Hawaiian Electric Company, Inc. PFD C 4.25% (HAWEN) 10-Q 8 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity Registrant Name	HAWAIIAN ELECTRIC INDUSTRIES, INC.
Entity File Number	1-8503
Entity Tax Identification Number	99-0208097
Entity Incorporation, State or Country Code	HI
Entity Address, Address Line One	1001 Bishop Street
Entity Address, Address Line Two	Suite 2900
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-5662
Title of 12(b) Security	Common Stock, Without Par Value
Trading Symbol(s)	HE
Name of each exchange on which registered	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		172,465,608
Entity Central Index Key	0000354707
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Hawaiian Electric Company, Inc. and Subsidiaries
Entity Information [Line Items]
Document Type	10-Q
Entity Registrant Name	HAWAIIAN ELECTRIC COMPANY, INC.
Entity File Number	1-4955
Entity Tax Identification Number	99-0040500
Entity Incorporation, State or Country Code	HI
Entity Address, Address Line One	1099 Alakea Street
Entity Address, Address Line Two	Suite 2200
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-7771
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,854,278
Entity Central Index Key	0000046207
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues
Revenues	$ 938,383	$ 901,873	$ 2,732,901	$ 2,725,795
Expenses
Total expenses	1,064,931	826,762	4,502,005	2,464,187
Operating income (loss)
Total operating income (loss)	(126,548)	75,111	(1,769,104)	261,608
Retirement defined benefits credit—other than service costs	1,106	1,256	3,669	3,561
Interest expense, net—other than on deposit liabilities and other bank borrowings	(32,085)	(32,629)	(96,076)	(91,259)
Allowance for borrowed funds used during construction	1,331	1,372	4,061	3,798
Allowance for equity funds used during construction	3,300	4,000	10,276	11,073
Interest income	3,662	0	9,929	0
Income (loss) before income taxes	(149,234)	49,110	(1,837,245)	188,781
Income tax expense (benefit)	(45,303)	7,521	(480,898)	36,915
Net income (loss)	(103,931)	41,589	(1,356,347)	151,866
Preferred stock dividends of subsidiaries	471	471	1,417	1,417
Net income (loss) for common stock	$ (104,402)	$ 41,118	$ (1,357,764)	$ 150,449
Basic earnings (loss) per common share (in dollars per share)	$ (0.91)	$ 0.37	$ (12.16)	$ 1.37
Diluted earnings (loss) per common share (in dollars per share)	$ (0.91)	$ 0.37	$ (12.16)	$ 1.37
Weighted-average number of common shares outstanding:
Basic (in shares)	114,358	109,728	111,636	109,606
Diluted (in shares)	114,358	109,917	111,636	109,932
Electric utility
Revenues
Revenues	$ 829,617	$ 794,987	$ 2,410,526	$ 2,419,539
Expenses
Total expenses	934,181	723,629	4,096,175	2,198,681
Operating income (loss)
Total operating income (loss)	(104,564)	71,358	(1,685,649)	220,858
Income (loss) before income taxes	(117,526)	55,415	(1,725,279)	175,391
Income tax expense (benefit)	(35,439)	11,456	(454,017)	38,126
Net income (loss)	(82,087)	43,959	(1,271,262)	137,265
Preferred stock dividends of subsidiaries	498	498	1,496	1,496
Net income (loss) for common stock	(82,585)	43,461	(1,272,758)	135,769
Bank
Revenues
Revenues	105,144	100,974	312,231	291,716
Expenses
Total expenses	81,972	88,415	320,913	230,769
Operating income (loss)
Total operating income (loss)	23,172	12,559	(8,682)	60,947
Income (loss) before income taxes	23,429	12,749	(7,864)	61,511
Income tax expense (benefit)	4,651	1,384	(1,789)	11,380
Net income (loss)	18,778	11,365	(6,075)	50,131
Preferred stock dividends of subsidiaries	0	0	0	0
Net income (loss) for common stock	18,778	11,365	(6,075)	50,131
Other
Revenues
Revenues	3,622	5,912	10,144	14,540
Expenses
Total expenses	48,778	14,718	84,917	34,737
Operating income (loss)
Total operating income (loss)	(45,156)	(8,806)	(74,773)	(20,197)
Income (loss) before income taxes	(55,137)	(19,054)	(104,102)	(48,121)
Income tax expense (benefit)	(14,515)	(5,319)	(25,092)	(12,591)
Net income (loss)	(40,622)	(13,735)	(79,010)	(35,530)
Preferred stock dividends of subsidiaries	(27)	(27)	(79)	(79)
Net income (loss) for common stock	$ (40,595)	$ (13,708)	$ (78,931)	$ (35,451)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss) for common stock	$ (104,402)	$ 41,118	$ (1,357,764)	$ 150,449
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 $13,470, $(13,918), $7,878 and $(11,860), respectively	36,795	(38,016)	21,520	(32,395)
Amortization of unrealized holding losses on held-to-maturity securities, net of taxes of $1,231, $1,354, $3,565 and $4,050, respectively	3,366	3,699	9,740	11,065
Derivatives qualifying as cash flow hedges:
Unrealized interest rate hedging losses arising during the period, net of taxes of $(291), $(185), $(24) and $(237), respectively	(838)	(535)	(69)	(684)
Reclassification adjustment to net income, net of taxes of $(18), $(17), $(52) and $(50), respectively	(52)	(47)	(151)	(143)
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes of $(431), $(153), $(740) and $(397), respectively	(1,244)	(446)	(2,138)	(1,160)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $462, $163, $781 and $458, respectively	1,333	470	2,251	1,321
Other comprehensive income (loss), net of taxes	39,360	(34,875)	31,153	(21,996)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ (65,042)	$ 6,243	$ (1,326,611)	$ 128,453

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net unrealized gains (losses) on available-for-sale investment securities:
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, tax	$ 13,470	$ (13,918)	$ 7,878	$ (11,860)
Amortization of unrealized holding losses on held-to-maturity securities, net of taxes	1,231	1,354	3,565	4,050
Derivatives qualifying as cash flow hedges:
Unrealized interest rate hedging arising during the period, tax	(291)	(185)	(24)	(237)
Reclassification adjustment for net unrealized losses included in net income, tax	(18)	(17)	(52)	(50)
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, tax	(431)	(153)	(740)	(397)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	$ 462	$ 163	$ 781	$ 458

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 1,159,635	$ 679,546
Restricted cash	13,645	15,028
Accounts receivable and unbilled revenues, net	526,717	575,176
Available-for-sale investment securities, at fair value	1,084,083	1,136,439
Held-to-maturity investment securities, at amortized cost	1,159,229	1,201,314
Stock in Federal Home Loan Bank, at cost	29,204	14,728
Loans held for investment, net	5,972,614	6,106,438
Loans held for sale, at lower of cost or fair value	2,704	15,168
Property, plant and equipment, net of accumulated depreciation of $3,457,283 and $3,317,759 at September 30, 2024 and December 31, 2023, respectively	6,296,088	6,150,126
Operating lease right-of-use assets	84,645	94,905
Regulatory assets	314,247	294,804
Other	1,088,417	877,959
Goodwill	0	82,190
Total assets	17,731,228	17,243,821
Liabilities
Accounts payable	255,634	247,462
Interest and dividends payable	50,076	51,206
Deposit liabilities	7,999,210	8,145,778
Other bank borrowings	520,000	750,000
Long-term debt, net—other than bank	2,836,539	2,842,429
Deferred income taxes	0	297,954
Operating lease liabilities	91,781	103,900
Finance lease liabilities	441,089	339,040
Regulatory liabilities	1,191,099	1,150,690
Defined benefit pension and other postretirement benefit plans liability	83,007	82,879
Wildfire tort-related claims	1,915,000	75,000
Other	736,459	778,349
Total liabilities	16,119,894	14,864,687
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293	34,293
Commitments and contingencies (Notes 2, 4 and 5)
Shareholders’ equity
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	0	0
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 172,465,608 shares and 110,151,798 shares at September 30, 2024 and December 31, 2023, respectively	2,266,282	1,707,471
Retained earnings (deficit)	(431,044)	926,720
Accumulated other comprehensive loss, net of tax benefits	(258,197)	(289,350)
Total shareholders’ equity	1,577,041	2,344,841
Total liabilities and shareholders’ equity	$ 17,731,228	$ 17,243,821

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Property, plant and equipment, accumulated depreciation	$ 3,457,283	$ 3,317,759
Shareholders’ equity
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized shares (in shares)	10,000,000	10,000,000
Preferred stock, issued shares (in shares)	0	0
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	172,465,608	110,151,798
Common stock, shares outstanding (in shares)	172,465,608	110,151,798

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common stock	Retained earnings	Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2022		109,471,000
Beginning balance at Dec. 31, 2022	$ 2,202,499	$ 1,692,697	$ 845,830	$ (336,028)
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	54,721		54,721
Other comprehensive income (loss), net of tax benefits	20,488			20,488
Share-based expenses and other, net and Common stock offering (in shares)		101,000
Share-based expenses and other, net	(307)	$ (307)
Common stock dividends	(39,446)		(39,446)
Ending balance (in shares) at Mar. 31, 2023		109,572,000
Ending balance at Mar. 31, 2023	2,237,955	$ 1,692,390	861,105	(315,540)
Beginning balance (in shares) at Dec. 31, 2022		109,471,000
Beginning balance at Dec. 31, 2022	2,202,499	$ 1,692,697	845,830	(336,028)
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	150,449
Other comprehensive income (loss), net of tax benefits	(21,996)
Ending balance (in shares) at Sep. 30, 2023		110,086,000
Ending balance at Sep. 30, 2023	2,224,354	$ 1,704,447	877,931	(358,024)
Beginning balance (in shares) at Mar. 31, 2023		109,572,000
Beginning balance at Mar. 31, 2023	2,237,955	$ 1,692,390	861,105	(315,540)
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	54,610		54,610
Other comprehensive income (loss), net of tax benefits	(7,609)			(7,609)
Share-based expenses and other, net and Common stock offering (in shares)		40,000
Share-based expenses and other, net	3,868	$ 3,868
Common stock dividends	(39,447)		(39,447)
Ending balance (in shares) at Jun. 30, 2023		109,612,000
Ending balance at Jun. 30, 2023	2,249,377	$ 1,696,258	876,268	(323,149)
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	41,118		41,118
Other comprehensive income (loss), net of tax benefits	(34,875)			(34,875)
Share-based expenses and other, net	2,362	$ 2,362
Dividend reinvestment and stock purchase plan (in shares)		474,000
Dividend reinvestment and stock purchase plan	5,827	$ 5,827
Common stock dividends	(39,455)		(39,455)
Ending balance (in shares) at Sep. 30, 2023		110,086,000
Ending balance at Sep. 30, 2023	$ 2,224,354	$ 1,704,447	877,931	(358,024)
Beginning balance (in shares) at Dec. 31, 2023	110,151,798	110,152,000
Beginning balance at Dec. 31, 2023	$ 2,344,841	$ 1,707,471	926,720	(289,350)
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	42,122		42,122
Other comprehensive income (loss), net of tax benefits	(9,801)			(9,801)
Share-based expenses and other, net and Common stock offering (in shares)		151,000
Share-based expenses and other, net	218	$ 218
Ending balance (in shares) at Mar. 31, 2024		110,303,000
Ending balance at Mar. 31, 2024	$ 2,377,380	$ 1,707,689	968,842	(299,151)
Beginning balance (in shares) at Dec. 31, 2023	110,151,798	110,152,000
Beginning balance at Dec. 31, 2023	$ 2,344,841	$ 1,707,471	926,720	(289,350)
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	(1,357,764)
Other comprehensive income (loss), net of tax benefits	$ 31,153
Ending balance (in shares) at Sep. 30, 2024	172,465,608	172,466,000
Ending balance at Sep. 30, 2024	$ 1,577,041	$ 2,266,282	(431,044)	(258,197)
Beginning balance (in shares) at Mar. 31, 2024		110,303,000
Beginning balance at Mar. 31, 2024	2,377,380	$ 1,707,689	968,842	(299,151)
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	(1,295,484)		(1,295,484)
Other comprehensive income (loss), net of tax benefits	1,594			1,594
Share-based expenses and other, net	1,783	$ 1,783
Ending balance (in shares) at Jun. 30, 2024		110,303,000
Ending balance at Jun. 30, 2024	1,085,273	$ 1,709,472	(326,642)	(297,557)
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	(104,402)		(104,402)
Other comprehensive income (loss), net of tax benefits	39,360			39,360
Share-based expenses and other, net and Common stock offering (in shares)		62,163,000
Common stock offering	575,000	$ 575,000
Share-based expenses and other, net	$ (18,190)	$ (18,190)
Ending balance (in shares) at Sep. 30, 2024	172,465,608	172,466,000
Ending balance at Sep. 30, 2024	$ 1,577,041	$ 2,266,282	$ (431,044)	$ (258,197)

Condensed Consolidated Statem_5

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

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income (loss)	$ (1,356,347)	$ 151,866
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation of property, plant and equipment	204,887	200,722
Other amortization	37,123	32,744
Provision for credit losses	(3,821)	10,053
Loans originated, held for sale	(83,552)	(37,288)
Proceeds from sale of loans, held for sale	85,389	36,086
Gain on sale of loans, net	(1,151)	(701)
Deferred income tax benefit	(513,917)	(5,594)
Share-based compensation expense	3,161	8,281
Allowance for equity funds used during construction	(10,276)	(11,073)
Goodwill impairment	82,190	0
Asset impairment	39,642	0
Other	(7,660)	(5,315)
Changes in assets and liabilities
Decrease in accounts receivable and unbilled revenues, net	48,772	41,494
Decrease in fuel oil stock	38,152	38,587
Decrease (increase) in materials and supplies	440	(20,006)
Decrease (increase) in regulatory assets	(13,263)	13,908
Increase in regulatory liabilities	33,461	32,454
Increase in accounts, interest and dividends payable	46,289	70,850
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(35,021)	(24,860)
Decrease in defined benefit pension and other postretirement benefit plans liability	(6,694)	(6,722)
Increase in wildfire tort-related claims	1,840,000	75,000
Change in other assets and liabilities	(76,893)	(125,348)
Net cash provided by (used in) operating activities	350,911	475,138
Cash flows from investing activities
Principal repayments on available-for-sale investment securities	79,742	117,042
Proceeds from repayments or maturities of held-to-maturity investment securities	53,032	52,823
Purchase of stock from Federal Home Loan Bank	(36,121)	(76,040)
Redemption of stock from Federal Home Loan Bank	21,645	84,600
Net decrease (increase) in loans held for investment	110,788	(283,126)
Proceeds from sale of commercial loans	40,186	94,665
Purchase of loans held for investment	0	(26,195)
Capital expenditures	(258,645)	(342,364)
Contributions to low income housing investments	(33,545)	(418)
Other	(1,142)	9,375
Net cash used in investing activities	(24,060)	(369,638)
Cash flows from financing activities
Net decrease in deposit liabilities	(146,568)	(43,655)
Net decrease in short-term borrowings with original maturities of three months or less	0	(137,650)
Net decrease in other bank borrowings with original maturities of three months or less	0	(596,810)
Proceeds from issuance of short-term debt	0	65,000
Repayment of short-term debt	0	(100,000)
Proceeds from issuance of other bank borrowings	320,000	1,000,000
Repayment of other bank borrowings	(550,000)	(250,000)
Proceeds from issuance of long-term debt	5,204	625,000
Repayment of long-term debt	(12,865)	(64,317)
Withheld shares for employee taxes on vested share-based compensation	(1,074)	(2,356)
Net proceeds from issuance of common stock	556,724	437
Common stock dividends	0	(112,957)
Preferred stock dividends of subsidiaries	(1,417)	(1,417)
Other	(18,149)	(9,409)
Net cash provided by (used in) financing activities	151,855	371,866
Net increase in cash, cash equivalents and restricted cash	478,706	477,366
Cash, cash equivalents and restricted cash, beginning of period	694,574	204,927
Cash, cash equivalents and restricted cash, end of period	1,173,280	682,293
Less: Restricted cash	(13,645)	(15,164)
Cash and cash equivalents	$ 1,159,635	$ 667,129

