Impact of PUC D&Os	9,552	5,513	19,103	16,680
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	19,910	19,882	39,820	39,765
Hawaiian Electric Company, Inc. and Subsidiaries | Other benefits
Defined Benefit Plan
Service cost	649	698	1,298	1,397
Interest cost	1,572	1,504	3,145	3,008
Expected return on plan assets	(3,345)	(3,182)	(6,692)	(6,364)
Amortization of net prior period gain	(231)	(382)	(462)	(765)
Amortization of net actuarial (gain) losses	0	43	0	293
Net periodic pension/benefit cost (return)	(1,355)	(1,319)	(2,711)	(2,431)
Impact of PUC D&Os	1,217	1,176	2,436	2,146
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	$ (138)	$ (143)	$ (275)	$ (285)

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Mar. 01, 2014	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based compensation
Income tax benefit from compensation expense		$ 0.8	$ 0.5	$ 1.1	$ 1
Restricted stock units
Share-based compensation
Fair value of vested stock				4	3
Income tax benefit from compensation expense				0.6	0.6
Unrecognized share based compensation		6.2		$ 6.2
Weighted average period for recognition of unrecognized compensation cost (in years)				2 years 1 month 6 days
Long-term Incentive Plan
Share-based compensation
Payment award, low end of range				0%
Payment award, high end of range				200%
Measurement period for total return to shareholders (in years)				3 years
Award performance period (in years)				3 years
LTIP linked to TRS
Share-based compensation
Fair value of vested stock				$ 0.8	0.8
Income tax benefit from compensation expense				0.1	0.2
Unrecognized share based compensation		1.7		$ 1.7
Weighted average period for recognition of unrecognized compensation cost (in years)				1 year 7 months 6 days
LTIP awards linked to other performance conditions
Share-based compensation
Fair value of vested stock				$ 3.2	1.7
Income tax benefit from compensation expense				0.4	$ 0.4
Unrecognized share based compensation		$ 5.2		$ 5.2
Weighted average period for recognition of unrecognized compensation cost (in years)				1 year 7 months 6 days
Equity and Incentive Plan
Share-based compensation
Number of additional shares authorized (in shares)	1,500,000
Shares available for future issuance (in shares)		2,800,000		2,800,000
Number of share issuable upon vesting and achievement of performance goals (in shares)		600,000		600,000
Nonemployee Director Stock Plan
Share-based compensation
Shares available for future grant (in shares)		209,592		209,592

Share-based compensation - Summ

Share-based compensation - Summary of income taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based compensation
Share-based compensation expense	$ 3.5	$ 2.9	$ 5.6	$ 5.5
Income tax benefit	0.8	0.5	1.1	1
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based compensation
Share-based compensation expense	1	0.9	1.6	2
Income tax benefit	$ 0.3	$ 0.2	$ 0.4	$ 0.4

Share-based compensation - 2011

Share-based compensation - 2011 Director Plan (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based compensation
Income tax benefit	$ 0.8	$ 0.5	$ 1.1	$ 1
Common stock
Share-based compensation
Shares granted (in shares)	34,755	29,320	34,755	29,320
Fair value	$ 1.4	$ 1.2	$ 1.4	$ 1.2
Income tax benefit	$ 0.4	$ 0.3	$ 0.4	$ 0.3

