Hawaiian Electric Company, Inc. PFD SER E 5% (HAWEL) 10-K 27 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 15, 2023	Jun. 30, 2022
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	Hawaiian Electric Industries, Inc.
Entity File Number	1-8503
Entity Tax Identification Number	99-0208097
Entity Incorporation, State or Country Code	HI
Entity Address, Address Line One	1001 Bishop Street
Entity Address, Address Line Two	Suite 2900
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-5662
Title of 12(b) Security	Common Stock, Without Par Value
Trading Symbol	HE
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 4,477,193,306
Entity Common Stock, Shares Outstanding		109,472,304
Documents Incorporated by Reference	Hawaiian Electric’s Exhibit 99.1, consisting of: Hawaiian Electric’s Directors, Executive Officers and Corporate Governance—Part III Hawaiian Electric’s Executive Compensation—Part III Hawaiian Electric’s Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters— Part III Hawaiian Electric’s Certain Relationships and Related Transactions, and Director Independence—Part III Hawaiian Electric’s Principal Accounting Fees and Services—Part III Selected sections of Proxy Statement of HEI for the 2023 Annual Meeting of Shareholders to be filed-Part III
Entity Central Index Key	0000354707
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Hawaiian Electric Company, Inc. and Subsidiaries
Entity Information [Line Items]
Current Fiscal Year End Date	--12-31
Entity Registrant Name	Hawaiian Electric Company, Inc.
Entity File Number	1-4955
Entity Tax Identification Number	99-0040500
Entity Address, Address Line One	1099 Alakea Street
Entity Address, Address Line Two	Suite 2200
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-7771
Title of 12(g) Security	Cumulative Preferred Stock
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,854,278
Entity Central Index Key	0000046207
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Auditor [Line Items]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Honolulu, Hawaii
Auditor Firm ID	34
Hawaiian Electric Company, Inc. and Subsidiaries
Auditor [Line Items]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Honolulu, Hawaii
Auditor Firm ID	34

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Total revenues	$ 3,741,985	$ 2,850,379	$ 2,579,775
Expenses
Total expenses	3,360,912	2,464,313	2,268,282
Operating income (loss)
Operating income	381,073	386,066	311,493
Retirement defined benefits credit (expense)—other than service costs	4,411	5,848	(3,210)
Interest expense, net – other than on deposit liabilities and other bank borrowings	(103,402)	(94,363)	(88,694)
Allowance for borrowed funds used during construction	3,416	3,250	2,992
Allowance for equity funds used during construction	10,574	9,534	8,768
Gain on sales of investment securities, net and equity-method investment	8,123	528	9,275
Income before income taxes	304,195	310,863	240,624
Income taxes	61,167	62,807	40,910
Net income	243,028	248,056	199,714
Preferred stock dividends of Hawaiian Electric	1,890	1,890	1,890
Net income for common stock	$ 241,138	$ 246,166	$ 197,824
Basic earnings per common share (in dollars per share)	$ 2.20	$ 2.25	$ 1.81
Diluted earnings per common share (in dollars per share)	$ 2.20	$ 2.25	$ 1.81
Weighted-average number of common shares outstanding (in shares)	109,434	109,282	109,140
Net effect of potentially dilutive shares (share-based compensation programs) (in shares)	344	298	216
Weighted-average shares assuming dilution (in shares)	109,778	109,580	109,356
Electric utility
Revenues
Total revenues	$ 3,408,587	$ 2,539,636	$ 2,265,320
Expenses
Total expenses	3,109,396	2,260,078	1,996,770
Operating income (loss)
Operating income	299,191	279,558	268,550
Income before income taxes	240,600	223,785	211,753
Income taxes	49,676	44,148	40,418
Net income	190,924	179,637	171,335
Preferred stock dividends of Hawaiian Electric	1,995	1,995	1,995
Net income for common stock	188,929	177,642	169,340
Bank
Revenues
Total revenues	321,068	306,398	313,511
Expenses
Total expenses	219,550	178,195	251,702
Operating income (loss)
Operating income	101,518	128,203	61,809
Income before income taxes	102,241	130,559	69,271
Income taxes	22,252	29,325	11,688
Net income	79,989	101,234	57,583
Preferred stock dividends of Hawaiian Electric	0	0	0
Net income for common stock	79,989	101,234	57,583
Other
Revenues
Total revenues	12,330	4,345	944
Expenses
Total expenses	31,966	26,040	19,810
Operating income (loss)
Operating income	(19,636)	(21,695)	(18,866)
Income before income taxes	(38,646)	(43,481)	(40,400)
Income taxes	(10,761)	(10,666)	(11,196)
Net income	(27,885)	(32,815)	(29,204)
Preferred stock dividends of Hawaiian Electric	(105)	(105)	(105)
Net income for common stock	$ (27,780)	$ (32,710)	$ (29,099)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income for common stock	$ 241,138	$ 246,166	$ 197,824
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 $(110,140), $(18,903) and $7,008 for 2022, 2021 and 2020, respectively	(300,860)	(51,636)	19,143
Reclassification adjustment for net realized gains included in net income, net of taxes of nil, $(142) and $(599) for 2022, 2021 and 2020, respectively	0	(387)	(1,638)
Amortization of unrealized holding losses on held-to-maturity securities, net of taxes of $1,462, nil and nil for 2022, 2021 and 2020, respectively	3,993	0	0
Derivatives qualified as cash flow hedges:
Unrealized interest rate hedging gains (losses), net of taxes of $1,892, $(108) and $(607) for 2022, 2021 and 2020, respectively	5,457	(312)	(1,750)
Reclassification adjustment to net income, net of taxes of $60, $13 and nil for 2022, 2021 and 2020, respectively	172	37	0
Retirement benefit plans:
Net gains (losses) arising during the period, net of taxes of $65,174, $53,068 and $(20,907) for 2022, 2021 and 2020, respectively	188,020	153,121	(60,529)
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes of $6,820, $6,665 and $8,247 for 2022, 2021 and 2020, respectively	19,659	19,253	23,689
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $(69,345), $(59,429) and $13,825 for 2022, 2021 and 2020, respectively	(199,936)	(171,345)	39,860
Other comprehensive income (loss), net of taxes	(283,495)	(51,269)	18,775
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ (42,357)	$ 194,897	$ 216,599

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net unrealized gains (losses) on available-for sale investment securities:
Net unrealized gains (losses) on securities arising during the period, tax (benefits)	$ (110,140)	$ (18,903)	$ 7,008
Reclassification adjustment for net realized gains included in net income, tax expenses	0	(142)	(599)
Amortization of unrealized holding losses on held-to-maturity securities, net of taxes	1,462	0	0
Derivatives qualified as cash flow hedges:
Foreign currency hedge net unrealized loss, taxes (benefits)	1,892	(108)	(607)
Reclassification adjustment to net income, taxes	60	13	0
Retirement benefit plans:
Net gains (losses) arising during the period, taxes (benefits)	65,174	53,068	(20,907)
Amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, tax benefits	6,820	6,665	8,247
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, (taxes) benefits	$ (69,345)	$ (59,429)	$ 13,825

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents, December 31	$ 199,877	$ 305,551
Restricted cash	5,050	5,911
Accounts receivable and unbilled revenues, net	511,903	344,213
Available-for-sale investment securities, at fair value	1,429,667	2,574,618
Held-to-maturity investment securities, at amortized cost	1,251,747	522,270
Stock in Federal Home Loan Bank, at cost	26,560	10,000
Loans held for investment, net	5,906,690	5,139,984
Loans held for sale, at lower of cost or fair value	824	10,404
Property, plant and equipment, net
Land	109,381	102,910
Plant and equipment	8,427,748	8,085,793
Right-of-use assets - finance lease	49,370	0
Construction in progress	293,048	231,495
Property, plant and equipment, gross	8,879,547	8,420,198
Less – accumulated depreciation	(3,192,545)	(3,028,130)
Total property, plant and equipment, net	5,687,003	5,392,068
Operating lease right-of-use-assets	115,684	122,416
Regulatory assets	242,513	565,543
Other	824,536	747,469
Goodwill	82,190	82,190
Total assets	16,284,244	15,822,637
Liabilities
Accounts payable	251,460	205,544
Interest and dividends payable	21,333	19,889
Deposit liabilities	8,169,696	8,172,212
Short-term borrowings—other than bank	172,568	53,998
Other bank borrowings	695,120	88,305
Long-term debt, net—other than bank	2,384,980	2,321,937
Deferred income taxes	262,462	384,760
Operating lease liabilities	126,604	136,760
Finance lease liabilities	48,709	0
Regulatory liabilities	1,055,650	996,768
Defined benefit pension and other postretirement benefit plans liability	71,813	348,072
Other	787,057	669,215
Total liabilities	14,047,452	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: 109,470,795 shares and 109,311,785 shares at December 31, 2022 and 2021, respectively	1,692,697	1,685,496
Retained earnings	845,830	757,921
Accumulated other comprehensive income (loss), net of taxes
Net unrealized losses on securities	(328,904)	(32,037)
Unrealized gains (losses) on derivatives	1,991	(3,638)
Retirement benefit plans	(9,115)	(16,858)
Accumulated other comprehensive income (loss), net of taxes	(336,028)	(52,533)
Total shareholders’ equity	2,202,499	2,390,884
Total capitalization and liabilities	$ 16,284,244	$ 15,822,637

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Dec. 31, 2022	Dec. 31, 2021
Shareholders’ equity
Preferred stock, authorized shares (in shares)	10,000,000	10,000,000
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, issued shares (in shares)	109,470,795	109,311,785
Common stock, outstanding shares (in shares)	109,470,795	109,311,785

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Impact of adoption of ASU No. 2016-13	Balance, January 1, 2020 after adoption of ASU No. 2016-13	Common stock	Common stock Balance, January 1, 2020 after adoption of ASU No. 2016-13	Retained earnings	Retained earnings Impact of adoption of ASU No. 2016-13	Retained earnings Balance, January 1, 2020 after adoption of ASU No. 2016-13	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) Balance, January 1, 2020 after adoption of ASU No. 2016-13
Beginning balance (in shares) at Dec. 31, 2019				108,973,000	108,973,000
Beginning balance at Dec. 31, 2019	$ 2,280,260	$ (15,372)	$ 2,264,888	$ 1,678,257	$ 1,678,257	$ 622,042	$ (15,372)	$ 606,670	$ (20,039)	$ (20,039)
Increase (decrease) in stockholders' equity
Net income for common stock	197,824					197,824
Other comprehensive income (loss), net of taxes	18,775								18,775
Issuance of common stock:
Share-based plans (in shares)				208,000
Share-based plans	3,973			$ 3,973
Share-based expenses and other, net	(3,862)			$ (3,862)
Common stock dividends	(144,096)					(144,096)
Ending balance (in shares) at Dec. 31, 2020				109,181,000
Ending 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	246,166					246,166
Other comprehensive income (loss), net of taxes	(51,269)								(51,269)
Issuance of common stock:
Share-based plans (in shares)				131,000
Share-based plans	5,027			$ 5,027
Share-based expenses and other, net	2,101			$ 2,101
Common stock dividends	$ (148,643)					(148,643)
Ending balance (in shares) at Dec. 31, 2021	109,311,785			109,312,000
Ending 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	241,138					241,138
Other comprehensive income (loss), net of taxes	(283,495)								(283,495)
Issuance of common stock:
Share-based plans (in shares)				159,000
Share-based plans	5,831			$ 5,831
Share-based expenses and other, net	1,370			$ 1,370
Common stock dividends	$ (153,229)					(153,229)
Ending balance (in shares) at Dec. 31, 2022	109,470,795			109,471,000
Ending balance at Dec. 31, 2022	$ 2,202,499			$ 1,692,697		$ 845,830			$ (336,028)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 1.40	$ 1.36	$ 1.32

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net income	$ 243,028	$ 248,056	$ 199,714
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	256,069	246,158	238,114
Other amortization	38,772	32,544	52,664
Provision for credit losses	2,037	(25,825)	50,811
Loans originated, held for sale	(128,195)	(340,986)	(564,525)
Proceeds from sale of loans, held for sale	136,504	364,848	567,652
Gain on sale of investment securities, net	(8,123)	(528)	(9,275)
Gain on sale of loans	(1,692)	(9,305)	(23,734)
Deferred income taxes	(32,502)	(5,398)	(1,706)
Share-based compensation expense	10,366	9,135	5,810
Allowance for equity funds used during construction	(10,574)	(9,534)	(8,768)
Other	(7,580)	(7,060)	1,366
Changes in assets and liabilities
Decrease (increase) in accounts receivable and unbilled revenues, net	(151,551)	(73,811)	2,533
Decrease (increase) in fuel oil stock	(87,569)	(45,819)	34,202
Decrease (increase) in regulatory assets	34,600	(13,874)	1,007
Increase (decrease) in regulatory liabilities	44,888	15,358	(16,562)
Increase (decrease) in accounts, interest and dividends payable	28,169	9,925	(20,068)
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	121,636	41,331	(35,610)
Decrease in defined benefit pension and other postretirement benefit plans liability	(5,191)	(6,660)	(2,029)
Change in other assets and liabilities	(28,616)	(52,882)	(42,189)
Net cash provided by operating activities	454,476	375,673	429,407
Cash flows from investing activities
Available-for-sale investment securities purchased	(366,177)	(1,464,644)	(1,361,594)
Principal repayments on available-for-sale investment securities	342,354	583,238	478,351
Proceeds from sale of available-for-sale investment securities	0	197,354	169,157
Purchases of held-to-maturity investment securities	0	(349,579)	(146,738)
Proceeds from repayments or maturities of held-to-maturity investment securities	29,432	53,654	59,894
Purchase of stock from Federal Home Loan Bank	(173,768)	(33,022)	(27,350)
Redemption of stock from Federal Home Loan Bank	157,208	31,702	27,104
Net decrease (increase) in loans held for investment	(661,492)	72,489	(229,311)
Proceeds from sale of residential loans	0	59,844	0
Purchase of loans held for investment	(102,504)	0	0
Proceeds from sale of real estate held for sale	3,806	0	0
Capital expenditures	(344,037)	(314,524)	(383,895)
Proceeds from sale of low income housing investments	0	0	6,725
Contributions to low income housing investments	(844)	(16,131)	(9,403)
Acquisition of business	(25,706)	0	0
Other, net	13,046	27	3,412
Net cash used in investing activities	(1,128,682)	(1,179,592)	(1,413,648)
Cash flows from financing activities
Net increase (decrease) in deposit liabilities	(2,516)	785,255	1,115,055
Net decrease in short-term borrowings with original maturities of three months or less	83,652	(10,493)	(71,219)
Proceeds from issuance of short-term debt	35,000	0	165,000
Repayment of short-term debt	0	(65,000)	(150,000)
Net increase (decrease) in other bank borrowings with original maturities of three months or less	606,815	(1,365)	(25,440)
Proceeds from issuance of other bank borrowings	0	0	30,000
Repayment of other bank borrowings	0	0	(30,000)
Proceeds from issuance of long-term debt	227,312	285,886	415,997
Repayment of long-term debt and funds transferred for repayment of long-term debt	(221,910)	(82,262)	(178,969)
Withheld shares for employee taxes on vested share-based compensation	(3,165)	(2,006)	(5,700)
Common stock dividends	(153,229)	(148,643)	(144,096)
Preferred stock dividends of subsidiaries	(1,890)	(1,890)	(1,890)
Other	(2,398)	(3,080)	(3,203)
Net cash used in financing activities	567,671	756,402	1,115,535
Net increase (decrease) in cash and equivalents	(106,535)	(47,517)	131,294
Cash, cash equivalents and restricted cash, January 1	311,462	358,979	227,685
Cash, cash equivalents and restricted cash, December 31	204,927	311,462	358,979
Less: Restricted cash	(5,050)	(5,911)	(17,558)
Cash and cash equivalents, December 31	$ 199,877	$ 305,551	$ 341,421

Consolidated Statements of In_2

Consolidated Statements of Income - HECO - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues	$ 3,741,985	$ 2,850,379	$ 2,579,775
Expenses
Total expenses	3,360,912	2,464,313	2,268,282
Operating income	381,073	386,066	311,493
Allowance for equity funds used during construction	10,574	9,534	8,768
Retirement defined benefits credit (expense)—other than service costs	4,411	5,848	(3,210)
Allowance for borrowed funds used during construction	3,416	3,250	2,992
Income before income taxes	304,195	310,863	240,624
Income taxes	61,167	62,807	40,910
Net income	243,028	248,056	199,714
Preferred stock dividends of Hawaiian Electric	1,890	1,890	1,890
Net income for common stock	241,138	246,166	197,824
Hawaiian Electric Company, Inc. and Subsidiaries
Revenues	3,408,587	2,539,636	2,265,320
Expenses
Fuel oil	1,265,614	644,349	515,274
Purchased power	793,584	670,494	568,749
Other operation and maintenance	497,601	475,412	474,192
Depreciation	235,424	229,469	222,733
Taxes, other than income taxes	317,173	240,354	215,822
Total expenses	3,109,396	2,260,078	1,996,770
Operating income	299,191	279,558	268,550
Allowance for equity funds used during construction	10,574	9,534	8,768
Retirement defined benefits credit (expense)—other than service costs	3,835	3,890	(763)
Interest expense and other charges, net	(76,416)	(72,447)	(67,794)
Allowance for borrowed funds used during construction	3,416	3,250	2,992
Income before income taxes	240,600	223,785	211,753
Income taxes	49,676	44,148	40,418
Net income (loss)	190,924	179,637	171,335
Preferred stock dividends of subsidiaries	915	915	915
Net income	190,009	178,722	170,420
Preferred stock dividends of Hawaiian Electric	1,080	1,080	1,080
Net income for common stock	$ 188,929	$ 177,642	$ 169,340

Consolidated Statements of Co_3

Consolidated Statements of Comprehensive Income - HECO - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net income for common stock	$ 241,138	$ 246,166	$ 197,824
Retirement benefit plans:
Net gains (losses) arising during the period, net of taxes of $64,925, $52,554 and $(21,868) for 2022, 2021 and 2020, respectively	188,020	153,121	(60,529)
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes of $6,550, $6,750 and $7,474 for 2022, 2021 and 2020, respectively	19,659	19,253	23,689
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $(69,345), $(59,429), and $13,825 for 2022, 2021 and 2020, respectively	(199,936)	(171,345)	39,860
Other comprehensive income (loss), net of taxes	(283,495)	(51,269)	18,775
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	(42,357)	194,897	216,599
Hawaiian Electric Company, Inc. and Subsidiaries
Net income for common stock	188,929	177,642	169,340
Retirement benefit plans:
Net gains (losses) arising during the period, net of taxes of $64,925, $52,554 and $(21,868) for 2022, 2021 and 2020, respectively	187,193	151,523	(63,050)
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes of $6,550, $6,750 and $7,474 for 2022, 2021 and 2020, respectively	18,884	19,461	21,550
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $(69,345), $(59,429), and $13,825 for 2022, 2021 and 2020, respectively	(199,936)	(171,345)	39,860
Other comprehensive income (loss), net of taxes	6,141	(361)	(1,640)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 195,070	$ 177,281	$ 167,700

Consolidated Statements of Co_4

Consolidated Statements of Comprehensive Income (Parenthetical) - HECO - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement benefit plans:
Net gains (losses) arising during the period, taxes (benefits)	$ 65,174	$ 53,068	$ (20,907)
Amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, tax benefits	6,820	6,665	8,247
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, (taxes) benefits	69,345	59,429	(13,825)
Hawaiian Electric Company, Inc. and Subsidiaries
Retirement benefit plans:
Net gains (losses) arising during the period, taxes (benefits)	64,925	52,554	(21,868)
Amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, tax benefits	6,550	6,750	7,474
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, (taxes) benefits	$ (69,345)	$ (59,429)	$ 13,825

Consolidated Balance Sheets - H

Consolidated Balance Sheets - HECO - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Utility property, plant and equipment
Right-of-use assets - finance lease	$ 49,370	$ 0
Total property, plant and equipment, net	5,687,003	5,392,068
Current assets
Cash and cash equivalents	199,877	305,551
Restricted cash	5,100	5,900
Other long-term assets
Operating lease right-of-use-assets	115,684	122,416
Total assets	16,284,244	15,822,637
Capitalization
Common stock equity	2,202,499	2,390,884
Cumulative preferred stock – not subject to mandatory redemption	34,293	34,293
Commitments and contingencies
Current liabilities
Interest and dividends payable	21,333	19,889
Deferred credits and other liabilities
Deferred income taxes	262,462	384,760
Total capitalization and liabilities	16,284,244	15,822,637
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Land	52,060	51,937
Plant and equipment	7,979,510	7,735,983
Right-of-use assets - finance lease	48,371	0
Less accumulated depreciation	(3,086,499)	(2,940,517)
Construction in progress	275,353	204,569
Utility property, plant and equipment, net	5,268,795	5,051,972
Nonutility property, plant and equipment, less accumulated depreciation of $63 and $59 as of December 31, 2022 and 2021, respectively	6,945	6,949
Total property, plant and equipment, net	5,275,740	5,058,921
Current assets
Cash and cash equivalents	39,242	52,169
Restricted cash	0	3,089
Customer accounts receivable, net	288,338	186,859
Accrued unbilled revenues, net	183,280	129,155
Other accounts receivable, net	13,567	7,267
Fuel oil stock, at average cost	191,530	104,078
Materials and supplies, at average cost	79,568	71,877
Prepayments and other	33,482	46,031
Regulatory assets	52,273	66,664
Total current assets	881,280	667,189
Other long-term assets
Operating lease right-of-use-assets	89,318	101,470
Regulatory assets	190,240	498,879
Other	160,889	165,166
Total other long-term assets	440,447	765,515
Total assets	6,597,467	6,491,625
Capitalization
Common stock equity	2,344,170	2,261,899
Cumulative preferred stock – not subject to mandatory redemption	34,293	34,293
Commitments and contingencies
Long-term debt, net	1,584,854	1,624,427
Total capitalization	3,963,317	3,920,619
Current liabilities
Current portion of operating lease liabilities	19,095	49,368
Current portion of long-term debt, net	99,962	51,975
Short-term borrowings from non-affiliate	87,967	0
Accounts payable	202,492	160,007
Interest and dividends payable	17,176	17,325
Taxes accrued, including revenue taxes	289,902	208,280
Regulatory liabilities	31,475	29,760
Other	85,596	71,569
Total current liabilities	833,665	588,284
Deferred credits and other liabilities
Operating lease liabilities	78,715	65,780
Finance lease liabilities	46,048	0
Deferred income taxes	384,430	408,634
Regulatory liabilities	1,024,175	967,008
Unamortized tax credits	95,300	103,945
Defined benefit pension and other postretirement benefit plans liability	49,748	321,780
Other	122,069	115,575
Total deferred credits and other liabilities	1,800,485	1,982,722
Total capitalization and liabilities	$ 6,597,467	$ 6,491,625

Consolidated Balance Sheets -_2

Consolidated Balance Sheets - HECO (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Accumulated depreciation on other property, plant and equipment	$ 63	$ 59

Consolidated Statements of Capi

Consolidated Statements of Capitalization - HECO - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Common stock equity
Retained earnings	$ 845,830	$ 757,921
Accumulated other comprehensive income (loss), net of taxes-retirement benefit plans	(9,115)	(16,858)
Total shareholders’ equity	2,202,499	2,390,884
Cumulative preferred stock – not subject to mandatory redemption	34,293	34,293
Hawaiian Electric Company, Inc. and Subsidiaries
Common stock equity
Common stock of $6 2/3 par value, Authorized: 50,000,000 shares. Outstanding: 17,854,278 shares and 17,753,533 shares at December 31, 2022 and 2021, respectively	119,048	118,376
Premium on capital stock	810,955	798,526
Retained earnings	1,411,306	1,348,277
Accumulated other comprehensive income (loss), net of taxes-retirement benefit plans	2,861	(3,280)
Total shareholders’ equity	$ 2,344,170	$ 2,261,899
Shares outstanding (in shares)	1,234,657	1,234,657
Cumulative preferred stock – not subject to mandatory redemption	$ 34,293	$ 34,293
Long-term debt	1,692,000	1,684,000
Less unamortized debt issuance costs	7,184	7,598
Less current portion long-term debt, net of unamortized debt issuance costs	99,962	51,975
Long-term debt, net	1,584,854	1,624,427
Total capitalization	3,963,317	3,920,619
Hawaiian Electric Company, Inc. and Subsidiaries | Special Purpose Revenue Bonds
Common stock equity
Long-term debt	542,000	542,000
Hawaiian Electric Company, Inc. and Subsidiaries | Special Purpose Revenue Bonds | 3.50%, Series 2019, due 2049
Common stock equity
Long-term debt	80,000	80,000
Hawaiian Electric Company, Inc. and Subsidiaries | Special Purpose Revenue Bonds | 3.20%, Refunding series 2019, due 2039
Common stock equity
Long-term debt	150,000	150,000
Hawaiian Electric Company, Inc. and Subsidiaries | Special Purpose Revenue Bonds | 3.10%, Refunding series 2017A, due 2026
Common stock equity
Long-term debt	125,000	125,000
Hawaiian Electric Company, Inc. and Subsidiaries | Special Purpose Revenue Bonds | 4.00%, Refunding series 2017B, due 2037
Common stock equity
Long-term debt	140,000	140,000
Hawaiian Electric Company, Inc. and Subsidiaries | Special Purpose Revenue Bonds | 3.25%, Refunding series 2015, due 2025
Common stock equity
Long-term debt	47,000	47,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes
Common stock equity
Long-term debt	1,150,000	1,142,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 3.70%, Series 2022A, due 2032
Common stock equity
Long-term debt	60,000	0
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 3.51%, Series 2020C and 2020E, due 2050
Common stock equity
Long-term debt	70,000	70,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 3.28%, Series 2020B and 2020D, due 2040
Common stock equity
Long-term debt	45,000	45,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 3.96%, Series 2020A, 2020B and 2020C, due 2050
Common stock equity
Long-term debt	50,000	50,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 3.31%, Series 2020A and 2020B, due 2030
Common stock equity
Long-term debt	110,000	110,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.21%, Series 2019A, due 2034
Common stock equity
Long-term debt	50,000	50,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.38%, Series 2018A, due 2028
Common stock equity
Long-term debt	67,500	67,500
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.53%, Series 2018B, due 2033
Common stock equity
Long-term debt	17,500	17,500
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.72%, Series 2018C, due 2048
Common stock equity
Long-term debt	15,000	15,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.31%, Series 2017A, due 2047
Common stock equity
Long-term debt	50,000	50,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.54%, Series 2016A, due 2046
Common stock equity
Long-term debt	40,000	40,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 5.23%, Series 2015A, due 2045
Common stock equity
Long-term debt	80,000	80,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.45%, Series 2013A and 2013B, due 2022
Common stock equity
Long-term debt	0	52,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.84%, Series 2013A, 2013B and 2013C, due 2027
Common stock equity
Long-term debt	100,000	100,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 5.65%, Series 2013B and 2013C, due 2043
Common stock equity
Long-term debt	70,000	70,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.55%, Series 2012B and 2012C, due 2023
Common stock equity
Long-term debt	100,000	100,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.72%, Series 2012D, due 2029
Common stock equity
Long-term debt	35,000	35,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 5.39%, Series 2012E, due 2042
Common stock equity
Long-term debt	150,000	150,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.53%, Series 2012F, due 2032
Common stock equity
Long-term debt	$ 40,000	$ 40,000
Hawaiian Electric Company, Inc. and Subsidiaries | Preferred Stock $20 Par Value
Common stock equity
Par value (in dollars per share)	$ 20	$ 20
Hawaiian Electric Company, Inc. and Subsidiaries | Preferred Stock $100 Par Value
Common stock equity
Par value (in dollars per share)	100	100
Hawaiian Electric | Series C, 4.25% Preferred Stock
Common stock equity
Par value (in dollars per share)	$ 20	$ 20
Shares outstanding (in shares)	150,000	150,000
Cumulative preferred stock – not subject to mandatory redemption	$ 3,000	$ 3,000
Hawaiian Electric | Series D, 5.00% Preferred Stock
Common stock equity
Par value (in dollars per share)	$ 20	$ 20
Shares outstanding (in shares)	50,000	50,000
Cumulative preferred stock – not subject to mandatory redemption	$ 1,000	$ 1,000
Hawaiian Electric | Series E, 5.00% Preferred Stock
Common stock equity
Par value (in dollars per share)	$ 20	$ 20
Shares outstanding (in shares)	150,000	150,000
Cumulative preferred stock – not subject to mandatory redemption	$ 3,000	$ 3,000
Hawaiian Electric | Series H, 5.25% Preferred Stock
Common stock equity
Par value (in dollars per share)	$ 20	$ 20
Shares outstanding (in shares)	250,000	250,000
Cumulative preferred stock – not subject to mandatory redemption	$ 5,000	$ 5,000
Hawaiian Electric | Series I, 5.00% Preferred Stock
Common stock equity
Par value (in dollars per share)	$ 20	$ 20
Shares outstanding (in shares)	89,657	89,657
Cumulative preferred stock – not subject to mandatory redemption	$ 1,793	$ 1,793
Hawaiian Electric | Series J, 4.75% Preferred Stock
Common stock equity
Par value (in dollars per share)	$ 20	$ 20
Shares outstanding (in shares)	250,000	250,000
Cumulative preferred stock – not subject to mandatory redemption	$ 5,000	$ 5,000
Hawaiian Electric | Series K, 4.65% Preferred Stock
Common stock equity
Par value (in dollars per share)	$ 20	$ 20
Shares outstanding (in shares)	175,000	175,000
Cumulative preferred stock – not subject to mandatory redemption	$ 3,500	$ 3,500
Hawaii Electric Light | Series G, 7.625% Preferred Stock
Common stock equity
Par value (in dollars per share)	$ 100	$ 100
Shares outstanding (in shares)	70,000	70,000
Cumulative preferred stock – not subject to mandatory redemption	$ 7,000	$ 7,000
Maui Electric | Series H, 7.625% Preferred Stock
Common stock equity
Par value (in dollars per share)	$ 100	$ 100
Shares outstanding (in shares)	50,000	50,000
Cumulative preferred stock – not subject to mandatory redemption	$ 5,000	$ 5,000

Consolidated Statements of Ca_2

Consolidated Statements of Capitalization - HECO (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, outstanding shares (in shares)	109,470,795	109,311,785
Hawaiian Electric Company, Inc. and Subsidiaries
Common stock, par value (in dollars per share)	$ 6.667	$ 6.667
Common stock, authorized shares (in shares)	50,000,000	50,000,000
Common stock, outstanding shares (in shares)	17,854,278	17,753,533
Hawaiian Electric Company, Inc. and Subsidiaries | Special Purpose Revenue Bonds | 3.50%, Series 2019, due 2049
Debt instrument, stated interest rate	3.50%
Hawaiian Electric Company, Inc. and Subsidiaries | Special Purpose Revenue Bonds | 3.20%, Refunding series 2019, due 2039
Debt instrument, stated interest rate	3.20%
Hawaiian Electric Company, Inc. and Subsidiaries | Special Purpose Revenue Bonds | 3.10%, Refunding series 2017A, due 2026
Debt instrument, stated interest rate	3.10%
Hawaiian Electric Company, Inc. and Subsidiaries | Special Purpose Revenue Bonds | 4.00%, Refunding series 2017B, due 2037
Debt instrument, stated interest rate	4%
Hawaiian Electric Company, Inc. and Subsidiaries | Special Purpose Revenue Bonds | 3.25%, Refunding series 2015, due 2025
Debt instrument, stated interest rate	3.25%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 3.70%, Series 2022A, due 2032
Debt instrument, stated interest rate	3.70%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 3.51%, Series 2020C and 2020E, due 2050
Debt instrument, stated interest rate	3.51%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 3.28%, Series 2020B and 2020D, due 2040
Debt instrument, stated interest rate	3.28%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 3.96%, Series 2020A, 2020B and 2020C, due 2050
Debt instrument, stated interest rate	3.96%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 3.31%, Series 2020A and 2020B, due 2030
Debt instrument, stated interest rate	3.31%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.21%, Series 2019A, due 2034
Debt instrument, stated interest rate	4.21%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.38%, Series 2018A, due 2028
Debt instrument, stated interest rate	4.38%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.53%, Series 2018B, due 2033
Debt instrument, stated interest rate	4.53%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.72%, Series 2018C, due 2048
Debt instrument, stated interest rate	4.72%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.31%, Series 2017A, due 2047
Debt instrument, stated interest rate	4.31%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.54%, Series 2016A, due 2046
Debt instrument, stated interest rate	4.54%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 5.23%, Series 2015A, due 2045
Debt instrument, stated interest rate	5.23%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.45%, Series 2013A and 2013B, due 2022
Debt instrument, stated interest rate	4.45%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.84%, Series 2013A, 2013B and 2013C, due 2027
Debt instrument, stated interest rate	4.84%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 5.65%, Series 2013B and 2013C, due 2043
Debt instrument, stated interest rate	5.65%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.55%, Series 2012B and 2012C, due 2023
Debt instrument, stated interest rate	4.55%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.72%, Series 2012D, due 2029
Debt instrument, stated interest rate	4.72%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 5.39%, Series 2012E, due 2042
Debt instrument, stated interest rate	5.39%
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes | 4.53%, Series 2012F, due 2032
Debt instrument, stated interest rate	4.53%
Hawaiian Electric Company, Inc. and Subsidiaries | Preferred Stock $20 Par Value
Preferred stock, authorized shares (in shares)	5,000,000	5,000,000
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Hawaiian Electric Company, Inc. and Subsidiaries | Preferred Stock $100 Par Value
Preferred stock, authorized shares (in shares)	7,000,000	7,000,000
Preferred stock, par value (in dollars per share)	$ 100	$ 100
Hawaiian Electric | Series C, 4.25% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, stated dividend rate	4.25%	4.25%
Hawaiian Electric | Series D, 5.00% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, stated dividend rate	5%	5%
Hawaiian Electric | Series E, 5.00% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, stated dividend rate	5%	5%
Hawaiian Electric | Series H, 5.25% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, stated dividend rate	5.25%	5.25%
Hawaiian Electric | Series I, 5.00% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, stated dividend rate	5%	5%
Hawaiian Electric | Series J, 4.75% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, stated dividend rate	4.75%	4.75%
Hawaiian Electric | Series K, 4.65% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, stated dividend rate	4.65%	4.65%
Hawaii Electric Light | Series G, 7.625% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 100	$ 100
Preferred stock, stated dividend rate	7.625%	7.625%
Maui Electric | Series H, 7.625% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 100	$ 100
Preferred stock, stated dividend rate	7.625%	7.625%

Consolidated Statements of Ch_3

Consolidated Statements of Changes in Common Stock Equity - HECO - USD ($) $ in Thousands	Total	Retained earnings	Accumulated other comprehensive income (loss)	Hawaiian Electric Company, Inc. and Subsidiaries	Hawaiian Electric Company, Inc. and Subsidiaries Common stock	Hawaiian Electric Company, Inc. and Subsidiaries Premium on capital stock	Hawaiian Electric Company, Inc. and Subsidiaries Retained earnings	Hawaiian Electric Company, Inc. and Subsidiaries Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2019					17,048,000
Beginning balance at Dec. 31, 2019	$ 2,280,260	$ 622,042	$ (20,039)	$ 2,047,352	$ 113,678	$ 714,824	$ 1,220,129	$ (1,279)
Increase (decrease) in stockholders' equity
Net income for common stock	197,824	197,824		169,340			169,340
Other comprehensive income (loss), net of taxes	18,775		18,775	(1,640)				(1,640)
Issuance of common stock, net of expenses (in shares)					276,000
Issuance of common stock, net of expenses	3,973			34,000	$ 1,837	32,163
Common stock dividends	(144,096)	(144,096)		(107,134)			(107,134)
Ending balance (in shares) at Dec. 31, 2020					17,324,000
Ending balance at Dec. 31, 2020	2,337,502	660,398	(1,264)	2,141,918	$ 115,515	746,987	1,282,335	(2,919)
Increase (decrease) in stockholders' equity
Net income for common stock	246,166	246,166		177,642			177,642
Other comprehensive income (loss), net of taxes	(51,269)		(51,269)	(361)				(361)
Issuance of common stock, net of expenses (in shares)					429,000
Issuance of common stock, net of expenses	5,027			54,400	$ 2,861	51,539
Common stock dividends	$ (148,643)	(148,643)		(111,700)			(111,700)
Ending balance (in shares) at Dec. 31, 2021	109,311,785				17,753,000
Ending balance at Dec. 31, 2021	$ 2,390,884	757,921	(52,533)	2,261,899	$ 118,376	798,526	1,348,277	(3,280)
Increase (decrease) in stockholders' equity
Net income for common stock	241,138	241,138		188,929			188,929
Other comprehensive income (loss), net of taxes	(283,495)		(283,495)	6,141				6,141
Issuance of common stock, net of expenses (in shares)					101,000
Issuance of common stock, net of expenses	5,831			13,101	$ 672	12,429
Common stock dividends	$ (153,229)	(153,229)		(125,900)			(125,900)
Ending balance (in shares) at Dec. 31, 2022	109,470,795				17,854,000
Ending balance at Dec. 31, 2022	$ 2,202,499	$ 845,830	$ (336,028)	$ 2,344,170	$ 119,048	$ 810,955	$ 1,411,306	$ 2,861

Consolidated Statements of Ca_3

Consolidated Statements of Cash Flows - HECO - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	$ 256,069	$ 246,158	$ 238,114
Other amortization	38,772	32,544	52,664
Deferred income taxes	(32,502)	(5,398)	(1,706)
Allowance for equity funds used during construction	(10,574)	(9,534)	(8,768)
Other	(7,580)	(7,060)	1,366
Changes in assets and liabilities
Decrease (increase) in fuel oil stock	(87,569)	(45,819)	34,202
Decrease (increase) in regulatory assets	34,600	(13,874)	1,007
Increase (decrease) in regulatory liabilities	44,888	15,358	(16,562)
Change in prepaid and accrued income taxes, tax credits and revenue taxes	121,636	41,331	(35,610)
Decrease in defined benefit pension and other postretirement benefit plans liability	(5,191)	(6,660)	(2,029)
Change in other assets and liabilities	(28,616)	(52,882)	(42,189)
Net cash provided by operating activities	454,476	375,673	429,407
Cash flows from investing activities
Capital expenditures	(344,037)	(314,524)	(383,895)
Other, net	13,046	27	3,412
Net cash used in investing activities	(1,128,682)	(1,179,592)	(1,413,648)
Cash flows from financing activities
Common stock dividends	(153,229)	(148,643)	(144,096)
Proceeds from issuance of long-term debt	227,312	285,886	415,997
Repayment of long-term debt and funds transferred for repayment of long-term debt	(221,910)	(82,262)	(178,969)
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	83,652	(10,493)	(71,219)
Proceeds from issuance of short-term debt	35,000	0	165,000
Repayment of short-term debt	0	(65,000)	(150,000)
Payments of obligations under finance leases	(849)
Other	(2,398)	(3,080)	(3,203)
Net cash used in financing activities	567,671	756,402	1,115,535
Net increase (decrease) in cash and equivalents	(106,535)	(47,517)	131,294
Cash, cash equivalents and restricted cash, January 1	311,462	358,979	227,685
Cash, cash equivalents and restricted cash, December 31	204,927	311,462	358,979
Less: Restricted cash	(5,050)	(5,911)	(17,558)
Cash and cash equivalents	199,877	305,551	341,421
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	190,924	179,637	171,335
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	235,424	229,469	222,733
Other amortization	25,320	21,737	33,746
Deferred income taxes	(41,415)	(3,829)	3,151
State refundable credit	(10,999)	(10,582)	(9,961)
Bad debt expense	6,027	2,183	2,115
Allowance for equity funds used during construction	(10,574)	(9,534)	(8,768)
Bill credits	0	2,000	0
Accrued environmental reserve	0	0	6,556
Other	(139)	1,350	2,610
Changes in assets and liabilities
Increase in accounts receivable	(91,742)	(50,090)	(7,286)
Decrease (increase) in accrued unbilled revenues	(54,023)	(27,464)	15,285
Decrease (increase) in fuel oil stock	(87,452)	(45,840)	33,699
Increase in materials and supplies	(7,691)	(4,533)	(6,642)
Decrease (increase) in regulatory assets	34,600	(13,874)	1,007
Increase (decrease) in regulatory liabilities	44,888	15,358	(16,562)
Increase (decrease) in accounts payable	22,355	17,671	(33,129)
Change in prepaid and accrued income taxes, tax credits and revenue taxes	103,198	26,930	(37,180)
Decrease in defined benefit pension and other postretirement benefit plans liability	(4,828)	(5,154)	(4,306)
Change in other assets and liabilities	(25,943)	(52,302)	(31,852)
Net cash provided by operating activities	327,930	273,133	336,551
Cash flows from investing activities
Capital expenditures	(329,457)	(292,000)	(350,864)
Other, net	5,372	6,035	6,070
Net cash used in investing activities	(324,085)	(285,965)	(344,794)
Cash flows from financing activities
Common stock dividends	(125,900)	(111,700)	(107,134)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(1,995)	(1,995)	(1,995)
Proceeds from issuance of common stock	13,101	54,400	34,000
Proceeds from issuance of long-term debt	60,000	115,000	255,000
Repayment of long-term debt and funds transferred for repayment of long-term debt	(52,000)	0	(109,000)
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	87,967	0	(38,987)
Proceeds from issuance of short-term debt	0	0	100,000
Repayment of short-term debt	0	(50,000)	(100,000)
Payments of obligations under finance leases	(670)	0	0
Other	(364)	(941)	(2,209)
Net cash used in financing activities	(19,861)	4,764	29,675
Net increase (decrease) in cash and equivalents	(16,016)	(8,068)	21,432
Cash, cash equivalents and restricted cash, January 1	55,258	63,326	41,894
Cash, cash equivalents and restricted cash, December 31	39,242	55,258	63,326
Less: Restricted cash	0	(3,089)	(15,966)
Cash and cash equivalents	$ 39,242	$ 52,169	$ 47,360

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of significant accounting policies	Note 1 · Summary of significant accounting policies General Hawaiian Electric Industries, Inc. (HEI) is a holding company with direct and indirect subsidiaries principally engaged in electric utility, banking, and non-regulated renewable/sustainable infrastructure businesses operating in the State of Hawaii. HEI owns Hawaiian Electric Company, Inc. (Hawaiian Electric), ASB Hawaii, Inc. (ASB Hawaii), an intermediate holding company that owns American Savings Bank, F.S.B. (ASB), and Pacific Current, LLC (Pacific Current). Hawaiian Electric and its wholly owned operating subsidiaries, Hawaii Electric Light Company, Inc. (Hawaii Electric Light) and Maui Electric Company, Limited (Maui Electric), are regulated public electric utilities (collectively, the Utilities) in the business of generating, purchasing, transmitting, distributing and selling electric energy on all major islands in Hawaii other than Kauai. See Note 2. ASB is a federally chartered, full-service community bank providing a wide range of banking services to individual and business customers through its 38 branches on Oahu (27), Maui (5), Hawaii (3), Kauai (2) and Molokai (1). Pacific Current’s significant subsidiaries include Hamakua Energy, LLC (Hamakua Energy), Mauo, LLC (Mauo) and Kaʻieʻie Waho Company, LLC (Kaʻieʻie Waho) and Mahipapa, LLC (Mahipapa). See Note 2. Basis of presentation. In preparing the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change for HEI and its subsidiaries (collectively, the Company) include the amounts reported as fair value for investment securities (ASB only); pension and other postretirement benefit obligations; contingencies and litigation; income taxes; regulatory assets and liabilities (Utilities only); asset retirement obligations (Utilities only); and allowance for credit losses (ASB only). Consolidation. The HEI consolidated financial statements include the accounts of HEI and its subsidiaries. The Hawaiian Electric consolidated financial statements include the accounts of Hawaiian Electric and its subsidiaries. When HEI or Hawaiian Electric has a controlling financial interest in another entity (usually, majority voting interest), that entity is consolidated. Investments in companies over which the Company or the Utilities have the ability to exercise significant influence, but not control, are accounted for using the equity method. The consolidated financial statements exclude variable interest entities (VIEs) when the Company or the Utilities are not the primary beneficiaries. Significant intercompany amounts are eliminated in consolidation (see Note 2 for limited exceptions). Cash and cash equivalents. The Utilities consider cash on hand, deposits in banks, money market accounts, certificates of deposit, short-term commercial paper of non-affiliates and liquid investments (with original maturities of three months or less) to be cash and cash equivalents. The Company considers the same items to be cash and cash equivalents as well as ASB’s deposits with the Federal Home Loan Bank (FHLB), federal funds sold (excess funds that ASB loans to other banks overnight at the federal funds rate) and securities purchased under resale agreements with original maturities of three months or less. Restricted cash. The Utilities consider funds on deposit with trustees, which represent the undrawn proceeds from the issuance of special purpose revenue bonds, to be restricted cash because these funds are available only to finance (or reimburse payment of) approved capital expenditures. In addition to the Utilities’ funds on deposit with trustees, the Company considers cash held by trustees, related to non-recourse loans at Pacific Current subsidiaries, to be restricted cash. At December 31, 2022 and 2021, total restricted cash of the Company was $5.1 million and $5.9 million, respectively, and for the Utilities was nil and $3.1 million, respectively. Property, plant and equipment. Property, plant and equipment are reported at cost. Self-constructed electric utility plant includes engineering, supervision, administrative and general costs and an allowance for the cost of funds used during the construction period. These costs are recorded in construction in progress and are transferred to utility plant when construction is completed and the facilities are either placed in service or become useful for public utility purposes. Costs for betterments that make utility plant more useful, more efficient, of greater durability or of greater capacity are also capitalized. Upon the retirement or sale of electric utility plant, generally no gain or loss is recognized. The cost of the plant retired is charged to accumulated depreciation. Amounts collected from customers for cost of removal are included in regulatory liabilities. See discussion regarding “Utility projects” in Note 3. Depreciation. Depreciation is computed primarily using the straight-line method over the estimated lives of the assets being depreciated. Electric utility plant additions in the current year are depreciated beginning January 1 of the following year in accordance with rate-making. Electric utility plant and Pacific Current generation assets have lives ranging from 16 to 51 years for production plant, from 10 to 79 years for transmission and distribution plant, and from 5 to 50 years for general plant. The Utilities’ composite annual depreciation rate, which includes a component for cost of removal, was 3.2% in 2022, 2021 and 2020. Retirement benefits. Pension and other postretirement benefit costs are charged primarily to expense and electric utility plant (in the case of the Utilities). Funding for the Company’s qualified pension plans (Plans) is based on actuarial assumptions adopted by the Pension Investment Committee administering the Plans. The participating employers contribute amounts to pension trusts for the Plans in accordance with the funding requirements of the Employee Retirement Income Security Act of 1974, as amended (ERISA), including changes promulgated by the Pension Protection Act of 2006, and considering the deductibility of contributions under the Internal Revenue Code. The Company generally funds at least the net periodic pension cost during the year, subject to ERISA minimum and Internal Revenue Code limits and targeted funded status. Certain health care and/or life insurance benefits are provided to eligible retired employees and the employees’ beneficiaries and covered dependents. The Company generally funds the net periodic postretirement benefit costs other than pensions (except for executive life) for postretirement benefits other than pensions (OPEB), while maximizing the use of the most tax-advantaged funding vehicles, subject to cash flow requirements and reviews of the funded status with the consulting actuary. Environmental expenditures. The Company and the Utilities are subject to numerous federal and state environmental statutes and regulations. In general, environmental contamination treatment costs are charged to expense. Environmental costs are capitalized if the costs extend the life, increase the capacity, or improve the safety or efficiency of property; the costs mitigate or prevent future environmental contamination; or the costs are incurred in preparing the property for sale. Environmental costs are either capitalized or charged to expense when environmental assessments and/or remedial efforts are probable and the cost can be reasonably estimated. The Utilities review their sites and measure the liability quarterly by assessing a range of reasonably likely costs of each identified site using currently available information, including existing technology, presently enacted laws and regulations, experience gained at similar sites, and the probable level of involvement and financial condition of other potentially responsible parties. Income taxes. Deferred income tax assets and liabilities are established for the temporary differences between the financial reporting bases and the tax bases of the Company’s and the Utilities’ assets and liabilities at federal and state tax rates expected to be in effect when such deferred tax assets or liabilities are realized or settled. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount expected to be realized. HEI and the Utilities’ investment tax credits are deferred and amortized over the estimated useful lives of the properties to which the credits relate (and for the Utilities, this treatment is in accordance with Accounting Standards Codification (ASC) Topic 980, “Regulated Operations”). The Utilities are included in the consolidated income tax returns of HEI. However, income tax expense has been computed for financial statement purposes as if each utility filed a separate income tax return and Hawaiian Electric filed a consolidated Hawaiian Electric income tax return. Governmental tax authorities could challenge a tax return position taken by the Company. The Company and the Utilities use a “more-likely-than-not” recognition threshold and measurement standard for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Fair value measurements. Fair value estimates are estimates of the price that would be received to sell an asset, or paid upon the transfer of a liability, in an orderly transaction between market participants at the measurement date. The fair value estimates are generally determined based on assumptions that market participants would use in pricing the asset or liability and are based on market data obtained from independent sources. However, in certain cases, the Company and the Utilities use their own assumptions about market participant assumptions based on the best information available in the circumstances. These valuations are estimates at a specific point in time, based on relevant market information, information about the financial instrument and judgments regarding future expected loss experience, economic conditions, risk characteristics of various financial instruments and other factors. These estimates do not reflect any premium or discount that could result if the Company or the Utilities were to sell its entire holdings of a particular financial instrument at one time. Because no active trading market exists for a portion of the Company’s and the Utilities’ financial instruments, fair value estimates cannot be determined with precision. Changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the estimates. In addition, the tax ramifications related to the realization of the unrealized gains and losses could have a significant effect on fair value estimates, but have not been considered in making such estimates. The Company and the Utilities group their financial assets measured at fair value in three levels outlined as follows: Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and is used to measure fair value whenever available. Level 2: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that are derived principally from or can be corroborated by observable market data by correlation or other means. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using discounted cash flow methodologies, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Classification in the hierarchy is based upon the lowest level input that is significant to the fair value measurement of the asset or liability. For instruments classified in Level 1 and 2 where inputs are primarily based upon observable market data, there is less judgment applied in arriving at the fair value. For instruments classified in Level 3, management judgment is more significant due to the lack of observable market data. The Company reviews and updates the fair value hierarchy classifications on a quarterly basis. Changes from one quarter to the next related to the observability of inputs in fair value measurements may result in a reclassification between the fair value hierarchy levels and are recognized based on period-end balances. Fair value is also used on a nonrecurring basis to evaluate certain assets for impairment or for disclosure purposes. Examples of nonrecurring uses of fair value include mortgage servicing rights accounted for by the amortization method, loan impairments for certain loans, real estate acquired in settlement of loans, goodwill and asset retirement obligations (AROs). Earnings per share (HEI only). Basic earnings per share (EPS) is computed by dividing net income for common stock by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed similarly, except that dilutive common shares for stock compensation is added to the denominator. There were no shares of antidilutive securities outstanding during the years ended December 31, 2022, 2021 and 2020. Impairment of long-lived assets and long-lived assets to be disposed of. The Company and the Utilities review long-lived assets and certain identifiable intangibles for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell. Recent accounting pronouncements. Credit Losses. In March 2022, Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2022-02, “Financial Instruments-Credit Losses (ASC 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. The amendments in this ASU will not have a material financial impact but will require additional disclosures in the first quarter of 2023. Electric utility Regulation by the Public Utilities Commission of the State of Hawaii (PUC). The Utilities are regulated by the PUC and account for the effects of regulation under FASB ASC Topic 980, “Regulated Operations.” As a result, the Utilities’ financial statements reflect assets, liabilities, revenues and expenses based on current cost-based rate-making regulations (see Note 3—“Regulatory assets and liabilities”). Their continued accounting under ASC Topic 980 generally requires that rates are established by an independent, third-party regulator; rates are designed to recover the costs of providing service; and it is reasonable to assume that rates can be charged to, and collected from, customers. Management believes that the operations of the Utilities, including the impact of the approved PBR Framework, currently satisfy the criteria under ASC Topic 980. The rate schedules of the Utilities include energy costs recovery clauses (ECRCs) under which electric rates are adjusted for changes in the weighted-average price paid for fuel oil and certain components of purchased power, and the relative amounts of company-generated power and purchased power. The rate schedules also include purchased power adjustment clauses (PPACs) under which the remaining purchase power expenses are recovered through surcharge mechanisms. The amounts collected through the ECRCs and PPACs are required to be reconciled quarterly. Accounts receivable. Accounts receivable are recorded at the invoiced amount. The Utilities generally assess a late payment charge on balances unpaid from the previous month. The allowance for doubtful accounts is the Utilities’ best estimate of the amount of expected credit losses in the Utilities’ existing accounts receivable. Due to the economic impact of COVID-19 on customers and the moratorium on electric service disconnections through May 31, 2021, the allowance for doubtful accounts increased in 2020 and 2021. At December 31, 2022 and 2021, the allowance for customer accounts receivable, accrued unbilled revenues and other accounts receivable was $6.1 million and $26.1 million, respectively. Electric utility revenues. Revenues related to electric service are generally recorded when service is rendered and include revenues applicable to energy consumed in the accounting period but not yet billed to the customers. The Utilities also record revenue under a decoupling mechanism. See “Decoupling” discussion in Note 3. Repairs and maintenance costs. Repairs and maintenance costs for overhauls of generating units are generally expensed as they are incurred. Allowance for funds used during construction (AFUDC). AFUDC represents the estimated costs of debt (i.e., interest) and equity funds used to finance plant construction. AFUDC is credited on the statement of income and charged to construction in progress on the balance sheet. If a project under construction is delayed for an extended period of time, AFUDC on the delayed project may be stopped after assessing the causes of the delay and probability of recovery. The tax gross up of the allowance for equity funds used during construction is credited to income taxes on the statement of income and charged to a regulatory asset. This gross up, net of amortization of the regulatory asset, is reflected in income tax expense. The weighted-average AFUDC rate was 7.1% in 2022, 2021 and 2020, and reflected quarterly compounding. Asset retirement obligations. AROs are accounted for in accordance with ASC 410-20, Asset Retirement Obligations . AROs are recognized at present value of expected costs to retire long-lived assets from service, provided a legal obligation exists and a reasonable estimate of the fair value and the settlement date can be made. In the subsequent period, the liability is accreted to its future value while the asset retirement cost is depreciated over the estimated useful life of the underlying asset. The Utilities’ recognition of AROs have no impact on earnings, as the cost of the AROs are recovered over the life of the asset through depreciation. AROs recognized by the Utilities relate to legal obligations with the retirement of plant and equipment, including removal of asbestos and other hazardous materials. See “Asset retirement obligations” in Note 3. Bank (HEI only) Investment securities. Investments in debt securities are classified as held-to-maturity (HTM), trading or available-for-sale (AFS). ASB determines the appropriate classification at the time of purchase. Debt securities that ASB intends to and has the ability to hold to maturity are classified as HTM securities and reported at amortized cost. Marketable debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and reported at fair value, with unrealized gains and losses included in earnings. Marketable debt securities not classified as either HTM or trading securities are classified as AFS and reported at fair value. Unrealized gains and losses for AFS securities are excluded from earnings and reported on a net basis in accumulated other comprehensive income (AOCI) until realized. Transfers of debt securities from the available-for-sale classification to the held-to-maturity classification are made at fair value at the date of transfer. The unrealized holding gain or loss at the date of transfer remains in AOCI and in the carrying value of the held-to-maturity investment security. Unrealized holding gains or losses that remain in AOCI are amortized or accreted over the expected life of the security as an adjustment of yield, offsetting the related amortization of the premium or accretion of the discount. Interest income is recorded on an accrual basis. Discounts and premiums on securities are accreted or amortized into interest income using the interest method over the remaining contractual lives of the agency obligation securities and the estimated lives of the mortgage-backed securities adjusted for anticipated prepayments. ASB uses actual prepayment experience and estimates of future prepayments to determine the constant effective yield necessary to apply the interest method of income recognition. The discounts and premiums on the agency obligations portfolio are accreted or amortized on a prospective basis using expected contractual cash flows. The discounts and premiums on the mortgage-backed securities portfolio are accreted or amortized on a retrospective basis using changes in anticipated prepayments. This method requires a retrospective adjustment of the effective yield each time ASB changes the estimated life as if the new estimate had been known since the original acquisition date of the securities. Estimates of future prepayments are based on the underlying collateral characteristics and historic or projected prepayment behavior of each security. The specific identification method is used in determining realized gains and losses on the sales of securities. AFS debt securities with unrealized losses are reviewed quarterly. ASB will first assess whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criteria is met, the security’s amortized cost basis is written down to fair value through income. For AFS securities that do not meet the aforementioned criteria, ASB evaluates whether the decline in fair value is the result of a credit loss or other factors. The determination of whether or not a credit loss exists is based on consideration of the cash flows expected to be collected from the debt security. ASB develops these expectations after considering various factors such as agency ratings, the financial condition of the issuer, payment history, payment structure of the security, industry and market conditions, underlying collateral and other factors which may be relevant based on the facts and circumstances pertaining to individual securities. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. Changes in the allowance for credit losses are recorded as a provision for (or reversal of) credit losses. Losses are charged against the allowance when management believes the uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met. As of December 31, 2022, 2021 and 2020, there was no indicated impairment as ASB expects to collect the contractual cash flows for these investments. Held-to-maturity debt securities are assessed periodically to determine if a valuation allowance is necessary to absorb credit losses expected to occur over the remaining contractual life of the securities. The carrying amount of held-to-maturity debt securities is presented net of the valuation allowance for credit losses when such an allowance is deemed necessary. Stock in FHLB is carried at cost and is reviewed at least quarterly for impairment, with valuation adjustments recognized in noninterest income. Loans . ASB carries loans at amortized cost less the allowance for credit losses, loan origination fees (net of direct loan origination costs), commitment fees and purchase premiums and discounts. Interest on loans is credited to income as it is earned. Discounts and premiums are accreted or amortized over the life of the loans using the interest method. Loan origination fees (net of direct loan origination costs) are deferred and recognized as an adjustment in yield over periods not exceeding the contractual life of the loan using the interest method or taken into income when the loan is paid off or sold. Nonrefundable commitment fees (net of direct loan origination costs, if applicable) received for commitments to originate or purchase loans are deferred and, if the commitment is exercised, recognized as an adjustment of yield over the life of the loan using the interest method. Nonrefundable commitment fees received for which the commitment expires unexercised are recognized as income upon expiration of the commitment. Loans held for sale are stated at the lower of cost or estimated fair value on an aggregate basis. Premiums, discounts and net deferred loan fees are not amortized while a loan is classified as held for sale. A sale is recognized only when the consideration received is other than beneficial interests in the assets sold and control over the assets is transferred irrevocably to the buyer. Gains or losses on sales of loans are recognized at the time of sale and are determined by the difference between the net sales proceeds and the allocated basis of the loans sold. Allowance for credit losses. The allowance for credit losses (ACL) represents management’s estimate of expected credit losses over the expected contractual life of the related loans as of the balance sheet date. Contractual terms are adjusted for expected prepayments but are not extended for expected extensions, renewals or modifications except in circumstances where ASB reasonably expects to execute a troubled debt restructuring with the borrower or where certain extension or renewal options are embedded in the original contract and not unconditionally cancellable by the Bank. Accrued interest receivables on loans are presented in the Consolidated Financial Statements as a component of other assets. When accrued interest is deemed to be uncollectible (typically when a loan is placed on nonaccrual status), interest income is reversed against interest income on loans. ASB follows established policies for placing loans on nonaccrual status, so uncollectible accrued interest receivable is reversed in a timely manner. As a result, the Bank has elected not to measure an allowance for credit losses for accrued interest receivables. Credit losses are charged and recoveries are credited to the ACL. The ACL is maintained at a level the Bank considers to be adequate and is based on ongoing assessments and evaluations of the collectability of loans. The Bank’s expected credit loss models consider historical credit loss experience, current market and economic conditions, and forecasted changes in market and economic conditions if such forecasts are considered reasonable and supportable. Generally, the Bank considers its forecasts to be reasonable and supportable for a period of up to a year from the estimation date. For periods beyond the reasonable and supportable forecast period, expected credit losses are estimated by reverting to historical loss information without adjustment for changes in economic conditions. The Bank evaluates the length of its reasonable and supportable forecast period, its reversion period and reversion methodology at least annually, or more often if warranted by economic conditions or other circumstances. The Bank’s methodology for determining the ACL includes an estimate of expected credit losses on a collective basis for groups of loans with similar risk characteristics and specific allowances for loans which are individually evaluated. ASB disaggregates its portfolio loans into portfolio segments for purposes of determining the allowance for credit losses. Commercial, commercial real estate, and commercial construction loans are defined as non-homogeneous loans and ASB utilizes a risk rating system for evaluating the credit quality of the loans. Non-homogeneous loans are also categorized into the regulatory asset quality classifications—Pass, Special Mention, Substandard, Doubtful, and Loss based on credit quality. ASB utilizes a numerical-based, risk rating “PD Model” that takes into consideration fiscal year-end financial information of the borrower and identified financial attributes including retained earnings, operating cash flows, interest coverage, liquidity and leverage that demonstrate a strong correlation with default to assign default probabilities at the borrower level. In addition, a loss given default (LGD) value is assigned to each loan to measure loss in the event of default based on loan specific features such as collateral that mitigates the amount of loss in the event of default. Residential, consumer and credit scored business loans are considered homogeneous loans, which are typically underwritten based on common, uniform standards. For the homogeneous portfolio, the quality of the loan is best indicated by the repayment performance of an individual borrower. ASB supplements performance data with external credit bureau data and credit scores such as the Fair Isaac Corporation (FICO) score on a quarterly basis. ASB has built portfolio loss models for each major segment based on the combination of internal and external data to predict the probability of default at the loan level. The Bank also considers qualitative factors in determining the ACL. Qualitative factors are used to capture characteristics in the portfolio that impact expected credit losses but that are not fully captured within the Bank’s expected credit loss models. These include but are not limited to adjustments for changes in policies or procedures in underwriting, monitoring or collections, economic conditions, portfolio mix, lending and risk management personnel, results of internal audit and quality control reviews, collateral values and any concentrations of credit. The reserve for unfunded commitments is maintained at a level believed by management to cover expected losses related to unfunded credit facilities and is included in account

Segment financial information

Segment financial information	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment financial information	Note 2 · Segment financial information The electric utility and bank segments are strategic business units of the Company that offer different products and services and operate in different regulatory environments. The accounting policies of the segments are the same as those described for the Company in the summary of significant accounting policies, except as otherwise indicated and except that federal and state income taxes for each segment are calculated on a “stand-alone” basis. HEI evaluates segment performance based on net income. Each segment accounts for intersegment sales and transfers as if the sales and transfers were to third parties (i.e., at current market prices). Intersegment revenues consist primarily of Hamakua Energy electricity revenues, interest, rent and preferred stock dividends. Electric utility Hawaiian Electric and its wholly owned operating subsidiaries, Hawaii Electric Light and Maui Electric, are public electric utilities in the business of generating, purchasing, transmitting, distributing and selling electric energy on all major islands in Hawaii other than Kauai, and are regulated by the PUC. The utility subsidiaries are aggregated within the electric utility segment because they: (1) are involved in the business of supplying electric energy in the same geographical location (i.e., the State of Hawaii), (2) have similar production processes that comprise electric generation, (3) serve similar customers within their franchise territories (e.g., residential, commercial and industrial customers), (4) use similar electric grids to distribute the energy to their customers, (5) are regulated by the PUC and undergo similar rate-making processes, (6) have similar economic characteristics and (7) perform financial reporting oversight and management of the business at the consolidated level. Bank ASB is a federally chartered savings bank that provides a full range of banking services to individual and business customers through its branch system in Hawaii. ASB is subject to examination and comprehensive regulation by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), and is subject to reserve requirements established by the Board of Governors of the Federal Reserve System. Other “Other” includes amounts for the holding companies (HEI and ASB Hawaii), Pacific Current and its subsidiaries, and other inactive subsidiaries not qualifying as reportable segments, and intercompany eliminations. Pacific Current. Pacific Current was formed in 2017 to focus on investing in non-regulated renewable energy and sustainable infrastructure in the State of Hawaii to help achieve the state’s sustainability goals. Significant investments of Pacific Current made through its subsidiaries, Hamakua Energy, Mauo, Kaʻieʻie Waho, and Mahipapa include: Hamakua power plant . In 2017, Hamakua Energy acquired Hamakua Energy Partners, L.P.’s 60-MW combined cycle power plant and other assets from affiliates of ArcLight Capital Partners, a private equity firm. The plant sells all the power it produces to Hawaii Electric Light under an existing power purchase agreement (PPA) that expires in 2030. Solar-plus-storage power purchase agreement . In 2018, Mauo executed definitive agreements to acquire a solar-plus-storage PPA for a multi-site, commercial-scale project that provides 8.1 MW of solar capacity and 42.6 megawatt-hours (MWh) of storage capacity on the islands of Maui and Oahu. The PPA has a 15-year term with a customer option to extend for an additional five years. 6-MW photovoltaic system . In September 2020, Kaʻieʻie Waho acquired a 6-MW photovoltaic system situated on 20 acres of land on the island of Kauai. Kauai Island Utility Cooperative purchases all of the power generated by the system under a PPA that expires in 2033. 7.5-MW renewable, firm dispatchable closed-loop biomass-to-energy facility . In July 2022, Mahipapa acquired a 7.5-MW renewable, firm dispatchable closed-loop biomass-to-energy facility on Kauai. Kauai Island Utility Cooperative purchases all of the power generated by the system under a PPA that expires in 2035. Segment financial information was as follows: (in thousands) Electric utility Bank Other Total 2022 Revenues from external customers $ 3,408,583 $ 321,068 $ 12,334 $ 3,741,985 Intersegment revenues (eliminations) 4 — (4) — Revenues 3,408,587 321,068 12,330 3,741,985 Depreciation and amortization 260,744 24,436 9,661 294,841 Interest expense, net 76,416 13,301 26,986 116,703 Income (loss) before income taxes 240,600 102,241 (38,646) 304,195 Income taxes (benefit) 49,676 22,252 (10,761) 61,167 Net income (loss) 190,924 79,989 (27,885) 243,028 Preferred stock dividends of subsidiaries 1,995 — (105) 1,890 Net income (loss) for common stock 188,929 79,989 (27,780) 241,138 Capital expenditures 1 329,457 4,704 9,876 344,037 Assets (at December 31, 2022) 6,597,467 9,545,970 140,807 16,284,244 2021 Revenues from external customers $ 2,539,589 $ 306,398 $ 4,392 $ 2,850,379 Intersegment revenues (eliminations) 47 — (47) — Revenues 2,539,636 306,398 4,345 2,850,379 Depreciation and amortization 251,206 21,124 6,372 278,702 Interest expense, net 72,447 5,040 21,916 99,403 Income (loss) before income taxes 223,785 130,559 (43,481) 310,863 Income taxes (benefit) 44,148 29,325 (10,666) 62,807 Net income (loss) 179,637 101,234 (32,815) 248,056 Preferred stock dividends of subsidiaries 1,995 — (105) 1,890 Net income (loss) for common stock 177,642 101,234 (32,710) 246,166 Capital expenditures 1 292,000 11,131 11,393 314,524 Assets (at December 31, 2021) 6,491,625 9,181,603 149,409 15,822,637 2020 Revenues from external customers $ 2,265,281 $ 313,511 $ 983 $ 2,579,775 Intersegment revenues (eliminations) 39 — (39) — Revenues 2,265,320 313,511 944 2,579,775 Depreciation and amortization 256,479 29,349 4,950 290,778 Interest expense, net 67,794 11,114 20,900 99,808 Income (loss) before income taxes 211,753 69,271 (40,400) 240,624 Income taxes (benefit) 40,418 11,688 (11,196) 40,910 Net income (loss) 171,335 57,583 (29,204) 199,714 Preferred stock dividends of subsidiaries 1,995 — (105) 1,890 Net income (loss) for common stock 169,340 57,583 (29,099) 197,824 Capital expenditures 1 350,864 12,203 20,828 383,895 Assets (at December 31, 2020) 6,457,373 8,396,533 150,101 15,004,007 1 Contributions in aid of construction balances are included in capital expenditures. 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 ’s sales to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation.