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues
Revenues	$ 938,383			$ 901,873			$ 2,732,901	$ 2,725,795
Expenses
Total expenses	1,064,931			826,762			4,502,005	2,464,187
Total operating income (loss)	(126,548)			75,111			(1,769,104)	261,608
Allowance for equity funds used during construction	3,300			4,000			10,276	11,073
Retirement defined benefits credit—other than service costs	1,106			1,256			3,669	3,561
Allowance for borrowed funds used during construction	1,331			1,372			4,061	3,798
Interest income	3,662			0			9,929	0
Income (loss) before income taxes	(149,234)			49,110			(1,837,245)	188,781
Income tax expense (benefit)	(45,303)			7,521			(480,898)	36,915
Net income (loss)	(103,931)			41,589			(1,356,347)	151,866
Preferred stock dividends of Hawaiian Electric	471			471			1,417	1,417
Net income (loss) for common stock	(104,402)	$ (1,295,484)	$ 42,122	41,118	$ 54,610	$ 54,721	(1,357,764)	150,449
Hawaiian Electric Company, Inc. and Subsidiaries
Revenues
Revenues	829,617			794,987			2,410,526	2,419,539
Expenses
Fuel oil	279,038			267,438			821,986	881,692
Purchased power	189,165			177,795			530,310	498,990
Other operation and maintenance	162,197			142,508			453,648	407,184
Wildfire tort-related claims	163,000			0			1,875,000	0
Depreciation	62,812			61,165			188,436	182,781
Taxes, other than income taxes	77,969			74,723			226,795	228,034
Total expenses	934,181			723,629			4,096,175	2,198,681
Total operating income (loss)	(104,564)			71,358			(1,685,649)	220,858
Allowance for equity funds used during construction	3,300			4,000			10,276	11,073
Retirement defined benefits credit—other than service costs	959			1,132			3,103	3,227
Interest expense and other charges, net	(20,223)			(22,447)			(61,625)	(63,565)
Allowance for borrowed funds used during construction	1,331			1,372			4,061	3,798
Interest income	1,671			0			4,555	0
Income (loss) before income taxes	(117,526)			55,415			(1,725,279)	175,391
Income tax expense (benefit)	(35,439)			11,456			(454,017)	38,126
Net income (loss)	(82,087)			43,959			(1,271,262)	137,265
Preferred stock dividends of subsidiaries	228			228			686	686
Net income (loss)	(82,315)			43,731			(1,271,948)	136,579
Preferred stock dividends of Hawaiian Electric	270			270			810	810
Net income (loss) for common stock	$ (82,585)	$ (1,229,394)	$ 39,221	$ 43,461	$ 45,299	$ 47,009	$ (1,272,758)	$ 135,769

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Comprehensive Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income (loss) for common stock	$ (104,402)	$ (1,295,484)	$ 42,122	$ 41,118	$ 54,610	$ 54,721	$ (1,357,764)	$ 150,449
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes of $(462), $(190), $(813) and $(516), respectively	(1,244)			(446)			(2,138)	(1,160)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $462, $163, $781 and $458, respectively	1,333			470			2,251	1,321
Other comprehensive income (loss), net of taxes	39,360	1,594	(9,801)	(34,875)	(7,609)	20,488	31,153	(21,996)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(65,042)			6,243			(1,326,611)	128,453
Hawaiian Electric Company, Inc. and Subsidiaries
Net income (loss) for common stock	(82,585)	(1,229,394)	39,221	43,461	45,299	47,009	(1,272,758)	135,769
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes of $(462), $(190), $(813) and $(516), respectively	(1,331)			(547)			(2,344)	(1,487)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $462, $163, $781 and $458, respectively	1,333			470			2,251	1,321
Other comprehensive income (loss), net of taxes	2	$ (46)	$ (49)	(77)	$ (44)	$ (45)	(93)	(166)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ (82,583)			$ 43,384			$ (1,272,851)	$ 135,603

Condensed Consolidated Statem_9

Condensed Consolidated Statements of Comprehensive Income (unaudited) - HECO (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	$ (431)	$ (153)	$ (740)	$ (397)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	462	163	781	458
Hawaiian Electric Company, Inc. and Subsidiaries
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	(462)	(190)	(813)	(516)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	$ 462	$ 163	$ 781	$ 458

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheets (unaudited) - HECO - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Utility property, plant and equipment
Total property, plant and equipment, net	$ 6,296,088	$ 6,150,126
Current assets
Cash and cash equivalents	1,159,635	679,546
Restricted cash	13,645	15,028
Other long-term assets
Operating lease right-of-use assets	84,645	94,905
Total assets	17,731,228	17,243,821
Capitalization
Retained earnings (deficit)	(431,044)	926,720
Accumulated other comprehensive income, net of taxes-retirement benefit plans	(258,197)	(289,350)
Common stock equity	1,577,041	2,344,841
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Commitments and contingencies (Notes 2 and 4)
Current liabilities
Interest and preferred dividends payable	50,076	51,206
Deferred credits and other liabilities
Deferred income taxes	0	297,954
Total liabilities and shareholders’ equity	17,731,228	17,243,821
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Land	52,019	52,098
Plant and equipment	8,413,151	8,232,810
Right-of-use assets - finance lease	449,572	342,174
Less accumulated depreciation	(3,323,190)	(3,197,514)
Construction in progress	346,673	320,223
Utility property, plant and equipment, net	5,938,225	5,749,791
Nonutility property, plant and equipment, less accumulated depreciation of $42 and $40 as of September 30, 2024 and December 31, 2023, respectively	6,939	6,942
Total property, plant and equipment, net	5,945,164	5,756,733
Current assets
Cash and cash equivalents	147,624	106,077
Restricted cash	2,000	2,000
Customer accounts receivable, net	207,953	244,309
Accrued unbilled revenues, net	199,657	185,644
Other accounts receivable, net	85,488	111,519
Fuel oil stock, at average cost	109,043	148,237
Materials and supplies, at average cost	114,054	114,433
Prepayments and other	94,823	58,491
Regulatory assets	59,836	68,453
Total current assets	1,020,478	1,039,163
Other long-term assets
Operating lease right-of-use assets	61,007	71,877
Regulatory assets	254,411	226,351
Other	282,144	189,430
Total other long-term assets	597,562	487,658
Total assets	7,563,204	7,283,554
Capitalization
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 17,854,278 shares at September 30, 2024 and December 31, 2023)	119,048	119,048
Premium on capital stock	810,955	810,955
Retained earnings (deficit)	177,500	1,476,258
Accumulated other comprehensive income, net of taxes-retirement benefit plans	2,756	2,849
Common stock equity	1,110,259	2,409,110
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,888,003	1,934,277
Total capitalization	3,032,555	4,377,680
Commitments and contingencies (Notes 2 and 4)
Current liabilities
Current portion of operating lease liabilities	15,411	16,617
Current portion of long-term debt, net	46,977	0
Accounts payable	202,427	191,040
Interest and preferred dividends payable	29,817	22,882
Taxes accrued, including revenue taxes	261,653	291,942
Regulatory liabilities	25,684	36,559
Wildfire tort-related claims (Note 2)	478,750	75,000
Other	113,695	96,436
Total current liabilities	1,174,414	730,476
Deferred credits and other liabilities
Operating lease liabilities	51,096	62,098
Finance lease liabilities	430,923	330,978
Deferred income taxes	0	399,001
Regulatory liabilities	1,165,415	1,114,131
Unamortized tax credits	78,206	84,312
Defined benefit pension liability	60,881	60,671
Wildfire tort-related claims (Note 2)	1,436,250	0
Other	133,464	124,207
Total deferred credits and other liabilities	3,356,235	2,175,398
Total liabilities and shareholders’ equity	$ 7,563,204	$ 7,283,554

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheets (unaudited) - HECO (parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Shareholders’ equity
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, shares outstanding (in shares)	172,465,608	110,151,798
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Accumulated depreciation on other property, plant and equipment	$ 42	$ 40
Shareholders’ equity
Common stock, par value (in dollars per share)	$ 6.67	$ 6.67
Common stock, authorized shares (in shares)	50,000,000	50,000,000
Common stock, shares outstanding (in shares)	17,854,278	17,854,278

Condensed Consolidated State_10

Condensed Consolidated Statements of Changes in Common Stock Equity (unaudited) - HECO - USD ($) $ in Thousands	Total	Hawaiian Electric Company, Inc. and Subsidiaries	Common stock	Common stock Hawaiian Electric Company, Inc. and Subsidiaries	Premium on capital stock Hawaiian Electric Company, Inc. and Subsidiaries	Retained earnings	Retained earnings Hawaiian Electric Company, Inc. and Subsidiaries	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) Hawaiian Electric Company, Inc. and Subsidiaries
Beginning balance (in shares) at Dec. 31, 2022			109,471,000	17,854,000
Beginning balance at Dec. 31, 2022	$ 2,202,499	$ 2,344,170	$ 1,692,697	$ 119,048	$ 810,955	$ 845,830	$ 1,411,306	$ (336,028)	$ 2,861
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	54,721	47,009				54,721	47,009
Other comprehensive income (loss), net of tax benefits	20,488	(45)						20,488	(45)
Common stock dividends	(39,446)	(32,250)				(39,446)	(32,250)
Ending balance (in shares) at Mar. 31, 2023			109,572,000	17,854,000
Ending balance at Mar. 31, 2023	2,237,955	2,358,884	$ 1,692,390	$ 119,048	810,955	861,105	1,426,065	(315,540)	2,816
Beginning balance (in shares) at Dec. 31, 2022			109,471,000	17,854,000
Beginning balance at Dec. 31, 2022	2,202,499	2,344,170	$ 1,692,697	$ 119,048	810,955	845,830	1,411,306	(336,028)	2,861
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	150,449	135,769
Other comprehensive income (loss), net of tax benefits	(21,996)	(166)
Common stock dividends		(96,750)
Ending balance (in shares) at Sep. 30, 2023			110,086,000	17,854,000
Ending balance at Sep. 30, 2023	2,224,354	2,383,023	$ 1,704,447	$ 119,048	810,955	877,931	1,450,325	(358,024)	2,695
Beginning balance (in shares) at Mar. 31, 2023			109,572,000	17,854,000
Beginning balance at Mar. 31, 2023	2,237,955	2,358,884	$ 1,692,390	$ 119,048	810,955	861,105	1,426,065	(315,540)	2,816
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	54,610	45,299				54,610	45,299
Other comprehensive income (loss), net of tax benefits	(7,609)	(44)						(7,609)	(44)
Common stock dividends	(39,447)	(32,250)				(39,447)	(32,250)
Ending balance (in shares) at Jun. 30, 2023			109,612,000	17,854,000
Ending balance at Jun. 30, 2023	2,249,377	2,371,889	$ 1,696,258	$ 119,048	810,955	876,268	1,439,114	(323,149)	2,772
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	41,118	43,461				41,118	43,461
Other comprehensive income (loss), net of tax benefits	(34,875)	(77)						(34,875)	(77)
Common stock dividends	(39,455)	(32,250)				(39,455)	(32,250)
Ending balance (in shares) at Sep. 30, 2023			110,086,000	17,854,000
Ending balance at Sep. 30, 2023	$ 2,224,354	2,383,023	$ 1,704,447	$ 119,048	810,955	877,931	1,450,325	(358,024)	2,695
Beginning balance (in shares) at Dec. 31, 2023	110,151,798		110,152,000	17,854,000
Beginning balance at Dec. 31, 2023	$ 2,344,841	2,409,110	$ 1,707,471	$ 119,048	810,955	926,720	1,476,258	(289,350)	2,849
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	42,122	39,221				42,122	39,221
Other comprehensive income (loss), net of tax benefits	(9,801)	(49)						(9,801)	(49)
Common stock dividends		(13,000)					(13,000)
Ending balance (in shares) at Mar. 31, 2024			110,303,000	17,854,000
Ending balance at Mar. 31, 2024	$ 2,377,380	2,435,282	$ 1,707,689	$ 119,048	810,955	968,842	1,502,479	(299,151)	2,800
Beginning balance (in shares) at Dec. 31, 2023	110,151,798		110,152,000	17,854,000
Beginning balance at Dec. 31, 2023	$ 2,344,841	2,409,110	$ 1,707,471	$ 119,048	810,955	926,720	1,476,258	(289,350)	2,849
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	(1,357,764)	(1,272,758)
Other comprehensive income (loss), net of tax benefits	$ 31,153	(93)
Common stock dividends		(26,000)
Ending balance (in shares) at Sep. 30, 2024	172,465,608		172,466,000	17,854,000
Ending balance at Sep. 30, 2024	$ 1,577,041	1,110,259	$ 2,266,282	$ 119,048	810,955	(431,044)	177,500	(258,197)	2,756
Beginning balance (in shares) at Mar. 31, 2024			110,303,000	17,854,000
Beginning balance at Mar. 31, 2024	2,377,380	2,435,282	$ 1,707,689	$ 119,048	810,955	968,842	1,502,479	(299,151)	2,800
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	(1,295,484)	(1,229,394)				(1,295,484)	(1,229,394)
Other comprehensive income (loss), net of tax benefits	1,594	(46)						1,594	(46)
Common stock dividends		(13,000)					(13,000)
Ending balance (in shares) at Jun. 30, 2024			110,303,000	17,854,000
Ending balance at Jun. 30, 2024	1,085,273	1,192,842	$ 1,709,472	$ 119,048	810,955	(326,642)	260,085	(297,557)	2,754
Increase (decrease) in stockholders' equity
Net income (loss) for common stock	(104,402)	(82,585)				(104,402)	(82,585)
Other comprehensive income (loss), net of tax benefits	$ 39,360	2						39,360	2
Ending balance (in shares) at Sep. 30, 2024	172,465,608		172,466,000	17,854,000
Ending balance at Sep. 30, 2024	$ 1,577,041	$ 1,110,259	$ 2,266,282	$ 119,048	$ 810,955	$ (431,044)	$ 177,500	$ (258,197)	$ 2,756