Share-based compensation - Su_2

Share-based compensation - Summary of changes in share based compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restricted stock units
Shares
Outstanding, beginning of period (in shares)	208,345	236,191	233,448	193,939
Granted (in shares)	2,008	4,894	98,463	132,492
Vested (in shares)	(1,034)	(292)	(91,414)	(79,280)
Forfeited (in shares)	(366)	(11,018)	(31,544)	(17,376)
Outstanding, end of period (in shares)	208,953	229,775	208,953	229,775
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0.1	$ 0.2	$ 4.1	$ 4.6
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 39.71	$ 37.91	$ 38.10	$ 40.89
Granted (in dollars per share)	42.15	44.61	41.31	34.37
Vested (in dollars per share)	44.31	38.77	37.65	38.51
Forfeited (in dollars per share)	38.07	38.74	38.77	40.01
Outstanding, end of period (in dollars per share)	$ 39.71	$ 38.02	$ 39.71	$ 38.02
LTIP linked to TRS
Shares
Outstanding, beginning of period (in shares)	76,340	100,053	90,974	89,222
Granted (in shares)	390	1,533	26,469	45,743
Vested (in shares)	0	0	(29,042)	(32,355)
Forfeited (in shares)	0	(10,427)	(11,671)	(11,451)
Outstanding, end of period (in shares)	76,730	91,159	76,730	91,159
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0	$ 0.1	$ 1.5	$ 1.9
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 47.70	$ 42.89	$ 42.86	$ 42.10
Granted (in dollars per share)	54.92	41.12	54.92	41.12
Vested (in dollars per share)	0	0	41.07	38.20
Forfeited (in dollars per share)	0	42.82	42.60	43.10
Outstanding, end of period (in dollars per share)	$ 47.74	$ 42.87	$ 47.74	$ 42.87
LTIP awards linked to other performance conditions
Shares
Outstanding, beginning of period (in shares)	292,151	335,702	306,342	220,715
Granted (in shares)	1,560	6,133	105,860	182,977
Vested (in shares)	0	0	(71,807)	(43,155)
Increase above target (cancelled) (in shares)	0	15,881	0	1,277
Forfeited (in shares)	0	(41,711)	(46,684)	(45,809)
Outstanding, end of period (in shares)	293,711	316,005	293,711	316,005
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0.1	$ 0.3	$ 4.4	$ 6.3
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 39.89	$ 38.04	$ 38.42	$ 41.03
Granted (in dollars per share)	42.37	44.49	41.31	34.33
Vested (in dollars per share)	0	0	37.68	34.12
Increase above target (in dollars per share)	0	42.92	0	31.71
Forfeited (in dollars per share)	0	38.27	36.77	38.82
Outstanding, end of period (in dollars per share)	$ 39.91	$ 38.38	$ 39.91	$ 38.38

Share-based compensation - Fair

Share-based compensation - Fair value assumptions (Details) - LTIP linked to TRS - $ / shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free interest rate	1.71%	0.19%
Expected life in years	3 years	3 years
Expected volatility	31%	29.90%
Range of expected volatility for Peer Group, minimum rate	25.40%	25.60%
Range of expected volatility for Peer Group, maximum rate	76.70%	102.90%
Grant date fair value (in dollars per share)	$ 54.92	$ 41.12

Income tax (Details)

Income tax (Details)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Contingency [Line Items]
Effective income tax, percent	20%	21%
Hawaiian Electric Company, Inc. and Subsidiaries
Income Tax Contingency [Line Items]
Effective income tax, percent	21%	21%

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	$ 47	$ 51
Income taxes paid (including refundable credits)	14	14
Income taxes refunded (including refundable credits)	2	0
Supplemental disclosures of noncash activities
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	25	31
Increase related to an acquisition (investing)	15	0
Right-of-use assets obtained in exchange for operating lease obligations (investing)	40	38
Common stock issued (gross) for director and executive/management compensation (financing)	9	7
Obligations to fund low income housing investments (investing)	0	9
Loans transferred from held for investment to held for sale (investing)	0	62
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	34	37
Income taxes paid (including refundable credits)	27	20
Supplemental disclosures of noncash activities
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	22	27
Increase related to an acquisition (investing)	15	0
Right-of-use assets obtained in exchange for operating lease obligations (investing)	$ 37	$ 38