Electric utility segment

Electric utility segment	12 Months Ended
	Dec. 31, 2022
Electric Utility Subsidiary [Abstract]
Electric utility segment	Note 3 · Electric utility segment Regulatory assets and liabilities. Regulatory assets represent deferred costs and accrued decoupling revenues which are expected to be recovered through rates over PUC-authorized periods. Generally, the Utilities do not earn a return on their regulatory assets; however, they have been allowed to recover interest on certain regulatory assets and to include certain regulatory assets in rate base. Regulatory liabilities represent amounts included in rates and collected from ratepayers for costs expected to be incurred in the future, or amounts collected in excess of costs incurred that are refundable to customers. For example, the regulatory liability for cost of removal in excess of salvage value represents amounts that have been collected from ratepayers for costs that are expected to be incurred in the future to retire utility plant. Generally, the Utilities include regulatory liabilities in rate base or are required to apply interest to certain regulatory liabilities. In the table below, noted in parentheses are the original PUC authorized amortization or recovery periods and, if different, the remaining amortization or recovery periods as of December 31, 2022 are noted. Regulatory assets were as follows: December 31 2022 2021 (in thousands) Retirement benefit plans (balance primarily varies with plans’ funded statuses) $ 69,919 $ 351,070 Income taxes (3-37 years) 82,583 88,087 Decoupling revenue balancing account and RAM (1-2 years) 14,290 31,607 Unamortized expense and premiums on retired debt and equity issuances (1-28 years; 1-28 years remaining) 5,967 7,300 Vacation earned, but not yet taken (1 year) 14,109 14,255 COVID-19 related costs (to be determined by PUC) 11,403 27,839 ECRC/PPAC (1 year) 20,369 21,386 Other (1-37 years remaining) 23,873 23,999 Total regulatory assets $ 242,513 $ 565,543 Included in: Current assets $ 52,273 $ 66,664 Long-term assets 190,240 498,879 Total regulatory assets $ 242,513 $ 565,543 Regulatory liabilities were as follows: December 31 2022 2021 (in thousands) Cost of removal in excess of salvage value (1-79 years) $ 577,985 $ 562,514 Income taxes (3-37 years) 316,947 337,304 Decoupling revenue balancing account and RAM (1-2 years) 10,426 251 Retirement benefit plans (balance primarily varies with plans’ funded statuses) 81,950 51,734 Solar tax credits (1-19 years) 50,240 27,123 Other (1-3 years remaining) 18,102 17,842 Total regulatory liabilities $ 1,055,650 $ 996,768 Included in: Current liabilities $ 31,475 $ 29,760 Long-term liabilities 1,024,175 967,008 Total regulatory liabilities $ 1,055,650 $ 996,768 The regulatory asset and liability relating to retirement benefit plans was recorded as a result of pension and OPEB tracking mechanisms adopted by the PUC in rate case decisions for the Utilities in 2007 (see Note 10). Major customers. The Utilities received 12% ($393 million), 11% ($267 million) and 11% ($249 million) of their operating revenues from the sale of electricity to various federal government agencies in 2022, 2021 and 2020, respectively. Cumulative preferred stock. The following series of cumulative preferred stock are redeemable only at the option of the respective company at the following prices in the event of voluntary liquidation or redemption: December 31, 2022 Voluntary Redemption Series C, D, E, H, J and K (Hawaiian Electric) $ 20 $ 21 I (Hawaiian Electric) 20 20 G (Hawaii Electric Light) 100 100 H (Maui Electric) 100 100 Hawaiian Electric is obligated to make dividend, redemption and liquidation payments on the preferred stock of each of its subsidiaries if the respective subsidiary is unable to make such payments, but this obligation is subordinated to Hawaiian Electric’s obligation to make payments on its own preferred stock. Related-party transactions. HEI charged the Utilities $5.6 million, $5.2 million and $5.6 million for general management and administrative services in 2022, 2021 and 2020, respectively. The amounts charged by HEI to its subsidiaries for services provided by HEI employees are allocated primarily on the basis of time expended in providing such services. In 2022, 2021 and 2020, Hamakua Energy (an indirect subsidiary of HEI) sold energy and capacity to Hawaii Electric Light (subsidiary of Hawaiian Electric and indirect subsidiary of HEI) under a PPA in the amount of $66 million, $53 million and $50 million, respectively. Hawaiian Electric’s short-term borrowings from HEI totaled nil at December 31, 2022 and 2021. Borrowings among the Utilities are eliminated in consolidation. Interest charged by HEI to Hawaiian Electric was not material for the years ended December 31, 2022 and 2021. Unconsolidated variable interest entities. Power purchase agreements . As of December 31, 2022, the Utilities had four PPAs for firm capacity and other PPAs with independent power producers (IPPs) and Schedule Q providers (i.e., customers with cogeneration and/or power production facilities who buy power from or sell power to the Utilities), none of which are currently required to be consolidated as VIEs. Pursuant to the current accounting standards for VIEs, the Utilities are deemed to have a variable interest in Kalaeloa Partners, L.P. (Kalaeloa) and Hamakua Energy by reason of the provisions of the PPA that the Utilities have with the two IPPs. However, management has concluded that the Utilities are not the primary beneficiary of Kalaeloa and Hamakua Energy because the Utilities do not have the power to direct the activities that most significantly impact the two IPPs’ economic performance nor the obligation to absorb their expected losses, if any, that could potentially be significant to the IPPs. Thus, the Utilities have not consolidated Kalaeloa and Hamakua Energy in its consolidated financial statements. However, Hamakua Energy is an indirect subsidiary of Pacific Current, and is consolidated in HEI’s consolidated financial statements. For the other PPAs with IPPs, the Utilities have concluded that the consolidation of the IPPs was not required because either the Utilities do not have variable interests in the IPPs due to the absence of an obligation in the PPAs for the Utilities to absorb any variability of the IPPs, or the IPP was considered a “governmental organization,” and thus excluded from the scope of accounting standards for VIEs. The consolidation of any significant IPP could have a material effect on the consolidated financial statements, including the recognition of a significant amount of assets and liabilities and, if such a consolidated IPP were operating at a loss and had insufficient equity, the potential recognition of such losses. If the Utilities determine they are required to consolidate the financial statements of such an IPP and the consolidation has a material effect, the Utilities would retrospectively apply accounting standards for VIEs to the IPP. Commitments and contingencies. Contingencies . The Utilities are subject in the normal course of business to legal, regulatory and environmental 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. The Utilities record loss contingencies when the outcome of such proceedings is probable and when the amount of the loss is reasonably estimable. The Utilities also evaluate, on a continuous basis, whether developments in such proceedings could cause these assessments or estimates to change. Assessment regarding future events is required when evaluating whether a loss is probable or reasonably possible, and as to whether such loss or a range of such loss is estimable. Management is often unable to estimate a reasonably possible loss, or a range of loss, particularly in cases in which: (i). the damages sought are indeterminate or the basis for the damages claimed is not clear; (ii) proceedings are in early stages; (iii) discovery is not complete; (iv) the matters involve novel or unsettled legal theories; (v) significant facts are in dispute; (vi) a large number of parties are represented (including circumstances in which it is uncertain how liability, if any, would be shared among multiple defendants); (vii) a lower court or administrative agency’s decision or ruling has been appealed, and/or (vii) a wide range of potential outcomes exist. In such cases, there may be considerable uncertainty regarding the timing or ultimate resolution, including any possible loss, fine, penalty, or business impact. Power purchase agreements . Purchases from all IPPs were as follows: Years ended December 31 2022 2021 2020 (in millions) Kalaeloa $ 342 $ 204 $ 149 AES Hawaii 82 130 133 HPOWER 73 70 70 Hamakua Energy 66 53 50 Puna Geothermal Venture 48 29 1 Wind IPPs 119 124 105 Solar IPPs 57 50 57 Other IPPs 1 7 10 4 Total IPPs $ 794 $ 670 $ 569 1 Includes hydro power and other PPAs As of December 31, 2022, the Utilities had four firm capacity PPAs for a total of 362.2 megawatts (MW) of firm capacity. The PGV facility with 34.6 MW of firm capacity went offline in May 2018 due to lava flow on Hawaii Island, but returned to service with firm capacity in the first quarter of 2021, ramped up to 25.7 MW in the second quarter of 2022 and continued to provide 25.7 MW for the remainder of 2022. The PUC allows rate recovery for energy and firm capacity payments to IPPs under these agreements. Assuming that each of the agreements remains in place for its current term (and as amended) and the minimum availability criteria in the PPAs are met, aggregate minimum fixed capacity charges are expected to be approximately $74 million each year in 2023 through 2027, and $365 million from 2028 through 2033. In general, the Utilities base their payments under the PPAs upon available capacity and actual energy supplied and they are generally not required to make payments for capacity if the contracted capacity is not available, and payments are reduced, under certain conditions, if available capacity drops below contracted levels. In general, the payment rates for capacity have been predetermined for the terms of the agreements. Energy payments will vary over the terms of the agreements. The Utilities pass on changes in the fuel component of the energy charges to customers through the ECRC in their rate schedules. The Utilities do not operate, or participate in the operation of, any of the facilities that provide power under the agreements. Title to the facilities does not pass to Hawaiian Electric or its subsidiaries upon expiration of the agreements, and the agreements do not contain bargain purchase options for the facilities. Purchase power adjustment clause. The PUC has approved PPACs for the Utilities. Purchased power capacity, operation and maintenance (O&M) and other non-energy costs previously recovered through base rates are now recovered in the PPACs and, subject to approval by the PUC, such costs resulting from new purchased power agreements can be added to the PPACs outside of a rate case. Purchased energy costs continue to be recovered through the ECRC. Kalaeloa Partners, L.P. Under a 1988 PPA, as amended, Hawaiian Electric is committed to purchase 208 MW of firm capacity from Kalaeloa. In October 2021, Hawaiian Electric and Kalaeloa signed the Amended and Restated Power Purchase Agreement for Firm Dispatchable Capacity and Energy (Amended and Restated PPA) to extend the PPA for an additional term of 10 years. The Amended and Restated PPA was approved by the PUC on November 23, 2022, and took effect on January 1, 2023. The price of purchases from Kalaeloa in 2022 have increased 68% over 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. The term of the PPA expired on September 1, 2022 and the AES Hawaii coal plant ceased operations. Stage 1 Renewable PPAs. In February 2018, the Utilities issued their Stage 1 renewable request for proposals and have procured eight renewable PPAs with a total of 274.5 MW capacity. The total annual payments to be made by the Utilities under the eight renewable PPAs are estimated at $64.7 million. The Utilities have received PUC approvals to recover the total projected annual payments under the eight renewable PPAs through the PPAC to the extent such costs are not included in base rates. On July 31, 2022, Mililani I Solar, the first utility-scale solar-plus-storage project on Oahu, reached commercial operations. On January 11, 2023, Waiawa Solar project on Oahu also reached commercial operations. The two projects are 75MW, including 300 MWh batteries, and the both PPA for the project have a 20-year term. The Utilities have accounted for the battery portion of the PPAs as finance leases. (See Note 8 for lease discussions.) 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. Opening briefs were filed with the Supreme Court on October 5, 2022. Answering briefs were filed on December 5, 2022, and reply briefs were filed on December 28, 2022. The Supreme Court heard oral arguments on January 31, 2023. Molokai New Energy Partners (MNEP). In July 2018, the PUC approved Maui Electric’s PPA with MNEP to purchase solar energy from a photovoltaic (PV) plus battery storage project. The 4.88 MW PV and 3 MW Battery Energy Storage System project was to deliver no more than 2.64 MW at any time to the Molokai system. On March 25, 2020, MNEP filed a complaint in the United Stated District Court for the District of Hawaii against Maui Electric claiming breach of contract. On June 3, 2020, Maui Electric provided a Notice of Default and Termination of the PPA to MNEP terminating the PPA with an effective date of July 10, 2020. Thereafter, MNEP filed an amended complaint to include claims relating to the termination and Hawaiian Electric filed its answer to the amended complaint on September 11, 2020, disputing the facts presented by MNEP and all claims within the original and amended complaint. Currently, the discovery phase is ongoing. Fuels barging contract . On August 23, 2021, the Utilities entered into a five-year inter-island fuel transportation contract with Sause Bros., Inc., which commenced in January 2022. On September 22, 2022, the PUC issued a decision and order (D&O) approving the inter-island fuels transportation contract and recovery of associated costs through ECRC. 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 December 31, 2022, the Utilities’ regulatory liability was $10.5 million ($4.0 million for Hawaiian Electric, $2.6 million for Hawaii Electric Light and $3.9 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, 2023 for the period January 1 through December 31, 2022. 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 Major Project Interim Recovery (MPIR) (See “Performance-based regulation framework” section below for MPIR guidelines and cost recovery discussion.) Project costs incurred as of December 31, 2022 amounted to $60.5 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. The Waena Switchyard project is expected to be placed in service in the third quarter of 2023, while the conversion of the two generating units will be performed after the retirement of Kahului Power Plant Units 3 and 4. 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 December 31, 2022, $13.2 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 DOH and EPA, Maui Electric further investigated the Site and the adjacent parcel to determine the extent of impacts of polychlorinated biphenyls (PCBs), residual fuel oils and other subsurface contaminants. Maui Electric has a reserve balance of $2.6 million as of December 31, 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 may be filed 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 December 31, 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 December 31, 2022, the reserve account balance recorded by Hawaiian Electric to address the PCB contamination was $9.9 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. Asset retirement obligations . Asset retirement obligations (AROs) represent legal obligations associated with the retirement of certain tangible long-lived assets, are measured as the present value of the projected costs for the future retirement of specific assets and are recognized in the period in which the liability is incurred if a reasonable estimate of fair value can be made. The Utilities’ recognition of AROs have no impact on their earnings. The cost of the AROs is recovered over the life of the asset through depreciation. AROs recognized by the Utilities relate to legal obligations associated with the retirement of plant and equipment, including removal of asbestos and other hazardous materials. The Utilities recorded AROs related to: 1) the removal of retired generating units, certain types of transformers and underground storage tanks; 2) the abandonment of fuel pipelines, underground injection and supply wells; and 3) the removal of equipment and restoration of leased land used in connection with Utility-owned renewable and dispatchable generation facilities. Changes to the ARO liability included in “Other liabilities” on Hawaiian Electric’s balance sheet were as follows: (in thousands) 2022 2021 Balance, January 1 $ 11,110 $ 10,692 Accretion expense 442 423 Liabilities incurred — — Liabilities settled (4) (5) Balance, December 31 $ 11,548 $ 11,110 The Utilities have not recorded AROs for assets that are expected to operate indefinitely or where the Utilities cannot estimate a settlement date (or range of potential settlement dates). As such, ARO liabilities are not recorded for certain asset retirement activities, including various Utilities-owned generating facilities and certain electric transmission, distribution and telecommunications assets resulting from easements over property not owned by the Utilities. Regulatory proceedings . Decoupling . Decoupling is a regulatory model that is intended to provide the Utilities with financial stability and facilitate meeting the State of Hawaii’s goals to transition to a clean energy economy and achieve an aggressive renewable portfolio standard. Decoupling delinks the utility’s revenues from the utility’s sales, removing the disincentive to promote energy efficiency and accept more renewable energy. Decoupling continues under the PBR Framework. Performance-based regulation framework. On December 23, 2020, the PUC issued a decision and order (PBR D&O) establishing the PBR Framework to govern the Utilities. The PBR Framework incorporates an annual revenue adjustment (ARA) and a suite of new regulatory mechanisms in addition to previously established regulatory mechanisms. Under the PBR Framework, the decoupling mechanism (i.e., the Revenue Balancing Account (RBA)) established by the previous regulatory framework will continue. The existing cost recovery mechanisms will continue as currently implemented (e.g., the Energy Cost Recovery Clause, Purchased Power Adjustment Clause (PPAC), Demand-Side Management surcharge, Renewable Energy Infrastructure Program, Demand Response Adjustment Clause, Pension and Other Post-Employment Benefits (OPEB) tracking mechanisms). In addition to annual revenues provided by the ARA, the Utilities may seek relief for extraordinary projects or programs through the Exceptional Project Recovery Mechanism (EPRM) (formerly known as the Major Project Interim Recovery adjustment mechanism) and earn financial rewards for exemplary performance as provided through a portfolio of Performance Incentive Mechanisms (PIMs) and Shared Savings Mechanisms (SSMs). The PBR Framework incorporates a variety of additional performance mechanisms, including Scorecards, Reported Metrics, and an expedited Pilot Process. The PBR Framework also contains a number of safeguards, including a symmetric Earnings Sharing Mechanism (ESM) which protects the Utilities and customers from excessive earnings or losses, as measured by the Utilities’ achieved rate-making ROACE and a Re-Opener mechanism, under which the PUC will open an examination, at its discretion, to determine if adjustments or modifications to specific PBR mechanisms are appropriate. The PBR Framework became fully effective on June 1, 2021. On June 17, 2022, the PUC issued a decision and order (June 2022 D&O) establishing additional PIMs under the PBR Framework for the Utilities. 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. On November 23, 2022, the PUC approved the Utiliti

Bank segment (HEI only)

Bank segment (HEI only)	12 Months Ended
	Dec. 31, 2022
Bank Segment Disclosure [Abstract]
Bank segment (HEI only)	Note 4 · Bank segment (HEI only) Selected financial information American Savings Bank, F.S.B. Statements of Income and Comprehensive Income Data Years ended December 31 2022 2021 2020 (in thousands) Interest and dividend income Interest and fees on loans $ 207,830 $ 198,802 $ 214,134 Interest and dividends on investment securities 58,044 43,464 30,529 Total interest and dividend income 265,874 242,266 244,663 Interest expense Interest on deposit liabilities 7,327 4,981 10,654 Interest on other borrowings 5,974 59 460 Total interest expense 13,301 5,040 11,114 Net interest income 252,573 237,226 233,549 Provision for credit losses 2,037 (25,825) 50,811 Net interest income after provision for credit losses 250,536 263,051 182,738 Noninterest income Fees from other financial services 19,830 21,225 16,447 Fee income on deposit liabilities 18,762 16,663 16,059 Fee income on other financial products 10,291 8,770 6,381 Bank-owned life insurance 2,533 7,318 6,483 Mortgage banking income 1,692 9,305 23,734 Gain on sale of real estate 1,778 — — Gain on sale of investment securities, net — 528 9,275 Other income, net 2,086 851 (256) Total noninterest income 56,972 64,660 78,123 Noninterest expense Compensation and employee benefits 113,839 113,970 104,443 Occupancy 24,026 20,584 21,573 Data processing 17,681 17,634 14,769 Services 10,679 10,327 11,121 Equipment 10,100 9,510 9,001 Office supplies, printing and postage 4,398 4,239 4,623 Marketing 3,968 3,870 3,435 FDIC insurance 3,591 3,235 2,342 Other expense 1 16,985 13,783 20,283 Total noninterest expense 205,267 197,152 191,590 Income before income taxes 102,241 130,559 69,271 Income taxes 22,252 29,325 11,688 Net income 79,989 101,234 57,583 Other comprehensive income (loss), net of taxes (298,833) (52,728) 23,608 Comprehensive income (loss) $ (218,844) $ 48,506 $ 81,191 1 2020, included approximately $5.1 million of certain direct and incremental COVID-19 related costs, including $2.5 million of compensation expense and $2.0 million of enhanced cleaning and sanitation costs. Reconciliation to amounts per HEI Consolidated Statements of Income*: Years ended December 31 2022 2021 2020 (in thousands) Interest and dividend income $ 265,874 $ 242,266 $ 244,663 Noninterest income 56,972 64,660 78,123 Less: Gain on sale of real estate 1,778 — — Less: Gain on sale of investment securities, net — 528 9,275 *Revenues-Bank 321,068 306,398 313,511 Total interest expense 13,301 5,040 11,114 Provision for credit losses 2,037 (25,825) 50,811 Noninterest expense 205,267 197,152 191,590 Less: Retirement defined benefits expense (credit)—other than service costs (723) (1,828) 1,813 Add: Gain on sale of real estate 1,778 — — *Expenses-Bank 219,550 178,195 251,702 *Operating income-Bank 101,518 128,203 61,809 Add back: Retirement defined benefits expense (credit)—other than service costs (723) (1,828) 1,813 Add back: Gain on sale of investment securities, net — 528 9,275 Income before income taxes $ 102,241 $ 130,559 $ 69,271 Balance Sheets Data December 31 2022 2021 (in thousands) Assets Cash and due from banks $ 153,042 $ 100,051 Interest-bearing deposits 3,107 151,189 Cash and cash equivalents 156,149 251,240 Investment securities Available-for-sale, at fair value 1,429,667 2,574,618 Held-to-maturity, at amortized cost (fair value of $1,150,971 and $510,474 at December 31, 2022 and 2021, respectively) 1,251,747 522,270 Stock in Federal Home Loan Bank, at cost 26,560 10,000 Loans held for investment 5,978,906 5,211,114 Allowance for credit losses (72,216) (71,130) Net loans 5,906,690 5,139,984 Loans held for sale, at lower of cost or fair value 824 10,404 Other 692,143 590,897 Goodwill 82,190 82,190 Total assets $ 9,545,970 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities–noninterest-bearing $ 2,811,077 $ 2,976,632 Deposit liabilities–interest-bearing 5,358,619 5,195,580 Other borrowings 695,120 88,305 Other 212,269 193,268 Total liabilities 9,077,085 8,453,785 Commitments and contingencies Common stock 1 1 Additional paid in capital 355,806 353,895 Retained earnings 449,693 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (328,904) $ (32,037) Retirement benefit plans (7,711) (336,615) (5,745) (37,782) Total shareholder’s equity 468,885 727,818 Total liabilities and shareholder’s equity $ 9,545,970 $ 9,181,603 December 31 2022 2021 (in thousands) Other assets Bank-owned life insurance $ 182,986 $ 177,566 Premises and equipment, net 195,324 202,299 Accrued interest receivable 25,077 20,854 Mortgage servicing rights 9,047 9,950 Low-income housing investments 106,978 110,989 Deferred tax asset 116,441 7,699 Real estate acquired in settlement of loans, net 115 — Other 56,175 61,540 $ 692,143 $ 590,897 Other liabilities Accrued expenses $ 97,295 $ 87,905 Federal income taxes payable 863 — Cashier’s checks 36,401 33,675 Advance payments by borrowers 9,637 9,994 Other 68,073 61,694 $ 212,269 $ 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. Investment securities. The major components of investment securities were as follows: Gross unrealized losses Gross unrealized Gross unrealized Estimated fair value Less than 12 months 12 months or longer (dollars in thousands) Amortized Number of issues Fair value Amount Number of issues Fair value Amount December 31, 2022 Available-for-sale U.S. Treasury and federal agency obligations $ 88,344 $ — $ (7,281) $ 81,063 12 $ 41,201 $ (2,120) 4 $ 39,862 $ (5,161) Mortgage-backed securities* 1,530,582 — (237,614) 1,292,968 113 455,836 (56,999) 70 837,132 (180,615) Corporate bonds 44,377 — (3,643) 40,734 4 29,644 (2,028) 1 11,090 (1,615) Mortgage revenue bonds 14,902 — — 14,902 — — — — — — $ 1,678,205 $ — $ (248,538) $ 1,429,667 129 $ 526,681 $ (61,147) 75 $ 888,084 $ (187,391) Held-to-maturity U.S. Treasury and federal agency obligations $ 59,894 $ — $ (8,478) $ 51,416 1 $ 16,874 $ (3,222) 2 $ 34,542 $ (5,256) Mortgage-backed securities* 1,191,853 2,670 (94,968) 1,099,555 22 183,629 (10,593) 51 567,250 (84,375) $ 1,251,747 $ 2,670 $ (103,446) $ 1,150,971 23 $ 200,503 $ (13,815) 53 $ 601,792 $ (89,631) 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 as of December 31, 2022, represent a credit loss. Total gross unrealized losses were primarily attributable to change in market conditions. On a quarterly basis the investment securities are evaluated for changes in financial condition of the issuer. Based upon ASB’s evaluation, all securities held within the investment portfolio continue to be rated investment grade by one or more agencies. The contractual cash flows of the U.S. Treasury, federal agency obligations and agency mortgage-backed securities are backed by the full faith and credit guaranty of the United States government or an agency of the government. ASB does not intend to sell the securities before the recovery of its amortized cost basis and there have been no adverse changes in the timing of the contractual cash flows for the securities. ASB’s investment securities portfolio did not require an allowance for credit losses as of December 31, 2022. U.S. Treasury, federal agency obligations, corporate bonds, and mortgage revenue bonds have contractual terms to maturity. Mortgage-backed securities have contractual terms to maturity, but require periodic payments to reduce principal. In addition, expected maturities will differ from contractual maturities because borrowers have the right to prepay the underlying mortgages. The contractual maturities of investment securities were as follows: Amortized Fair December 31, 2022 Cost value (in thousands) Available-for-sale Due in one year or less $ 1,193 $ 1,171 Due after one year through five years 106,628 98,871 Due after five years through ten years 39,802 36,657 Due after ten years — — 147,623 136,699 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,530,582 1,292,968 Total available-for-sale securities $ 1,678,205 $ 1,429,667 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 59,894 51,416 Due after ten years — — 59,894 51,416 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,191,853 1,099,555 Total held-to-maturity securities $ 1,251,747 $ 1,150,971 The proceeds, gross gains and losses from sales of available-for-sale securities were as follows: Years ended December 31 2022 2021 2020 (in thousands) Proceeds $ — $ 197,354 $ 169,157 Gross gains — 975 9,275 Gross losses — (447) — Tax expense on realized gains — 142 2,486 Interest income from taxable and non-taxable investment securities were as follows: Years ended December 31 2022 2021 2020 (in thousands) Taxable $ 56,731 $ 42,534 $ 29,760 Non-taxable 1,313 930 769 $ 58,044 $ 43,464 $ 30,529 ASB pledged securities with a market value of approximately $929 million and $416 million as of December 31, 2022 and 2021, respectively, as collateral for public funds and other deposits, mortgage pipeline hedge margin, automated clearinghouse transactions, the Federal Reserve Bank of San Francisco discount window and bankruptcy account, and the Federal Home Loan Bank of Des Moines advance line. In addition, ASB pledged securities with a market value of $327 million and $161 million as of December 31, 2022 and 2021, respectively, as collateral for securities sold under agreements to repurchase. Transfer of available-for-sale securities to held-to-maturity . In October 2022, ASB transferred 66 available-for-sale investment securities with a fair value of $755 million to the held-to-maturity category. On the date of transfer, these securities had a total unrealized loss of $206 million. There was no impact to net income as a result of the transfer. These transfers were executed to mitigate the potential future impact to capital through accumulated other comprehensive loss and the impact of rising rates on the market value of the investment securities. ASB believes that it maintains sufficient liquidity for future business needs and it has the positive intent and ability to hold these securities to maturity. Stock in FHLB . As of December 31, 2022 and 2021, ASB’s stock in FHLB was carried at cost ($26.6 million and $10.0 million, respectively) because it can only be redeemed at par and it is a required investment based on measurements of ASB’s capital, assets and borrowing levels. Quarterly and as conditions warrant, ASB reviews its investment in the stock of the FHLB for impairment. ASB evaluated its investment in FHLB stock for credit losses as of December 31, 2022, consistent with its accounting policy. ASB did not recognize any credit losses for 2022, 2021 and 2020 based on its evaluation of the underlying investment. Future deterioration in the FHLB’s financial position and/or negative developments in any of the factors considered in ASB’s impairment evaluation may result in future impairment losses. Loans. The components of loans were summarized as follows: December 31 2022 2021 (in thousands) Real estate: Residential 1-4 family $ 2,479,637 $ 2,299,212 Commercial real estate 1,358,123 1,056,982 Home equity line of credit 1,002,905 835,663 Residential land 20,679 19,859 Commercial construction 88,489 91,080 Residential construction 20,788 11,138 Total real estate 4,970,621 4,313,934 Commercial 779,691 793,304 Consumer 254,709 113,966 Total loans 6,005,021 5,221,204 Less: Deferred fees and discounts (26,115) (10,090) Allowance for credit losses (72,216) (71,130) Total loans, net $ 5,906,690 $ 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. ASB services real estate loans for investors (principal balance of $1.5 billion, $1.5 billion and $1.5 billion as of December 31, 2022, 2021 and 2020, respectively), which are not included in the accompanying balance sheets data. ASB reports fees earned for servicing such loans as income when the related mortgage loan payments are collected and charges loan servicing cost to expense as incurred. As of December 31, 2022 and 2021, ASB had pledged loans with an amortized cost of approximately $3.0 billion and $2.8 billion, respectively, as collateral to secure advances from the FHLB. As of December 31, 2022 and 2021, the aggregate amount of loans to directors and executive officers of ASB and its affiliates and any related interests (as defined in Federal Reserve Board (FRB) Regulation O) of such individuals, was $10.7 million and $13.1 million, respectively. As of December 31, 2022 and 2021, there was a loan to a related interest of a director of ASB for $10.0 million. The loan was made at ASB’s normal credit terms. Allowance for credit losses. As discussed in Note 1, ASB must maintain an allowance for credit losses that is adequate to absorb estimated expected credit losses associated with its loan portfolio. The allowance for credit losses (balances and changes) and financing receivables by portfolio segment were as follows: (in thousands) Residential 1-4 family Commercial Home equity Residential land Commercial construction Residential construction Commercial Consumer Total December 31, 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 (13) — — — — — (563) (6,254) (6,830) Recoveries 79 — 71 104 — — 1,288 3,837 5,379 Net (charge-offs) recoveries 66 — 71 104 — — 725 (2,417) (1,451) Provision (341) (2,798) 397 (33) (991) 28 (4,097) 10,372 2,537 Ending balance $ 6,270 $ 21,898 $ 6,125 $ 717 $ 1,195 $ 46 $ 12,426 $ 23,539 $ 72,216 Average loans outstanding $ 2,331,473 $ 1,204,756 $ 918,563 $ 21,442 $ 90,021 $ 18,317 $ 710,658 $ 161,722 $ 5,456,952 Net charge-offs (recoveries) to average loans — % — % (0.01 %) (0.49 %) — % — % (0.10 %) 1.49 % 0.03 % December 31, 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 (67) — (45) — — — (1,561) (8,027) (9,700) Recoveries 92 — 113 61 — — 1,468 4,320 6,054 Net (charge-offs) recoveries 25 — 68 61 — — (93) (3,707) (3,646) Provision 1,920 (10,911) (1,224) (24) (1,963) 7 (9,571) (4,659) (26,425) Ending balance $ 6,545 $ 24,696 $ 5,657 $ 646 $ 2,186 $ 18 $ 15,798 $ 15,584 $ 71,130 Average loans outstanding $ 2,155,322 $ 1,046,276 $ 885,759 $ 18,227 $ 111,711 $ 11,361 $ 856,226 $ 135,609 $ 5,220,491 Net charge-offs (recoveries) to average loans — % — % (0.01 %) (0.33 %) — % — % 0.01 % 2.73 % 0.07 % December 31, 2020 Allowance for credit losses: Beginning balance, prior to adoption of ASU No. 2016-13 $ 2,380 $ 15,053 $ 6,922 $ 449 $ 2,097 $ 3 $ 10,245 $ 16,206 $ 53,355 Impact of adopting ASU No. 2016-13 2,150 208 (541) (64) 289 14 922 16,463 19,441 Charge-offs (7) — (77) (351) — — (5,819) (19,900) (26,154) Recoveries 394 — 63 38 — — 872 3,381 4,748 Net (charge-offs) recoveries 387 — (14) (313) — — (4,947) (16,519) (21,406) Provision (317) 20,346 446 537 1,763 (6) 19,242 7,800 49,811 Ending balance $ 4,600 $ 35,607 $ 6,813 $ 609 $ 4,149 $ 11 $ 25,462 $ 23,950 $ 101,201 Average loans outstanding $ 2,148,848 $ 861,096 $ 1,060,444 $ 13,799 $ 93,740 $ 10,703 $ 935,663 $ 215,994 $ 5,340,287 Net charge-offs (recoveries) to average loans (0.02) % — % — % 2.27 % — % — % 0.53 % 7.65 % 0.40 % Allowance for loan commitments. The allowance for loan commitments by portfolio segment were as follows: (in thousands) Home equity Commercial construction Commercial loans Total Year ended December 31, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,700 $ 800 $ 4,900 Provision — (1,100) 600 (500) Ending balance $ 400 $ 2,600 $ 1,400 $ 4,400 Year ended December 31, 2021 Allowance for loan commitments: Beginning balance $ 300 $ 3,000 $ 1,000 $ 4,300 Provision 100 700 (200) 600 Ending balance $ 400 $ 3,700 $ 800 $ 4,900 Year ended December 31, 2020 Allowance for loan commitments: Beginning balance, prior to adoption of ASU No. 2016-13 $ 392 $ 931 $ 418 $ 1,741 Impact of adopting ASU No. 2016-13 (92) 1,745 (94) 1,559 Provision — 324 676 1,000 Ending balance $ 300 $ 3,000 $ 1,000 $ 4,300 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 loans Converted to term loans Total December 31, 2022 Residential 1-4 family Current $ 432,707 $ 755,056 $ 423,455 $ 113,096 $ 51,860 $ 698,354 $ — $ — $ 2,474,528 30-59 days past due — — — — 448 1,098 — — 1,546 60-89 days past due — — 268 — — 90 — — 358 Greater than 89 days past due — — — — 809 2,396 — — 3,205 432,707 755,056 423,723 113,096 53,117 701,938 — — 2,479,637 Home equity line of credit Current — — — — — — 959,131 40,814 999,945 30-59 days past due — — — — — — 1,103 209 1,312 60-89 days past due — — — — — — 209 226 435 Greater than 89 days past due — — — — — — 587 626 1,213 — — — — — — 961,030 41,875 1,002,905 Residential land Current 5,245 9,010 5,222 203 522 477 — — 20,679 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 5,245 9,010 5,222 203 522 477 — — 20,679 Residential construction Current 7,986 11,624 1,178 — — — — — 20,788 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 7,986 11,624 1,178 — — — — — 20,788 Consumer Current 199,574 21,330 5,543 7,580 527 140 10,810 4,782 250,286 30-59 days past due 1,110 287 65 239 30 — 81 167 1,979 60-89 days past due 756 163 88 137 19 — 45 107 1,315 Greater than 89 days past due 621 105 37 176 28 — 20 142 1,129 202,061 21,885 5,733 8,132 604 140 10,956 5,198 254,709 Commercial real estate Pass 390,206 177,130 283,321 51,542 63,084 278,280 8,235 — 1,251,798 Special Mention — 11,250 3,446 40,423 — 24,466 — — 79,585 Substandard — — 665 11,357 — 14,718 — — 26,740 Doubtful — — — — — — — — — 390,206 188,380 287,432 103,322 63,084 317,464 8,235 — 1,358,123 Commercial construction Pass 15,094 47,478 44 — — — 25,873 — 88,489 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 15,094 47,478 44 — — — 25,873 — 88,489 Commercial Pass 239,852 185,013 85,220 68,161 46,142 53,192 60,871 13,964 752,415 Special Mention — — — 2,374 — 645 9,005 8 12,032 Substandard 3,322 2,305 401 1,304 1,346 3,849 1,664 1,053 15,244 Doubtful — — — — — — — — — 243,174 187,318 85,621 71,839 47,488 57,686 71,540 15,025 779,691 Total loans $ 1,296,473 $ 1,220,751 $ 808,953 $ 296,592 $ 164,815 $ 1,077,705 $ 1,077,634 $ 62,098 $ 6,005,021 Term loans by origination year Revolving loans (in thousands) 2021 2020 2019 2018 2017 Prior Revolving loans 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 2022 in the commercial, home equity line of credit and consumer portfolios were $1.9 million, $15.6 million and $3.5 million, respectively. The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 60-89 Greater Total Current Total Recorded December 31, 2022 Real estate: Residential 1-4 family $ 1,546 $ 358 $ 3,205 $ 5,109 $ 2,474,528 $ 2,479,637 $ — Commercial real estate 508 217 — 725 1,357,398 1,358,123 — Home equity line of credit 1,312 435 1,213 2,960 999,945 1,002,905 — Residential land — — — — 20,679 20,679 — Commercial construction — — — — 88,489 88,489 — Residential construction — — — — 20,788 20,788 — Commercial 614 18 77 709 778,982 779,691 — Consumer 1,979 1,315 1,129 4,423 250,286 254,709 — Total loans $ 5,959 $ 2,343 $ 5,624 $ 13,926 $ 5,991,095 $ 6,005,021 $ — 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: December 31, 2022 December 31, 2021 (in thousands) With a related Without a Total With a related Without a Total Real estate: Residential 1-4 family $ 4,198 $ 2,981 $ 7,179 $ 16,045 $ 3,703 $ 19,748 Commercial real estate — — — 14,104 1,221 15,325 Home equity line of credit 3,654 1,442 5,096 4,227 1,294 5,521 Residential land 420 — 420 97 300 397 Commercial construction — — — — — — Residential construction — — — — — — Commercial 2,183 — 2,183 1,446 692 2,138 Consumer 1,588 — 1,588 1,845 — 1,845 Total $ 12,043 $ 4,423 $ 16,466 $ 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) December 31, 2022 December 31, 2021 Real estate: Residential 1-4 family $ 8,821 $ 6,949 Commercial real estate 9,477 3,055 Home equity line of credit 4,404 6,021 Residential land 782 980 Commercial construction — — Residential construction — — Commercial 6,596 7,860 Consumer 50 52 Total troubled debt restructured loans accruing interest $ 30,130 $ 24,917 ASB did not recognize interest on nonaccrual loans for 2022, 2021 and 2020. 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. When a borrower experiencing financial difficulty fails to make a required payment on a loan or is in imminent default, ASB takes a number of steps to improve the collectability of the loan and maximize the likelihood of full repayment. At times, ASB may modify or restructure a loan to help a distressed borrower improve its financial position to eventually be able to fully repay the loan, provided the borrower has demonstrated both the willingness and the ability to fulfill the modified terms. TDR loans are considered an alternative to foreclosure or liquidation with the goal of minimizing losses to ASB and maximizing recovery. ASB may consider various types of concessions in granting a TDR including maturity date extensions, extended amortization of principal, temporary deferral of principal payments, and temporary interest rate reductions. ASB rarely grants principal forgiveness in its TDR modifications. Residential loan modifications generally involve interest rate reduction, extending the amortization period, or capitalizing certain delinquent amounts owed not to exceed the original loan balance. Land loans at origination are typically structured as a three-year term, interest-only monthly payment with a balloon payment due at maturity. Land loan TDR modifications typically involve extending the maturity date up to three years and converting the payments from interest-only to principal and interest monthly, at the same or higher interest rate. Commercial loan modifications generally involve extensions of maturity dates, extending the interest only or amortization period, and temporary deferral or reduction of principal payments. ASB generally does not reduce the interest rate on commercial loan TDR modifications. Occasionally, additional collateral and/or guaranties are obtained. 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. Loan modifications that occurred during 2022, 2021, and 2020 were as follows: (dollars in thousands) Number of contracts Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Year ended December 31, 2022 Real estate: Residential 1-4 family 5 $ 1,475 $ 164 Commercial real estate — — — Home equity line of credit — — — Residential land 1 203 42 Commercial construction — — — Residential construction — — — Commercial 3 2,634 497 Consumer — — — 9 $ 4,312 $ 703 Year ended December 31, 2021 Real estate: Residential 1-4 family 14 $ 8,379 $ 442 Commercial real estate — — — Home equity line of credit — — — Residential land 3 799 38 Commercial construction — — — Residential construction — — — Commercial 7 2,931 205 Consumer — — — 24 $ 12,109 $ 685 Year ended December 31, 2020 Real estate: Residential 1-4 family 1 $ 144 $ 6 Commercial real estate 6 20,714 4,439 Home equity line of credit 3 85 11 Residential land 4 668 54 Commercial construction — — — Residential construction — — — Commercial 54 5,380 869 Consumer — — — 68 $ 26,991 $ 5,379 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. Loans modified in TDRs that experienced a payment default of 90 days or more in 2022, 2021, and 2020 and for which the payment default occurred within one year of the modification, were as follows: Years ended December 31 2022 2021 2020 (dollars in thousands) Number of Recorded Number of Recorded Number of Recorded Troubled debt restructurings that subsequently defaulted Real estate: Residential 1-4 family — $ — 1 $ 474 — $ — Commercial real estate — — — — — — Home equity line of credit — — — — — — Residential land — — — — — — Commercial construction — — — — — — Residential construction — — — — — — Commercial — — 1 9 — — Consumer — — — — — — — $ — 2 $ 483 — $ — If a loan modified in a TDR subsequently defaults, ASB evaluates the loan for further impairment. Based on its evaluation, adjustments may be made in the allocation of the allowance or partial charge-offs may be taken to further write-down the carrying value of the loan. Commitments to lend additional funds to borrowers whose loan terms have been modified in a TDR totaled nil at December 31, 2022 and 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

Short-term borrowings

Short-term borrowings	12 Months Ended
	Dec. 31, 2022
Short-Term Debt [Abstract]
Short-term borrowings	Note 5 · Short-term borrowings Commercial paper and bank term loan. As of December 31, 2022 and 2021, HEI had $50 million and $54 million of commercial paper outstanding, respectively. The weighted-average interest rate of HEI’s outstanding commercial paper, as of December 31, 2022 and 2021 was 5.19% and 0.55%, respectively. As of December 31, 2022 and 2021, Hawaiian Electric had $88 million and no commercial paper outstanding, respectively. The weighted-average interest rate of Hawaiian Electric’s outstanding commercial paper as of December 31, 2022 was 4.8%. As of December 31, 2022, HEI had five letters of credit outstanding in the aggregate amount of $8 million on behalf of Mauo and Hamakua Energy. As of December 31, 2021, HEI had five letters of credit outstanding in the aggregate amount of $10 million, on behalf of Mauo and Hamakua Energy. HEI Term Loan . On October 20, 2022, HEI executed a $100 million term loan credit agreement with two financial institutions. The term loan facility allows HEI to draw down proceeds on a delayed basis through March 31, 2023, at which time the term loan commitment expires. Borrowings under the facility bear interest at Term Secured Overnight Financing Rate (SOFR), as defined in the agreement, plus an applicable margin and a SOFR spread adjustment. On December 28, 2022, HEI drew an initial $35 million SOFR term loan at an initial interest of 5.32% for an initial one month interest period. Any borrowings under the facility mature on November 30, 2023. The term loan facility contains certain restrictive financial covenants that are substantially the same as the financial covenants contained in HEI’s revolving unsecured credit facility, as amended. Credit agreements. 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 the $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 December 31, 2022 and 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. Under the Credit Facilities, draws generally bear interest, based on each company’s respective current long-term credit ratings, at the “Adjusted LIBO Rate,” as defined in the Credit Facilities, plus 137.5 and 125.0 basis points for HEI and Hawaiian Electric, respectively, and incur annual fees on undrawn commitments, excluding swingline borrowings, at the rate of 20.0 and 17.5 basis points for HEI and Hawaiian Electric, respectively. The Credit Facilities also include provisions to accommodate a transition from the London Interbank Offered Rate (LIBOR) to an alternative reference rate, based on the secured overnight financing rate administered by the Federal Reserve Bank of New York, upon the phase out of LIBOR as a reference rate. Additionally, the Credit Facilities contain provisions for pricing adjustments in the event of a long-term ratings change based on the respective Facility’s ratings-based pricing grid, which includes the ratings by Fitch, Moody’s and S&P. The Credit Facilities do not contain clauses that would affect access to the Credit Facilities by reason of a ratings downgrade, nor do they have broad “material adverse change” clauses. In addition, the Credit Facilities contain provisions for potential annual pricing adjustments to the Eurodollar or Alternate Base Rate margin on draws and fees on undrawn commitments of up to +/-5 basis points and +/-1 basis point, respectively, based on performance against certain sustainability-linked metrics. The sustainability-linked metrics include achievement of renewable portfolio standards in excess of statutory requirements and increasing cumulative penetration of installed MWs of photovoltaic systems on residential rooftops. The Credit Facilities also include updated terms and conditions customary for facilities of this type and contain customary conditions that must be met in order to draw on them, including compliance with covenants (such as covenants preventing HEI’s and Hawaiian Electric’s respective subsidiaries from entering into agreements that restrict the ability of such subsidiaries to pay dividends to, or to repay borrowings from, HEI or Hawaiian Electric, as applicable; and a covenant in Hawaiian Electric’s facility restricting Hawaiian Electric’s ability, as well as the ability of any of its subsidiaries, to guarantee additional indebtedness of the subsidiaries if such additional debt would cause the subsidiary’s “Consolidated Subsidiary Funded Debt to Capitalization Ratio” (as defined in the Hawaiian Electric Facility) to exceed 65%). Under the HEI Facility, it is an event of default if HEI fails to maintain an unconsolidated “Capitalization Ratio” (funded debt) (as defined in the HEI Facility) of 50% or less or if HEI no longer owns Hawaiian Electric or ASB. Under the Hawaiian Electric Facility, it is an event of default if Hawaiian Electric fails to maintain a “Consolidated Capitalization Ratio” (equity) (as defined in the Hawaiian Electric Facility) of at least 35%, or if Hawaiian Electric is no longer owned by HEI.

Long-term debt

Long-term debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Long-term debt	Note 6 · Long-term debt December 31 2022 2021 (dollars in thousands) Long-term debt of Utilities, net of unamortized debt issuance costs 1 $ 1,684,816 $ 1,676,402 HEI 2.99% term loan, paid in 2022 — 150,000 HEI 3.99% senior notes, due 2023 50,000 50,000 HEI 4.58% senior notes, due 2025 50,000 50,000 HEI 4.72% senior notes, due 2028 100,000 100,000 HEI 2.82% senior notes, due 2028 24,000 24,000 HEI 2.48% senior notes, due 2028 30,000 30,000 HEI 2.98% senior notes, due 2030 50,000 50,000 HEI 3.15% senior notes, due 2031 51,000 51,000 HEI 2.78% senior notes, due 2031 25,000 25,000 HEI 2.98% senior notes, due 2032 30,000 — HEI 5.43% senior notes, due 2032 75,000 — HEI 5.43% senior notes, due 2034 35,000 — HEI 3.74% senior notes, due 2051 20,000 20,000 HEI 3.94% senior notes, due 2052 20,000 — Hamakua Energy 4.02% non-recourse notes, due 2030 2 49,048 52,166 Mauo LIBOR + 1.375% loan, due 2023 3 11,060 21,702 Mauo 4.90% non-recourse term loan, due 2034 2 17,692 12,686 Kaʻieʻie Waho 2.79% non-recourse loan, due 2031 2 10,936 12,145 Mahipapa 1.90% non-recourse loan, due 2034 to 2036 2 58,869 — Mahipapa 5.25% non-recourse loan, due 2027 2 724 — Less unamortized debt issuance costs and debt discount (8,165) (3,164) $ 2,384,980 $ 2,321,937 1 See components of “Total long-term debt” and unamortized debt issuance costs in Hawaiian Electric and subsidiaries’ Consolidated Statements of Capitalization. 2 Secured by real and personal property of the respective entity, including various land parcels, a 60MW combined cycle facility, photovoltaic and battery storage infrastructure, and a biomass plant. The aggregate net book value of the collateralized property, plant & equipment is approximately $198 million as of December 31, 2022. 3 In December 2021, the loan was amended to allow advances through October 5, 2022, in the maximum aggregate principal amount of up to $50.5 million and in December 2022, extended the required paydown of the loan balance to the lesser of (i) $7 million or (ii) the amount of state renewable tax credits not received by March 5, 2023. As of December 31, 2022, the aggregate principal payments required on the Company’s long-term debt for 2023 through 2027 are $172 million in 2023, $13 million in 2024, $109 million in 2025, $136 million in 2026 and $112 million in 2027. As of December 31, 2022, the aggregate payments of principal required on the Utilities’ long-term debt for 2023 through 2027 are $100 million in 2023, nil in 2024, $47 million in 2025, $125 million in 2026 and $100 million in 2027. The HEI term loans and senior notes contain customary representation and warranties, affirmative and negative covenants and events of default (the occurrence of which may result in some or all of the notes then outstanding becoming immediately due and payable). The HEI term loans and senior notes also contain provisions requiring the maintenance by HEI of certain financial ratios generally consistent with those in HEI’s revolving unsecured credit facility, as amended. Upon a change of control or certain dispositions of assets (as defined in the note purchase agreements of the senior notes), HEI is required to offer to prepay the senior notes. The Utilities’ senior notes contain customary representations and warranties, affirmative and negative covenants, and events of default (the occurrence of which may result in some or all of the notes of each and all of the utilities then outstanding becoming immediately due and payable) and provisions requiring the maintenance by Hawaiian Electric, and each of Hawaii Electric Light and Maui Electric, of certain financial ratios generally consistent with those in Hawaiian Electric’s existing, amended revolving unsecured credit agreement. Changes in long-term debt. HEI private placement . On September 29, 2022, HEI entered into a note purchase agreement (HEI NPA) under which HEI has authorized the issue and sale of $110 million of unsecured senior notes that were drawn on November 1, 2022. Proceeds from the Series 2022C tranche were used for general corporate purposes, including refinancing a portion of $150 million of debt that matured in November 2022 and the repayment of a portion of HEI commercial paper outstanding. Proceeds from the Green Series 2022D tranche are expected to be used to finance and/or refinance Green Investments, as defined in the HEI NPA, provided, however, that pending the full allocation of an amount equal to the proceeds from the Green Series 2022D to eligible Green Investments, the proceeds of the Green Series 2022D tranche will be managed in accordance with the Company’s normal treasury practices, including the repayment of existing indebtedness and/or used for working capital purposes. Once drawn, interest on the notes is paid semiannually on June 15th and December 15th. The HEI NPA contains certain restrictive financial covenants that are substantially the same as the financial covenants contained in HEI’s revolving unsecured credit facility, as amended. The HEI notes may be prepaid in whole or in part at any time at the prepayment price of the principal amount, together with interest accrued to the date of prepayment plus a “Make-Whole Amount,” as defined in the agreements. On September 29, 2021, HEI executed a $125 million private placement, utilizing a delayed draw feature with two tranches. The first tranche of $75 million was drawn on December 29, 2021 and the proceeds were primarily used to invest in the Utilities’ equity to support its capital expenditure program and maintain the Utilities’ equity capitalization ratio of approximately 58%. The second and final tranche of $50 million was drawn on October 26, 2022, to refinance a portion of $150 million of debt that matured on November 20, 2022. The following table displays HEI private placements drawn in 2022. HEI Series 2022A HEI Series 2022B HEI Series 2022C HEI Green Series 2022D Aggregate principal amount $30 million $20 million $75 million $35 million Fixed coupon interest rate 2.98% 3.94% 5.43% 5.43% Maturity date 10/26/2032 10/26/2052 11/1/2032 11/1/2034 Utilities private placement . On May 11, 2022, the Utilities executed, through a private placement pursuant to separate Note Purchase Agreements (the NPAs), the following unsecured senior notes bearing taxable interest (2022 Notes). The 2022 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 2022 Notes include substantially the same financial covenants and customary conditions as Hawaiian Electric’s credit agreement. Hawaiian Electric is also a party as guarantor under the NPAs entered into by Hawaii Electric Light and Maui Electric. The Utilities did not obtain any of the proceeds at execution and instead drew down all the proceeds on 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 2022 Notes may be prepaid in whole or in part at any time at the prepayment price of the principal amount plus a “Make-Whole Amount” as defined in the NPAs. On January 10, 2023, the Utilities executed through a private placement pursuant to separate NPAs, the following unsecured senior notes bearing taxable interest (2023 Notes). The 2023 Notes had a delayed draw feature and the Utilities drew down all the proceeds on February 9, 2023. Series 2023A Series 2023B Series 2023C Aggregate principal amount $90 million $40 million $20 million Fixed coupon interest rate Hawaiian Electric 6.11% 6.25% 6.70% Hawaii Electric Light 6.25% — — Maui Electric 6.25% — — Maturity date Hawaiian Electric 2/9/2030 2/9/2033 2/9/2053 Hawaii Electric Light 2/9/2033 — — Maui Electric 2/9/2033 — — Principal amount by company: Hawaiian Electric $40 million $40 million $20 million Hawaii Electric Light $25 million — — Maui Electric $25 million — — The 2023 Notes include substantially the same financial covenants and customary conditions as Hawaiian Electric’s credit agreement. Hawaiian Electric is also a party as guarantor under the NPAs entered into by Hawaii Electric Light and Maui Electric. The Utilities did not obtain any of the proceeds at execution and instead drew down all the proceeds on February 9, 2023. The proceeds were used to finance their respective capital expenditures, repay short-term debt used to finance or refinance capital expenditures and/or reimburse funds used for the payment of capital expenditures. The 2023 Notes may be prepaid in whole or in part at any time at the prepayment price of the principal amount plus a “Make-Whole Amount” as defined in the NPAs. Mahipapa loan .

Shareholders' equity

Shareholders' equity	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Shareholders' equity	Note 7 · Shareholders’ equity Reserved shares. As of December 31, 2022, HEI had reserved a total of 15.3 million shares of common stock for future issuance under the HEI Dividend Reinvestment and Stock Purchase Plan (DRIP), the Hawaiian Electric Industries Retirement Savings Plan (HEIRSP), the ASB 401(k) Plan, the HEI 2011 Nonemployee Director Stock Plan, and the 2010 Equity and Incentive Plan, as amended.’ Accumulated other comprehensive income/(loss). Changes in the balances of each component of 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, 2019 $ 2,481 $ (1,613) $ (20,907) $ (20,039) $ (1,279) Current period other comprehensive income (loss) and reclassifications, net of taxes 17,505 (1,750) 3,020 18,775 (1,640) Balance, December 31, 2020 19,986 (3,363) (17,887) (1,264) (2,919) Current period other comprehensive income (loss) and reclassifications, net of taxes (52,023) (275) 1,029 (51,269) (361) Balance, December 31, 2021 (32,037) (3,638) (16,858) (52,533) (3,280) Current period other comprehensive income (loss) and reclassifications, net of taxes (296,867) 5,629 7,743 (283,495) 6,141 Balance, December 31, 2022 $ (328,904) $ 1,991 $ (9,115) $ (336,028) $ 2,861 Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Statement of Years ended December 31 2022 2021 2020 (in thousands) HEI consolidated Net unrealized gains (losses) on available-for sale investment securities: Net realized gains on securities included in net income $ — $ (387) $ (1,638) Gain on sale of investment securities, net Amortization of unrealized holding losses on held-to-maturity securities 3,993 — — Bank revenues Net realized losses on derivatives qualifying as cash flow hedges 172 37 — Interest expense Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 19,659 19,253 23,689 See Note 10 for additional details Impact of D&Os of the PUC included in regulatory assets (199,936) (171,345) 39,860 See Note 10 for additional details Total reclassifications $ (176,112) $ (152,442) $ 61,911 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 18,884 $ 19,461 $ 21,550 See Note 10 for additional details Impact of D&Os of the PUC included in regulatory assets (199,936) (171,345) 39,860 See Note 10 for additional details Total reclassifications $ (181,052) $ (151,884) $ 61,410

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Note 8 · Leases The Company leases certain real estate and equipment for various terms under long -term lease agreements. The agreements expire at various dates through 2054 and provide for renewal options up to 10 years. The periods associated with the renewal options are excluded for the purpose of determining the lease term unless the exercise of the renewal option is reasonably certain. In the normal course of business, it is expected that many of these agreements will be replaced by similar agreements. Certain real estate leases require the Company to pay for operating expenses such as common area maintenance, real estate taxes and insurance, which are recognized as variable lease expense when incurred and are not included in the measurement of the lease liability. The Company elected the short-term lease recognition exemption for all of its leases that qualify, and accordingly, does not recognize lease liabilities and ROU assets for all leases that have lease terms that are 12 months or less. The amounts related to short-term leases are not material. The Company elected the practical expedient to not separate lease and non-lease components for its real estate and equipment and fossil fuel and renewable energy PPAs and to s eparate lease components from non-lease components for renewable energy plus battery storage PPAs. T he Utilities contract with independent power producers to supply energy under long-term power purchase agreements. Certain PPAs are treated as operating leases under the lease standard because the Company elected the practical expedient package under which prior conclusions about lease identification were not reassessed. The fixed capacity payments under the PPAs are included in the lease liability, while the variable lease payments (e.g., payments based on kWh) are excluded from the lease liability. Several as-available PPAs have variable-only payment terms based on production. For PPAs with no minimum lease payments, the Utilities do not recognize any lease liabilities or ROU assets, and the related costs are reported as variable lease costs. In the first quarter of 2021, PGV returned to service with firm capacity of 13 MW and ramped up to 25.7 MW in the second quarter of 2022. Hawaii Electric Light is required to make fixed capacity payments based on 25.7 MW. As of December 31, 2022, Hawaii Electric Light has a total of $19 million in lease liability with a corresponding ROU asset for the PGV PPA. The Utilities’ lease payments for each operating lease agreement were discounted using its estimated unsecured borrowing rates for the appropriate term, reduced for the estimated impact of collateral, which is a reduction of approximately 20 basis points. ASB’s lease payments for each operating lease agreement were discounted using Federal Home Loan Bank of Des Moines (FHLB) fixed rate advance rates, which are collateralized, for the appropriate term. The FHLB is ASB’s primary wholesale funding source and can provide collateralized borrowing rates for various terms starting at overnight borrowings to 30-year borrowing terms. In December 2020, Hawaiian Electric entered into an agreement with an unrelated party to sublease out approximately 64,000 square feet of the downtown Honolulu office space commencing in January 2021. The sublease is an operating lease for six and a half years with an option to extend the term for an additional two years. Estimated base rent revenue is approximately $8.3 million for the entire lease term. In addition to the base rent, Hawaiian Electric will also collect from the sublessee its proportionate share of all operating expenses, utilities, and taxes, which will be recognized as an additional rent revenue. In August 2021, the Utilities entered into an agreement with an unrelated party for exclusive use of a barge and tug to transport fuels between islands, commencing in January 2022. The contract is an operating lease with a term of five years with an option to extend the term for an additional five years. Annual base rent expense is approximately $6.2 million and the operating lease liability recorded upon commencement was $32 million. In addition to the annual base payment, there are additional payments for operating expenses, such as inspection expense, wharfage and pipeline tolls, which are recognized as variable lease cost when incurred. On July 31, 2022, Mililani I Solar, the first utility-scale solar-plus-storage project reached commercial operations on Oahu. The project is for a 20-year term and generates 39 MW, including a 156 MWh battery. The Utilities have accounted for battery portion of the project as a finance lease and recorded a lease liability with a corresponding right-of-use asset of $48 million. The timing of the Utilities’ recognition of the lease expense conforms to ratemaking treatment for the Utilities’ recovery of the cost of electricity and is included in purchased power for the interest and amortization of financing leases related to PPAs. Any material differences between expense recognition and timing of payments is deferred as a regulatory asset or liability in order to match what is being recovered for ratemaking purposes. Amounts related to the Company’s total lease cost and cash flows arising from lease transactions are as follows: HEI consolidated Hawaiian Electric consolidated Year ended December 31, 2022 Other leases PPAs classified as leases Total Other leases PPAs classified as leases Total (dollars in thousands) Operating lease cost $ 20,811 $ 46,160 $ 66,971 $ 15,030 $ 46,160 $ 61,190 Variable lease cost 8,931 241,199 250,130 6,152 241,199 247,351 Sublease income (2,675) — (2,675) (2,675) — (2,675) Total operating lease cost $ 27,067 $ 287,359 $ 314,426 $ 18,507 $ 287,359 $ 305,866 Finance lease costs: Amortization of right-of-use assets $ 188 $ 1,008 $ 1,196 $ — $ 1,008 $ 1,008 Interest on lease liabilities 20 786 806 — 786 786 Total finance lease cost $ 208 $ 1,794 $ 2,002 $ — $ 1,794 $ 1,794 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 19,143 $ 40,050 $ 59,193 $ 14,068 $ 40,050 $ 54,118 Operating cash flows from financing leases $ 20 $ 786 $ 806 $ — $ 786 $ 786 Financing cash flows from financing leases $ 179 $ 670 $ 849 $ — $ 670 $ 670 Weighted-average remaining lease term (in years): Operating leases 8.1 5.0 7.7 7.3 5.0 6.8 Finance leases 2.4 19.6 19.2 — 19.6 19.6 Weighted-average discount rate: Operating leases 2.96 % 3.50 % 3.04 % 2.94 % 3.50 % 3.05 % Finance leases 3.77 % 3.92 % 3.92 % — 3.92 % 3.92 % HEI consolidated Hawaiian Electric consolidated Year ended December 31, 2021 Other leases PPAs classified as leases Total Other leases PPAs classified as leases Total (dollars in thousands) Operating lease cost $ 14,184 $ 66,070 $ 80,254 $ 8,578 $ 66,070 $ 74,648 Variable lease cost 14,360 257,472 271,832 11,586 257,472 269,058 Sublease income (2,515) — (2,515) (2,515) — (2,515) Total lease cost $ 26,029 $ 323,542 $ 349,571 $ 17,649 $ 323,542 $ 341,191 Other information Cash paid for amounts included in the measurement of lease liabilities—Operating cash flows from operating leases $ 11,239 $ 62,136 $ 73,375 $ 6,168 $ 62,136 $ 68,304 Weighted-average remaining lease term—operating leases (in years) 9.1 2.5 6.1 10.0 2.5 5.9 Weighted-average discount rate—operating leases 2.84 % 3.63 % 3.18 % 2.98 % 3.63 % 3.31 % The following table summarizes the maturity of our operating lease liabilities as of December 31, 2022: HEI consolidated Hawaiian Electric consolidated (in millions) Other leases PPAs classified as leases Total Other leases PPAs classified as leases Total 2023 $ 24 $ 4 $ 28 $ 18 $ 4 $ 22 2024 21 4 25 15 4 19 2025 16 4 20 12 4 16 2026 15 4 19 12 4 16 2027 9 4 13 6 4 10 Thereafter 38 — 38 25 — 25 Total lease payments 123 20 143 88 20 108 Less: Imputed interest (15) (1) (16) (9) (1) (10) Total present value of lease payments 1 $ 108 $ 19 $ 127 $ 79 $ 19 $ 98 1 The fixed capacity payment related to the existing PPA with PGV, which will expire on December 31, 2027, is included as a lease liability as of December 31, 2021. The PGV facility returned to service with firm capacity in the first quarter of 2021. The annual capacity payment based on the most recent accepted output is approximately $4 million. The lease liability will be remeasured when PGV ramps back up to the original contracted firm capacity. The following table summarizes the maturity of our finance lease liabilities for PPAs as of December 31, 2022: HEI consolidated Hawaiian Electric consolidated (in millions) PPAs classified as leases PPAs classified as leases 2023 3 $ 3 2024 3 3 2025 3 3 2026 4 4 2027 4 4 Thereafter 52 52 Total lease payments 69 69 Less: Imputed interest (21) (21) Total present value of lease payments $ 48 $ 48 Note: Other finance leases are not material.
Leases	Note 8 · Leases The Company leases certain real estate and equipment for various terms under long -term lease agreements. The agreements expire at various dates through 2054 and provide for renewal options up to 10 years. The periods associated with the renewal options are excluded for the purpose of determining the lease term unless the exercise of the renewal option is reasonably certain. In the normal course of business, it is expected that many of these agreements will be replaced by similar agreements. Certain real estate leases require the Company to pay for operating expenses such as common area maintenance, real estate taxes and insurance, which are recognized as variable lease expense when incurred and are not included in the measurement of the lease liability. The Company elected the short-term lease recognition exemption for all of its leases that qualify, and accordingly, does not recognize lease liabilities and ROU assets for all leases that have lease terms that are 12 months or less. The amounts related to short-term leases are not material. The Company elected the practical expedient to not separate lease and non-lease components for its real estate and equipment and fossil fuel and renewable energy PPAs and to s eparate lease components from non-lease components for renewable energy plus battery storage PPAs. T he Utilities contract with independent power producers to supply energy under long-term power purchase agreements. Certain PPAs are treated as operating leases under the lease standard because the Company elected the practical expedient package under which prior conclusions about lease identification were not reassessed. The fixed capacity payments under the PPAs are included in the lease liability, while the variable lease payments (e.g., payments based on kWh) are excluded from the lease liability. Several as-available PPAs have variable-only payment terms based on production. For PPAs with no minimum lease payments, the Utilities do not recognize any lease liabilities or ROU assets, and the related costs are reported as variable lease costs. In the first quarter of 2021, PGV returned to service with firm capacity of 13 MW and ramped up to 25.7 MW in the second quarter of 2022. Hawaii Electric Light is required to make fixed capacity payments based on 25.7 MW. As of December 31, 2022, Hawaii Electric Light has a total of $19 million in lease liability with a corresponding ROU asset for the PGV PPA. The Utilities’ lease payments for each operating lease agreement were discounted using its estimated unsecured borrowing rates for the appropriate term, reduced for the estimated impact of collateral, which is a reduction of approximately 20 basis points. ASB’s lease payments for each operating lease agreement were discounted using Federal Home Loan Bank of Des Moines (FHLB) fixed rate advance rates, which are collateralized, for the appropriate term. The FHLB is ASB’s primary wholesale funding source and can provide collateralized borrowing rates for various terms starting at overnight borrowings to 30-year borrowing terms. In December 2020, Hawaiian Electric entered into an agreement with an unrelated party to sublease out approximately 64,000 square feet of the downtown Honolulu office space commencing in January 2021. The sublease is an operating lease for six and a half years with an option to extend the term for an additional two years. Estimated base rent revenue is approximately $8.3 million for the entire lease term. In addition to the base rent, Hawaiian Electric will also collect from the sublessee its proportionate share of all operating expenses, utilities, and taxes, which will be recognized as an additional rent revenue. In August 2021, the Utilities entered into an agreement with an unrelated party for exclusive use of a barge and tug to transport fuels between islands, commencing in January 2022. The contract is an operating lease with a term of five years with an option to extend the term for an additional five years. Annual base rent expense is approximately $6.2 million and the operating lease liability recorded upon commencement was $32 million. In addition to the annual base payment, there are additional payments for operating expenses, such as inspection expense, wharfage and pipeline tolls, which are recognized as variable lease cost when incurred. On July 31, 2022, Mililani I Solar, the first utility-scale solar-plus-storage project reached commercial operations on Oahu. The project is for a 20-year term and generates 39 MW, including a 156 MWh battery. The Utilities have accounted for battery portion of the project as a finance lease and recorded a lease liability with a corresponding right-of-use asset of $48 million. The timing of the Utilities’ recognition of the lease expense conforms to ratemaking treatment for the Utilities’ recovery of the cost of electricity and is included in purchased power for the interest and amortization of financing leases related to PPAs. Any material differences between expense recognition and timing of payments is deferred as a regulatory asset or liability in order to match what is being recovered for ratemaking purposes. Amounts related to the Company’s total lease cost and cash flows arising from lease transactions are as follows: HEI consolidated Hawaiian Electric consolidated Year ended December 31, 2022 Other leases PPAs classified as leases Total Other leases PPAs classified as leases Total (dollars in thousands) Operating lease cost $ 20,811 $ 46,160 $ 66,971 $ 15,030 $ 46,160 $ 61,190 Variable lease cost 8,931 241,199 250,130 6,152 241,199 247,351 Sublease income (2,675) — (2,675) (2,675) — (2,675) Total operating lease cost $ 27,067 $ 287,359 $ 314,426 $ 18,507 $ 287,359 $ 305,866 Finance lease costs: Amortization of right-of-use assets $ 188 $ 1,008 $ 1,196 $ — $ 1,008 $ 1,008 Interest on lease liabilities 20 786 806 — 786 786 Total finance lease cost $ 208 $ 1,794 $ 2,002 $ — $ 1,794 $ 1,794 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 19,143 $ 40,050 $ 59,193 $ 14,068 $ 40,050 $ 54,118 Operating cash flows from financing leases $ 20 $ 786 $ 806 $ — $ 786 $ 786 Financing cash flows from financing leases $ 179 $ 670 $ 849 $ — $ 670 $ 670 Weighted-average remaining lease term (in years): Operating leases 8.1 5.0 7.7 7.3 5.0 6.8 Finance leases 2.4 19.6 19.2 — 19.6 19.6 Weighted-average discount rate: Operating leases 2.96 % 3.50 % 3.04 % 2.94 % 3.50 % 3.05 % Finance leases 3.77 % 3.92 % 3.92 % — 3.92 % 3.92 % HEI consolidated Hawaiian Electric consolidated Year ended December 31, 2021 Other leases PPAs classified as leases Total Other leases PPAs classified as leases Total (dollars in thousands) Operating lease cost $ 14,184 $ 66,070 $ 80,254 $ 8,578 $ 66,070 $ 74,648 Variable lease cost 14,360 257,472 271,832 11,586 257,472 269,058 Sublease income (2,515) — (2,515) (2,515) — (2,515) Total lease cost $ 26,029 $ 323,542 $ 349,571 $ 17,649 $ 323,542 $ 341,191 Other information Cash paid for amounts included in the measurement of lease liabilities—Operating cash flows from operating leases $ 11,239 $ 62,136 $ 73,375 $ 6,168 $ 62,136 $ 68,304 Weighted-average remaining lease term—operating leases (in years) 9.1 2.5 6.1 10.0 2.5 5.9 Weighted-average discount rate—operating leases 2.84 % 3.63 % 3.18 % 2.98 % 3.63 % 3.31 % The following table summarizes the maturity of our operating lease liabilities as of December 31, 2022: HEI consolidated Hawaiian Electric consolidated (in millions) Other leases PPAs classified as leases Total Other leases PPAs classified as leases Total 2023 $ 24 $ 4 $ 28 $ 18 $ 4 $ 22 2024 21 4 25 15 4 19 2025 16 4 20 12 4 16 2026 15 4 19 12 4 16 2027 9 4 13 6 4 10 Thereafter 38 — 38 25 — 25 Total lease payments 123 20 143 88 20 108 Less: Imputed interest (15) (1) (16) (9) (1) (10) Total present value of lease payments 1 $ 108 $ 19 $ 127 $ 79 $ 19 $ 98 1 The fixed capacity payment related to the existing PPA with PGV, which will expire on December 31, 2027, is included as a lease liability as of December 31, 2021. The PGV facility returned to service with firm capacity in the first quarter of 2021. The annual capacity payment based on the most recent accepted output is approximately $4 million. The lease liability will be remeasured when PGV ramps back up to the original contracted firm capacity. The following table summarizes the maturity of our finance lease liabilities for PPAs as of December 31, 2022: HEI consolidated Hawaiian Electric consolidated (in millions) PPAs classified as leases PPAs classified as leases 2023 3 $ 3 2024 3 3 2025 3 3 2026 4 4 2027 4 4 Thereafter 52 52 Total lease payments 69 69 Less: Imputed interest (21) (21) Total present value of lease payments $ 48 $ 48 Note: Other finance leases are not material.