Condensed Consolidated State_11

Condensed Consolidated Statements of Cash Flows (unaudited) - HECO - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation of property, plant and equipment	$ 204,887	$ 200,722
Other amortization	37,123	32,744
Deferred income tax benefit	(513,917)	(5,594)
Allowance for equity funds used during construction	(10,276)	(11,073)
Other	(7,660)	(5,315)
Changes in assets and liabilities
Decrease in fuel oil stock	38,152	38,587
Decrease (increase) in regulatory assets	(13,263)	13,908
Increase in regulatory liabilities	33,461	32,454
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(35,021)	(24,860)
Decrease in defined benefit pension and other postretirement benefit plans liability	(6,694)	(6,722)
Increase in wildfire tort-related claims	1,840,000	75,000
Change in other assets and liabilities	(76,893)	(125,348)
Net cash provided by (used in) operating activities	350,911	475,138
Cash flows from investing activities
Capital expenditures	(258,645)	(342,364)
Other	(1,142)	9,375
Net cash used in investing activities	(24,060)	(369,638)
Cash flows from financing activities
Common stock dividends	0	(112,957)
Proceeds from issuance of long-term debt	5,204	625,000
Net decrease in short-term borrowings from non-affiliates and affiliates with original maturities of three months or less	0	(137,650)
Other	(18,149)	(9,409)
Net cash provided by (used in) financing activities	151,855	371,866
Net increase in cash, cash equivalents and restricted cash	478,706	477,366
Cash, cash equivalents and restricted cash, beginning of period	694,574	204,927
Cash, cash equivalents and restricted cash, end of period	1,173,280	682,293
Less: Restricted cash	(13,645)	(15,164)
Cash and cash equivalents	1,159,635	667,129
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income (loss)	(1,271,262)	137,265
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation of property, plant and equipment	188,436	182,781
Other amortization	22,818	19,639
Deferred income tax benefit	(488,956)	(8,807)
State refundable credit	(8,822)	(8,625)
Bad debt expense	4,006	3,937
Allowance for equity funds used during construction	(10,276)	(11,073)
Other	(2,954)	549
Changes in assets and liabilities
Decrease (increase) in accounts receivable	61,392	(34,813)
Decrease (increase) in accrued unbilled revenues	(12,652)	3,759
Decrease in fuel oil stock	39,193	38,762
Decrease (increase) in materials and supplies	379	(19,958)
Decrease (increase) in regulatory assets	(13,263)	13,908
Increase in regulatory liabilities	33,461	32,454
Increase in accounts payable	49,768	26,967
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(40,755)	(18,754)
Decrease in defined benefit pension and other postretirement benefit plans liability	(5,678)	(6,202)
Increase in wildfire tort-related claims	1,840,000	75,000
Change in other assets and liabilities	(62,187)	(20,678)
Net cash provided by (used in) operating activities	322,648	406,111
Cash flows from investing activities
Capital expenditures	(244,300)	(334,497)
Other	2,697	5,216
Net cash used in investing activities	(241,603)	(329,281)
Cash flows from financing activities
Common stock dividends	(26,000)	(96,750)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(1,496)	(1,496)
Proceeds from issuance of long-term debt	0	350,000
Net decrease in short-term borrowings from non-affiliates and affiliates with original maturities of three months or less	0	(87,967)
Payments of obligations under finance leases	(5,876)	(2,162)
Other	(6,126)	(843)
Net cash provided by (used in) financing activities	(39,498)	160,782
Net increase in cash, cash equivalents and restricted cash	41,547	237,612
Cash, cash equivalents and restricted cash, beginning of period	108,077	39,242
Cash, cash equivalents and restricted cash, end of period	149,624	276,854
Less: Restricted cash	(2,000)	(2,000)
Cash and cash equivalents	$ 147,624	$ 274,854

Condensed Consolidated State_12

Condensed Consolidated Statements of Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2024
Goodwill impairment			$ 82,190
Impairment charges	$ 35,200		35,200
Hawaiian Electric Company, Inc. and Subsidiaries
Wildfire tort-related claims	163,000		1,875,000
Electric utility
Wildfire tort-related claims	163,000		$ 1,875,000
Bank
Goodwill impairment		$ 82,000
Other
Impairment charges	$ 35,000

Basis of presentation

Basis of presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern and in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, the instructions to SEC Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In preparing the unaudited condensed consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenues and expenses for the period. Actual results could differ significantly from those estimates. The accompanying unaudited condensed consolidated financial statements and the following notes should be read in conjunction with the audited consolidated financial statements and the notes thereto in HEI’s and Hawaiian Electric’s Form 10-K for the year ended December 31, 2023. In the opinion of HEI’s and Hawaiian Electric’s management, the accompanying unaudited condensed consolidated financial statements contain all material adjustments required by GAAP to fairly state consolidated HEI’s and Hawaiian Electric’s financial positions as of September 30, 2024 and December 31, 2023, the results of their operations for the three and nine months ended September 30, 2024 and 2023, and cash flows for the nine months ended September 30, 2024 and 2023. All such adjustments are of a normal recurring nature, unless otherwise disclosed below or in other referenced material. Results of operations for interim periods are not necessarily indicative of results for the full year. For the three and nine months ended September 30, 2024, the Company incurred net losses of approximately $104 million and $1.36 billion, respectively. For the three and nine months ended September 30, 2024, the Utilities incurred net losses of approximately $83 million and $1.27 billion, respectively. The net losses for the nine months ended September 30, 2024 were primarily due to the accruals of estimated wildfire liabilities in the second and third quarters of 2024, totaling approximately $1.92 billion related to the Maui windstorm and wildfire tort-related legal claims (see Note 2). When preparing financial statements for each annual and interim reporting period, management has the responsibility to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about HEI’s and the Utilities’ ability to continue as a going concern within one year after the date that the financial statements are issued. In making its evaluation, the Company considers, among other things, risks and/or uncertainties related to its results of operations, contractual obligations, including near-term debt maturities, dividend requirements, debt covenant compliance, or other factors impacting the Company’s liquidity and capital resources. Recent accounting pronouncements. Segment Reporting . In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosure requirements of significant segment expenses. These amendments are effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. These amendments apply on a retrospective basis. The Company is currently evaluating the impact of this amendment on the Company’s consolidated financial statements. Income Taxes. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures to enhance the transparency and decision usefulness of income tax disclosures. The amendments are effective for annual periods beginning after December 15, 2024. These amendments apply on a prospective basis with a retrospective option. Early adoption is permitted. The Company is currently evaluating the impact of this amendment on the Company’s consolidated financial statements and does not expect the adoption to have a material impact on its consolidated financial statements. Climate-related disclosures . In March 2024, the Securities and Exchange Commission (SEC) issued final climate-related disclosure rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors (climate disclosure rules). The rules will require annual disclosure of material greenhouse gas emissions as well as disclosure of governance, risk management and strategy related to material climate-related risks. In addition, the rules require (i) financial statement impacts of severe weather events and other natural conditions; (ii) a roll forward of carbon offset and renewable energy credit balances if material to the Company’s plan to achieve climate-related targets or goals; and (iii) material impacts on estimates and assumptions in the financial statements. The disclosure requirements will begin phasing in for annual periods beginning with calendar year 2025. The Company is currently evaluating the final rule to determine its impact on the Company’s consolidated financial statements. In April 2024, the SEC voluntarily stayed implementation of its climate disclosure rules pending completion of judicial review by the Court of Appeals for the Eighth Circuit. Reclassifications. Within the condensed consolidated balance sheet for the prior period, wildfire tort-related claims amounts were reclassified from “Other liabilities” and “Other current liabilities” for the Company and the Utilities, respectively, to conform to the current year financial statement presentation. Also, consolidated statements of cash flows of prior year wildfire tort-related claims amounts were reclassified from “Change in other assets and liabilities” to “Increase in wildfire tort-related claims” for the Company and the Utilities, to conform to the current year financial statement presentation. Reclassifications did not affect previously reported net income, retained earnings or net cash provided by operating activities.