Fair value measurements - Summa

Fair value measurements - Summary of financial assets and liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financial assets
Available-for-sale investment securities	$ 2,444,267	$ 2,574,618
Held-to-maturity investment securities	440,023
Financial liabilities
Short-term borrowings—other than bank	124,017	53,998
Other bank borrowings	241,610	88,305
Carrying or notional amount
Financial assets
Available-for-sale investment securities	2,444,267	2,574,618
Held-to-maturity investment securities	513,767	522,270
Loans, net	5,361,277	5,150,388
Mortgage-servicing rights	9,696	9,950
Derivative assets	22,689	57,377
Financial liabilities
Deposit liabilities	407,972	423,976
Short-term borrowings—other than bank	124,017	53,998
Other bank borrowings	241,610	88,305
Long-term debt, net	2,374,500	2,321,937
Derivative liabilities	124,000	57,000
Carrying or notional amount | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,736,508	1,676,402
Short-term borrowings	54,987
Estimated fair value
Financial assets
Available-for-sale investment securities	2,444,267	2,574,618
Held-to-maturity investment securities	440,023	510,474
Loans, net	5,099,980	5,228,524
Mortgage-servicing rights	17,201	14,480
Derivative assets	1,101	909
Financial liabilities
Deposit liabilities	397,909	442,361
Short-term borrowings—other than bank	124,017	53,998
Other bank borrowings	241,606	88,304
Long-term debt, net	2,222,491	2,624,130
Derivative liabilities	810	5,282
Estimated fair value | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,622,996	1,955,710
Short-term borrowings	54,987
Estimated fair value | Quoted prices in active markets for identical assets (Level 1)
Financial assets
Available-for-sale investment securities	0	0
Held-to-maturity investment securities	0	0
Loans, net	0	0
Mortgage-servicing rights	0	0
Derivative assets	27	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	11
Estimated fair value | Quoted prices in active markets for identical assets (Level 1) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	0	0
Short-term borrowings	0
Estimated fair value | Significant  other observable  inputs (Level 2)
Financial assets
Available-for-sale investment securities	2,429,102	2,559,191
Held-to-maturity investment securities	440,023	510,474
Loans, net	3,737	10,403
Mortgage-servicing rights	0	0
Derivative assets	1,074	909
Financial liabilities
Deposit liabilities	397,909	442,361
Short-term borrowings—other than bank	124,017	53,998
Other bank borrowings	241,606	88,304
Long-term debt, net	2,222,491	2,624,130
Derivative liabilities	810	5,271
Estimated fair value | Significant  other observable  inputs (Level 2) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,622,996	1,955,710
Short-term borrowings	54,987
Estimated fair value | Significant unobservable inputs (Level 3)
Financial assets
Available-for-sale investment securities	15,165	15,427
Held-to-maturity investment securities	0	0
Loans, net	5,096,243	5,218,121
Mortgage-servicing rights	17,201	14,480
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 | Significant unobservable inputs (Level 3) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	0	$ 0
Short-term borrowings	$ 0

Fair value measurements - Asset

Fair value measurements - Assets and liabilities measured on a recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair value measurements on a recurring basis
Available-for-sale investment securities	$ 2,444,267	$ 2,574,618
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1)
Derivative liabilities
Derivative liabilities	0	11
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Derivative assets
Derivative assets	27	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank | Forward commitments
Derivative assets
Derivative assets	27	0
Derivative liabilities
Derivative liabilities	0	11
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other | Interest rate swap
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2)
Derivative liabilities
Derivative liabilities	810	5,271
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	2,429,102	2,559,191
Derivative assets
Derivative assets	1,074	909
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	44	638
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Other | Interest rate swap
Derivative assets
Derivative assets	1,030	271
Derivative liabilities
Derivative liabilities	810	5,271
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	2,285,186	2,437,923
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	102,487	90,090
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	41,429	31,178
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3)
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	15,165	15,427
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Other | Interest rate swap
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	$ 15,165	$ 15,427

Fair value measurements - Chang

Fair value measurements - Changes in level 3 assets and liabilities (Details) - Mortgage revenue bonds - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 15,296	$ 15,427	$ 15,427	$ 27,185
Principal payments received	(131)	0	(262)	(11,758)
Purchases	0	0	0	0
Unrealized gain (loss) included in other comprehensive income	0	0	0	0
Ending balance	$ 15,165	$ 15,427	$ 15,165	$ 15,427

Fair value measurements - Narra

Fair value measurements - Narrative (Details)	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Fair value measurements on a nonrecurring basis | American Savings Bank (ASB)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Adjustments to fair value of loans held for sale	$ 0	$ 0
Weighted average discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage revenue bonds, measurement input	0.0289

Subsequent event (Details)

Subsequent event (Details) - Subsequent Event - Mahipapa - Green Energy Team, LLC $ in Millions	Jul. 01, 2022 USD ($) a MW
Subsequent Event [Line Items]
Unit of renewable energy (in mega watts) | MW	7.5
Area of simple land (in acre) | a	65
Area of land leases (in acre) | a	3,500
Aggregate principal amount, issued | $	$ 61
Periodic principal and interest payments | $	$ 1.2
Converge ratio	1
Earned ratio	1.05