Revenues

Revenues	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Note 9 · Revenues Revenue from contracts with customers. The revenues subject to ASC Topic 606 include the Utilities’ electric energy sales revenue and the ASB’s transaction fees, as further described below. Electric Utilities . Electric energy sales . Electric energy sales represent revenues from the generation and transmission of electricity to customers under tariffs approved by the PUC. Transaction pricing for electricity is determined and approved by the PUC for each rate class and includes revenues from the base electric charges, which are composed of (1) the customer, demand, energy, and minimum charges, and (2) the power factor, service voltage, and other adjustments as provided in each rate and rate rider schedule. Electric energy sales also represent contract rate charge from the generation and transmission of electricity to the Army. The monthly pricing is recalculated on an annual basis based on actual costs, approved by the Army. The Utilities satisfy performance obligations of electric energy sales over time, i.e., the Utilities generate and transfer control of the electricity over time as the customer simultaneously receives and consumes the benefits provided by the Utilities’ performance. Payments from customers are generally due within 30 days from the end of the billing period. As electric bills to customers reflect the amount that corresponds directly with the value of the Utilities’ performance to date, the Utilities have elected to use the right to invoice practical expedient, which entitles them to recognize revenue in the amount they have the right to invoice. The Utilities’ revenues include amounts for recovery of various Hawaii state revenue taxes. Revenue taxes are generally recorded as an expense in the year the related revenues are recognized. For 2022, 2021 and 2020, the Utilities’ revenues include recovery of revenue taxes of approximately $303 million, $226 million and $202 million, respectively, which amounts are in “Taxes, other than income taxes” expense. However, the Utilities pay revenue taxes to the taxing authorities based on (1) the prior year’s billed revenues (in the case of public service company taxes and PUC fees) in the current year or (2) the current year’s cash collections from electric sales (in the case of franchise taxes) after year end. As of December 31, 2022 and 2021, the Utilities had recorded $188 million and $128 million, respectively, in “Taxes accrued, including revenue taxes” on the Utilities’ consolidated balance sheet for amounts previously collected from customers or accrued for public service company taxes and PUC fees, net of amounts paid to the taxing authorities. Such amounts will be used to pay public service company taxes and PUC fees owed for the following year. Bank . Bank fees. Bank fees are primarily transaction-based and are recognized when the transaction has occurred and the performance obligation satisfied. From time to time, customers will request a fee waiver and ASB may grant reversals of fees. Revenues are not recorded for the estimated amount of fee reversals for each period. Fees from other financial services - These fees primarily include debit card interchange income and fees, automated teller machine fees, credit card interchange income and fees, check ordering fees, wire fees, safe deposit rental fees, corporate/business fees, merchant income, online banking fees and international banking fees. Amounts paid to third parties for payment network expenses are included in this financial statement caption in ASB’s Statements of Income and Comprehensive Income Data (in Revenues—Bank financial statement caption of HEI’s Consolidated Statements of Income). Fee income on deposit liabilities - These fees primarily include “not sufficient funds” fees, monthly deposit account service charge fees, commercial account analysis fees and other deposit fees. Fee income on other financial products - These fees primarily include commission income from the sales of annuity, mutual fund, and life insurance products. ASB also offers a fee-based, managed account product in which income is based on a percentage of assets under management. Other Segment . Other sales. Other sales primarily consist of revenues from the generation and sale of renewable energy at fixed contractual prices per kWh to customers under power purchase agreements by Pacific Current subsidiaries. The performance obligation is satisfied over time as renewable energy is generated and control is transferred to the customer that simultaneously receives and consumes the benefits provided. Payments from customers are generally due within 30 days from the end of the billing period. The bill to customers reflect the amount that corresponds directly with the value of performance to date. Pacific Current has elected to use the right to invoice practical expedient, which entitles it to recognize revenue in the amount they have the right to invoice. Revenues from other sources. Revenues from other sources not subject to ASC Topic 606 are accounted for as follows: Electric Utilities . Regulatory revenues . Regulatory revenues primarily consist of revenues from the decoupling mechanism and cost recovery surcharges. Decoupling mechanism - Under the current decoupling mechanism, the Utilities are allowed to recover or obligated to refund the difference between actual revenue and the target revenue as determined by the PUC, collect annual revenue adjustment mechanism (ARA) and exceptional project recovery mechanism revenues, and recover or refund performance incentive mechanism penalties or rewards. These adjustments will be reflected in tariffs in future periods. Under the PBR framework, the accrued RBA revenues as of the preceding September 30 balance and the annual ARA amount are billed from January 1 through December 31 of each year, which is within 24 months following the end of the year in which they are recorded as required by the accounting standard for alternative revenue programs (see “Regulatory proceedings” in Note 3). Cost recovery surcharges - For the timely recovery of additional costs incurred, and reconciliation of costs and expenses included in tariffed rates, the Utilities recognize revenues under surcharge mechanisms approved by the PUC. These will be reflected in tariffs in future periods (e.g., ECRC and PPAC). Since revenue adjustments discussed above resulted from either agreements with the PUC or change in tax law, rather than contracts with customers, they are not subject to the scope of ASC Topic 606. Also, see Notes 1, 3 and 12 of the Consolidated Financial Statements. The Utilities have elected to present these revenue adjustments on a gross basis, which results in the amounts being billed to customers presented in revenues from contracts with customers and the amortization of the related regulatory asset/liability as revenues from other sources. Depending on whether the previous deferral balance being amortized was a regulatory asset or regulatory liability, and depending on the size and direction of the current year deferral of surcharges and/or refunds to customers, it could result in negative regulatory revenue during the year. Utility pole attachment fees . These fees primarily represent revenues from third-party companies for their access to and shared use of Utilities-owned poles through licensing agreements. As the shared portion of the utility pole is functionally dependent on the rest of the structure, no distinct goods appear to exist. Therefore, these fees are not subject to the scope of ASC Topic 606, but recognized in accordance with ASC Topic 610, Other Income . Army privatization extraordinary O&M (EOM) fees. The monthly EOM fee provides the recovery of the incremental extraordinary O&M costs not covered under the standard utility services. The nature of the work related to transitional period revenue and monthly EOM fees do not represent the Utilities’ ongoing major or central operations (i.e., generating, and transmission and distribution of electricity) and is provided specifically for the arrangement between the Utilities and the Army. Therefore, these revenues are not subject to the scope of ASC Topic 606, but recognized in accordance with ASC Topic 610, Other Income . Bank . Interest and dividend income . Interest and fees on loans are recognized in accordance with ASC Topic 310, Receivables , including the related allowance for credit losses. Interest and dividends on investment securities are recognized in accordance with ASC Topic 320, Investments-Debt and Equity Securities. See Notes 1 and 4 of the Consolidated Financial Statements. Other bank noninterest income . Other bank noninterest income primarily consists of mortgage banking income and bank-owned life insurance income. Mortgage banking income - Mortgage banking income consists primarily of realized and unrealized gains on sale of loans accounted for pursuant to ASC Topic 860, Transfers and Servicing . Interest rate lock commitments and forward loan sales are considered derivatives and are accounted pursuant to ASC Topic 815, Derivatives and Hedging . Bank-Owned Life Insurance (BOLI) - The recognition of BOLI cash surrender value does not represent a contract with a customer and is accounted for in accordance with Emerging Issues Task Force Issue 06-05, Accounting for Purchases of Life Insurance-Determining the Amount that Could be Realized in Accordance with FASB Technical Bulletin No. 85-4, Accounting for Purchases of Life Insurance . Revenue disaggregation. The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Year ended December 31, 2022 Year ended December 31, 2021 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 1,078,372 $ — $ — $ 1,078,372 $ 830,653 $ — $ — $ 830,653 Electric energy sales - commercial 1,087,485 — — 1,087,485 791,424 — — 791,424 Electric energy sales - large light and power 1,221,608 — — 1,221,608 837,834 — — 837,834 Electric energy sales - other 17,063 — — 17,063 10,770 — — 10,770 Bank fees — 48,883 — 48,883 — 46,658 — 46,658 Other sales — — 11,804 11,804 — — 4,086 4,086 Total revenues from contracts with customers 3,404,528 48,883 11,804 3,465,215 2,470,681 46,658 4,086 2,521,425 Revenues from other sources Regulatory revenue (29,124) — — (29,124) 40,069 — — 40,069 Bank interest and dividend income — 265,874 — 265,874 — 242,266 — 242,266 Other bank noninterest income — 6,311 — 6,311 — 17,474 — 17,474 Other 33,183 — 526 33,709 28,886 — 259 29,145 Total revenues from other sources 4,059 272,185 526 276,770 68,955 259,740 259 328,954 Total revenues $ 3,408,587 $ 321,068 $ 12,330 $ 3,741,985 $ 2,539,636 $ 306,398 $ 4,345 $ 2,850,379 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 48,883 $ — $ 48,883 $ — $ 46,658 $ — $ 46,658 Services/goods transferred over time 3,404,528 — 11,804 3,416,332 2,470,681 — 4,086 2,474,767 Total revenues from contracts with customers $ 3,404,528 $ 48,883 $ 11,804 $ 3,465,215 $ 2,470,681 $ 46,658 $ 4,086 $ 2,521,425 There are no material contract assets or liabilities associated with revenues from contracts with customers existing at December 31, 2022 and 2021. 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 consolidated balance sheets and customer accounts receivable, net and accrued unbilled revenues, net on Hawaiian Electric’s consolidated balance sheets. As of December 31, 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	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Retirement benefits	Note 10 · Retirement benefits Defined benefit plans. Substantially all of the employees of HEI and the Utilities hired on or before December 31, 2021, participate in the Retirement Plan for Employees of Hawaiian Electric Industries, Inc. and Participating Subsidiaries (HEI Pension Plan). The HEI Pension Plan was closed to new employees first hired on or after January 1, 2022. Substantially all of the employees of ASB participated in the American Savings Bank Retirement Plan (ASB Pension Plan) until it was frozen on December 31, 2007. The HEI Pension Plan and the ASB Pension Plan (collectively, the Plans) are qualified, noncontributory defined benefit pension plans and include, in the case of the HEI Pension Plan, benefits for utility union employees determined in accordance with the terms of the collective bargaining agreements between the Utilities and the union. The Plans are subject to the provisions of ERISA. In addition, some current and former executives and directors of HEI and its subsidiaries participate in noncontributory, nonqualified plans (collectively, Supplemental Plans). In general, benefits are based on the employees’ or directors’ years of service and compensation. The continuation of the Plans and the Supplemental Plans and the payment of any contribution thereunder are not assumed as contractual obligations by the participating employers. The Supplemental Plan for directors has been frozen since 1996. The ASB Pension Plan was frozen as of December 31, 2007. The HEI Supplemental Executive Retirement Plan and ASB Supplemental Executive Retirement, Disability, and Death Benefit Plan (noncontributory, nonqualified, defined benefit plans) were frozen as of December 31, 2008. No participants have accrued any benefits under these plans after the respective plan’s freeze and the plans will be terminated at the time all remaining benefits have been paid. Each participating employer reserves the right to terminate its participation in the applicable plans at any time, and HEI and ASB reserve the right to terminate their respective plans at any time. If a participating employer terminates its participation in the Plans, the interest of each affected participant would become 100% vested to the extent funded. Upon the termination of the Plans, assets would be distributed to affected participants in accordance with the applicable allocation provisions of ERISA and any excess assets that exist would be paid to the participating employers. Participants’ benefits in the Plans are covered up to certain limits under insurance provided by the Pension Benefit Guaranty Corporation. Postretirement benefits other than pensions. HEI and the Utilities provide eligible employees health and life insurance benefits upon retirement under the Postretirement Welfare Benefits Plan for Employees of Hawaiian Electric Company, Inc. and participating employers (Hawaiian Electric Benefits Plan). Eligibility of employees and dependents is based on eligibility to retire at termination, the retirement date and the date of hire. The plan was amended in 2011, changing eligibility for certain bargaining unit employees hired prior to May 1, 2011, based on new minimum age and service requirements effective January 1, 2012, per the collective bargaining agreement, and certain management employees hired prior to May 1, 2011 based on new eligibility minimum age and service requirements effective January 1, 2012. The minimum age and service requirements for management and bargaining unit employees hired May 1, 2011 and thereafter have increased and their dependents are not eligible to receive postretirement benefits. Employees may be eligible to receive benefits from the HEI Pension Plan but may not be eligible for postretirement welfare benefits if the different eligibility requirements are not met. The executive death benefit plan was frozen on September 10, 2009 for participants at benefit levels as of that date. The Company’s and Utilities’ cost for OPEB has been adjusted to reflect the plan amendments, which reduced benefits and created prior service credits to be amortized over average future service of affected participants. The amortization of the prior service credit will reduce benefit costs until the various credit bases are fully recognized. Each participating employer reserves the right to terminate its participation in the Hawaiian Electric Benefits Plan at any time. Balance sheet recognition of the funded status of retirement plans. Employers must recognize on their balance sheets the funded status of defined benefit pension and other postretirement benefit plans with an offset to AOCI in shareholders’ equity (using the projected benefit obligation (PBO) and accumulated postretirement benefit obligation (APBO), to calculate the funded status). The PUC allowed the Utilities to adopt pension and OPEB tracking mechanisms in previous rate cases. The amount of the net periodic pension cost (NPPC) and net periodic benefits costs (NPBC) to be recovered in rates is established by the PUC in each rate case or as allowed under the PBR Framework (see “Regulatory proceedings” in Note 3). Under the Utilities’ 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. Accordingly, all retirement benefit expenses (except for executive life and nonqualified pension plan expenses, which amounted to $1.3 million and $1.2 million in 2022 and 2021, respectively) determined in accordance with GAAP will be recovered. Under the tracking mechanisms, amounts that would otherwise be recorded in AOCI (excluding amounts for executive life and nonqualified pension plans), net of taxes, as well as other pension and OPEB charges, are allowed to be reclassified as a regulatory asset, as those costs will be recovered in rates through the NPPC and NPBC in the future. The Utilities have reclassified to a regulatory asset/(liability) charges for retirement benefits that would otherwise be recorded in AOCI (amounting to the elimination of a potential adjustment to AOCI of $(269.3) million pretax and $(230.8) million pretax for 2022 and 2021, respectively). Under the pension tracking mechanism, the Utilities are required to make contributions to the pension trust in the amount of the actuarially calculated NPPC, except when limited by the ERISA minimum contribution requirements or the maximum contributions imposed by the Internal Revenue Code. Contributions in excess of the calculated NPPC are recorded in a separate regulatory asset. The OPEB tracking mechanisms generally require the Utilities to make contributions to the OPEB trust in the amount of the actuarially calculated NPBC, (excluding amounts for executive life), except when limited by material, adverse consequences imposed by federal regulations. Future decisions in rate cases could further impact funding amounts. Defined benefit pension and other postretirement benefit plans information. The changes in the obligations and assets of the Company’s and Utilities’ retirement benefit plans and the changes in AOCI (gross) for 2022 and 2021 and the funded status of these plans and amounts related to these plans reflected in the Company’s and Utilities’ consolidated balance sheets as of December 31, 2022 and 2021 were as follows: 2022 2021 (in thousands) Pension Other Pension Other HEI consolidated Benefit obligation, January 1 $ 2,644,639 $ 218,151 $ 2,624,530 $ 226,421 Service cost 78,173 2,580 81,432 2,827 Interest cost 80,062 6,502 75,361 6,122 Actuarial gains (848,905) (60,283) (43,300) (8,527) Participants contributions — 3,348 — 2,943 Benefits paid and expenses (97,204) (12,862) (93,384) (11,635) Benefit obligation, December 31 1,856,765 157,436 2,644,639 218,151 Fair value of plan assets, January 1 2,320,745 239,311 2,089,491 219,873 Actual return on plan assets (461,669) (39,469) 271,443 28,130 Employer contributions 42,542 — 51,777 — Participants contributions — 3,348 — 2,943 Benefits paid and expenses (95,239) (12,643) (91,966) (11,635) Fair value of plan assets, December 31 1,806,379 190,547 2,320,745 239,311 Accrued benefit asset (liability), December 31 $ (50,386) $ 33,111 $ (323,894) $ 21,160 Other assets $ 21,012 $ 33,526 $ 23,675 $ 21,663 Defined benefit pension and other postretirement benefit plans liability (71,398) (415) (347,569) (503) Accrued benefit asset (liability), December 31 $ (50,386) $ 33,111 $ (323,894) $ 21,160 AOCI debit/(credit), January 1 (excluding impact of PUC D&Os) $ 347,799 $ (19,975) $ 557,564 $ 2,395 Recognized during year – prior service credit — 928 — 1,533 Recognized during year – net actuarial gain (loss) (27,412) 12 (27,245) (203) Occurring during year – net actuarial gain (245,969) (7,203) (182,520) (23,700) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 74,418 (26,238) 347,799 (19,975) Cumulative impact of PUC D&Os (55,201) 19,486 (324,162) 19,166 AOCI debit/(credit), December 31 $ 19,217 $ (6,752) $ 23,637 $ (809) Net actuarial loss (gain) $ 74,418 $ (25,363) $ 347,799 $ (18,172) Prior service gain — (875) — (1,803) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 74,418 (26,238) 347,799 (19,975) Cumulative impact of PUC D&Os (55,201) 19,486 (324,162) 19,166 AOCI debit/(credit), December 31 19,217 (6,752) 23,637 (809) Income taxes (benefits) (5,088) 1,740 (6,199) 209 AOCI debit/(credit), net of taxes (benefits), December 31 $ 14,129 $ (5,012) $ 17,438 $ (600) As shown in the table above, as of December 31, 2022, the other postretirement benefit plan with APBO in excess of plan assets is an unfunded plan, and as of December 31, 2021, the other postretirement benefit plans with APBOs in excess of plan assets are unfunded plans. 2022 2021 (in thousands) Pension Other Pension Other Hawaiian Electric consolidated Benefit obligation, January 1 $ 2,464,944 $ 209,470 $ 2,440,758 $ 217,074 Service cost 75,845 2,554 79,463 2,802 Interest cost 74,363 6,227 70,235 5,875 Actuarial gains (804,498) (58,253) (39,755) (7,779) Participants contributions — 3,286 — 2,886 Benefits paid and expenses (88,450) (12,750) (85,425) (11,388) Transfers (6,079) — (332) — Benefit obligation, December 31 1,716,125 150,534 2,464,944 209,470 Fair value of plan assets, January 1 2,142,617 235,525 1,909,730 216,315 Actual return on plan assets (426,825) (38,764) 266,922 27,712 Employer contributions 41,894 — 51,079 — Participants contributions — 3,286 — 2,886 Benefits paid and expenses (87,952) (12,541) (84,852) (11,388) Other (3,854) (12) (262) — Fair value of plan assets, December 31 1,665,880 187,494 2,142,617 235,525 Accrued benefit asset (liability), December 31 $ (50,245) $ 36,960 $ (322,327) $ 26,055 Other assets $ — $ 36,960 $ — $ 26,055 Other liabilities (short-term) (497) — (547) — Defined benefit pension and other postretirement benefit plans liability (49,748) — (321,780) — Accrued benefit asset (liability), December 31 $ (50,245) $ 36,960 $ (322,327) $ 26,055 AOCI debit/(credit), January 1 (excluding impact of PUC D&Os) $ 329,645 $ (20,231) $ 538,521 $ 1,181 Recognized during year – prior service credit — 925 — 1,530 Recognized during year – net actuarial loss (26,358) — (27,534) (206) Occurring during year – net actuarial gain (246,023) (6,096) (181,342) (22,736) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 57,264 (25,402) 329,645 (20,231) Cumulative impact of PUC D&Os (55,201) 19,486 (324,162) 19,166 AOCI debit/(credit), December 31 $ 2,063 $ (5,916) $ 5,483 $ (1,065) Net actuarial loss (gain) $ 57,264 $ (24,530) $ 329,645 $ (18,434) Prior service gain — (872) — (1,797) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 57,264 (25,402) 329,645 (20,231) Cumulative impact of PUC D&Os (55,201) 19,486 (324,162) 19,166 AOCI debit/(credit), December 31 2,063 (5,916) 5,483 (1,065) Income taxes (benefits) (531) 1,523 (1,412) 274 AOCI debit/(credit), net of taxes (benefits), December 31 $ 1,532 $ (4,393) $ 4,071 $ (791) Pension benefits . In 2022, actuarial gains (losses) due to demographic experience, including any assumption changes, the most significant of which was the increase in the discount rate used to measure PBO compared to the prior year, improved funded position while investment returns lower than assumed rates, partially offset the improvement. In 2021, investment returns were higher than assumed rates and improved the funded position. Actuarial gains due to demographic experience, including assumption changes, the most significant of which was the increase in the discount rate used to measure PBO compared to the prior year, improved funded position while the updates to mortality assumptions projected generationally, partially offset the improvement. Other benefits . In 2022, actuarial gains (losses) due to demographic experience, including any assumption changes, the most significant of which was the increase in the discount rate used to measure APBO compared to the prior year, improved funded position while investment returns lower than assumed rates, partially offset the improvement. In 2021, investment returns were higher than assumed rates and improved funded position. Actuarial gains due to demographic experience, including assumption changes, the most significant of which was the increase in the discount rate used to measure APBO, improved the funded position while the updates to the per capita claims cost to reflect 2022 premiums and mortality assumptions projected generationally, partially offset the improvement. The dates used to determine retirement benefit measurements for the defined benefit plans and OPEB were December 31 of 2022, 2021 and 2020. Through December 31, 2020, for purposes of calculating NPPC and NPBC for all plan assets, the Company and the Utilities have determined the market-related value of retirement benefit plan assets, primarily equity securities and fixed income securities, by calculating the difference between the expected return and the actual return on the fair value of the plan assets, then amortizing the difference over future years – 0% in the first year and 25% in each of years two through five – and finally adding or subtracting the unamortized differences for the past four years from fair value. The method includes a 15% range restriction around the fair value of such assets (i.e., 85% to 115% of fair value). Effective January 1, 2021, the Company adopted a change in accounting principle for the plans’ fixed income securities from the calculated market-related value method to the fair value method in the calculation of the expected return on plan assets component of NPPC and NPBC. The remaining plan assets continue to use the calculated market-related value methodology. The Company considers the fair value approach to be preferable for its fixed-income securities portfolio because it results in a current reflection of the changes in the value of plan assets in a way similar to the obligations it is intended to hedge. The Company evaluated the effect of this change in accounting principle and deemed it to be immaterial to the historical financial statements of the Company and Hawaiian Electric and, therefore, did not account for the change retrospectively and recorded the cumulative effects from the change in accounting principle in earnings for non-Utility businesses in the first quarter of 2021. Amounts related to the Utilities were reflected as adjustments to regulatory assets as appropriate, consistent with the expected regulatory treatment as described in the following paragraph. 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. A primary goal of the plans is to achieve long-term asset growth sufficient to pay future benefit obligations at a reasonable level of risk. The investment policy target for defined benefit pension and OPEB plans of HEI and the Utilities reflects the philosophy that long-term growth can best be achieved by prudent investments in equity securities while balancing overall fund and pension liability volatility by an appropriate allocation to fixed income securities. To reduce the level of portfolio risk and volatility in returns, efforts have been made to diversify the plans’ investments by asset class, geographic region, market capitalization and investment style. ASB’s frozen, overfunded defined benefit pension plan is invested in a portfolio that uses a liability-driven investment strategy to limit funded status volatility. The asset allocation of defined benefit retirement plans to equity and fixed income securities (excluding cash) and related investment policy targets and ranges were as follows: Pension benefits 1 Other benefits 2 Investment policy Investment policy December 31 2022 2021 Target Range 3 2022 2021 Target Range 3 Assets held by category U.S. equity securities 58 % 59 % 50 % 40-65% 57 % 58 % 50 % 40-65% Non-U.S equity securities 13 13 15 5-25% 15 15 15 5-25% Fixed income securities 27 27 30 20-60% 28 27 30 20-60% Private equity 2 1 5 0-10% — — 5 0-10% 100 % 100 % 100 % 100 % 100 % 100 % 1 Asset allocation (excluding cash) is applicable to only HEI and the Utilities. As of December 31, 2022 and 2021, nearly all of ASB’s pension assets were invested in fixed income securities. 2 Asset allocation (excluding cash) is applicable to only HEI and the Utilities. ASB does not fund its other benefits. 3 Broad range for equity securities is a minimum of 60% and a maximum of 80% for pension benefits and other benefits. The fair values of the investments shown in the tables below represent the Company’s best estimates of the amounts that would be received upon sale of those assets in an orderly transaction between market participants at that date. Those fair value measurements maximize the use of observable inputs. However, in situations where there is little, if any, market activity for the asset at the measurement date, the fair value measurement reflects the Company’s judgments about the assumptions that market participants would use in pricing the asset. Those judgments are developed by the Company based on the best information available in the circumstances. The Company used the following valuation methodologies for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2022 and 2021. Equity securities, equity index fund, exchange-traded funds, U.S. Treasury fixed income securities and mutual funds (Level 1) . Equity securities, equity index fund, exchange-traded funds, U.S. Treasury fixed income securities and mutual funds are valued at the closing price reported on the active market on which the individual securities or funds are traded. Fixed income securities and preferred securities (Level 2) . Fixed income and preferred securities, other than those issued by the U.S. Treasury, are valued based on yields currently available on comparable securities of issuers with similar credit ratings. Assets held in various trusts for the retirement benefit plans are measured at fair value on a recurring basis and were as follows: Pension benefits Other benefits Fair value measurements using Fair value measurements using (in millions) December 31 Quoted prices in active markets for identical assets Significant other observable inputs December 31 Quoted prices in active markets for identical assets Significant other observable inputs 2022 U.S. equity securities $ 387 $ 387 $ — $ 48 $ 48 $ — Non-U.S. equity securities 147 147 — 18 18 — U.S. equity index and exchange-traded funds 580 580 — 58 58 — Non-U.S. equity investments at net asset value (NAV) 75 — — 10 — — Total equity investments 1,189 1,114 — 134 124 — Fixed income securities 83 10 73 — — — Fixed income mutual and exchange-traded funds 225 225 — 50 50 — Fixed income investments at NAV 226 — — 3 — — Total fixed income investments 534 235 73 53 50 — Private equity at NAV 34 — — — — — Cash equivalents, fund and at NAV 48 15 — 4 3 — Total 1,805 $ 1,364 $ 73 191 $ 177 $ — Cash, receivables and payables, net 1 — Fair value of plan assets $ 1,806 $ 191 2021 U.S. equity securities $ 432 $ 431 $ 1 $ 53 $ 53 $ — Non-U.S. equity securities 188 188 — 24 24 — U.S. equity index and exchange-traded funds 830 830 — 84 84 — Non-U.S. equity investments at NAV 96 — — 12 — — Total equity investments 1,546 1,449 1 173 161 — Fixed income securities and mutual funds 393 146 247 58 56 2 Fixed income investments at NAV 307 — — 5 — — Total fixed income investments 700 146 247 63 56 2 Private equity at NAV 22 — — — — — Cash equivalents, fund and at NAV 50 15 — 3 3 — Total 2,318 $ 1,610 $ 248 239 $ 220 $ 2 Cash, receivables and payables, net 3 — Fair value of plan assets $ 2,321 $ 239 The fair value of investments measured at NAV presented in the table above is intended to permit reconciliation to the fair value of plan assets. The following table represents assets measured at NAV. Pension benefits Other benefits Measured at NAV December 31 Redemption frequency Redemption notice period December 31 Redemption frequency Redemption notice period (in millions) 2022 Non-U.S. equity funds (a) $ 75 Daily-Monthly 5-30 days $ 10 Daily-Monthly 5-30 days Fixed income investments (b) 226 Daily 15 days 3 Daily 15 days Private equity (c) 34 NA NA — NA NA Cash equivalents (d) 33 Daily 0-1 day 1 Daily 0-1 day $ 368 $ 14 2021 Non-U.S. equity funds (a) $ 96 Daily-Monthly 5-30 days $ 12 Daily-Monthly 5-30 days Fixed income investments (b) 307 Daily 15 days 5 Daily 15 days Private equity (c) 22 NA NA — NA NA Cash equivalents (d) 35 Daily 0-1 day — Daily 0-1 day $ 460 $ 17 NA Not applicable None of the investments presented in the tables above have unfunded commitments, other than private equity disclosed in (c) below. (a) Represents investments in funds that primarily invest in non-U.S., emerging markets equities. Redemption frequency for pension benefits assets as of December 31, 2022 were: daily, 59% and monthly, 41%, and as of December 31, 2021 were daily, 61% and monthly, 39%. Redemption frequency for other benefits assets as of December 31, 2022 were: daily, 56% and monthly, 44% and as of December 31, 2021 were: daily, 57% and monthly, 43%. (b) Represents investments in fixed income securities invested in a US-dollar denominated fund that seeks to exceed the Bloomberg US Long Corporate A or Better Bond Index through investments in US-dollar denominated fixed income securities and commingled vehicles. (c) Represents investment in a private equity fund. The fund is valued as reported by the General Partner, based on the valuation of the underlying investments. As of December 31, 2022 and 2021, the unfunded commitment of the private equity fund was $56 million and $66 million, respectively; the fund does not allow redemptions but may be dissolved with six months written notice. The termination date of the fund is November 1, 2100, unless dissolved earlier. (d) Represents investments in cash equivalent funds. This class includes funds that invest primarily in securities issued or guaranteed by the U.S. government or its agencies or instrumentalities. For pension benefits, the fund may also invest in fixed income securities of investment grade issuers. The following weighted-average assumptions were used in the accounting for the plans: Pension benefits Other benefits December 31 2022 2021 2020 2022 2021 2020 Benefit obligation Discount rate 1 5.67 % 3.05 % 2.92 % 5.66 % 3.07 % 2.83 % Rate of compensation increase 3.5 3.5 3.5 NA NA NA Net periodic pension/benefit cost (years ended) Discount rate 2 3.05 2.92 3.61 3.07 2.83 3.52 Expected return on plan assets 3 7.25 7.25 7.25 7.25 7.25 7.25 Rate of compensation increase 4 3.5 3.5 3.5 NA NA NA NA Not applicable 1 HEI and the Utilities pension benefits discount rate only at December 31, 2022, 2021 and 2020. ASB’s pension benefits discount rate at December 31, 2022, 2021 and 2020 was 5.63%, 3.04% and 2.76%, respectively. All other disclosed rates apply to the Company and the Utilities. 2 ASB’s pension benefits discount rate for the year ended December 31, 2022, 2021 and 2020 was 3.04%, 2.76% and 3.49%. All other disclosed rates apply to the Company and the Utilities. 3 HEI and the Utilities’ plan assets only (gross return). For 2022, 2021 and 2020, ASB’s expected return on plan assets was 3.24%, 2.96% and 3.69%, respectively. 4 HEI and the Utilities use a graded rate of compensation increase assumption based on age. The rate provided above is an average across all future years of service for the current population. NA for ASB. The Company and the Utilities based their selection of an assumed discount rate for 2023 NPPC and NPBC and December 31, 2022 disclosure on a cash flow matching analysis that utilized bond information provided by Bloomberg for all non-callable, high quality bonds (generally rated Aa or better) as of December 31, 2022. In selecting the expected rate of return on plan assets for 2023 NPPC and NPBC: a) HEI and the Utilities considered economic forecasts for the types of investments held by the plans (primarily equity and fixed income investments), the Plans’ asset allocations, industry and corporate surveys and the past performance of the plans’ assets in selecting 7.25% and b) ASB considered its liability-driven investment strategy in selecting 5.83%, which is consistent with the assumed discount rate as of December 31, 2022 with a 20 basis point active manager premium. For 2022, retirement benefit plans’ assets of both the Company and the Utilities had a net loss of (19.8)%. As of December 31, 2022, the assumed health care trend rates for 2023 and future years were as follows: medical, 6.50%, grading down to 5% for 2029 and thereafter; dental, 5%; and vision, 4%. As of December 31, 2021, the assumed health care trend rates for 2022 and future years were as follows: medical, 6.50%, grading down to 5% for 2028 and thereafter; dental, 5%; and vision, 4%. The components of NPPC and NPBC were as follows: Pension benefits Other benefits (in thousands) 2022 2021 2020 2022 2021 2020 HEI consolidated Service cost $ 78,173 $ 81,432 $ 73,387 $ 2,580 $ 2,827 $ 2,537 Interest cost 80,062 75,361 81,335 6,502 6,122 7,407 Expected return on plan assets (141,266) (132,223) (113,800) (13,621) (12,957) (12,124) Amortization of net prior service (gain) cost — — 8 (928) (1,533) (1,761) Amortization of net actuarial losses 27,412 27,245 33,456 (12) 203 208 Net periodic pension/benefit cost 44,381 51,815 74,386 (5,479) (5,338) (3,733) Impact of PUC D&Os 37,148 27,963 20,997 4,966 4,839 3,179 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 81,529 $ 79,778 $ 95,383 $ (513) $ (499) $ (554) Hawaiian Electric consolidated Service cost $ 75,845 $ 79,463 $ 71,604 $ 2,554 $ 2,802 $ 2,515 Interest cost 74,363 70,235 75,484 6,227 5,875 7,103 Expected return on plan assets (133,873) (125,404) (107,369) (13,381) (12,755) (11,957) Amortization of net prior service (gain) cost — — 9 (925) (1,530) (1,758) Amortization of net actuarial losses 26,358 27,534 30,566 — 206 207 Net periodic pension/benefit cost 42,693 51,828 70,294 (5,525) (5,402) (3,890) Impact of PUC D&Os 37,148 27,963 20,997 4,966 4,839 3,179 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 79,841 $ 79,791 $ 91,291 $ (559) $ (563) $ (711) The Company recorded pension expense of $47 million, $47 million, $59 million in 2022, 2021 and 2020, respectively, and OPEB income of $(0.1) million in 2022, 2021 and 2020 and charged the remaining amounts primarily to electric utility plant. The Utilities recorded pension expense of $45 million, $47 million and $55 million, respectively, and OPEB income of $(0.1) million, $(0.2) million and $(0.2) million in 2022, 2021 and 2020, respectively, and charged the remaining amounts primarily to electric utility plant. Additional information on the defined benefit pension plans’ accumulated benefit obligations (ABOs), which do not consider projected pay increases (unlike the PBOs shown in the table above), and pension plans with ABOs and PBOs in excess of plan assets were as follows: HEI consolidated Hawaiian Electric consolidated December 31 2022 2021 2022 2021 (in billions) Defined benefit plans - ABOs $ 1.7 $ 2.3 $ 1.5 $ 2.1 Defined benefit plans with PBOs in excess of plan assets PBOs 1.8 2.5 1.7 2.5 Fair value of plan assets 1.7 2.2 1.7 2.1 HEI consolidated . The Company estimates that the cash funding for the qualified defined benefit pension plans in 2023 will be $8 million, which will fully satisfy the ERISA minimum required contribution, the requirements of the Utilities’ pension tracking mechanisms and the Plan’s funding policy. The Company’s current estimate of contributions to its other postretirement benefit plans in 2023 is nil. As of December 31, 2022, the benefits expected to be paid under all retirement benefit plans in 2023, 2024, 2025, 2026, 2027 and 2028 through 2032 amount to $107 million, $111 million, $114 million, $117 million, $121 million and $655 million, respectively. Hawaiian Electric consolidated . The Utilities estimate that the cash funding for the qualified defined benefit pension plan in 2023 will be $8 million, which will fully satisfy the ERISA minimum required contribution, the requirements of the pension tracking mechanisms and the Plan’s funding policy. The Utilities’ current estimate of contributions to its other postretirement benefit plans in 2023 is nil. As of December 31, 2022, the benefits expected to be paid under all retirement benefit plans in 2023, 2024, 2025, 2026, 2027 and 2028 through 2032 amounted to $98 million, $101 million, $104 million, $107 million, $110 million and $601 million, respectively. Defined contribution plans information. For 2022, 2021 and 2020, the Company’s expense for its defined contribution plans under the HEIRSP and the ASB 401(k) Plan was $9 million, $6 million and $7 million, respectively; and its cash contributions were $7 million, $6 million and $7 million, respectively. Included in the 2022 amount are non-elective employer contributions for the Utilities and HEI employees first hired on or after January 1, 2022, equal to 10% of those new employees’ annual compensation. For each of 2022, 2021 and 2020 the Utilities’ expense and cash contributions for its defined contribution plan under the HEIRSP was $4 million, $3 million, and $3 million, respectively.

Share-based compensation

Share-based compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-based compensation	Note 11 · 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 December 31, 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 0.5 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). Restricted stock units awarded under the EIP in 2022, 2021, 2020 and 2019 will vest and be issued in unrestricted stock in three four Stock performance awards granted under the 2022-24, 2021-23 and 2020-22 long-term incentive plans (LTIP) entitle the grantee to shares of common stock with dividend equivalent rights once service conditions and performance conditions are satisfied at the end of the three-year performance period. LTIP awards are forfeited for terminations of employment during the performance period, except that pro-rata participation is provided for terminations due to death, disability and retirement based upon completed months of service after a minimum of 12 months of service in the performance period. Compensation expense for the stock performance awards portion of the LTIP has been recognized in accordance with the fair-value-based measurement method of accounting for performance shares. 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 December 31, 2022, there were 208,627 shares remaining available for future issuance under the 2011 Director Plan. Share-based compensation expense and the related income tax benefit were as follows: (in millions) 2022 2021 2020 HEI consolidated Share-based compensation expense 1 $ 10.4 $ 9.1 $ 5.8 Income tax benefit 2.1 1.4 1.0 Hawaiian Electric consolidated Share-based compensation expense 1 3.0 2.7 1.8 Income tax benefit 0.7 0.6 0.4 1 For 2022, 2021 and 2020, 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: (dollars in millions) 2022 2021 2020 Shares granted 35,720 29,816 36,100 Fair value $ 1.5 $ 1.3 $ 1.3 Income tax benefit 0.4 0.3 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: 2022 2021 2020 Shares (1) Shares (1) Shares (1) Outstanding, January 1 233,448 $ 38.10 193,939 $ 40.89 207,641 $ 35.36 Granted 98,463 41.31 137,582 34.66 78,595 47.99 Vested (96,282) 37.75 (79,623) 38.51 (77,719) 34.19 Forfeited (53,101) 39.01 (18,450) 39.92 (14,578) 36.20 Outstanding, December 31 182,528 $ 39.75 233,448 $ 38.10 193,939 $ 40.89 Total weighted-average grant-date fair value of shares granted (in millions) $ 4.1 $ 4.8 $ 3.8 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For 2022, 2021 and 2020, total restricted stock units and related dividends that vested had a fair value of $4.2 million, $3.0 million and $4.2 million, respectively, and the related tax benefits were $0.6 million, $0.6 million and $0.7 million, respectively. As of December 31, 2022, there was $4.3 million of total unrecognized compensation cost related to the nonvested restricted stock units. The cost is expected to be recognized over a weighted-average period of 1.7 years. Long-term incentive plan payable in stock. The 2020-22, 2021-23 and 2022-24 LTIPs 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: 2022 2021 2020 Shares (1) Shares (1) Shares (1) Outstanding, January 1 90,974 $ 42.86 89,222 $ 42.10 96,402 $ 39.62 Granted 26,469 54.92 46,024 41.12 24,630 48.62 Vested (issued or unissued and cancelled) (29,042) 41.07 (32,355) 38.20 (29,409) 39.51 Forfeited (16,827) 44.45 (11,917) 43.07 (2,401) 41.22 Outstanding, December 31 71,574 $ 47.67 90,974 $ 42.86 89,222 $ 42.10 Total weighted-average grant-date fair value of shares granted (in millions) $ 1.5 $ 1.9 $ 1.2 (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 2020 Risk-free interest rate 1.71 % 0.19 % 1.39 % Expected life in years 3 3 3 Expected volatility 31.0 % 29.9 % 13.1 % Range of expected volatility for Peer Group 25.4% to 76.7% 25.6% to 102.9% 13.6% to 95.4% Grant date fair value (per share) $ 54.92 $ 41.12 $ 48.62 For 2022, 2021 and 2020, total vested LTIP awards linked to TSR and related dividends had a fair value of $0.8 million, $0.8 million and $2.6 million, respectively, and the related tax benefits were $0.1 million, $0.2 million and $0.4 million, respectively. As of December 31, 2022, there was $1.2 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 1.5 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: 2022 2021 2020 Shares (1) Shares (1) Shares (1) Outstanding, January 1 306,342 $ 38.42 220,715 $ 41.03 403,768 $ 35.15 Granted 105,860 41.31 184,102 34.37 98,522 48.10 Vested (71,807) 37.68 (43,155) 34.12 (135,804) 33.48 Increase above target (cancelled) 36,505 35.75 (7,646) 39.06 (136,163) 36.44 Forfeited (67,311) 37.35 (47,674) 38.74 (9,608) 38.36 Outstanding, December 31 309,589 $ 39.50 306,342 $ 38.42 220,715 $ 41.03 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 4.4 $ 6.3 $ 4.7 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For 2022, 2021 and 2020, total vested LTIP awards linked to other performance conditions and related dividends had a fair value of $3.2 million, $1.7 million and $7.6 million, respectively, and the related tax benefits were $0.4 million, $0.4 million and $1.2 million, respectively.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income taxes	Note 12 · Income taxes The components of income taxes attributable to net income for common stock were as follows: HEI consolidated Hawaiian Electric consolidated Years ended December 31 2022 2021 2020 2022 2021 2020 (in thousands) Federal Current $ 77,595 $ 51,455 $ 23,207 $ 75,118 $ 42,794 $ 31,950 Deferred (37,410) (11,689) (4,215) (39,646) (12,109) (5,408) Deferred tax credits, net* 4,031 4,611 10,979 137 302 1,549 44,216 44,377 29,971 35,609 30,987 28,091 State Current 11,981 12,119 8,430 15,780 4,861 3,768 Deferred 4,914 6,290 2,509 (1,769) 8,279 8,559 Deferred tax credits, net* 56 21 — 56 21 — 16,951 18,430 10,939 14,067 13,161 12,327 Total $ 61,167 $ 62,807 $ 40,910 $ 49,676 $ 44,148 $ 40,418 * In 2022, 2021 and 2020, primarily represents federal tax credits related to Mauo’s solar-plus-storage project, deferred and amortized starting in 2022, 2021 and 2020, respectively. A reconciliation of the amount of income taxes computed at the federal statutory rate to the amount provided in the consolidated statements of income was as follows: HEI consolidated Hawaiian Electric consolidated Years ended December 31 2022 2021 2020 2022 2021 2020 (in thousands) Amount at the federal statutory income tax rate $ 63,881 $ 65,281 $ 50,531 $ 50,526 $ 46,995 $ 44,468 Increase (decrease) resulting from: State income taxes, net of federal income tax benefit 14,438 15,735 9,448 11,026 10,323 9,658 Net deferred tax asset (liability) adjustment related to the Tax Act (9,886) (9,886) (11,267) (9,886) (9,886) (11,267) Other, net (7,266) (8,323) (7,802) (1,990) (3,284) (2,441) Total $ 61,167 $ 62,807 $ 40,910 $ 49,676 $ 44,148 $ 40,418 Effective income tax rate (%) 20.1 20.2 17.0 20.6 19.7 19.1 The tax effects of book and tax basis differences that give rise to deferred tax assets and liabilities were as follows: HEI consolidated Hawaiian Electric consolidated December 31 2022 2021 2022 2021 (in thousands) Deferred tax assets Regulatory liabilities, excluding amounts attributable to property, plant and equipment $ 82,488 $ 87,817 $ 82,488 $ 87,817 Operating lease liabilities 45,016 35,449 37,472 29,661 Retirement benefits 7,692 — 6,852 — Revenue taxes 51,392 35,040 51,392 35,040 Allowance for bad debts 22,734 26,217 2,195 7,156 Available-for-sale investments 120,405 11,728 — — Other 1 39,399 46,790 20,287 20,529 Total deferred tax assets 369,126 243,041 200,686 180,203 Deferred tax liabilities Property, plant and equipment related 511,832 500,659 497,929 490,713 Operating lease right-of-use assets 44,461 35,271 37,472 29,661 Regulatory assets, excluding amounts attributable to property, plant and equipment 22,183 23,700 22,183 23,700 Retirement benefits — 6,863 — 8,261 Other 53,112 61,308 27,532 36,502 Total deferred tax liabilities 631,588 627,801 585,116 588,837 Net deferred income tax liability $ 262,462 $ 384,760 $ 384,430 $ 408,634 1 As of December 31, 2022, HEI consolidated has deferred tax assets of $4.3 million relating to the benefit of state tax credit carryforwards of $5.6 million. These state tax credit carryforwards primarily relate to the West Loch PV project and do not expire. The Company concluded that as of December 31, 2022, a valuation allowance is not required. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences are deductible. Based upon historical taxable income and projections for future taxable income, management believes it is more likely than not the Company and the Utilities will realize substantially all of the benefits of the deferred tax assets. As of December 31, 2022 and 2021, valuation allowances for deferred tax benefits were nil. The Utilities are included in the consolidated federal and Hawaii income tax returns of HEI and are subject to the provisions of HEI’s tax sharing agreement, which determines each subsidiary’s (or subgroup’s) income tax return liabilities and refunds on a standalone basis as if it filed a separate return (or subgroup consolidated return). The following is a reconciliation of the Company’s liability for unrecognized tax benefits for 2022, 2021 and 2020. HEI consolidated Hawaiian Electric consolidated (in millions) 2022 2021 2020 2022 2021 2020 Unrecognized tax benefits, January 1 $ 17.1 $ 12.7 $ 2.2 $ 11.6 $ 12.7 $ 1.7 Additions based on tax positions taken during the year 19.0 2.8 0.2 0.1 0.3 0.2 Reductions based on tax positions taken during the year (3.5) (0.5) — — — — Additions for tax positions of prior years 0.6 7.6 11.6 0.2 0.2 11.6 Reductions for tax positions of prior years (2.6) (5.5) (0.1) (0.2) (1.6) (0.1) Lapses of statute of limitations — — (0.2) — — (0.2) Settlement — — (1.0) — — (0.5) Unrecognized tax benefits, December 31 $ 30.6 $ 17.1 $ 12.7 $ 11.7 $ 11.6 $ 12.7 At December 31, 2022 and 2021, there were $10.2 million of unrecognized tax benefits that, if recognized, would affect the Company’s and Utilities’ annual effective tax rate. HEI consolidated. The Company recognizes interest accrued related to unrecognized tax benefits in “Interest expense-other than on deposit liabilities and other bank borrowings” and penalties, if any, in operating expenses. In 2022, 2021 and 2020, the Company recognized approximately $0.4 million, $0.2 million and $(0.5) million, respectively, in interest expense. The Company had $0.6 million and $0.3 million of interest accrued as of December 31, 2022 and 2021, respectively. Hawaiian Electric consolidated. The Utilities recognize interest accrued related to unrecognized tax benefits in “Interest expense and other charges, net” and penalties, if any, in operating expenses. In 2022, 2021 and 2020, the Utilities recognized approximately $0.1 million, $0.1 million and $(0.3) million, respectively, in interest expense. The Utilities had $0.2 million and $0.1 million of interest accrued as of December 31, 2022 and 2021, respectively. As of December 31, 2022, the disclosures above present the Company’s and the Utilities’ accruals for potential tax liabilities, which involve management’s judgment regarding the likelihood of the benefits being sustained under governmental review. While the Company and the Utilities currently do not expect material changes to occur in the next twelve months, the Company and the Utilities are generally unable to estimate the range of impacts on the balance of uncertain tax positions or the impact on the effective tax rate from the resolution of these issues until the Internal Revenue Service addresses them in the current examination process, and therefore, it is possible that the amount of unrecognized benefit with respect to the Company’s and the Utilities’ uncertain tax positions could increase or decrease within the next 12 months. The final resolution of uncertain tax positions could result in adjustments to recorded amounts. Based on information currently available, the Company and the Utilities believe these accruals have adequately provided for potential income tax issues with federal and state tax authorities, and that the ultimate resolution of tax issues for all open tax periods will not have a material adverse effect on its results of operations, financial condition or liquidity. The statute of limitations for IRS examinations has expired for years prior to 2017. The Company is currently under IRS examination for the tax years 2017 and 2018. In the fourth quarter of 2020, the Company and the Hawaii Department of Taxation agreed to a final assessment of tax liabilities for the years 2011 through 2018, however, the statute of limitations for Hawaii remains open for tax years 2017 and subsequent. Tax developments. The Inflation Reduction Act of 2022 (IRA) was signed by President Biden on August 16, 2022. Key provisions under the IRA include a 15% corporate alternative minimum tax (CAMT) imposed on certain large corporations and a 1% excise tax on stock repurchases after December 31, 2022. Based on current interpretation of the law and current guidance available we do not believe HEI will be impacted by the CAMT or stock repurchase excise tax provisions. The IRA also creates new tax credits and enhances others to stimulate investment in renewable energy sources. Certain provisions of the IRA will become effective beginning tax year 2023. The Company continues to monitor guidance and assess related tax planning opportunities.

Cash flows

Cash flows	12 Months Ended
	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash flows	Note 13 · Cash flows Years ended December 31 2022 2021 2020 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 106 $ 98 $ 98 Income taxes paid (net of refundable credits) 41 41 32 Income taxes refunded (including refundable credits) 2 7 3 Hawaiian Electric consolidated Interest paid to non-affiliates, net of amounts capitalized 69 71 65 Income taxes paid (net of refundable credits) 67 45 41 Income taxes refunded (including refundable credits) — 5 3 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment-Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 68 48 44 Loans transferred from held for investment to held for sale (investing) — 61 — Real estate transferred from property, plant and equipment to other assets held-for-sale (investing) — 3 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 51 44 26 Property, plant, equipment and other assets received in exchange for the assumption of debt associated with a business acquisition (investing) 68 — — Debt, lease liabilities and other liabilities assumed in business acquisition (financing) 68 — — Common stock issued (gross) for director and executive/management compensation (financing) 1 10 7 16 Obligations to fund low income housing investments, net (investing) 9 36 25 Transfer of securities from available for sale to held to maturities (investing) 755 — — Hawaiian Electric consolidated Electric utility property, plant and equipment-Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 64 43 41 Right-of-use assets obtained in exchange for operating lease obligations (investing) 44 44 17 HEI Consolidated and Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 14 8 10 Increase related to an acquisition (investing) 15 — — Right-of-use assets obtained in exchange for finance lease obligations (financing) 48 — — Reduction of long-term debt from funds previously transferred for repayment (financing) — — 82 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.

Regulatory restrictions on net

Regulatory restrictions on net assets	12 Months Ended
	Dec. 31, 2022
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Regulatory restrictions on net assets	Note 14 · Regulatory restrictions on net assets The abilities of certain of HEI’s subsidiaries to pay dividends or make other distributions to HEI are subject to contractual and regulatory restrictions. Under the PUC Agreement, in the event that the consolidated common stock equity of the electric utility subsidiaries falls below 35% of the total capitalization of the electric utilities (including the current maturities of long-term debt, but excluding short-term borrowings), the electric utility subsidiaries would, absent PUC approval, be restricted in their payment of cash dividends to 80% of the earnings available for the payment of dividends in the current fiscal year and preceding five years, less the amount of dividends paid during that period. The PUC Agreement also provides that the foregoing dividend restriction shall not be construed as relinquishing any right the PUC may have to review the dividend policies of the electric utility subsidiaries. As of December 31, 2022, the consolidated common stock equity of HEI’s electric utility subsidiaries was 57% of their total capitalization (as calculated for purposes of the PUC Agreement). As of December 31, 2022, Hawaiian Electric and its subsidiaries had common stock equity of $2.3 billion of which approximately $951 million was not available for transfer to HEI in the form of dividends, loans or advances without regulatory approval. The ability of ASB to make capital distributions to HEI and other affiliates is restricted under federal law. Subject to a limited exception for stock redemptions that do not result in any decrease in ASB’s capital and would improve ASB’s financial condition, ASB is prohibited from declaring any dividends, making any other capital distributions, or paying a management fee to a controlling person if, following the distribution or payment, ASB would be deemed to be undercapitalized, significantly undercapitalized or critically undercapitalized. ASB is required to notify the FRB and OCC prior to making any capital distribution (including dividends) to HEI (through ASB Hawaii). All dividends are subject to review by the OCC and FRB and receipt of a letter from the FRB communicating the agencies’ non-objection to the payment of any dividend ASB proposes to declare and pay to ASB Hawaii and HEI. Generally, the FRB and OCC may disapprove or deny ASB’s request to make a capital distribution if the proposed distribution will cause ASB to become undercapitalized, or the proposed distribution raises safety and soundness concerns, or the proposed distribution violates a prohibition contained in any statute, regulation or agreement between ASB and the OCC. As of December 31, 2022, ASB could transfer approximately $194 million of net assets to HEI and maintain its “well-capitalized” position. HEI and its subsidiaries are also subject to debt covenants, preferred stock resolutions and the terms of guarantees that could limit their respective abilities to pay dividends. The Company does not expect that the regulatory and contractual restrictions applicable to HEI and/or its subsidiaries will significantly affect the operations of HEI or its ability to pay dividends on its common stock.

Significant group concentration

Significant group concentrations of credit risk	12 Months Ended
	Dec. 31, 2022
Risks and Uncertainties [Abstract]
Significant group concentrations of credit risk	Note 15 · Significant group concentrations of credit risk Most of the Company’s business activity is with customers located in the State of Hawaii. The Utilities are regulated operating electric public utilities engaged in the generation, purchase, transmission, distribution and sale of electricity on the islands of Oahu, Hawaii, Maui, Lanai and Molokai in the State of Hawaii. The Utilities provide the only electric public utility service on the islands they serve. The Utilities extend credit to customers, all of whom reside or conduct business in the State of Hawaii. See Note 3 for a discussion of the Utilities’ major customers. The International Brotherhood of Electrical Workers Local 1260 represents roughly half of the Utilities’ workforce covered by a collective bargaining agreement that expires on October 31, 2024. Most of ASB’s financial instruments are based in the State of Hawaii, except for the investment securities it owns. Substantially all real estate loans are collateralized by real estate in Hawaii. ASB’s policy is to require mortgage insurance on all real estate loans with a loan to appraisal ratio in excess of 80% at origination. Pacific Current’s investments are in projects located in the State of Hawaii since its strategy is focused on investing in non-regulated renewable energy and sustainable infrastructure in the State of Hawaii.

Fair value measurements

Fair value measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair value measurements	Note 16 · Fair value measurements Fair value measurement and disclosure valuation methodology. The following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value: Short-term borrowings—other than bank . The carrying amount of short-term borrowings approximated fair value because of the short maturity of these instruments. Investment securities . The fair value of ASB’s investment securities is determined quarterly through pricing obtained from independent third-party pricing services or from brokers not affiliated with the trade. Non-binding broker quotes are infrequent and generally occur for new securities that are settled close to the month-end pricing date. The third-party pricing vendors ASB uses for pricing its securities are reputable firms that provide pricing services on a global basis and have processes in place to ensure quality and control. The third-party pricing services use a variety of methods to determine the fair value of securities that fall under Level 2 of ASB’s fair value measurement hierarchy. Among the considerations are quoted prices for similar securities in an active market, yield spreads for similar trades, adjustments for liquidity, size, collateral characteristics, historic and generic prepayment speeds, and other observable market factors. To enhance the robustness of the pricing process, ASB will on a quarterly basis compare its standard third-party vendor’s price with that of another third-party vendor. If the prices are within an acceptable tolerance range, the price of the standard vendor will be accepted. If the variance is beyond the tolerance range, an evaluation will be conducted by ASB and a challenge to the price may be made. Fair value in such cases will be based on the value that best reflects the data and observable characteristics of the security. In all cases, the fair value used will have been independently determined by a third-party pricing vendor or non-affiliated broker. The fair value of the mortgage revenue bonds is estimated using a discounted cash flow model to calculate the present value of future principal and interest payments and, therefore is classified within Level 3 of the valuation hierarchy. Loans held for sale . Residential and commercial loans are carried at the lower of cost or market and are valued using market observable pricing inputs, which are derived from third party loan sales and, therefore, are classified within Level 2 of the valuation hierarchy. Loans held for investment . Fair value of loans held for investment is derived using a discounted cash flow approach which includes an evaluation of the underlying loan characteristics. The valuation model uses loan characteristics which includes product type, maturity dates and the underlying interest rate of the portfolio. This information is input into the valuation models along with various forecast valuation assumptions including prepayment forecasts, to determine the discount rate. These assumptions are derived from internal and third party sources. Since the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Collateral dependent loans . Collateral dependent loans have been adjusted to fair value. When a loan is identified as collateral dependent, the Company measures the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases, the value of the collateral may be estimated as having little or no value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. If it is determined that the value of the collateral dependent loan is less than its recorded investment, the Company recognizes this impairment and adjusts the carrying value of the loan to fair value through the allowance for credit losses. Real estate acquired in settlement of loans . Foreclosed assets are initially measured at fair value (less estimated costs to sell) and subsequently measured at the lower of the carrying value or fair value less selling costs. Fair values are generally based upon appraisals or independent market prices that are periodically updated subsequent to classification as real estate owned. Such adjustments typically result in a Level 3 classification of the inputs for determining fair value. ASB estimates the fair value of collateral-dependent loans and real estate owned using the sales comparison approach. Mortgage servicing rights . MSRs are capitalized at fair value based on market data at the time of sale and accounted for in subsequent periods at the lower of amortized cost or fair value. MSRs are evaluated for impairment at each reporting date. ASB's MSRs are stratified based on predominant risk characteristics of the underlying loans including loan type and note rate. For each stratum, fair value is calculated by discounting expected net income streams using discount rates that reflect industry pricing for similar assets. Expected net income streams are estimated based on industry assumptions regarding prepayment expectations and income and expenses associated with servicing residential mortgage loans for others. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servicing fees included in “Revenues - bank” in the consolidated statements of income. A direct write-down is recorded when the recoverability of the valuation allowance is deemed to be unrecoverable. ASB compares the fair value of MSRs to an estimated value calculated by an independent third-party. The third-party relies on both published and unpublished sources of market related assumptions and its own experience and expertise to arrive at a value. ASB uses the third-party value only to assess the reasonableness of its own estimate. ASB includes MSRs within Level 3 of the valuation hierarchy. Time deposits . The fair value of fixed-maturity certificates of deposit was estimated by discounting the future cash flows using the rates currently offered for FHLB advances of similar remaining maturities. Deposit liabilities are classified in Level 2 of the valuation hierarchy. Other borrowings . For advances and repurchase agreements, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of fixed-rate long-term debt—other than bank was obtained from third-party financial services providers based on the current rates offered for debt of the same or similar remaining maturities and from discounting the future cash flows using the current rates offered for debt of the same or similar risks, terms, and remaining maturities. The carrying amount of floating rate long-term debt—other than bank approximated fair value because of the short-term interest reset periods. Long-term debt—other than bank is classified in Level 2 of the valuation hierarchy. Interest rate lock commitments (IRLCs) . The estimated fair value of commitments to originate residential mortgage loans for sale is based on quoted prices for similar loans in active markets. IRLCs are classified as Level 2 measurements. Forward sales commitments . To be announced (TBA) mortgage-backed securities forward commitments are classified as Level 1, and consist of publicly-traded debt securities for which identical fair values can be obtained through quoted market prices in active exchange markets. The fair values of ASB’s best efforts and mandatory delivery loan sale commitments are determined using quoted prices in the 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 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs Total December 31, 2022 Financial assets HEI consolidated Available-for-sale investment securities $ 1,429,667 $ — $ 1,414,765 $ 14,902 $ 1,429,667 Held-to-maturity investment securities 1,251,747 — 1,150,971 — 1,150,971 Loans, net 5,907,514 — 821 5,453,381 5,454,202 Mortgage servicing rights 9,047 — — 17,646 17,646 Derivative assets 16,220 18 1,330 — 1,348 Financial liabilities HEI consolidated Deposit liabilities 611,718 — 597,617 — 597,617 Short-term borrowings—other than bank 172,568 — 172,568 — 172,568 Other bank borrowings 695,120 — 695,095 — 695,095 Long-term debt, net—other than bank 2,384,980 — 2,122,605 — 2,122,605 Derivative liabilities 22,949 — 472 — 472 Hawaiian Electric consolidated Short-term borrowings 87,967 — 87,967 — 87,967 Long-term debt, net 1,684,816 — 1,487,496 — 1,487,496 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: December 31 2022 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 $ — $ 1,292,968 $ — $ — $ 2,437,923 $ — U.S. Treasury and federal agency obligations — 81,063 — — 90,090 — Corporate bonds — 40,734 — — 31,178 — Mortgage revenue bonds — — 14,902 — — 15,427 $ — $ 1,414,765 $ 14,902 $ — $ 2,559,191 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 9 $ — $ — $ 638 $ — Forward commitments (bank segment) 1 18 — — — — — Interest rate swap (Other segment) 2 — 1,321 — — 271 — $ 18 $ 1,330 $ — $ — $ 909 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ — $ — Forward commitments (bank segment) 1 — — — 11 — — Interest rate swap (Other segment) 2 — 472 — — 5,271 — $ — $ 472 $ — $ 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. There were no transfers of financial assets and liabilities between Level 1 and Level 2 of the fair value hierarchy during the years ended December 31, 2022 and 2021. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: (in thousands) 2022 2021 Mortgage revenue bonds Balance, January 1 $ 15,427 $ 27,185 Principal payments received (525) (11,758) Purchases — Unrealized gain (loss) included in other comprehensive income — — Balance, December 31 $ 14,902 $ 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 December 31, 2022, the weighted average discount rate was 4.89% 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 December 31, 2022 and 2021, there were no financial instruments measured at fair value on a nonrecurring basis. For 2022 and 2021, there were no adjustments to fair value for ASB’s loans held for sale.