Maui windstorm and wildfires

Maui windstorm and wildfires	9 Months Ended
	Sep. 30, 2024
Unusual or Infrequent Items, or Both [Abstract]
Maui windstorm and wildfires	Maui windstorm and wildfires On August 8, 2023, a number of brush fires in the West Maui (Lahaina) and Upcountry Maui areas caused widespread property damage, including damage to property of the Utilities, and 102 confirmed fatalities in Lahaina (the Maui windstorm and wildfires). The Maui windstorm and wildfires were fueled by extreme winds and drought-like conditions in those parts of Maui. Restoration costs and recoveries. The Utilities are continuing restoration work to rebuild portions of the electric system in Lahaina to ensure safe and reliable power to all West Maui customers. Restoration efforts include the rebuilding of transmission and distribution lines along former routes in the Lahaina area with the installation of new interim steel poles and electrical equipment. To date, power has been restored to all customers that were able to have power restored in Lahaina and the rest of West Maui. On December 27, 2023, the Public Utilities Commission of the State of Hawaii (PUC) issued an order authorizing deferred accounting treatment for the Utilities’ incremental non-labor expenses related to the Maui windstorm and wildfires. The deferred accounting treatment applies to certain non-labor expenses incurred from August 8, 2023 through December 31, 2024 that are not already a part of the base rates. The approval pertains only to deferred cost treatment; any cost recovery of deferred costs will be the subject of a separate application(s). As of September 30, 2024, the Utilities have deferred $38.8 million of certain incremental costs related to the Maui windstorm and wildfires to a regulatory asset. The Utilities are actively seeking recovery of damage to covered electrical infrastructure under their property insurance programs. The Utilities have submitted claims, received and recorded the insurance recoveries of $0.7 million in October 2024; however, the timing and amount of any future insurance recoveries remain indeterminable at this time and as such, an insurance receivable has not been recorded as of the date of this filing. The Company’s property insurance has a total policy limit of $500 million with a $1 million retention for damages related to Utility-owned non-generating assets, including overhead transmission and distribution assets within 1,000 feet of such assets. The Utilities believe capital expenditures related to restoration that are not covered by insurance will be managed under their current regulatory mechanisms, the recovery of which would be subject to PUC approval. ASB’s Lahaina branch, including most of its contents and automated teller machine, was destroyed in the fire. The Bank leased the property of its Lahaina location. Third-party claims and other proceedings. Tort-related legal claims . As of November 4, 2024, HEI and the Utilities have each been named in approximately 750 lawsuits related to the Maui windstorm and wildfires. These civil and class action lawsuits are pending in the Maui Circuit Court against HEI, the Utilities, and other defendants, including the County of Maui, the State of Hawaii and related state entities, private landowners and developers, and telecommunications companies (collectively, tort-related legal claims). One class action is also pending in federal court. Most of these lawsuits allege that the defendants were responsible for, and/or negligent in failing to prevent or respond to the wildfires that led to the property destruction and loss of life. Other claims include, among other things, personal injury, wrongful death, emotional distress and inverse condemnation. One lawsuit asserting similar theories and claims was filed by the County of Maui against HEI and the Utilities, one lawsuit was filed by Spectrum Oceanic, LLC against HEI and the Utilities and other defendants, and other lawsuits were filed by approximately 160 subrogation insurers against HEI, the Utilities, a private landowner, and telecommunications companies. Additional lawsuits may be filed against the Company and other defendants in the future. The plaintiffs seek to recover damages and other costs, including punitive damages. Defendants have asserted cross-claims against one another for indemnification, contribution, and subrogation. The County of Maui Origin and Cause Report, released on October 2, 2024, attaching the investigative report by the Bureau of Alcohol, Tobacco, Firearms and Explosives, estimated the total economic damage of approximately $6 billion. That estimate has not been validated by the Company, and it represents a gross number that does not take into account causation or liability and does not attempt to allocate responsibility among the various defendants. As such, the estimate is not intended to provide a reasonably possible loss in excess of the recorded amount under ASC Topic 450-20, “Loss Contingencies” attributable to the Company arising from the Maui windstorm and wildfires. On November 8, 2023, Hawaii Governor Josh Green announced the One ‘Ohana Initiative (the One ‘Ohana Initiative ) as a collective path forward to recovery from the Maui windstorm and wildfires. The One ‘Ohana Initiative is a new humanitarian aid fund of $175 million, with the objective to compensate, in an expedited manner, those who have lost loved ones and those who have suffered severe injuries in the Maui windstorm and wildfires. The One ‘Ohana Initiative provides an alternative to a lengthy and expensive legal process. Beneficiaries who have lost loved ones are anticipated to receive payments of $1.5 million per decedent, and those who suffered severe injuries are expected to share in a specially allocated pool of compensation. In exchange for receiving such a payment, beneficiaries will be required to waive their ability to pursue legal claims for wrongful death and severe injuries, except if they seek compensation through the litigation settlement. Hawaiian Electric fully supports this humanitarian initiative and has contributed $75 million. The Governor announced that other parties, including the State of Hawaii, the County of Maui, and Kamehameha Schools have all agreed to contribute to the fund. Hawaiian Electric’s contribution to the Initiative was less than half of the total, and Hawaiian Electric's insurance carriers funded its share of the contributions to the fund. Hawaiian Electric’s contribution is reflective of its commitment to join with community partners to provide solutions to promote Maui’s recovery. Hawaiian Electric’s commitment to contribute to the One ‘Ohana Initiative is not an admission of guilt or reflection of fault or liability related to the wildfires. Under the One ‘Ohana Initiative , all claimants (except families of missing persons) were required to submit a completed registration form and registrants who meet the Fund’s eligibility requirements then were required to complete and submit a claim form. As of the claim-submission deadline of July 15, 2024, 35 claim forms were received that relate to death claims and 12 claim forms were received that relate to physical injury claims. The One ‘Ohana Initiative will retain its separate existence and claimants eligible will be required to apply to the One ‘Ohana Initiative before obtaining benefits from the litigation settlement. Effective November 1, 2024, HEI and Hawaiian Electric entered into two definitive settlement agreements (collectively, the Settlement Agreements) to settle the tort-related legal claims in the litigation arising out of the Maui windstorm and wildfires (expressly excluding securities and derivative actions) on a global basis without any admission of liability. Under the Settlement Agreements, subject to certain conditions (including those described below), HEI and Hawaiian Electric, along with other defendants (the State of Hawaii, the County of Maui, Kamehameha Schools, entities affiliated with the West Maui Land Co., Hawaiian Telcom, and Spectrum/Charter Communications) have agreed to settle the claims of those who filed lawsuits in state and federal courts, or who may have claims but have not yet filed lawsuits, in connection with the Maui windstorm and wildfires. One Settlement Agreement is between the defendants, class counsel, and class plaintiffs (the Class Settlement Agreement), and the other is between the defendants and over 30 lawyers representing numerous individual plaintiffs who have brought their own lawsuits (the Individual Settlement Agreement). The Settlement Agreements do not resolve claims with insurers who have asserted or could assert subrogation claims in separate lawsuits and such insurers are not parties to the Settlement Agreements, but resolving such claims in the manner set forth in the Settlement Agreements (described below) is a condition that must be satisfied before any payment is due from the defendants. Both Settlement Agreements remain subject to court approval and other conditions, including those set out below. Under the Settlement Agreements, HEI and Hawaiian Electric are obligated to contribute a total of $1.99 billion (out of a total defendant contribution of approximately $4.04 billion), which includes $75 million previously contributed for the One ‘Ohana Initiative , which is to be divided between two settlement funds, one for the benefit of individual plaintiffs, and the other for the benefit of the class plaintiffs. HEI and Hawaiian Electric must pay such amounts in four equal annual installments of $479 million, with the first installment expected to be made in late 2025. HEI and Hawaiian Electric have the option to accelerate the payments, in whole or in part, with such accelerated payments to be discounted at a rate of 5.5% per annum. HEI has agreed to transfer the amount of the first payment, $479 million, into a new subsidiary, which is restricted from disbursing such funds except in connection with the initial payments to the settlement funds. Additionally, under the Settlement Agreements, HEI and Hawaiian Electric are obligated to contribute a share to the settlement administration fees only if certain other sources are exhausted when those fees are due, for which, $3.5 million was accrued as of September 30, 2024 based on the best estimate at this time. The Settlement Agreements are intended to resolve all of the tort-related legal claims related to the Maui windstorm and wildfires. The Class Settlement Agreement provides releases by plaintiffs to the defendants, and among defendants, for acts and omissions relating to the Maui windstorm and wildfires. The Individual Settlement Agreement provides that individual plaintiffs who elect to accept the settlement will sign releases. The releases in the Settlement Agreements, including those among defendants (subject to certain conditions), are effective on the initial payment due date. The Settlement Agreements also provide that $500 million of the total settlement payments will be reserved and made available to defendants to defray the cost to resolve any claims brought by nonparticipating plaintiffs. Defendants have the right to terminate the Settlement Agreements under certain circumstances, including if more than specified thresholds of plaintiffs choose not to participate in the settlement. The Settlement Agreements contain multiple conditions that must be met before any payment from HEI and Hawaiian Electric to the settlement funds are due. Those conditions include, among others, resolving claims of the insurers (either through agreement or a final court order stating that the insurers cannot maintain independent lawsuits against the defendants), legislation appropriating money from the state, and court approval of the Settlement Agreements. The Settlement Agreements do not resolve claims with insurers who have asserted subrogation claims in separate lawsuits, and such insurers are not parties to the Settlement Agreements. However, the Settlement Agreements provide that all subrogation claims by insurers that have been or could be brought against defendants arising out of the Maui windstorm and wildfires must be resolved in order for HEI and Hawaiian Electric’s payment obligation to arise. The Settlement Agreements include a condition to the defendants’ obligations providing that by May 19, 2025, either (a) insurers that have brought claims arising out of the Maui windstorm and wildfires enter into a written agreement that provides for releases of all claims against the defendants, or (b) that there is a final and unappealable court order providing that if the final definitive agreement between the plaintiffs and the defendants becomes effective, then those same insurers’ exclusive remedy for any claims against the defendants would be limited to asserting liens against the settlement amounts obtained by the individual plaintiffs. The Supreme Court of Hawaii is currently considering three reserved questions regarding the scope of Hawaii subrogation law that may resolve the condition described in this paragraph in the manner described in (b) above. The parties’ briefing on these questions is expected to conclude in December 2024. No date for oral argument has been set. In the third quarter of 2024, HEI and Hawaiian Electric evaluated various financing plans to pay the proposed settlement in a lump sum and determined that paying in four equal annual installments is the most viable option as of September 30, 2024 and aligns with the Companies’ expectations of how the settlement amount will be paid. Therefore, the Utilities revised their total settlement accrual to $1.92 billion, classifying the first $479 million installment as a current liability based on expected timing of the payment and the remaining $1.44 billion as a non-current liability on the Utilities’ Condensed Consolidated Balance Sheet as of September 30, 2024. The Settlement Agreements contain no admission of any liability by HEI or the Utilities and reflects the collective efforts of the State, HEI and the Utilities, and other defendants to seek a comprehensive resolution of the litigation arising out of the Maui windstorm and wildfires. The Utilities have recorded an additional $40 million in other accounts receivable, net on the Utilities’ Condensed Consolidated Balance Sheet as of September 30, 2024, based on the amounts expected to be remaining under the applicate insurance policies at time of settlement payment. As part of the agreement in principle preceding the Settlement Agreements, the parties agreed to vacate all trial dates and stay the litigation, except for (i) litigation activities between the plaintiffs (individual and class) and the subrogation insurers and (ii) actions taken to further settlement. On August 2, 2024, the Maui Circuit Court overseeing the Special Proceeding, in which most of the actions have been coordinated, vacated the trial dates that previously had been set. Accordingly, no trial dates are currently set in any action. No stay of litigation has been agreed to in the subrogation actions, but no trial dates have been set in those actions. On October 21, 2024, the three subrogation actions that had been pending in the Oahu Circuit Court were transferred to the Maui Circuit Court. The Company intends to vigorously defend itself in the litigation if a definitive settlement is ultimately not achieved. There is no assurance that the Company will be successful in the defense of the litigation or that insurance will be available or adequate to fund any potential settlements, judgments, or costs associated with the litigation. If additional liabilities were to be incurred, the loss could be material to the Company’s results of operations, financial position and cash flows and could result in violations of the financial covenants in the Company’s debt agreements. If any such losses were to be sufficiently high, the Company may not have liquidity or the ability to access liquidity at levels necessary to satisfy such losses. However, any possible loss in excess of the amount recorded cannot reasonably be estimated at this time. Securities class action and shareholder lawsuits . On August 24, 2023, a putative securities class action captioned Bhangal v. Hawaiian Electric Industries, Inc., et al., No.: 3:23-cv-04332-JSC (the Securities Action) was filed in the United States District Court for the Northern District of California. The lawsuit alleges violations of the Securities Exchange Act of 1934 (the Exchange Act) and Rule 10b-5 promulgated thereunder against HEI and certain of its current and former officers (collectively, Defendants), and Section 20(a) of the Exchange Act against certain of HEI’s current and former officers. Plaintiff broadly alleges that Defendants made materially false and misleading statements or omissions regarding HEI’s wildfire prevention and safety protocols and related matters. Plaintiff seeks unspecified monetary damages. On December 7, 2023, the court appointed Daniel Warren as lead plaintiff and Pomerantz LLP as lead plaintiff’s counsel. On March 8, 2024, the lead plaintiff filed an amended complaint. On October 15, 2024, the court granted defendants’ motion to dismiss the amended complaint, with leave to amend. The court set November 12, 2024 as the deadline for the lead plaintiff to file an amended complaint. The Company anticipates filing a motion to dismiss any further amended complaint and intends to vigorously defend against this action. The parties have agreed to mediate this case and are in the process of engaging a private mediator and scheduling a mediation session. There is no assurance that the Company will be successful in the defense of the litigation or that insurance will be available or adequate to fund any potential settlement or judgment or the litigation costs of the action. The Company does not believe that a loss is probable and any possible loss or range of loss is not reasonably estimable. On September 11, 2023, a putative shareholder derivative action captioned Rice v. Connors, et al., No. 1CCV-23-0001181 was filed in the Circuit Court of the First Circuit, State of Hawaii. On December 6, 2023, the case was removed to the United States District Court for the District of Hawaii and captioned Rice v. Connors, et al., No. 1:23-cv-00577-JAO-BMK. On March 14, 2024, the United States District Court remanded the case to the Circuit Court of the First Circuit, State of Hawaii. This action is purportedly brought by a shareholder on behalf of nominal defendants HEI and Hawaiian Electric against certain current and former officers and directors of HEI and Hawaiian Electric. Plaintiff asserts Hawaii state law breach of fiduciary duty, abuse of control, corporate waste, unjust enrichment, and aiding and abetting breach of fiduciary duty claims allegedly arising in connection with the Maui windstorm and wildfires that occurred in August 2023 and certain of the Company’s prior public disclosures. Plaintiff seeks, on behalf of HEI and Hawaiian Electric, compensatory and punitive damages, restitution, disgorgement, and equitable relief in the form of changes to corporate governance, policies and culture. HEI has moved to stay the proceeding pending resolution of the tort-related legal claims and the Securities Action. While the Company has obligations to indemnify and/or advance the defendants’ legal fees and costs in connection with this lawsuit, any monetary recovery in the derivative litigation should accrue to the Company. The parties have agreed to mediate this case and are in the process of engaging a private mediator and scheduling a mediation session. The Company is unable to predict the ultimate outcome and is unable to make a reasonable estimate of the amount or range of loss, if any, that could result from any unfavorable outcome. Three putative shareholder derivative actions were filed in the United States District Court for the Northern District of California between December 26, 2023 and February 8, 2024, including: Kallaus v. Johns, et al., No. 3:23-cv-06627 (the Kallaus Action), Cole v. Johns, et al., No. 3:24-cv-00598 (the Cole Action), and Tai v. Seu, et al., No. 3:24-cv-01198 (the Tai Action). On March 19, 2024, upon stipulation by the parties, the court consolidated the Kallaus Action, the Cole Action, and the Tai Action under the caption In Re Hawaiian Electric Industries, Inc. and Hawaiian Electric Company, Inc. Derivative Litigation, No. 3:23-cv-06627 (the Consolidated Derivative Actions). On June 19, 2024, Plaintiffs filed a consolidated amended complaint. The Consolidated Derivative Actions are purportedly brought by shareholders of HEI on behalf of nominal defendants HEI and Hawaiian Electric against certain current and former officers and directors of HEI and Hawaiian Electric. Plaintiffs purport to assert both Hawaii state law and federal securities law claims. Plaintiffs assert state law breach of fiduciary duty, corporate waste, unjust enrichment, gross mismanagement, and abuse of control claims purportedly arising in connection with the Maui windstorm and wildfires that occurred in August 2023 and certain public disclosures. Plaintiffs also assert claims under Section 10(b) of the Exchange Act, and Rule 10b-5 promulgated thereunder, and generally allege that the Company and certain of its current and former officers made materially false and misleading statements or omissions regarding the Company’s wildfire prevention and safety protocols and related matters. Plaintiffs seek, on behalf of HEI and Hawaiian Electric, unspecified monetary and punitive damages, disgorgement, and other relief. HEI moved to stay the Consolidated Derivative Actions pending resolution of the tort-related legal claims and the Securities Action, and also moved to dismiss the consolidated amended complaint for failing to adequately allege that the Board’s refusal of the plaintiffs’ demands was wrongful. While the Company has certain obligations to indemnify and/or advance the defendants’ legal fees and costs in connection with this lawsuit, any monetary recovery in the Consolidated Derivative Actions should accrue to the Company. The parties have agreed to mediate this case and are in the process of engaging a private mediator and scheduling a mediation session. The Company is unable to predict the ultimate outcome and is unable to make a reasonable estimate of the amount or range of loss, if any, that could result from any unfavorable outcome. Two putative shareholder derivative actions were filed in the United States District Court for the District of Hawaii between April 8, 2024 and June 8, 2024, including: Assad v. Seu, et al., No. 1:24-cv-00164 (the Assad Action), and Faris v. Seu, et al., No. 1:24-cv-00247 (the Faris Action). On July 3, 2024, upon stipulation by the parties, the court consolidated the Assad Action and Faris Action under the caption In Re Hawaiian Electric Industries, Inc., Stockholder Derivative Litigation, No. 1:24-cv-00164 (the Hawaii Federal Derivative Actions). Both actions are purportedly brought by shareholders on behalf of nominal defendant HEI and against certain current and former officers and directors of HEI and Hawaiian Electric. Plaintiffs purport to assert Hawaii state law claims for breach of fiduciary duty, corporate waste, and unjust enrichment allegedly arising in connection with the Maui windstorm and wildfires that occurred in August 2023 and certain public disclosures. Plaintiffs generally allege that the Company and certain of its current and former officers made materially false and misleading statements or omissions regarding the Company’s wildfire prevention and safety protocols and related matters. Plaintiffs seek, on behalf of HEI, compensatory damages, restitution, disgorgement, injunctive relief, and equitable relief, including in the form of changes to HEI’s corporate governance policies and procedures. On July 30, 2024, upon HEI’s motion, the court stayed the Hawaii Federal Derivative Actions pending resolution of the motion to dismiss the Securities Action and the motions to stay and dismiss the Consolidated Derivative Actions. While the Company has obligations to indemnify and/or advance the defendants’ legal fees and costs in connection with this lawsuit, any monetary recovery in the derivative litigation should accrue to the Company. The parties have agreed to mediate this case and are in the process of engaging a private mediator and scheduling a mediation session. The Company is unable to predict the ultimate outcome and is unable to make a reasonable estimate of the amount or range of loss, if any, that could result from any unfavorable outcome. Maui windstorm and wildfires costs. Legal costs in connection with the litigation and loss contingencies are expensed as incurred. The Company has $165 million of excess liability insurance and $25 million of miscellaneous professional liability insurance for third party claims, including claims related to wildfires, with a retention of $0.3 million and $1.0 million, respectively, and $145 million directors and officers liability insurance to cover claims related to the shareholder and derivative lawsuits, with a retention of $1.0 million. As of September 30, 2024, the Company’s and Utilities’ insurance receivable totaled $74 million and $69 million, respectively, under the policies. As of September 30, 2024, HEI and its subsidiaries have approximately $16 million, nil and $130 million of insurance coverage remaining under the excess liability, miscellaneous professional liability and directors and officers liability policies, respectively. See table below for the incremental expenses related to the Maui windstorm and wildfires. Three months ended September 30, 2024 Nine months ended September 30, 2024 (in thousands) Electric utility HEI Consolidated Electric utility HEI Consolidated Maui windstorm and wildfires related expenses: Legal expenses $ 11,821 $ 17,963 $ 40,169 $ 57,990 Wildfire tort-related claims 203,000 203,000 1,915,000 1,915,000 Other expense 13,429 15,433 36,523 41,819 Total Maui windstorm and wildfires related expenses 228,250 236,396 1,991,692 2,014,809 Insurance recoveries (49,625) (52,158) (75,973) (83,610) Deferral treatment approved by the PUC 1 (8,589) (8,589) (24,143) (24,143) Total Maui windstorm and wildfires related expenses, net of insurance recoveries and approved deferral treatment $ 170,036 $ 175,649 $ 1,891,576 $ 1,907,056 Three and nine months ended September 30, 2023 Year ended December 31, 2023 (in thousands) Electric utility HEI Consolidated Electric utility HEI Consolidated Maui windstorm and wildfires related expenses: Legal expenses $ 6,251 $ 10,751 $ 24,737 $ 34,876 Wildfire tort-related claims 75,000 75,000 75,000 75,000 Other expense 7,691 16,831 15,071 28,507 Total Maui windstorm and wildfires related expenses 88,942 102,582 114,808 138,383 Insurance recoveries (75,000) (75,000) (98,613) (104,580) Deferral treatment approved by the PUC 1 — — (14,692) (14,692) Total Maui windstorm and wildfires related expenses, net of insurance recoveries and approved deferral treatment $ 13,942 $ 27,582 $ 1,503 $ 19,111 1 Related to the PUC’s order, received on December 27, 2023, approving deferred accounting treatment for the Utilities’ incremental non-labor expenses related to the August 2023 Maui windstorm and wildfires. Amounts were reclassified to a regulatory asset. On May 4, 2024, HEI and the Utilities reached an agreement to settle indemnification claims asserted by the State of Hawaii without any admission of fault or responsibility. Under the terms of the agreement, HEI and the Utilities agreed to contribute up to $18.4 million through the end of 2024 related to the costs of the professional advisors engaged by the State of Hawaii to advise on a variety of matters related to the Maui windstorm and wildfires. Under certain circumstances, HEI and the Utilities have the unilateral right to terminate the agreement and stop paying the costs for future periods. As of September 30, 2024, a total of $14.5 million of such costs were accrued and reflected in Maui windstorm and wildfires related expenses-Other expense in the table above. HEI and the Utilities are seeking insurance recoveries for such costs; however, the timing and amount of any insurance recoveries are not determinable at this time. In addition, the Utilities incurred $1.2 million and $8.9 million of total capital costs related to the Maui windstorm and wildfires for the three and nine months ended September 30, 2024, respectively.

Segment financial information

Segment financial information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment financial information	Segment financial information (in thousands) Electric utility Bank Other Total Three months ended September 30, 2024 Revenues $ 829,617 $ 105,144 $ 3,622 $ 938,383 Income (loss) before income taxes $ (117,526) $ 23,429 $ (55,137) $ (149,234) Income taxes (benefit) (35,439) 4,651 (14,515) (45,303) Net income (loss) (82,087) 18,778 (40,622) (103,931) Preferred stock dividends of subsidiaries 498 — (27) 471 Net income (loss) for common stock $ (82,585) $ 18,778 $ (40,595) $ (104,402) Nine months ended September 30, 2024 Revenues $ 2,410,526 $ 312,231 $ 10,144 $ 2,732,901 Income (loss) before income taxes $ (1,725,279) $ (7,864) $ (104,102) $ (1,837,245) Income taxes (benefit) (454,017) (1,789) (25,092) (480,898) Net income (loss) (1,271,262) (6,075) (79,010) (1,356,347) Preferred stock dividends of subsidiaries 1,496 — (79) 1,417 Net income (loss) for common stock $ (1,272,758) $ (6,075) $ (78,931) $ (1,357,764) Total assets (at September 30, 2024) $ 7,563,204 $ 9,267,846 $ 900,178 $ 17,731,228 Three months ended September 30, 2023 Revenues $ 794,987 $ 100,974 $ 5,912 $ 901,873 Income (loss) before income taxes $ 55,415 $ 12,749 $ (19,054) $ 49,110 Income taxes (benefit) 11,456 1,384 (5,319) 7,521 Net income (loss) 43,959 11,365 (13,735) 41,589 Preferred stock dividends of subsidiaries 498 — (27) 471 Net income (loss) for common stock $ 43,461 $ 11,365 $ (13,708) $ 41,118 Nine months ended September 30, 2023 Revenues $ 2,419,539 $ 291,716 $ 14,540 $ 2,725,795 Income (loss) before income taxes $ 175,391 $ 61,511 $ (48,121) $ 188,781 Income taxes (benefit) 38,126 11,380 (12,591) 36,915 Net income (loss) 137,265 50,131 (35,530) 151,866 Preferred stock dividends of subsidiaries 1,496 — (79) 1,417 Net income (loss) for common stock $ 135,769 $ 50,131 $ (35,451) $ 150,449 Total assets (at December 31, 2023) $ 7,283,554 $ 9,673,192 $ 287,075 $ 17,243,821 Intercompany electricity sales of the Utilities to ASB and “other” segments are not eliminated because those segments would need to purchase electricity from another source if it were not provided by the Utilities and the profit on such sales is nominal. Sales from Hamakua Energy, LLC (Hamakua Energy) to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation. Impairment of long-lived assets. HEI and Pacific Current have been undertaking a comprehensive review of strategic options for certain assets of Pacific Current. During the course of this process, HEI and Pacific Current had determined it is more-likely-than-not that the long-lived assets of Pacific Current will be sold significantly before the end of their previously estimated useful life and that the fair value of certain long-lived assets of Pacific Current, currently classified as held-and-used, are less than its carrying value. After performing a recoverability test of these assets as of September 30, 2024, Pacific Current determined a portion of these long-lived assets of Pacific Current were not recoverable and therefore impaired. As a result of our September 30, 2024 impairment test, HEI and Pacific Current recorded a pretax asset impairment charge of $35.2 million for the three and nine months ended September 30, 2024. The impairment charge is recorded in “Other Expenses” in the Company’s Condensed Consolidated Statements of Income. In connection with the impairment analysis, as of September 30, 2024, HEI forgave its intercompany loan receivable from Mahipapa, including accrued interest, amounting to $9.6 million. Concurrently, Mahipapa classified its intercompany loan payable to HEI, including accrued interest, of an equivalent amount as an equity contribution. These transactions were accounted for as equity transactions and offset in the Company’s Condensed Consolidated Balance Sheets. The impairment charge and intercompany loan transactions were non-cash in nature and did not affect the Company’s current liquidity, cash flows or compliance with debt covenants under the Company’s existing credit agreements.