SCHEDULE I - CONDENSED FINANCIA

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT	SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT HAWAIIAN ELECTRIC INDUSTRIES, INC. (PARENT COMPANY) CONDENSED BALANCE SHEETS December 31 2022 2021 (dollars in thousands) Assets Cash and cash equivalents $ 611 $ 479 Accounts receivable 946 873 Notes receivable from subsidiaries 1,140 — Property, plant and equipment, net 1,877 2,052 Deferred income tax assets 12,107 17,000 Other assets and intercompany receivables 17,695 15,940 Investments in subsidiaries, at equity 2,894,856 3,025,729 Total assets $ 2,929,232 $ 3,062,073 Liabilities and shareholders’ equity Liabilities Accounts payable $ 797 $ 914 Interest payable 1,554 2,238 Commercial paper 49,683 53,998 Short-term debt, net 34,918 — Long-term debt, net 557,874 548,480 Retirement benefits liability 21,983 26,340 Other 59,924 39,219 Total liabilities 726,733 671,189 Shareholders’ equity Preferred stock, no par value, authorized 10,000,000 shares; issued: none — — Common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 109,470,795 shares and 109,311,785 shares at December 31, 2022 and 2021, respectively 1,692,697 1,685,496 Retained earnings 845,830 757,921 Accumulated other comprehensive loss, net of tax benefits (336,028) (52,533) Total shareholders’ equity 2,202,499 2,390,884 Total liabilities and shareholders’ equity $ 2,929,232 $ 3,062,073 SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (continued) HAWAIIAN ELECTRIC INDUSTRIES, INC. (PARENT COMPANY) CONDENSED STATEMENTS OF INCOME Years ended December 31 2022 2021 2020 (in thousands) Revenues $ 320 $ 105 $ 208 Equity in net income of subsidiaries 273,076 278,743 227,098 Expenses: Operating, administrative and general 20,850 24,006 20,731 Depreciation of property, plant and equipment 399 414 485 Taxes, other than income taxes 732 514 654 Total expenses 21,981 24,934 21,870 Income before interest expense and income tax benefits 251,415 253,914 205,436 Retirement defined benefits credit (expense)—other than service costs 147 (114) 634 Interest expense 21,997 18,444 18,237 Income before income tax benefits 229,271 235,584 186,565 Income tax benefits 11,867 10,582 11,259 Net income $ 241,138 $ 246,166 $ 197,824 HAWAIIAN ELECTRIC INDUSTRIES, INC. (PARENT COMPANY) STATEMENTS OF COMPREHENSIVE INCOME STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY Incorporated by reference are HEI and Subsidiaries’ Statements of Consolidated Comprehensive Income and Consolidated Statements of Changes in Shareholders’ Equity in Part II, Item 8. SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (continued) HAWAIIAN ELECTRIC INDUSTRIES, INC. (PARENT COMPANY) CONDENSED STATEMENTS OF CASH FLOWS Years ended December 31 2022 2021 2020 (in thousands) Net cash provided by operating activities $ 167,150 $ 154,151 $ 134,363 Cash flows from investing activities Increase in note receivable from subsidiary (1,140) — — Decrease in note receivable from subsidiary — — 22,719 Capital expenditures (224) (10) (20) Investments in subsidiaries (50,629) (76,232) (42,664) Other 1,662 180 2,435 Net cash used in investing activities (50,331) (76,062) (17,530) Cash flows from financing activities Net decrease in short-term borrowings with original maturities of three months or less (4,315) (10,493) (32,232) Proceeds from issuance of short-term debt 35,000 — 65,000 Repayment of short-term debt — (15,000) (50,000) Proceeds from issuance of long-term debt 160,000 150,000 50,000 Repayment of long-term debt (150,000) (50,000) — Proceeds from issuance of syndicated credit facility — — 66,300 Repayment of syndicated credit facility — — (66,300) Withheld shares for employee taxes on vested share-based compensation (3,165) (2,006) (5,700) Common stock dividends (153,229) (148,643) (144,096) Other (978) (1,767) (459) Net cash used in financing activities (116,687) (77,909) (117,487) Net increase (decrease) in cash and equivalents 132 180 (654) Cash and cash equivalents, January 1 479 299 953 Cash and cash equivalents, December 31 $ 611 $ 479 $ 299 NOTES TO CONDENSED FINANCIAL INFORMATION Basis of Presentation The “Notes to Consolidated Financial Statements” in Part II, Item 8 should be read in conjunction with the above HEI (Parent Company) financial statements. All HEI subsidiaries are reflected in the Condensed Financial Statements under the equity method. Income taxes for equity method investments are included in “Equity in net income of subsidiaries.” Long-term debt The components of long-term debt, net, were as follows: December 31 2022 2021 (dollars in thousands) HEI 2.99% term loan, paid in 2022 $ — $ 150,000 HEI 3.99% senior notes, due 2023 50,000 50,000 HEI 4.58% senior notes, due 2025 50,000 50,000 HEI 4.72% senior notes, due 2028 100,000 100,000 HEI 2.82% senior notes, due 2028 24,000 24,000 HEI 2.48% senior notes, due 2028 30,000 30,000 HEI 2.98% senior notes, due 2030 50,000 50,000 HEI 3.15% senior notes, due 2031 51,000 51,000 HEI 2.78% senior notes, due 2031 25,000 25,000 HEI 2.98% senior notes, due 2032 30,000 — HEI 5.43% senior notes, due 2032 75,000 — HEI 5.43% senior notes, due 2034 35,000 — HEI 3.74% senior notes, due 2051 20,000 20,000 HEI 3.94% senior notes, due 2052 20,000 — Less unamortized debt issuance costs (2,126) (1,520) Long-term debt, net $ 557,874 $ 548,480 The aggregate payments of principal required within five years after December 31, 2022 on long-term debt are $50 million in 2023, nil in 2024, $50 million in 2025, nil in 2026, nil for 2027, and $460 million thereafter. Income taxes The Company’s financial reporting policy for income tax allocations is based upon a separate entity concept whereby each subsidiary provides income tax expense (or benefits) as if each were a separate taxable entity. The difference between the aggregate separate tax return income tax provisions and the consolidated financial reporting income tax provision is charged or credited to HEI’s separate tax provision. Dividends from HEI subsidiaries In 2022, 2021 and 2020, cash dividends received from subsidiaries were $168 million, $172 million and $145 million, respectively. Supplemental disclosures of noncash activities In 2022, 2021 and 2020, $1.9 million, $2.1 million and $2.3 million, respectively, of HEI accounts receivable from ASB Hawaii were reduced with a corresponding reduction in HEI notes payable to ASB Hawaii in noncash transactions. In 2022, 2021 and 2020, $1.9 million, $2.1 million and $2.3 million, respectively, were contributed as equity by HEI into ASB Hawaii with a corresponding increase in HEI notes payable to ASB Hawaii in noncash transactions. Under the HEI DRIP, common stock dividends reinvested by shareholders in HEI common stock in noncash transactions was immaterial for 2022, 2021 and 2020 as HEI satisfied the share purchase requirements of the DRIP in 2022, 2021 and 2020 through open market purchases of its common stock rather than new issuances.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS Years ended December 31, 2022, 2021 and 2020 Col. A Col. B Col. C Col. D Col. E (in thousands) Additions Description Balance Charged to Charged Deductions Balance at 2022 Allowance for uncollectible accounts – electric utility $ 26,100 $ 6,028 $ (14,626) (a) $ 11,391 (b) $ 6,111 2021 Allowance for uncollectible accounts – electric utility $ 17,809 $ 4,183 $ 11,795 (a) $ 7,687 (b) $ 26,100 2020 Allowance for uncollectible accounts – electric utility $ 1,377 $ 2,100 $ 18,041 (a) $ 3,709 (b) $ 17,809 (a) Includes recoveries, ($16,200) of recoveries from previous deferred bad debt expense for 2022 as well as $10,700 and $16,700 of bad debt expenses for 2021 and 2020, respectively, that have been deferred to regulatory assets pursuant to a PUC order as the recovery is probable. Total deferred bad debt expense of $10,700 in 2021 is net of a $2,000 reversal associated with customer bill credits to be provided under the Utilities’ bill forgiveness program. (b) Bad debts charged off.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	In preparing the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Actual results could differ significantly from those estimates.
Use of estimates	Material estimates that are particularly susceptible to significant change for HEI and its subsidiaries (collectively, the Company) include the amounts reported as fair value for investment securities (ASB only); pension and other postretirement benefit obligations; contingencies and litigation; income taxes; regulatory assets and liabilities (Utilities only); asset retirement obligations (Utilities only); and allowance for credit losses (ASB only).
Consolidation	The HEI consolidated financial statements include the accounts of HEI and its subsidiaries. The Hawaiian Electric consolidated financial statements include the accounts of Hawaiian Electric and its subsidiaries. When HEI or Hawaiian Electric has a controlling financial interest in another entity (usually, majority voting interest), that entity is consolidated. Investments in companies over which the Company or the Utilities have the ability to exercise significant influence, but not control, are accounted for using the equity method. The consolidated financial statements exclude variable interest entities (VIEs) when the Company or the Utilities are not the primary beneficiaries. Significant intercompany amounts are eliminated in consolidation
Cash and cash equivalents	The Utilities consider cash on hand, deposits in banks, money market accounts, certificates of deposit, short-term commercial paper of non-affiliates and liquid investments (with original maturities of three months or less) to be cash and cash equivalents. The Company considers the same items to be cash and cash equivalents as well as ASB’s deposits with the Federal Home Loan Bank (FHLB), federal funds sold (excess funds that ASB loans to other banks overnight at the federal funds rate) and securities purchased under resale agreements with original maturities of three months or less.
Restricted cash	The Utilities consider funds on deposit with trustees, which represent the undrawn proceeds from the issuance of special purpose revenue bonds, to be restricted cash because these funds are available only to finance (or reimburse payment of) approved capital expenditures. In addition to the Utilities’ funds on deposit with trustees, the Company considers cash held by trustees, related to non-recourse loans at Pacific Current subsidiaries, to be restricted cash.
Property, plant and equipment	Property, plant and equipment are reported at cost. Self-constructed electric utility plant includes engineering, supervision, administrative and general costs and an allowance for the cost of funds used during the construction period. These costs are recorded in construction in progress and are transferred to utility plant when construction is completed and the facilities are either placed in service or become useful for public utility purposes. Costs for betterments that make utility plant more useful, more efficient, of greater durability or of greater capacity are also capitalized. Upon the retirement or sale of electric utility plant, generally no gain or loss is recognized. The cost of the plant retired is charged to accumulated depreciation. Amounts collected from customers for cost of removal are included in regulatory liabilities.
Depreciation	Depreciation is computed primarily using the straight-line method over the estimated lives of the assets being depreciated. Electric utility plant additions in the current year are depreciated beginning January 1 of the following year in accordance with rate-making. Electric utility plant and Pacific Current generation assets have lives ranging from 16 to 51 years for production plant, from 10 to 79 years for transmission and distribution plant, and from 5 to 50 years for general plant.
Retirement benefits	Pension and other postretirement benefit costs are charged primarily to expense and electric utility plant (in the case of the Utilities). Funding for the Company’s qualified pension plans (Plans) is based on actuarial assumptions adopted by the Pension Investment Committee administering the Plans. The participating employers contribute amounts to pension trusts for the Plans in accordance with the funding requirements of the Employee Retirement Income Security Act of 1974, as amended (ERISA), including changes promulgated by the Pension Protection Act of 2006, and considering the deductibility of contributions under the Internal Revenue Code. The Company generally funds at least the net periodic pension cost during the year, subject to ERISA minimum and Internal Revenue Code limits and targeted funded status.Certain health care and/or life insurance benefits are provided to eligible retired employees and the employees’ beneficiaries and covered dependents. The Company generally funds the net periodic postretirement benefit costs other than pensions (except for executive life) for postretirement benefits other than pensions (OPEB), while maximizing the use of the most tax-advantaged funding vehicles, subject to cash flow requirements and reviews of the funded status with the consulting actuary.
Environmental expenditures	The Company and the Utilities are subject to numerous federal and state environmental statutes and regulations. In general, environmental contamination treatment costs are charged to expense. Environmental costs are capitalized if the costs extend the life, increase the capacity, or improve the safety or efficiency of property; the costs mitigate or prevent future environmental contamination; or the costs are incurred in preparing the property for sale. Environmental costs are either capitalized or charged to expense when environmental assessments and/or remedial efforts are probable and the cost can be reasonably estimated. The Utilities review their sites and measure the liability quarterly by assessing a range of reasonably likely costs of each identified site using currently available information, including existing technology, presently enacted laws and regulations, experience gained at similar sites, and the probable level of involvement and financial condition of other potentially responsible parties.
Income taxes	Deferred income tax assets and liabilities are established for the temporary differences between the financial reporting bases and the tax bases of the Company’s and the Utilities’ assets and liabilities at federal and state tax rates expected to be in effect when such deferred tax assets or liabilities are realized or settled. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount expected to be realized. HEI and the Utilities’ investment tax credits are deferred and amortized over the estimated useful lives of the properties to which the credits relate (and for the Utilities, this treatment is in accordance with Accounting Standards Codification (ASC) Topic 980, “Regulated Operations”). The Utilities are included in the consolidated income tax returns of HEI. However, income tax expense has been computed for financial statement purposes as if each utility filed a separate income tax return and Hawaiian Electric filed a consolidated Hawaiian Electric income tax return. Governmental tax authorities could challenge a tax return position taken by the Company. The Company and the Utilities use a “more-likely-than-not” recognition threshold and measurement standard for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.
Fair value measurements	Fair value estimates are estimates of the price that would be received to sell an asset, or paid upon the transfer of a liability, in an orderly transaction between market participants at the measurement date. The fair value estimates are generally determined based on assumptions that market participants would use in pricing the asset or liability and are based on market data obtained from independent sources. However, in certain cases, the Company and the Utilities use their own assumptions about market participant assumptions based on the best information available in the circumstances. These valuations are estimates at a specific point in time, based on relevant market information, information about the financial instrument and judgments regarding future expected loss experience, economic conditions, risk characteristics of various financial instruments and other factors. These estimates do not reflect any premium or discount that could result if the Company or the Utilities were to sell its entire holdings of a particular financial instrument at one time. Because no active trading market exists for a portion of the Company’s and the Utilities’ financial instruments, fair value estimates cannot be determined with precision. Changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the estimates. In addition, the tax ramifications related to the realization of the unrealized gains and losses could have a significant effect on fair value estimates, but have not been considered in making such estimates. The Company and the Utilities group their financial assets measured at fair value in three levels outlined as follows: Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and is used to measure fair value whenever available. Level 2: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that are derived principally from or can be corroborated by observable market data by correlation or other means. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using discounted cash flow methodologies, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Classification in the hierarchy is based upon the lowest level input that is significant to the fair value measurement of the asset or liability. For instruments classified in Level 1 and 2 where inputs are primarily based upon observable market data, there is less judgment applied in arriving at the fair value. For instruments classified in Level 3, management judgment is more significant due to the lack of observable market data. The Company reviews and updates the fair value hierarchy classifications on a quarterly basis. Changes from one quarter to the next related to the observability of inputs in fair value measurements may result in a reclassification between the fair value hierarchy levels and are recognized based on period-end balances. Fair value is also used on a nonrecurring basis to evaluate certain assets for impairment or for disclosure purposes. Examples of nonrecurring uses of fair value include mortgage servicing rights accounted for by the amortization method, loan impairments for certain loans, real estate acquired in settlement of loans, goodwill and asset retirement obligations (AROs). Fair value measurement and disclosure valuation methodology. The following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value: Short-term borrowings—other than bank . The carrying amount of short-term borrowings approximated fair value because of the short maturity of these instruments. Investment securities . The fair value of ASB’s investment securities is determined quarterly through pricing obtained from independent third-party pricing services or from brokers not affiliated with the trade. Non-binding broker quotes are infrequent and generally occur for new securities that are settled close to the month-end pricing date. The third-party pricing vendors ASB uses for pricing its securities are reputable firms that provide pricing services on a global basis and have processes in place to ensure quality and control. The third-party pricing services use a variety of methods to determine the fair value of securities that fall under Level 2 of ASB’s fair value measurement hierarchy. Among the considerations are quoted prices for similar securities in an active market, yield spreads for similar trades, adjustments for liquidity, size, collateral characteristics, historic and generic prepayment speeds, and other observable market factors. To enhance the robustness of the pricing process, ASB will on a quarterly basis compare its standard third-party vendor’s price with that of another third-party vendor. If the prices are within an acceptable tolerance range, the price of the standard vendor will be accepted. If the variance is beyond the tolerance range, an evaluation will be conducted by ASB and a challenge to the price may be made. Fair value in such cases will be based on the value that best reflects the data and observable characteristics of the security. In all cases, the fair value used will have been independently determined by a third-party pricing vendor or non-affiliated broker. The fair value of the mortgage revenue bonds is estimated using a discounted cash flow model to calculate the present value of future principal and interest payments and, therefore is classified within Level 3 of the valuation hierarchy. Loans held for sale . Residential and commercial loans are carried at the lower of cost or market and are valued using market observable pricing inputs, which are derived from third party loan sales and, therefore, are classified within Level 2 of the valuation hierarchy. Loans held for investment . Fair value of loans held for investment is derived using a discounted cash flow approach which includes an evaluation of the underlying loan characteristics. The valuation model uses loan characteristics which includes product type, maturity dates and the underlying interest rate of the portfolio. This information is input into the valuation models along with various forecast valuation assumptions including prepayment forecasts, to determine the discount rate. These assumptions are derived from internal and third party sources. Since the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Collateral dependent loans . Collateral dependent loans have been adjusted to fair value. When a loan is identified as collateral dependent, the Company measures the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases, the value of the collateral may be estimated as having little or no value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. If it is determined that the value of the collateral dependent loan is less than its recorded investment, the Company recognizes this impairment and adjusts the carrying value of the loan to fair value through the allowance for credit losses. Real estate acquired in settlement of loans . Foreclosed assets are initially measured at fair value (less estimated costs to sell) and subsequently measured at the lower of the carrying value or fair value less selling costs. Fair values are generally based upon appraisals or independent market prices that are periodically updated subsequent to classification as real estate owned. Such adjustments typically result in a Level 3 classification of the inputs for determining fair value. ASB estimates the fair value of collateral-dependent loans and real estate owned using the sales comparison approach. Mortgage servicing rights . MSRs are capitalized at fair value based on market data at the time of sale and accounted for in subsequent periods at the lower of amortized cost or fair value. MSRs are evaluated for impairment at each reporting date. ASB's MSRs are stratified based on predominant risk characteristics of the underlying loans including loan type and note rate. For each stratum, fair value is calculated by discounting expected net income streams using discount rates that reflect industry pricing for similar assets. Expected net income streams are estimated based on industry assumptions regarding prepayment expectations and income and expenses associated with servicing residential mortgage loans for others. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servicing fees included in “Revenues - bank” in the consolidated statements of income. A direct write-down is recorded when the recoverability of the valuation allowance is deemed to be unrecoverable. ASB compares the fair value of MSRs to an estimated value calculated by an independent third-party. The third-party relies on both published and unpublished sources of market related assumptions and its own experience and expertise to arrive at a value. ASB uses the third-party value only to assess the reasonableness of its own estimate. ASB includes MSRs within Level 3 of the valuation hierarchy. Time deposits . The fair value of fixed-maturity certificates of deposit was estimated by discounting the future cash flows using the rates currently offered for FHLB advances of similar remaining maturities. Deposit liabilities are classified in Level 2 of the valuation hierarchy. Other borrowings . For advances and repurchase agreements, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of fixed-rate long-term debt—other than bank was obtained from third-party financial services providers based on the current rates offered for debt of the same or similar remaining maturities and from discounting the future cash flows using the current rates offered for debt of the same or similar risks, terms, and remaining maturities. The carrying amount of floating rate long-term debt—other than bank approximated fair value because of the short-term interest reset periods. Long-term debt—other than bank is classified in Level 2 of the valuation hierarchy. Interest rate lock commitments (IRLCs) . The estimated fair value of commitments to originate residential mortgage loans for sale is based on quoted prices for similar loans in active markets. IRLCs are classified as Level 2 measurements. Forward sales commitments . To be announced (TBA) mortgage-backed securities forward commitments are classified as Level 1, and consist of publicly-traded debt securities for which identical fair values can be obtained through quoted market prices in active exchange markets. The fair values of ASB’s best efforts and mandatory delivery loan sale commitments are determined using quoted prices in the 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.
Earnings per share (HEI only)	Basic earnings per share (EPS) is computed by dividing net income for common stock by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed similarly, except that dilutive common shares for stock compensation is added to the denominator.
Impairment of long-lived assets and long-lived assets to be disposed of	The Company and the Utilities review long-lived assets and certain identifiable intangibles for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell.
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 (ASC 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
Electric utility
Regulation by the Public Utilities Commission of the State of Hawaii (PUC)	The Utilities are regulated by the PUC and account for the effects of regulation under FASB ASC Topic 980, “Regulated Operations.” As a result, the Utilities’ financial statements reflect assets, liabilities, revenues and expenses based on current cost-based rate-making regulations (see Note 3—“Regulatory assets and liabilities”). Their continued accounting under ASC Topic 980 generally requires that rates are established by an independent, third-party regulator; rates are designed to recover the costs of providing service; and it is reasonable to assume that rates can be charged to, and collected from, customers. Management believes that the operations of the Utilities, including the impact of the approved PBR Framework, currently satisfy the criteria under ASC Topic 980.The rate schedules of the Utilities include energy costs recovery clauses (ECRCs) under which electric rates are adjusted for changes in the weighted-average price paid for fuel oil and certain components of purchased power, and the relative amounts of company-generated power and purchased power. The rate schedules also include purchased power adjustment clauses (PPACs) under which the remaining purchase power expenses are recovered through surcharge mechanisms. The amounts collected through the ECRCs and PPACs are required to be reconciled quarterly.
Accounts receivable	Accounts receivable are recorded at the invoiced amount. The Utilities generally assess a late payment charge on balances unpaid from the previous month. The allowance for doubtful accounts is the Utilities’ best estimate of the amount of expected credit losses in the Utilities’ existing accounts receivable.
Electric utility revenues	Revenues related to electric service are generally recorded when service is rendered and include revenues applicable to energy consumed in the accounting period but not yet billed to the customers. The Utilities also record revenue under a decoupling mechanism.
Repairs and maintenance costs	Repairs and maintenance costs for overhauls of generating units are generally expensed as they are incurred.
Allowance for funds used during construction (AFUDC)	AFUDC represents the estimated costs of debt (i.e., interest) and equity funds used to finance plant construction. AFUDC is credited on the statement of income and charged to construction in progress on the balance sheet. If a project under construction is delayed for an extended period of time, AFUDC on the delayed project may be stopped after assessing the causes of the delay and probability of recovery. The tax gross up of the allowance for equity funds used during construction is credited to income taxes on the statement of income and charged to a regulatory asset. This gross up, net of amortization of the regulatory asset, is reflected in income tax expense.
Asset retirement obligations (AROs)	AROs are accounted for in accordance with ASC 410-20, Asset Retirement Obligations. AROs are recognized at present value of expected costs to retire long-lived assets from service, provided a legal obligation exists and a reasonable estimate of the fair value and the settlement date can be made. In the subsequent period, the liability is accreted to its future value while the asset retirement cost is depreciated over the estimated useful life of the underlying asset. The Utilities’ recognition of AROs have no impact on earnings, as the cost of the AROs are recovered over the life of the asset through depreciation. AROs recognized by the Utilities relate to legal obligations with the retirement of plant and equipment, including removal of asbestos and other hazardous materials.
Bank (HEI only)
Investment securities	Investments in debt securities are classified as held-to-maturity (HTM), trading or available-for-sale (AFS). ASB determines the appropriate classification at the time of purchase. Debt securities that ASB intends to and has the ability to hold to maturity are classified as HTM securities and reported at amortized cost. Marketable debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and reported at fair value, with unrealized gains and losses included in earnings. Marketable debt securities not classified as either HTM or trading securities are classified as AFS and reported at fair value. Unrealized gains and losses for AFS securities are excluded from earnings and reported on a net basis in accumulated other comprehensive income (AOCI) until realized. Transfers of debt securities from the available-for-sale classification to the held-to-maturity classification are made at fair value at the date of transfer. The unrealized holding gain or loss at the date of transfer remains in AOCI and in the carrying value of the held-to-maturity investment security. Unrealized holding gains or losses that remain in AOCI are amortized or accreted over the expected life of the security as an adjustment of yield, offsetting the related amortization of the premium or accretion of the discount. Interest income is recorded on an accrual basis. Discounts and premiums on securities are accreted or amortized into interest income using the interest method over the remaining contractual lives of the agency obligation securities and the estimated lives of the mortgage-backed securities adjusted for anticipated prepayments. ASB uses actual prepayment experience and estimates of future prepayments to determine the constant effective yield necessary to apply the interest method of income recognition. The discounts and premiums on the agency obligations portfolio are accreted or amortized on a prospective basis using expected contractual cash flows. The discounts and premiums on the mortgage-backed securities portfolio are accreted or amortized on a retrospective basis using changes in anticipated prepayments. This method requires a retrospective adjustment of the effective yield each time ASB changes the estimated life as if the new estimate had been known since the original acquisition date of the securities. Estimates of future prepayments are based on the underlying collateral characteristics and historic or projected prepayment behavior of each security. The specific identification method is used in determining realized gains and losses on the sales of securities. AFS debt securities with unrealized losses are reviewed quarterly. ASB will first assess whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criteria is met, the security’s amortized cost basis is written down to fair value through income. For AFS securities that do not meet the aforementioned criteria, ASB evaluates whether the decline in fair value is the result of a credit loss or other factors. The determination of whether or not a credit loss exists is based on consideration of the cash flows expected to be collected from the debt security. ASB develops these expectations after considering various factors such as agency ratings, the financial condition of the issuer, payment history, payment structure of the security, industry and market conditions, underlying collateral and other factors which may be relevant based on the facts and circumstances pertaining to individual securities. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. Changes in the allowance for credit losses are recorded as a provision for (or reversal of) credit losses. Losses are charged against the allowance when management believes the uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met. As of December 31, 2022, 2021 and 2020, there was no indicated impairment as ASB expects to collect the contractual cash flows for these investments. Held-to-maturity debt securities are assessed periodically to determine if a valuation allowance is necessary to absorb credit losses expected to occur over the remaining contractual life of the securities. The carrying amount of held-to-maturity debt securities is presented net of the valuation allowance for credit losses when such an allowance is deemed necessary. Stock in FHLB is carried at cost and is reviewed at least quarterly for impairment, with valuation adjustments recognized in noninterest income.
Loans	ASB carries loans at amortized cost less the allowance for credit losses, loan origination fees (net of direct loan origination costs), commitment fees and purchase premiums and discounts. Interest on loans is credited to income as it is earned. Discounts and premiums are accreted or amortized over the life of the loans using the interest method.Loan origination fees (net of direct loan origination costs) are deferred and recognized as an adjustment in yield over periods not exceeding the contractual life of the loan using the interest method or taken into income when the loan is paid off or sold. Nonrefundable commitment fees (net of direct loan origination costs, if applicable) received for commitments to originate or purchase loans are deferred and, if the commitment is exercised, recognized as an adjustment of yield over the life of the loan using the interest method. Nonrefundable commitment fees received for which the commitment expires unexercised are recognized as income upon expiration of the commitment.
Loans held for sale and gain on sale of loans	Loans held for sale are stated at the lower of cost or estimated fair value on an aggregate basis. Premiums, discounts and net deferred loan fees are not amortized while a loan is classified as held for sale. A sale is recognized only when the consideration received is other than beneficial interests in the assets sold and control over the assets is transferred irrevocably to the buyer. Gains or losses on sales of loans are recognized at the time of sale and are determined by the difference between the net sales proceeds and the allocated basis of the loans sold.
Allowance for credit losses and Nonperforming loans	The allowance for credit losses (ACL) represents management’s estimate of expected credit losses over the expected contractual life of the related loans as of the balance sheet date. Contractual terms are adjusted for expected prepayments but are not extended for expected extensions, renewals or modifications except in circumstances where ASB reasonably expects to execute a troubled debt restructuring with the borrower or where certain extension or renewal options are embedded in the original contract and not unconditionally cancellable by the Bank. Accrued interest receivables on loans are presented in the Consolidated Financial Statements as a component of other assets. When accrued interest is deemed to be uncollectible (typically when a loan is placed on nonaccrual status), interest income is reversed against interest income on loans. ASB follows established policies for placing loans on nonaccrual status, so uncollectible accrued interest receivable is reversed in a timely manner. As a result, the Bank has elected not to measure an allowance for credit losses for accrued interest receivables. Credit losses are charged and recoveries are credited to the ACL. The ACL is maintained at a level the Bank considers to be adequate and is based on ongoing assessments and evaluations of the collectability of loans. The Bank’s expected credit loss models consider historical credit loss experience, current market and economic conditions, and forecasted changes in market and economic conditions if such forecasts are considered reasonable and supportable. Generally, the Bank considers its forecasts to be reasonable and supportable for a period of up to a year from the estimation date. For periods beyond the reasonable and supportable forecast period, expected credit losses are estimated by reverting to historical loss information without adjustment for changes in economic conditions. The Bank evaluates the length of its reasonable and supportable forecast period, its reversion period and reversion methodology at least annually, or more often if warranted by economic conditions or other circumstances. The Bank’s methodology for determining the ACL includes an estimate of expected credit losses on a collective basis for groups of loans with similar risk characteristics and specific allowances for loans which are individually evaluated. ASB disaggregates its portfolio loans into portfolio segments for purposes of determining the allowance for credit losses. Commercial, commercial real estate, and commercial construction loans are defined as non-homogeneous loans and ASB utilizes a risk rating system for evaluating the credit quality of the loans. Non-homogeneous loans are also categorized into the regulatory asset quality classifications—Pass, Special Mention, Substandard, Doubtful, and Loss based on credit quality. ASB utilizes a numerical-based, risk rating “PD Model” that takes into consideration fiscal year-end financial information of the borrower and identified financial attributes including retained earnings, operating cash flows, interest coverage, liquidity and leverage that demonstrate a strong correlation with default to assign default probabilities at the borrower level. In addition, a loss given default (LGD) value is assigned to each loan to measure loss in the event of default based on loan specific features such as collateral that mitigates the amount of loss in the event of default. Residential, consumer and credit scored business loans are considered homogeneous loans, which are typically underwritten based on common, uniform standards. For the homogeneous portfolio, the quality of the loan is best indicated by the repayment performance of an individual borrower. ASB supplements performance data with external credit bureau data and credit scores such as the Fair Isaac Corporation (FICO) score on a quarterly basis. ASB has built portfolio loss models for each major segment based on the combination of internal and external data to predict the probability of default at the loan level. The Bank also considers qualitative factors in determining the ACL. Qualitative factors are used to capture characteristics in the portfolio that impact expected credit losses but that are not fully captured within the Bank’s expected credit loss models. These include but are not limited to adjustments for changes in policies or procedures in underwriting, monitoring or collections, economic conditions, portfolio mix, lending and risk management personnel, results of internal audit and quality control reviews, collateral values and any concentrations of credit. The reserve for unfunded commitments is maintained at a level believed by management to cover expected losses related to unfunded credit facilities and is included in accounts payable and other liabilities in the consolidated balance sheets. The determination of the adequacy of the reserve is based upon an evaluation of the unfunded credit facilities, including an assessment of historical commitment utilization experience, credit risk grading and historical loss rates. This process takes into consideration the same risk elements that are analyzed in the determination of the adequacy of the allowance for credit losses, as discussed above. Net adjustments to the reserve for unfunded commitments are included in the provision for credit losses in the consolidated statements of income. The allowance for credit losses is based on currently available information and historical experience, and future adjustments may be required from time to time to the allowance for credit losses based on new information and changes that occur (e.g., due to changes in economic conditions, particularly in Hawaii). Actual losses could differ from management’s estimates, and these differences and subsequent adjustments could be material. reversed. A loan may be returned to accrual status if (i) principal and interest payments have been brought current and repayment of the remaining contractual principal and interest is expected to be made, (ii) the loan has otherwise become well-secured and in the process of collection, or (iii) the borrower has been making regularly scheduled payments in full for the prior six months and it is reasonably assured that the loan will be brought fully current within a reasonable period. Cash receipts on nonaccruing loans are generally applied to reduce the unpaid principal balance. Loans considered to be uncollectible are charged-off against the allowance for credit losses. The amount and timing of charge-offs on loans includes consideration of the loan type, length of delinquency, insufficiency of collateral value, lien priority and the overall financial condition of the borrower. Recoveries on loans previously charged-off are credited back to the allowance for credit losses. Loans that have been charged-off against the allowance for credit losses are periodically monitored to evaluate whether further adjustments to the allowance are necessary. Loans in the commercial and commercial real estate portfolio are charged-off when the loan is risk rated “Doubtful” or “Loss.” The loan or a portion thereof is determined to be uncollectible after considering the borrower’s overall financial condition and collateral deficiency. A commercial or commercial real estate loan is considered uncollectible when: (a) the borrower is delinquent in principal or interest 90 days or more; (b) significant improvement in the borrower’s repayment capacity is doubtful; and/or (c) collateral value is insufficient to cover outstanding indebtedness and no other viable assets or repayment sources exist. Loans in the residential mortgage and home equity portfolios are charged-off when the loan or a portion thereof is determined to be uncollectible after considering the borrower’s overall financial condition and collateral deficiency. Such loan is considered uncollectible when: (a) the borrower is delinquent in principal or interest 180 days or more; (b) it is probable that collateral value is insufficient to cover outstanding indebtedness and no other viable assets or repayment sources exist; (c) notification of the borrower’s bankruptcy is received or the borrower’s debt is discharged in bankruptcy and the loan is not reaffirmed; or (d) in cases where ASB is in a subordinate position to other debt, the senior lien holder has foreclosed and ASB’s junior lien is extinguished. Other consumer loans are generally charged-off when the balance becomes 120 days delinquent.
Loans modified in a troubled debt restructuring	Loans are considered to have been modified in a troubled debt restructuring (TDR) when, due to a borrower’s financial difficulties, ASB makes concessions to the borrower that it would not otherwise consider for a non-troubled borrower. Modifications may include interest rate reductions, interest only payments for an extended period of time, protracted terms such as amortization and maturity beyond the customary length of time found in the normal market place, and other actions intended to minimize economic loss and to provide alternatives to foreclosure or repossession of collateral. Generally, a nonaccrual loan that has been modified in a TDR remains on nonaccrual status until the borrower has demonstrated sustained repayment performance for a period of six
Real estate acquired in settlement of loans	ASB records real estate acquired in settlement of loans at fair value, less estimated selling expenses. ASB obtains appraisals based on recent comparable sales to assist management in estimating the fair value of real estate acquired in settlement of loans. Subsequent declines in value are charged to expense through a valuation allowance. Costs related to holding real estate are charged to operations as incurred.
Goodwill	Goodwill is initially recorded as the excess of the purchase price over the fair value of the net assets acquired in a business combination and is subsequently evaluated at least annually for impairment during the fourth quarter. At December 31, 2022 and 2021, the amount of goodwill was $82.2 million. The goodwill relates to ASB and is the Company’s only intangible asset with an indefinite useful life.To determine if there was an impairment to the book value of goodwill pertaining to ASB, the fair value of ASB was estimated using a valuation method based on the market and income approaches. The market approach considers publicly traded financial institutions and measures the institutions’ market values as a multiple to (1) net income and (2) tangible book equity. The market approach also looks at sale transactions to determine the fair value under this approach. The income approach uses a discounted cash flow method to value a company on a going concern basis and is based on the concept that the future benefits derived from a particular company can be measured by its sustainable after-tax cash flows in the future. ASB used its forecasted net income and estimated cost savings if the Bank were acquired and applied a discount rate to calculate its discounted cash flows. A capitalization of earnings method was used to calculate a terminal value for the discounted cash flow method. The income approach was weighted 75%, the publicly traded company valuation method was weighted 20% and the sale transaction valuation method was weighted 5%. More weight was given to the income approach as this approach uses the projected performance of ASB in the stressed environment and would be more indicative of the current fair value of the Bank.
Mortgage banking	Mortgage loans held for sale are stated at the lower of cost or estimated fair value on an aggregate basis. Premiums, discounts and net deferred loan fees are not amortized while a loan is classified as held-for-sale. A sale is recognized only when the consideration received is other than beneficial interests in the assets sold and control over the assets is transferred irrevocably to the buyer. Gains or losses on sales of loans are recognized at the time of sale and are determined by the difference between the net sales proceeds and the allocated basis of the loans sold. ASB is obligated to subsequently repurchase a loan if the purchaser discovers a standard representation or warranty violation such as noncompliance with eligibility requirements, customer fraud or servicing violations. This primarily occurs during a loan file review. ASB considers and records a reserve for loan repurchases if appropriate. ASB recognizes a mortgage servicing asset when a mortgage loan is sold with servicing rights retained. This mortgage servicing right (MSR) is initially capitalized at its presumed fair value based on market data at the time of sale and accounted for in subsequent periods at the lower of amortized cost or fair value. Mortgage servicing assets or liabilities are included as a component of gain on sale of loans. Under ASC Topic 860, “Transfers and Servicing,” ASB amortizes the MSRs in proportion to and over the period of estimated net servicing income and assess for impairment at each reporting date. ASB’s MSRs are stratified based on predominant risk characteristics of the underlying loans including loan type such as fixed-rate 15- and 30-year mortgages and note rate in bands primarily of 50 to 100 basis points. For each stratum, fair value is calculated by discounting expected net income streams using discount rates that reflect industry pricing for similar assets. Expected net income streams are estimated based on industry assumptions regarding prepayment expectations and income and expenses associated with servicing residential mortgage loans for others. ASB uses a present value cash flow model using techniques described above to estimate the fair value of MSRs. Because observable market prices with exact terms and conditions may not be readily available, ASB compares the fair value of MSRs to an estimated value calculated by an independent third-party on a semi-annual basis. 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 fair value generated by the valuation model. 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. Loan servicing fee income represents income earned for servicing mortgage loans owned by investors. It includes mortgage servicing fees and other ancillary servicing income, net of guaranty fees. Servicing fees are generally calculated on the outstanding principal balances of the loans serviced and are recorded as income when earned.
Tax credit investments	ASB invests in limited liability entities formed to operate qualifying affordable housing projects. The affordable housing investments provide tax benefits to investors in the form of tax deductions from operating losses and tax credits. As a limited partner, ASB has no significant influence over the operations. These investments are initially recorded at the initial capital contribution with a liability recognized for the commitment to contribute additional capital over the term of the investment. ASB uses the proportional amortization method of accounting for its investments. Under the proportional amortization method, ASB amortizes the cost of its investments in proportion to the tax credits and other tax benefits it receives. The amortization, tax credits and tax benefits are reported as a component of income tax expense. For these limited liability entities, ASB assesses whether it is the primary beneficiary of the limited liability entity, which is a variable interest entity (VIE). The primary beneficiary of a VIE is determined to be the party that meets both of the following criteria: (i) has the power to make decisions that most significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. Generally, ASB, as a limited partner, is not deemed to be the primary beneficiary as it does not meet the power criterion, i.e., no power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and no direct ability to unilaterally remove the general partner.
Revenues	Revenue from contracts with customers. The revenues subject to ASC Topic 606 include the Utilities’ electric energy sales revenue and the ASB’s transaction fees, as further described below. Electric Utilities . Electric energy sales . Electric energy sales represent revenues from the generation and transmission of electricity to customers under tariffs approved by the PUC. Transaction pricing for electricity is determined and approved by the PUC for each rate class and includes revenues from the base electric charges, which are composed of (1) the customer, demand, energy, and minimum charges, and (2) the power factor, service voltage, and other adjustments as provided in each rate and rate rider schedule. Electric energy sales also represent contract rate charge from the generation and transmission of electricity to the Army. The monthly pricing is recalculated on an annual basis based on actual costs, approved by the Army. The Utilities satisfy performance obligations of electric energy sales over time, i.e., the Utilities generate and transfer control of the electricity over time as the customer simultaneously receives and consumes the benefits provided by the Utilities’ performance. Payments from customers are generally due within 30 days from the end of the billing period. As electric bills to customers reflect the amount that corresponds directly with the value of the Utilities’ performance to date, the Utilities have elected to use the right to invoice practical expedient, which entitles them to recognize revenue in the amount they have the right to invoice. Bank . Bank fees. Bank fees are primarily transaction-based and are recognized when the transaction has occurred and the performance obligation satisfied. From time to time, customers will request a fee waiver and ASB may grant reversals of fees. Revenues are not recorded for the estimated amount of fee reversals for each period. Fees from other financial services - These fees primarily include debit card interchange income and fees, automated teller machine fees, credit card interchange income and fees, check ordering fees, wire fees, safe deposit rental fees, corporate/business fees, merchant income, online banking fees and international banking fees. Amounts paid to third parties for payment network expenses are included in this financial statement caption in ASB’s Statements of Income and Comprehensive Income Data (in Revenues—Bank financial statement caption of HEI’s Consolidated Statements of Income). Fee income on deposit liabilities - These fees primarily include “not sufficient funds” fees, monthly deposit account service charge fees, commercial account analysis fees and other deposit fees. Fee income on other financial products - These fees primarily include commission income from the sales of annuity, mutual fund, and life insurance products. ASB also offers a fee-based, managed account product in which income is based on a percentage of assets under management. Other Segment . Other sales. Other sales primarily consist of revenues from the generation and sale of renewable energy at fixed contractual prices per kWh to customers under power purchase agreements by Pacific Current subsidiaries. The performance obligation is satisfied over time as renewable energy is generated and control is transferred to the customer that simultaneously receives and consumes the benefits provided. Payments from customers are generally due within 30 days from the end of the billing period. The bill to customers reflect the amount that corresponds directly with the value of performance to date. Pacific Current has elected to use the right to invoice practical expedient, which entitles it to recognize revenue in the amount they have the right to invoice.
Revenues from other sources	Revenues from other sources. Revenues from other sources not subject to ASC Topic 606 are accounted for as follows: Electric Utilities . Regulatory revenues . Regulatory revenues primarily consist of revenues from the decoupling mechanism and cost recovery surcharges. Decoupling mechanism - Under the current decoupling mechanism, the Utilities are allowed to recover or obligated to refund the difference between actual revenue and the target revenue as determined by the PUC, collect annual revenue adjustment mechanism (ARA) and exceptional project recovery mechanism revenues, and recover or refund performance incentive mechanism penalties or rewards. These adjustments will be reflected in tariffs in future periods. Under the PBR framework, the accrued RBA revenues as of the preceding September 30 balance and the annual ARA amount are billed from January 1 through December 31 of each year, which is within 24 months following the end of the year in which they are recorded as required by the accounting standard for alternative revenue programs (see “Regulatory proceedings” in Note 3). Cost recovery surcharges - For the timely recovery of additional costs incurred, and reconciliation of costs and expenses included in tariffed rates, the Utilities recognize revenues under surcharge mechanisms approved by the PUC. These will be reflected in tariffs in future periods (e.g., ECRC and PPAC). Since revenue adjustments discussed above resulted from either agreements with the PUC or change in tax law, rather than contracts with customers, they are not subject to the scope of ASC Topic 606. Also, see Notes 1, 3 and 12 of the Consolidated Financial Statements. The Utilities have elected to present these revenue adjustments on a gross basis, which results in the amounts being billed to customers presented in revenues from contracts with customers and the amortization of the related regulatory asset/liability as revenues from other sources. Depending on whether the previous deferral balance being amortized was a regulatory asset or regulatory liability, and depending on the size and direction of the current year deferral of surcharges and/or refunds to customers, it could result in negative regulatory revenue during the year. Utility pole attachment fees . These fees primarily represent revenues from third-party companies for their access to and shared use of Utilities-owned poles through licensing agreements. As the shared portion of the utility pole is functionally dependent on the rest of the structure, no distinct goods appear to exist. Therefore, these fees are not subject to the scope of ASC Topic 606, but recognized in accordance with ASC Topic 610, Other Income . Army privatization extraordinary O&M (EOM) fees. The monthly EOM fee provides the recovery of the incremental extraordinary O&M costs not covered under the standard utility services. The nature of the work related to transitional period revenue and monthly EOM fees do not represent the Utilities’ ongoing major or central operations (i.e., generating, and transmission and distribution of electricity) and is provided specifically for the arrangement between the Utilities and the Army. Therefore, these revenues are not subject to the scope of ASC Topic 606, but recognized in accordance with ASC Topic 610, Other Income . Bank . Interest and dividend income . Interest and fees on loans are recognized in accordance with ASC Topic 310, Receivables , including the related allowance for credit losses. Interest and dividends on investment securities are recognized in accordance with ASC Topic 320, Investments-Debt and Equity Securities. See Notes 1 and 4 of the Consolidated Financial Statements. Other bank noninterest income . Other bank noninterest income primarily consists of mortgage banking income and bank-owned life insurance income. Mortgage banking income - Mortgage banking income consists primarily of realized and unrealized gains on sale of loans accounted for pursuant to ASC Topic 860, Transfers and Servicing . Interest rate lock commitments and forward loan sales are considered derivatives and are accounted pursuant to ASC Topic 815, Derivatives and Hedging . Bank-Owned Life Insurance (BOLI) - The recognition of BOLI cash surrender value does not represent a contract with a customer and is accounted for in accordance with Emerging Issues Task Force Issue 06-05, Accounting for Purchases of Life Insurance-Determining the Amount that Could be Realized in Accordance with FASB Technical Bulletin No. 85-4, Accounting for Purchases of Life Insurance .

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of amounts in income tax expense related to investments in qualifying affordable housing projects	The table below summarizes the amounts in income tax expense related to ASB’s LIHTC investments: Years ended December 31 2022 2021 2020 (in millions) Amounts in income taxes related to low-income housing tax credit investments Amortization recognized in the provision for income taxes $ (12.0) $ (10.3) $ (9.6) Tax credits and other tax benefits recognized in the provision for income taxes 16.3 13.9 13.7 Net benefit to income tax expense $ 4.3 $ 3.6 $ 4.1

Segment financial information (

Segment financial information (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of segment financial information	Segment financial information was as follows: (in thousands) Electric utility Bank Other Total 2022 Revenues from external customers $ 3,408,583 $ 321,068 $ 12,334 $ 3,741,985 Intersegment revenues (eliminations) 4 — (4) — Revenues 3,408,587 321,068 12,330 3,741,985 Depreciation and amortization 260,744 24,436 9,661 294,841 Interest expense, net 76,416 13,301 26,986 116,703 Income (loss) before income taxes 240,600 102,241 (38,646) 304,195 Income taxes (benefit) 49,676 22,252 (10,761) 61,167 Net income (loss) 190,924 79,989 (27,885) 243,028 Preferred stock dividends of subsidiaries 1,995 — (105) 1,890 Net income (loss) for common stock 188,929 79,989 (27,780) 241,138 Capital expenditures 1 329,457 4,704 9,876 344,037 Assets (at December 31, 2022) 6,597,467 9,545,970 140,807 16,284,244 2021 Revenues from external customers $ 2,539,589 $ 306,398 $ 4,392 $ 2,850,379 Intersegment revenues (eliminations) 47 — (47) — Revenues 2,539,636 306,398 4,345 2,850,379 Depreciation and amortization 251,206 21,124 6,372 278,702 Interest expense, net 72,447 5,040 21,916 99,403 Income (loss) before income taxes 223,785 130,559 (43,481) 310,863 Income taxes (benefit) 44,148 29,325 (10,666) 62,807 Net income (loss) 179,637 101,234 (32,815) 248,056 Preferred stock dividends of subsidiaries 1,995 — (105) 1,890 Net income (loss) for common stock 177,642 101,234 (32,710) 246,166 Capital expenditures 1 292,000 11,131 11,393 314,524 Assets (at December 31, 2021) 6,491,625 9,181,603 149,409 15,822,637 2020 Revenues from external customers $ 2,265,281 $ 313,511 $ 983 $ 2,579,775 Intersegment revenues (eliminations) 39 — (39) — Revenues 2,265,320 313,511 944 2,579,775 Depreciation and amortization 256,479 29,349 4,950 290,778 Interest expense, net 67,794 11,114 20,900 99,808 Income (loss) before income taxes 211,753 69,271 (40,400) 240,624 Income taxes (benefit) 40,418 11,688 (11,196) 40,910 Net income (loss) 171,335 57,583 (29,204) 199,714 Preferred stock dividends of subsidiaries 1,995 — (105) 1,890 Net income (loss) for common stock 169,340 57,583 (29,099) 197,824 Capital expenditures 1 350,864 12,203 20,828 383,895 Assets (at December 31, 2020) 6,457,373 8,396,533 150,101 15,004,007

Electric utility segment (Table

Electric utility segment (Tables)	12 Months Ended
	Dec. 31, 2022
Electric Utility Subsidiary [Abstract]
Schedule of regulatory assets	Regulatory assets were as follows: December 31 2022 2021 (in thousands) Retirement benefit plans (balance primarily varies with plans’ funded statuses) $ 69,919 $ 351,070 Income taxes (3-37 years) 82,583 88,087 Decoupling revenue balancing account and RAM (1-2 years) 14,290 31,607 Unamortized expense and premiums on retired debt and equity issuances (1-28 years; 1-28 years remaining) 5,967 7,300 Vacation earned, but not yet taken (1 year) 14,109 14,255 COVID-19 related costs (to be determined by PUC) 11,403 27,839 ECRC/PPAC (1 year) 20,369 21,386 Other (1-37 years remaining) 23,873 23,999 Total regulatory assets $ 242,513 $ 565,543 Included in: Current assets $ 52,273 $ 66,664 Long-term assets 190,240 498,879 Total regulatory assets $ 242,513 $ 565,543
Schedule of regulatory liabilities	Regulatory liabilities were as follows: December 31 2022 2021 (in thousands) Cost of removal in excess of salvage value (1-79 years) $ 577,985 $ 562,514 Income taxes (3-37 years) 316,947 337,304 Decoupling revenue balancing account and RAM (1-2 years) 10,426 251 Retirement benefit plans (balance primarily varies with plans’ funded statuses) 81,950 51,734 Solar tax credits (1-19 years) 50,240 27,123 Other (1-3 years remaining) 18,102 17,842 Total regulatory liabilities $ 1,055,650 $ 996,768 Included in: Current liabilities $ 31,475 $ 29,760 Long-term liabilities 1,024,175 967,008 Total regulatory liabilities $ 1,055,650 $ 996,768
Schedule of voluntary liquidation and redemption prices of cumulative preferred stock	The following series of cumulative preferred stock are redeemable only at the option of the respective company at the following prices in the event of voluntary liquidation or redemption: December 31, 2022 Voluntary Redemption Series C, D, E, H, J and K (Hawaiian Electric) $ 20 $ 21 I (Hawaiian Electric) 20 20 G (Hawaii Electric Light) 100 100 H (Maui Electric) 100 100
Schedule of purchases from all IPPs	Purchases from all IPPs were as follows: Years ended December 31 2022 2021 2020 (in millions) Kalaeloa $ 342 $ 204 $ 149 AES Hawaii 82 130 133 HPOWER 73 70 70 Hamakua Energy 66 53 50 Puna Geothermal Venture 48 29 1 Wind IPPs 119 124 105 Solar IPPs 57 50 57 Other IPPs 1 7 10 4 Total IPPs $ 794 $ 670 $ 569 1 Includes hydro power and other PPAs
Schedule of changes in asset retirement obligation	Changes to the ARO liability included in “Other liabilities” on Hawaiian Electric’s balance sheet were as follows: (in thousands) 2022 2021 Balance, January 1 $ 11,110 $ 10,692 Accretion expense 442 423 Liabilities incurred — — Liabilities settled (4) (5) Balance, December 31 $ 11,548 $ 11,110
Schedule of net annual incremental amounts proposed to be collected (refunded)	The filing reflected ARA revenues for 2023 to be collected from January 1 through December 31, 2023, as follows: (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total 2023 ARA revenues $ 27.0 $ 6.6 $ 6.5 $ 40.1 Management Audit savings commitment (4.6) (1.0) (1.0) (6.6) Net 2023 ARA revenues $ 22.4 $ 5.6 $ 5.5 $ 33.5 The net incremental amounts between the 2022 spring and fall revenue reports are shown in the following table. The amounts are to be collected (refunded) from January 1 through December 31, 2023 under the RBA rate tariffs, which were included in the 2022 fall revenue report filing. (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total Incremental ARA revenues $ 27.0 $ 6.6 $ 6.5 $ 40.1 Annual change in accrued RBA balance through September 30, 2022 (and associated revenue taxes) (3.6) (6.7) (3.2) (13.5) Incremental Performance Incentive Mechanisms (net) — — (0.1) (0.1) Incremental EPRM/MPIR Revenue Adjustment 0.3 — — 0.3 Net incremental amount to be collected under the RBA rate tariffs $ 23.6 $ (0.1) $ 3.3 $ 26.8 Note: Columns may not foot due to rounding.
Schedule of consolidating statements of income	Consolidating statement of income Year ended December 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 2,452,969 485,590 470,355 (327) [1] $ 3,408,587 Expenses Fuel oil 917,801 133,238 214,575 — 1,265,614 Purchased power 601,235 143,636 48,713 — 793,584 Other operation and maintenance 326,785 85,110 85,706 — 497,601 Depreciation 158,725 41,404 35,295 — 235,424 Taxes, other than income taxes 228,843 44,685 43,645 — 317,173 Total expenses 2,233,389 448,073 427,934 — 3,109,396 Operating income 219,580 37,517 42,421 (327) 299,191 Allowance for equity funds used during construction 8,464 898 1,212 — 10,574 Equity in earnings of subsidiaries 47,493 — — (47,493) [2] — Retirement defined benefits credit (expense)—other than service costs 3,296 666 (127) — 3,835 Interest expense and other charges, net (55,260) (10,659) (10,824) 327 [1] (76,416) Allowance for borrowed funds used during construction 2,769 277 370 — 3,416 Income before income taxes 226,342 28,699 33,052 (47,493) 240,600 Income taxes 36,333 6,349 6,994 — 49,676 Net income 190,009 22,350 26,058 (47,493) 190,924 Preferred stock dividends of subsidiaries — 534 381 — 915 Net income attributable to Hawaiian Electric 190,009 21,816 25,677 (47,493) 190,009 Preferred stock dividends of Hawaiian Electric 1,080 — — — 1,080 Net income for common stock $ 188,929 21,816 25,677 (47,493) $ 188,929 Consolidating statement of income Year ended December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 1,793,372 381,033 365,256 (25) [1] $ 2,539,636 Expenses Fuel oil 442,818 80,086 121,445 — 644,349 Purchased power 508,642 108,997 52,855 — 670,494 Other operation and maintenance 313,009 79,390 83,013 — 475,412 Depreciation 155,607 40,201 33,661 — 229,469 Taxes, other than income taxes 170,604 35,499 34,251 — 240,354 Total expenses 1,590,680 344,173 325,225 — 2,260,078 Operating income 202,692 36,860 40,031 (25) 279,558 Allowance for equity funds used during construction 7,734 586 1,214 — 9,534 Equity in earnings of subsidiaries 45,353 — — (45,353) [2] — Retirement defined benefits credit (expense)—other than service costs 3,348 670 (128) — 3,890 Interest expense and other charges, net (51,680) (10,353) (10,439) 25 [1] (72,447) Allowance for borrowed funds used during construction 2,617 197 436 — 3,250 Income before income taxes 210,064 27,960 31,114 (45,353) 223,785 Income taxes 31,342 6,246 6,560 — 44,148 Net income 178,722 21,714 24,554 (45,353) 179,637 Preferred stock dividends of subsidiaries — 534 381 — 915 Net income attributable to Hawaiian Electric 178,722 21,180 24,173 (45,353) 178,722 Preferred stock dividends of Hawaiian Electric 1,080 — — — 1,080 Net income for common stock $ 177,642 21,180 24,173 (45,353) $ 177,642 Consolidating statement of income Year ended December 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 1,608,305 334,221 323,430 (636) [1] $ 2,265,320 Expenses Fuel oil 354,087 72,202 88,985 — 515,274 Purchased power 446,672 73,120 48,957 — 568,749 Other operation and maintenance 311,781 73,746 88,665 — 474,192 Depreciation 151,387 39,041 32,305 — 222,733 Taxes, other than income taxes 154,191 31,181 30,450 — 215,822 Total expenses 1,418,118 289,290 289,362 — 1,996,770 Operating income 190,187 44,931 34,068 (636) 268,550 Allowance for equity funds used during construction 7,335 543 890 — 8,768 Equity in earnings of subsidiaries 47,504 — — (47,504) [2] — Retirement defined benefits credit (expense)—other than service costs (1,294) 672 (141) — (763) Interest expense and other charges, net (48,775) (10,004) (9,651) 636 [1] (67,794) Allowance for borrowed funds used during construction 2,540 160 292 — 2,992 Income before income taxes 197,497 36,302 25,458 (47,504) 211,753 Income taxes 27,077 8,275 5,066 — 40,418 Net income 170,420 28,027 20,392 (47,504) 171,335 Preferred stock dividends of subsidiaries — 534 381 — 915 Net income attributable to Hawaiian Electric 170,420 27,493 20,011 (47,504) 170,420 Preferred stock dividends of Hawaiian Electric 1,080 — — — 1,080 Net income for common stock $ 169,340 27,493 20,011 (47,504) $ 169,340 Statements of Income and Comprehensive Income Data Years ended December 31 2022 2021 2020 (in thousands) Interest and dividend income Interest and fees on loans $ 207,830 $ 198,802 $ 214,134 Interest and dividends on investment securities 58,044 43,464 30,529 Total interest and dividend income 265,874 242,266 244,663 Interest expense Interest on deposit liabilities 7,327 4,981 10,654 Interest on other borrowings 5,974 59 460 Total interest expense 13,301 5,040 11,114 Net interest income 252,573 237,226 233,549 Provision for credit losses 2,037 (25,825) 50,811 Net interest income after provision for credit losses 250,536 263,051 182,738 Noninterest income Fees from other financial services 19,830 21,225 16,447 Fee income on deposit liabilities 18,762 16,663 16,059 Fee income on other financial products 10,291 8,770 6,381 Bank-owned life insurance 2,533 7,318 6,483 Mortgage banking income 1,692 9,305 23,734 Gain on sale of real estate 1,778 — — Gain on sale of investment securities, net — 528 9,275 Other income, net 2,086 851 (256) Total noninterest income 56,972 64,660 78,123 Noninterest expense Compensation and employee benefits 113,839 113,970 104,443 Occupancy 24,026 20,584 21,573 Data processing 17,681 17,634 14,769 Services 10,679 10,327 11,121 Equipment 10,100 9,510 9,001 Office supplies, printing and postage 4,398 4,239 4,623 Marketing 3,968 3,870 3,435 FDIC insurance 3,591 3,235 2,342 Other expense 1 16,985 13,783 20,283 Total noninterest expense 205,267 197,152 191,590 Income before income taxes 102,241 130,559 69,271 Income taxes 22,252 29,325 11,688 Net income 79,989 101,234 57,583 Other comprehensive income (loss), net of taxes (298,833) (52,728) 23,608 Comprehensive income (loss) $ (218,844) $ 48,506 $ 81,191 1 2020, included approximately $5.1 million of certain direct and incremental COVID-19 related costs, including $2.5 million of compensation expense and $2.0 million of enhanced cleaning and sanitation costs. Reconciliation to amounts per HEI Consolidated Statements of Income*: Years ended December 31 2022 2021 2020 (in thousands) Interest and dividend income $ 265,874 $ 242,266 $ 244,663 Noninterest income 56,972 64,660 78,123 Less: Gain on sale of real estate 1,778 — — Less: Gain on sale of investment securities, net — 528 9,275 *Revenues-Bank 321,068 306,398 313,511 Total interest expense 13,301 5,040 11,114 Provision for credit losses 2,037 (25,825) 50,811 Noninterest expense 205,267 197,152 191,590 Less: Retirement defined benefits expense (credit)—other than service costs (723) (1,828) 1,813 Add: Gain on sale of real estate 1,778 — — *Expenses-Bank 219,550 178,195 251,702 *Operating income-Bank 101,518 128,203 61,809 Add back: Retirement defined benefits expense (credit)—other than service costs (723) (1,828) 1,813 Add back: Gain on sale of investment securities, net — 528 9,275 Income before income taxes $ 102,241 $ 130,559 $ 69,271
Schedule of consolidating statements of comprehensive income	Consolidating statement of comprehensive income Year ended December 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Consolidating Hawaiian Electric Net income for common stock $ 188,929 21,816 25,677 (47,493) $ 188,929 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Net gains arising during the period, net of taxes 187,193 44,411 44,386 (88,797) [1] 187,193 Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes 18,884 2,811 2,584 (5,395) [1] 18,884 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (199,936) (46,841) (46,694) 93,535 [1] (199,936) Other comprehensive income, net of taxes 6,141 381 276 (657) 6,141 Comprehensive income attributable to common shareholder $ 195,070 22,197 25,953 (48,150) $ 195,070 Consolidating statement of comprehensive income Year ended December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Consolidating adjustments Hawaiian Electric Net income for common stock $ 177,642 21,180 24,173 (45,353) $ 177,642 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Net losses arising during the period, net of tax benefits 151,523 17,902 16,572 (34,474) [1] 151,523 Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes 19,461 2,749 2,553 (5,302) [1] 19,461 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (171,345) (20,585) (18,898) 39,483 [1] (171,345) Other comprehensive income (loss), net of tax benefits (361) 66 227 (293) (361) Comprehensive income attributable to common shareholder $ 177,281 21,246 24,400 (45,646) $ 177,281 Consolidating statement of comprehensive income Year ended December 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Consolidating adjustments Hawaiian Electric Net income for common stock $ 169,340 27,493 20,011 (47,504) $ 169,340 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Net gains (losses) arising during the period, net of taxes (63,050) (9,424) (10,897) 20,321 [1] (63,050) Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes 21,550 3,179 2,763 (5,942) [1] 21,550 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes 39,860 6,025 8,000 (14,025) [1] 39,860 Other comprehensive loss, net of tax benefits (1,640) (220) (134) 354 (1,640) Comprehensive income attributable to common shareholder $ 167,700 27,273 19,877 (47,150) $ 167,700
Schedule of consolidating balance sheets	Consolidating balance sheet December 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,860 5,606 3,594 — — 52,060 Plant and equipment 5,260,685 1,425,442 1,293,383 — — 7,979,510 Finance lease right-of-use assets 48,371 — — — — 48,371 Less accumulated depreciation (1,855,150) (644,457) (586,892) — — (3,086,499) Construction in progress 215,560 23,989 35,804 — — 275,353 Utility property, plant and equipment, net 3,712,326 810,580 745,889 — — 5,268,795 Nonutility property, plant and equipment, less accumulated depreciation 5,298 115 1,532 — — 6,945 Total property, plant and equipment, net 3,717,624 810,695 747,421 — — 5,275,740 Investment in wholly-owned subsidiaries, at equity 701,833 — — — (701,833) [2] — Current assets Cash and cash equivalents 27,579 5,092 6,494 77 — 39,242 Advances to affiliates — 4,500 21,700 — (26,200) [1] — Customer accounts receivable, net 216,802 39,339 32,197 — — 288,338 Accrued unbilled revenues, net 136,508 23,839 22,933 — — 183,280 Other accounts receivable, net 23,746 5,519 6,686 — (22,384) [1] 13,567 Fuel oil stock, at average cost 153,342 16,964 21,224 — — 191,530 Materials and supplies, at average cost 48,130 9,783 21,655 — — 79,568 Prepayments and other 24,040 6,346 4,137 — (1,041) [1] 33,482 Regulatory assets 46,504 2,435 3,334 — — 52,273 Total current assets 676,651 113,817 140,360 77 (49,625) 881,280 Other long-term assets Operating lease right-of-use assets 42,752 34,283 12,283 — — 89,318 Regulatory assets 154,040 21,816 14,384 — — 190,240 Other 115,028 32,654 29,495 — (16,288) [1] 160,889 Total other long-term assets 311,820 88,753 56,162 — (16,288) 440,447 Total assets $ 5,407,928 1,013,265 943,943 77 (767,746) $ 6,597,467 Capitalization and liabilities Capitalization Common stock equity $ 2,344,170 344,720 357,036 77 (701,833) [2] $ 2,344,170 Cumulative preferred stock–not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,126,915 224,439 233,500 — — 1,584,854 Total capitalization 3,493,378 576,159 595,536 77 (701,833) 3,963,317 Current liabilities Current portion of operating lease liabilities 9,775 6,690 2,630 — — 19,095 Current portion of long-term debt, net 49,981 19,992 29,989 — — 99,962 Short-term borrowings-non-affiliate 87,967 — — — — 87,967 Short-term borrowings-affiliate 26,200 — — — (26,200) [1] — Accounts payable 143,253 32,113 27,126 — — 202,492 Interest and preferred dividends payable 12,398 2,576 2,282 — (80) [1] 17,176 Taxes accrued, including revenue taxes 207,798 42,436 40,709 — (1,041) [1] 289,902 Regulatory liabilities 13,145 8,553 9,777 — — 31,475 Other 64,659 20,856 22,385 — (22,304) [1] 85,596 Total current liabilities 615,176 133,216 134,898 — (49,625) 833,665 Deferred credits and other liabilities Operating lease liabilities 41,049 27,817 9,849 — — 78,715 Finance lease liabilities 46,048 — — — — 46,048 Deferred income taxes 271,234 50,615 62,581 — — 384,430 Regulatory liabilities 729,683 194,222 100,270 — — 1,024,175 Unamortized tax credits 69,614 13,150 12,536 — — 95,300 Defined benefit pension and other postretirement benefit plans liability 65,907 129 — — (16,288) [1] 49,748 Other 75,839 17,957 28,273 — 122,069 Total deferred credits and other liabilities 1,299,374 303,890 213,509 — (16,288) 1,800,485 Total capitalization and liabilities $ 5,407,928 1,013,265 943,943 77 (767,746) $ 6,597,467 Consolidating balance sheet December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating 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) [2] — 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) [1] — 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) [1] 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 [1] 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) [1] 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] $ 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) [1] — Accounts payable 111,024 26,139 22,844 — — 160,007 Interest and preferred dividends payable 12,442 2,617 2,269 — (3) [1] 17,325 Taxes accrued, including revenue taxes 143,723 33,153 30,679 — 725 [1] 208,280 Regulatory liabilities 22,240 3,247 4,273 — — 29,760 Other 56,752 14,158 18,540 — (17,881) [1] 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) [1] 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 December 31 2022 2021 (in thousands) Assets Cash and due from banks $ 153,042 $ 100,051 Interest-bearing deposits 3,107 151,189 Cash and cash equivalents 156,149 251,240 Investment securities Available-for-sale, at fair value 1,429,667 2,574,618 Held-to-maturity, at amortized cost (fair value of $1,150,971 and $510,474 at December 31, 2022 and 2021, respectively) 1,251,747 522,270 Stock in Federal Home Loan Bank, at cost 26,560 10,000 Loans held for investment 5,978,906 5,211,114 Allowance for credit losses (72,216) (71,130) Net loans 5,906,690 5,139,984 Loans held for sale, at lower of cost or fair value 824 10,404 Other 692,143 590,897 Goodwill 82,190 82,190 Total assets $ 9,545,970 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities–noninterest-bearing $ 2,811,077 $ 2,976,632 Deposit liabilities–interest-bearing 5,358,619 5,195,580 Other borrowings 695,120 88,305 Other 212,269 193,268 Total liabilities 9,077,085 8,453,785 Commitments and contingencies Common stock 1 1 Additional paid in capital 355,806 353,895 Retained earnings 449,693 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (328,904) $ (32,037) Retirement benefit plans (7,711) (336,615) (5,745) (37,782) Total shareholder’s equity 468,885 727,818 Total liabilities and shareholder’s equity $ 9,545,970 $ 9,181,603 December 31 2022 2021 (in thousands) Other assets Bank-owned life insurance $ 182,986 $ 177,566 Premises and equipment, net 195,324 202,299 Accrued interest receivable 25,077 20,854 Mortgage servicing rights 9,047 9,950 Low-income housing investments 106,978 110,989 Deferred tax asset 116,441 7,699 Real estate acquired in settlement of loans, net 115 — Other 56,175 61,540 $ 692,143 $ 590,897 Other liabilities Accrued expenses $ 97,295 $ 87,905 Federal income taxes payable 863 — Cashier’s checks 36,401 33,675 Advance payments by borrowers 9,637 9,994 Other 68,073 61,694 $ 212,269 $ 193,268
Schedule of consolidating statements of changes in common stock equity	Consolidating statements of changes in common stock equity (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating Hawaiian Electric Balance, December 31, 2019 $ 2,047,352 298,998 292,870 101 (591,969) $ 2,047,352 Net income for common stock 169,340 27,493 20,011 — (47,504) 169,340 Other comprehensive loss, net of taxes (1,640) (220) (134) — 354 (1,640) Issuance of common stock, net of expenses 34,000 7,500 11,000 — (18,500) 34,000 Common stock dividends (107,134) (16,320) (14,384) — 30,704 (107,134) Dissolution of subsidiary — — — (24) 24 — Balance, December 31, 2020 2,141,918 317,451 309,363 77 (626,891) 2,141,918 Net income for common stock 177,642 21,180 24,173 — (45,353) 177,642 Other comprehensive income (loss), net of taxes (361) 66 227 — (293) (361) Issuance of common stock, net of expenses 54,400 8,803 24,597 — (33,400) 54,400 Common stock dividends (111,700) (14,600) (15,100) — 29,700 (111,700) Balance, December 31, 2021 2,261,899 332,900 343,260 77 (676,237) 2,261,899 Net income for common stock 188,929 21,816 25,677 — (47,493) 188,929 Other comprehensive income, net of taxes 6,141 381 276 — (657) 6,141 Issuance of common stock, net of expenses 13,101 6,023 3,023 — (9,046) 13,101 Common stock dividends (125,900) (16,400) (15,200) — 31,600 (125,900) Balance, December 31, 2022 2,344,170 344,720 357,036 77 (701,833) 2,344,170
Schedule of consolidating statements of cash flows	Consolidating statement of cash flows Year ended December 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating Hawaiian Electric Cash flows from operating activities Net income $ 190,009 22,350 26,058 — (47,493) [2] $ 190,924 Adjustments to reconcile net income to net cash provided by operating activities Equity in earnings of subsidiaries (47,493) — — — 47,493 [2] — Common stock dividends received from subsidiaries 31,600 — — — (31,600) [2] — Depreciation of property, plant and equipment 158,725 41,404 35,295 — — 235,424 Other amortization 16,708 4,996 3,616 — — 25,320 Deferred income taxes (33,648) (4,040) (3,727) — — (41,415) State refundable credit (7,375) (1,734) (1,890) — — (10,999) Bad debt expense 4,175 1,073 779 6,027 Allowance for equity funds used during construction (8,464) (898) (1,212) — — (10,574) Other (65) (50) (24) — — (139) Changes in assets and liabilities: Increase in accounts receivable (74,067) (11,644) (10,680) — 4,649 [1] (91,742) Increase in accrued unbilled revenues (43,972) (4,289) (5,762) — — (54,023) Increase in fuel oil stock (82,158) (4,150) (1,144) — — (87,452) Increase in materials and supplies (6,124) (56) (1,511) — — (7,691) Decrease in regulatory assets 28,076 1,546 4,978 — — 34,600 Increase in regulatory liabilities 28,621 7,977 8,290 — 44,888 Increase in accounts payable 18,657 3,294 404 — — 22,355 Change in prepaid and accrued income taxes, tax credits and revenue taxes 77,903 11,117 14,178 — — 103,198 Decrease in defined benefit pension and other postretirement benefit plans liability (3,545) (626) (657) — — (4,828) Change in other assets and liabilities (17,884) 213 (3,623) — (4,649) [1] (25,943) Net cash provided by operating activities 229,679 66,483 63,368 — (31,600) 327,930 Cash flows from investing activities Capital expenditures (223,223) (49,004) (57,230) — — (329,457) Advances from affiliates 1,000 (4,500) (21,700) — 25,200 [1] — Other (5,687) 760 1,253 — 9,046 [1],[2] 5,372 Net cash used in investing activities (227,910) (52,744) (77,677) — 34,246 (324,085) Cash flows from financing activities Common stock dividends (125,900) (16,400) (15,200) — 31,600 [2] (125,900) Preferred stock dividends of Hawaiian Electric and subsidiaries (1,080) (534) (381) — — (1,995) Proceeds from issuance of common stock 13,101 6,023 3,023 — (9,046) [2] 13,101 Proceeds from issuance of long-term debt 40,000 10,000 10,000 — — 60,000 Repayment of long-term debt (40,000) (12,000) — — — (52,000) Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 114,167 (1,000) — — (25,200) [1] 87,967 Payments of obligations under finance leases (670) — — — — (670) Other (241) (62) (61) — — (364) Net cash provided by (used in) financing activities (623) (13,973) (2,619) — (2,646) (19,861) Net increase (decrease) in cash, cash equivalents and restricted cash 1,146 (234) (16,928) — — (16,016) Cash, cash equivalents and restricted cash, January 1 26,433 5,326 23,422 77 — 55,258 Cash, cash equivalents and restricted cash, December 31 27,579 5,092 6,494 77 — 39,242 Less: Restricted cash — — — — — — Cash and cash equivalents, December 31 $ 27,579 5,092 6,494 77 — $ 39,242 Consolidating statement of cash flows Year ended December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating Hawaiian Electric Cash flows from operating activities Net income $ 178,722 21,714 24,554 — (45,353) [2] $ 179,637 Adjustments to reconcile net income to net cash provided by operating activities Equity in earnings of subsidiaries (45,353) — — — 45,353 [2] — Common stock dividends received from subsidiaries 29,700 — — — (29,700) [2] — Depreciation of property, plant and equipment 155,607 40,201 33,661 — — 229,469 Other amortization 16,688 3,532 1,517 — — 21,737 Deferred income taxes (3,191) (1,955) 1,317 — — (3,829) State refundable credit (7,120) (1,672) (1,790) — — (10,582) Bad debt expense 1,159 509 515 — — 2,183 Allowance for equity funds used during construction (7,734) (586) (1,214) — — (9,534) Bill credits 1,400 300 300 — — 2,000 Other 366 (41) 1,025 — — 1,350 Changes in assets and liabilities: Increase in accounts receivable (41,727) (6,832) (3,071) — 1,540 [1] (50,090) Increase in accrued unbilled revenues (18,345) (5,816) (3,303) — — (27,464) Increase in fuel oil stock (32,407) (4,343) (9,090) — — (45,840) Decrease (increase) in materials and supplies (3,220) 169 (1,482) — — (4,533) Decrease (increase) in regulatory assets (15,422) 24 1,524 — — (13,874) Increase (decrease) in regulatory liabilities 16,269 (1,031) 120 15,358 Decrease in accounts payable 9,828 4,723 3,120 — — 17,671 Change in prepaid and accrued income taxes, tax credits and revenue taxes 21,217 3,861 1,938 — (86) [1] 26,930 Decrease in defined benefit pension and other postretirement benefit plans liability (3,480) (950) (724) — — (5,154) Change in other assets and liabilities (36,733) (5,833) (8,196) — (1,540) [1] (52,302) Net cash provided by operating activities 216,224 45,974 40,721 — (29,786) 273,133 Cash flows from investing activities Capital expenditures (194,984) (50,516) (46,500) — — (292,000) Advances from affiliates 25,700 — — — (25,700) [1] — Other (29,596) 1,072 1,073 33,486 [1],[2] 6,035 Net cash used in investing activities (198,880) (49,444) (45,427) — 7,786 (285,965) Cash flows from financing activities Common stock dividends (111,700) (14,600) (15,100) — 29,700 [2] (111,700) Preferred stock dividends of Hawaiian Electric and subsidiaries (1,080) (534) (381) — — (1,995) Proceeds from the issuance of common stock 54,400 8,803 24,597 — (33,400) [2] 54,400 Proceeds from the 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 — (17,800) (7,900) — 25,700 [1] — Repayment of short-term debt (50,000) — — — — (50,000) Other (702) (119) (120) — — (941) Net cash provided by (used in) financing activities (49,082) 5,750 26,096 — 22,000 4,764 Net increase (decrease) in cash, cash equivalents and restricted cash (31,738) 2,280 21,390 — — (8,068) Cash, cash equivalents and restricted cash, January 1 58,171 3,046 2,032 77 — 63,326 Cash, cash equivalents and restricted cash, December 31 26,433 5,326 23,422 77 — 55,258 Less: Restricted cash (3,089) — — — — (3,089) Cash and cash equivalents, December 31 $ 23,344 5,326 23,422 77 — $ 52,169 Consolidating statement of cash flows Year ended December 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating Hawaiian Electric Cash flows from operating activities Net income $ 170,420 28,027 20,392 — (47,504) [2] $ 171,335 Adjustments to reconcile net income to net cash provided by operating activities Equity in earnings of subsidiaries (47,504) — — — 47,504 [2] — Common stock dividends received from subsidiaries 30,704 — — — (30,704) [2] — Depreciation of property, plant and equipment 151,387 39,041 32,305 — — 222,733 Other amortization 24,511 5,090 4,145 — — 33,746 Deferred income taxes 2,130 (463) 1,484 — — 3,151 State refundable credit (6,668) (1,593) (1,700) — — (9,961) Bad debt expense 1,042 620 453 — — 2,115 Allowance for equity funds used during construction (7,335) (543) (890) — — (8,768) Accrued environmental reserve 6,556 — — — — 6,556 Other 1,201 1,322 87 — — 2,610 Changes in assets and liabilities: Increase in accounts receivable (8,093) (3,349) (1,343) — 5,499 [1] (7,286) Decrease in accrued unbilled revenues 8,832 3,327 3,126 — — 15,285 Decrease (increase) in fuel oil stock 30,226 430 3,043 — — 33,699 Increase in materials and supplies (3,910) (1,583) (1,149) — — (6,642) Decrease (increase) in regulatory assets 8,526 (2,908) (4,611) — — 1,007 Decrease in regulatory liabilities (5,490) (4,489) (6,583) (16,562) Decrease in accounts payable (26,093) (1,819) (5,217) — — (33,129) Change in prepaid and accrued income taxes, tax credits and revenue taxes (25,757) (5,483) (5,998) — 58 [1] (37,180) Decrease in defined benefit pension and other postretirement benefit plans liability (3,092) (643) (571) — — (4,306) Change in other assets and liabilities (21,124) (8,864) 3,635 — (5,499) [1] (31,852) Net cash provided by operating activities 280,469 46,120 40,608 — (30,646) 336,551 Cash flows from investing activities Capital expenditures (229,127) (64,346) (57,391) — — (350,864) Advances to affiliates 1,000 8,000 — — (9,000) [1] — Other (14,340) 1,032 960 (24) 18,442 [1][2] 6,070 Net cash used in investing activities (242,467) (55,314) (56,431) (24) 9,442 (344,794) Cash flows from financing activities Common stock dividends (107,134) (16,320) (14,384) — 30,704 [2] (107,134) Preferred stock dividends of Hawaiian Electric and subsidiaries (1,080) (534) (381) — — (1,995) Proceeds from the issuance of common stock 34,000 7,500 11,000 — (18,500) [2] 34,000 Proceeds from the issuance of long-term debt 205,000 10,000 40,000 — — 255,000 Repayment of long-term debt and funds transferred for repayment of long-term debt (95,000) (14,000) — — — (109,000) Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less (46,987) 18,800 (19,800) — 9,000 [1] (38,987) Proceeds from issuance of short-term debt 100,000 — — — — 100,000 Repayment of short-term debt (100,000) — — — — (100,000) Other (1,618) (214) (377) — — (2,209) Net cash provided by (used in) financing activities (12,819) 5,232 16,058 — 21,204 29,675 Net increase (decrease) in cash, cash equivalents and restricted cash 25,183 (3,962) 235 (24) — 21,432 Cash, cash equivalents and restricted cash, January 1 32,988 7,008 1,797 101 — 41,894 Cash, cash equivalents and restricted cash, December 31 58,171 3,046 2,032 77 — 63,326 Less: Restricted cash (15,966) — — — — (15,966) Cash and cash equivalents, December 31 $ 42,205 3,046 2,032 77 — $ 47,360 Explanation of consolidating adjustments on consolidating schedules: [1] Eliminations of intercompany receivables and payables and other intercompany transactions [2] Elimination of investment in subsidiaries, carried at equity