Electric utility segment

Electric utility segment	9 Months Ended
	Sep. 30, 2024
Electric Utility Subsidiary [Abstract]
Electric utility segment	Electric utility segment Consolidated variable interest entities. The HE AR INTER LLC and its direct subsidiary, HE AR BRWR LLC, (collectively, the SPEs) are bankruptcy remote, direct and indirect wholly owned subsidiaries of the Utilities. Pursuant to the Asset-backed lending facility (ABL facility) credit agreement, the Utilities sells certain accounts receivable to the SPEs as collateral, which in turn, obtain financing from financial institutions. As of September 30, 2024, the ABL facility remains undrawn and the SPEs have $325.1 million of net accounts receivable, included in customer accounts receivable, net, and accrued unbilled revenue, net, on the Utilities’ Condensed Consolidated Balance Sheet and accounts receivable and unbilled revenues, net, on the Company’s Condensed Consolidated Balance Sheet. The SPEs are considered VIEs due to insufficient equity investment at risk. The most significant activities that impact the economic performance of the SPEs are cash and financing management. The Utilities are considered the primary beneficiary as the Utilities direct the activities related to cash and financing management and therefore, are required to consolidate the SPEs. Although the SPEs are direct and indirect wholly owned consolidated subsidiaries of the Utilities, the SPEs are legally separate from the Utilities. The assets of the SPEs (which are primarily accounts receivables) are not available to creditors of the Utilities. Unconsolidated variable interest entities. Power purchase agreements . As of September 30, 2024, the Utilities had four power purchase agreements (PPAs) for firm capacity and other PPAs with independent power producers (IPPs) and Schedule Q providers (i.e., customers with cogeneration and/or power production facilities who buy power from or sell power to the Utilities), none of which are currently required to be consolidated as VIEs. Pursuant to the current accounting standards for VIEs, the Utilities are deemed to have a variable interest in Kalaeloa Partners, L.P. (Kalaeloa) and Hamakua Energy by reason of the provisions of the PPA that the Utilities have with the two IPPs. However, management has concluded that the Utilities are not the primary beneficiary of Kalaeloa and Hamakua Energy because the Utilities do not have the power to direct the activities that most significantly impact the two IPPs’ economic performance nor the obligation to absorb their expected losses, if any, that could potentially be significant to the IPPs. Thus, the Utilities have not consolidated Kalaeloa and Hamakua Energy in its condensed consolidated financial statements. However, Hamakua Energy is an indirect subsidiary of Pacific Current and is consolidated in HEI’s condensed consolidated financial statements. Commitments and contingencies. Contingencies . The Utilities are subject in the normal course of business to legal, regulatory and environmental proceedings. Excluding the potential liabilities from the Maui windstorm and wildfires, management does not anticipate that the aggregate ultimate liability arising out of these pending or threatened legal proceedings will be material to its financial position. However, the Utilities cannot rule out the possibility that such outcomes could have a material effect on the results of operations or liquidity for a particular reporting period in the future. The Utilities record loss contingencies when the outcome of such proceedings is probable and when the amount of the loss is reasonably estimable. The Utilities also evaluate, on a continuous basis, whether developments in such proceedings could cause these assessments or estimates to change. Assessment regarding future events is required when evaluating whether a loss is probable or reasonably possible, and as to whether such loss or a range of such loss is estimable. Management is often unable to estimate a reasonably possible loss, or a range of loss, particularly in cases in which: (i) the damages sought are indeterminate or the basis for the damages claimed is not clear; (ii) proceedings are in early stages; (iii) discovery is not complete; (iv) the matters involve novel or unsettled legal theories; (v) significant facts are in dispute; (vi) a large number of parties are represented (including circumstances in which it is uncertain how liability, if any, would be shared among multiple defendants); (vii) a lower court or administrative agency’s decision or ruling has been appealed; and/or (viii) a wide range of potential outcomes exist. In such cases, there may be considerable uncertainty regarding the timing or ultimate resolution, including any possible loss, fine, penalty, or business impact. August 2023 Maui windstorm and wildfires. See Note 2. Hu Honua Bioenergy, LLC (Hu Honua). In May 2012, Hawaii Electric Light signed a PPA, which the PUC approved in December 2013, with Hu Honua for 21.5 MW of renewable, dispatchable firm capacity fueled by locally grown biomass from a facility on the island of Hawaii. Under the terms of the PPA, the Hu Honua plant was scheduled to be in service in 2016. However, Hu Honua encountered construction and litigation delays, which resulted in the termination of the original PPA. Following the termination, Hu Honua filed a lawsuit in the U.S. District Court for the District of Hawaii. The parties reached a settlement that was conditioned on the PUC’s timely, non-appealable final approval of an amended and restated PPA dated May 9, 2017. On May 23, 2022, following a contested case hearing, the PUC issued a decision and order denying the amended and restated PPA, based on, among other things, findings that: (1) the project will result in significant greenhouse gas (GHG) emissions, (2) Hu Honua’s proposed carbon commitment to sequester more GHG emissions than produced by the project are speculative and unsupported, (3) the amended and restated PPA is likely to result in high costs to customers through its relatively high cost of electricity and through potential displacement of other, lower cost, renewable resources, and (4) based on the foregoing, approving the amended and restated PPA is not prudent or in the public interest. On June 2, 2022, Hawaii Electric Light and Hu Honua filed their separate motions for reconsideration, which were denied by the PUC on June 24, 2022. On June 29, 2022, Hu Honua filed its notice of appeal to the Hawaii Supreme Court of the PUC’s May 23, 2022 decision and order denying the amended and restated PPA. On March 13, 2023, the Hawaii Supreme Court affirmed the PUC’s decision denying the amended and restated PPA between Hu Honua and Hawaii Electric Light and entered its judgment on appeal on April 12, 2023. On June 7, 2023, Hu Honua filed a status report with the U.S. District Court for the District of Hawaii, stating, among other things, that because settlement of the underlying federal lawsuit was contingent on timely, non-appealable, final approval of the amended and restated PPA by the PUC, that the Hawaii Supreme Court’s opinion made fulfillment of the condition impossible, and therefore the settlement agreement between the Hawaiian Electric defendants (HEI, Hawaiian Electric, and Hawaii Electric Light) and Hu Honua is null and void and of no further effect. On November 16, 2023, Hu Honua filed its Motion for Leave to File Third Amended and Supplemental Complaint and for Permissive Joinder with the U.S. District Court for the District of Hawaii, asking the court to grant it leave to file a Third Amended and Supplemental Complaint, which would amend its claims and add three new proposed defendants. The hearing on this motion took place on February 14, 2024. The court issued a decision and order on the motion on April 2, 2024, which was consistent with Hawaii Electric Light's position, only allowing amendments that were agreed to and not allowing Hu Honua to add new claims or parties, effectively leaving Hu Honua with its previously-pled breach of contract and antitrust claims. Hu Honua filed its objection to the order on April 16, 2024 and the Hawaiian Electric defendants filed their response to the objection on April 30, 2024. A hearing on Hu Honua’s objection took place on July 30, 2024. On September 12, 2024, the court issued its decision affirming the April 2, 2024 order. Hu Honua filed its Third Amended and Supplemental Complaint on October 25, 2024. 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 (BESS) 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. 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 Environmental Protection Agency (EPA) has since identified environmental impacts in the subsurface soil at the Site. In cooperation with the State of Hawaii Department of Health and EPA, Maui Electric further investigated the Site and the adjacent parcel to determine the extent of impacts of polychlorinated biphenyls (PCBs), residual fuel oils and other subsurface contaminants. Maui Electric has a reserve balance of $2.5 million as of September 30, 2024, 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. Pearl Harbor sediment study . In July 2014, the U.S. Navy notified Hawaiian Electric of the Navy’s determination that Hawaiian Electric is a Potentially Responsible Party under CERCLA responsible for the costs of investigation and cleanup of PCB contamination in sediment in the area offshore of the Waiau Power Plant as part of the Pearl Harbor Superfund Site. Hawaiian Electric was also required by the EPA to assess potential sources and extent of PCB contamination onshore at Waiau Power Plant. As of September 30, 2024, the reserve account balance recorded by Hawaiian Electric to address the PCB contamination was $9.5 million. The reserve balance represents the probable and reasonably estimable undiscounted cost for the onshore and offshore investigation and remediation. The final remediation costs will depend on the actual onshore and offshore cleanup costs. Kapolei pipeline . James Campbell Company (JCC) through its wholly owned subsidiary, Aina Nui Corporation discovered petroleum contamination in ground water during construction of a project in Kapolei in late 2022 and allegedly incurred approximately $1.4 million in remediation costs. JCC made a joint demand for these costs in June 2023 and a supplemental demand in April of 2024 to two companies, including Hawaiian Electric, that have pipelines in the area of the contamination. On September 11, 2024, a settlement was reached in an amount not considered to be material. Endangered Species Act (ESA) . The Utilities received a 60-day Notice under the federal Endangered Species Act, from Earthjustice on behalf of the American Bird Conservancy and Conservation Council for Hawaii (Conservation Groups) in January 2024. The 60-day Notice (Notice) is the pre-cursor to a citizen’s suit under the Endangered Species Act. The Notice alleges that the Utilities are out of compliance with the Act due to alleged impacts on endangered seabirds caused by the Utilities’ powerlines, street lights and facility lights on Maui and Lanai. At the time the Notice was served, the Utilities were already in the process of drafting a Habitat Conservation Plan (HCP) with respect to the powerlines and will be applying for associated state and federal take/license permits. Notwithstanding, the Notice asserts that the scope of the HCP should be broader and additional interim measures are necessary while the HCP and related permits are pending. On October 30, 2024, the Utilities and the Conservation Groups entered into a settlement agreement, conditioned upon court approval, whereby the Utilities will continue the HCP process and take specific actions to minimize and mitigate the potential impact of the Utilities’ powerlines while the document is being prepared. The agreement also contains additional requirements that include coordination with the Conservation Groups with various aspects of the HCP and powerline operations, and continuing the Utilities’ commitment to a species mitigation project with University of Hawaii Foundation to monitor, protect and increase the population of Hawaiian Petrels. The settlement agreement will not become final until approved by the federal district court after a complaint is filed to obtain the court’s jurisdiction over the agreement. After court approval, the case will be dismissed and the court will maintain jurisdiction for the purpose of enforcement of the agreement. The street and facility lights aspect of the Notice has not yet been resolved and it is expected that a second complaint will be filed in that regard that will include the County of Maui as a party. Commitments . Purchase commitments . In the ordinary course of business, the Utilities enter into various agreements to purchase power and lease fuel barge. As of December 31, 2023, the Utilities estimated future purchase obligations of $1.7 billion. See Note 4 of the Notes to the Consolidated Financial Statements in Item 8 of the 2023 Form 10-K. On March 28, 2024, AES West Oahu Solar project reached commercial operations, which has a capacity of 12.5 MW with 50 MWh batteries and total annual payment of $3.2 million. On May 31, 2024, AES Kuihelani Solar project on Maui reached commercial operations, which has a capacity of 60 MW with 240 MWh batteries and total annual payment of $13.2 million. On June 7, 2024, the Kupono Solar project on Oahu reached commercial operations, which has a capacity of 42 MW with 168 MWh batteries and total annual payment of $11.5 million. For the nine months ended September 30, 2024, $107.4 million of finance lease liabilities with corresponding right-of-use assets was recorded for the battery portion of the PPAs and a total of three Stage 1 and Stage 2 renewable projects provide the Utilities of 114.5 MW, with 458 MWh batteries. Purchases from all IPPs were as follows: Three months ended September 30 Nine months ended September 30 (in millions) 2024 2023 2024 2023 Kalaeloa $ 74 $ 77 $ 219 $ 211 HPOWER 20 17 53 51 Puna Geothermal Venture 15 7 42 24 Hamakua Energy 9 13 25 52 Kapolei Energy Storage 6 — 18 — Wind IPPs 37 42 104 99 Solar IPPs 26 21 62 57 Other IPPs 1 2 1 7 5 Total IPPs $ 189 $ 178 $ 530 $ 499 1 Includes hydro power and other PPAs. Utility projects. Many public utility projects require PUC approval and various permits from other governmental agencies. Difficulties in obtaining, or the inability to obtain, the necessary approvals or permits or community support can result in significantly increased project costs or even cancellation of projects. In the event a project does not proceed, or if it becomes probable the PUC will disallow cost recovery for all or part of a project, or if PUC-imposed caps on project costs are expected to be exceeded, project costs may need to be written off in amounts that could result in significant reductions in Hawaiian Electric’s consolidated net income. Waena Switchyard/Synchronous Condenser Project . In October 2020, to support efforts to increase renewable energy generation and reduce fossil fuel consumption by deactivating current generating units, Maui Electric filed a PUC application to construct a switchyard, which includes the extension of two 69 kV transmission lines and the relocation of another 69 kV transmission line; and the conversion of two generating units to synchronous condensers at Kahului Power Plant in central Maui. In November 2021, the PUC approved Maui Electric’s request to commit funds estimated at $38.8 million for the project, and to recover capital expenditures for the project under Exceptional Project Recovery Mechanism (EPRM) not to exceed $38.8 million, which shall be further reduced to reflect the total project cost exclusive of overhead costs not directly attributable to the project. The Waena Switchyard was placed in service on October 25, 2023. Maui Electric petitioned and received from the State of Hawaii Department of Health a one-year extension to the mandatory retirement of Kahului Power Plant and there is now flexibility to operate the units until the end of 2028. 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 September 30, 2024, $25.5 million has been incurred for the project. Waena Battery Energy Storage System Project . In September 2020, Maui Electric filed a PUC application to purchase and install a 40 MW BESS at its Waena Site in Central Maui. In December 2023, the PUC approved Maui Electric’s request to commit funds estimated at $82.1 million, for the purchase and installation of the project, and to recover costs for the project under EPRM. Project costs incurred as of September 30, 2024 amount to $0.7 million. Climate Adaptation Transmission and Distribution Resilience Program . The Utilities maintain that improving resiliency of the electric grid is an urgent matter and recognizes that climate change is making Hawaii increasingly vulnerable to sever weather events. On January 31, 2024, the PUC approved the Utilities’ request to commit an estimated $189.7 million in funds for the Climate Adaptation Transmission and Distribution Resilience Program, over a project period of five years. The project is to focus on, among other things, system hardening in wildfire risk areas to prevent ignition and to enable quicker response, video camera and weather monitors in wildfire risk areas and to add situational awareness, and strengthening transmission lines. The project costs to be recovered through EPRM is subject to a cap of $95 million and any amount in excess will be subject to the PUC’s further review. On August 7, 2024, the Utilities received a notification from the U.S. Department of Energy that its application for $95 million in federal funds under the Infrastructure Investment and Jobs Act (IIJA) has been awarded. On August 20, 2024, the Utilities submitted a copy of their executed agreement with the Department of Energy to the PUC. Project costs incurred as of September 30, 2024 amount to $3.7 million. 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 continued as previously 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. The June 2022 D&O approved two PIMs, a SSM, and extended the timeframe for an existing PIM. Specifically, the PUC approved (1) a (penalty-only) generation-caused interruption reliability PIM, (2) a (penalty/reward) interconnection requirements study PIM, (3) a (reward-only) Collective Shared Savings Mechanism (CSSM), and (4) a modification and extension of the existing Interim Grid Services PIM (reward-only). On November 23, 2022, the PUC approved the Utilities’ proposed tariffs to implement the aforementioned PIMs with an effective date of January 1, 2023. In addition, the June 2022 D&O instructed the Utilities to prepare and submit: a detailed fossil fuel retirement report (FF Retirement Report) outlining necessary steps to safely and reliably retire certain existing fossil fuel power plants during the first multi-year rate period (MRP); and a functional integration plan (FIP) for distributed energy resources (DER) to increase transparency into the Utilities’ plans and progress for utilizing cost-effective grid services from DERs and ensure that the necessary functionalities and requisite technologies are in place to do so. The PUC also instructed the PBR Working Group to continue its ongoing collaborative efforts to consider other potential new incentive mechanisms and to address other issues raised during the proceeding. On March 30, 2023, the PUC held a PBR Working Group coordination meeting to initiate subgroups on the Long-Term Grid Services PIM, modification/evaluation of existing PIMs, and comprehensive PBR Framework review priority topics. In accordance with the June 2022 D&O, the Utilities filed their FIP on September 30, 2022, Long-Term Grid Services PIM proposal on July 3, 2023, and FF Retirement Report on October 11, 2024. On October 16, 2023, the Utilities filed a request for limited suspension of the Transmission and Distribution (T&D) System Average Interruption Duration Index (SAIDI) PIM, the T&D System Average Interruption Frequency Index (SAIFI) PIM, and the target heat rate provision of Maui Electric Maui Division’s Energy Cost Recovery Clause (ECRC) tariff starting from August 8, 2023. On December 28, 2023, the PUC issued an order granting a temporary suspension of Maui Electric’s T&D SAIDI and SAIFI PIMs and Maui Electric Maui Division’s target heat rate provision from August 8, 2023 through June 30, 2024, which the tariffs became effective on January 1, 2024. On November 3, 2023, the Utilities, Ulupono Initiative LLC, and the County of Hawaii filed a stipulation on proposed modifications to the RPS-A, Call Center, AMI Utilization, and interconnection requirements study PIMs. On June 24, 2024, the PUC issued an order (1) approving modifications to the interconnection requirements study PIM to expand its application to firm generation projects effective August 1, 2024, (2) approving a consolidated target for the Call Center PIM and modifying the target performance based on the average of the Utilities’ performance, weighted by the number of calls for the last eight quarters as of December 31, 2023, to be effective August 1, 2024, (3) denying the proposed modifications to the RPS-A PIM and clarifying that it will continue to operate according to its existing tariff language; and (4) denying the proposed modifications to the AMI Utilization PIM and declining to extend the PIM beyond its scheduled sunset date of December 31, 2023. On December 26, 2023, the PUC issued an order (1) confirming that the Interim Grid Services PIM will sunset on December 31, 2023, (2) extending the Interconnection Approval PIM through December 31, 2024, and (3) determining that it will continue examination of the Long-Term Grid Services PIM into 2024 as part of a broader examination that addresses barriers to the utilization of DERs to meet grid needs. On April 1, 2024, the Utilities filed a request for partial temporary suspension and modification of the T&D SAIDI and T&D SAIFI PIMs to specifically suspend the T&D SAIDI and T&D SAIFI PIMs for wildfire risk circuits from January 1, 2024 to December 31, 2025. The Utilities also proposed that circuits not identified as wildfire risk circuits would continue to be subject to the existing PIMs on a prorated basis. On April 26, 2024, the PUC issued a procedural schedule to govern review of the request. The Utilities are requesting a D&O by December 16, 2024. On June 19, 2024, the PUC issued an order (June 2024 order) providing preliminary guidance regarding the comprehensive evaluation of the PBR Framework that will commence in the fourth year of the PBR Framework’s first MRP (PBR Framework Review). The PUC has developed a high-level review structure and timeline for the PBR Framework Review and divided the remainder of the first MRP into three phases: (i) the evaluation of the current PBR Framework, (ii) the examination of proposal for modifications to the PBR Framework, and (iii) the implementation of modifications prior to commencing the second MRP. At the PBR Working Group meeting held on June 26, 2024, the PUC staff solicited the parties’ feedback on the scope of the PBR Framework Review and discussed other considerations, including rebasing target revenues. On July 19, 2024, as requested by the PUC staff, the parties filed written feedback to materials presented and discussed at the June Working Group meeting and in the June 2024 order. On July 30, 2024, the PUC issued an order providing further guidance on the first of the three phases of the PBR Framework Review established by the June 2024 order. The first phase will focus on the evaluation of the individual PBR mechanisms using an informal, collaborative process. Parties will submit briefing on their evaluation of the individual PBR mechanisms near the end of the first phase, followed by a decision and order summarizing the findings of the evaluation, including which PBR mechanisms will be subject to additional examination and potential modification in the second phase of the PBR Framework Review. At the PBR Working Group meetings held on August 30, 2024 and October 25, 2024, the Working Group discussed issues and considerations regarding re-basing target revenues for the next MRP. Series of PBR Working Group meetings are expected to be held with the parties. Annual revenue adjustment mechanism . The PBR Framework established a five-year MRP during which there will be no general rate cases. Target revenues will be adjusted according to an index-driven ARA based on (i) an inflation factor, (ii) a predetermined X-factor to encompass productivity, which is set at zero, (iii) a Z-factor to account for exceptional circumstances not in the Utilities’ control and (iv) a customer dividend consisting of a negative adjustment of 0.22% of adjusted revenue requirements compounded annually and a flow through of the “pre-PBR” savings commitment from the management audit recommendations developed in a prior docket at a rate of $6.6 million per year from 2021 to 2025. The ARA mechanism replaced the previous revenue adjustment mechanism (RAM). RAM revenue adjustments approved by the PUC in 2020 will continue to be included in the RBA provision’s target revenue and RBA rate adjustment to the extent such adjustments are not included in base rate unless modified with PUC approval. The implementation of the ARA occurred on June 1, 2021. Earnings sharing mechanism . The PBR Framework established a symmetrical ESM for achieved rate-making ROACE outside of a 300 basis points deadband above or below the current authorized ROACE of 9.5% for each of the Utilities. There is a 50/50 sharing between customers and Utilities for the achieved rate-making ROACE falling within 150 basis points outside of the deadband in either direction, and a 90/10 sharing for any further difference. A reopening or review of the PBR terms may be triggered if the Utilities credit rating outlook indicates a potential credit downgrade below investment grade status, or if its achieved rate-making ROACE enters the outer most tier of the ESM. On August 31, 2023, the PUC issued an order temporarily suspending the ESM until further notice. The intent of the order is to address the unintended consequence of customers potentially bearing the costs associated with the Maui windstorm and wildfires through the operation of the ESM without prior PUC review. Exceptional project recovery mechanism . Prior to the implementation of the PBR Framework, the PUC established the Major Project Interim Recovery (MPIR) adjustment mechanism and MPIR Guidelines. The MPIR mechanism provides the opportunity to recover revenues for net costs of approved eligible projects placed in service between general rate cases. In establishing the PBR Framework, the MPIR Guidelines were terminated and replaced with the EPRM Guidelines. Although the MPIR Guidelines were terminated and replaced by the EPRM Guidelines, the MPIR mechanism will continue within the PBR Framework to provide recovery of project costs previously approved for recovery under the MPIR. The established EPRM Guidelines permit the Utilities to include the full amount of approved costs in the EPRM for recovery in the first year the project goes into service, pro-rated for the portion of the year the project is in service. Deferred and O&M expense projects are also eligible for EPRM recovery under the EPRM Guidelines. EPRM recoverable costs will be limited to the lesser of actual incurred project costs or PUC‑approved amounts, net of savings. As of September 30, 2024, the Utilities annualized MPIR and EPRM revenue amounts totaled $38.0 million, including revenue taxes, for the Schofield Generating Station ($16.1 million), West Loch PV project ($3.2 million), Grid Modernization Strategy (GMS) Phase 1 project ($16.1 million for all three utilities), Waiawa UFLS project ($0.1 million) and Waena Switchyard/Synchronous project ($2.5 million) that included the 2024 return on project amount (based on

Bank segment

Bank segment	9 Months Ended
	Sep. 30, 2024
Bank Subsidiary [Abstract]
Bank segment	Bank segment Selected financial information American Savings Bank, F.S.B. Statements of Income and Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 Interest and dividend income Interest and fees on loans $ 73,654 $ 71,540 $ 219,585 $ 204,348 Interest and dividends on investment securities 14,001 14,096 42,183 42,508 Total interest and dividend income 87,655 85,636 261,768 246,856 Interest expense Interest on deposit liabilities 19,018 14,446 54,465 30,944 Interest on other borrowings 6,403 8,598 21,036 25,171 Total interest expense 25,421 23,044 75,501 56,115 Net interest income 62,234 62,592 186,267 190,741 Provision for credit losses 248 8,835 (3,821) 10,053 Net interest income after provision for credit losses 61,986 53,757 190,088 180,688 Noninterest income Fees from other financial services 5,188 4,703 15,195 14,391 Fee income on deposit liabilities 5,156 4,924 14,684 14,027 Fee income on other financial products 3,131 2,440 8,834 7,952 Bank-owned life insurance 2,993 2,303 8,832 5,683 Mortgage banking income 363 341 1,151 701 Gain on sale of real estate — — — 495 Other income, net 658 627 1,767 2,106 Total noninterest income 17,489 15,338 50,463 45,355 Noninterest expense Compensation and employee benefits 31,485 29,902 93,746 89,500 Occupancy 5,630 5,154 15,913 16,281 Data processing 4,974 5,133 14,780 15,240 Services 3,816 3,627 12,217 8,911 Equipment 2,436 3,125 7,562 8,728 Office supplies, printing and postage 1,014 1,022 3,038 3,296 Marketing 885 984 2,408 2,834 Goodwill impairment — — 82,190 — Other expense 5,806 7,399 16,561 19,742 Total noninterest expense 56,046 56,346 248,415 164,532 Income (loss) before income taxes 23,429 12,749 (7,864) 61,511 Income tax (benefit) 4,651 1,384 (1,789) 11,380 Net income (loss) 18,778 11,365 (6,075) 50,131 Other comprehensive income (loss), net of taxes 40,204 (34,231) 32,069 (23,011) Comprehensive income (loss) $ 58,982 $ (22,866) $ 25,994 $ 27,120 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 Interest and dividend income $ 87,655 $ 85,636 $ 261,768 $ 246,856 Noninterest income 17,489 15,338 50,463 45,355 Less: Gain on sale of real estate — — — 495 *Revenues-Bank 105,144 100,974 312,231 291,716 Total interest expense 25,421 23,044 75,501 56,115 Provision for credit losses 248 8,835 (3,821) 10,053 Noninterest expense 56,046 56,346 248,415 164,532 Less: Gain on sale of real estate — — — 495 Less: Retirement defined benefits credit—other than service costs (257) (190) (818) (564) *Expenses-Bank 81,972 88,415 320,913 230,769 *Operating income (loss)-Bank 23,172 12,559 (8,682) 60,947 Add back: Retirement defined benefits credit—other than service costs (257) (190) (818) (564) Income (loss) before income taxes $ 23,429 $ 12,749 $ (7,864) $ 61,511 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. The Company has identified ASB as a reporting unit and ASB’s goodwill relates to past acquisitions and is ASB’s only intangible asset with an indefinite useful life. The Company performs assessments of the carrying value of its goodwill at least annually and whenever events occur or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. Examples of these events and circumstances include a significant change in business climate, an adverse action or assessment by a regulator, competition, loss of key personnel, a more-likely-than-not expectation that a reporting unit or a significant portion of a reporting unit will be sold or otherwise disposed of, and other factors. HEI and ASB have been undertaking a comprehensive review of strategic options for ASB. During the course of this process, HEI and ASB had determined it is more-likely-than-not that the fair value of ASB is less than its carrying value. In light of this, as part of its on-going goodwill evaluation and the change in circumstances, after performing the goodwill impairment test as of June 30, 2024, HEI and ASB determined the full amount of its goodwill was impaired. As a result of the June 30, 2024 impairment test ASB recorded a pretax goodwill impairment charge of $82.2 million in the second quarter 2024. The impairment charge is recorded in “Total Noninterest Expense” in ASB’s Statements of Income and Comprehensive Income Data, and recorded in “Bank Expenses” in the Company’s Condensed Consolidated Statements of Income. The impairment charge was non-cash in nature and did not affect the Company’s current liquidity, cash flows or any debt covenants under the Company’s existing credit agreements. American Savings Bank, F.S.B. Balance Sheets Data (in thousands) September 30, 2024 December 31, 2023 Assets Cash and due from banks $ 155,869 $ 184,383 Interest-bearing deposits 176,784 251,072 Cash and cash equivalents 332,653 435,455 Investment securities Available-for-sale, at fair value 1,084,083 1,136,439 Held-to-maturity, at amortized cost (fair value of $1,086,205 and $1,103,668, at September 30, 2024 and December 31, 2023, respectively) 1,159,229 1,201,314 Stock in Federal Home Loan Bank, at cost 29,204 14,728 Loans held for investment 6,037,410 6,180,810 Allowance for credit losses (64,796) (74,372) Net loans 5,972,614 6,106,438 Loans held for sale, at lower of cost or fair value 2,704 15,168 Other 687,359 681,460 Goodwill — 82,190 Total assets $ 9,267,846 $ 9,673,192 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,486,717 $ 2,599,762 Deposit liabilities—interest-bearing 5,512,493 5,546,016 Other borrowings 520,000 750,000 Other 191,512 247,563 Total liabilities 8,710,722 9,143,341 Common stock 1 1 Additional paid-in capital 359,346 358,067 Retained earnings 457,980 464,055 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (251,703) $ (282,963) Retirement benefit plans (8,500) (260,203) (9,309) (292,272) Total shareholder’s equity 557,124 529,851 Total liabilities and shareholder’s equity $ 9,267,846 $ 9,673,192 Other assets Bank-owned life insurance $ 199,741 $ 187,857 Premises and equipment, net 180,073 187,042 Accrued interest receivable 28,764 28,472 Mortgage-servicing rights 7,722 8,169 Low-income housing investments 100,499 112,234 Deferred tax asset 108,338 104,292 Other 62,222 53,394 Total other assets $ 687,359 $ 681,460 Other liabilities Accrued expenses $ 80,788 $ 115,231 Cashier’s checks 35,625 40,479 Advance payments by borrowers 4,373 10,107 Other 70,726 81,746 Total other liabilities $ 191,512 $ 247,563 Bank-owned life insurance is life insurance purchased by ASB on the lives of certain key employees, with ASB as the beneficiary. The insurance is used to fund employee benefits through tax-free income from increases in the cash value of the policies and insurance proceeds paid to ASB upon an insured’s death. Other borrowings consisted of FHLB advances and borrowings from the Federal Reserve Bank. Investment securities. The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair Amount Number of issues Fair Amount September 30, 2024 Available-for-sale U.S. Treasury and federal agency obligations $ 7,789 $ — $ (192) $ 7,597 — $ — $ — 6 $ 7,597 $ (192) Mortgage-backed securities* 1,203,271 31 (174,675) 1,028,627 — — — 108 1,025,897 (174,675) Corporate bonds 35,137 — (1,213) 33,924 — — — 3 33,924 (1,213) Mortgage revenue bonds 13,935 — — 13,935 — — — — — — $ 1,260,132 $ 31 $ (176,080) $ 1,084,083 — $ — $ — 117 $ 1,067,418 $ (176,080) Held-to-maturity U.S. Treasury and federal agency obligations $ 59,935 $ — $ (5,686) $ 54,249 — $ — $ — 3 $ 54,249 $ (5,686) Mortgage-backed securities* 1,099,294 6,355 (73,693) 1,031,956 — — — 65 648,634 (73,693) $ 1,159,229 $ 6,355 $ (79,379) $ 1,086,205 — $ — $ — 68 $ 702,883 $ (79,379) December 31, 2023 Available-for-sale U.S. Treasury and federal agency obligations $ 12,437 $ — $ (427) $ 12,010 — $ — $ — 9 $ 12,010 $ (427) Mortgage-backed securities* 1,279,852 — (202,684) 1,077,168 3 1,649 (22) 116 1,075,519 (202,662) Corporate bonds 35,239 — (2,336) 32,903 — — — 3 32,903 (2,336) Mortgage revenue bonds 14,358 — — 14,358 — — — — — — $ 1,341,886 $ — $ (205,447) $ 1,136,439 3 $ 1,649 $ (22) 128 $ 1,120,432 $ (205,425) Held-to-maturity U.S. Treasury and federal agency obligations $ 59,917 $ — $ (7,135) $ 52,782 — $ — $ — 3 $ 52,782 $ (7,135) Mortgage-backed securities* 1,141,397 2,221 (92,732) 1,050,886 37 378,326 (7,610) 43 432,082 (85,122) $ 1,201,314 $ 2,221 $ (99,867) $ 1,103,668 37 $ 378,326 $ (7,610) 46 $ 484,864 $ (92,257) * Issued or guaranteed by U.S. Government agencies or sponsored agencies ASB does not believe that the investment securities that were in an unrealized loss position at September 30, 2024 and December 31, 2023, 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, an agency of the government or a government-sponsored entity. ASB does not intend to sell the securities before the recovery of its amortized cost basis and there have been no adverse changes in the timing of the contractual cash flows for the securities. ASB’s investment securities portfolio did not require an allowance for credit losses at September 30, 2024 and December 31, 2023. U.S. Treasury, federal agency obligations, corporate bonds, and mortgage revenue bonds have contractual terms to maturity. Mortgage-backed securities have contractual terms to maturity, but require periodic payments to reduce principal. In addition, expected maturities will differ from contractual maturities because borrowers have the right to prepay the underlying mortgages. The contractual maturities of investment securities were as follows: September 30, 2024 Amortized Fair value (in thousands) Available-for-sale Due in one year or less $ 370 $ 364 Due after one year through five years 42,557 41,157 Due after five years through ten years 13,934 13,935 Due after ten years — — 56,861 55,456 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,203,271 1,028,627 Total available-for-sale securities $ 1,260,132 $ 1,084,083 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years 39,858 36,634 Due after five years through ten years 20,077 17,615 Due after ten years — — 59,935 54,249 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,099,294 1,031,956 Total held-to-maturity securities $ 1,159,229 $ 1,086,205 There were no sales of available-for-sale securities for the three and nine months ended September 30, 2024 and 2023. The components of loans were summarized as follows: September 30, 2024 December 31, 2023 (in thousands) Real estate: Residential 1-4 family $ 2,608,281 $ 2,595,162 Commercial real estate 1,366,214 1,374,038 Home equity line of credit 959,607 1,017,207 Residential land 19,900 18,364 Commercial construction 208,867 172,405 Residential construction 16,998 17,843 Total real estate 5,179,867 5,195,019 Commercial 645,571 743,303 Consumer 239,410 272,256 Total loans 6,064,848 6,210,578 Less: Deferred fees and discounts (27,438) (29,768) Allowance for credit losses (64,796) (74,372) Total loans, net $ 5,972,614 $ 6,106,438 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. As of September 30, 2024, ASB had commitments to borrowers for loans and unused lines and letters of credit of $1.8 billion, of which, commitments to lend to borrowers experiencing financial difficulty whose loan terms have been modified were nil. Allowance for credit losses. The allowance for credit losses (balances and changes) by portfolio segment were as follows: (in thousands) Residential Commercial real Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Total Three months ended September 30, 2024 Allowance for credit losses: Beginning balance $ 6,219 $ 18,656 $ 9,552 $ 759 $ 3,369 $ 38 $ 6,317 $ 21,903 $ 66,813 Charge-offs (8) — — — — — (120) (2,999) (3,127) Recoveries 9 — 12 — — — 100 741 862 Provision (211) 96 (443) (147) (278) (1) (292) 1,524 248 Ending balance $ 6,009 $ 18,752 $ 9,121 $ 612 $ 3,091 $ 37 $ 6,005 $ 21,169 $ 64,796 Three months ended September 30, 2023 Allowance for credit losses: Beginning balance $ 4,708 $ 20,278 $ 7,139 $ 653 $ 2,549 $ 26 $ 11,358 $ 22,357 $ 69,068 Charge-offs — — — — — — (125) (2,667) (2,792) Recoveries 57 — 131 1 — — 725 841 1,755 Provision 1,702 2,180 505 (33) 1,075 16 (1,175) 4,065 8,335 Ending balance $ 6,467 $ 22,458 $ 7,775 $ 621 $ 3,624 $ 42 $ 10,783 $ 24,596 $ 76,366 Nine months ended September 30, 2024 Allowance for credit losses: Beginning balance $ 7,435 $ 22,185 $ 7,778 $ 621 $ 3,603 $ 43 $ 9,122 $ 23,585 $ 74,372 Charge-offs (850) — — — — — (360) (8,718) (9,928) Recoveries 202 — 259 — — — 385 2,427 3,273 Provision (778) (3,433) 1,084 (9) (512) (6) (3,142) 3,875 (2,921) Ending balance $ 6,009 $ 18,752 $ 9,121 $ 612 $ 3,091 $ 37 $ 6,005 $ 21,169 $ 64,796 Nine months ended September 30, 2023 Allowance for credit losses: Beginning balance $ 6,270 $ 21,898 $ 6,125 $ 717 $ 1,195 $ 46 $ 12,426 $ 23,539 $ 72,216 Charge-offs (990) — (360) — — — (509) (7,558) (9,417) Recoveries 63 — 165 4 — — 1,329 2,653 4,214 Provision 1,124 560 1,845 (100) 2,429 (4) (2,463) 5,962 9,353 Ending balance $ 6,467 $ 22,458 $ 7,775 $ 621 $ 3,624 $ 42 $ 10,783 $ 24,596 $ 76,366 Allowance for loan commitments. The allowance for loan commitments by portfolio segment were as follows: (in thousands) Home equity Commercial construction Commercial loans Total Three months ended September 30, 2024 Allowance for loan commitments: Beginning balance $ 700 $ 3,100 $ 400 $ 4,200 Provision — — — — Ending balance $ 700 $ 3,100 $ 400 $ 4,200 Three months ended September 30, 2023 Allowance for loan commitments: Beginning balance $ 600 $ 3,800 $ 200 $ 4,600 Provision — 500 — 500 Ending balance $ 600 $ 4,300 $ 200 $ 5,100 Nine months ended September 30, 2024 Allowance for loan commitments: Beginning balance $ 600 $ 4,300 $ 200 $ 5,100 Provision 100 (1,200) 200 (900) Ending balance $ 700 $ 3,100 $ 400 $ 4,200 Nine months ended September 30, 2023 Allowance for loan commitments: Beginning balance $ 400 $ 2,600 $ 1,400 $ 4,400 Provision 200 1,700 (1,200) 700 Ending balance $ 600 $ 4,300 $ 200 $ 5,100 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) 2024 2023 2022 2021 2020 Prior Revolving Converted to term loans Total September 30, 2024 Residential 1-4 family Current $ 131,347 $ 253,155 $ 397,855 $ 706,189 $ 385,208 $ 726,220 $ — $ — $ 2,599,974 30-59 days past due — — — 333 264 1,541 — — 2,138 60-89 days past due — — — — — 891 — — 891 Greater than 89 days past due — — 727 543 — 4,008 — — 5,278 131,347 253,155 398,582 707,065 385,472 732,660 — — 2,608,281 Home equity line of credit Current — — — — — — 888,858 67,452 956,310 30-59 days past due — — — — — — 969 419 1,388 60-89 days past due — — — — — — 624 449 1,073 Greater than 89 days past due — — — — — — 732 104 836 — — — — — — 891,183 68,424 959,607 Residential land Current 5,889 3,689 4,513 3,473 1,729 607 — — 19,900 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 5,889 3,689 4,513 3,473 1,729 607 — — 19,900 Residential construction Current 831 9,640 6,527 — — — — — 16,998 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 831 9,640 6,527 — — — — — 16,998 Consumer Current 31,632 63,848 120,783 5,061 648 280 9,635 1,790 233,677 30-59 days past due 503 566 1,387 101 4 — 67 96 2,724 60-89 days past due 111 402 990 61 8 — 21 40 1,633 Greater than 89 days past due 88 353 602 40 6 — 116 171 1,376 32,334 65,169 123,762 5,263 666 280 9,839 2,097 239,410 Commercial real estate Pass 35,630 104,725 376,087 188,549 256,108 368,171 15,482 — 1,344,752 Special Mention — — 1,208 1,455 — 1,106 — — 3,769 Substandard — — — 1,505 — 13,990 — — 15,495 Doubtful — — — — — 2,198 — — 2,198 35,630 104,725 377,295 191,509 256,108 385,465 15,482 — 1,366,214 Commercial construction Pass — 68,962 41,201 17,685 1,333 — 79,686 — 208,867 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — — 68,962 41,201 17,685 1,333 — 79,686 — 208,867 Commercial Pass 90,529 80,793 171,002 71,410 44,575 75,689 95,912 7,074 636,984 Special Mention — — — — — — — — — Substandard 1,058 — 3,812 158 — 2,635 799 51 8,513 Doubtful — — — — 74 — — — 74 91,587 80,793 174,814 71,568 44,649 78,324 96,711 7,125 645,571 Total loans $ 297,618 $ 586,133 $ 1,126,694 $ 996,563 $ 689,957 $ 1,197,336 $ 1,092,901 $ 77,646 $ 6,064,848 Term Loans by Origination Year Revolving Loans (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Converted to term loans Total December 31, 2023 Residential 1-4 family Current $ 263,605 $ 407,304 $ 729,256 $ 399,766 $ 104,487 $ 672,408 $ — $ — $ 2,576,826 30-59 days past due — 708 — 268 — 3,525 — — 4,501 60-89 days past due — 726 2,694 — — 1,745 — — 5,165 Greater than 89 days past due — 2,519 871 1,129 489 3,662 — — 8,670 263,605 411,257 732,821 401,163 104,976 681,340 — — 2,595,162 Home equity line of credit Current — — — — — — 954,461 59,146 1,013,607 30-59 days past due — — — — — — 1,219 262 1,481 60-89 days past due — — — — — — 597 — 597 Greater than 89 days past due — — — — — — 1,111 411 1,522 — — — — — — 957,388 59,819 1,017,207 Residential land Current 3,788 4,097 7,234 1,847 — 723 — — 17,689 30-59 days past due — — — — — — — — — 60-89 days past due — 675 — — — — — — 675 Greater than 89 days past due — — — — — — — — — 3,788 4,772 7,234 1,847 — 723 — — 18,364 Residential construction Current 5,369 10,984 1,490 — — — — — 17,843 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 5,369 10,984 1,490 — — — — — 17,843 Consumer Current 87,686 153,239 9,852 1,654 451 200 10,663 2,779 266,524 30-59 days past due 805 1,314 176 29 24 — 56 163 2,567 60-89 days past due 385 886 114 41 21 — 60 69 1,576 Greater than 89 days past due 354 786 101 24 34 — 67 223 1,589 89,230 156,225 10,243 1,748 530 200 10,846 3,234 272,256 Commercial real estate Pass 104,368 384,144 180,986 267,458 65,625 307,367 15,482 — 1,325,430 Special Mention — 1,975 11,159 — 14,110 3,008 — — 30,252 Substandard — — 1,538 — 11,048 5,770 — — 18,356 Doubtful — — — — — — — — — 104,368 386,119 193,683 267,458 90,783 316,145 15,482 — 1,374,038 Commercial construction Pass 45,863 33,240 26,133 1,333 — — 65,836 — 172,405 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 45,863 33,240 26,133 1,333 — — 65,836 — 172,405 Commercial Pass 124,667 199,796 106,669 73,976 37,580 80,012 87,206 6,250 716,156 Special Mention 1,860 6,989 951 — 250 — 7,352 — 17,402 Substandard — 2,962 1,848 98 60 3,369 1,275 133 9,745 Doubtful — — — — — — — — — 126,527 209,747 109,468 74,074 37,890 83,381 95,833 6,383 743,303 Total loans $ 638,750 $ 1,212,344 $ 1,081,072 $ 747,623 $ 234,179 $ 1,081,789 $ 1,145,385 $ 69,436 $ 6,210,578 Gross charge-offs by portfolio segment and vintage were as follows: (in thousands) 2024 2023 2022 2021 2020 Prior Total Nine months ended September 30, 2024 Residential 1-4 family $ — $ — $ 361 $ 277 $ — $ 212 $ 850 Commercial real estate — — — — — — — Home equity line of credit — — — — — — — Residential land — — — — — — — Commercial construction — — — — — — — Residential construction — — — — — — — Commercial — — 12 63 — 285 360 Consumer 733 2,853 4,329 481 102 220 8,718 Total $ 733 $ 2,853 $ 4,702 $ 821 $ 102 $ 717 $ 9,928 Revolving loans converted to term loans during the nine months ended September 30, 2024 in the commercial, home equity line of credit and consumer portfolios were $2.6 million, $18.1 million and $0.5 million, respectively. Revolving loans converted to term loans during the nine months ended September 30, 2023 in the commercial, home equity line of credit and consumer portfolios were $6.1 million, $20.4 million and $1.1 million, respectively. The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 60-89 90 days or more past due Total Current Total Amortized cost> September 30, 2024 Real estate: Residential 1-4 family $ 2,138 $ 891 $ 5,278 $ 8,307 $ 2,599,974 $ 2,608,281 $ — Commercial real estate — — 10,698 10,698 1,355,516 1,366,214 — Home equity line of credit 1,388 1,073 836 3,297 956,310 959,607 — Residential land — — — — 19,900 19,900 — Commercial construction — — — — 208,867 208,867 — Residential construction — — — — 16,998 16,998 — Commercial 309 9 74 392 645,179 645,571 — Consumer 2,724 1,633 1,376 5,733 233,677 239,410 — Total loans $ 6,559 $ 3,606 $ 18,262 $ 28,427 $ 6,036,421 $ 6,064,848 $ — December 31, 2023 Real estate: Residential 1-4 family $ 4,501 $ 5,165 $ 8,670 $ 18,336 $ 2,576,826 $ 2,595,162 $ 425 Commercial real estate — — 11,048 11,048 1,362,990 1,374,038 — Home equity line of credit 1,481 597 1,522 3,600 1,013,607 1,017,207 — Residential land — 675 — 675 17,689 18,364 — Commercial construction — — — — 172,405 172,405 — Residential construction — — — — 17,843 17,843 — Commercial 163 135 244 542 742,761 743,303 — Consumer 2,567 1,576 1,589 5,732 266,524 272,256 — Total loans $ 8,712 $ 8,148 $ 23,073 $ 39,933 $ 6,170,645 $ 6,210,578 $ 425 The credit risk profile based on nonaccrual loans were as follows: (in thousands) September 30, 2024 December 31, 2023 With a related ACL Without a related ACL Total With a related ACL Without a related ACL Total Real estate: Residential 1-4 family $ 4,335 $ 4,107 $ 8,442 $ 7,755 $ 2,190 $ 9,945 Commercial real estate 10,698 — 10,698 11,048 — 11,048 Home equity line of credit 3,346 553 3,899 2,626 1,135 3,761 Residential land — — — 780 — 780 Commercial construction — — — — — — Residential construction — — — — — — Commercial 175 158 333 133 301 434 Consumer 2,273 — 2,273 2,458 — 2,458 Total $ 20,827 $ 4,818 $ 25,645 $ 24,800 $ 3,626 $ 28,426 ASB did not recognize interest on nonaccrual loans for the nine months ended September 30, 2024 and 2023. Modifications Made to Borrowers Experiencing Financial Difficulty. The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon origination. The starting point for the estimate of the allowance for credit losses is historical loan information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. ASB uses a probability of default/loss given default model to determine the allowance for credit losses. An assessment of whether a borrower is experiencing financial difficulty is made at the time of the modification. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses, a change to the allowance for credit losses is generally not recorded upon modification. Modifications may include interest rate reductions, interest only payments for an extended period of time, protracted terms such as amortization and maturity beyond the customary length of time found in the normal marketplace, and other actions intended to minimize economic loss and to provide alternatives to foreclosure or repossession of collateral. Loan modifications made to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2024 were as follows: (in thousands) Term extension Interest Rate Reduction Payment delay Combination payment delay & term extension Total % of total class of loans Three months ended September 30, 2024 Real estate loans Residential 1-4 family $ 153 $ — $ 1,850 $ — $ 2,003 0.08 % Commercial real estate — — — — — — Home equity line of credit — 153 — — 153 0.02 Residential land — — — — — — Commercial construction — — — — — — Residential construction — — — — — — Commercial — — — — — — Consumer — — — — — — Total $ 153 $ 153 $ 1,850 $ — $ 2,156 0.04 % Nine months ended September 30, 2024 Real estate loans Residential 1-4 family $ 468 $ — $ 6,764 $ — $ 7,232 0.28 % Commercial real estate — — — 1,208 1,208 0.09 % Home equity line of credit — 153 447 — 600 0.06 % Residential land — — 675 — 675 3.39 % Commercial construction — — — — — — Residential construction — — — — — — Commercial — — — — — — Consumer — — — — — — Total $ 468 $ 153 $ 7,886 $ 1,208 $ 9,715 0.16 % Financial effect of loan modifications during the three and nine months ended September 30, 2024 for borrowers experiencing financial difficulty were as follows: Weighted average Term extension (in months) Interest Rate Reduction (in percent) Payment delay (in months) Three months ended September 30, 2024 Real estate loans Residential 1-4 family 329 — 6 Commercial real estate — — — Home equity line of credit — 3.00 % — Residential land — — — Commercial construction — — — Residential construction — — — Commercial — — — Consumer — — — Nine months ended September 30, 2024 Real estate loans Residential 1-4 family 208 — 9 Commercial real estate 9 — 9 Home equity line of credit — 3.00 % 11 Residential land — — 9 Commercial construction — — — Residential construction — — — Commercial — — — Consumer — — — Credit risk profile based on payment activity for loans modified during the nine months ended September 30, 2024 were as follows: (in thousands) Current 30-59 days past due 60-89 days past due 90 days or more past due Total Real estate loans Residential 1-4 family $ 4,867 $ 264 $ — $ 2,101 $ 7,232 Commercial real estate 1,208 — — — 1,208 Home equity line of credit 447 — 153 — 600 Residential land 675 — — — 675 Commercial construction — — — — — Residential construction — — — — — Commercial — — — — — Consumer — — — — — Total $ 7,197 $ 264 $ 153 $ 2,101 $ 9,715 During the nine months ended September 30, 2024, there were no loan modifications made to borrowers experiencing financial difficulty that defaulted. Collateral-dependent loans. A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the operation or sale of the collateral. Loans considered collateral-dependent were as follows: Amortized cost (in thousands) September 30, 2024 December 31, 2023 Collateral type Real estate: Residential 1-4 family $ 4,184 $ 2,272 Residential real estate property Commercial real estate 10,698 11,048 Commercial real estate property Home equity line of credit 662 1,135 Residential real estate property Total real estate 15,544 14,455 Commercial 232 301 Business assets Total $ 15,776 $ 14,756 ASB had $2.7 million and $3.4 million of consumer mortgage loans collateralized by residential real estate property that were in the process of foreclosure at September 30, 2024 and December 31, 2023, respectively. Mortgage servicing rights (MSRs) . In its mortgage banking business, ASB sells residential mortgage loans to government-sponsored entities and other parties, who may issue securities backed by pools of such loans. ASB retains no beneficial interests in these loans other than the servicing rights of certain loans sold. ASB received proceeds from the sale of residential mortgages of $28.1 million and $21.5 million for the three months ended September 30, 2024 and 2023, respectively, and recognized gains on such sales of $0.4 million and $0.3 million for the three months ended September 30, 2024 and 2023, respectively. ASB received proceeds from the sale of residential mortgages of $85.4 million and $36.1 million for the nine months ended September 30, 2024 and 2023, respectively, and recognized gains on such sales of $1.2 million and $0.7 million for the nine months ended September 30, 2024 and 2023, respectively. There were no repurchased mortgage loans for the nine months ended September 30, 2024 and 2023. Mortgage servicing fees, a component of other income, net, were $0.9 million for the three months ended September 30, 2024 and 2023. Mortgage servicing fees, a component of other income, net, were $2.6 million and $2.7 million for the nine months ended September 30, 2024 and 2023, respectively. Changes in the carrying value of MSRs were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net September 30, 2024 $ 18,284 $ (10,562) $ — $ 7,722 December 31, 2023 18,241 (10,072) — 8,169 Changes related to MSRs were as follows: Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 Mortgage servicing rights Beginning balance $ 7,906 $ 8,495 $ 8,169 $ 9,047 Amount capitalized 171 184 548 319 Amortization (355) (303) (995) (990) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 7,722 8,376 7,722 8,376 Valuation allowance for mortgage servicing rights Beginning balance — — — — Provision — — — — Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 7,722 $ 8,376 $ 7,722 $ 8,376 ASB capitalizes MSRs acquired upon the sale of mortgage loans with servicing rights retained. On a monthly basis, ASB compares the net carrying value of the MSRs to its fair value to determine if there are any changes to the valuation allowance and/or other-than-temporary impairment for the MSRs. ASB uses a present value cash flow model to estimate the fair value of MSRs. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with