Bank segment (HEI only) (Tables

Bank segment (HEI only) (Tables)	12 Months Ended
	Dec. 31, 2022
Bank Segment Disclosure [Abstract]
Schedule of statements of income data	Consolidating statement of income Year ended December 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 2,452,969 485,590 470,355 (327) [1] $ 3,408,587 Expenses Fuel oil 917,801 133,238 214,575 — 1,265,614 Purchased power 601,235 143,636 48,713 — 793,584 Other operation and maintenance 326,785 85,110 85,706 — 497,601 Depreciation 158,725 41,404 35,295 — 235,424 Taxes, other than income taxes 228,843 44,685 43,645 — 317,173 Total expenses 2,233,389 448,073 427,934 — 3,109,396 Operating income 219,580 37,517 42,421 (327) 299,191 Allowance for equity funds used during construction 8,464 898 1,212 — 10,574 Equity in earnings of subsidiaries 47,493 — — (47,493) [2] — Retirement defined benefits credit (expense)—other than service costs 3,296 666 (127) — 3,835 Interest expense and other charges, net (55,260) (10,659) (10,824) 327 [1] (76,416) Allowance for borrowed funds used during construction 2,769 277 370 — 3,416 Income before income taxes 226,342 28,699 33,052 (47,493) 240,600 Income taxes 36,333 6,349 6,994 — 49,676 Net income 190,009 22,350 26,058 (47,493) 190,924 Preferred stock dividends of subsidiaries — 534 381 — 915 Net income attributable to Hawaiian Electric 190,009 21,816 25,677 (47,493) 190,009 Preferred stock dividends of Hawaiian Electric 1,080 — — — 1,080 Net income for common stock $ 188,929 21,816 25,677 (47,493) $ 188,929 Consolidating statement of income Year ended December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 1,793,372 381,033 365,256 (25) [1] $ 2,539,636 Expenses Fuel oil 442,818 80,086 121,445 — 644,349 Purchased power 508,642 108,997 52,855 — 670,494 Other operation and maintenance 313,009 79,390 83,013 — 475,412 Depreciation 155,607 40,201 33,661 — 229,469 Taxes, other than income taxes 170,604 35,499 34,251 — 240,354 Total expenses 1,590,680 344,173 325,225 — 2,260,078 Operating income 202,692 36,860 40,031 (25) 279,558 Allowance for equity funds used during construction 7,734 586 1,214 — 9,534 Equity in earnings of subsidiaries 45,353 — — (45,353) [2] — Retirement defined benefits credit (expense)—other than service costs 3,348 670 (128) — 3,890 Interest expense and other charges, net (51,680) (10,353) (10,439) 25 [1] (72,447) Allowance for borrowed funds used during construction 2,617 197 436 — 3,250 Income before income taxes 210,064 27,960 31,114 (45,353) 223,785 Income taxes 31,342 6,246 6,560 — 44,148 Net income 178,722 21,714 24,554 (45,353) 179,637 Preferred stock dividends of subsidiaries — 534 381 — 915 Net income attributable to Hawaiian Electric 178,722 21,180 24,173 (45,353) 178,722 Preferred stock dividends of Hawaiian Electric 1,080 — — — 1,080 Net income for common stock $ 177,642 21,180 24,173 (45,353) $ 177,642 Consolidating statement of income Year ended December 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 1,608,305 334,221 323,430 (636) [1] $ 2,265,320 Expenses Fuel oil 354,087 72,202 88,985 — 515,274 Purchased power 446,672 73,120 48,957 — 568,749 Other operation and maintenance 311,781 73,746 88,665 — 474,192 Depreciation 151,387 39,041 32,305 — 222,733 Taxes, other than income taxes 154,191 31,181 30,450 — 215,822 Total expenses 1,418,118 289,290 289,362 — 1,996,770 Operating income 190,187 44,931 34,068 (636) 268,550 Allowance for equity funds used during construction 7,335 543 890 — 8,768 Equity in earnings of subsidiaries 47,504 — — (47,504) [2] — Retirement defined benefits credit (expense)—other than service costs (1,294) 672 (141) — (763) Interest expense and other charges, net (48,775) (10,004) (9,651) 636 [1] (67,794) Allowance for borrowed funds used during construction 2,540 160 292 — 2,992 Income before income taxes 197,497 36,302 25,458 (47,504) 211,753 Income taxes 27,077 8,275 5,066 — 40,418 Net income 170,420 28,027 20,392 (47,504) 171,335 Preferred stock dividends of subsidiaries — 534 381 — 915 Net income attributable to Hawaiian Electric 170,420 27,493 20,011 (47,504) 170,420 Preferred stock dividends of Hawaiian Electric 1,080 — — — 1,080 Net income for common stock $ 169,340 27,493 20,011 (47,504) $ 169,340 Statements of Income and Comprehensive Income Data Years ended December 31 2022 2021 2020 (in thousands) Interest and dividend income Interest and fees on loans $ 207,830 $ 198,802 $ 214,134 Interest and dividends on investment securities 58,044 43,464 30,529 Total interest and dividend income 265,874 242,266 244,663 Interest expense Interest on deposit liabilities 7,327 4,981 10,654 Interest on other borrowings 5,974 59 460 Total interest expense 13,301 5,040 11,114 Net interest income 252,573 237,226 233,549 Provision for credit losses 2,037 (25,825) 50,811 Net interest income after provision for credit losses 250,536 263,051 182,738 Noninterest income Fees from other financial services 19,830 21,225 16,447 Fee income on deposit liabilities 18,762 16,663 16,059 Fee income on other financial products 10,291 8,770 6,381 Bank-owned life insurance 2,533 7,318 6,483 Mortgage banking income 1,692 9,305 23,734 Gain on sale of real estate 1,778 — — Gain on sale of investment securities, net — 528 9,275 Other income, net 2,086 851 (256) Total noninterest income 56,972 64,660 78,123 Noninterest expense Compensation and employee benefits 113,839 113,970 104,443 Occupancy 24,026 20,584 21,573 Data processing 17,681 17,634 14,769 Services 10,679 10,327 11,121 Equipment 10,100 9,510 9,001 Office supplies, printing and postage 4,398 4,239 4,623 Marketing 3,968 3,870 3,435 FDIC insurance 3,591 3,235 2,342 Other expense 1 16,985 13,783 20,283 Total noninterest expense 205,267 197,152 191,590 Income before income taxes 102,241 130,559 69,271 Income taxes 22,252 29,325 11,688 Net income 79,989 101,234 57,583 Other comprehensive income (loss), net of taxes (298,833) (52,728) 23,608 Comprehensive income (loss) $ (218,844) $ 48,506 $ 81,191 1 2020, included approximately $5.1 million of certain direct and incremental COVID-19 related costs, including $2.5 million of compensation expense and $2.0 million of enhanced cleaning and sanitation costs. Reconciliation to amounts per HEI Consolidated Statements of Income*: Years ended December 31 2022 2021 2020 (in thousands) Interest and dividend income $ 265,874 $ 242,266 $ 244,663 Noninterest income 56,972 64,660 78,123 Less: Gain on sale of real estate 1,778 — — Less: Gain on sale of investment securities, net — 528 9,275 *Revenues-Bank 321,068 306,398 313,511 Total interest expense 13,301 5,040 11,114 Provision for credit losses 2,037 (25,825) 50,811 Noninterest expense 205,267 197,152 191,590 Less: Retirement defined benefits expense (credit)—other than service costs (723) (1,828) 1,813 Add: Gain on sale of real estate 1,778 — — *Expenses-Bank 219,550 178,195 251,702 *Operating income-Bank 101,518 128,203 61,809 Add back: Retirement defined benefits expense (credit)—other than service costs (723) (1,828) 1,813 Add back: Gain on sale of investment securities, net — 528 9,275 Income before income taxes $ 102,241 $ 130,559 $ 69,271
Schedule of statements of comprehensive income data	Statements of Income and Comprehensive Income Data Years ended December 31 2022 2021 2020 (in thousands) Interest and dividend income Interest and fees on loans $ 207,830 $ 198,802 $ 214,134 Interest and dividends on investment securities 58,044 43,464 30,529 Total interest and dividend income 265,874 242,266 244,663 Interest expense Interest on deposit liabilities 7,327 4,981 10,654 Interest on other borrowings 5,974 59 460 Total interest expense 13,301 5,040 11,114 Net interest income 252,573 237,226 233,549 Provision for credit losses 2,037 (25,825) 50,811 Net interest income after provision for credit losses 250,536 263,051 182,738 Noninterest income Fees from other financial services 19,830 21,225 16,447 Fee income on deposit liabilities 18,762 16,663 16,059 Fee income on other financial products 10,291 8,770 6,381 Bank-owned life insurance 2,533 7,318 6,483 Mortgage banking income 1,692 9,305 23,734 Gain on sale of real estate 1,778 — — Gain on sale of investment securities, net — 528 9,275 Other income, net 2,086 851 (256) Total noninterest income 56,972 64,660 78,123 Noninterest expense Compensation and employee benefits 113,839 113,970 104,443 Occupancy 24,026 20,584 21,573 Data processing 17,681 17,634 14,769 Services 10,679 10,327 11,121 Equipment 10,100 9,510 9,001 Office supplies, printing and postage 4,398 4,239 4,623 Marketing 3,968 3,870 3,435 FDIC insurance 3,591 3,235 2,342 Other expense 1 16,985 13,783 20,283 Total noninterest expense 205,267 197,152 191,590 Income before income taxes 102,241 130,559 69,271 Income taxes 22,252 29,325 11,688 Net income 79,989 101,234 57,583 Other comprehensive income (loss), net of taxes (298,833) (52,728) 23,608 Comprehensive income (loss) $ (218,844) $ 48,506 $ 81,191 1 2020, included approximately $5.1 million of certain direct and incremental COVID-19 related costs, including $2.5 million of compensation expense and $2.0 million of enhanced cleaning and sanitation costs. Reconciliation to amounts per HEI Consolidated Statements of Income*: Years ended December 31 2022 2021 2020 (in thousands) Interest and dividend income $ 265,874 $ 242,266 $ 244,663 Noninterest income 56,972 64,660 78,123 Less: Gain on sale of real estate 1,778 — — Less: Gain on sale of investment securities, net — 528 9,275 *Revenues-Bank 321,068 306,398 313,511 Total interest expense 13,301 5,040 11,114 Provision for credit losses 2,037 (25,825) 50,811 Noninterest expense 205,267 197,152 191,590 Less: Retirement defined benefits expense (credit)—other than service costs (723) (1,828) 1,813 Add: Gain on sale of real estate 1,778 — — *Expenses-Bank 219,550 178,195 251,702 *Operating income-Bank 101,518 128,203 61,809 Add back: Retirement defined benefits expense (credit)—other than service costs (723) (1,828) 1,813 Add back: Gain on sale of investment securities, net — 528 9,275 Income before income taxes $ 102,241 $ 130,559 $ 69,271
Schedule of balance sheets data	Consolidating balance sheet December 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,860 5,606 3,594 — — 52,060 Plant and equipment 5,260,685 1,425,442 1,293,383 — — 7,979,510 Finance lease right-of-use assets 48,371 — — — — 48,371 Less accumulated depreciation (1,855,150) (644,457) (586,892) — — (3,086,499) Construction in progress 215,560 23,989 35,804 — — 275,353 Utility property, plant and equipment, net 3,712,326 810,580 745,889 — — 5,268,795 Nonutility property, plant and equipment, less accumulated depreciation 5,298 115 1,532 — — 6,945 Total property, plant and equipment, net 3,717,624 810,695 747,421 — — 5,275,740 Investment in wholly-owned subsidiaries, at equity 701,833 — — — (701,833) [2] — Current assets Cash and cash equivalents 27,579 5,092 6,494 77 — 39,242 Advances to affiliates — 4,500 21,700 — (26,200) [1] — Customer accounts receivable, net 216,802 39,339 32,197 — — 288,338 Accrued unbilled revenues, net 136,508 23,839 22,933 — — 183,280 Other accounts receivable, net 23,746 5,519 6,686 — (22,384) [1] 13,567 Fuel oil stock, at average cost 153,342 16,964 21,224 — — 191,530 Materials and supplies, at average cost 48,130 9,783 21,655 — — 79,568 Prepayments and other 24,040 6,346 4,137 — (1,041) [1] 33,482 Regulatory assets 46,504 2,435 3,334 — — 52,273 Total current assets 676,651 113,817 140,360 77 (49,625) 881,280 Other long-term assets Operating lease right-of-use assets 42,752 34,283 12,283 — — 89,318 Regulatory assets 154,040 21,816 14,384 — — 190,240 Other 115,028 32,654 29,495 — (16,288) [1] 160,889 Total other long-term assets 311,820 88,753 56,162 — (16,288) 440,447 Total assets $ 5,407,928 1,013,265 943,943 77 (767,746) $ 6,597,467 Capitalization and liabilities Capitalization Common stock equity $ 2,344,170 344,720 357,036 77 (701,833) [2] $ 2,344,170 Cumulative preferred stock–not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,126,915 224,439 233,500 — — 1,584,854 Total capitalization 3,493,378 576,159 595,536 77 (701,833) 3,963,317 Current liabilities Current portion of operating lease liabilities 9,775 6,690 2,630 — — 19,095 Current portion of long-term debt, net 49,981 19,992 29,989 — — 99,962 Short-term borrowings-non-affiliate 87,967 — — — — 87,967 Short-term borrowings-affiliate 26,200 — — — (26,200) [1] — Accounts payable 143,253 32,113 27,126 — — 202,492 Interest and preferred dividends payable 12,398 2,576 2,282 — (80) [1] 17,176 Taxes accrued, including revenue taxes 207,798 42,436 40,709 — (1,041) [1] 289,902 Regulatory liabilities 13,145 8,553 9,777 — — 31,475 Other 64,659 20,856 22,385 — (22,304) [1] 85,596 Total current liabilities 615,176 133,216 134,898 — (49,625) 833,665 Deferred credits and other liabilities Operating lease liabilities 41,049 27,817 9,849 — — 78,715 Finance lease liabilities 46,048 — — — — 46,048 Deferred income taxes 271,234 50,615 62,581 — — 384,430 Regulatory liabilities 729,683 194,222 100,270 — — 1,024,175 Unamortized tax credits 69,614 13,150 12,536 — — 95,300 Defined benefit pension and other postretirement benefit plans liability 65,907 129 — — (16,288) [1] 49,748 Other 75,839 17,957 28,273 — 122,069 Total deferred credits and other liabilities 1,299,374 303,890 213,509 — (16,288) 1,800,485 Total capitalization and liabilities $ 5,407,928 1,013,265 943,943 77 (767,746) $ 6,597,467 Consolidating balance sheet December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating 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) [2] — 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) [1] — 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) [1] 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 [1] 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) [1] 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] $ 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) [1] — Accounts payable 111,024 26,139 22,844 — — 160,007 Interest and preferred dividends payable 12,442 2,617 2,269 — (3) [1] 17,325 Taxes accrued, including revenue taxes 143,723 33,153 30,679 — 725 [1] 208,280 Regulatory liabilities 22,240 3,247 4,273 — — 29,760 Other 56,752 14,158 18,540 — (17,881) [1] 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) [1] 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 December 31 2022 2021 (in thousands) Assets Cash and due from banks $ 153,042 $ 100,051 Interest-bearing deposits 3,107 151,189 Cash and cash equivalents 156,149 251,240 Investment securities Available-for-sale, at fair value 1,429,667 2,574,618 Held-to-maturity, at amortized cost (fair value of $1,150,971 and $510,474 at December 31, 2022 and 2021, respectively) 1,251,747 522,270 Stock in Federal Home Loan Bank, at cost 26,560 10,000 Loans held for investment 5,978,906 5,211,114 Allowance for credit losses (72,216) (71,130) Net loans 5,906,690 5,139,984 Loans held for sale, at lower of cost or fair value 824 10,404 Other 692,143 590,897 Goodwill 82,190 82,190 Total assets $ 9,545,970 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities–noninterest-bearing $ 2,811,077 $ 2,976,632 Deposit liabilities–interest-bearing 5,358,619 5,195,580 Other borrowings 695,120 88,305 Other 212,269 193,268 Total liabilities 9,077,085 8,453,785 Commitments and contingencies Common stock 1 1 Additional paid in capital 355,806 353,895 Retained earnings 449,693 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (328,904) $ (32,037) Retirement benefit plans (7,711) (336,615) (5,745) (37,782) Total shareholder’s equity 468,885 727,818 Total liabilities and shareholder’s equity $ 9,545,970 $ 9,181,603 December 31 2022 2021 (in thousands) Other assets Bank-owned life insurance $ 182,986 $ 177,566 Premises and equipment, net 195,324 202,299 Accrued interest receivable 25,077 20,854 Mortgage servicing rights 9,047 9,950 Low-income housing investments 106,978 110,989 Deferred tax asset 116,441 7,699 Real estate acquired in settlement of loans, net 115 — Other 56,175 61,540 $ 692,143 $ 590,897 Other liabilities Accrued expenses $ 97,295 $ 87,905 Federal income taxes payable 863 — Cashier’s checks 36,401 33,675 Advance payments by borrowers 9,637 9,994 Other 68,073 61,694 $ 212,269 $ 193,268
Schedule of the book value and aggregate fair value by major security type	The major components of investment securities were as follows: Gross unrealized losses Gross unrealized Gross unrealized Estimated fair value Less than 12 months 12 months or longer (dollars in thousands) Amortized Number of issues Fair value Amount Number of issues Fair value Amount December 31, 2022 Available-for-sale U.S. Treasury and federal agency obligations $ 88,344 $ — $ (7,281) $ 81,063 12 $ 41,201 $ (2,120) 4 $ 39,862 $ (5,161) Mortgage-backed securities* 1,530,582 — (237,614) 1,292,968 113 455,836 (56,999) 70 837,132 (180,615) Corporate bonds 44,377 — (3,643) 40,734 4 29,644 (2,028) 1 11,090 (1,615) Mortgage revenue bonds 14,902 — — 14,902 — — — — — — $ 1,678,205 $ — $ (248,538) $ 1,429,667 129 $ 526,681 $ (61,147) 75 $ 888,084 $ (187,391) Held-to-maturity U.S. Treasury and federal agency obligations $ 59,894 $ — $ (8,478) $ 51,416 1 $ 16,874 $ (3,222) 2 $ 34,542 $ (5,256) Mortgage-backed securities* 1,191,853 2,670 (94,968) 1,099,555 22 183,629 (10,593) 51 567,250 (84,375) $ 1,251,747 $ 2,670 $ (103,446) $ 1,150,971 23 $ 200,503 $ (13,815) 53 $ 601,792 $ (89,631) 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: Amortized Fair December 31, 2022 Cost value (in thousands) Available-for-sale Due in one year or less $ 1,193 $ 1,171 Due after one year through five years 106,628 98,871 Due after five years through ten years 39,802 36,657 Due after ten years — — 147,623 136,699 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,530,582 1,292,968 Total available-for-sale securities $ 1,678,205 $ 1,429,667 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 59,894 51,416 Due after ten years — — 59,894 51,416 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,191,853 1,099,555 Total held-to-maturity securities $ 1,251,747 $ 1,150,971
Schedule of proceeds, gains and losses from sales of available for sale investment securities	The proceeds, gross gains and losses from sales of available-for-sale securities were as follows: Years ended December 31 2022 2021 2020 (in thousands) Proceeds $ — $ 197,354 $ 169,157 Gross gains — 975 9,275 Gross losses — (447) — Tax expense on realized gains — 142 2,486
Schedule of interest income from available for sale investment securities	Interest income from taxable and non-taxable investment securities were as follows: Years ended December 31 2022 2021 2020 (in thousands) Taxable $ 56,731 $ 42,534 $ 29,760 Non-taxable 1,313 930 769 $ 58,044 $ 43,464 $ 30,529
Schedule of loans receivable	The components of loans were summarized as follows: December 31 2022 2021 (in thousands) Real estate: Residential 1-4 family $ 2,479,637 $ 2,299,212 Commercial real estate 1,358,123 1,056,982 Home equity line of credit 1,002,905 835,663 Residential land 20,679 19,859 Commercial construction 88,489 91,080 Residential construction 20,788 11,138 Total real estate 4,970,621 4,313,934 Commercial 779,691 793,304 Consumer 254,709 113,966 Total loans 6,005,021 5,221,204 Less: Deferred fees and discounts (26,115) (10,090) Allowance for credit losses (72,216) (71,130) Total loans, net $ 5,906,690 $ 5,139,984
Schedule of allowance for loan losses	The allowance for credit losses (balances and changes) and financing receivables by portfolio segment were as follows: (in thousands) Residential 1-4 family Commercial Home equity Residential land Commercial construction Residential construction Commercial Consumer Total December 31, 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 (13) — — — — — (563) (6,254) (6,830) Recoveries 79 — 71 104 — — 1,288 3,837 5,379 Net (charge-offs) recoveries 66 — 71 104 — — 725 (2,417) (1,451) Provision (341) (2,798) 397 (33) (991) 28 (4,097) 10,372 2,537 Ending balance $ 6,270 $ 21,898 $ 6,125 $ 717 $ 1,195 $ 46 $ 12,426 $ 23,539 $ 72,216 Average loans outstanding $ 2,331,473 $ 1,204,756 $ 918,563 $ 21,442 $ 90,021 $ 18,317 $ 710,658 $ 161,722 $ 5,456,952 Net charge-offs (recoveries) to average loans — % — % (0.01 %) (0.49 %) — % — % (0.10 %) 1.49 % 0.03 % December 31, 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 (67) — (45) — — — (1,561) (8,027) (9,700) Recoveries 92 — 113 61 — — 1,468 4,320 6,054 Net (charge-offs) recoveries 25 — 68 61 — — (93) (3,707) (3,646) Provision 1,920 (10,911) (1,224) (24) (1,963) 7 (9,571) (4,659) (26,425) Ending balance $ 6,545 $ 24,696 $ 5,657 $ 646 $ 2,186 $ 18 $ 15,798 $ 15,584 $ 71,130 Average loans outstanding $ 2,155,322 $ 1,046,276 $ 885,759 $ 18,227 $ 111,711 $ 11,361 $ 856,226 $ 135,609 $ 5,220,491 Net charge-offs (recoveries) to average loans — % — % (0.01 %) (0.33 %) — % — % 0.01 % 2.73 % 0.07 % December 31, 2020 Allowance for credit losses: Beginning balance, prior to adoption of ASU No. 2016-13 $ 2,380 $ 15,053 $ 6,922 $ 449 $ 2,097 $ 3 $ 10,245 $ 16,206 $ 53,355 Impact of adopting ASU No. 2016-13 2,150 208 (541) (64) 289 14 922 16,463 19,441 Charge-offs (7) — (77) (351) — — (5,819) (19,900) (26,154) Recoveries 394 — 63 38 — — 872 3,381 4,748 Net (charge-offs) recoveries 387 — (14) (313) — — (4,947) (16,519) (21,406) Provision (317) 20,346 446 537 1,763 (6) 19,242 7,800 49,811 Ending balance $ 4,600 $ 35,607 $ 6,813 $ 609 $ 4,149 $ 11 $ 25,462 $ 23,950 $ 101,201 Average loans outstanding $ 2,148,848 $ 861,096 $ 1,060,444 $ 13,799 $ 93,740 $ 10,703 $ 935,663 $ 215,994 $ 5,340,287 Net charge-offs (recoveries) to average loans (0.02) % — % — % 2.27 % — % — % 0.53 % 7.65 % 0.40 % Loans considered collateral-dependent were as follows: December 31, 2022 December 31, 2021 Amortized cost Collateral type Amortized cost Collateral type (in thousands) Real estate: Residential 1-4 family $ 3,959 Residential real estate property $ 3,493 Residential real estate property Commercial real estate — 1,221 Commercial real estate property Home equity line of credit 1,425 Residential real estate property 1,294 Residential real estate property Residential land — 300 Residential real estate property Total real estate 5,384 6,308 Commercial — 692 Business assets Total $ 5,384 $ 7,000
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 Year ended December 31, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,700 $ 800 $ 4,900 Provision — (1,100) 600 (500) Ending balance $ 400 $ 2,600 $ 1,400 $ 4,400 Year ended December 31, 2021 Allowance for loan commitments: Beginning balance $ 300 $ 3,000 $ 1,000 $ 4,300 Provision 100 700 (200) 600 Ending balance $ 400 $ 3,700 $ 800 $ 4,900 Year ended December 31, 2020 Allowance for loan commitments: Beginning balance, prior to adoption of ASU No. 2016-13 $ 392 $ 931 $ 418 $ 1,741 Impact of adopting ASU No. 2016-13 (92) 1,745 (94) 1,559 Provision — 324 676 1,000 Ending balance $ 300 $ 3,000 $ 1,000 $ 4,300
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 loans Converted to term loans Total December 31, 2022 Residential 1-4 family Current $ 432,707 $ 755,056 $ 423,455 $ 113,096 $ 51,860 $ 698,354 $ — $ — $ 2,474,528 30-59 days past due — — — — 448 1,098 — — 1,546 60-89 days past due — — 268 — — 90 — — 358 Greater than 89 days past due — — — — 809 2,396 — — 3,205 432,707 755,056 423,723 113,096 53,117 701,938 — — 2,479,637 Home equity line of credit Current — — — — — — 959,131 40,814 999,945 30-59 days past due — — — — — — 1,103 209 1,312 60-89 days past due — — — — — — 209 226 435 Greater than 89 days past due — — — — — — 587 626 1,213 — — — — — — 961,030 41,875 1,002,905 Residential land Current 5,245 9,010 5,222 203 522 477 — — 20,679 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 5,245 9,010 5,222 203 522 477 — — 20,679 Residential construction Current 7,986 11,624 1,178 — — — — — 20,788 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 7,986 11,624 1,178 — — — — — 20,788 Consumer Current 199,574 21,330 5,543 7,580 527 140 10,810 4,782 250,286 30-59 days past due 1,110 287 65 239 30 — 81 167 1,979 60-89 days past due 756 163 88 137 19 — 45 107 1,315 Greater than 89 days past due 621 105 37 176 28 — 20 142 1,129 202,061 21,885 5,733 8,132 604 140 10,956 5,198 254,709 Commercial real estate Pass 390,206 177,130 283,321 51,542 63,084 278,280 8,235 — 1,251,798 Special Mention — 11,250 3,446 40,423 — 24,466 — — 79,585 Substandard — — 665 11,357 — 14,718 — — 26,740 Doubtful — — — — — — — — — 390,206 188,380 287,432 103,322 63,084 317,464 8,235 — 1,358,123 Commercial construction Pass 15,094 47,478 44 — — — 25,873 — 88,489 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 15,094 47,478 44 — — — 25,873 — 88,489 Commercial Pass 239,852 185,013 85,220 68,161 46,142 53,192 60,871 13,964 752,415 Special Mention — — — 2,374 — 645 9,005 8 12,032 Substandard 3,322 2,305 401 1,304 1,346 3,849 1,664 1,053 15,244 Doubtful — — — — — — — — — 243,174 187,318 85,621 71,839 47,488 57,686 71,540 15,025 779,691 Total loans $ 1,296,473 $ 1,220,751 $ 808,953 $ 296,592 $ 164,815 $ 1,077,705 $ 1,077,634 $ 62,098 $ 6,005,021 Term loans by origination year Revolving loans (in thousands) 2021 2020 2019 2018 2017 Prior Revolving loans 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 Greater Total Current Total Recorded December 31, 2022 Real estate: Residential 1-4 family $ 1,546 $ 358 $ 3,205 $ 5,109 $ 2,474,528 $ 2,479,637 $ — Commercial real estate 508 217 — 725 1,357,398 1,358,123 — Home equity line of credit 1,312 435 1,213 2,960 999,945 1,002,905 — Residential land — — — — 20,679 20,679 — Commercial construction — — — — 88,489 88,489 — Residential construction — — — — 20,788 20,788 — Commercial 614 18 77 709 778,982 779,691 — Consumer 1,979 1,315 1,129 4,423 250,286 254,709 — Total loans $ 5,959 $ 2,343 $ 5,624 $ 13,926 $ 5,991,095 $ 6,005,021 $ — 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: December 31, 2022 December 31, 2021 (in thousands) With a related Without a Total With a related Without a Total Real estate: Residential 1-4 family $ 4,198 $ 2,981 $ 7,179 $ 16,045 $ 3,703 $ 19,748 Commercial real estate — — — 14,104 1,221 15,325 Home equity line of credit 3,654 1,442 5,096 4,227 1,294 5,521 Residential land 420 — 420 97 300 397 Commercial construction — — — — — — Residential construction — — — — — — Commercial 2,183 — 2,183 1,446 692 2,138 Consumer 1,588 — 1,588 1,845 — 1,845 Total $ 12,043 $ 4,423 $ 16,466 $ 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) December 31, 2022 December 31, 2021 Real estate: Residential 1-4 family $ 8,821 $ 6,949 Commercial real estate 9,477 3,055 Home equity line of credit 4,404 6,021 Residential land 782 980 Commercial construction — — Residential construction — — Commercial 6,596 7,860 Consumer 50 52 Total troubled debt restructured loans accruing interest $ 30,130 $ 24,917
Schedule of loan modifications	Loan modifications that occurred during 2022, 2021, and 2020 were as follows: (dollars in thousands) Number of contracts Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Year ended December 31, 2022 Real estate: Residential 1-4 family 5 $ 1,475 $ 164 Commercial real estate — — — Home equity line of credit — — — Residential land 1 203 42 Commercial construction — — — Residential construction — — — Commercial 3 2,634 497 Consumer — — — 9 $ 4,312 $ 703 Year ended December 31, 2021 Real estate: Residential 1-4 family 14 $ 8,379 $ 442 Commercial real estate — — — Home equity line of credit — — — Residential land 3 799 38 Commercial construction — — — Residential construction — — — Commercial 7 2,931 205 Consumer — — — 24 $ 12,109 $ 685 Year ended December 31, 2020 Real estate: Residential 1-4 family 1 $ 144 $ 6 Commercial real estate 6 20,714 4,439 Home equity line of credit 3 85 11 Residential land 4 668 54 Commercial construction — — — Residential construction — — — Commercial 54 5,380 869 Consumer — — — 68 $ 26,991 $ 5,379 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 loans modified in TDRS that experienced a payment default of 90 days or more, and for which payment default occurred within one year of the modification	Loans modified in TDRs that experienced a payment default of 90 days or more in 2022, 2021, and 2020 and for which the payment default occurred within one year of the modification, were as follows: Years ended December 31 2022 2021 2020 (dollars in thousands) Number of Recorded Number of Recorded Number of Recorded Troubled debt restructurings that subsequently defaulted Real estate: Residential 1-4 family — $ — 1 $ 474 — $ — Commercial real estate — — — — — — Home equity line of credit — — — — — — Residential land — — — — — — Commercial construction — — — — — — Residential construction — — — — — — Commercial — — 1 9 — — Consumer — — — — — — — $ — 2 $ 483 — $ —
Schedule of amortized intangible assets	Changes in the carrying value of MSRs were as follows: (in thousands) Gross carrying amount Accumulated amortization Valuation allowance Net December 31, 2022 $ 19,544 $ (10,497) $ — $ 9,047 December 31, 2021 $ 18,674 $ (8,724) $ — $ 9,950 Changes related to MSRs were as follows: (in thousands) 2022 2021 2020 Mortgage servicing rights Balance, January 1 $ 9,950 $ 10,280 $ 9,101 Amount capitalized 1,130 3,404 5,096 Amortization (2,033) (3,734) (3,917) Sale of mortgage servicing rights — — — Other-than-temporary impairment — — — Carrying amount before valuation allowance, December 31 9,047 9,950 10,280 Valuation allowance for mortgage servicing rights Balance, January 1 — 260 — Provision — (260) 260 Other-than-temporary impairment — — — Balance, December 31 — — 260 Net carrying value of mortgage servicing rights $ 9,047 $ 9,950 $ 10,020
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: December 31 2022 2021 (dollars in thousands) Unpaid principal balance $ 1,451,322 $ 1,481,899 Weighted average note rate 3.38 % 3.38 % Weighted average discount rate 10.00 % 9.25 % Weighted average prepayment speed 6.56 % 9.77 %
Schedule of sensitivity analysis of fair value of MSR to hypothetical adverse changes	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: December 31 2022 2021 (in thousands) Prepayment rate: 25 basis points adverse rate change $ (92) $ (714) 50 basis points adverse rate change (214) (1,608) Discount rate: 25 basis points adverse rate change (182) (129) 50 basis points adverse rate change (361) (256)
Schedule of deposit liabilities	The summarized components of deposit liabilities were as follows: December 31 2022 2021 (dollars in thousands) Weighted-average stated rate Amount Weighted-average stated rate Amount Savings 0.03 % $ 3,198,329 0.03 % $ 3,234,646 Checking Interest-bearing 0.17 1,359,519 0.02 1,344,049 Noninterest-bearing — 1,453,937 — 1,472,727 Commercial checking — 1,357,140 — 1,503,905 Money market 0.82 189,053 0.06 192,909 Time certificates 2.39 611,718 0.67 423,976 0.24 % $ 8,169,696 0.05 % $ 8,172,212
Schedule of maturities of term certificates	The approximate scheduled maturities of time certificates outstanding at December 31, 2022 were as follows: (in thousands) 2023 $ 495,577 2024 59,493 2025 34,360 2026 11,224 2027 8,327 Thereafter 2,737 $ 611,718
Schedule of interest expense on deposit liabilities by type	Interest expense on deposit liabilities by type of deposit was as follows: Years ended December 31 2022 2021 2020 (in thousands) Time certificates $ 5,372 $ 3,805 $ 7,944 Savings 860 802 1,774 Money market 330 132 465 Interest-bearing checking 765 242 471 $ 7,327 $ 4,981 $ 10,654
Schedule of securities sold under agreements to repurchase, which provided for repurchase of identical securities	Information concerning securities sold under agreements to repurchase, which provided for the repurchase of identical securities, was as follows: (dollars in thousands) 2022 2021 2020 Amount outstanding as of December 31 $ 281,120 $ 88,305 $ 89,670 Average amount outstanding during the year 127,170 88,405 73,738 Maximum amount outstanding as of any month-end 284,040 129,665 100,580 Weighted-average interest rate as of December 31 3.02 % 0.02 % 0.02 % Weighted-average interest rate during the year 0.99 % 0.02 % 0.42 % Weighted-average remaining days to maturity as of December 31 1 1 1
Schedule of securities sold under agreements to repurchase	The following tables present information about the securities sold under agreements to repurchase, including the related collateral received from or pledged to counterparties: (in millions) Gross amount of Gross amount Net amount of Repurchase agreements December 31, 2022 $ 281 $ — $ 281 December 31, 2021 88 — 88 Gross amount not offset in the Balance Sheets (in millions) Net amount of Financial Cash Commercial account holders December 31, 2022 $ 281 $ 327 $ — December 31, 2021 88 161 — Securities sold under agreements to repurchase were summarized as follows: December 31 2022 2021 Maturity Repurchase liability Weighted-average Collateralized by Repurchase liability Weighted-average Collateralized by (dollars in thousands) Overnight $ 281,120 3.02 % $ 326,841 $ 88,305 0.02 % $ 160,847 1 to 29 days — — % — — — % — 30 to 90 days — — % — — — % — Over 90 days — — % — — — % — $ 281,120 3.02 % $ 326,841 $ 88,305 0.02 % $ 160,847
Schedule of actual and minimum required capital amounts and ratios	The tables below set forth actual and minimum required capital amounts and ratios: Actual Minimum required Required to be well capitalized (dollars in thousands) Capital Ratio Capital Ratio Capital Ratio December 31, 2022 Tier 1 leverage $ 750,851 7.78 % $ 386,265 4.00 % $ 482,831 5.00 % Common equity tier 1 750,851 12.15 % 278,076 4.50 % 401,665 6.50 % Tier 1 capital 750,851 12.15 % 370,767 6.00 % 494,356 8.00 % Total capital 811,729 13.14 % 494,356 8.00 % 617,946 10.00 % December 31, 2021 Tier 1 leverage 714,789 7.86 % 363,630 4.00 % 454,538 5.00 % Common equity tier 1 714,789 13.29 % 242,072 4.50 % 349,659 6.50 % Tier 1 capital 714,789 13.29 % 322,762 6.00 % 430,350 8.00 % Total capital 769,836 14.31 % 430,350 8.00 % 537,937 10.00 %
Schedule of notional amounts and fair value of derivatives	The notional amount and fair value of ASB’s derivative financial instruments were as follows: December 31 2022 2021 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 1,720 $ 9 $ 39,377 $ 638 Forward commitments 1,500 18 38,000 (11)
Schedule of derivative financial instruments, fair values, and balance sheet location	ASB’s derivative financial instruments, their fair values, and balance sheet location were as follows: Derivative Financial Instruments Not Designated as Hedging Instruments 1 December 31 2022 2021 (in thousands) Asset derivatives Liability derivatives Asset derivatives Liability derivatives Interest rate lock commitments $ 9 $ — $ 638 $ — Forward commitments 18 — — 11 $ 27 $ — $ 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 amount and location of net gains or losses	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 Location of net gains as Hedging Instruments (losses) recognized in Years ended December 31 (in thousands) the Statements of Income 2022 2021 2020 Interest rate lock commitments Mortgage banking income $ (629) $ (3,898) $ 4,239 Forward commitments Mortgage banking income 29 489 (458) $ (600) $ (3,409) $ 3,781
Schedule of off balance sheet arrangements	The following is a summary of outstanding off-balance sheet arrangements: December 31 2022 2021 (in thousands) Unfunded commitments to extend credit: Home equity line of credit $ 1,264,320 $ 1,181,496 Commercial and commercial real estate 692,989 612,158 Consumer 85,768 62,090 Residential 1-4 family 20,546 44,262 Commercial and financial standby letters of credit 15,521 11,723 Total $ 2,079,144 $ 1,911,729

Long-term debt (Tables)

Long-term debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of long-term debt	December 31 2022 2021 (dollars in thousands) Long-term debt of Utilities, net of unamortized debt issuance costs 1 $ 1,684,816 $ 1,676,402 HEI 2.99% term loan, paid in 2022 — 150,000 HEI 3.99% senior notes, due 2023 50,000 50,000 HEI 4.58% senior notes, due 2025 50,000 50,000 HEI 4.72% senior notes, due 2028 100,000 100,000 HEI 2.82% senior notes, due 2028 24,000 24,000 HEI 2.48% senior notes, due 2028 30,000 30,000 HEI 2.98% senior notes, due 2030 50,000 50,000 HEI 3.15% senior notes, due 2031 51,000 51,000 HEI 2.78% senior notes, due 2031 25,000 25,000 HEI 2.98% senior notes, due 2032 30,000 — HEI 5.43% senior notes, due 2032 75,000 — HEI 5.43% senior notes, due 2034 35,000 — HEI 3.74% senior notes, due 2051 20,000 20,000 HEI 3.94% senior notes, due 2052 20,000 — Hamakua Energy 4.02% non-recourse notes, due 2030 2 49,048 52,166 Mauo LIBOR + 1.375% loan, due 2023 3 11,060 21,702 Mauo 4.90% non-recourse term loan, due 2034 2 17,692 12,686 Kaʻieʻie Waho 2.79% non-recourse loan, due 2031 2 10,936 12,145 Mahipapa 1.90% non-recourse loan, due 2034 to 2036 2 58,869 — Mahipapa 5.25% non-recourse loan, due 2027 2 724 — Less unamortized debt issuance costs and debt discount (8,165) (3,164) $ 2,384,980 $ 2,321,937 1 See components of “Total long-term debt” and unamortized debt issuance costs in Hawaiian Electric and subsidiaries’ Consolidated Statements of Capitalization. 2 Secured by real and personal property of the respective entity, including various land parcels, a 60MW combined cycle facility, photovoltaic and battery storage infrastructure, and a biomass plant. The aggregate net book value of the collateralized property, plant & equipment is approximately $198 million as of December 31, 2022.
Schedule of notes	The following table displays HEI private placements drawn in 2022. HEI Series 2022A HEI Series 2022B HEI Series 2022C HEI Green Series 2022D Aggregate principal amount $30 million $20 million $75 million $35 million Fixed coupon interest rate 2.98% 3.94% 5.43% 5.43% Maturity date 10/26/2032 10/26/2052 11/1/2032 11/1/2034 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 Series 2023A Series 2023B Series 2023C Aggregate principal amount $90 million $40 million $20 million Fixed coupon interest rate Hawaiian Electric 6.11% 6.25% 6.70% Hawaii Electric Light 6.25% — — Maui Electric 6.25% — — Maturity date Hawaiian Electric 2/9/2030 2/9/2033 2/9/2053 Hawaii Electric Light 2/9/2033 — — Maui Electric 2/9/2033 — — Principal amount by company: Hawaiian Electric $40 million $40 million $20 million Hawaii Electric Light $25 million — — Maui Electric $25 million — —

Shareholders' equity (Tables)

Shareholders' equity (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of accumulated other comprehensive income	Changes in the balances of each component of 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, 2019 $ 2,481 $ (1,613) $ (20,907) $ (20,039) $ (1,279) Current period other comprehensive income (loss) and reclassifications, net of taxes 17,505 (1,750) 3,020 18,775 (1,640) Balance, December 31, 2020 19,986 (3,363) (17,887) (1,264) (2,919) Current period other comprehensive income (loss) and reclassifications, net of taxes (52,023) (275) 1,029 (51,269) (361) Balance, December 31, 2021 (32,037) (3,638) (16,858) (52,533) (3,280) Current period other comprehensive income (loss) and reclassifications, net of taxes (296,867) 5,629 7,743 (283,495) 6,141 Balance, December 31, 2022 $ (328,904) $ 1,991 $ (9,115) $ (336,028) $ 2,861
Schedule of reclassifications out of AOCI	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Statement of Years ended December 31 2022 2021 2020 (in thousands) HEI consolidated Net unrealized gains (losses) on available-for sale investment securities: Net realized gains on securities included in net income $ — $ (387) $ (1,638) Gain on sale of investment securities, net Amortization of unrealized holding losses on held-to-maturity securities 3,993 — — Bank revenues Net realized losses on derivatives qualifying as cash flow hedges 172 37 — Interest expense Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 19,659 19,253 23,689 See Note 10 for additional details Impact of D&Os of the PUC included in regulatory assets (199,936) (171,345) 39,860 See Note 10 for additional details Total reclassifications $ (176,112) $ (152,442) $ 61,911 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 18,884 $ 19,461 $ 21,550 See Note 10 for additional details Impact of D&Os of the PUC included in regulatory assets (199,936) (171,345) 39,860 See Note 10 for additional details Total reclassifications $ (181,052) $ (151,884) $ 61,410

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Lease cost	Amounts related to the Company’s total lease cost and cash flows arising from lease transactions are as follows: HEI consolidated Hawaiian Electric consolidated Year ended December 31, 2022 Other leases PPAs classified as leases Total Other leases PPAs classified as leases Total (dollars in thousands) Operating lease cost $ 20,811 $ 46,160 $ 66,971 $ 15,030 $ 46,160 $ 61,190 Variable lease cost 8,931 241,199 250,130 6,152 241,199 247,351 Sublease income (2,675) — (2,675) (2,675) — (2,675) Total operating lease cost $ 27,067 $ 287,359 $ 314,426 $ 18,507 $ 287,359 $ 305,866 Finance lease costs: Amortization of right-of-use assets $ 188 $ 1,008 $ 1,196 $ — $ 1,008 $ 1,008 Interest on lease liabilities 20 786 806 — 786 786 Total finance lease cost $ 208 $ 1,794 $ 2,002 $ — $ 1,794 $ 1,794 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 19,143 $ 40,050 $ 59,193 $ 14,068 $ 40,050 $ 54,118 Operating cash flows from financing leases $ 20 $ 786 $ 806 $ — $ 786 $ 786 Financing cash flows from financing leases $ 179 $ 670 $ 849 $ — $ 670 $ 670 Weighted-average remaining lease term (in years): Operating leases 8.1 5.0 7.7 7.3 5.0 6.8 Finance leases 2.4 19.6 19.2 — 19.6 19.6 Weighted-average discount rate: Operating leases 2.96 % 3.50 % 3.04 % 2.94 % 3.50 % 3.05 % Finance leases 3.77 % 3.92 % 3.92 % — 3.92 % 3.92 % HEI consolidated Hawaiian Electric consolidated Year ended December 31, 2021 Other leases PPAs classified as leases Total Other leases PPAs classified as leases Total (dollars in thousands) Operating lease cost $ 14,184 $ 66,070 $ 80,254 $ 8,578 $ 66,070 $ 74,648 Variable lease cost 14,360 257,472 271,832 11,586 257,472 269,058 Sublease income (2,515) — (2,515) (2,515) — (2,515) Total lease cost $ 26,029 $ 323,542 $ 349,571 $ 17,649 $ 323,542 $ 341,191 Other information Cash paid for amounts included in the measurement of lease liabilities—Operating cash flows from operating leases $ 11,239 $ 62,136 $ 73,375 $ 6,168 $ 62,136 $ 68,304 Weighted-average remaining lease term—operating leases (in years) 9.1 2.5 6.1 10.0 2.5 5.9 Weighted-average discount rate—operating leases 2.84 % 3.63 % 3.18 % 2.98 % 3.63 % 3.31 %
Schedule of operating lease liabilities	The following table summarizes the maturity of our operating lease liabilities as of December 31, 2022: HEI consolidated Hawaiian Electric consolidated (in millions) Other leases PPAs classified as leases Total Other leases PPAs classified as leases Total 2023 $ 24 $ 4 $ 28 $ 18 $ 4 $ 22 2024 21 4 25 15 4 19 2025 16 4 20 12 4 16 2026 15 4 19 12 4 16 2027 9 4 13 6 4 10 Thereafter 38 — 38 25 — 25 Total lease payments 123 20 143 88 20 108 Less: Imputed interest (15) (1) (16) (9) (1) (10) Total present value of lease payments 1 $ 108 $ 19 $ 127 $ 79 $ 19 $ 98 1 The fixed capacity payment related to the existing PPA with PGV, which will expire on December 31, 2027, is included as a lease liability as of December 31, 2021. The PGV facility returned to service with firm capacity in the first quarter of 2021. The annual capacity payment based on the most recent accepted output is approximately $4 million. The lease liability will be remeasured when PGV ramps back up to the original contracted firm capacity. The following table summarizes the maturity of our finance lease liabilities for PPAs as of December 31, 2022: HEI consolidated Hawaiian Electric consolidated (in millions) PPAs classified as leases PPAs classified as leases 2023 3 $ 3 2024 3 3 2025 3 3 2026 4 4 2027 4 4 Thereafter 52 52 Total lease payments 69 69 Less: Imputed interest (21) (21) Total present value of lease payments $ 48 $ 48

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Year ended December 31, 2022 Year ended December 31, 2021 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 1,078,372 $ — $ — $ 1,078,372 $ 830,653 $ — $ — $ 830,653 Electric energy sales - commercial 1,087,485 — — 1,087,485 791,424 — — 791,424 Electric energy sales - large light and power 1,221,608 — — 1,221,608 837,834 — — 837,834 Electric energy sales - other 17,063 — — 17,063 10,770 — — 10,770 Bank fees — 48,883 — 48,883 — 46,658 — 46,658 Other sales — — 11,804 11,804 — — 4,086 4,086 Total revenues from contracts with customers 3,404,528 48,883 11,804 3,465,215 2,470,681 46,658 4,086 2,521,425 Revenues from other sources Regulatory revenue (29,124) — — (29,124) 40,069 — — 40,069 Bank interest and dividend income — 265,874 — 265,874 — 242,266 — 242,266 Other bank noninterest income — 6,311 — 6,311 — 17,474 — 17,474 Other 33,183 — 526 33,709 28,886 — 259 29,145 Total revenues from other sources 4,059 272,185 526 276,770 68,955 259,740 259 328,954 Total revenues $ 3,408,587 $ 321,068 $ 12,330 $ 3,741,985 $ 2,539,636 $ 306,398 $ 4,345 $ 2,850,379 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 48,883 $ — $ 48,883 $ — $ 46,658 $ — $ 46,658 Services/goods transferred over time 3,404,528 — 11,804 3,416,332 2,470,681 — 4,086 2,474,767 Total revenues from contracts with customers $ 3,404,528 $ 48,883 $ 11,804 $ 3,465,215 $ 2,470,681 $ 46,658 $ 4,086 $ 2,521,425

Retirement benefits (Tables)

Retirement benefits (Tables)	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Schedule of changes in the obligations and assets of the Company's retirement benefit plans and the changes in AOCI (gross) and the funded status	The changes in the obligations and assets of the Company’s and Utilities’ retirement benefit plans and the changes in AOCI (gross) for 2022 and 2021 and the funded status of these plans and amounts related to these plans reflected in the Company’s and Utilities’ consolidated balance sheets as of December 31, 2022 and 2021 were as follows: 2022 2021 (in thousands) Pension Other Pension Other HEI consolidated Benefit obligation, January 1 $ 2,644,639 $ 218,151 $ 2,624,530 $ 226,421 Service cost 78,173 2,580 81,432 2,827 Interest cost 80,062 6,502 75,361 6,122 Actuarial gains (848,905) (60,283) (43,300) (8,527) Participants contributions — 3,348 — 2,943 Benefits paid and expenses (97,204) (12,862) (93,384) (11,635) Benefit obligation, December 31 1,856,765 157,436 2,644,639 218,151 Fair value of plan assets, January 1 2,320,745 239,311 2,089,491 219,873 Actual return on plan assets (461,669) (39,469) 271,443 28,130 Employer contributions 42,542 — 51,777 — Participants contributions — 3,348 — 2,943 Benefits paid and expenses (95,239) (12,643) (91,966) (11,635) Fair value of plan assets, December 31 1,806,379 190,547 2,320,745 239,311 Accrued benefit asset (liability), December 31 $ (50,386) $ 33,111 $ (323,894) $ 21,160 Other assets $ 21,012 $ 33,526 $ 23,675 $ 21,663 Defined benefit pension and other postretirement benefit plans liability (71,398) (415) (347,569) (503) Accrued benefit asset (liability), December 31 $ (50,386) $ 33,111 $ (323,894) $ 21,160 AOCI debit/(credit), January 1 (excluding impact of PUC D&Os) $ 347,799 $ (19,975) $ 557,564 $ 2,395 Recognized during year – prior service credit — 928 — 1,533 Recognized during year – net actuarial gain (loss) (27,412) 12 (27,245) (203) Occurring during year – net actuarial gain (245,969) (7,203) (182,520) (23,700) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 74,418 (26,238) 347,799 (19,975) Cumulative impact of PUC D&Os (55,201) 19,486 (324,162) 19,166 AOCI debit/(credit), December 31 $ 19,217 $ (6,752) $ 23,637 $ (809) Net actuarial loss (gain) $ 74,418 $ (25,363) $ 347,799 $ (18,172) Prior service gain — (875) — (1,803) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 74,418 (26,238) 347,799 (19,975) Cumulative impact of PUC D&Os (55,201) 19,486 (324,162) 19,166 AOCI debit/(credit), December 31 19,217 (6,752) 23,637 (809) Income taxes (benefits) (5,088) 1,740 (6,199) 209 AOCI debit/(credit), net of taxes (benefits), December 31 $ 14,129 $ (5,012) $ 17,438 $ (600) As shown in the table above, as of December 31, 2022, the other postretirement benefit plan with APBO in excess of plan assets is an unfunded plan, and as of December 31, 2021, the other postretirement benefit plans with APBOs in excess of plan assets are unfunded plans. 2022 2021 (in thousands) Pension Other Pension Other Hawaiian Electric consolidated Benefit obligation, January 1 $ 2,464,944 $ 209,470 $ 2,440,758 $ 217,074 Service cost 75,845 2,554 79,463 2,802 Interest cost 74,363 6,227 70,235 5,875 Actuarial gains (804,498) (58,253) (39,755) (7,779) Participants contributions — 3,286 — 2,886 Benefits paid and expenses (88,450) (12,750) (85,425) (11,388) Transfers (6,079) — (332) — Benefit obligation, December 31 1,716,125 150,534 2,464,944 209,470 Fair value of plan assets, January 1 2,142,617 235,525 1,909,730 216,315 Actual return on plan assets (426,825) (38,764) 266,922 27,712 Employer contributions 41,894 — 51,079 — Participants contributions — 3,286 — 2,886 Benefits paid and expenses (87,952) (12,541) (84,852) (11,388) Other (3,854) (12) (262) — Fair value of plan assets, December 31 1,665,880 187,494 2,142,617 235,525 Accrued benefit asset (liability), December 31 $ (50,245) $ 36,960 $ (322,327) $ 26,055 Other assets $ — $ 36,960 $ — $ 26,055 Other liabilities (short-term) (497) — (547) — Defined benefit pension and other postretirement benefit plans liability (49,748) — (321,780) — Accrued benefit asset (liability), December 31 $ (50,245) $ 36,960 $ (322,327) $ 26,055 AOCI debit/(credit), January 1 (excluding impact of PUC D&Os) $ 329,645 $ (20,231) $ 538,521 $ 1,181 Recognized during year – prior service credit — 925 — 1,530 Recognized during year – net actuarial loss (26,358) — (27,534) (206) Occurring during year – net actuarial gain (246,023) (6,096) (181,342) (22,736) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 57,264 (25,402) 329,645 (20,231) Cumulative impact of PUC D&Os (55,201) 19,486 (324,162) 19,166 AOCI debit/(credit), December 31 $ 2,063 $ (5,916) $ 5,483 $ (1,065) Net actuarial loss (gain) $ 57,264 $ (24,530) $ 329,645 $ (18,434) Prior service gain — (872) — (1,797) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 57,264 (25,402) 329,645 (20,231) Cumulative impact of PUC D&Os (55,201) 19,486 (324,162) 19,166 AOCI debit/(credit), December 31 2,063 (5,916) 5,483 (1,065) Income taxes (benefits) (531) 1,523 (1,412) 274 AOCI debit/(credit), net of taxes (benefits), December 31 $ 1,532 $ (4,393) $ 4,071 $ (791)
Schedule of asset allocation of plan assets	The asset allocation of defined benefit retirement plans to equity and fixed income securities (excluding cash) and related investment policy targets and ranges were as follows: Pension benefits 1 Other benefits 2 Investment policy Investment policy December 31 2022 2021 Target Range 3 2022 2021 Target Range 3 Assets held by category U.S. equity securities 58 % 59 % 50 % 40-65% 57 % 58 % 50 % 40-65% Non-U.S equity securities 13 13 15 5-25% 15 15 15 5-25% Fixed income securities 27 27 30 20-60% 28 27 30 20-60% Private equity 2 1 5 0-10% — — 5 0-10% 100 % 100 % 100 % 100 % 100 % 100 % 1 Asset allocation (excluding cash) is applicable to only HEI and the Utilities. As of December 31, 2022 and 2021, nearly all of ASB’s pension assets were invested in fixed income securities. 2 Asset allocation (excluding cash) is applicable to only HEI and the Utilities. ASB does not fund its other benefits. 3 Broad range for equity securities is a minimum of 60% and a maximum of 80% for pension benefits and other benefits. Assets held in various trusts for the retirement benefit plans are measured at fair value on a recurring basis and were as follows: Pension benefits Other benefits Fair value measurements using Fair value measurements using (in millions) December 31 Quoted prices in active markets for identical assets Significant other observable inputs December 31 Quoted prices in active markets for identical assets Significant other observable inputs 2022 U.S. equity securities $ 387 $ 387 $ — $ 48 $ 48 $ — Non-U.S. equity securities 147 147 — 18 18 — U.S. equity index and exchange-traded funds 580 580 — 58 58 — Non-U.S. equity investments at net asset value (NAV) 75 — — 10 — — Total equity investments 1,189 1,114 — 134 124 — Fixed income securities 83 10 73 — — — Fixed income mutual and exchange-traded funds 225 225 — 50 50 — Fixed income investments at NAV 226 — — 3 — — Total fixed income investments 534 235 73 53 50 — Private equity at NAV 34 — — — — — Cash equivalents, fund and at NAV 48 15 — 4 3 — Total 1,805 $ 1,364 $ 73 191 $ 177 $ — Cash, receivables and payables, net 1 — Fair value of plan assets $ 1,806 $ 191 2021 U.S. equity securities $ 432 $ 431 $ 1 $ 53 $ 53 $ — Non-U.S. equity securities 188 188 — 24 24 — U.S. equity index and exchange-traded funds 830 830 — 84 84 — Non-U.S. equity investments at NAV 96 — — 12 — — Total equity investments 1,546 1,449 1 173 161 — Fixed income securities and mutual funds 393 146 247 58 56 2 Fixed income investments at NAV 307 — — 5 — — Total fixed income investments 700 146 247 63 56 2 Private equity at NAV 22 — — — — — Cash equivalents, fund and at NAV 50 15 — 3 3 — Total 2,318 $ 1,610 $ 248 239 $ 220 $ 2 Cash, receivables and payables, net 3 — Fair value of plan assets $ 2,321 $ 239 The following table represents assets measured at NAV. Pension benefits Other benefits Measured at NAV December 31 Redemption frequency Redemption notice period December 31 Redemption frequency Redemption notice period (in millions) 2022 Non-U.S. equity funds (a) $ 75 Daily-Monthly 5-30 days $ 10 Daily-Monthly 5-30 days Fixed income investments (b) 226 Daily 15 days 3 Daily 15 days Private equity (c) 34 NA NA — NA NA Cash equivalents (d) 33 Daily 0-1 day 1 Daily 0-1 day $ 368 $ 14 2021 Non-U.S. equity funds (a) $ 96 Daily-Monthly 5-30 days $ 12 Daily-Monthly 5-30 days Fixed income investments (b) 307 Daily 15 days 5 Daily 15 days Private equity (c) 22 NA NA — NA NA Cash equivalents (d) 35 Daily 0-1 day — Daily 0-1 day $ 460 $ 17 NA Not applicable None of the investments presented in the tables above have unfunded commitments, other than private equity disclosed in (c) below. (a) Represents investments in funds that primarily invest in non-U.S., emerging markets equities. Redemption frequency for pension benefits assets as of December 31, 2022 were: daily, 59% and monthly, 41%, and as of December 31, 2021 were daily, 61% and monthly, 39%. Redemption frequency for other benefits assets as of December 31, 2022 were: daily, 56% and monthly, 44% and as of December 31, 2021 were: daily, 57% and monthly, 43%. (b) Represents investments in fixed income securities invested in a US-dollar denominated fund that seeks to exceed the Bloomberg US Long Corporate A or Better Bond Index through investments in US-dollar denominated fixed income securities and commingled vehicles. (c) Represents investment in a private equity fund. The fund is valued as reported by the General Partner, based on the valuation of the underlying investments. As of December 31, 2022 and 2021, the unfunded commitment of the private equity fund was $56 million and $66 million, respectively; the fund does not allow redemptions but may be dissolved with six months written notice. The termination date of the fund is November 1, 2100, unless dissolved earlier. (d) Represents investments in cash equivalent funds. This class includes funds that invest primarily in securities issued or guaranteed by the U.S. government or its agencies or instrumentalities. For pension benefits, the fund may also invest in fixed income securities of investment grade issuers.
Schedule of weighted-average assumptions used in accounting for plans	The following weighted-average assumptions were used in the accounting for the plans: Pension benefits Other benefits December 31 2022 2021 2020 2022 2021 2020 Benefit obligation Discount rate 1 5.67 % 3.05 % 2.92 % 5.66 % 3.07 % 2.83 % Rate of compensation increase 3.5 3.5 3.5 NA NA NA Net periodic pension/benefit cost (years ended) Discount rate 2 3.05 2.92 3.61 3.07 2.83 3.52 Expected return on plan assets 3 7.25 7.25 7.25 7.25 7.25 7.25 Rate of compensation increase 4 3.5 3.5 3.5 NA NA NA NA Not applicable 1 HEI and the Utilities pension benefits discount rate only at December 31, 2022, 2021 and 2020. ASB’s pension benefits discount rate at December 31, 2022, 2021 and 2020 was 5.63%, 3.04% and 2.76%, respectively. All other disclosed rates apply to the Company and the Utilities. 2 ASB’s pension benefits discount rate for the year ended December 31, 2022, 2021 and 2020 was 3.04%, 2.76% and 3.49%. All other disclosed rates apply to the Company and the Utilities. 3 HEI and the Utilities’ plan assets only (gross return). For 2022, 2021 and 2020, ASB’s expected return on plan assets was 3.24%, 2.96% and 3.69%, respectively. 4 HEI and the Utilities use a graded rate of compensation increase assumption based on age. The rate provided above is an average across all future years of service for the current population. NA for ASB.
Schedule of components of net periodic benefit cost for consolidated HEI	The components of NPPC and NPBC were as follows: Pension benefits Other benefits (in thousands) 2022 2021 2020 2022 2021 2020 HEI consolidated Service cost $ 78,173 $ 81,432 $ 73,387 $ 2,580 $ 2,827 $ 2,537 Interest cost 80,062 75,361 81,335 6,502 6,122 7,407 Expected return on plan assets (141,266) (132,223) (113,800) (13,621) (12,957) (12,124) Amortization of net prior service (gain) cost — — 8 (928) (1,533) (1,761) Amortization of net actuarial losses 27,412 27,245 33,456 (12) 203 208 Net periodic pension/benefit cost 44,381 51,815 74,386 (5,479) (5,338) (3,733) Impact of PUC D&Os 37,148 27,963 20,997 4,966 4,839 3,179 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 81,529 $ 79,778 $ 95,383 $ (513) $ (499) $ (554) Hawaiian Electric consolidated Service cost $ 75,845 $ 79,463 $ 71,604 $ 2,554 $ 2,802 $ 2,515 Interest cost 74,363 70,235 75,484 6,227 5,875 7,103 Expected return on plan assets (133,873) (125,404) (107,369) (13,381) (12,755) (11,957) Amortization of net prior service (gain) cost — — 9 (925) (1,530) (1,758) Amortization of net actuarial losses 26,358 27,534 30,566 — 206 207 Net periodic pension/benefit cost 42,693 51,828 70,294 (5,525) (5,402) (3,890) Impact of PUC D&Os 37,148 27,963 20,997 4,966 4,839 3,179 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 79,841 $ 79,791 $ 91,291 $ (559) $ (563) $ (711)
Schedule of projected benefit obligations and assets	Additional information on the defined benefit pension plans’ accumulated benefit obligations (ABOs), which do not consider projected pay increases (unlike the PBOs shown in the table above), and pension plans with ABOs and PBOs in excess of plan assets were as follows: HEI consolidated Hawaiian Electric consolidated December 31 2022 2021 2022 2021 (in billions) Defined benefit plans - ABOs $ 1.7 $ 2.3 $ 1.5 $ 2.1 Defined benefit plans with PBOs in excess of plan assets PBOs 1.8 2.5 1.7 2.5 Fair value of plan assets 1.7 2.2 1.7 2.1

Share-based compensation (Table

Share-based compensation (Tables)	12 Months Ended
	Dec. 31, 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: (in millions) 2022 2021 2020 HEI consolidated Share-based compensation expense 1 $ 10.4 $ 9.1 $ 5.8 Income tax benefit 2.1 1.4 1.0 Hawaiian Electric consolidated Share-based compensation expense 1 3.0 2.7 1.8 Income tax benefit 0.7 0.6 0.4 1 For 2022, 2021 and 2020, 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: (dollars in millions) 2022 2021 2020 Shares granted 35,720 29,816 36,100 Fair value $ 1.5 $ 1.3 $ 1.3 Income tax benefit 0.4 0.3 0.3
Schedule of restricted stock units	Information about HEI’s grants of restricted stock units was as follows: 2022 2021 2020 Shares (1) Shares (1) Shares (1) Outstanding, January 1 233,448 $ 38.10 193,939 $ 40.89 207,641 $ 35.36 Granted 98,463 41.31 137,582 34.66 78,595 47.99 Vested (96,282) 37.75 (79,623) 38.51 (77,719) 34.19 Forfeited (53,101) 39.01 (18,450) 39.92 (14,578) 36.20 Outstanding, December 31 182,528 $ 39.75 233,448 $ 38.10 193,939 $ 40.89 Total weighted-average grant-date fair value of shares granted (in millions) $ 4.1 $ 4.8 $ 3.8 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.
Schedule of long-term incentive plan (LTIP) linked to total return to shareholders	Information about HEI’s LTIP grants linked to TSR was as follows: 2022 2021 2020 Shares (1) Shares (1) Shares (1) Outstanding, January 1 90,974 $ 42.86 89,222 $ 42.10 96,402 $ 39.62 Granted 26,469 54.92 46,024 41.12 24,630 48.62 Vested (issued or unissued and cancelled) (29,042) 41.07 (32,355) 38.20 (29,409) 39.51 Forfeited (16,827) 44.45 (11,917) 43.07 (2,401) 41.22 Outstanding, December 31 71,574 $ 47.67 90,974 $ 42.86 89,222 $ 42.10 Total weighted-average grant-date fair value of shares granted (in millions) $ 1.5 $ 1.9 $ 1.2 (1) Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of assumptions used to determine the fair value of Long-Term Incentive Plan (LTIP) linked to total return to shareholders (TRS)	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 2020 Risk-free interest rate 1.71 % 0.19 % 1.39 % Expected life in years 3 3 3 Expected volatility 31.0 % 29.9 % 13.1 % Range of expected volatility for Peer Group 25.4% to 76.7% 25.6% to 102.9% 13.6% to 95.4% Grant date fair value (per share) $ 54.92 $ 41.12 $ 48.62
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: 2022 2021 2020 Shares (1) Shares (1) Shares (1) Outstanding, January 1 306,342 $ 38.42 220,715 $ 41.03 403,768 $ 35.15 Granted 105,860 41.31 184,102 34.37 98,522 48.10 Vested (71,807) 37.68 (43,155) 34.12 (135,804) 33.48 Increase above target (cancelled) 36,505 35.75 (7,646) 39.06 (136,163) 36.44 Forfeited (67,311) 37.35 (47,674) 38.74 (9,608) 38.36 Outstanding, December 31 309,589 $ 39.50 306,342 $ 38.42 220,715 $ 41.03 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 4.4 $ 6.3 $ 4.7 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Components of income taxes attributable to net income for common stock	The components of income taxes attributable to net income for common stock were as follows: HEI consolidated Hawaiian Electric consolidated Years ended December 31 2022 2021 2020 2022 2021 2020 (in thousands) Federal Current $ 77,595 $ 51,455 $ 23,207 $ 75,118 $ 42,794 $ 31,950 Deferred (37,410) (11,689) (4,215) (39,646) (12,109) (5,408) Deferred tax credits, net* 4,031 4,611 10,979 137 302 1,549 44,216 44,377 29,971 35,609 30,987 28,091 State Current 11,981 12,119 8,430 15,780 4,861 3,768 Deferred 4,914 6,290 2,509 (1,769) 8,279 8,559 Deferred tax credits, net* 56 21 — 56 21 — 16,951 18,430 10,939 14,067 13,161 12,327 Total $ 61,167 $ 62,807 $ 40,910 $ 49,676 $ 44,148 $ 40,418 * In 2022, 2021 and 2020, primarily represents federal tax credits related to Mauo’s solar-plus-storage project, deferred and amortized starting in 2022, 2021 and 2020, respectively.
Schedule of reconciliation of amount of income taxes computed at federal statutory rate	A reconciliation of the amount of income taxes computed at the federal statutory rate to the amount provided in the consolidated statements of income was as follows: HEI consolidated Hawaiian Electric consolidated Years ended December 31 2022 2021 2020 2022 2021 2020 (in thousands) Amount at the federal statutory income tax rate $ 63,881 $ 65,281 $ 50,531 $ 50,526 $ 46,995 $ 44,468 Increase (decrease) resulting from: State income taxes, net of federal income tax benefit 14,438 15,735 9,448 11,026 10,323 9,658 Net deferred tax asset (liability) adjustment related to the Tax Act (9,886) (9,886) (11,267) (9,886) (9,886) (11,267) Other, net (7,266) (8,323) (7,802) (1,990) (3,284) (2,441) Total $ 61,167 $ 62,807 $ 40,910 $ 49,676 $ 44,148 $ 40,418 Effective income tax rate (%) 20.1 20.2 17.0 20.6 19.7 19.1
Schedule of deferred tax assets and liabilities	The tax effects of book and tax basis differences that give rise to deferred tax assets and liabilities were as follows: HEI consolidated Hawaiian Electric consolidated December 31 2022 2021 2022 2021 (in thousands) Deferred tax assets Regulatory liabilities, excluding amounts attributable to property, plant and equipment $ 82,488 $ 87,817 $ 82,488 $ 87,817 Operating lease liabilities 45,016 35,449 37,472 29,661 Retirement benefits 7,692 — 6,852 — Revenue taxes 51,392 35,040 51,392 35,040 Allowance for bad debts 22,734 26,217 2,195 7,156 Available-for-sale investments 120,405 11,728 — — Other 1 39,399 46,790 20,287 20,529 Total deferred tax assets 369,126 243,041 200,686 180,203 Deferred tax liabilities Property, plant and equipment related 511,832 500,659 497,929 490,713 Operating lease right-of-use assets 44,461 35,271 37,472 29,661 Regulatory assets, excluding amounts attributable to property, plant and equipment 22,183 23,700 22,183 23,700 Retirement benefits — 6,863 — 8,261 Other 53,112 61,308 27,532 36,502 Total deferred tax liabilities 631,588 627,801 585,116 588,837 Net deferred income tax liability $ 262,462 $ 384,760 $ 384,430 $ 408,634 1 As of December 31, 2022, HEI consolidated has deferred tax assets of $4.3 million relating to the benefit of state tax credit carryforwards of $5.6 million. These state tax credit carryforwards primarily relate to the West Loch PV project and do not expire. The Company concluded that as of December 31, 2022, a valuation allowance is not required.
Schedule of changes in total unrecognized tax benefits	The following is a reconciliation of the Company’s liability for unrecognized tax benefits for 2022, 2021 and 2020. HEI consolidated Hawaiian Electric consolidated (in millions) 2022 2021 2020 2022 2021 2020 Unrecognized tax benefits, January 1 $ 17.1 $ 12.7 $ 2.2 $ 11.6 $ 12.7 $ 1.7 Additions based on tax positions taken during the year 19.0 2.8 0.2 0.1 0.3 0.2 Reductions based on tax positions taken during the year (3.5) (0.5) — — — — Additions for tax positions of prior years 0.6 7.6 11.6 0.2 0.2 11.6 Reductions for tax positions of prior years (2.6) (5.5) (0.1) (0.2) (1.6) (0.1) Lapses of statute of limitations — — (0.2) — — (0.2) Settlement — — (1.0) — — (0.5) Unrecognized tax benefits, December 31 $ 30.6 $ 17.1 $ 12.7 $ 11.7 $ 11.6 $ 12.7

Cash flows (Tables)

Cash flows (Tables)	12 Months Ended
	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental disclosures of cash and noncash activity	Years ended December 31 2022 2021 2020 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 106 $ 98 $ 98 Income taxes paid (net of refundable credits) 41 41 32 Income taxes refunded (including refundable credits) 2 7 3 Hawaiian Electric consolidated Interest paid to non-affiliates, net of amounts capitalized 69 71 65 Income taxes paid (net of refundable credits) 67 45 41 Income taxes refunded (including refundable credits) — 5 3 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment-Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 68 48 44 Loans transferred from held for investment to held for sale (investing) — 61 — Real estate transferred from property, plant and equipment to other assets held-for-sale (investing) — 3 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 51 44 26 Property, plant, equipment and other assets received in exchange for the assumption of debt associated with a business acquisition (investing) 68 — — Debt, lease liabilities and other liabilities assumed in business acquisition (financing) 68 — — Common stock issued (gross) for director and executive/management compensation (financing) 1 10 7 16 Obligations to fund low income housing investments, net (investing) 9 36 25 Transfer of securities from available for sale to held to maturities (investing) 755 — — Hawaiian Electric consolidated Electric utility property, plant and equipment-Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 64 43 41 Right-of-use assets obtained in exchange for operating lease obligations (investing) 44 44 17 HEI Consolidated and Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 14 8 10 Increase related to an acquisition (investing) 15 — — Right-of-use assets obtained in exchange for finance lease obligations (financing) 48 — — Reduction of long-term debt from funds previously transferred for repayment (financing) — — 82 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)	12 Months Ended
	Dec. 31, 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 Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs Total December 31, 2022 Financial assets HEI consolidated Available-for-sale investment securities $ 1,429,667 $ — $ 1,414,765 $ 14,902 $ 1,429,667 Held-to-maturity investment securities 1,251,747 — 1,150,971 — 1,150,971 Loans, net 5,907,514 — 821 5,453,381 5,454,202 Mortgage servicing rights 9,047 — — 17,646 17,646 Derivative assets 16,220 18 1,330 — 1,348 Financial liabilities HEI consolidated Deposit liabilities 611,718 — 597,617 — 597,617 Short-term borrowings—other than bank 172,568 — 172,568 — 172,568 Other bank borrowings 695,120 — 695,095 — 695,095 Long-term debt, net—other than bank 2,384,980 — 2,122,605 — 2,122,605 Derivative liabilities 22,949 — 472 — 472 Hawaiian Electric consolidated Short-term borrowings 87,967 — 87,967 — 87,967 Long-term debt, net 1,684,816 — 1,487,496 — 1,487,496 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 and liabilities measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis were as follows: December 31 2022 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 $ — $ 1,292,968 $ — $ — $ 2,437,923 $ — U.S. Treasury and federal agency obligations — 81,063 — — 90,090 — Corporate bonds — 40,734 — — 31,178 — Mortgage revenue bonds — — 14,902 — — 15,427 $ — $ 1,414,765 $ 14,902 $ — $ 2,559,191 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 9 $ — $ — $ 638 $ — Forward commitments (bank segment) 1 18 — — — — — Interest rate swap (Other segment) 2 — 1,321 — — 271 — $ 18 $ 1,330 $ — $ — $ 909 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ — $ — Forward commitments (bank segment) 1 — — — 11 — — Interest rate swap (Other segment) 2 — 472 — — 5,271 — $ — $ 472 $ — $ 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 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: (in thousands) 2022 2021 Mortgage revenue bonds Balance, January 1 $ 15,427 $ 27,185 Principal payments received (525) (11,758) Purchases — Unrealized gain (loss) included in other comprehensive income — — Balance, December 31 $ 14,902 $ 15,427

Summary of significant accoun_4

Summary of significant accounting policies - General, Cash, and PPE (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) branch	Dec. 31, 2021 USD ($)	Dec. 31, 2020
Significant Accounting Policies [Line Items]
Number of branches	38
Restricted cash | $	$ 5,100	$ 5,900
Oahu
Significant Accounting Policies [Line Items]
Number of branches	27
Maui
Significant Accounting Policies [Line Items]
Number of branches	5
Hawaii
Significant Accounting Policies [Line Items]
Number of branches	3
Kauai
Significant Accounting Policies [Line Items]
Number of branches	2
Molokai
Significant Accounting Policies [Line Items]
Number of branches	1
Hawaiian Electric Company, Inc. and Subsidiaries
Significant Accounting Policies [Line Items]
Composite annual depreciation rate	3.20%	3.20%	3.20%
Minimum
Significant Accounting Policies [Line Items]
Estimated useful life under production plant (in years)	16 years
Estimated useful life under transmission and distribution plant (in years)	10 years
Estimated useful life under general plant (in years)	5 years
Maximum
Significant Accounting Policies [Line Items]
Estimated useful life under production plant (in years)	51 years
Estimated useful life under transmission and distribution plant (in years)	79 years
Estimated useful life under general plant (in years)	50 years
Hawaiian Electric Company, Inc. and Subsidiaries
Significant Accounting Policies [Line Items]
Restricted cash | $	$ 0	$ 3,089

Summary of significant accoun_5

Summary of significant accounting policies - Earnings Per Share (HEI only) (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Antidilutive securities outstanding (in shares)	0	0	0

Summary of significant accoun_6

Summary of significant accounting policies - Accounts Receivable and Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Goodwill and other intangibles
Goodwill	$ 82,190,000	$ 82,190,000
Valuation, Income Approach | Measurement Input, Terminal Value
Goodwill and other intangibles
Goodwill impairment, measurement input	0.75
Valuation, Publicly Traded Company Method
Goodwill and other intangibles
Goodwill impairment, measurement input	0.20
Valuation, Sale Transaction Method
Goodwill and other intangibles
Goodwill impairment, measurement input	0.05
American Savings Bank (ASB)
Loans modified in a troubled debt restructuring
Number of consecutive months of repayment required for loans to be removed from nonaccrual status	6 months
Goodwill and other intangibles
Goodwill	$ 82,190,000	82,190,000
Goodwill impairment	0	0	$ 0
Low-income housing investments	107,000,000	111,000,000
Commitments to fund affordable housing investments	$ 70,100,000	62,800,000
American Savings Bank (ASB) | Measurement Band A
Goodwill and other intangibles
Risks inherent in servicing assets and servicing liabilities band percent for risk categorization	0.50%
American Savings Bank (ASB) | Measurement Band B
Goodwill and other intangibles
Risks inherent in servicing assets and servicing liabilities band percent for risk categorization	1%
American Savings Bank (ASB) | Loans receivable
Nonperforming loans
Period for classification as delinquent	90 days
American Savings Bank (ASB) | Mortgage receivable
Nonperforming loans
Period for classification as delinquent	180 days
American Savings Bank (ASB) | Consumer
Nonperforming loans
Period for write-off	120 days
Hawaiian Electric Company, Inc. and Subsidiaries
Accounts Receivable
Allowance for customer accounts receivable, accrued unbilled revenues and other accounts receivable	$ 6,100,000	$ 26,100,000
Electric utility revenues
Weighted average AFUDC rate	7.10%	7.10%	7.10%

Summary of significant accoun_7

Summary of significant accounting policies - Summary of Income Tax Expense Related to Investment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amounts in income taxes related to low-income housing tax credit investments
Net benefit to income tax expense	$ (61,167)	$ (62,807)	$ (40,910)
American Savings Bank (ASB)
Amounts in income taxes related to low-income housing tax credit investments
Net benefit to income tax expense	(22,252)	(29,325)	(11,688)
American Savings Bank (ASB) | Variable Interest Entity, Not Primary Beneficiary
Amounts in income taxes related to low-income housing tax credit investments
Amortization recognized in the provision for income taxes	(12,000)	(10,300)	(9,600)
Tax credits and other tax benefits recognized in the provision for income taxes	16,300	13,900	13,700
Net benefit to income tax expense	$ 4,300	$ 3,600	$ 4,100

Segment financial information_2

Segment financial information (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2020 a MW	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2018 MWh MW	Dec. 31, 2017 MW	Jul. 31, 2022 MW	Jul. 01, 2022 MW
Segment financial information
Revenues		$ 3,741,985	$ 2,850,379	$ 2,579,775
Depreciation and amortization		294,841	278,702	290,778
Interest expense, net		116,703	99,403	99,808
Income before income taxes		304,195	310,863	240,624
Income taxes (benefit)		61,167	62,807	40,910
Net income		243,028	248,056	199,714
Preferred stock dividends of subsidiaries		1,890	1,890	1,890
Net income for common stock		241,138	246,166	197,824
Capital expenditures		344,037	314,524	383,895
Assets		16,284,244	15,822,637	15,004,007
Electric utility
Segment financial information
Revenues		3,408,587	2,539,636	2,265,320
Depreciation and amortization		260,744	251,206	256,479
Interest expense, net		76,416	72,447	67,794
Income before income taxes		240,600	223,785	211,753
Income taxes (benefit)		49,676	44,148	40,418
Net income		190,924	179,637	171,335
Preferred stock dividends of subsidiaries		1,995	1,995	1,995
Net income for common stock		188,929	177,642	169,340
Capital expenditures		329,457	292,000	350,864
Assets		6,597,467	6,491,625	6,457,373
Bank
Segment financial information
Revenues		321,068	306,398	313,511
Depreciation and amortization		24,436	21,124	29,349
Interest expense, net		13,301	5,040	11,114
Income before income taxes		102,241	130,559	69,271
Income taxes (benefit)		22,252	29,325	11,688
Net income		79,989	101,234	57,583
Preferred stock dividends of subsidiaries		0	0	0
Net income for common stock		79,989	101,234	57,583
Capital expenditures		4,704	11,131	12,203
Assets		9,545,970	9,181,603	8,396,533
Other
Segment financial information
Revenues		12,330	4,345	944
Depreciation and amortization		9,661	6,372	4,950
Interest expense, net		26,986	21,916	20,900
Income before income taxes		(38,646)	(43,481)	(40,400)
Income taxes (benefit)		(10,761)	(10,666)	(11,196)
Net income		(27,885)	(32,815)	(29,204)
Preferred stock dividends of subsidiaries		(105)	(105)	(105)
Net income for common stock		(27,780)	(32,710)	(29,099)
Capital expenditures		9,876	11,393	20,828
Assets		140,807	149,409	150,101
Operating Segments
Segment financial information
Revenues		3,741,985	2,850,379	2,579,775
Operating Segments | Electric utility
Segment financial information
Revenues		3,408,583	2,539,589	2,265,281
Operating Segments | Bank
Segment financial information
Revenues		321,068	306,398	313,511
Operating Segments | Other
Segment financial information
Revenues		12,334	4,392	983
Intersegment eliminations
Segment financial information
Revenues		0	0	0
Intersegment eliminations | Electric utility
Segment financial information
Revenues		4	47	39
Intersegment eliminations | Bank
Segment financial information
Revenues		0	0	0
Intersegment eliminations | Other
Segment financial information
Revenues		$ (4)	$ (47)	$ (39)
Hamakua Energy
Segment financial information
Power produced by power plants (in megawatts) | MW						60
Mauo, LLC
Segment financial information
Power produced by power plants (in megawatts) | MW					8.1
Power storage capacity (in megawatt hours) | MWh					42.6
Power purchase agreement term					15 years
Power purchase agreement extension term					5 years
Ka‘ie‘ie Waho Company, LLC
Segment financial information
Photovoltaic system power amount (in megawatts) | MW	6
Area of land (in acres) | a	20
Mahipapa, LLC | Green Energy Team, LLC
Segment financial information
Unit of renewable energy (in mega watts) | MW							7.5	7.5

Electric utility segment - Regu

Electric utility segment - Regulatory Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Regulatory assets
Regulatory assets	$ 242,513	$ 565,543
Regulatory liabilities
Regulatory liabilities	1,055,650	996,768
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	242,513	565,543
Regulatory liabilities
Regulatory liabilities	1,055,650	996,768
Cost of removal in excess of salvage value | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Regulatory liabilities	577,985	562,514
Income taxes | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Regulatory liabilities	316,947	337,304
Decoupling revenue balancing account and RAM | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Regulatory liabilities	10,426	251
Retirement benefit plans | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Regulatory liabilities	81,950	51,734
Solar tax credits | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Regulatory liabilities	50,240	27,123
Other | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Regulatory liabilities	$ 18,102	17,842
Minimum | Cost of removal in excess of salvage value | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Authorized amortization or recovery periods	1 year
Minimum | Income taxes | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Authorized amortization or recovery periods	3 years
Minimum | Decoupling revenue balancing account and RAM | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Authorized amortization or recovery periods	1 year
Minimum | Solar tax credits | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Authorized amortization or recovery periods	1 year
Minimum | Other | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Remaining amortization or recovery periods	1 year
Maximum | Cost of removal in excess of salvage value | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Authorized amortization or recovery periods	79 years
Maximum | Income taxes | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Authorized amortization or recovery periods	37 years
Maximum | Decoupling revenue balancing account and RAM | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Authorized amortization or recovery periods	2 years
Maximum | Solar tax credits | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Authorized amortization or recovery periods	19 years
Maximum | Other | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Remaining amortization or recovery periods	3 years
Current assets | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	$ 52,273	66,664
Long-term assets | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	190,240	498,879
Current liabilities | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Regulatory liabilities	31,475	29,760
Long-term liabilities | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory liabilities
Regulatory liabilities	1,024,175	967,008
Retirement benefit plans (balance primarily varies with plans’ funded statuses) | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	69,919	351,070
Income taxes | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	$ 82,583	88,087
Income taxes | Minimum | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Authorized amortization or recovery periods	3 years
Income taxes | Maximum | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Authorized amortization or recovery periods	37 years
Decoupling revenue balancing account and RAM | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	$ 14,290	31,607
Decoupling revenue balancing account and RAM | Minimum | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Authorized amortization or recovery periods	1 year
Decoupling revenue balancing account and RAM | Maximum | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Authorized amortization or recovery periods	2 years
Unamortized expense and premiums on retired debt and equity issuances | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	$ 5,967	7,300
Unamortized expense and premiums on retired debt and equity issuances | Minimum | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Authorized amortization or recovery periods	1 year
Remaining amortization or recovery periods	1 year
Unamortized expense and premiums on retired debt and equity issuances | Maximum | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Authorized amortization or recovery periods	28 years
Remaining amortization or recovery periods	28 years
Vacation earned, but not yet taken | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	$ 14,109	14,255
Authorized amortization or recovery periods	1 year
COVID-19 related costs (to be determined by PUC) | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	$ 11,403	27,839
ECRC and PPAC | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	$ 20,369	21,386
Authorized amortization or recovery periods	1 year
Other | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	$ 23,873	$ 23,999
Other | Minimum | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Remaining amortization or recovery periods	1 year
Other | Maximum | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Remaining amortization or recovery periods	37 years

Electric utility segment - Majo

Electric utility segment - Major Customers (Details) - Hawaiian Electric Company, Inc. and Subsidiaries - Operating revenues - Customer concentration - Various federal government agencies - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Major customers
Operating revenues percentage	12%	11%	11%
Operating revenues amount	$ 393	$ 267	$ 249

Electric utility segment - Cumu

Electric utility segment - Cumulative Preferred Stock (Details)	Dec. 31, 2022 $ / shares
Series C, D, E, H, J and K Preferred Stock | Hawaiian Electric
Class of Stock [Line Items]
Voluntary liquidation price (in dollars per share)	$ 20
Redemption price (in dollars per share)	21
Series I Preferred Stock | Hawaiian Electric
Class of Stock [Line Items]
Voluntary liquidation price (in dollars per share)	20
Redemption price (in dollars per share)	20
Series G Preferred Stock | Hawaii Electric Light Company, Inc. (HELCO)
Class of Stock [Line Items]
Voluntary liquidation price (in dollars per share)	100
Redemption price (in dollars per share)	100
Series H Preferred Stock | Maui Electric Company, Limited (MECO)
Class of Stock [Line Items]
Voluntary liquidation price (in dollars per share)	100
Redemption price (in dollars per share)	$ 100

Electric utility segment - Rela

Electric utility segment - Related-Party Transactions (Details) - Hawaiian Electric (parent only) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Hawaiian Electric Company, Inc. and Subsidiaries
Related Party Transaction [Line Items]
Amount charged to subsidiaries for general management and administrative services	$ 5,600,000	$ 5,200,000	$ 5,600,000
Short-term borrowings due to related party	0	0
Hawaii Electric Light | Hamakua Energy
Related Party Transaction [Line Items]
Amount charged to subsidiaries for general management and administrative services	$ 66,000,000	$ 53,000,000	$ 50,000,000

Electric utility segment - Unco

Electric utility segment - Unconsolidated Variable Interest Entities (Details)	12 Months Ended
	Dec. 31, 2022 agreement entity
Variable Interest Entity [Line Items]
Number of consolidation VIEs | entity	2
Subsidiaries
Variable Interest Entity [Line Items]
Number of power purchase agreements (PPAs) (in agreements) | agreement	4

Electric utility segment - Powe

Electric utility segment - Power Purchase Agreements (Details) $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Jan. 11, 2023 MWh number_of_projects MW

Jul. 31, 2022 MWh MW

Aug. 23, 2021

Oct. 31, 2021

Jul. 31, 2018 MW

May 31, 2018 MW

Feb. 28, 2018 USD ($) agreement MW

May 31, 2012 MW

Mar. 31, 1988 MW

Dec. 31, 2022 USD ($)

Jun. 30, 2022 MW

Mar. 31, 2021 MW

Dec. 31, 2022 USD ($) agreement MW

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

Dec. 31, 1988 MW

Stage 1 Renewable PPAs

Regulatory Projects and Legal Obligations [Line Items]

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

8

Purchase commitment, period

20 years

Purchase commitment, minimum power volume required to be purchased | MW

274.5

Long-term contract for purchase of electric power, estimated annual cost

$ 64,700

Generates in minimum volume required (in megawatts) | MW

39

Generates in minimum volume required (in megawatts hour) | MWh

156

Stage 1 Renewable PPAs | Subsequent Event

Regulatory Projects and Legal Obligations [Line Items]

Long term purchase commitments, number of projects | number_of_projects

2

Generates in minimum volume required (in megawatts) | MW

75

Generates in minimum volume required (in megawatts hour) | MWh

300

AES Hawaii

Regulatory Projects and Legal Obligations [Line Items]

Purchase commitment, period

30 years

Purchase commitment, minimum power volume required to be purchased | MW

180

Hu Honua Bioenergy

Regulatory Projects and Legal Obligations [Line Items]

Purchase commitment, minimum power volume required to be purchased | 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

Sause Bros., Inc.

Regulatory Projects and Legal Obligations [Line Items]

Purchase commitment, period

5 years

Kalaeloa

Regulatory Projects and Legal Obligations [Line Items]

Extension period

10 years

Long-term purchase commitment, power purchase price increase, percent

68%

Puna Geothermal Venture Power Purchase Agreement

Regulatory Projects and Legal Obligations [Line Items]

Firm capacity volume | MW

25.7

13

Hawaiian Electric

Regulatory Projects and Legal Obligations [Line Items]

Purchased power

$ 794,000

$ 670,000

$ 569,000

Hawaiian Electric | Kalaeloa

Regulatory Projects and Legal Obligations [Line Items]

Purchased power

342,000

204,000

149,000

Purchase capacity amounts | MW

208

Hawaiian Electric | AES Hawaii

Regulatory Projects and Legal Obligations [Line Items]

Purchased power

82,000

130,000

133,000

Hawaiian Electric | HPOWER

Regulatory Projects and Legal Obligations [Line Items]

Purchased power

73,000

70,000

70,000

Hawaiian Electric | Hamakua Energy

Regulatory Projects and Legal Obligations [Line Items]

Purchased power

66,000

53,000

50,000

Hawaiian Electric | Puna Geothermal Venture

Regulatory Projects and Legal Obligations [Line Items]

Purchased power

48,000

29,000

1,000

Hawaiian Electric | Wind IPPs

Regulatory Projects and Legal Obligations [Line Items]

Purchased power

119,000

124,000

105,000

Hawaiian Electric | Solar IPPs

Regulatory Projects and Legal Obligations [Line Items]

Purchased power

57,000

50,000

57,000

Hawaiian Electric | Other IPPs

Regulatory Projects and Legal Obligations [Line Items]

Purchased power

7,000

10,000

4,000

Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

Purchased power

$ 793,584

$ 670,494

$ 568,749

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

4

Power purchase capacity excluding agreements with smaller IPPs (in megawatts) | MW

362.2

Expected fixed capacity charges, year one

$ 74,000

$ 74,000

Expected fixed capacity charges, year two

74,000

74,000

Expected fixed capacity charges, year three

74,000

74,000

Expected fixed capacity charges, year four

74,000

74,000

Expected fixed capacity charges, year five

74,000

74,000

Expected fixed capacity charges, after year five through fifteen years

$ 365,000

$ 365,000

PGV Facility

Regulatory Projects and Legal Obligations [Line Items]

Power purchase capacity excluding agreements with smaller IPPs (in megawatts) | MW

34.6

Electric utility segment - Util

Electric utility segment - Utility Projects (Details)	1 Months Ended	12 Months Ended
	Nov. 30, 2019 USD ($) MW	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Nov. 30, 2021 USD ($)	Oct. 31, 2020 transmission_line generationUnit kV	Jun. 10, 2019 USD ($)	Oct. 31, 2018 USD ($)
Public Utilities, General Disclosures [Line Items]
Operating lease right-of-use-assets		$ 115,684,000	$ 122,416,000
Valuation allowances and reserves, statement of financial position, not disclosed		reserve account balance
Federal
Public Utilities, General Disclosures [Line Items]
Tax credit deferral period		25 years
State and Local Jurisdiction
Public Utilities, General Disclosures [Line Items]
Tax credit deferral period		10 years
Hawaiian Electric Company, Inc. and Subsidiaries
Public Utilities, General Disclosures [Line Items]
Operating lease right-of-use-assets		$ 89,318,000	$ 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 required pass-through savings							$ 246,000,000
ERP/EAM implementation project, expected future O&M expense reductions						$ 150,000,000
ERP/EAM implementation project, future cost avoidance related to capital costs and tax costs						$ 96,000,000
ERP/EAM regulatory liability for operation and maintenance expense reductions		$ 10,500,000
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		60,500,000
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		13,200,000
Hawaiian Electric | PCB Contamination
Public Utilities, General Disclosures [Line Items]
Valuation allowances and reserves		9,900,000
Hawaiian Electric | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
ERP/EAM regulatory liability for operation and maintenance expense reductions		4,000,000
Hawaii Electric Light | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
ERP/EAM regulatory liability for operation and maintenance expense reductions		2,600,000
Maui Electric
Public Utilities, General Disclosures [Line Items]
Additional accrued investigation and estimated cleanup costs		2,600,000
Maui Electric | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
ERP/EAM regulatory liability for operation and maintenance expense reductions		$ 3,900,000
Regulatory liability, amortization period		5 years

Electric utility segment - Asse

Electric utility segment - Asset Retirement Obligations (Details) - Hawaiian Electric Company, Inc. and Subsidiaries - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Regulatory Projects and Legal Obligations [Line Items]
ARO, recognition impact on earnings	$ 0
Changes in the asset retirement obligation liability
Balance at the beginning of the period	11,110,000	$ 10,692,000
Accretion expense	442,000	423,000
Liabilities incurred	0	0
Liabilities settled	(4,000)	(5,000)
Balance at the end of the period	$ 11,548,000	$ 11,110,000

Electric utility segment - Re_2

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

3 Months Ended

12 Months Ended

Dec. 23, 2020 USD ($)

Nov. 30, 2021 agreement

Dec. 31, 2022 USD ($) MWh project contract

Dec. 31, 2019 USD ($) contract

Jun. 30, 2022 USD ($)

Jun. 17, 2022 mechanism staff

Feb. 28, 2022 USD ($)

Dec. 31, 2021 USD ($)

Mar. 23, 2021 mechanism

Feb. 16, 2021 contract

Dec. 31, 2020 entity

Jul. 09, 2020 agreement

Regulatory Projects and Legal Obligations [Line Items]

PUC proposal period

45 days

Public utilities, modified pilot process proposal period

15 days

Pilot process annual cap

$ 10,000

Advanced metering infrastructure utilization PIM, annual maximum reward

$ 2,000

Advanced metering infrastructure utilization PIM, duration

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

2

Number of performance incentive mechanisms, penalty-only | mechanism

1

Multi-year rate period

5 years

Customer dividend, negative adjustment percentage

0.0022%

Savings commitment liability, annual rate

$ 6,600

Actual return on equity, dead band percentage, above or below target

3%

Authorized ROE

9.50%

Actual earnings, above or below dead band

1.50%

Percentage sharing between customers and utilities

0.50

Percentage sharing for any further difference

0.90

MPIR and EPRM requested amount

$ 26,200

EPRM number of projects approved | contract

2

EPRM project costs

$ 41,000

EPRM number of projects | project

6

EPRM total project costs

$ 472,000

2021 deferred cost recovery approved

$ 100

Target performance historical measurement period

10 years

Service reliability, maximum penalty, percent of return on equity

20%

Maximum penalty, pending adjusted amount

$ 6,800

Service reliability, estimated penalties

$ (100)

Dead band percentage above or below target

3%

Call center performance, maximum penalty, percent

8%

Call center performance, maximum penalty, pending adjusted amount

$ 1,400

Number of contracts which qualified for incentives | contract

7

Public utility, incentives accrued

$ 1,700

$ 100

Number of grid service purchase agreements | agreement

2

Number of additional power purchase contracts | contract

1

Number of power purchase contracts approved | agreement

2

Number of GSPAs approved | entity

2

Interpolated statutory RPS goal rate, years 2021 and 2022 | MWh

20

Interpolated statutory RPS goal rate, year 2023 | MWh

15

Interpolated statutory RPS goal rate, remainder of MRP | MWh

10

Penalty rate for failure to meet RPS targets (megawatt per hour) | MWh

20

Grid services procurement PIM, maximum reward

$ 1,500

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

40

Interconnection approval PIM, annual maximum reward

3,000

Interconnection approval PIM, annual maximum penalty

900

Interconnection approval PIM, accrued estimated rewards

3,000

Low-to-moderate income energy efficiency PIM, rewards cap

$ 2,000

Low-to-moderate income energy efficiency PIM, duration

3 years

Performance incentive mechanism, accrued estimated rewards

$ 400

Target performance historical measurement period

10 years

Pending adjusted amount

$ 1,000

Target performance period

10 months

Target deadband period

2 months

Accrued estimated rewards, net of penalties

$ 3,400

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

Regulatory Projects and Legal Obligations [Line Items]

Major project interim recovery requested amount

16,500

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

Regulatory Projects and Legal Obligations [Line Items]

Major project interim recovery requested amount

3,500

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

Regulatory Projects and Legal Obligations [Line Items]

Major project interim recovery requested amount

6,100

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

Regulatory Projects and Legal Obligations [Line Items]

EPRM requested amount

$ 100

Hawaiian Electric

Regulatory Projects and Legal Obligations [Line Items]

Public utilities retained percentage

20%

Accrued estimated rewards, net of penalties

$ 2,400

Hawaii Electric Light

Regulatory Projects and Legal Obligations [Line Items]

Accrued estimated rewards, net of penalties

500

Maui Electric

Regulatory Projects and Legal Obligations [Line Items]

Accrued estimated rewards, net of penalties

$ 500

Electric utility segment - Annu

Electric utility segment - Annual Decoupling Filings (Details) - USD ($) $ in Millions		12 Months Ended
	Oct. 31, 2022	Dec. 31, 2022
Regulatory Projects and Legal Obligations [Line Items]
2023 ARA revenues	$ 40.1
Management Audit savings commitment	(6.6)
Net 2023 ARA revenues	33.5
Incremental ARA revenues		$ 40.1
Annual change in accrued RBA balance through September 30, 2022 (and associated revenue taxes)		(13.5)
Incremental EPRM/MPIR Revenue Adjustment		(0.1)
Incremental EPRM/MPIR Revenue Adjustment		0.3
Net incremental amount to be collected under the RBA rate tariffs		26.8
Hawaiian Electric
Regulatory Projects and Legal Obligations [Line Items]
2023 ARA revenues	27
Management Audit savings commitment	(4.6)
Net 2023 ARA revenues	22.4
Incremental ARA revenues		27
Annual change in accrued RBA balance through September 30, 2022 (and associated revenue taxes)		(3.6)
Incremental EPRM/MPIR Revenue Adjustment		0
Incremental EPRM/MPIR Revenue Adjustment		0.3
Net incremental amount to be collected under the RBA rate tariffs		23.6
Hawaii Electric Light
Regulatory Projects and Legal Obligations [Line Items]
2023 ARA revenues	6.6
Management Audit savings commitment	(1)
Net 2023 ARA revenues	5.6
Incremental ARA revenues		6.6
Annual change in accrued RBA balance through September 30, 2022 (and associated revenue taxes)		(6.7)
Incremental EPRM/MPIR Revenue Adjustment		0
Incremental EPRM/MPIR Revenue Adjustment		0
Net incremental amount to be collected under the RBA rate tariffs		(0.1)
Maui Electric
Regulatory Projects and Legal Obligations [Line Items]
2023 ARA revenues	6.5
Management Audit savings commitment	(1)
Net 2023 ARA revenues	$ 5.5
Incremental ARA revenues		6.5
Annual change in accrued RBA balance through September 30, 2022 (and associated revenue taxes)		(3.2)
Incremental EPRM/MPIR Revenue Adjustment		(0.1)
Incremental EPRM/MPIR Revenue Adjustment		0
Net incremental amount to be collected under the RBA rate tariffs		$ 3.3

Electric utility segment - Re_3

Electric utility segment - Regulatory Assets for COVID-19 Related Costs (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Jun. 09, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Regulatory Projects and Legal Obligations [Line Items]
Bill credits				$ 2,000
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory Projects and Legal Obligations [Line Items]
Recovery of deferral costs	$ 27,800
Recovery of deferral costs period	3 years
Hawaiian Electric Company, Inc. and Subsidiaries | COVID-19
Regulatory Projects and Legal Obligations [Line Items]
Bill credits		$ 2,000
Public utilities in regulatory assets			$ 11,400

Electric utility segment - Army

Electric utility segment - Army Privatization (Details) - Hawaiian Electric Company, Inc. and Subsidiaries $ in Millions	Mar. 01, 2022 USD ($)	Oct. 30, 2020 USD ($) installation
Regulatory Projects and Legal Obligations [Line Items]
Public utilities, electric distribution system, contract period	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

Electric utility segment - Cons

Electric utility segment - Consolidating Statement of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Income Statements, Captions [Line Items]
Revenues	$ 3,741,985	$ 2,850,379	$ 2,579,775
Expenses
Total expenses	3,360,912	2,464,313	2,268,282
Operating income	381,073	386,066	311,493
Allowance for equity funds used during construction	10,574	9,534	8,768
Retirement defined benefits credit (expense)—other than service costs	4,411	5,848	(3,210)
Allowance for borrowed funds used during construction	3,416	3,250	2,992
Income before income taxes	304,195	310,863	240,624
Income taxes	61,167	62,807	40,910
Net income	243,028	248,056	199,714
Preferred stock dividends of Hawaiian Electric	1,890	1,890	1,890
Net income for common stock	241,138	246,166	197,824
Hawaiian Electric (parent only)
Expenses
Total expenses	21,981	24,934	21,870
Retirement defined benefits credit (expense)—other than service costs	(147)	114	(634)
Income before income taxes	229,271	235,584	186,565
Income taxes	(11,867)	(10,582)	(11,259)
Net income for common stock	241,138	246,166	197,824
Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenues	3,408,587	2,539,636	2,265,320
Expenses
Fuel oil	1,265,614	644,349	515,274
Purchased power	793,584	670,494	568,749
Other operation and maintenance	497,601	475,412	474,192
Depreciation	235,424	229,469	222,733
Taxes, other than income taxes	317,173	240,354	215,822
Total expenses	3,109,396	2,260,078	1,996,770
Operating income	299,191	279,558	268,550
Allowance for equity funds used during construction	10,574	9,534	8,768
Equity in earnings of subsidiaries	0	0	0
Retirement defined benefits credit (expense)—other than service costs	3,835	3,890	(763)
Interest expense and other charges, net	(76,416)	(72,447)	(67,794)
Allowance for borrowed funds used during construction	3,416	3,250	2,992
Income before income taxes	240,600	223,785	211,753
Income taxes	49,676	44,148	40,418
Net income (loss)	190,924	179,637	171,335
Preferred stock dividends of subsidiaries	915	915	915
Net income	190,009	178,722	170,420
Preferred stock dividends of Hawaiian Electric	1,080	1,080	1,080
Net income for common stock	188,929	177,642	169,340
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Hawaiian Electric (parent only)
Condensed Income Statements, Captions [Line Items]
Revenues	2,452,969	1,793,372	1,608,305
Expenses
Fuel oil	917,801	442,818	354,087
Purchased power	601,235	508,642	446,672
Other operation and maintenance	326,785	313,009	311,781
Depreciation	158,725	155,607	151,387
Taxes, other than income taxes	228,843	170,604	154,191
Total expenses	2,233,389	1,590,680	1,418,118
Operating income	219,580	202,692	190,187
Allowance for equity funds used during construction	8,464	7,734	7,335
Equity in earnings of subsidiaries	47,493	45,353	47,504
Retirement defined benefits credit (expense)—other than service costs	3,296	3,348	(1,294)
Interest expense and other charges, net	(55,260)	(51,680)	(48,775)
Allowance for borrowed funds used during construction	2,769	2,617	2,540
Income before income taxes	226,342	210,064	197,497
Income taxes	36,333	31,342	27,077
Net income (loss)	190,009	178,722	170,420
Preferred stock dividends of subsidiaries	0	0	0
Net income	190,009	178,722	170,420
Preferred stock dividends of Hawaiian Electric	1,080	1,080	1,080
Net income for common stock	188,929	177,642	169,340
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Hawaii Electric Light
Condensed Income Statements, Captions [Line Items]
Revenues	485,590	381,033	334,221
Expenses
Fuel oil	133,238	80,086	72,202
Purchased power	143,636	108,997	73,120
Other operation and maintenance	85,110	79,390	73,746
Depreciation	41,404	40,201	39,041
Taxes, other than income taxes	44,685	35,499	31,181
Total expenses	448,073	344,173	289,290
Operating income	37,517	36,860	44,931
Allowance for equity funds used during construction	898	586	543
Equity in earnings of subsidiaries	0	0	0
Retirement defined benefits credit (expense)—other than service costs	666	670	672
Interest expense and other charges, net	(10,659)	(10,353)	(10,004)
Allowance for borrowed funds used during construction	277	197	160
Income before income taxes	28,699	27,960	36,302
Income taxes	6,349	6,246	8,275
Net income (loss)	22,350	21,714	28,027
Preferred stock dividends of subsidiaries	534	534	534
Net income	21,816	21,180	27,493
Preferred stock dividends of Hawaiian Electric	0	0	0
Net income for common stock	21,816	21,180	27,493
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Maui Electric
Condensed Income Statements, Captions [Line Items]
Revenues	470,355	365,256	323,430
Expenses
Fuel oil	214,575	121,445	88,985
Purchased power	48,713	52,855	48,957
Other operation and maintenance	85,706	83,013	88,665
Depreciation	35,295	33,661	32,305
Taxes, other than income taxes	43,645	34,251	30,450
Total expenses	427,934	325,225	289,362
Operating income	42,421	40,031	34,068
Allowance for equity funds used during construction	1,212	1,214	890
Equity in earnings of subsidiaries	0	0	0
Retirement defined benefits credit (expense)—other than service costs	(127)	(128)	(141)
Interest expense and other charges, net	(10,824)	(10,439)	(9,651)
Allowance for borrowed funds used during construction	370	436	292
Income before income taxes	33,052	31,114	25,458
Income taxes	6,994	6,560	5,066
Net income (loss)	26,058	24,554	20,392
Preferred stock dividends of subsidiaries	381	381	381
Net income	25,677	24,173	20,011
Preferred stock dividends of Hawaiian Electric	0	0	0
Net income for common stock	25,677	24,173	20,011
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Other subsidiaries
Expenses
Allowance for equity funds used during construction	0	0	0
Net income (loss)	0	0	0
Hawaiian Electric Company, Inc. and Subsidiaries | Consolidating adjustments
Condensed Income Statements, Captions [Line Items]
Revenues	(327)	(25)	(636)
Expenses
Fuel oil	0	0	0
Purchased power	0	0	0
Other operation and maintenance	0	0	0
Depreciation	0	0	0
Taxes, other than income taxes	0	0	0
Total expenses	0	0	0
Operating income	(327)	(25)	(636)
Allowance for equity funds used during construction	0	0	0
Equity in earnings of subsidiaries	(47,493)	(45,353)	(47,504)
Retirement defined benefits credit (expense)—other than service costs	0	0	0
Interest expense and other charges, net	327	25	636
Allowance for borrowed funds used during construction	0	0	0
Income before income taxes	(47,493)	(45,353)	(47,504)
Income taxes	0	0	0
Net income (loss)	(47,493)	(45,353)	(47,504)
Preferred stock dividends of subsidiaries	0	0	0
Net income	(47,493)	(45,353)	(47,504)
Preferred stock dividends of Hawaiian Electric	0	0	0
Net income for common stock	$ (47,493)	$ (45,353)	$ (47,504)

Electric utility segment - Co_2

Electric utility segment - Consolidating Statement of Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 241,138	$ 246,166	$ 197,824
Retirement benefit plans:
Net gains (losses) arising during the period, net of (taxes) benefits	188,020	153,121	(60,529)
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	19,659	19,253	23,689
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of (taxes) benefits	(199,936)	(171,345)	39,860
Other comprehensive income (loss), net of taxes	(283,495)	(51,269)	18,775
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	(42,357)	194,897	216,599
Hawaiian Electric (parent only)
Condensed Statement of Income Captions [Line Items]
Net income for common stock	241,138	246,166	197,824
Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Statement of Income Captions [Line Items]
Net income for common stock	188,929	177,642	169,340
Retirement benefit plans:
Net gains (losses) arising during the period, net of (taxes) benefits	187,193	151,523	(63,050)
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	18,884	19,461	21,550
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of (taxes) benefits	(199,936)	(171,345)	39,860
Other comprehensive income (loss), net of taxes	6,141	(361)	(1,640)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	195,070	177,281	167,700
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Hawaiian Electric (parent only)
Condensed Statement of Income Captions [Line Items]
Net income for common stock	188,929	177,642	169,340
Retirement benefit plans:
Net gains (losses) arising during the period, net of (taxes) benefits	187,193	151,523	(63,050)
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	18,884	19,461	21,550
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of (taxes) benefits	(199,936)	(171,345)	39,860
Other comprehensive income (loss), net of taxes	6,141	(361)	(1,640)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	195,070	177,281	167,700
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Hawaii Electric Light
Condensed Statement of Income Captions [Line Items]
Net income for common stock	21,816	21,180	27,493
Retirement benefit plans:
Net gains (losses) arising during the period, net of (taxes) benefits	44,411	17,902	(9,424)
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	2,811	2,749	3,179
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of (taxes) benefits	(46,841)	(20,585)	6,025
Other comprehensive income (loss), net of taxes	381	66	(220)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	22,197	21,246	27,273
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Maui Electric
Condensed Statement of Income Captions [Line Items]
Net income for common stock	25,677	24,173	20,011
Retirement benefit plans:
Net gains (losses) arising during the period, net of (taxes) benefits	44,386	16,572	(10,897)
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	2,584	2,553	2,763
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of (taxes) benefits	(46,694)	(18,898)	8,000
Other comprehensive income (loss), net of taxes	276	227	(134)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	25,953	24,400	19,877
Hawaiian Electric Company, Inc. and Subsidiaries | Consolidating adjustments
Condensed Statement of Income Captions [Line Items]
Net income for common stock	(47,493)	(45,353)	(47,504)
Retirement benefit plans:
Net gains (losses) arising during the period, net of (taxes) benefits	(88,797)	(34,474)	20,321
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	(5,395)	(5,302)	(5,942)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of (taxes) benefits	93,535	39,483	(14,025)
Other comprehensive income (loss), net of taxes	(657)	(293)	354
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ (48,150)	$ (45,646)	$ (47,150)

Electric utility segment - Co_3

Electric utility segment - Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Utility property, plant and equipment
Finance lease right-of-use assets	$ 49,370	$ 0
Total property, plant and equipment, net	5,687,003	5,392,068
Current assets
Cash and cash equivalents	199,877	305,551	$ 341,421
Restricted cash	5,100	5,900
Other long-term assets
Operating lease right-of-use-assets	115,684	122,416
Total assets	16,284,244	15,822,637	15,004,007
Capitalization
Total shareholders’ equity	2,202,499	2,390,884	2,337,502	$ 2,280,260
Cumulative preferred stock – not subject to mandatory redemption	34,293	34,293
Current liabilities
Interest and dividends payable	21,333	19,889
Deferred credits and other liabilities
Deferred income taxes	262,462	384,760
Total capitalization and liabilities	16,284,244	15,822,637
Hawaiian Electric (parent only)
Utility property, plant and equipment
Total property, plant and equipment, net	1,877	2,052
Other long-term assets
Total assets	2,929,232	3,062,073
Capitalization
Total shareholders’ equity	2,202,499	2,390,884
Current liabilities
Short-term borrowings from non-affiliate	34,918	0
Deferred credits and other liabilities
Total capitalization and liabilities	2,929,232	3,062,073
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Land	52,060	51,937
Plant and equipment	7,979,510	7,735,983
Finance lease right-of-use assets	48,371	0
Less accumulated depreciation	(3,086,499)	(2,940,517)
Construction in progress	275,353	204,569
Utility property, plant and equipment, net	5,268,795	5,051,972
Nonutility property, plant and equipment, less accumulated depreciation	6,945	6,949
Total property, plant and equipment, net	5,275,740	5,058,921
Investment in wholly-owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	39,242	52,169	47,360
Restricted cash	0	3,089
Advances to affiliates	0	0
Customer accounts receivable, net	288,338	186,859
Accrued unbilled revenues, net	183,280	129,155
Other accounts receivable, net	13,567	7,267
Fuel oil stock, at average cost	191,530	104,078
Materials and supplies, at average cost	79,568	71,877
Prepayments and other	33,482	46,031
Regulatory assets	52,273	66,664
Total current assets	881,280	667,189
Other long-term assets
Operating lease right-of-use-assets	89,318	101,470
Regulatory assets	190,240	498,879
Other	160,889	165,166
Total other long-term assets	440,447	765,515
Total assets	6,597,467	6,491,625
Capitalization
Total shareholders’ equity	2,344,170	2,261,899	2,141,918	2,047,352
Cumulative preferred stock – not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,584,854	1,624,427
Total capitalization	3,963,317	3,920,619
Current liabilities
Current portion of operating lease liabilities	19,095	49,368
Current portion of long-term debt, net	99,962	51,975
Short-term borrowings from non-affiliate	87,967	0
Short-term borrowings-affiliate	0	0
Accounts payable	202,492	160,007
Interest and dividends payable	17,176	17,325
Taxes accrued, including revenue taxes	289,902	208,280
Regulatory liabilities	31,475	29,760
Other	85,596	71,569
Total current liabilities	833,665	588,284
Deferred credits and other liabilities
Operating lease liabilities	78,715	65,780
Finance lease liabilities	46,048	0
Deferred income taxes	384,430	408,634
Regulatory liabilities	1,024,175	967,008
Unamortized tax credits	95,300	103,945
Defined benefit pension and other postretirement benefit plans liability	49,748	321,780
Other	122,069	115,575
Total deferred credits and other liabilities	1,800,485	1,982,722
Total capitalization and liabilities	6,597,467	6,491,625
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Hawaiian Electric (parent only)
Utility property, plant and equipment
Land	42,860	42,737
Plant and equipment	5,260,685	5,097,033
Finance lease right-of-use assets	48,371
Less accumulated depreciation	(1,855,150)	(1,757,096)
Construction in progress	215,560	159,854
Utility property, plant and equipment, net	3,712,326	3,542,528
Nonutility property, plant and equipment, less accumulated depreciation	5,298	5,302
Total property, plant and equipment, net	3,717,624	3,547,830
Investment in wholly-owned subsidiaries, at equity	701,833	676,237
Current assets
Cash and cash equivalents	27,579	23,344	42,205
Restricted cash		3,089
Advances to affiliates	0	1,000
Customer accounts receivable, net	216,802	135,949
Accrued unbilled revenues, net	136,508	92,469
Other accounts receivable, net	23,746	18,624
Fuel oil stock, at average cost	153,342	71,184
Materials and supplies, at average cost	48,130	42,006
Prepayments and other	24,040	32,140
Regulatory assets	46,504	58,695
Total current assets	676,651	478,500
Other long-term assets
Operating lease right-of-use-assets	42,752	78,710
Regulatory assets	154,040	337,903
Other	115,028	130,546
Total other long-term assets	311,820	547,159
Total assets	5,407,928	5,249,726
Capitalization
Total shareholders’ equity	2,344,170	2,261,899	2,141,918	2,047,352
Cumulative preferred stock – not subject to mandatory redemption	22,293	22,293
Long-term debt, net	1,126,915	1,136,620
Total capitalization	3,493,378	3,420,812
Current liabilities
Current portion of operating lease liabilities	9,775	45,955
Current portion of long-term debt, net	49,981	39,981
Short-term borrowings from non-affiliate	87,967
Short-term borrowings-affiliate	26,200	0
Accounts payable	143,253	111,024
Interest and dividends payable	12,398	12,442
Taxes accrued, including revenue taxes	207,798	143,723
Regulatory liabilities	13,145	22,240
Other	64,659	56,752
Total current liabilities	615,176	432,117
Deferred credits and other liabilities
Operating lease liabilities	41,049	46,426
Finance lease liabilities	46,048
Deferred income taxes	271,234	291,027
Regulatory liabilities	729,683	695,152
Unamortized tax credits	69,614	76,201
Defined benefit pension and other postretirement benefit plans liability	65,907	220,480
Other	75,839	67,511
Total deferred credits and other liabilities	1,299,374	1,396,797
Total capitalization and liabilities	5,407,928	5,249,726
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Hawaii Electric Light
Utility property, plant and equipment
Land	5,606	5,606
Plant and equipment	1,425,442	1,390,361
Finance lease right-of-use assets	0
Less accumulated depreciation	(644,457)	(619,991)
Construction in progress	23,989	17,129
Utility property, plant and equipment, net	810,580	793,105
Nonutility property, plant and equipment, less accumulated depreciation	115	115
Total property, plant and equipment, net	810,695	793,220
Investment in wholly-owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	5,092	5,326	3,046
Restricted cash		0
Advances to affiliates	4,500	0
Customer accounts receivable, net	39,339	28,469
Accrued unbilled revenues, net	23,839	19,529
Other accounts receivable, net	5,519	3,347
Fuel oil stock, at average cost	16,964	12,814
Materials and supplies, at average cost	9,783	9,727
Prepayments and other	6,346	6,052
Regulatory assets	2,435	3,051
Total current assets	113,817	88,315
Other long-term assets
Operating lease right-of-use-assets	34,283	22,442
Regulatory assets	21,816	81,645
Other	32,654	17,124
Total other long-term assets	88,753	121,211
Total assets	1,013,265	1,002,746
Capitalization
Total shareholders’ equity	344,720	332,900	317,451	298,998
Cumulative preferred stock – not subject to mandatory redemption	7,000	7,000
Long-term debt, net	224,439	234,390
Total capitalization	576,159	574,290
Current liabilities
Current portion of operating lease liabilities	6,690	3,378
Current portion of long-term debt, net	19,992	11,994
Short-term borrowings from non-affiliate	0
Short-term borrowings-affiliate	0	1,000
Accounts payable	32,113	26,139
Interest and dividends payable	2,576	2,617
Taxes accrued, including revenue taxes	42,436	33,153
Regulatory liabilities	8,553	3,247
Other	20,856	14,158
Total current liabilities	133,216	95,686
Deferred credits and other liabilities
Operating lease liabilities	27,817	19,063
Finance lease liabilities	0
Deferred income taxes	50,615	53,298
Regulatory liabilities	194,222	179,267
Unamortized tax credits	13,150	14,212
Defined benefit pension and other postretirement benefit plans liability	129	48,900
Other	17,957	18,030
Total deferred credits and other liabilities	303,890	332,770
Total capitalization and liabilities	1,013,265	1,002,746
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Maui Electric
Utility property, plant and equipment
Land	3,594	3,594
Plant and equipment	1,293,383	1,248,589
Finance lease right-of-use assets	0
Less accumulated depreciation	(586,892)	(563,430)
Construction in progress	35,804	27,586
Utility property, plant and equipment, net	745,889	716,339
Nonutility property, plant and equipment, less accumulated depreciation	1,532	1,532
Total property, plant and equipment, net	747,421	717,871
Investment in wholly-owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	6,494	23,422	2,032
Restricted cash		0
Advances to affiliates	21,700	0
Customer accounts receivable, net	32,197	22,441
Accrued unbilled revenues, net	22,933	17,157
Other accounts receivable, net	6,686	3,031
Fuel oil stock, at average cost	21,224	20,080
Materials and supplies, at average cost	21,655	20,144
Prepayments and other	4,137	7,114
Regulatory assets	3,334	4,918
Total current assets	140,360	118,307
Other long-term assets
Operating lease right-of-use-assets	12,283	318
Regulatory assets	14,384	79,331
Other	29,495	18,510
Total other long-term assets	56,162	98,159
Total assets	943,943	934,337
Capitalization
Total shareholders’ equity	357,036	343,260	309,363	292,870
Cumulative preferred stock – not subject to mandatory redemption	5,000	5,000
Long-term debt, net	233,500	253,417
Total capitalization	595,536	601,677
Current liabilities
Current portion of operating lease liabilities	2,630	35
Current portion of long-term debt, net	29,989	0
Short-term borrowings from non-affiliate	0
Short-term borrowings-affiliate	0	0
Accounts payable	27,126	22,844
Interest and dividends payable	2,282	2,269
Taxes accrued, including revenue taxes	40,709	30,679
Regulatory liabilities	9,777	4,273
Other	22,385	18,540
Total current liabilities	134,898	78,640
Deferred credits and other liabilities
Operating lease liabilities	9,849	291
Finance lease liabilities	0
Deferred income taxes	62,581	64,309
Regulatory liabilities	100,270	92,589
Unamortized tax credits	12,536	13,532
Defined benefit pension and other postretirement benefit plans liability	0	53,257
Other	28,273	30,042
Total deferred credits and other liabilities	213,509	254,020
Total capitalization and liabilities	943,943	934,337
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Other subsidiaries
Utility property, plant and equipment
Land	0	0
Plant and equipment	0	0
Finance lease right-of-use assets	0
Less accumulated depreciation	0	0
Construction in progress	0	0
Utility property, plant and equipment, net	0	0
Nonutility property, plant and equipment, less accumulated depreciation	0	0
Total property, plant and equipment, net	0	0
Investment in wholly-owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	77	77	77
Restricted cash		0
Advances to affiliates	0	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
Total shareholders’ equity	77	77	77	101
Cumulative preferred stock – 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, net	0	0
Short-term borrowings from non-affiliate	0
Short-term borrowings-affiliate	0	0
Accounts payable	0	0
Interest and dividends payable	0	0
Taxes accrued, including revenue taxes	0	0
Regulatory liabilities	0	0
Other	0	0
Total current liabilities	0	0
Deferred credits and other liabilities
Operating lease liabilities	0	0
Finance lease liabilities	0
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
Total deferred credits and other liabilities	0	0
Total capitalization and liabilities	77	77
Hawaiian Electric Company, Inc. and Subsidiaries | Consolidating adjustments
Utility property, plant and equipment
Land	0	0
Plant and equipment	0	0
Finance lease right-of-use assets	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	(701,833)	(676,237)
Current assets
Cash and cash equivalents	0	0	0
Restricted cash		0
Advances to affiliates	(26,200)	(1,000)
Customer accounts receivable, net	0	0
Accrued unbilled revenues, net	0	0
Other accounts receivable, net	(22,384)	(17,735)
Fuel oil stock, at average cost	0	0
Materials and supplies, at average cost	0	0
Prepayments and other	(1,041)	725
Regulatory assets	0	0
Total current assets	(49,625)	(18,010)
Other long-term assets
Operating lease right-of-use-assets	0	0
Regulatory assets	0	0
Other	(16,288)	(1,014)
Total other long-term assets	(16,288)	(1,014)
Total assets	(767,746)	(695,261)
Capitalization
Total shareholders’ equity	(701,833)	(676,237)	$ (626,891)	$ (591,969)
Cumulative preferred stock – not subject to mandatory redemption	0	0
Long-term debt, net	0	0
Total capitalization	(701,833)	(676,237)
Current liabilities
Current portion of operating lease liabilities	0	0
Current portion of long-term debt, net	0	0
Short-term borrowings from non-affiliate	0
Short-term borrowings-affiliate	(26,200)	(1,000)
Accounts payable	0	0
Interest and dividends payable	(80)	(3)
Taxes accrued, including revenue taxes	(1,041)	725
Regulatory liabilities	0	0
Other	(22,304)	(17,881)
Total current liabilities	(49,625)	(18,159)
Deferred credits and other liabilities
Operating lease liabilities	0	0
Finance lease liabilities	0
Deferred income taxes	0	0
Regulatory liabilities	0	0
Unamortized tax credits	0	0
Defined benefit pension and other postretirement benefit plans liability	(16,288)	(857)
Other	0	(8)
Total deferred credits and other liabilities	(16,288)	(865)
Total capitalization and liabilities	$ (767,746)	$ (695,261)

Electric utility segment - Co_4

Electric utility segment - Consolidating Statements of Changes in Common Stock Equity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Increase (decrease) in stockholders' equity
Beginning balance	$ 2,390,884	$ 2,337,502	$ 2,280,260
Net income for common stock	241,138	246,166	197,824
Other comprehensive income (loss), net of taxes	(283,495)	(51,269)	18,775
Common stock dividends	(153,229)	(148,643)	(144,096)
Ending balance	2,202,499	2,390,884	2,337,502
Hawaiian Electric (parent only)
Increase (decrease) in stockholders' equity
Beginning balance	2,390,884
Net income for common stock	241,138	246,166	197,824
Ending balance	2,202,499	2,390,884
Hawaiian Electric Company, Inc. and Subsidiaries
Increase (decrease) in stockholders' equity
Beginning balance	2,261,899	2,141,918	2,047,352
Net income for common stock	188,929	177,642	169,340
Other comprehensive income (loss), net of taxes	6,141	(361)	(1,640)
Issuance of common stock, net of expenses	13,101	54,400	34,000
Common stock dividends	(125,900)	(111,700)	(107,134)
Dissolution of subsidiary			0
Ending balance	2,344,170	2,261,899	2,141,918
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Hawaiian Electric (parent only)
Increase (decrease) in stockholders' equity
Beginning balance	2,261,899	2,141,918	2,047,352
Net income for common stock	188,929	177,642	169,340
Other comprehensive income (loss), net of taxes	6,141	(361)	(1,640)
Issuance of common stock, net of expenses	13,101	54,400	34,000
Common stock dividends	(125,900)	(111,700)	(107,134)
Ending balance	2,344,170	2,261,899	2,141,918
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Hawaii Electric Light
Increase (decrease) in stockholders' equity
Beginning balance	332,900	317,451	298,998
Net income for common stock	21,816	21,180	27,493
Other comprehensive income (loss), net of taxes	381	66	(220)
Issuance of common stock, net of expenses	6,023	8,803	7,500
Common stock dividends	(16,400)	(14,600)	(16,320)
Ending balance	344,720	332,900	317,451
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Maui Electric
Increase (decrease) in stockholders' equity
Beginning balance	343,260	309,363	292,870
Net income for common stock	25,677	24,173	20,011
Other comprehensive income (loss), net of taxes	276	227	(134)
Issuance of common stock, net of expenses	3,023	24,597	11,000
Common stock dividends	(15,200)	(15,100)	(14,384)
Ending balance	357,036	343,260	309,363
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Other subsidiaries
Increase (decrease) in stockholders' equity
Beginning balance	77	77	101
Dissolution of subsidiary			(24)
Ending balance	77	77	77
Hawaiian Electric Company, Inc. and Subsidiaries | Consolidating adjustments
Increase (decrease) in stockholders' equity
Beginning balance	(676,237)	(626,891)	(591,969)
Net income for common stock	(47,493)	(45,353)	(47,504)
Other comprehensive income (loss), net of taxes	(657)	(293)	354
Issuance of common stock, net of expenses	(9,046)	(33,400)	(18,500)
Common stock dividends	31,600	29,700	30,704
Dissolution of subsidiary			24
Ending balance	$ (701,833)	$ (676,237)	$ (626,891)

Electric utility segment - Co_5

Electric utility segment - Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	$ 256,069	$ 246,158	$ 238,114
Other amortization	38,772	32,544	52,664
Deferred income taxes	(32,502)	(5,398)	(1,706)
Allowance for equity funds used during construction	(10,574)	(9,534)	(8,768)
Other	(7,580)	(7,060)	1,366
Changes in assets and liabilities
Increase in fuel oil stock	(87,569)	(45,819)	34,202
Decrease in regulatory assets	34,600	(13,874)	1,007
Increase in regulatory liabilities	44,888	15,358	(16,562)
Change in prepaid and accrued income taxes, tax credits and revenue taxes	121,636	41,331	(35,610)
Decrease in defined benefit pension and other postretirement benefit plans liability	(5,191)	(6,660)	(2,029)
Net cash provided by operating activities	454,476	375,673	429,407
Cash flows from investing activities
Capital expenditures	(344,037)	(314,524)	(383,895)
Other	13,046	27	3,412
Net cash used in investing activities	(1,128,682)	(1,179,592)	(1,413,648)
Cash flows from financing activities
Common stock dividends	(153,229)	(148,643)	(144,096)
Proceeds from issuance of long-term debt	227,312	285,886	415,997
Repayment of long-term debt	(221,910)	(82,262)	(178,969)
Net increase (decrease) in other bank borrowings with original maturities of three months or less	606,815	(1,365)	(25,440)
Proceeds from issuance of short-term debt	35,000	0	165,000
Repayment of short-term debt	0	(65,000)	(150,000)
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	83,652	(10,493)	(71,219)
Payments of obligations under finance leases	(849)
Other	(2,398)	(3,080)	(3,203)
Net cash used in financing activities	567,671	756,402	1,115,535
Net increase (decrease) in cash and equivalents	(106,535)	(47,517)	131,294
Cash, cash equivalents and restricted cash, January 1	311,462	358,979	227,685
Cash, cash equivalents and restricted cash, December 31	204,927	311,462	358,979
Less: Restricted cash	(5,050)	(5,911)	(17,558)
Cash and cash equivalents	199,877	305,551	341,421
Hawaiian Electric (parent only)
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	399	414	485
Changes in assets and liabilities
Net cash provided by operating activities	167,150	154,151	134,363
Cash flows from investing activities
Capital expenditures	(224)	(10)	(20)
Other	1,662	180	2,435
Net cash used in investing activities	(50,331)	(76,062)	(17,530)
Cash flows from financing activities
Common stock dividends	(153,229)	(148,643)	(144,096)
Proceeds from issuance of long-term debt	160,000	150,000	50,000
Repayment of long-term debt	(150,000)	(50,000)	0
Proceeds from issuance of short-term debt	35,000	0	65,000
Repayment of short-term debt	0	(15,000)	(50,000)
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	(4,315)	(10,493)	(32,232)
Other	(978)	(1,767)	(459)
Net cash used in financing activities	(116,687)	(77,909)	(117,487)
Net increase (decrease) in cash and equivalents	132	180	(654)
Cash, cash equivalents and restricted cash, January 1	479	299	953
Cash, cash equivalents and restricted cash, December 31	611	479	299
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income (loss)	190,924	179,637	171,335
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	0	0	0
Common stock dividends received from subsidiaries	0	0	0
Depreciation of property, plant and equipment	235,424	229,469	222,733
Other amortization	25,320	21,737	33,746
Deferred income taxes	(41,415)	(3,829)	3,151
State refundable credit	(10,999)	(10,582)	(9,961)
Bad debt expense	6,027	2,183	2,115
Allowance for equity funds used during construction	(10,574)	(9,534)	(8,768)
Accrued environmental reserve	0	0	6,556
Bill credits	0	2,000	0
Other	(139)	1,350	2,610
Changes in assets and liabilities
Increase in accounts receivable	(91,742)	(50,090)	(7,286)
Decrease (increase) in accrued unbilled revenues	(54,023)	(27,464)	15,285
Increase in fuel oil stock	(87,452)	(45,840)	33,699
Increase in materials and supplies	(7,691)	(4,533)	(6,642)
Decrease in regulatory assets	34,600	(13,874)	1,007
Increase in regulatory liabilities	44,888	15,358	(16,562)
Increase in accounts payable	22,355	17,671	(33,129)
Change in prepaid and accrued income taxes, tax credits and revenue taxes	103,198	26,930	(37,180)
Decrease in defined benefit pension and other postretirement benefit plans liability	(4,828)	(5,154)	(4,306)
Change in other assets and liabilities	(25,943)	(52,302)	(31,852)
Net cash provided by operating activities	327,930	273,133	336,551
Cash flows from investing activities
Capital expenditures	(329,457)	(292,000)	(350,864)
Advances to affiliates	0	0	0
Other	5,372	6,035	6,070
Net cash used in investing activities	(324,085)	(285,965)	(344,794)
Cash flows from financing activities
Common stock dividends	(125,900)	(111,700)	(107,134)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(1,995)	(1,995)	(1,995)
Proceeds from issuance of common stock	13,101	54,400	34,000
Proceeds from issuance of long-term debt	60,000	115,000	255,000
Repayment of long-term debt	(52,000)	0	(109,000)
Net increase (decrease) in other bank borrowings with original maturities of three months or less		0	(38,987)
Proceeds from issuance of short-term debt	0	0	100,000
Repayment of short-term debt	0	(50,000)	(100,000)
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	87,967	0	(38,987)
Payments of obligations under finance leases	(670)	0	0
Other	(364)	(941)	(2,209)
Net cash used in financing activities	(19,861)	4,764	29,675
Net increase (decrease) in cash and equivalents	(16,016)	(8,068)	21,432
Cash, cash equivalents and restricted cash, January 1	55,258	63,326	41,894
Cash, cash equivalents and restricted cash, December 31	39,242	55,258	63,326
Less: Restricted cash	0	(3,089)	(15,966)
Cash and cash equivalents	39,242	52,169	47,360
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Hawaiian Electric (parent only)
Cash flows from operating activities
Net income (loss)	190,009	178,722	170,420
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	(47,493)	(45,353)	(47,504)
Common stock dividends received from subsidiaries	31,600	29,700	30,704
Depreciation of property, plant and equipment	158,725	155,607	151,387
Other amortization	16,708	16,688	24,511
Deferred income taxes	(33,648)	(3,191)	2,130
State refundable credit	(7,375)	(7,120)	(6,668)
Bad debt expense	4,175	1,159	1,042
Allowance for equity funds used during construction	(8,464)	(7,734)	(7,335)
Accrued environmental reserve			6,556
Bill credits		1,400
Other	(65)	366	1,201
Changes in assets and liabilities
Increase in accounts receivable	(74,067)	(41,727)	(8,093)
Decrease (increase) in accrued unbilled revenues	(43,972)	(18,345)	8,832
Increase in fuel oil stock	(82,158)	(32,407)	30,226
Increase in materials and supplies	(6,124)	(3,220)	(3,910)
Decrease in regulatory assets	28,076	(15,422)	8,526
Increase in regulatory liabilities	28,621	16,269	(5,490)
Increase in accounts payable	18,657	9,828	(26,093)
Change in prepaid and accrued income taxes, tax credits and revenue taxes	77,903	21,217	(25,757)
Decrease in defined benefit pension and other postretirement benefit plans liability	(3,545)	(3,480)	(3,092)
Change in other assets and liabilities	(17,884)	(36,733)	(21,124)
Net cash provided by operating activities	229,679	216,224	280,469
Cash flows from investing activities
Capital expenditures	(223,223)	(194,984)	(229,127)
Advances to affiliates	1,000	25,700	1,000
Other	(5,687)	(29,596)	(14,340)
Net cash used in investing activities	(227,910)	(198,880)	(242,467)
Cash flows from financing activities
Common stock dividends	(125,900)	(111,700)	(107,134)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(1,080)	(1,080)	(1,080)
Proceeds from issuance of common stock	13,101	54,400	34,000
Proceeds from issuance of long-term debt	40,000	60,000	205,000
Repayment of long-term debt	(40,000)		(95,000)
Net increase (decrease) in other bank borrowings with original maturities of three months or less		0	(46,987)
Proceeds from issuance of short-term debt			100,000
Repayment of short-term debt		(50,000)	(100,000)
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	114,167
Payments of obligations under finance leases	(670)
Other	(241)	(702)	(1,618)
Net cash used in financing activities	(623)	(49,082)	(12,819)
Net increase (decrease) in cash and equivalents	1,146	(31,738)	25,183
Cash, cash equivalents and restricted cash, January 1	26,433	58,171	32,988
Cash, cash equivalents and restricted cash, December 31	27,579	26,433	58,171
Less: Restricted cash	0	(3,089)	(15,966)
Cash and cash equivalents	27,579	23,344	42,205
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Hawaii Electric Light
Cash flows from operating activities
Net income (loss)	22,350	21,714	28,027
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	0	0	0
Common stock dividends received from subsidiaries	0	0	0
Depreciation of property, plant and equipment	41,404	40,201	39,041
Other amortization	4,996	3,532	5,090
Deferred income taxes	(4,040)	(1,955)	(463)
State refundable credit	(1,734)	(1,672)	(1,593)
Bad debt expense	1,073	509	620
Allowance for equity funds used during construction	(898)	(586)	(543)
Accrued environmental reserve			0
Bill credits		300
Other	(50)	(41)	1,322
Changes in assets and liabilities
Increase in accounts receivable	(11,644)	(6,832)	(3,349)
Decrease (increase) in accrued unbilled revenues	(4,289)	(5,816)	3,327
Increase in fuel oil stock	(4,150)	(4,343)	430
Increase in materials and supplies	(56)	169	(1,583)
Decrease in regulatory assets	1,546	24	(2,908)
Increase in regulatory liabilities	7,977	(1,031)	(4,489)
Increase in accounts payable	3,294	4,723	(1,819)
Change in prepaid and accrued income taxes, tax credits and revenue taxes	11,117	3,861	(5,483)
Decrease in defined benefit pension and other postretirement benefit plans liability	(626)	(950)	(643)
Change in other assets and liabilities	213	(5,833)	(8,864)
Net cash provided by operating activities	66,483	45,974	46,120
Cash flows from investing activities
Capital expenditures	(49,004)	(50,516)	(64,346)
Advances to affiliates	(4,500)	0	8,000
Other	760	1,072	1,032
Net cash used in investing activities	(52,744)	(49,444)	(55,314)
Cash flows from financing activities
Common stock dividends	(16,400)	(14,600)	(16,320)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(534)	(534)	(534)
Proceeds from issuance of common stock	6,023	8,803	7,500
Proceeds from issuance of long-term debt	10,000	30,000	10,000
Repayment of long-term debt	(12,000)		(14,000)
Net increase (decrease) in other bank borrowings with original maturities of three months or less		(17,800)	18,800
Proceeds from issuance of short-term debt			0
Repayment of short-term debt		0	0
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	(1,000)
Payments of obligations under finance leases	0
Other	(62)	(119)	(214)
Net cash used in financing activities	(13,973)	5,750	5,232
Net increase (decrease) in cash and equivalents	(234)	2,280	(3,962)
Cash, cash equivalents and restricted cash, January 1	5,326	3,046	7,008
Cash, cash equivalents and restricted cash, December 31	5,092	5,326	3,046
Less: Restricted cash	0	0	0
Cash and cash equivalents	5,092	5,326	3,046
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Maui Electric
Cash flows from operating activities
Net income (loss)	26,058	24,554	20,392
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	0	0	0
Common stock dividends received from subsidiaries	0	0	0
Depreciation of property, plant and equipment	35,295	33,661	32,305
Other amortization	3,616	1,517	4,145
Deferred income taxes	(3,727)	1,317	1,484
State refundable credit	(1,890)	(1,790)	(1,700)
Bad debt expense	779	515	453
Allowance for equity funds used during construction	(1,212)	(1,214)	(890)
Accrued environmental reserve			0
Bill credits		300
Other	(24)	1,025	87
Changes in assets and liabilities
Increase in accounts receivable	(10,680)	(3,071)	(1,343)
Decrease (increase) in accrued unbilled revenues	(5,762)	(3,303)	3,126
Increase in fuel oil stock	(1,144)	(9,090)	3,043
Increase in materials and supplies	(1,511)	(1,482)	(1,149)
Decrease in regulatory assets	4,978	1,524	(4,611)
Increase in regulatory liabilities	8,290	120	(6,583)
Increase in accounts payable	404	3,120	(5,217)
Change in prepaid and accrued income taxes, tax credits and revenue taxes	14,178	1,938	(5,998)
Decrease in defined benefit pension and other postretirement benefit plans liability	(657)	(724)	(571)
Change in other assets and liabilities	(3,623)	(8,196)	3,635
Net cash provided by operating activities	63,368	40,721	40,608
Cash flows from investing activities
Capital expenditures	(57,230)	(46,500)	(57,391)
Advances to affiliates	(21,700)	0	0
Other	1,253	1,073	960
Net cash used in investing activities	(77,677)	(45,427)	(56,431)
Cash flows from financing activities
Common stock dividends	(15,200)	(15,100)	(14,384)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(381)	(381)	(381)
Proceeds from issuance of common stock	3,023	24,597	11,000
Proceeds from issuance of long-term debt	10,000	25,000	40,000
Repayment of long-term debt	0		0
Net increase (decrease) in other bank borrowings with original maturities of three months or less		(7,900)	(19,800)
Proceeds from issuance of short-term debt			0
Repayment of short-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
Payments of obligations under finance leases	0
Other	(61)	(120)	(377)
Net cash used in financing activities	(2,619)	26,096	16,058
Net increase (decrease) in cash and equivalents	(16,928)	21,390	235
Cash, cash equivalents and restricted cash, January 1	23,422	2,032	1,797
Cash, cash equivalents and restricted cash, December 31	6,494	23,422	2,032
Less: Restricted cash	0	0	0
Cash and cash equivalents	6,494	23,422	2,032
Hawaiian Electric Company, Inc. and Subsidiaries | Reportable Legal Entities | Other subsidiaries
Cash flows from operating activities
Net income (loss)	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	0	0	0
Common stock dividends received from subsidiaries	0	0	0
Depreciation of property, plant and equipment	0	0	0
Other amortization	0	0	0
Deferred income taxes	0	0	0
State refundable credit	0	0	0
Bad debt expense		0	0
Allowance for equity funds used during construction	0	0	0
Accrued environmental reserve			0
Bill credits		0
Other	0	0	0
Changes in assets and liabilities
Increase in accounts receivable	0	0	0
Decrease (increase) in accrued unbilled revenues	0	0	0
Increase in fuel oil stock	0	0	0
Increase in materials and supplies	0	0	0
Decrease in regulatory assets	0	0	0
Increase in regulatory liabilities
Increase in accounts payable	0	0	0
Change in prepaid and accrued income taxes, tax credits and revenue taxes	0	0	0
Decrease in defined benefit pension and other postretirement benefit plans liability	0	0	0
Change in other assets and liabilities	0	0	0
Net cash provided by operating activities	0	0	0
Cash flows from investing activities
Capital expenditures	0	0	0
Advances to affiliates	0	0	0
Other	0		(24)
Net cash used in investing activities	0	0	(24)
Cash flows from financing activities
Common stock dividends	0	0	0
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0	0
Proceeds from issuance of common stock	0	0	0
Proceeds from issuance of long-term debt	0	0	0
Repayment of long-term debt	0		0
Net increase (decrease) in other bank borrowings with original maturities of three months or less		0	0
Proceeds from issuance of short-term debt			0
Repayment of short-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
Payments of obligations under finance leases	0
Other	0	0	0
Net cash used in financing activities	0	0	0
Net increase (decrease) in cash and equivalents	0	0	(24)
Cash, cash equivalents and restricted cash, January 1	77	77	101
Cash, cash equivalents and restricted cash, December 31	77	77	77
Less: Restricted cash	0	0	0
Cash and cash equivalents	77	77	77
Hawaiian Electric Company, Inc. and Subsidiaries | Consolidating adjustments
Cash flows from operating activities
Net income (loss)	(47,493)	(45,353)	(47,504)
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries	47,493	45,353	47,504
Common stock dividends received from subsidiaries	(31,600)	(29,700)	(30,704)
Depreciation of property, plant and equipment	0	0	0
Other amortization	0	0	0
Deferred income taxes	0	0	0
State refundable credit	0	0	0
Bad debt expense		0	0
Allowance for equity funds used during construction	0	0	0
Accrued environmental reserve			0
Bill credits		0
Other	0	0	0
Changes in assets and liabilities
Increase in accounts receivable	4,649	1,540	5,499
Decrease (increase) in accrued unbilled revenues	0	0	0
Increase in fuel oil stock	0	0	0
Increase in materials and supplies	0	0	0
Decrease in regulatory assets	0	0	0
Increase in regulatory liabilities	0
Increase in accounts payable	0	0	0
Change in prepaid and accrued income taxes, tax credits and revenue taxes	0	(86)	58
Decrease in defined benefit pension and other postretirement benefit plans liability	0	0	0
Change in other assets and liabilities	(4,649)	(1,540)	(5,499)
Net cash provided by operating activities	(31,600)	(29,786)	(30,646)
Cash flows from investing activities
Capital expenditures	0	0	0
Advances to affiliates	25,200	(25,700)	(9,000)
Other	9,046	33,486	18,442
Net cash used in investing activities	34,246	7,786	9,442
Cash flows from financing activities
Common stock dividends	31,600	29,700	30,704
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0	0
Proceeds from issuance of common stock	(9,046)	(33,400)	(18,500)
Proceeds from issuance of long-term debt	0	0	0
Repayment of long-term debt	0		0
Net increase (decrease) in other bank borrowings with original maturities of three months or less		25,700	9,000
Proceeds from issuance of short-term debt			0
Repayment of short-term debt		0	0
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	(25,200)
Payments of obligations under finance leases	0
Other	0	0	0
Net cash used in financing activities	(2,646)	22,000	21,204
Net increase (decrease) in cash and equivalents	0	0	0
Cash, cash equivalents and restricted cash, January 1	0	0	0
Cash, cash equivalents and restricted cash, December 31	0	0	0
Less: Restricted cash	0	0	0
Cash and cash equivalents	$ 0	$ 0	$ 0

Bank segment (HEI only) - State

Bank segment (HEI only) - Statements of Income Data (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest expense
Interest on deposit liabilities	$ 7,327	$ 4,981	$ 10,654
Total interest expense	116,703	99,403	99,808
Noninterest income
Noninterest income	3,465,215	2,521,425
Noninterest expense
Income before income taxes	304,195	310,863	240,624
Income taxes	61,167	62,807	40,910
Net income	243,028	248,056	199,714
Current period other comprehensive income (loss) and reclassifications, net of taxes	(283,495)	(51,269)	18,775
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	(42,357)	194,897	216,599
COVID-19 related costs			5,100
Incremental compensation expense			2,500
Enhanced cleaning and sanitation costs			2,000
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans	207,830	198,802	214,134
Interest and dividends on investment securities	58,044	43,464	30,529
Total interest and dividend income	265,874	242,266	244,663
Interest expense
Interest on deposit liabilities	7,327	4,981	10,654
Interest on other borrowings	5,974	59	460
Total interest expense	13,301	5,040	11,114
Net interest income	252,573	237,226	233,549
Provision for credit losses	2,037	(25,825)	50,811
Net interest income after provision for credit losses	250,536	263,051	182,738
Noninterest income
Gain on sale of real estate	1,778	0	0
Gain on sale of investment securities, net	0	528	9,275
Total noninterest income	56,972	64,660	78,123
Noninterest expense
Compensation and employee benefits	113,839	113,970	104,443
Occupancy	24,026	20,584	21,573
Data processing	17,681	17,634	14,769
Services	10,679	10,327	11,121
Equipment	10,100	9,510	9,001
Office supplies, printing and postage	4,398	4,239	4,623
Marketing	3,968	3,870	3,435
FDIC insurance	3,591	3,235	2,342
Other expense	16,985	13,783	20,283
Total noninterest expense	205,267	197,152	191,590
Income before income taxes	102,241	130,559	69,271
Income taxes	22,252	29,325	11,688
Net income	79,989	101,234	57,583
Current period other comprehensive income (loss) and reclassifications, net of taxes	(298,833)	(52,728)	23,608
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	(218,844)	48,506	81,191
American Savings Bank (ASB) | Fees from other financial services
Noninterest income
Noninterest income	19,830	21,225	16,447
American Savings Bank (ASB) | Fee income on deposit liabilities
Noninterest income
Noninterest income	18,762	16,663	16,059
American Savings Bank (ASB) | Fee income on other financial products
Noninterest income
Noninterest income	10,291	8,770	6,381
American Savings Bank (ASB) | Bank-owned life insurance
Noninterest income
Noninterest income	2,533	7,318	6,483
American Savings Bank (ASB) | Mortgage banking income
Noninterest income
Noninterest income	1,692	9,305	23,734
American Savings Bank (ASB) | Other income, net
Noninterest income
Noninterest income	$ 2,086	$ 851	$ (256)

Bank segment (HEI only) - Recon

Bank segment (HEI only) - Reconciliation of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Gain on sales of investment securities, net and equity-method investment	$ 8,123	$ 528	$ 9,275
Total revenues	3,741,985	2,850,379	2,579,775
Total interest expense	116,703	99,403	99,808
Less: Retirement defined benefits expense (credit)—other than service costs	(4,411)	(5,848)	3,210
Total expenses	3,360,912	2,464,313	2,268,282
Operating income	381,073	386,066	311,493
Add back: Retirement defined benefits expense (credit)—other than service costs	(4,411)	(5,848)	3,210
Add back: Gain on sale of investment securities, net	8,123	528	9,275
Income before income taxes	304,195	310,863	240,624
American Savings Bank (ASB)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Interest and dividend income	265,874	242,266	244,663
Noninterest income	56,972	64,660	78,123
Less: Gain on sale of real estate	1,778	0	0
Gain on sales of investment securities, net and equity-method investment	0	528	9,275
Total revenues	321,068	306,398	313,511
Total interest expense	13,301	5,040	11,114
Provision for credit losses	2,037	(25,825)	50,811
Noninterest expense	205,267	197,152	191,590
Less: Retirement defined benefits expense (credit)—other than service costs	(723)	(1,828)	1,813
Gain on sale of real estate	1,778	0	0
Total expenses	219,550	178,195	251,702
Operating income	101,518	128,203	61,809
Add back: Retirement defined benefits expense (credit)—other than service costs	(723)	(1,828)	1,813
Add back: Gain on sale of investment securities, net	0	528	9,275
Income before income taxes	$ 102,241	$ 130,559	$ 69,271

Bank segment (HEI only) - Balan

Bank segment (HEI only) - Balance Sheets Data (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 199,877	$ 305,551	$ 341,421
Investment securities
Available-for-sale investment securities	1,429,667	2,574,618
Held-to-maturity investment securities, at amortized cost	1,251,747	522,270
Held-to-maturity investment securities	1,150,971
Stock in Federal Home Loan Bank, at cost	26,560	10,000
Allowance for credit losses	(72,216)	(71,130)	(101,201)	$ (53,355)
Total loans, net	5,906,690	5,139,984
Loans held for sale, at lower of cost or fair value	824	10,404
Other	824,536	747,469
Goodwill	82,190	82,190
Total assets	16,284,244	15,822,637	15,004,007
LIABILITIES AND SHAREHOLDERS’ EQUITY
Other	787,057	669,215
Total liabilities	14,047,452	13,397,460
Commitments and contingencies
Retained earnings	845,830	757,921
Accumulated other comprehensive income (loss), net of taxes
Net unrealized losses on securities	(328,904)	(32,037)
Retirement benefit plans	(9,115)	(16,858)
Accumulated other comprehensive income (loss), net of taxes	(336,028)	(52,533)
Total shareholders’ equity	2,202,499	2,390,884	$ 2,337,502	$ 2,280,260
Total capitalization and liabilities	16,284,244	15,822,637
Other assets
Premises and equipment, net	5,687,003	5,392,068
Total other assets	824,536	747,469
Other liabilities
Total other liabilities	787,057	669,215
American Savings Bank (ASB)
Assets
Cash and due from banks	153,042	100,051
Interest-bearing deposits	3,107	151,189
Cash and cash equivalents	156,149	251,240
Investment securities
Available-for-sale investment securities	1,429,667	2,574,618
Held-to-maturity investment securities, at amortized cost	1,251,747	522,270
Held-to-maturity investment securities	1,150,971	510,474
Stock in Federal Home Loan Bank, at cost	26,560	10,000
Loans held for investment	5,978,906	5,211,114
Allowance for credit losses	(72,216)	(71,130)
Total loans, net	5,906,690	5,139,984
Loans held for sale, at lower of cost or fair value	824	10,404
Other	692,143	590,897
Goodwill	82,190	82,190
Total assets	9,545,970	9,181,603
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposit liabilities–noninterest-bearing	2,811,077	2,976,632
Deposit liabilities–interest-bearing	5,358,619	5,195,580
Other borrowings	695,120	88,305
Other	212,269	193,268
Total liabilities	9,077,085	8,453,785
Commitments and contingencies
Common stock	1	1
Premium on capital stock	355,806	353,895
Retained earnings	449,693	411,704
Accumulated other comprehensive income (loss), net of taxes
Net unrealized losses on securities	(328,904)	(32,037)
Retirement benefit plans	(7,711)	(5,745)
Accumulated other comprehensive income (loss), net of taxes	(336,615)	(37,782)
Total shareholders’ equity	468,885	727,818
Total capitalization and liabilities	9,545,970	9,181,603
Other assets
Bank-owned life insurance	182,986	177,566
Premises and equipment, net	195,324	202,299
Accrued interest receivable	25,077	20,854
Mortgage servicing rights	9,047	9,950
Low-income housing investments	106,978	110,989
Deferred income tax assets	116,441	7,699
Real estate acquired in settlement of loans, net	115	0
Other	56,175	61,540
Total other assets	692,143	590,897
Other liabilities
Accrued expenses	97,295	87,905
Federal income taxes payable	863	0
Cashier’s checks	36,401	33,675
Advance payments by borrowers	9,637	9,994
Other	68,073	61,694
Total other liabilities	$ 212,269	$ 193,268

Bank segment (HEI only) - Avail

Bank segment (HEI only) - Available For Sale Investment Securities (Details) $ in Thousands	Dec. 31, 2022 USD ($) issue	Dec. 31, 2021 USD ($) issue
Available-for-sale
Amortized cost	$ 1,678,205
Available-for-sale investment securities	1,429,667	$ 2,574,618
Held-to-maturity
Amortized cost	1,251,747	522,270
Held-to-maturity investment securities	1,150,971
American Savings Bank (ASB)
Available-for-sale
Amortized cost	1,678,205	2,618,384
Gross unrealized gains	0	7,969
Gross unrealized losses	(248,538)	(51,735)
Available-for-sale investment securities	$ 1,429,667	$ 2,574,618
Number of issues, less than 12 months | issue	129	125
Fair value, less than 12 months	$ 526,681	$ 1,902,850
Gross unrealized losses, less than 12 months	$ (61,147)	$ (38,850)
Number of issues, more than 12 months | issue	75	18
Fair value, 12 months or longer	$ 888,084	$ 271,012
Gross unrealized losses, 12 months or longer	(187,391)	(12,885)
Held-to-maturity
Amortized cost	1,251,747	522,270
Gross unrealized gains	2,670	1,648
Gross unrealized losses	(103,446)	(13,444)
Held-to-maturity investment securities	$ 1,150,971	$ 510,474
Number of issues, less than 12 months | issue	23	24
Fair value, less than 12 months	$ 200,503	$ 330,477
Gross unrealized losses, less than 12 months	$ (13,815)	$ (7,835)
Number of issues, more than 12 months | issue	53	7
Fair value, 12 months or longer	$ 601,792	$ 106,483
Gross unrealized losses, 12 months or longer	(89,631)	(5,609)
American Savings Bank (ASB) | U.S. Treasury and federal agency obligations
Available-for-sale
Amortized cost	88,344	89,714
Gross unrealized gains	0	803
Gross unrealized losses	(7,281)	(427)
Available-for-sale investment securities	$ 81,063	$ 90,090
Number of issues, less than 12 months | issue	12	4
Fair value, less than 12 months	$ 41,201	$ 44,827
Gross unrealized losses, less than 12 months	$ (2,120)	$ (427)
Number of issues, more than 12 months | issue	4	0
Fair value, 12 months or longer	$ 39,862	$ 0
Gross unrealized losses, 12 months or longer	(5,161)	0
Held-to-maturity
Amortized cost	59,894	59,871
Gross unrealized gains	0	168
Gross unrealized losses	(8,478)	(170)
Held-to-maturity investment securities	$ 51,416	$ 59,869
Number of issues, less than 12 months | issue	1	2
Fair value, less than 12 months	$ 16,874	$ 39,594
Gross unrealized losses, less than 12 months	$ (3,222)	$ (170)
Number of issues, more than 12 months | issue	2	0
Fair value, 12 months or longer	$ 34,542	$ 0
Gross unrealized losses, 12 months or longer	(5,256)	0
American Savings Bank (ASB) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies
Available-for-sale
Amortized cost	1,530,582	2,482,618
Gross unrealized gains	0	6,511
Gross unrealized losses	(237,614)	(51,206)
Available-for-sale investment securities	$ 1,292,968	$ 2,437,923
Number of issues, less than 12 months | issue	113	120
Fair value, less than 12 months	$ 455,836	$ 1,845,243
Gross unrealized losses, less than 12 months	$ (56,999)	$ (38,321)
Number of issues, more than 12 months | issue	70	18
Fair value, 12 months or longer	$ 837,132	$ 271,012
Gross unrealized losses, 12 months or longer	(180,615)	(12,885)
Held-to-maturity
Amortized cost	1,191,853	462,399
Gross unrealized gains	2,670	1,480
Gross unrealized losses	(94,968)	(13,274)
Held-to-maturity investment securities	$ 1,099,555	$ 450,605
Number of issues, less than 12 months | issue	22	22
Fair value, less than 12 months	$ 183,629	$ 290,883
Gross unrealized losses, less than 12 months	$ (10,593)	$ (7,665)
Number of issues, more than 12 months | issue	51	7
Fair value, 12 months or longer	$ 567,250	$ 106,483
Gross unrealized losses, 12 months or longer	(84,375)	(5,609)
American Savings Bank (ASB) | Corporate bonds
Available-for-sale
Amortized cost	44,377	30,625
Gross unrealized gains	0	655
Gross unrealized losses	(3,643)	(102)
Available-for-sale investment securities	$ 40,734	$ 31,178
Number of issues, less than 12 months | issue	4	1
Fair value, less than 12 months	$ 29,644	$ 12,780
Gross unrealized losses, less than 12 months	$ (2,028)	$ (102)
Number of issues, more than 12 months | issue	1	0
Fair value, 12 months or longer	$ 11,090	$ 0
Gross unrealized losses, 12 months or longer	(1,615)	0
American Savings Bank (ASB) | Mortgage revenue bonds
Available-for-sale
Amortized cost	14,902	15,427
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Available-for-sale investment securities	$ 14,902	$ 15,427
Number of issues, less than 12 months | issue	0	0
Fair value, less than 12 months	$ 0	$ 0
Gross unrealized losses, less than 12 months	$ 0	$ 0
Number of issues, more than 12 months | issue	0	0
Fair value, 12 months or longer	$ 0	$ 0
Gross unrealized losses, 12 months or longer	$ 0	$ 0

Bank segment (HEI only) - Inves

Bank segment (HEI only) - Investment Securities (Details) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Available-for-sale
Due in one year or less			$ 1,193
Due after one year through five years			106,628
Due after five years through ten years			39,802
Due after ten years			0
Total			147,623
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies			1,530,582
Amortized cost			1,678,205
Held-to-maturity
Due in one year or less			0
Due after one year through five years			0
Due after five years through ten years			59,894
Due after ten years			0
Total			59,894
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies			1,191,853
Amortized cost		$ 522,270	1,251,747	$ 522,270
Available-for-sale
Due in one year or less			1,171
Due after one year through five years			98,871
Due after five years through ten years			36,657
Due after ten years			0
Total			136,699
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies			1,292,968
Total available-for-sale securities		2,574,618	1,429,667	2,574,618
Held-to-maturity
Due in one year or less			0
Due after one year through five years			0
Due after five years through ten years			51,416
Due after ten years			0
Total			51,416
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies			1,099,555
Total held-to-maturity securities			1,150,971
Gains (losses) from sales of available-for-sale investments
Proceeds			0	197,354	$ 169,157
Gross gains			0	975	9,275
Gross losses			0	(447)	0
Tax expense on realized gains		142	0		2,486
Interest income from taxable and non-taxable investment securities
Taxable			56,731	42,534	29,760
Non-taxable			1,313	930	769
Total			58,044	43,464	$ 30,529
Available-for-sale securities pledged at carrying value		416,000	929,000	416,000
Available-for-sale securities, pledged at carrying value as collateral for securities sold under agreements to repurchase		161,000	327,000	161,000
Stock in federal home loan bank at cost		10,000	26,560	10,000
American Savings Bank (ASB)
Available-for-sale
Amortized cost		2,618,384	1,678,205	2,618,384
Held-to-maturity
Amortized cost		522,270	1,251,747	522,270
Available-for-sale
Total available-for-sale securities		2,574,618	1,429,667	2,574,618
Held-to-maturity
Total held-to-maturity securities		510,474	1,150,971	510,474
Interest income from taxable and non-taxable investment securities
Number of available-for-sale investment securities transferred | security	66
Available-for-sale and held-to-maturity, fair value	$ 755,000
Gross realized losses on available-for-sale securities	$ 206,000
Stock in federal home loan bank at cost		10,000	26,560	10,000
FHLB Des Moines
Interest income from taxable and non-taxable investment securities
Stock in federal home loan bank at cost		$ 10,000	$ 26,600	$ 10,000

Bank segment (HEI only) - Loans

Bank segment (HEI only) - Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Loans receivable
Total	$ 6,005,021	$ 5,221,204
Less: Deferred fees and discounts	(26,115)	(10,090)
Allowance for credit losses	(72,216)	(71,130)	$ (101,201)	$ (53,355)
Total loans, net	5,906,690	5,139,984
Real estate loans
Loans receivable
Total	4,970,621	4,313,934
Residential 1-4 family
Loans receivable
Total	2,479,637	2,299,212
Commercial real estate
Loans receivable
Total	1,358,123	1,056,982
Home equity line of credit
Loans receivable
Total	1,002,905	835,663
Residential land
Loans receivable
Total	20,679	19,859
Commercial construction
Loans receivable
Total	88,489	91,080
Residential construction
Loans receivable
Total	20,788	11,138
Commercial
Loans receivable
Total	779,691	793,304
Consumer
Loans receivable
Total	$ 254,709	$ 113,966

Bank segment (HEI only) - Loa_2

Bank segment (HEI only) - Loans Receivable, Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Nonaccrual [Line Items]
Percentage of benchmark loan to appraisal ratio in excess of which mortgage insurance is required	80%
Minimum benchmark percentage of loan to non-owner occupied residential property purchase	75%
Real estate loans for investors	$ 1,500	$ 1,500	$ 1,500
Loans to directors, executive directors, affiliates and any related interest of such individuals	10.7	13.1
Loan balances, related interests of individuals who are directors	10	10
Asset Pledged as Collateral with Right
Financing Receivable, Nonaccrual [Line Items]
Loans and leases receivable before fees, gross	$ 3,000	$ 2,800

Bank segment (HEI only) - Allow

Bank segment (HEI only) - Allowance For Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for credit losses:
Beginning balance	$ 71,130	$ 101,201	$ 53,355
Charge-offs	(6,830)	(9,700)	(26,154)
Recoveries	5,379	6,054	4,748
Net (charge-offs) recoveries	(1,451)	(3,646)	(21,406)
Provision for credit losses	2,537	(26,425)	49,811
Ending balance	72,216	71,130	101,201	$ 53,355
Average loans outstanding	$ 5,456,952	$ 5,220,491	$ 5,340,287
Net charge-offs (recoveries) to average loans	0.03%	0.07%	0.40%
Accounting standards update, extensible enumeration				Accounting Standards Update 2016-13 [Member]
Commercial
Allowance for credit losses:
Beginning balance	$ 15,798	$ 25,462	$ 10,245
Charge-offs	(563)	(1,561)	(5,819)
Recoveries	1,288	1,468	872
Net (charge-offs) recoveries	725	(93)	(4,947)
Provision for credit losses	(4,097)	(9,571)	19,242
Ending balance	12,426	15,798	25,462	$ 10,245
Average loans outstanding	$ 710,658	$ 856,226	$ 935,663
Net charge-offs (recoveries) to average loans	(0.10%)	0.01%	0.53%
Consumer
Allowance for credit losses:
Beginning balance	$ 15,584	$ 23,950	$ 16,206
Charge-offs	(6,254)	(8,027)	(19,900)
Recoveries	3,837	4,320	3,381
Net (charge-offs) recoveries	(2,417)	(3,707)	(16,519)
Provision for credit losses	10,372	(4,659)	7,800
Ending balance	23,539	15,584	23,950	16,206
Average loans outstanding	$ 161,722	$ 135,609	$ 215,994
Net charge-offs (recoveries) to average loans	1.49%	2.73%	7.65%
Impact of adoption of ASU No. 2016-13
Allowance for credit losses:
Beginning balance		$ 19,441
Ending balance			$ 19,441
Impact of adoption of ASU No. 2016-13 | Commercial
Allowance for credit losses:
Beginning balance		922
Ending balance			922
Impact of adoption of ASU No. 2016-13 | Consumer
Allowance for credit losses:
Beginning balance		16,463
Ending balance			16,463
Residential 1-4 family | Real estate
Allowance for credit losses:
Beginning balance	$ 6,545	4,600	2,380
Charge-offs	(13)	(67)	(7)
Recoveries	79	92	394
Net (charge-offs) recoveries	66	25	387
Provision for credit losses	(341)	1,920	(317)
Ending balance	6,270	6,545	4,600	2,380
Average loans outstanding	$ 2,331,473	$ 2,155,322	$ 2,148,848
Net charge-offs (recoveries) to average loans	0%	0%	(0.02%)
Residential 1-4 family | Impact of adoption of ASU No. 2016-13 | Real estate
Allowance for credit losses:
Beginning balance		$ 2,150
Ending balance			$ 2,150
Commercial real estate | Real estate
Allowance for credit losses:
Beginning balance	$ 24,696	35,607	15,053
Charge-offs	0	0	0
Recoveries	0	0	0
Net (charge-offs) recoveries	0	0	0
Provision for credit losses	(2,798)	(10,911)	20,346
Ending balance	21,898	24,696	35,607	15,053
Average loans outstanding	$ 1,204,756	$ 1,046,276	$ 861,096
Net charge-offs (recoveries) to average loans	0%	0%	0%
Commercial real estate | Impact of adoption of ASU No. 2016-13 | Real estate
Allowance for credit losses:
Beginning balance		$ 208
Ending balance			$ 208
Home equity line of credit | Real estate
Allowance for credit losses:
Beginning balance	$ 5,657	6,813	6,922
Charge-offs	0	(45)	(77)
Recoveries	71	113	63
Net (charge-offs) recoveries	71	68	(14)
Provision for credit losses	397	(1,224)	446
Ending balance	6,125	5,657	6,813	6,922
Average loans outstanding	$ 918,563	$ 885,759	$ 1,060,444
Net charge-offs (recoveries) to average loans	(0.01%)	(0.01%)	0%
Home equity line of credit | Impact of adoption of ASU No. 2016-13 | Real estate
Allowance for credit losses:
Beginning balance		$ (541)
Ending balance			$ (541)
Residential land | Real estate
Allowance for credit losses:
Beginning balance	$ 646	609	449
Charge-offs	0	0	(351)
Recoveries	104	61	38
Net (charge-offs) recoveries	104	61	(313)
Provision for credit losses	(33)	(24)	537
Ending balance	717	646	609	449
Average loans outstanding	$ 21,442	$ 18,227	$ 13,799
Net charge-offs (recoveries) to average loans	(0.49%)	(0.33%)	2.27%
Residential land | Impact of adoption of ASU No. 2016-13 | Real estate
Allowance for credit losses:
Beginning balance		$ (64)
Ending balance			$ (64)
Commercial construction | Real estate
Allowance for credit losses:
Beginning balance	$ 2,186	4,149	2,097
Charge-offs	0	0	0
Recoveries	0	0	0
Net (charge-offs) recoveries	0	0	0
Provision for credit losses	(991)	(1,963)	1,763
Ending balance	1,195	2,186	4,149	2,097
Average loans outstanding	$ 90,021	$ 111,711	$ 93,740
Net charge-offs (recoveries) to average loans	0%	0%	0%
Commercial construction | Impact of adoption of ASU No. 2016-13 | Real estate
Allowance for credit losses:
Beginning balance		$ 289
Ending balance			$ 289
Residential construction | Real estate
Allowance for credit losses:
Beginning balance	$ 18	11	3
Charge-offs	0	0	0
Recoveries	0	0	0
Net (charge-offs) recoveries	0	0	0
Provision for credit losses	28	7	(6)
Ending balance	46	18	11	$ 3
Average loans outstanding	$ 18,317	$ 11,361	$ 10,703
Net charge-offs (recoveries) to average loans	0%	0%	0%
Residential construction | Impact of adoption of ASU No. 2016-13 | Real estate
Allowance for credit losses:
Beginning balance		$ 14
Ending balance			$ 14

Bank segment (HEI only) - All_2

Bank segment (HEI only) - Allowance for Loan Commitments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for loan commitments:
Beginning balance	$ 4,900	$ 4,300	$ 1,741
Provision	(500)	600	1,000
Ending balance	4,400	4,900	4,300	$ 1,741
Accounting standards update, extensible enumeration				Accounting Standards Update 2016-13 [Member]
Impact of adoption of ASU No. 2016-13
Allowance for loan commitments:
Beginning balance			1,559
Ending balance				$ 1,559
Real estate | Home equity  line of credit
Allowance for loan commitments:
Beginning balance	400	300	392
Provision	0	100	0
Ending balance	400	400	300	392
Real estate | Home equity  line of credit | Impact of adoption of ASU No. 2016-13
Allowance for loan commitments:
Beginning balance			(92)
Ending balance				(92)
Real estate | Commercial construction
Allowance for loan commitments:
Beginning balance	3,700	3,000	931
Provision	(1,100)	700	324
Ending balance	2,600	3,700	3,000	931
Real estate | Commercial construction | Impact of adoption of ASU No. 2016-13
Allowance for loan commitments:
Beginning balance			1,745
Ending balance				1,745
Commercial
Allowance for loan commitments:
Beginning balance	800	1,000	418
Provision	600	(200)	676
Ending balance	$ 1,400	$ 800	1,000	418
Commercial | Impact of adoption of ASU No. 2016-13
Allowance for loan commitments:
Beginning balance			$ (94)
Ending balance				$ (94)

Bank segment (HEI only) - Credi

Bank segment (HEI only) - Credit Risk Profile by Internally Assigned Grade for Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Credit risk profile by internally assigned grade for loans
Current year	$ 1,296,473	$ 1,325,112
One year prior of origination year	1,220,751	934,584
Two years prior of origination year	808,953	367,452
Three years prior of origination year	296,592	236,305
Four years prior of origination year	164,815	217,965
More than five years prior of origination year	1,077,705	1,119,478
Revolving loans	1,077,634	958,710
Converted to term loans	62,098	61,598
Total	6,005,021	5,221,204
30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	5,959	5,703
60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	2,343	2,749
Greater than 90 days
Credit risk profile by internally assigned grade for loans
Total	5,624	8,792
Consumer
Credit risk profile by internally assigned grade for loans
Current year	202,061	37,838
One year prior of origination year	21,885	15,889
Two years prior of origination year	5,733	30,679
Three years prior of origination year	8,132	11,506
Four years prior of origination year	604	352
More than five years prior of origination year	140	238
Revolving loans	10,956	13,044
Converted to term loans	5,198	4,420
Total	254,709	113,966
Conversion of debt	3,500
Consumer | Current
Credit risk profile by internally assigned grade for loans
Current year	199,574	37,563
One year prior of origination year	21,330	15,488
Two years prior of origination year	5,543	29,383
Three years prior of origination year	7,580	10,897
Four years prior of origination year	527	302
More than five years prior of origination year	140	238
Revolving loans	10,810	12,740
Converted to term loans	4,782	4,157
Total	250,286	110,768
Consumer | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	1,110	202
One year prior of origination year	287	181
Two years prior of origination year	65	517
Three years prior of origination year	239	234
Four years prior of origination year	30	15
More than five years prior of origination year	0	0
Revolving loans	81	156
Converted to term loans	167	70
Total	1,979	1,375
Consumer | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	756	59
One year prior of origination year	163	127
Two years prior of origination year	88	392
Three years prior of origination year	137	183
Four years prior of origination year	19	8
More than five years prior of origination year	0	0
Revolving loans	45	7
Converted to term loans	107	106
Total	1,315	882
Consumer | Greater than 90 days
Credit risk profile by internally assigned grade for loans
Current year	621	14
One year prior of origination year	105	93
Two years prior of origination year	37	387
Three years prior of origination year	176	192
Four years prior of origination year	28	27
More than five years prior of origination year	0	0
Revolving loans	20	141
Converted to term loans	142	87
Total	1,129	941
Commercial
Credit risk profile by internally assigned grade for loans
Current year	243,174	266,554
One year prior of origination year	187,318	124,483
Two years prior of origination year	85,621	93,137
Three years prior of origination year	71,839	58,476
Four years prior of origination year	47,488	35,915
More than five years prior of origination year	57,686	78,497
Revolving loans	71,540	119,059
Converted to term loans	15,025	17,183
Total	779,691	793,304
Conversion of debt	1,900
Commercial | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	614	700
Commercial | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	18	313
Commercial | Greater than 90 days
Credit risk profile by internally assigned grade for loans
Total	77	48
Pass | Commercial
Credit risk profile by internally assigned grade for loans
Current year	239,852	266,087
One year prior of origination year	185,013	96,963
Two years prior of origination year	85,220	79,329
Three years prior of origination year	68,161	56,497
Four years prior of origination year	46,142	31,019
More than five years prior of origination year	53,192	66,570
Revolving loans	60,871	96,673
Converted to term loans	13,964	15,510
Total	752,415	708,648
Special Mention | Commercial
Credit risk profile by internally assigned grade for loans
Current year	0	40
One year prior of origination year	0	27,336
Two years prior of origination year	0	10,071
Three years prior of origination year	2,374	202
Four years prior of origination year	0	439
More than five years prior of origination year	645	8,966
Revolving loans	9,005	15,303
Converted to term loans	8	18
Total	12,032	62,375
Substandard | Commercial
Credit risk profile by internally assigned grade for loans
Current year	3,322	427
One year prior of origination year	2,305	184
Two years prior of origination year	401	3,737
Three years prior of origination year	1,304	1,777
Four years prior of origination year	1,346	4,457
More than five years prior of origination year	3,849	2,961
Revolving loans	1,664	7,083
Converted to term loans	1,053	1,655
Total	15,244	22,281
Doubtful | Commercial
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	0	0
Residential 1-4 family | Real estate
Credit risk profile by internally assigned grade for loans
Current year	432,707	791,758
One year prior of origination year	755,056	461,683
Two years prior of origination year	423,723	136,332
Three years prior of origination year	113,096	65,230
Four years prior of origination year	53,117	124,994
More than five years prior of origination year	701,938	719,215
Revolving loans	0	0
Converted to term loans	0	0
Total	2,479,637	2,299,212
Residential 1-4 family | Real estate | Current
Credit risk profile by internally assigned grade for loans
Current year	432,707	791,758
One year prior of origination year	755,056	461,683
Two years prior of origination year	423,455	133,345
Three years prior of origination year	113,096	64,421
Four years prior of origination year	51,860	124,994
More than five years prior of origination year	698,354	712,452
Revolving loans	0	0
Converted to term loans	0	0
Total	2,474,528	2,288,653
Residential 1-4 family | Real estate | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	809
Four years prior of origination year	448	0
More than five years prior of origination year	1,098	2,210
Revolving loans	0	0
Converted to term loans	0	0
Total	1,546	3,019
Residential 1-4 family | Real estate | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	268	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	90	1,468
Revolving loans	0	0
Converted to term loans	0	0
Total	358	1,468
Residential 1-4 family | Real estate | Greater than 90 days
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	2,987
Three years prior of origination year	0	0
Four years prior of origination year	809	0
More than five years prior of origination year	2,396	3,085
Revolving loans	0	0
Converted to term loans	0	0
Total	3,205	6,072
Home equity  line of credit
Credit risk profile by internally assigned grade for loans
Conversion of debt	15,600
Home equity  line of credit | Real estate
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	961,030	795,668
Converted to term loans	41,875	39,995
Total	1,002,905	835,663
Home equity  line of credit | Real estate | Current
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	959,131	794,518
Converted to term loans	40,814	39,116
Total	999,945	833,634
Home equity  line of credit | Real estate | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	1,103	296
Converted to term loans	209	313
Total	1,312	609
Home equity  line of credit | Real estate | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	209	16
Converted to term loans	226	70
Total	435	86
Home equity  line of credit | Real estate | Greater than 90 days
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	587	838
Converted to term loans	626	496
Total	1,213	1,334
Residential land | Real estate
Credit risk profile by internally assigned grade for loans
Current year	5,245	10,572
One year prior of origination year	9,010	6,794
Two years prior of origination year	5,222	1,116
Three years prior of origination year	203	532
Four years prior of origination year	522	267
More than five years prior of origination year	477	578
Revolving loans	0	0
Converted to term loans	0	0
Total	20,679	19,859
Residential land | Real estate | Current
Credit risk profile by internally assigned grade for loans
Current year	5,245	10,572
One year prior of origination year	9,010	6,794
Two years prior of origination year	5,222	1,116
Three years prior of origination year	203	532
Four years prior of origination year	522	267
More than five years prior of origination year	477	181
Revolving loans	0	0
Converted to term loans	0	0
Total	20,679	19,462
Residential land | Real estate | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	0	0
Residential land | Real estate | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	0	0
Residential land | Real estate | Greater than 90 days
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	397
Revolving loans	0	0
Converted to term loans	0	0
Total	0	397
Residential construction | Real estate
Credit risk profile by internally assigned grade for loans
Current year	7,986	7,856
One year prior of origination year	11,624	3,019
Two years prior of origination year	1,178	0
Three years prior of origination year	0	0
Four years prior of origination year	0	263
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	20,788	11,138
Residential construction | Real estate | Current
Credit risk profile by internally assigned grade for loans
Current year	7,986	7,856
One year prior of origination year	11,624	3,019
Two years prior of origination year	1,178	0
Three years prior of origination year	0	0
Four years prior of origination year	0	263
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	20,788	11,138
Residential construction | Real estate | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	0	0
Residential construction | Real estate | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	0	0
Residential construction | Real estate | Greater than 90 days
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	0	0
Commercial real estate | Real estate
Credit risk profile by internally assigned grade for loans
Current year	390,206	193,394
One year prior of origination year	188,380	279,455
Two years prior of origination year	287,432	106,188
Three years prior of origination year	103,322	89,219
Four years prior of origination year	63,084	56,174
More than five years prior of origination year	317,464	320,950
Revolving loans	8,235	11,602
Converted to term loans	0	0
Total	1,358,123	1,056,982
Commercial real estate | Real estate | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	508	0
Commercial real estate | Real estate | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	217	0
Commercial real estate | Real estate | Greater than 90 days
Credit risk profile by internally assigned grade for loans
Total	0	0
Commercial real estate | Pass | Real estate
Credit risk profile by internally assigned grade for loans
Current year	390,206	173,794
One year prior of origination year	177,130	275,242
Two years prior of origination year	283,321	49,317
Three years prior of origination year	51,542	56,490
Four years prior of origination year	63,084	33,581
More than five years prior of origination year	278,280	259,583
Revolving loans	8,235	11,602
Converted to term loans	0	0
Total	1,251,798	859,609
Commercial real estate | Special Mention | Real estate
Credit risk profile by internally assigned grade for loans
Current year	0	19,600
One year prior of origination year	11,250	3,529
Two years prior of origination year	3,446	42,935
Three years prior of origination year	40,423	30,870
Four years prior of origination year	0	20,788
More than five years prior of origination year	24,466	32,824
Revolving loans	0	0
Converted to term loans	0	0
Total	79,585	150,546
Commercial real estate | Substandard | Real estate
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	684
Two years prior of origination year	665	13,936
Three years prior of origination year	11,357	1,859
Four years prior of origination year	0	1,805
More than five years prior of origination year	14,718	28,543
Revolving loans	0	0
Converted to term loans	0	0
Total	26,740	46,827
Commercial real estate | Doubtful | Real estate
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	0	0
Commercial construction | Real estate
Credit risk profile by internally assigned grade for loans
Current year	15,094	17,140
One year prior of origination year	47,478	43,261
Two years prior of origination year	44	0
Three years prior of origination year	0	11,342
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	25,873	19,337
Converted to term loans	0	0
Total	88,489	91,080
Commercial construction | Real estate | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	0	0
Commercial construction | Real estate | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	0	0
Commercial construction | Real estate | Greater than 90 days
Credit risk profile by internally assigned grade for loans
Total	0	0
Commercial construction | Pass | Real estate
Credit risk profile by internally assigned grade for loans
Current year	15,094	17,140
One year prior of origination year	47,478	43,261
Two years prior of origination year	44	0
Three years prior of origination year	0	11,342
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	25,873	19,337
Converted to term loans	0	0
Total	88,489	91,080
Commercial construction | Special Mention | Real estate
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	0	0
Commercial construction | Substandard | Real estate
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	0	0
Commercial construction | Doubtful | Real estate
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year prior of origination year	0	0
Two years prior of origination year	0	0
Three years prior of origination year	0	0
Four years prior of origination year	0	0
More than five years prior of origination year	0	0
Revolving loans	0	0
Converted to term loans	0	0
Total	$ 0	$ 0

Bank segment (HEI only) - Cre_2

Bank segment (HEI only) - Credit Risk Profile Based on Payment Activity for Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Credit risk profile based on payment activity for loans
Total financing receivables	$ 6,005,021	$ 5,221,204
Recorded investment> 90 days and accruing	0	0
Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	779,691	793,304
Recorded investment> 90 days and accruing	0	0
Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	254,709	113,966
Recorded investment> 90 days and accruing	0	0
Residential 1-4 family | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	2,479,637	2,299,212
Recorded investment> 90 days and accruing	0	0
Commercial real estate | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,358,123	1,056,982
Recorded investment> 90 days and accruing	0	0
Home equity  line of credit | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,002,905	835,663
Recorded investment> 90 days and accruing	0	0
Residential land | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	20,679	19,859
Recorded investment> 90 days and accruing	0	0
Commercial construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	88,489	91,080
Recorded investment> 90 days and accruing	0	0
Residential construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	20,788	11,138
Recorded investment> 90 days and accruing	0	0
30-59 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	5,959	5,703
30-59 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	614	700
30-59 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	1,979	1,375
30-59 days past due | Residential 1-4 family | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,546	3,019
30-59 days past due | Commercial real estate | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	508	0
30-59 days past due | Home equity  line of credit | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,312	609
30-59 days past due | Residential land | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Commercial construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Residential construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	2,343	2,749
60-89 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	18	313
60-89 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	1,315	882
60-89 days past due | Residential 1-4 family | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	358	1,468
60-89 days past due | Commercial real estate | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	217	0
60-89 days past due | Home equity  line of credit | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	435	86
60-89 days past due | Residential land | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Commercial construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Residential construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days
Credit risk profile based on payment activity for loans
Total financing receivables	5,624	8,792
Greater than 90 days | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	77	48
Greater than 90 days | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	1,129	941
Greater than 90 days | Residential 1-4 family | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	3,205	6,072
Greater than 90 days | Commercial real estate | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Home equity  line of credit | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,213	1,334
Greater than 90 days | Residential land | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	397
Greater than 90 days | Commercial construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Residential construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due
Credit risk profile based on payment activity for loans
Total financing receivables	13,926	17,244
Total past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	709	1,061
Total past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	4,423	3,198
Total past due | Residential 1-4 family | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	5,109	10,559
Total past due | Commercial real estate | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	725	0
Total past due | Home equity  line of credit | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	2,960	2,029
Total past due | Residential land | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	397
Total past due | Commercial construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Residential construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Current
Credit risk profile based on payment activity for loans
Total financing receivables	5,991,095	5,203,960
Current | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	778,982	792,243
Current | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	250,286	110,768
Current | Residential 1-4 family | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	2,474,528	2,288,653
Current | Commercial real estate | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,357,398	1,056,982
Current | Home equity  line of credit | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	999,945	833,634
Current | Residential land | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	20,679	19,462
Current | Commercial construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	88,489	91,080
Current | Residential construction | Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	$ 20,788	$ 11,138

Bank segment (HEI only) - Cre_3

Bank segment (HEI only) - Credit Risk Profile - Nonaccrual Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Credit risk profile based on nonaccrual loans
With a related ACL	$ 12,043	$ 37,764
Without a related ACL	4,423	7,210
Total	16,466	44,974
Total troubled debt restructured loans accruing interest	30,130	24,917
Commercial
Credit risk profile based on nonaccrual loans
With a related ACL	2,183	1,446
Without a related ACL	0	692
Total	2,183	2,138
Total troubled debt restructured loans accruing interest	6,596	7,860
Consumer
Credit risk profile based on nonaccrual loans
With a related ACL	1,588	1,845
Without a related ACL	0	0
Total	1,588	1,845
Total troubled debt restructured loans accruing interest	50	52
Residential 1-4 family | Real estate
Credit risk profile based on nonaccrual loans
With a related ACL	4,198	16,045
Without a related ACL	2,981	3,703
Total	7,179	19,748
Total troubled debt restructured loans accruing interest	8,821	6,949
Commercial real estate | 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 restructured loans accruing interest	9,477	3,055
Home equity  line of credit | Real estate
Credit risk profile based on nonaccrual loans
With a related ACL	3,654	4,227
Without a related ACL	1,442	1,294
Total	5,096	5,521
Total troubled debt restructured loans accruing interest	4,404	6,021
Residential land | Real estate
Credit risk profile based on nonaccrual loans
With a related ACL	420	97
Without a related ACL	0	300
Total	420	397
Total troubled debt restructured loans accruing interest	782	980
Commercial construction | Real estate
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 restructured loans accruing interest	0	0
Residential construction | Real estate
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 restructured loans accruing interest	$ 0	$ 0

Bank segment (HEI only) - TDR N

Bank segment (HEI only) - TDR Narrative (Details)	12 Months Ended
	Dec. 31, 2022
Residential land
Troubled debt restructurings
Period of interest-only monthly payment term loan	3 years

Bank segment (HEI only) - Loan

Bank segment (HEI only) - Loan Modifications (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract	Dec. 31, 2020 USD ($) contract
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	9	24	68
Outstanding recorded investment	$ 4,312,000	$ 12,109,000	$ 26,991,000
Related allowance	$ 703,000	$ 685,000	$ 5,379,000
Number of  contracts | contract	0	2	0
Recorded investment	$ 0	$ 483,000	$ 0
Commitments to borrowers whose loan terms are impaired or modified under troubled debt restructuring	$ 0	$ 0
Residential 1-4 family
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	5	14	1
Outstanding recorded investment	$ 1,475,000	$ 8,379,000	$ 144,000
Related allowance	$ 164,000	$ 442,000	$ 6,000
Number of  contracts | contract	0	1	0
Recorded investment	$ 0	$ 474,000	$ 0
Commercial real estate
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0	6
Outstanding recorded investment	$ 0	$ 0	$ 20,714,000
Related allowance	$ 0	$ 0	$ 4,439,000
Number of  contracts | contract	0	0	0
Recorded investment	$ 0	$ 0	$ 0
Home equity line of credit
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0	3
Outstanding recorded investment	$ 0	$ 0	$ 85,000
Related allowance	$ 0	$ 0	$ 11,000
Number of  contracts | contract	0	0	0
Recorded investment	$ 0	$ 0	$ 0
Residential land
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	1	3	4
Outstanding recorded investment	$ 203,000	$ 799,000	$ 668,000
Related allowance	$ 42,000	$ 38,000	$ 54,000
Number of  contracts | contract	0	0	0
Recorded investment	$ 0	$ 0	$ 0
Commercial construction
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0
Number of  contracts | contract	0	0	0
Recorded investment	$ 0	$ 0	$ 0
Residential construction
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0
Number of  contracts | contract	0	0	0
Recorded investment	$ 0	$ 0	$ 0
Commercial
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	3	7	54
Outstanding recorded investment	$ 2,634,000	$ 2,931,000	$ 5,380,000
Related allowance	$ 497,000	$ 205,000	$ 869,000
Number of  contracts | contract	0	1	0
Recorded investment	$ 0	$ 9,000	$ 0
Consumer
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0
Number of  contracts | contract	0	0	0
Recorded investment	$ 0	$ 0	$ 0
Troubled debt restructurings real estate loans
Loan modifications determined to be troubled debt restructurings
Minimum period of payment default of loans determined to be TDRs	90 days	90 days	90 days

Bank segment (HEI only) - Colla

Bank segment (HEI only) - Collateral-Dependent Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Nonaccrual [Line Items]
Consumer mortgage loans collateralized by residential real estate property in foreclosure process	$ 4,200	$ 3,400
Residential real estate property | Real estate | Residential 1-4 family
Financing Receivable, Nonaccrual [Line Items]
Amortized cost	3,959	3,493
Residential real estate property | Real estate | Home equity  line of credit
Financing Receivable, Nonaccrual [Line Items]
Amortized cost	1,425	1,294
Residential real estate property | Real estate | Residential land
Financing Receivable, Nonaccrual [Line Items]
Amortized cost	0	300
Commercial real estate | Real estate | Commercial real estate
Financing Receivable, Nonaccrual [Line Items]
Amortized cost	0	1,221
Business Assets | Commercial
Financing Receivable, Nonaccrual [Line Items]
Amortized cost	0	692
Collateral Pledged
Financing Receivable, Nonaccrual [Line Items]
Amortized cost	5,384	7,000
Collateral Pledged | Real estate
Financing Receivable, Nonaccrual [Line Items]
Amortized cost	$ 5,384	$ 6,308

Bank segment (HEI only) - Mortg

Bank segment (HEI only) - Mortgage Servicing Rights, Narrative (Details) - American Savings Bank (ASB) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($) loan	Dec. 31, 2020 USD ($) loan
Loans receivable
Number of mortgage loans repurchased | loan	1	0	0
Mortgage loans repurchase reserve	$ 0.1	$ 0.1
Mortgage servicing fees	3.7	3.8	$ 3.4
Residential Mortgage
Loans receivable
Proceeds from sale of residential loans	136.5	364.8	567.7
Gain on sale of mortgage loans	$ 1.7	$ 9.3	$ 23.7

Bank segment (HEI only) - Mor_2

Bank segment (HEI only) - Mortgage Servicing Rights (Details) - American Savings Bank (ASB) - Allowance for mortgage-servicing assets – bank - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Loans receivable
Gross carrying amount	$ 19,544	$ 18,674
Accumulated amortization	(10,497)	(8,724)
Valuation allowance	0	0	$ (260)	$ 0
Net carrying amount	$ 9,047	$ 9,950	$ 10,020

Bank segment (HEI only) - Mor_3

Bank segment (HEI only) - Mortgage Servicing Rights and Valuation Allowance Roll Forward (Details) - American Savings Bank (ASB) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Mortgage servicing rights
Beginning balance	$ 9,950
Ending balance	9,047	$ 9,950
Allowance for mortgage-servicing assets – bank
Mortgage servicing rights
Beginning balance	9,950	10,280	$ 9,101
Amount capitalized	1,130	3,404	5,096
Amortization	(2,033)	(3,734)	(3,917)
Sale of mortgage servicing rights	0	0	0
Other-than-temporary impairment	0	0	0
Ending balance	9,047	9,950	10,280
Valuation allowance for mortgage servicing rights
Beginning balance	0	260	0
Provision	0	(260)	260
Other-than-temporary impairment	0	0	0
Ending balance	0	0	260
Net carrying amount	9,047	$ 9,950	$ 10,020
Estimated Aggregate Amortization Expenses of Mortgage Servicing Rights
2023	1,200
2024	1,100
2025	1,000
2026	900
2027	$ 800

Bank segment (HEI only) - Key A

Bank segment (HEI only) - Key Assumptions Used in Estimating the Fair Value of ASB's Mortgage Servicing Rights (Details) - Allowance for mortgage-servicing assets – bank $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Prepayment rate:
25 basis points adverse rate change	$ (92)	$ (714)
50 basis points adverse rate change	(214)	(1,608)
Discount rate:
25 basis points adverse rate change	(182)	(129)
50 basis points adverse rate change	(361)	(256)
American Savings Bank (ASB)
Mortgage Servicing Rights
Unpaid principal balance	$ 1,451,322	$ 1,481,899
Weighted average note rate	3.38%	3.38%
American Savings Bank (ASB) | Weighted average discount rate
Mortgage Servicing Rights
Weighted average measurement input	0.1000	0.0925
American Savings Bank (ASB) | Weighted average prepayment speed
Mortgage Servicing Rights
Weighted average measurement input	0.0656	0.0977

Bank segment (HEI only) - Depos

Bank segment (HEI only) - Deposit Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Weighted-average stated rate
Savings	0.03%	0.03%
Checking, interest-bearing	0.17%	0.02%
Checking, noninterest-bearing	0%	0%
Commercial checking	0%	0%
Money market	0.82%	0.06%
Time certificates	2.39%	0.67%
Weighted-average stated rate	0.24%	0.05%
Deposit liabilities
Savings	$ 3,198,329	$ 3,234,646
Checking
Interest-bearing	1,359,519	1,344,049
Noninterest-bearing	1,453,937	1,472,727
Commercial checking	1,357,140	1,503,905
Money market	189,053	192,909
Time certificates	611,718	423,976
Amount	8,169,696	8,172,212
Certificate accounts of $250,000 or more	346,900	87,600
Term certificates outstanding, scheduled maturities
2023	495,577
2024	59,493
2025	34,360
2026	11,224
2027	8,327
Thereafter	2,737
Total	611,718
Overdrawn deposit accounts classified as loans	1,500	1,300
Interest expense on deposit liabilities by type of deposit
Time certificates	5,372	3,805	$ 7,944
Savings	860	802	1,774
Money market	330	132	465
Interest-bearing checking	765	242	471
Interest expense on deposit liabilities	$ 7,327	$ 4,981	$ 10,654

Bank segment (HEI only) - Secur

Bank segment (HEI only) - Securities Sold Under Agreements to Repurchase, Including Related Collateral Received From or Pledged to Counterparties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Securities sold under agreements to repurchase
Gross amount of recognized liabilities	$ 281,000	$ 88,000
Gross amount  offset in the  Balance Sheets	0	0
Net amount of  liabilities presented in the Balance Sheets	$ 281,000	88,000
Fair value of collateral, percent of fair value	5%
Repurchase liability	$ 281,120	$ 88,305
Weighted-average interest rate as of end of the period	3.02%	0.02%
Identical securities
Securities sold under agreements to repurchase
Repurchase liability	$ 281,120	$ 88,305	$ 89,670
Average amount outstanding during the year	127,170	88,405	73,738
Maximum amount outstanding as of any month-end	$ 284,040	$ 129,665	$ 100,580
Weighted-average interest rate as of end of the period	3.02%	0.02%	0.02%
Weighted-average interest rate during the year	0.99%	0.02%	0.42%
Weighted-average remaining days to maturity as of end of the period	1 day	1 day	1 day
Commercial account holders
Securities sold under agreements to repurchase
Net amount of  liabilities presented in the Balance Sheets	$ 281,000	$ 88,000
Financial instruments	327,000	161,000
Cash collateral pledged	$ 0	$ 0

Bank segment (HEI only) - Sec_2

Bank segment (HEI only) - Securities Sold Under Agreements to Repurchase (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Securities sold under agreements to repurchase
Repurchase liability	$ 281,120	$ 88,305
Weighted-average interest rate	3.02%	0.02%
Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest
Securities sold under agreements to repurchase
Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest	$ 326,841	$ 160,847
Overnight
Securities sold under agreements to repurchase
Repurchase liability	$ 281,120	$ 88,305
Weighted-average interest rate	3.02%	0.02%
Overnight | Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest
Securities sold under agreements to repurchase
Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest	$ 326,841	$ 160,847
1 to 29 days
Securities sold under agreements to repurchase
Repurchase liability	$ 0	$ 0
Weighted-average interest rate	0%	0%
1 to 29 days | Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest
Securities sold under agreements to repurchase
Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest	$ 0	$ 0
30 to 90 days
Securities sold under agreements to repurchase
Repurchase liability	$ 0	$ 0
Weighted-average interest rate	0%	0%
30 to 90 days | Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest
Securities sold under agreements to repurchase
Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest	$ 0	$ 0
Over 90 days
Securities sold under agreements to repurchase
Repurchase liability	$ 0	$ 0
Weighted-average interest rate	0%	0%
Over 90 days | Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest
Securities sold under agreements to repurchase
Collateralized by mortgage-backed securities and federal agency obligations at fair value plus accrued interest	$ 0	$ 0

Bank segment (HEI only) - FHLB

Bank segment (HEI only) - FHLB Advances (Details) - American Savings Bank (ASB) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
FHLB advances	$ 414,000,000	$ 0
FHLB advances, unused funds	$ 1,600,000,000	$ 2,000,000,000

Bank segment (HEI only) - Addit

Bank segment (HEI only) - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 1988
Hawaiian Electric (parent only)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash dividends paid	$ 168	$ 172	$ 145
Hawaiian Electric (parent only) | Consolidated subsidiary | American Savings Bank (ASB) | Management and administrative services
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Revenue from related party	1.9	2.1	$ 2.3
Hawaiian Electric (parent only) | Maximum
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Obligation to contribute additional capital under the Capital Maintenance Agreement				$ 65.1
Reduction in obligation to contribute additional capital under the capital maintenance agreement	28.3
American Savings Bank (ASB)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash dividends paid	$ 42	$ 59

Bank segment (HEI only) - Capit

Bank segment (HEI only) - Capital And Ratio (Details) - American Savings Bank (ASB) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 leverage, actual capital	$ 750,851	$ 714,789
Tier 1 leverage, actual ratio	0.0778	0.0786
Tier 1 leverage, required capital	$ 386,265	$ 363,630
Tier 1 leverage, required ratio	0.0400	0.0400
Tier 1 leverage, required to be well capitalized capital	$ 482,831	$ 454,538
Tier 1 leverage, required to be well capitalized ratio	0.0500	0.0500
Common equity tier 1, actual capital	$ 750,851	$ 714,789
Common equity tier 1, actual ratio	12.15%	13.29%
Common equity tier 1, required capital	$ 278,076	$ 242,072
Common equity tier 1, required ratio	4.50%	4.50%
Common equity tier 1, required to be well capitalized, capital	$ 401,665	$ 349,659
Common equity tier 1, required to be well capitalized, ratio	6.50%	6.50%
Tier 1 capital, actual capital	$ 750,851	$ 714,789
Tier 1 capital, actual ratio	0.1215	0.1329
Tier 1 capital, required capital	$ 370,767	$ 322,762
Tier 1 capital, required ratio	0.0600	0.0600
Tier 1 capital, required to be well capitalized, capital	$ 494,356	$ 430,350
Tier 1 capital, required to be well capitalized, ratio	0.0800	0.0800
Total capital, actual capital	$ 811,729	$ 769,836
Total capital, actual ratio	0.1314	0.1431
Total capital, required capital	$ 494,356	$ 430,350
Total capital, required ratio	0.0800	0.0800
Total capital, required to be well capitalized, capital	$ 617,946	$ 537,937
Total capital, required to be well capitalized, ratio	0.1000	0.1000

Bank segment (HEI only) - Deriv

Bank segment (HEI only) - Derivative Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative instrument
Net gains (losses) recognized in the Statement of Income	$ (600)	$ (3,409)	$ 3,781
Derivative, gain (loss), statement of income or comprehensive income	Revenues	Revenues	Revenues
Not Designated as Hedging Instrument
Derivative instrument
Asset derivatives	$ 27	$ 638
Liability derivatives	0	11
Interest rate lock commitments
Derivative instrument
Notional amount	1,720	39,377
Fair value	9	638
Interest rate lock commitments | Not Designated as Hedging Instrument
Derivative instrument
Asset derivatives	9	638
Liability derivatives	0	0
Net gains (losses) recognized in the Statement of Income	(629)	(3,898)	$ 4,239
Forward commitments
Derivative instrument
Notional amount	1,500	38,000
Fair value	18	(11)
Forward commitments | Not Designated as Hedging Instrument
Derivative instrument
Asset derivatives	18	0
Liability derivatives	0	11
Net gains (losses) recognized in the Statement of Income	$ 29	$ 489	$ (458)

Bank segment (HEI only) - Off B

Bank segment (HEI only) - Off Balance Sheet Arrangements and Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2018	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
American Savings Bank (ASB)
Guarantees
Minimum reserve ratio	1.36%
FDIC insurance assessment		$ 3,600	$ 3,200	$ 2,300
Reserve for Off-balance Sheet Activities
Guarantees
Unused commitments to extend credit		2,079,144	1,911,729
Home equity line of credit
Guarantees
Unused commitments to extend credit		1,264,320	1,181,496
Commercial real estate
Guarantees
Unused commitments to extend credit		692,989	612,158
Consumer
Guarantees
Unused commitments to extend credit		85,768	62,090
Residential 1-4 family
Guarantees
Unused commitments to extend credit		20,546	44,262
Commercial and financial standby letters of credit
Guarantees
Unused commitments to extend credit		$ 15,521	$ 11,723

Short-term borrowings (Details)

Short-term borrowings (Details)				12 Months Ended
	Dec. 28, 2022 USD ($)	Feb. 18, 2022 USD ($) extensionOption	May 14, 2021 USD ($) institution	Dec. 31, 2022 USD ($) instrument	Dec. 31, 2021 USD ($) instrument	Oct. 20, 2022 USD ($) institution
Short-term borrowings
Short-term borrowings—other than bank				$ 172,568,000	$ 53,998,000
Mauo, LLC and Hamakua Energy, LLC | Letter of Credit
Short-term borrowings
Number of letters of credit entered into during the period | instrument				5	5
Letters of credit outstanding				$ 8,000,000	$ 10,000,000
Hawaiian Electric Company, Inc. and Subsidiaries
Short-term borrowings
Weighted-average interest rate				4.80%
Credit Facilities | Hawaiian Electric
Short-term borrowings
Number of financial institutions | institution						2
Credit Facilities | Hawaiian Electric Company, Inc. and Subsidiaries
Short-term borrowings
Credit agreement				$ 0	0
Number of financial institutions | institution			9
HEI Facility
Short-term borrowings
Credit agreement			$ 175,000,000
Commitment fee percentage			0.20%
HEI Facility | Maximum
Short-term borrowings
Capitalization ratio required to be maintained as per the debt covenant				50%
HEI Facility | Hawaiian Electric Company, Inc. and Subsidiaries
Short-term borrowings
Ratio of consolidated capitalization required to be maintained as per the debt covenant				35%
Hawaiian Electric Facility
Short-term borrowings
Commitment fee percentage			0.175%
Hawaiian Electric Facility | LIBOR
Short-term borrowings
Line of credit facility basis point spread			1.25%
Hawaiian Electric Facility | Hawaiian Electric Company, Inc. and Subsidiaries
Short-term borrowings
Credit agreement		$ 275,000,000	$ 200,000,000
Number of extension options | extensionOption		2
Extension period		1 year
Credit Facilities Effective July 2017 | Hawaiian Electric Company, Inc. and Subsidiaries
Short-term borrowings
Ratio of consolidated subsidiary debt to total consolidated capitalization required to be maintained as per the debt covenant			65%
Commercial paper
Short-term borrowings
Short-term borrowings—other than bank				$ 50,000,000	$ 54,000,000
Weighted-average interest rate				5.19%	0.55%
Commercial paper | Hawaiian Electric Company, Inc. and Subsidiaries
Short-term borrowings
Short-term borrowings—other than bank				$ 88,000,000	$ 0
Term Loan | Hawaiian Electric
Short-term borrowings
Credit agreement						$ 100,000,000
Term Loan | Hawaiian Electric | SOFR
Short-term borrowings
Line of credit outstanding	$ 35,000,000
Debt instrument, interest rate, effective percentage	5.32%
Debt instrument term	1 month
Line of credit facility | Credit Facilities Effective July 2017
Short-term borrowings
Line of credit facility basis point spread			1.375%

Long-term debt - Schedule of Lo

Long-term debt - Schedule of Long-Term Debt and Maturities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Less unamortized debt issuance costs and debt discount	$ (8,165,000)	$ (3,164,000)
Long-term debt, net—other than bank	2,384,980,000	2,321,937,000
Aggregate principal payments, fiscal year maturity:
2023	172,000,000
2024	13,000,000
2025	109,000,000
2026	136,000,000
2027	112,000,000
Hawaiian Electric Company, Inc. and Subsidiaries
Debt Instrument [Line Items]
Gross long-term debt	1,692,000,000	1,684,000,000
Aggregate principal payments, fiscal year maturity:
2023	100,000,000
2024	0
2025	47,000,000
2026	125,000,000
2027	100,000,000
Special purpose revenue bonds and senior notes
Debt Instrument [Line Items]
Long-term debt, net—other than bank	1,684,816,000	1,676,402,000
Senior notes | Hawaiian Electric Company, Inc. and Subsidiaries
Debt Instrument [Line Items]
Gross long-term debt	1,150,000,000	1,142,000,000
Senior notes | HEI 3.99% senior notes, due 2023
Debt Instrument [Line Items]
Gross long-term debt	$ 50,000,000	50,000,000
Debt instrument, stated interest rate	3.99%
Senior notes | HEI 4.58% senior notes, due 2025
Debt Instrument [Line Items]
Gross long-term debt	$ 50,000,000	50,000,000
Debt instrument, stated interest rate	4.58%
Senior notes | HEI 4.72% senior notes, due 2028
Debt Instrument [Line Items]
Gross long-term debt	$ 100,000,000	100,000,000
Debt instrument, stated interest rate	4.72%
Senior notes | HEI 2.82% senior notes, due 2028
Debt Instrument [Line Items]
Gross long-term debt	$ 24,000,000	24,000,000
Debt instrument, stated interest rate	2.82%
Senior notes | HEI 2.48% senior notes, due 2028
Debt Instrument [Line Items]
Gross long-term debt	$ 30,000,000	30,000,000
Debt instrument, stated interest rate	2.48%
Senior notes | HEI 2.98% senior notes, due 2030
Debt Instrument [Line Items]
Gross long-term debt	$ 50,000,000	50,000,000
Debt instrument, stated interest rate	2.98%
Senior notes | HEI 3.15% senior notes, due 2031
Debt Instrument [Line Items]
Gross long-term debt	$ 51,000,000	51,000,000
Debt instrument, stated interest rate	3.15%
Senior notes | HEI 2.78% senior notes, due 2031
Debt Instrument [Line Items]
Gross long-term debt	$ 25,000,000	25,000,000
Debt instrument, stated interest rate	2.78%
Senior notes | HEI 2.98% senior notes, due 2032
Debt Instrument [Line Items]
Gross long-term debt	$ 30,000,000	0
Debt instrument, stated interest rate	2.98%
Senior notes | HEI 5.43% senior notes, due 2032
Debt Instrument [Line Items]
Gross long-term debt	$ 75,000,000	0
Debt instrument, stated interest rate	5.43%
Senior notes | HEI 5.43% senior notes, due 2034
Debt Instrument [Line Items]
Gross long-term debt	$ 35,000,000	0
Debt instrument, stated interest rate	5.43%
Senior notes | HEI 3.74% senior notes, due 2051
Debt Instrument [Line Items]
Gross long-term debt	$ 20,000,000	20,000,000
Debt instrument, stated interest rate	3.74%
Senior notes | HEI 3.94% senior notes, due 2052
Debt Instrument [Line Items]
Gross long-term debt	$ 20,000,000	0
Debt instrument, stated interest rate	3.94%
Senior notes | Hāmākua Energy 4.02% non-recourse notes, due 2030
Debt Instrument [Line Items]
Gross long-term debt	$ 49,048,000	52,166,000
Debt instrument, stated interest rate	4.02%
Debt collateralized by property, plant and equipment	$ 198,000,000
Term Loan | HEI 2.99% term loan, paid in 2022
Debt Instrument [Line Items]
Gross long-term debt	$ 0	150,000,000
Debt instrument, stated interest rate	2.99%
Term Loan | Mauō 4.90% non-recourse loan, due 2034
Debt Instrument [Line Items]
Gross long-term debt	$ 17,692,000	12,686,000
Debt instrument, stated interest rate	4.90%
Term Loan | Ka`ie`ie Waho 2.79% non-recourse loan, due 2031
Debt Instrument [Line Items]
Gross long-term debt	$ 10,936,000	12,145,000
Debt instrument, stated interest rate	2.79%
Term Loan | Mahipapa 1.90% non-recourse loan, due 2034 to 20362
Debt Instrument [Line Items]
Gross long-term debt	$ 58,869,000	0
Debt instrument, stated interest rate	1.90%
Term Loan | Mahipapa 5.25% non-recourse loan, due 20272
Debt Instrument [Line Items]
Gross long-term debt	$ 724,000	0
Debt instrument, stated interest rate	5.25%
Unsecured Debt | Mauo LIBOR + 1.375% loan, due 2023
Debt Instrument [Line Items]
Gross long-term debt	$ 11,060,000	$ 21,702,000
Maximum aggregate principal amount	50,500,000
Paydown of loan balance, maximum balance	$ 7,000,000
Unsecured Debt | Mauo LIBOR + 1.375% loan, due 2023 | LIBOR
Debt Instrument [Line Items]
Line of credit facility basis point spread	1.375%

Long-term debt - Narrative (Det

Long-term debt - Narrative (Details)					1 Months Ended	12 Months Ended
	Nov. 20, 2022 USD ($)	Oct. 26, 2022 USD ($)	Jul. 01, 2022 USD ($) MW	Sep. 29, 2021 USD ($) tranche	Nov. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 29, 2022 USD ($)	Jul. 31, 2022 MW
Debt Instrument [Line Items]
2023						$ 172,000,000
2024						13,000,000
2025						109,000,000
2026						136,000,000
2027						112,000,000
Refinancing portion of debt	$ 150,000,000				$ 150,000,000
Proceeds from issuance of long-term debt						227,312,000	$ 285,886,000	$ 415,997,000
Equity capitalization ratio				58%
Senior notes
Debt Instrument [Line Items]
Proceeds from private placement				$ 125,000,000
Number of tranches | tranche				2
Senior notes | Share-based Payment Arrangement, Tranche One
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt				$ 75,000,000
Senior notes | Share-based Payment Arrangement, Tranche Two
Debt Instrument [Line Items]
Proceeds from debt on delayed basis		$ 50,000,000
HEI Facility | Senior notes
Debt Instrument [Line Items]
Aggregate principal amount									$ 110,000,000
Hawaiian Electric Company, Inc. and Subsidiaries
Debt Instrument [Line Items]
2023						100,000,000
2024						0
2025						47,000,000
2026						125,000,000
2027						100,000,000
Proceeds from issuance of long-term debt						60,000,000	115,000,000	$ 255,000,000
Long-term debt						1,692,000,000	1,684,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes
Debt Instrument [Line Items]
Long-term debt						$ 1,150,000,000	$ 1,142,000,000
Mahipapa, LLC | Green Energy Team, LLC
Debt Instrument [Line Items]
Unit of renewable energy (in mega watts) | MW			7.5							7.5
Long-term debt			$ 61,000,000
Periodic principal and interest payments			$ 1,600,000

Long-term debt - Changes in Lon

Long-term debt - Changes in Long-term Debt (Details) - Senior notes	Dec. 31, 2022 USD ($)
HEI Series 2022A
Debt Instrument [Line Items]
Aggregate principal amount	$ 30,000,000
Fixed coupon interest rate	2.98%
HEI Series 2022B
Debt Instrument [Line Items]
Aggregate principal amount	$ 20,000,000
Fixed coupon interest rate	3.94%
HEI Series 2022C
Debt Instrument [Line Items]
Aggregate principal amount	$ 75,000,000
Fixed coupon interest rate	5.43%
HEI Green Series 2022D
Debt Instrument [Line Items]
Aggregate principal amount	$ 35,000,000
Fixed coupon interest rate	5.43%

Long-term debt - Note Purchase

Long-term debt - Note Purchase Agreements (Details) - Senior notes - USD ($)	Jan. 10, 2023	Dec. 31, 2022	May 11, 2022
Series 2022A
Debt Instrument [Line Items]
Aggregate principal amount		$ 30,000,000
Fixed coupon interest rate		2.98%
Series 2022A | Hawaiian Electric Company, Inc. and Subsidiaries
Debt Instrument [Line Items]
Aggregate principal amount			$ 60,000,000
Fixed coupon interest rate			3.70%
Series 2022A | Hawaiian Electric
Debt Instrument [Line Items]
Aggregate principal amount			$ 40,000,000
Series 2022A | Hawaii Electric Light
Debt Instrument [Line Items]
Aggregate principal amount			10,000,000
Series 2022A | Maui Electric
Debt Instrument [Line Items]
Aggregate principal amount			$ 10,000,000
Series 2023A | Hawaiian Electric Company, Inc. and Subsidiaries | Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount	$ 90,000,000
Series 2023A | Hawaiian Electric | Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount	$ 40,000,000
Fixed coupon interest rate	6.11%
Series 2023A | Hawaii Electric Light | Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount	$ 25,000,000
Fixed coupon interest rate	6.25%
Series 2023A | Maui Electric | Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount	$ 25,000,000
Fixed coupon interest rate	6.25%
Series 2023B | Hawaiian Electric Company, Inc. and Subsidiaries | Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount	$ 40,000,000
Series 2023B | Hawaiian Electric | Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount	$ 40,000,000
Fixed coupon interest rate	6.25%
Series 2023C | Hawaiian Electric Company, Inc. and Subsidiaries | Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount	$ 20,000,000
Series 2023C | Hawaiian Electric | Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount	$ 20,000,000
Fixed coupon interest rate	6.70%

Shareholders' equity - Addition

Shareholders' equity - Additional Information (Details) shares in Millions	Dec. 31, 2022 shares
Equity [Abstract]
Common stock reserved for future issuance (in shares)	15.3

Shareholders' equity - Accumula

Shareholders' equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI Attributable to Parent [Roll Forward]
Beginning balance	$ 2,390,884	$ 2,337,502	$ 2,280,260
Current period other comprehensive income (loss) and reclassifications, net of taxes	(283,495)	(51,269)	18,775
Ending balance	2,202,499	2,390,884	2,337,502
Hawaiian Electric Company, Inc. and Subsidiaries
AOCI Attributable to Parent [Roll Forward]
Beginning balance	2,261,899	2,141,918	2,047,352
Current period other comprehensive income (loss) and reclassifications, net of taxes	6,141	(361)	(1,640)
Ending balance	2,344,170	2,261,899	2,141,918
AOCI
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(52,533)	(1,264)	(20,039)
Current period other comprehensive income (loss) and reclassifications, net of taxes	(283,495)	(51,269)	18,775
Ending balance	(336,028)	(52,533)	(1,264)
AOCI | Hawaiian Electric Company, Inc. and Subsidiaries
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(3,280)	(2,919)	(1,279)
Current period other comprehensive income (loss) and reclassifications, net of taxes	6,141	(361)	(1,640)
Ending balance	2,861	(3,280)	(2,919)
Net unrealized gains (losses) on securities
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(32,037)	19,986	2,481
Current period other comprehensive income (loss) and reclassifications, net of taxes	(296,867)	(52,023)	17,505
Ending balance	(328,904)	(32,037)	19,986
Unrealized gains (losses) on derivatives
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(3,638)	(3,363)	(1,613)
Current period other comprehensive income (loss) and reclassifications, net of taxes	5,629	(275)	(1,750)
Ending balance	1,991	(3,638)	(3,363)
Retirement benefit plans
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(16,858)	(17,887)	(20,907)
Current period other comprehensive income (loss) and reclassifications, net of taxes	7,743	1,029	3,020
Ending balance	(9,115)	(16,858)	(17,887)
Retirement benefit plans | Hawaiian Electric Company, Inc. and Subsidiaries
AOCI Attributable to Parent [Roll Forward]
Beginning balance	(3,280)	(2,919)	(1,279)
Current period other comprehensive income (loss) and reclassifications, net of taxes	6,141	(361)	(1,640)
Ending balance	$ 2,861	$ (3,280)	$ (2,919)

Shareholders' equity - Reclassi

Shareholders' equity - Reclassification Out of AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Gain on sale of investment securities, net	$ (8,123)	$ (528)	$ (9,275)
Bank revenues	(3,741,985)	(2,850,379)	(2,579,775)
Interest expense	103,402	94,363	88,694
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Bank revenues	(3,408,587)	(2,539,636)	(2,265,320)
Net income (loss)	(190,924)	(179,637)	(171,335)
Amount reclassified from AOCI
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	(176,112)	(152,442)	61,911
Amount reclassified from AOCI | Hawaiian Electric Company, Inc. and Subsidiaries
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	(181,052)	(151,884)	61,410
Amount reclassified from AOCI | Net unrealized gains (losses) on securities
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Gain on sale of investment securities, net	0	(387)	(1,638)
Amount reclassified from AOCI | Amortization of unrealized holding losses on held-to-maturity securities
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Bank revenues	3,993	0	0
Amount reclassified from AOCI | Net realized losses on derivatives qualifying as cash flow hedges
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	172	37	0
Amount reclassified from AOCI | Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	19,659	19,253	23,689
Amount reclassified from AOCI | Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost | Hawaiian Electric Company, Inc. and Subsidiaries
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	18,884	19,461	21,550
Amount reclassified from AOCI | Impact of D&Os of the PUC included in regulatory assets
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	(199,936)	(171,345)	39,860
Amount reclassified from AOCI | Impact of D&Os of the PUC included in regulatory assets | Hawaiian Electric Company, Inc. and Subsidiaries
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	$ (199,936)	$ (171,345)	$ 39,860

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands		3 Months Ended
	Jul. 31, 2022 MWh MW	Jun. 30, 2022 MW	Mar. 31, 2021 MW	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Aug. 31, 2021 USD ($)	Dec. 31, 2020 USD ($) ft²
Lessee, Lease, Description [Line Items]
Renewal option (up to)				10 years
Operating lease right-of-use-assets				$ 115,684	$ 122,416
Operating lease liabilities				$ 126,604	136,760
Lease payments basis reduction for impact of collateral				0.20%
Area of real estate property (in square feet) | ft²							64,000
Lessor, operating sublease, renewal lease term							2 years
Lessor, operating sublease, estimated base rent revenue							$ 8,300
Operating lease term						5 years
Operating lease renewal term (up to)						5 years
Lease not yet commenced, annual rent expense						$ 6,200
Lease not yet commenced liability						$ 32,000
Finance lease liabilities				$ 48,709	0
Right-of-use assets - finance lease				49,370	$ 0
Stage 1 Renewable PPAs
Lessee, Lease, Description [Line Items]
Purchase commitment, period	20 years
Generates in minimum volume required (in megawatts) | MW	39
Generates in minimum volume required (in megawatts hour) | MWh	156
Finance lease liabilities				48,000
Right-of-use assets - finance lease				$ 48,000
FHLB Des Moines | Maximum
Lessee, Lease, Description [Line Items]
Long-term debt term				30 years
Puna Geothermal Venture Power Purchase Agreement
Lessee, Lease, Description [Line Items]
Firm capacity volume | MW		25.7	13
Operating lease right-of-use-assets				$ 19,000
Operating lease liabilities				$ 19,000

Leases - Amounts Related to Lea

Leases - Amounts Related to Lease Cost and Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Lease Cost [Abstract]
Operating lease cost	$ 66,971	$ 80,254
Variable lease cost	250,130	271,832
Sublease income	(2,675)	(2,515)
Total lease cost	314,426	349,571
Finance lease costs:
Amortization of right-of-use assets	1,196
Interest on lease liabilities	806
Total finance lease cost	2,002
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for amounts included in the measurement of lease liabilities—Operating cash flows from operating leases	59,193	$ 73,375
Operating cash flows from financing leases	806
Financing cash flows from financing leases	$ 849
Weighted-average remaining lease term (in years):
Operating leases	7 years 8 months 12 days	6 years 1 month 6 days
Finance leases	19 years 2 months 12 days
Weighted-average discount rate:
Operating leases	3.04%	3.18%
Finance leases	3.92%
Other leases
Operating Lease Cost [Abstract]
Operating lease cost	$ 20,811	$ 14,184
Variable lease cost	8,931	14,360
Sublease income	(2,675)	(2,515)
Total lease cost	27,067	26,029
Finance lease costs:
Amortization of right-of-use assets	188
Interest on lease liabilities	20
Total finance lease cost	208
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for amounts included in the measurement of lease liabilities—Operating cash flows from operating leases	19,143	$ 11,239
Operating cash flows from financing leases	20
Financing cash flows from financing leases	$ 179
Weighted-average remaining lease term (in years):
Operating leases	8 years 1 month 6 days	9 years 1 month 6 days
Finance leases	2 years 4 months 24 days
Weighted-average discount rate:
Operating leases	2.96%	2.84%
Finance leases	3.77%
PPAs classified as leases
Operating Lease Cost [Abstract]
Operating lease cost	$ 46,160	$ 66,070
Variable lease cost	241,199	257,472
Sublease income	0	0
Total lease cost	287,359	323,542
Finance lease costs:
Amortization of right-of-use assets	1,008
Interest on lease liabilities	786
Total finance lease cost	1,794
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for amounts included in the measurement of lease liabilities—Operating cash flows from operating leases	40,050	$ 62,136
Operating cash flows from financing leases	786
Financing cash flows from financing leases	$ 670
Weighted-average remaining lease term (in years):
Operating leases	5 years	2 years 6 months
Finance leases	19 years 7 months 6 days
Weighted-average discount rate:
Operating leases	3.50%	3.63%
Finance leases	3.92%
Hawaiian Electric Company, Inc. and Subsidiaries
Operating Lease Cost [Abstract]
Operating lease cost	$ 61,190	$ 74,648
Variable lease cost	247,351	269,058
Sublease income	(2,675)	(2,515)
Total lease cost	305,866	341,191
Finance lease costs:
Amortization of right-of-use assets	1,008
Interest on lease liabilities	786
Total finance lease cost	1,794
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for amounts included in the measurement of lease liabilities—Operating cash flows from operating leases	54,118	68,304
Operating cash flows from financing leases	786
Financing cash flows from financing leases	$ 670	$ 0	$ 0
Weighted-average remaining lease term (in years):
Operating leases	6 years 9 months 18 days	5 years 10 months 24 days
Finance leases	19 years 7 months 6 days
Weighted-average discount rate:
Operating leases	3.05%	3.31%
Finance leases	3.92%
Hawaiian Electric Company, Inc. and Subsidiaries | Other leases
Operating Lease Cost [Abstract]
Operating lease cost	$ 15,030	$ 8,578
Variable lease cost	6,152	11,586
Sublease income	(2,675)	(2,515)
Total lease cost	18,507	17,649
Finance lease costs:
Amortization of right-of-use assets	0
Interest on lease liabilities	0
Total finance lease cost	0
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for amounts included in the measurement of lease liabilities—Operating cash flows from operating leases	14,068	$ 6,168
Operating cash flows from financing leases	0
Financing cash flows from financing leases	$ 0
Weighted-average remaining lease term (in years):
Operating leases	7 years 3 months 18 days	10 years
Finance leases	0 years
Weighted-average discount rate:
Operating leases	2.94%	2.98%
Finance leases	0%
Hawaiian Electric Company, Inc. and Subsidiaries | PPAs classified as leases
Operating Lease Cost [Abstract]
Operating lease cost	$ 46,160	$ 66,070
Variable lease cost	241,199	257,472
Sublease income	0	0
Total lease cost	287,359	323,542
Finance lease costs:
Amortization of right-of-use assets	1,008
Interest on lease liabilities	786
Total finance lease cost	1,794
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for amounts included in the measurement of lease liabilities—Operating cash flows from operating leases	40,050	$ 62,136
Operating cash flows from financing leases	786
Financing cash flows from financing leases	$ 670
Weighted-average remaining lease term (in years):
Operating leases	5 years	2 years 6 months
Finance leases	19 years 7 months 6 days
Weighted-average discount rate:
Operating leases	3.50%	3.63%
Finance leases	3.92%

Leases - Maturity of Operating

Leases - Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023	$ 28,000
2024	25,000
2025	20,000
2026	19,000
2027	13,000
Thereafter	38,000
Total lease payments	143,000
Less: Imputed interest	(16,000)
Total present value of lease payments	126,604	$ 136,760
Operating lease, not in service, annual capacity payment	4,000
Finance Lease, Liability, to be Paid [Abstract]
Finance lease liabilities	48,709	$ 0
Other leases
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023	24,000
2024	21,000
2025	16,000
2026	15,000
2027	9,000
Thereafter	38,000
Total lease payments	123,000
Less: Imputed interest	(15,000)
Total present value of lease payments	108,000
PPAs classified as leases
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023	4,000
2024	4,000
2025	4,000
2026	4,000
2027	4,000
Thereafter	0
Total lease payments	20,000
Less: Imputed interest	(1,000)
Total present value of lease payments	19,000
Finance Lease, Liability, to be Paid [Abstract]
2023	3,000
2024	3,000
2025	3,000
2026	4,000
2027	4,000
Thereafter	52,000
Total lease payments	69,000
Less: Imputed interest	(21,000)
Finance lease liabilities	48,000
Hawaiian Electric Company, Inc. and Subsidiaries
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023	22,000
2024	19,000
2025	16,000
2026	16,000
2027	10,000
Thereafter	25,000
Total lease payments	108,000
Less: Imputed interest	(10,000)
Total present value of lease payments	98,000
Hawaiian Electric Company, Inc. and Subsidiaries | Other leases
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023	18,000
2024	15,000
2025	12,000
2026	12,000
2027	6,000
Thereafter	25,000
Total lease payments	88,000
Less: Imputed interest	(9,000)
Total present value of lease payments	79,000
Hawaiian Electric Company, Inc. and Subsidiaries | PPAs classified as leases
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023	4,000
2024	4,000
2025	4,000
2026	4,000
2027	4,000
Thereafter	0
Total lease payments	20,000
Less: Imputed interest	(1,000)
Total present value of lease payments	19,000
Finance Lease, Liability, to be Paid [Abstract]
2023	3,000
2024	3,000
2025	3,000
2026	4,000
2027	4,000
Thereafter	52,000
Total lease payments	69,000
Less: Imputed interest	(21,000)
Finance lease liabilities	$ 48,000

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
General payment period	30 days
Revenues from contracts with customers	$ 3,465,215	$ 2,521,425
Revenues from other sources	276,770	328,954
Total revenues	3,741,985	2,850,379	$ 2,579,775
Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	48,883	46,658
Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,416,332	2,474,767
Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,078,372	830,653
Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,087,485	791,424
Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,221,608	837,834
Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	17,063	10,770
Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	48,883	46,658
Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,804	4,086
Regulatory revenue
Disaggregation of Revenue [Line Items]
Revenues from other sources	(29,124)	40,069
Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Revenues from other sources	265,874	242,266
Other bank noninterest income
Disaggregation of Revenue [Line Items]
Revenues from other sources	6,311	17,474
Other
Disaggregation of Revenue [Line Items]
Revenues from other sources	33,709	29,145
Hawaiian Electric Company, Inc. and Subsidiaries
Disaggregation of Revenue [Line Items]
Revenue taxes, other than income tax expense	303,000	226,000	202,000
Revenue taxes accrued	188,000	128,000
Electric utility
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,404,528	2,470,681
Revenues from other sources	4,059	68,955
Total revenues	3,408,587	2,539,636	2,265,320
Electric utility | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Electric utility | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,404,528	2,470,681
Electric utility | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,078,372	830,653
Electric utility | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,087,485	791,424
Electric utility | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,221,608	837,834
Electric utility | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	17,063	10,770
Electric utility | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Electric utility | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Electric utility | Regulatory revenue
Disaggregation of Revenue [Line Items]
Revenues from other sources	(29,124)	40,069
Electric utility | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Revenues from other sources	0	0
Electric utility | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Revenues from other sources	0	0
Electric utility | Other
Disaggregation of Revenue [Line Items]
Revenues from other sources	33,183	28,886
Bank
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	48,883	46,658
Revenues from other sources	272,185	259,740
Total revenues	321,068	306,398	313,511
Bank | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	48,883	46,658
Bank | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	48,883	46,658
Bank | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Regulatory revenue
Disaggregation of Revenue [Line Items]
Revenues from other sources	0	0
Bank | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Revenues from other sources	265,874	242,266
Bank | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Revenues from other sources	6,311	17,474
Bank | Other
Disaggregation of Revenue [Line Items]
Revenues from other sources	0	0
Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,804	4,086
Revenues from other sources	526	259
Total revenues	12,330	4,345	$ 944
Other | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,804	4,086
Other | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,804	4,086
Other | Regulatory revenue
Disaggregation of Revenue [Line Items]
Revenues from other sources	0	0
Other | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Revenues from other sources	0	0
Other | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Revenues from other sources	0	0
Other | Other
Disaggregation of Revenue [Line Items]
Revenues from other sources	$ 526	$ 259

Retirement benefits - Additiona

Retirement benefits - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Vested percentage of interest of each affected participant after participating employer terminates participation	100%
Number of years for which regulatory asset/liability for each utility will be amortized, beginning with respective utility's next rate case	5 years
Executive life and nonqualified pension plan expenses	$ 1,300,000	$ 1,200,000
Regulatory asset charges pretax	$ (269,300,000)	(230,800,000)
Fair value of plan assets, valuation difference amortized in first year	0%
Fair value of plan assets, valuation difference amortized in two to five years	25%
Number of past years for adding or subtracting the unamortized differences from fair value	4 years
Percentage of range around fair value	15%
Expected cash funding for qualified defined benefit plans
Defined contribution plan, expenses recognized	$ 9,000,000	6,000,000	$ 7,000,000
Defined contribution plan, employer discretionary contribution amount	7,000,000	6,000,000	7,000,000
Hawaiian Electric Company, Inc. and Subsidiaries
Expected cash funding for qualified defined benefit plans
Defined contribution plan, expenses recognized	$ 4,000,000	3,000,000	3,000,000
Employer contribution, percent of annual compensation	10%
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Expected rate of return on plan assets	7.25%
Assumed discount rate, active manager premium	0.20%
Actual net return on plan assets	(19.80%)
Pension expense	$ 47,000,000	47,000,000	59,000,000
Expected cash funding for qualified defined benefit plans
Estimate of contributions to postretirement benefit plans in next fiscal year	8,000,000
2023	107,000,000
2024	111,000,000
2025	114,000,000
2026	117,000,000
2027	121,000,000
2028 through 2032	$ 655,000,000
Pension benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan Disclosure [Line Items]
Actual net return on plan assets	(19.80%)
Pension expense	$ 45,000,000	$ 47,000,000	55,000,000
Expected cash funding for qualified defined benefit plans
Estimate of contributions to postretirement benefit plans in next fiscal year	8,000,000
2023	98,000,000
2024	101,000,000
2025	104,000,000
2026	107,000,000
2027	110,000,000
2028 through 2032	$ 601,000,000
Pension benefits | American Savings Bank (ASB)
Defined Benefit Plan Disclosure [Line Items]
Expected rate of return on plan assets	5.83%
Other benefits
Defined Benefit Plan Disclosure [Line Items]
Assumed health care trend rate for medical in next fiscal year	6.50%	6.50%
Assumed health care trend rate for grading down plan in 12 fiscal years thereafter	5%
Assumed health care trend rate for dental in next fiscal year	5%	5%
Assumed health care trend rate for vision in next fiscal year	4%	4%
Assumed health care trend rate for grading down in 2028 and thereafter		5%
Postretirement benefits other than pension expense	$ (100,000)	$ (100,000)	(100,000)
Expected cash funding for qualified defined benefit plans
Estimate of contributions to postretirement benefit plans in next fiscal year	0
Other benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan Disclosure [Line Items]
Postretirement benefits other than pension expense	(100,000)	$ (200,000)	$ (200,000)
Expected cash funding for qualified defined benefit plans
Estimate of contributions to postretirement benefit plans in next fiscal year	$ 0
Minimum
Defined Benefit Plan Disclosure [Line Items]
Threshold percentage around fair value	85%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Threshold percentage around fair value	115%

Retirement benefits - Changes i

Retirement benefits - Changes in Projected Benefit Obligations and Fair Value of Plan Assets and Amounts Recognized in OCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Defined benefit pension and other postretirement benefit plans liability	$ (49,748)	$ (321,780)
Pension benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, balance at the beginning of the period	2,644,639	2,624,530
Service cost	78,173	81,432	$ 73,387
Interest cost	80,062	75,361	81,335
Actuarial gains	(848,905)	(43,300)
Participants contributions	0	0
Benefits paid and expenses	(97,204)	(93,384)
Benefit obligation, balance at the end of the period	1,856,765	2,644,639	2,624,530
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, balance at the beginning of the period	2,320,745	2,089,491
Actual return on plan assets	(461,669)	271,443
Employer contributions	42,542	51,777
Participants contributions	0	0
Benefits paid and expenses	(95,239)	(91,966)
Fair value of plan assets, balance at the end of the period	1,806,379	2,320,745	2,089,491
Accrued benefit asset (liability), balance	(50,386)	(323,894)
Other assets	21,012	23,675
Defined benefit pension and other postretirement benefit plans liability	(71,398)	(347,569)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income [Roll Forward]
AOCI debit/(credit), balance at beginning of the period (excluding impact of PUC D&Os)	347,799	557,564
Recognized during year – prior service credit	0	0
Recognized during year – net actuarial gain (loss)	(27,412)	(27,245)
Occurring during year – net actuarial gain	(245,969)	(182,520)
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	74,418	347,799	557,564
Cumulative impact of PUC D&Os	(55,201)	(324,162)
AOCI debit/(credit), balance at end of the period	19,217	23,637
Net actuarial loss (gain)	74,418	347,799
Prior service gain	0	0
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	74,418	347,799	557,564
Income taxes (benefits)	(5,088)	(6,199)
AOCI debit/(credit), net of taxes (benefits) balance at the end of the period	14,129	17,438
Pension benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, balance at the beginning of the period	2,464,944	2,440,758
Service cost	75,845	79,463	71,604
Interest cost	74,363	70,235	75,484
Actuarial gains	(804,498)	(39,755)
Participants contributions	0	0
Benefits paid and expenses	(88,450)	(85,425)
Transfers	(6,079)	(332)
Benefit obligation, balance at the end of the period	1,716,125	2,464,944	2,440,758
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, balance at the beginning of the period	2,142,617	1,909,730
Actual return on plan assets	(426,825)	266,922
Employer contributions	41,894	51,079
Participants contributions	0	0
Benefits paid and expenses	(87,952)	(84,852)
Other	(3,854)	(262)
Fair value of plan assets, balance at the end of the period	1,665,880	2,142,617	1,909,730
Accrued benefit asset (liability), balance	(50,245)	(322,327)
Other assets	0	0
Other liabilities (short-term)	(497)	(547)
Defined benefit pension and other postretirement benefit plans liability	(49,748)	(321,780)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income [Roll Forward]
AOCI debit/(credit), balance at beginning of the period (excluding impact of PUC D&Os)	329,645	538,521
Recognized during year – prior service credit	0	0
Recognized during year – net actuarial gain (loss)	(26,358)	(27,534)
Occurring during year – net actuarial gain	(246,023)	(181,342)
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	57,264	329,645	538,521
Cumulative impact of PUC D&Os	(55,201)	(324,162)
AOCI debit/(credit), balance at end of the period	2,063	5,483
Net actuarial loss (gain)	57,264	329,645
Prior service gain	0	0
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	57,264	329,645	538,521
Income taxes (benefits)	(531)	(1,412)
AOCI debit/(credit), net of taxes (benefits) balance at the end of the period	1,532	4,071
Other benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, balance at the beginning of the period	218,151	226,421
Service cost	2,580	2,827	2,537
Interest cost	6,502	6,122	7,407
Actuarial gains	(60,283)	(8,527)
Participants contributions	3,348	2,943
Benefits paid and expenses	(12,862)	(11,635)
Benefit obligation, balance at the end of the period	157,436	218,151	226,421
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, balance at the beginning of the period	239,311	219,873
Actual return on plan assets	(39,469)	28,130
Employer contributions	0	0
Participants contributions	3,348	2,943
Benefits paid and expenses	(12,643)	(11,635)
Fair value of plan assets, balance at the end of the period	190,547	239,311	219,873
Accrued benefit asset (liability), balance	33,111	21,160
Other assets	33,526	21,663
Defined benefit pension and other postretirement benefit plans liability	(415)	(503)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income [Roll Forward]
AOCI debit/(credit), balance at beginning of the period (excluding impact of PUC D&Os)	(19,975)	2,395
Recognized during year – prior service credit	928	1,533
Recognized during year – net actuarial gain (loss)	12	(203)
Occurring during year – net actuarial gain	(7,203)	(23,700)
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	(26,238)	(19,975)	2,395
Cumulative impact of PUC D&Os	19,486	19,166
AOCI debit/(credit), balance at end of the period	(6,752)	(809)
Net actuarial loss (gain)	(25,363)	(18,172)
Prior service gain	(875)	(1,803)
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	(26,238)	(19,975)	2,395
Income taxes (benefits)	1,740	209
AOCI debit/(credit), net of taxes (benefits) balance at the end of the period	(5,012)	(600)
Other benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, balance at the beginning of the period	209,470	217,074
Service cost	2,554	2,802	2,515
Interest cost	6,227	5,875	7,103
Actuarial gains	(58,253)	(7,779)
Participants contributions	3,286	2,886
Benefits paid and expenses	(12,750)	(11,388)
Transfers	0	0
Benefit obligation, balance at the end of the period	150,534	209,470	217,074
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, balance at the beginning of the period	235,525	216,315
Actual return on plan assets	(38,764)	27,712
Employer contributions	0	0
Participants contributions	3,286	2,886
Benefits paid and expenses	(12,541)	(11,388)
Other	(12)	0
Fair value of plan assets, balance at the end of the period	187,494	235,525	216,315
Accrued benefit asset (liability), balance	36,960	26,055
Other assets	36,960	26,055
Other liabilities (short-term)	0	0
Defined benefit pension and other postretirement benefit plans liability	0	0
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income [Roll Forward]
AOCI debit/(credit), balance at beginning of the period (excluding impact of PUC D&Os)	(20,231)	1,181
Recognized during year – prior service credit	925	1,530
Recognized during year – net actuarial gain (loss)	0	(206)
Occurring during year – net actuarial gain	(6,096)	(22,736)
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	(25,402)	(20,231)	1,181
Cumulative impact of PUC D&Os	19,486	19,166
AOCI debit/(credit), balance at end of the period	(5,916)	(1,065)
Net actuarial loss (gain)	(24,530)	(18,434)
Prior service gain	(872)	(1,797)
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	(25,402)	(20,231)	$ 1,181
Income taxes (benefits)	1,523	274
AOCI debit/(credit), net of taxes (benefits) balance at the end of the period	$ (4,393)	$ (791)

Retirement benefits - Asset All

Retirement benefits - Asset Allocation Target and Actual Percentage (Details)	Dec. 31, 2022	Dec. 31, 2021
U.S. equity securities | Minimum
Asset category, Target
Target	60%
U.S. equity securities | Maximum
Asset category, Target
Target	80%
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	100%	100%
Asset category, Target
Target	100%
Pension benefits | U.S. equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	58%	59%
Asset category, Target
Target	50%
Pension benefits | U.S. equity securities | Minimum
Asset category, Target
Target	40%
Pension benefits | U.S. equity securities | Maximum
Asset category, Target
Target	65%
Pension benefits | Non-U.S equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	13%	13%
Asset category, Target
Target	15%
Pension benefits | Non-U.S equity securities | Minimum
Asset category, Target
Target	5%
Pension benefits | Non-U.S equity securities | Maximum
Asset category, Target
Target	25%
Pension benefits | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	27%	27%
Asset category, Target
Target	30%
Pension benefits | Fixed income securities | Minimum
Asset category, Target
Target	20%
Pension benefits | Fixed income securities | Maximum
Asset category, Target
Target	60%
Pension benefits | Private equity
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	2%	1%
Asset category, Target
Target	5%
Pension benefits | Private equity | Minimum
Asset category, Target
Target	0%
Pension benefits | Private equity | Maximum
Asset category, Target
Target	10%
Other benefits
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	100%	100%
Asset category, Target
Target	100%
Other benefits | U.S. equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	57%	58%
Asset category, Target
Target	50%
Other benefits | U.S. equity securities | Minimum
Asset category, Target
Target	40%
Other benefits | U.S. equity securities | Maximum
Asset category, Target
Target	65%
Other benefits | Non-U.S equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	15%	15%
Asset category, Target
Target	15%
Other benefits | Non-U.S equity securities | Minimum
Asset category, Target
Target	5%
Other benefits | Non-U.S equity securities | Maximum
Asset category, Target
Target	25%
Other benefits | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	28%	27%
Asset category, Target
Target	30%
Other benefits | Fixed income securities | Minimum
Asset category, Target
Target	20%
Other benefits | Fixed income securities | Maximum
Asset category, Target
Target	60%
Other benefits | Private equity
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	0%	0%
Asset category, Target
Target	5%
Other benefits | Private equity | Minimum
Asset category, Target
Target	0%
Other benefits | Private equity | Maximum
Asset category, Target
Target	10%

Retirement benefits - Assets He

Retirement benefits - Assets Held In Retirement Benefit Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension benefits
Fair value measurements on a recurring basis
Fair value of plan assets	$ 1,806,379	$ 2,320,745	$ 2,089,491
Other benefits
Fair value measurements on a recurring basis
Fair value of plan assets	190,547	239,311	$ 219,873
Fair value measurements on a recurring basis | Pension benefits
Fair value measurements on a recurring basis
Fair value of plan assets	1,806,000	2,321,000
Fair value measurements on a recurring basis | Pension benefits | Total, excluding cash, receivables and payables, net
Fair value measurements on a recurring basis
Fair value of plan assets	1,805,000	2,318,000
Fair value measurements on a recurring basis | Pension benefits | Equity investments
Fair value measurements on a recurring basis
Fair value of plan assets	$ 1,189,000	$ 1,546,000
Fair value measurements on a recurring basis | Pension benefits | Non-U.S equity securities
Fair value measurements on a recurring basis
Redemption frequency, daily	59%	61%
Redemption frequency, monthly	41%	39%
Fair value measurements on a recurring basis | Pension benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	$ 534,000	$ 700,000
Fair value measurements on a recurring basis | Pension benefits | Cash, receivables and payables, net
Fair value measurements on a recurring basis
Fair value of plan assets	1,000	3,000
Fair value measurements on a recurring basis | Other benefits
Fair value measurements on a recurring basis
Fair value of plan assets	191,000	239,000
Fair value measurements on a recurring basis | Other benefits | Total, excluding cash, receivables and payables, net
Fair value measurements on a recurring basis
Fair value of plan assets	191,000	239,000
Fair value measurements on a recurring basis | Other benefits | Equity investments
Fair value measurements on a recurring basis
Fair value of plan assets	$ 134,000	$ 173,000
Fair value measurements on a recurring basis | Other benefits | Non-U.S equity securities
Fair value measurements on a recurring basis
Redemption frequency, daily	56%	57%
Redemption frequency, monthly	44%	43%
Fair value measurements on a recurring basis | Other benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	$ 53,000	$ 63,000
Fair value measurements on a recurring basis | Other benefits | Cash, receivables and payables, net
Fair value measurements on a recurring basis
Fair value of plan assets	0	0
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Pension benefits | U.S. equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	387,000	432,000
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Pension benefits | Non-U.S equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	147,000	188,000
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Pension benefits | U.S. equity index and exchange-traded funds
Fair value measurements on a recurring basis
Fair value of plan assets	580,000	830,000
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Pension benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets		393,000
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Pension benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	83,000
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Pension benefits | Fixed income mutual and exchange-traded funds
Fair value measurements on a recurring basis
Fair value of plan assets	225,000
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Other benefits | U.S. equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	48,000	53,000
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Other benefits | Non-U.S equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	18,000	24,000
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Other benefits | U.S. equity index and exchange-traded funds
Fair value measurements on a recurring basis
Fair value of plan assets	58,000	84,000
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Other benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets		58,000
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Other benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	0
Fair value measurements on a recurring basis | Fair Value, Inputs, Level 1, 2 and 3 | Other benefits | Fixed income mutual and exchange-traded funds
Fair value measurements on a recurring basis
Fair value of plan assets	50,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Pension benefits | Total, excluding cash, receivables and payables, net
Fair value measurements on a recurring basis
Fair value of plan assets	1,364,000	1,610,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Pension benefits | Equity investments
Fair value measurements on a recurring basis
Fair value of plan assets	1,114,000	1,449,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Pension benefits | U.S. equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	387,000	431,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Pension benefits | Non-U.S equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	147,000	188,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Pension benefits | U.S. equity index and exchange-traded funds
Fair value measurements on a recurring basis
Fair value of plan assets	580,000	830,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Pension benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	235,000	146,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Pension benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	10,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Pension benefits | Fixed income mutual and exchange-traded funds
Fair value measurements on a recurring basis
Fair value of plan assets	225,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Pension benefits | Private equity at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Pension benefits | Cash equivalents, fund and at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	15,000	15,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other benefits | Total, excluding cash, receivables and payables, net
Fair value measurements on a recurring basis
Fair value of plan assets	177,000	220,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other benefits | Equity investments
Fair value measurements on a recurring basis
Fair value of plan assets	124,000	161,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other benefits | U.S. equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	48,000	53,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other benefits | Non-U.S equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	18,000	24,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other benefits | U.S. equity index and exchange-traded funds
Fair value measurements on a recurring basis
Fair value of plan assets	58,000	84,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	50,000	56,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other benefits | Fixed income mutual and exchange-traded funds
Fair value measurements on a recurring basis
Fair value of plan assets	50,000
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other benefits | Private equity at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other benefits | Cash equivalents, fund and at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	3,000	3,000
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Pension benefits | Total, excluding cash, receivables and payables, net
Fair value measurements on a recurring basis
Fair value of plan assets	73,000	248,000
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Pension benefits | Equity investments
Fair value measurements on a recurring basis
Fair value of plan assets	0	1,000
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Pension benefits | U.S. equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	0	1,000
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Pension benefits | Non-U.S equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	0	0
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Pension benefits | U.S. equity index and exchange-traded funds
Fair value measurements on a recurring basis
Fair value of plan assets	0	0
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Pension benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	73,000	247,000
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Pension benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	73,000
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Pension benefits | Private equity at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	0	0
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Other benefits | Total, excluding cash, receivables and payables, net
Fair value measurements on a recurring basis
Fair value of plan assets	0	2,000
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Other benefits | Equity investments
Fair value measurements on a recurring basis
Fair value of plan assets	0	0
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Other benefits | U.S. equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	0	0
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Other benefits | Non-U.S equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	0	0
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Other benefits | U.S. equity index and exchange-traded funds
Fair value measurements on a recurring basis
Fair value of plan assets	0	0
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Other benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	0	2,000
Fair value measurements on a recurring basis | Significant other observable inputs (Level 2) | Other benefits | Private equity at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	0	0
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits
Fair value measurements on a recurring basis
Fair value of plan assets	368,000	460,000
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits | Non-U.S equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	$ 75,000	$ 96,000
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits | Non-U.S equity securities | Minimum
Fair value measurements on a recurring basis
Redemption notice period	5 days	5 days
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits | Non-U.S equity securities | Maximum
Fair value measurements on a recurring basis
Redemption notice period	30 days	30 days
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits | Non-U.S. equity investments at net asset value (NAV)
Fair value measurements on a recurring basis
Fair value of plan assets	$ 75,000	$ 96,000
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	$ 226,000	$ 307,000
Redemption notice period	15 days	15 days
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits | Fixed income investments at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	$ 226,000
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits | Private equity at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	34,000	$ 22,000
Unfunded commitments	$ 56,000	66,000
Dissolution written notice period	6 months
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits | Cash equivalents, fund and at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	$ 48,000	50,000
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits | Cash equivalents
Fair value measurements on a recurring basis
Fair value of plan assets	$ 33,000	$ 35,000
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits | Cash equivalents | Minimum
Fair value measurements on a recurring basis
Redemption notice period	0 days	0 days
Fair value measurements on a recurring basis | Net Asset Value | Pension benefits | Cash equivalents | Maximum
Fair value measurements on a recurring basis
Redemption notice period	1 day	1 day
Fair value measurements on a recurring basis | Net Asset Value | Other benefits
Fair value measurements on a recurring basis
Fair value of plan assets	$ 14,000	$ 17,000
Fair value measurements on a recurring basis | Net Asset Value | Other benefits | Non-U.S equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	$ 10,000	$ 12,000
Fair value measurements on a recurring basis | Net Asset Value | Other benefits | Non-U.S equity securities | Minimum
Fair value measurements on a recurring basis
Redemption notice period	5 days	5 days
Fair value measurements on a recurring basis | Net Asset Value | Other benefits | Non-U.S equity securities | Maximum
Fair value measurements on a recurring basis
Redemption notice period	30 days	30 days
Fair value measurements on a recurring basis | Net Asset Value | Other benefits | Non-U.S. equity investments at net asset value (NAV)
Fair value measurements on a recurring basis
Fair value of plan assets	$ 10,000	$ 12,000
Fair value measurements on a recurring basis | Net Asset Value | Other benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	$ 3,000	$ 5,000
Redemption notice period	15 days	15 days
Fair value measurements on a recurring basis | Net Asset Value | Other benefits | Fixed income investments at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	$ 3,000
Fair value measurements on a recurring basis | Net Asset Value | Other benefits | Private equity at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	0	$ 0
Fair value measurements on a recurring basis | Net Asset Value | Other benefits | Cash equivalents, fund and at NAV
Fair value measurements on a recurring basis
Fair value of plan assets	4,000	3,000
Fair value measurements on a recurring basis | Net Asset Value | Other benefits | Cash equivalents
Fair value measurements on a recurring basis
Fair value of plan assets	$ 1,000	$ 0
Fair value measurements on a recurring basis | Net Asset Value | Other benefits | Cash equivalents | Minimum
Fair value measurements on a recurring basis
Redemption notice period	0 days	0 days
Fair value measurements on a recurring basis | Net Asset Value | Other benefits | Cash equivalents | Maximum
Fair value measurements on a recurring basis
Redemption notice period	1 day	1 day

Retirement benefits - Weighted

Retirement benefits - Weighted Average Assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension benefits
Benefit obligation
Discount rate	5.67%	3.05%	2.92%
Rate of compensation increase	3.50%	3.50%	3.50%
Net periodic pension/benefit cost (years ended)
Discount rate	3.05%	2.92%	3.61%
Expected return on plan assets	7.25%	7.25%	7.25%
Rate of compensation increase	3.50%	3.50%	3.50%
Pension benefits | American Savings Bank (ASB)
Benefit obligation
Discount rate	5.63%	3.04%	2.76%
Net periodic pension/benefit cost (years ended)
Discount rate	3.04%	2.76%	3.49%
Expected return on plan assets	3.24%	2.96%	3.69%
Other benefits
Benefit obligation
Discount rate	5.66%	3.07%	2.83%
Net periodic pension/benefit cost (years ended)
Discount rate	3.07%	2.83%	3.52%
Expected return on plan assets	7.25%	7.25%	7.25%

Retirement benefits - Component

Retirement benefits - Components of NPPC and NPBC (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 78,173	$ 81,432	$ 73,387
Interest cost	80,062	75,361	81,335
Expected return on plan assets	(141,266)	(132,223)	(113,800)
Amortization of net prior service (gain) cost	0	0	8
Amortization of net actuarial losses	27,412	27,245	33,456
Net periodic pension/benefit cost	44,381	51,815	74,386
Impact of PUC D&Os	37,148	27,963	20,997
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	$ 81,529	79,778	95,383
Actual net return on plan assets	(19.80%)
Pension benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 75,845	79,463	71,604
Interest cost	74,363	70,235	75,484
Expected return on plan assets	(133,873)	(125,404)	(107,369)
Amortization of net prior service (gain) cost	0	0	9
Amortization of net actuarial losses	26,358	27,534	30,566
Net periodic pension/benefit cost	42,693	51,828	70,294
Impact of PUC D&Os	37,148	27,963	20,997
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	$ 79,841	79,791	91,291
Actual net return on plan assets	(19.80%)
Other benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 2,580	2,827	2,537
Interest cost	6,502	6,122	7,407
Expected return on plan assets	(13,621)	(12,957)	(12,124)
Amortization of net prior service (gain) cost	(928)	(1,533)	(1,761)
Amortization of net actuarial losses	(12)	203	208
Net periodic pension/benefit cost	(5,479)	(5,338)	(3,733)
Impact of PUC D&Os	4,966	4,839	3,179
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	(513)	(499)	(554)
Other benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	2,554	2,802	2,515
Interest cost	6,227	5,875	7,103
Expected return on plan assets	(13,381)	(12,755)	(11,957)
Amortization of net prior service (gain) cost	(925)	(1,530)	(1,758)
Amortization of net actuarial losses	0	206	207
Net periodic pension/benefit cost	(5,525)	(5,402)	(3,890)
Impact of PUC D&Os	4,966	4,839	3,179
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	$ (559)	$ (563)	$ (711)

Retirement benefits - ABO and P

Retirement benefits - ABO and PBO in Excess of Plan Assets (Details) - Pension benefits - USD ($) $ in Billions	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plans - ABOs	$ 1.7	$ 2.3
Defined benefit plans with PBOs in excess of plan assets
PBOs	1.8	2.5
Fair value of plan assets	1.7	2.2
Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plans - ABOs	1.5	2.1
Defined benefit plans with PBOs in excess of plan assets
PBOs	1.7	2.5
Fair value of plan assets	$ 1.7	$ 2.1

Share-based compensation - Addi

Share-based compensation - Additional Information (Details) - USD ($) $ in Millions		12 Months Ended
	Mar. 01, 2014	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based compensation
Income tax benefit		$ 2.1	$ 1.4	$ 1
Long-term incentive plan (LTIP)
Share-based compensation
Performance period		3 years
Exception to forfeiture, minimum requisite service period		12 months
Payout low end of range		0%
Payout high end of range		200%
Restricted stock units
Share-based compensation
Fair value		$ 4.2	3	4.2
Income tax benefit		0.6	0.6	0.7
Unrecognized compensation cost		$ 4.3
Weighted-average period over which unrecognized compensation cost expected to be recognized		1 year 8 months 12 days
LTIP linked to TRS
Share-based compensation
Fair value		$ 0.8	0.8	2.6
Income tax benefit		0.1	0.2	0.4
Unrecognized compensation cost		$ 1.2
Weighted-average period over which unrecognized compensation cost expected to be recognized		1 year 6 months
LTIP awards linked to other performance conditions
Share-based compensation
Fair value		$ 3.2	1.7	7.6
Income tax benefit		0.4	$ 0.4	$ 1.2
Unrecognized compensation cost		$ 3.7
Weighted-average period over which unrecognized compensation cost expected to be recognized		1 year 4 months 24 days
Equity and Incentive Plan (EIP)
Share-based compensation
Additional shares available for issuance (in shares)	1,500,000
Shares remaining available for future issuance (in shares)		2,800,000
Shares that can be issued upon vesting of outstanding units and achievement of performance goals (in shares)		500,000
Equity and Incentive Plan (EIP) | Restricted shares
Share-based compensation
Vesting period		3 years	3 years	4 years	4 years
Equity and Incentive Plan (EIP) | Restricted shares | Share-based Payment Arrangement, Tranche One
Share-based compensation
Vesting percentage		33.33%	33.33%	25%	25%
Equity and Incentive Plan (EIP) | Restricted shares | Share-based Payment Arrangement, Tranche Two
Share-based compensation
Vesting percentage		33.33%	33.33%	25%	25%
Equity and Incentive Plan (EIP) | Restricted shares | Share-based Payment Arrangement, Tranche Three
Share-based compensation
Vesting percentage		33.33%	33.33%	25%	25%
Equity and Incentive Plan (EIP) | Restricted shares | Share-Based Payment Arrangement, Tranche Four
Share-based compensation
Vesting percentage				25%	25%
Nonemployee Director Stock Plan
Share-based compensation
Shares remaining available for future issuance (in shares)		208,627

Share-based compensation - Rela

Share-based compensation - Related Income Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 10.4	$ 9.1	$ 5.8
Income tax benefit	2.1	1.4	1
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3	2.7	1.8
Income tax benefit	$ 0.7	$ 0.6	$ 0.4

Share-based compensation - The

Share-based compensation - The 2011 Director Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Income tax benefit	$ 2.1	$ 1.4	$ 1
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	35,720	29,816	36,100
Fair value	$ 1.5	$ 1.3	$ 1.3
Income tax benefit	$ 0.4	$ 0.3	$ 0.3

Share-based compensation - Rest

Share-based compensation - Restricted Stock Units (Details) - Restricted stock units - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares
Outstanding, beginning of period (in shares)	233,448	193,939	207,641
Granted (in shares)	98,463	137,582	78,595
Vested (in shares)	(96,282)	(79,623)	(77,719)
Forfeited (in shares)	(53,101)	(18,450)	(14,578)
Outstanding, end of period (in shares)	182,528	233,448	193,939
Weighted-Average Grant-Date Fair Value Per Share
Outstanding, beginning of period (in dollars per share)	$ 38.10	$ 40.89	$ 35.36
Granted (in dollars per share)	41.31	34.66	47.99
Vested (in dollars per share)	37.75	38.51	34.19
Forfeited (in dollars per share)	39.01	39.92	36.20
Outstanding, end of period (in dollars per share)	$ 39.75	$ 38.10	$ 40.89
Total weighted-average grant-date fair value of shares granted (in millions)	$ 4.1	$ 4.8	$ 3.8

Share-based compensation - LTIP

Share-based compensation - LTIP Linked to TRS (Details) - LTIP linked to TRS - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares
Outstanding, beginning of period (in shares)	90,974	89,222	96,402
Granted (in shares)	26,469	46,024	24,630
Vested (issued or unissued and cancelled) (in shares)	(29,042)	(32,355)	(29,409)
Forfeited (in shares)	(16,827)	(11,917)	(2,401)
Outstanding, end of period (in shares)	71,574	90,974	89,222
Weighted-Average Grant-Date Fair Value Per Share
Outstanding, beginning of period (in dollars per share)	$ 42.86	$ 42.10	$ 39.62
Granted (in dollars per share)	54.92	41.12	48.62
Vested (issued or unissued and cancelled) (in dollars per share)	41.07	38.20	39.51
Forfeited (in dollars per share)	44.45	43.07	41.22
Outstanding, end of period (in dollars per share)	$ 47.67	$ 42.86	$ 42.10
Total weighted-average grant-date fair value of shares granted (in millions)	$ 1.5	$ 1.9	$ 1.2

Share-based compensation - Assu

Share-based compensation - Assumptions to Determine the Fair Value of LTIP Awards Linked to TRS (Details) - LTIP linked to TRS - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.71%	0.19%	1.39%
Expected life in years	3 years	3 years	3 years
Expected volatility	31%	29.90%	13.10%
Range of expected volatility for Peer Group, minimum	25.40%	25.60%	13.60%
Range of expected volatility for Peer Group, maximum	76.70%	102.90%	95.40%
Grant date fair value (in dollars per share)	$ 54.92	$ 41.12	$ 48.62

Share-based compensation - LT_2

Share-based compensation - LTIP Awards Linked To Other Performance Conditions (Details) - LTIP awards linked to other performance conditions - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares
Outstanding, beginning of period (in shares)	306,342	220,715	403,768
Granted (in shares)	105,860	184,102	98,522
Vested (in shares)	(71,807)	(43,155)	(135,804)
Increased above target (cancelled) (in shares)	36,505	(7,646)	(136,163)
Forfeited (in shares)	(67,311)	(47,674)	(9,608)
Outstanding, end of period (in shares)	309,589	306,342	220,715
Weighted-Average Grant-Date Fair Value Per Share
Outstanding, beginning of period (in dollars per share)	$ 38.42	$ 41.03	$ 35.15
Granted (in dollars per share)	41.31	34.37	48.10
Vested (in dollars per share)	37.68	34.12	33.48
Increased above target (cancelled) (in dollars per share)	35.75	39.06	36.44
Forfeited (in dollars per share)	37.35	38.74	38.36
Outstanding, end of period (in dollars per share)	$ 39.50	$ 38.42	$ 41.03
Total weighted-average grant-date fair value of shares granted (in millions)	$ 4.4	$ 6.3	$ 4.7

Income taxes - Components of In

Income taxes - Components of Income Taxes Attributable to Net Income for Common Stock (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Federal
Current	$ 77,595	$ 51,455	$ 23,207
Deferred	(37,410)	(11,689)	(4,215)
Deferred tax credits, net	4,031	4,611	10,979
Federal taxes	44,216	44,377	29,971
State
Current	11,981	12,119	8,430
Deferred	4,914	6,290	2,509
Deferred tax credits, net	56	21	0
State taxes	16,951	18,430	10,939
Total	61,167	62,807	40,910
Hawaiian Electric Company, Inc. and Subsidiaries
Federal
Current	75,118	42,794	31,950
Deferred	(39,646)	(12,109)	(5,408)
Deferred tax credits, net	137	302	1,549
Federal taxes	35,609	30,987	28,091
State
Current	15,780	4,861	3,768
Deferred	(1,769)	8,279	8,559
Deferred tax credits, net	56	21	0
State taxes	14,067	13,161	12,327
Total	$ 49,676	$ 44,148	$ 40,418

Income taxes - Income Tax Recon

Income taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Expense (Benefit) [Line Items]
Amount at the federal statutory income tax rate	$ 63,881	$ 65,281	$ 50,531
Increase (decrease) resulting from:
State income taxes, net of federal income tax benefit	14,438	15,735	9,448
Net deferred tax asset (liability) adjustment related to the Tax Act	(9,886)	(9,886)	(11,267)
Other, net	(7,266)	(8,323)	(7,802)
Total	$ 61,167	$ 62,807	$ 40,910
Effective income tax rate (%)	20.10%	20.20%	17%
Hawaiian Electric Company, Inc. and Subsidiaries
Income Tax Expense (Benefit) [Line Items]
Amount at the federal statutory income tax rate	$ 50,526	$ 46,995	$ 44,468
Increase (decrease) resulting from:
State income taxes, net of federal income tax benefit	11,026	10,323	9,658
Net deferred tax asset (liability) adjustment related to the Tax Act	(9,886)	(9,886)	(11,267)
Other, net	(1,990)	(3,284)	(2,441)
Total	$ 49,676	$ 44,148	$ 40,418
Effective income tax rate (%)	20.60%	19.70%	19.10%

Income taxes - Deferred Tax Ass

Income taxes - Deferred Tax Assets and Liabilities Due to Book/Tax Differences (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets
Regulatory liabilities, excluding amounts attributable to property, plant and equipment	$ 82,488	$ 87,817
Operating lease liabilities	45,016	35,449
Retirement benefits	7,692	0
Revenue taxes	51,392	35,040
Allowance for bad debts	22,734	26,217
Available-for-sale investments	120,405	11,728
Other	39,399	46,790
Total deferred tax assets	369,126	243,041
Deferred tax liabilities
Property, plant and equipment related	511,832	500,659
Operating lease right-of-use assets	44,461	35,271
Regulatory assets, excluding amounts attributable to property, plant and equipment	22,183	23,700
Retirement benefits	0	6,863
Other	53,112	61,308
Total deferred tax liabilities	631,588	627,801
Net deferred income tax liability	262,462	384,760
Deferred tax assets, tax credit carryforwards	4,300
Hawaiian Electric Company, Inc. and Subsidiaries
Deferred tax assets
Regulatory liabilities, excluding amounts attributable to property, plant and equipment	82,488	87,817
Operating lease liabilities	37,472	29,661
Retirement benefits	6,852	0
Revenue taxes	51,392	35,040
Allowance for bad debts	2,195	7,156
Available-for-sale investments	0	0
Other	20,287	20,529
Total deferred tax assets	200,686	180,203
Deferred tax liabilities
Property, plant and equipment related	497,929	490,713
Operating lease right-of-use assets	37,472	29,661
Regulatory assets, excluding amounts attributable to property, plant and equipment	22,183	23,700
Retirement benefits	0	8,261
Other	27,532	36,502
Total deferred tax liabilities	585,116	588,837
Net deferred income tax liability	384,430	$ 408,634
State and Local Jurisdiction
Deferred tax liabilities
Tax credit carryforward	$ 5,600

Income taxes - Additional Infor

Income taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Expense (Benefit) [Line Items]
Deferred tax assets, valuation allowance	$ 0	$ 0
Unrecognized tax benefits that would impact effective tax rate	10.2	10.2
Credit adjustments to interest expense on income taxes	0.4	0.2	$ (0.5)
Amount of accrued interest related to uncertain tax positions	0.6	0.3
Hawaiian Electric Company, Inc. and Subsidiaries
Income Tax Expense (Benefit) [Line Items]
Credit adjustments to interest expense on income taxes	0.1	0.1	$ (0.3)
Amount of accrued interest related to uncertain tax positions	$ 0.2	$ 0.1

Income taxes - Changes in Unrec

Income taxes - Changes in Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Changes in total unrecognized tax benefits
Unrecognized tax benefits, at the beginning of the period	$ 17.1	$ 12.7	$ 2.2
Additions based on tax positions taken during the year	19	2.8	0.2
Reductions based on tax positions taken during the year	(3.5)	(0.5)	0
Additions for tax positions of prior years	0.6	7.6	11.6
Reductions for tax positions of prior years	(2.6)	(5.5)	(0.1)
Lapses of statute of limitations	0	0	(0.2)
Settlement	0	0	(1)
Unrecognized tax benefits, at the end of the period	30.6	17.1	12.7
Hawaiian Electric Company, Inc. and Subsidiaries
Changes in total unrecognized tax benefits
Unrecognized tax benefits, at the beginning of the period	11.6	12.7	1.7
Additions based on tax positions taken during the year	0.1	0.3	0.2
Reductions based on tax positions taken during the year	0	0	0
Additions for tax positions of prior years	0.2	0.2	11.6
Reductions for tax positions of prior years	(0.2)	(1.6)	(0.1)
Lapses of statute of limitations	0	0	(0.2)
Settlement	0	0	(0.5)
Unrecognized tax benefits, at the end of the period	$ 11.7	$ 11.6	$ 12.7

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	$ 106	$ 98	$ 98
Income taxes paid (net of refundable credits)	41	41	32
Income taxes refunded (including refundable credits)	2	7	3
Supplemental disclosures of noncash activities
Electric utility property, plant and equipment-Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	68	48	44
Loans transferred from held for investment to held for sale (investing)	0	61	0
Real estate transferred from property, plant and equipment to other assets held-for-sale (investing)	0	3	0
Right-of-use assets obtained in exchange for operating lease obligations (investing)	51	44	26
Property, plant, equipment and other assets received in exchange for the assumption of debt associated with a business acquisition (investing)	68	0	0
Debt, lease liabilities and other liabilities assumed in business acquisition (financing)	68	0	0
Common stock issued (gross) for director and executive/management compensation (financing)	10	7	16
Obligations to fund low income housing investments, net (investing)	9	36	25
Transfer of securities from available for sale to held to maturities (investing)	755	0	0
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	69	71	65
Income taxes paid (net of refundable credits)	67	45	41
Income taxes refunded (including refundable credits)	0	5	3
Supplemental disclosures of noncash activities
Electric utility property, plant and equipment-Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	64	43	41
Right-of-use assets obtained in exchange for operating lease obligations (investing)	44	44	17
Estimated fair value of noncash contributions in aid of construction (investing)	14	8	10
Increase related to an acquisition (investing)	15	0	0
Right-of-use assets obtained in exchange for finance lease obligations (financing)	48	0	0
Reduction of long-term debt from funds previously transferred for repayment (financing)	$ 0	$ 0	$ 82

Regulatory restrictions on ne_2

Regulatory restrictions on net assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Regulatory restrictions on net assets
Common stock equity	$ 2,202,499	$ 2,390,884	$ 2,337,502	$ 2,280,260
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory restrictions on net assets
Restrictions on transfer of net assets to the parent in the form of cash dividends, loans and advances	$ 951,000
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory restrictions on net assets
Total capitalization, percentage	35%
Distribution restrictions, percent of earnings in current year and 5 preceding years if capitalization rate is less than 35%	80%
Total capitalization rate of HEI's electric utility subsidiaries	57%
Common stock equity	$ 2,344,170	2,261,899	$ 2,141,918	$ 2,047,352
American Savings Bank (ASB)
Regulatory restrictions on net assets
Common stock equity	468,885	$ 727,818
Restrictions on transfer of net assets to the parent in the form of cash dividends, loans and advances	$ 194,000

Significant group concentrati_2

Significant group concentrations of credit risk (Details)	12 Months Ended
	Dec. 31, 2022
Major customers
Percentage of workforce covered by collective bargaining arrangement	50%
Percentage of benchmark loan to appraisal ratio in excess of which mortgage insurance is required	80%
American Savings Bank (ASB)
Major customers
Percentage of benchmark loan to appraisal ratio in excess of which mortgage insurance is required	80%

Fair value measurements - Fair

Fair value measurements - Fair Value Hierarchy of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial assets
Available-for-sale investment securities	$ 1,429,667	$ 2,574,618
Held-to-maturity investment securities	1,150,971
Derivative asset, statement of financial position		Other
Financial liabilities
Short-term borrowings—other than bank	172,568	$ 53,998
Other bank borrowings	$ 695,120	88,305
Derivative liability, statement of financial position	Other
Carrying or notional amount
Financial assets
Available-for-sale investment securities	$ 1,429,667	2,574,618
Held-to-maturity investment securities	1,251,747	522,270
Loans, net	5,907,514	5,150,388
Mortgage servicing rights	9,047	9,950
Derivative assets	16,220	57,377
Financial liabilities
Deposit liabilities	611,718	423,976
Short-term borrowings—other than bank	172,568	53,998
Other bank borrowings	695,120	88,305
Long-term debt, net	2,384,980	2,321,937
Derivative liabilities	22,949	57,000
Carrying or notional amount | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings	87,967
Long-term debt, net	1,684,816	1,676,402
Estimated fair value
Financial assets
Available-for-sale investment securities	1,429,667	2,574,618
Held-to-maturity investment securities	1,150,971	510,474
Loans, net	5,454,202	5,228,524
Mortgage servicing rights	17,646	14,480
Derivative assets	1,348	909
Financial liabilities
Deposit liabilities	597,617	442,361
Short-term borrowings—other than bank	172,568	53,998
Other bank borrowings	695,095	88,304
Long-term debt, net	2,122,605	2,624,130
Derivative liabilities	472	5,282
Estimated fair value | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings	87,967
Long-term debt, net	1,487,496	1,955,710
Estimated fair value | 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	18	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 | Level 1 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings	0
Long-term debt, net	0	0
Estimated fair value | Level 2
Financial assets
Available-for-sale investment securities	1,414,765	2,559,191
Held-to-maturity investment securities	1,150,971	510,474
Loans, net	821	10,403
Mortgage servicing rights	0	0
Derivative assets	1,330	909
Financial liabilities
Deposit liabilities	597,617	442,361
Short-term borrowings—other than bank	172,568	53,998
Other bank borrowings	695,095	88,304
Long-term debt, net	2,122,605	2,624,130
Derivative liabilities	472	5,271
Estimated fair value | Level 2 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings	87,967
Long-term debt, net	1,487,496	1,955,710
Estimated fair value | Level 3
Financial assets
Available-for-sale investment securities	14,902	15,427
Held-to-maturity investment securities	0	0
Loans, net	5,453,381	5,218,121
Mortgage servicing rights	17,646	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 | Level 3 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings	0
Long-term debt, net	$ 0	$ 0

Fair value measurements - Fai_2

Fair value measurements - Fair Value Measurements on a Recurring Basis (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	$ 1,429,667	$ 2,574,618
Measurement Input, Discount Rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Mortgage revenue bonds, measurement input	0.0489
Mortgage revenue bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, January 1	$ 15,427	27,185
Principal payments received	(525)	(11,758)
Purchases	0
Unrealized gain (loss) included in other comprehensive income	0	0
Balance, December 31	14,902	15,427
Fair value measurements on a recurring basis | Level 1
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	18	0
Derivative liabilities	0	11
Fair value measurements on a recurring basis | Level 1 | Bank
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | Bank | Interest rate lock commitments
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	0	0
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 1 | Bank | Forward commitments
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	18	0
Derivative liabilities	0	11
Fair value measurements on a recurring basis | Level 1 | Bank | Interest rate swap
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	0	0
Fair value measurements on a recurring basis | Level 1 | Bank | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | Bank | U.S. Treasury and federal agency obligations
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | Bank | Corporate bonds
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | Bank | Mortgage revenue bonds
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | Other | Interest rate swap
Fair value measurements on a recurring and nonrecurring basis
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 2
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	1,330	909
Derivative liabilities	472	5,271
Fair value measurements on a recurring basis | Level 2 | Bank
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	1,414,765	2,559,191
Fair value measurements on a recurring basis | Level 2 | Bank | Interest rate lock commitments
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	9	638
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 2 | Bank | Forward commitments
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	0	0
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 2 | Bank | Interest rate swap
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	1,321	271
Fair value measurements on a recurring basis | Level 2 | Bank | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	1,292,968	2,437,923
Fair value measurements on a recurring basis | Level 2 | Bank | U.S. Treasury and federal agency obligations
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	81,063	90,090
Fair value measurements on a recurring basis | Level 2 | Bank | Corporate bonds
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	40,734	31,178
Fair value measurements on a recurring basis | Level 2 | Bank | Mortgage revenue bonds
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 2 | Other | Interest rate swap
Fair value measurements on a recurring and nonrecurring basis
Derivative liabilities	472	5,271
Fair value measurements on a recurring basis | Level 3
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	0	0
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Bank
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	14,902	15,427
Fair value measurements on a recurring basis | Level 3 | Bank | Interest rate lock commitments
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	0	0
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Bank | Forward commitments
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	0	0
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Bank | Interest rate swap
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	0	0
Fair value measurements on a recurring basis | Level 3 | Bank | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3 | Bank | U.S. Treasury and federal agency obligations
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3 | Bank | Corporate bonds
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3 | Bank | Mortgage revenue bonds
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities	14,902	15,427
Fair value measurements on a recurring basis | Level 3 | Other | Interest rate swap
Fair value measurements on a recurring and nonrecurring basis
Derivative liabilities	$ 0	$ 0

SCHEDULE I - CONDENSED FINANC_2

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Accounts receivable	$ 511,903	$ 344,213
Property, plant and equipment, net	5,687,003	5,392,068
Other assets and intercompany receivables	824,536	747,469
Total assets	16,284,244	15,822,637	$ 15,004,007
Liabilities
Accounts payable	251,460	205,544
Long-term debt, net	2,384,980	2,321,937
Other	787,057	669,215
Total liabilities	14,047,452	13,397,460
Shareholders’ equity
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	0	0
Common stock equity	1,692,697	1,685,496
Retained earnings	845,830	757,921
Accumulated other comprehensive loss, net of tax benefits	(336,028)	(52,533)
Total shareholders’ equity	2,202,499	2,390,884	$ 2,337,502	$ 2,280,260
Total capitalization and liabilities	$ 16,284,244	$ 15,822,637
Preferred stock, authorized shares (in shares)	10,000,000	10,000,000
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, issued shares (in shares)	109,470,795	109,311,785
Common stock, outstanding shares (in shares)	109,470,795	109,311,785
Hawaiian Electric (parent only)
Assets
Cash and cash equivalents	$ 611	$ 479
Accounts receivable	946	873
Notes receivable from subsidiaries	1,140	0
Property, plant and equipment, net	1,877	2,052
Deferred income tax assets	12,107	17,000
Other assets and intercompany receivables	17,695	15,940
Investments in subsidiaries, at equity	2,894,856	3,025,729
Total assets	2,929,232	3,062,073
Liabilities
Accounts payable	797	914
Interest payable	1,554	2,238
Commercial paper	49,683	53,998
Short-term borrowings from non-affiliate	34,918	0
Long-term debt, net	557,874	548,480
Retirement benefits liability	21,983	26,340
Other	59,924	39,219
Total liabilities	726,733	671,189
Shareholders’ equity
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	0	0
Common stock equity	1,692,697	1,685,496
Retained earnings	845,830	757,921
Accumulated other comprehensive loss, net of tax benefits	(336,028)	(52,533)
Total shareholders’ equity	2,202,499	2,390,884
Total capitalization and liabilities	$ 2,929,232	$ 3,062,073
Preferred stock, authorized shares (in shares)	10,000,000	10,000,000
Preferred stock, issued shares (in shares)	0	0
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, issued shares (in shares)	109,470,795	109,311,785
Common stock, outstanding shares (in shares)	109,470,795	109,311,785

SCHEDULE I - CONDENSED FINANC_3

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - STATEMENTS OF INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Revenues	$ 3,465,215	$ 2,521,425
Expenses:
Depreciation of property, plant and equipment	256,069	246,158	$ 238,114
Total expenses	3,360,912	2,464,313	2,268,282
Less: Retirement defined benefits expense (credit)—other than service costs	(4,411)	(5,848)	3,210
Interest expense	116,703	99,403	99,808
Income before income taxes	304,195	310,863	240,624
Income tax benefits	(61,167)	(62,807)	(40,910)
Net income for common stock	241,138	246,166	197,824
Hawaiian Electric (parent only)
Revenues
Revenues	320	105	208
Equity in net income of subsidiaries	273,076	278,743	227,098
Expenses:
Operating, administrative and general	20,850	24,006	20,731
Depreciation of property, plant and equipment	399	414	485
Taxes, other than income taxes	732	514	654
Total expenses	21,981	24,934	21,870
Income before interest expense and income tax benefits	251,415	253,914	205,436
Less: Retirement defined benefits expense (credit)—other than service costs	147	(114)	634
Interest expense	21,997	18,444	18,237
Income before income taxes	229,271	235,584	186,565
Income tax benefits	11,867	10,582	11,259
Net income for common stock	$ 241,138	$ 246,166	$ 197,824

SCHEDULE I - CONDENSED FINANC_4

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net cash provided by operating activities	$ 454,476	$ 375,673	$ 429,407
Cash flows from investing activities
Capital expenditures	(344,037)	(314,524)	(383,895)
Other, net	13,046	27	3,412
Net cash used in investing activities	(1,128,682)	(1,179,592)	(1,413,648)
Cash flows from financing activities
Net decrease in short-term borrowings with original maturities of three months or less	83,652	(10,493)	(71,219)
Proceeds from issuance of short-term debt	35,000	0	165,000
Repayment of short-term debt	0	(65,000)	(150,000)
Proceeds from issuance of long-term debt	227,312	285,886	415,997
Repayment of long-term debt	(221,910)	(82,262)	(178,969)
Withheld shares for employee taxes on vested share-based compensation	(3,165)	(2,006)	(5,700)
Common stock dividends	(153,229)	(148,643)	(144,096)
Other	(2,398)	(3,080)	(3,203)
Net cash used in financing activities	567,671	756,402	1,115,535
Net increase (decrease) in cash and equivalents	(106,535)	(47,517)	131,294
Cash, cash equivalents and restricted cash, January 1	311,462	358,979	227,685
Cash, cash equivalents and restricted cash, December 31	204,927	311,462	358,979
Hawaiian Electric (parent only)
Cash flows from operating activities
Net cash provided by operating activities	167,150	154,151	134,363
Cash flows from investing activities
Increase in note receivable from subsidiary	(1,140)	0	0
Decrease in note receivable from subsidiary	0	0	22,719
Capital expenditures	(224)	(10)	(20)
Investments in subsidiaries	(50,629)	(76,232)	(42,664)
Other, net	1,662	180	2,435
Net cash used in investing activities	(50,331)	(76,062)	(17,530)
Cash flows from financing activities
Net decrease in short-term borrowings with original maturities of three months or less	(4,315)	(10,493)	(32,232)
Proceeds from issuance of short-term debt	35,000	0	65,000
Repayment of short-term debt	0	(15,000)	(50,000)
Proceeds from issuance of long-term debt	160,000	150,000	50,000
Repayment of long-term debt	(150,000)	(50,000)	0
Proceeds from issuance of syndicated credit facility	0	0	66,300
Repayment of syndicated credit facility	0	0	(66,300)
Withheld shares for employee taxes on vested share-based compensation	(3,165)	(2,006)	(5,700)
Common stock dividends	(153,229)	(148,643)	(144,096)
Other	(978)	(1,767)	(459)
Net cash used in financing activities	(116,687)	(77,909)	(117,487)
Net increase (decrease) in cash and equivalents	132	180	(654)
Cash, cash equivalents and restricted cash, January 1	479	299	953
Cash, cash equivalents and restricted cash, December 31	$ 611	$ 479	$ 299

SCHEDULE I - CONDENSED FINANC_5

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Less unamortized debt issuance costs and debt discount	$ (8,165)	$ (3,164)
Long-term debt, net—other than bank	2,384,980	2,321,937
Aggregate principal payments, fiscal year maturity:
2023	172,000
2024	13,000
2025	109,000
2026	136,000
2027	112,000
Hawaiian Electric (parent only)
Condensed Financial Statements, Captions [Line Items]
Less unamortized debt issuance costs and debt discount	(2,126)	(1,520)
Long-term debt, net—other than bank	557,874	548,480
Aggregate principal payments, fiscal year maturity:
2023	50,000
2024	0
2025	50,000
2026	0
2027	0
Thereafter	460,000
Cash dividends paid	168,000	172,000	$ 145,000
Hawaiian Electric (parent only) | ASB Hawaii, Inc. | Consolidated subsidiary
Aggregate principal payments, fiscal year maturity:
Accounts receivable reduction	1,900	2,100	2,300
HEI notes payable increase to ASHI	1,900	2,100	$ 2,300
Hawaiian Electric (parent only) | HEI 2.99% term loan, paid in 2022
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 0	150,000
Debt instrument, stated interest rate	2.99%
Hawaiian Electric (parent only) | HEI 3.99% senior notes, due 2023
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 50,000	50,000
Debt instrument, stated interest rate	3.99%
Hawaiian Electric (parent only) | HEI 4.58% senior notes, due 2025
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 50,000	50,000
Debt instrument, stated interest rate	4.58%
Hawaiian Electric (parent only) | HEI 4.72% senior notes, due 2028
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 100,000	100,000
Debt instrument, stated interest rate	4.72%
Hawaiian Electric (parent only) | HEI 2.82% senior notes, due 2028
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 24,000	24,000
Debt instrument, stated interest rate	2.82%
Hawaiian Electric (parent only) | HEI 2.48% senior notes, due 2028
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 30,000	30,000
Debt instrument, stated interest rate	2.48%
Hawaiian Electric (parent only) | HEI 2.98% senior notes, due 2030
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 50,000	50,000
Debt instrument, stated interest rate	2.98%
Hawaiian Electric (parent only) | HEI 3.15% senior notes, due 2031
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 51,000	51,000
Debt instrument, stated interest rate	3.15%
Hawaiian Electric (parent only) | HEI 2.78% senior notes, due 2031
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 25,000	25,000
Debt instrument, stated interest rate	2.78%
Hawaiian Electric (parent only) | HEI 2.98% senior notes, due 2032
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 30,000	0
Debt instrument, stated interest rate	2.98%
Hawaiian Electric (parent only) | HEI 5.43% senior notes, due 2032
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 75,000	0
Debt instrument, stated interest rate	5.43%
Hawaiian Electric (parent only) | HEI 5.43% senior notes, due 2034
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 35,000	0
Debt instrument, stated interest rate	5.43%
Hawaiian Electric (parent only) | HEI 3.74% senior notes, due 2051
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 20,000	20,000
Debt instrument, stated interest rate	3.74%
Hawaiian Electric (parent only) | HEI 3.94% senior notes, due 2052
Condensed Financial Statements, Captions [Line Items]
Gross long-term debt	$ 20,000	$ 0
Debt instrument, stated interest rate	3.94%

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Valuation and qualifying accounts
Bad debt expenses deferred to regulatory assets	$ 16,200	$ 10,700	$ 16,700
Bill credits		2,000
Allowance for uncollectible accounts – electric utility | Hawaiian Electric Company, Inc. and Subsidiaries
Valuation and qualifying accounts
Balance at begin- ning of period	26,100	17,809	1,377
Charged to costs and expenses	6,028	4,183	2,100
Charged to other accounts	(14,626)	11,795	18,041
Deductions	11,391	7,687	3,709
Balance at end of period	$ 6,111	$ 26,100	$ 17,809