Credit agreements and changes i

Credit agreements and changes in debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Credit agreements and changes in debt	Credit agreements and changes in debt On May 14, 2021, HEI and Hawaiian Electric each entered into a separate agreement with a syndicate of nine financial institutions (the HEI Facility and Hawaiian Electric Facility, respectively, and together, the Credit Facilities) to amend and restate their respective previously existing revolving unsecured credit agreements. The $175 million HEI Facility’s initial termination date was May 14, 2026. The $200 million Hawaiian Electric Facility’s initial termination date was May 13, 2022, but on February 18, 2022, the PUC approved Hawaiian Electric’s request to extend the term of the $200 million Hawaiian Electric Facility to May 14, 2026. In addition to extending the term, Hawaiian Electric also received PUC approval to exercise its options of two one-year extensions of the commitment termination date and to increase its aggregate revolving commitment amount from $200 million to $275 million, should there be a need. On April 21, 2023, HEI and Hawaiian Electric executed Amendment No. 1 to the Credit Facilities (Amendment). The Amendment was executed to reflect the transition from the London Inter-Bank Offered Rate to the Term Secured Overnight Financing Rate (SOFR) as the benchmark interest rate for non-Alternate Base Rate (ABR) Loans under the Credit Facilities. On May 14, 2023, HEI and Hawaiian Electric exercised their first of two, one-year extensions to the commitment termination date with eight of the nine financial institutions to extend the Credit Facilities to May 14, 2027. The committed capacities under the HEI Facility and Hawaiian Electric Facility are $175 million and $200 million, respectively, through May 14, 2026, and step down to approximately $157 million and $180 million, respectively, through May 14, 2027. In August 2023, HEI and Hawaiian Electric drew the full committed capacity on their respective existing revolving credit facilities, totaling $175 million and $200 million, respectively. The draws were made to provide access to liquidity and support the Company’s restoration efforts on Maui. The cash proceeds were primarily invested in highly liquid short-term investments and used for general corporate purposes. Under the HEI and Hawaiian Electric Intercompany Borrowing and Investment Policy effective January 1, 2020 (the Intercompany Borrowing Policy), HEI has committed to make revolving short-term loans to Hawaiian Electric pursuant to the terms set forth in the standing commitment letter dated December 8, 2023 (the 2023 Commitment Letter). For loans that mature on or before December 6, 2024, the 2023 Commitment Letter provides a borrowing limit of $75 million outstanding at any time and the applicable interest rate. Hawaiian Electric currently has no borrowings under the Intercompany Borrowing Policy and the 2023 Commitment Letter. Asset-backed lending facility credit agreement . On May 17, 2024, Hawaiian Electric, through a special-purpose subsidiary, entered into an asset-based lending facility (ABL Facility) credit agreement (ABL Credit Facility Agreement) with several banks, which, subject to the limitations and conditions set forth in such agreement, including approval by the PUC, allows borrowings of up to $250 million on a revolving basis using certain accounts receivable as collateral. Hawaiian Electric filed an application with the PUC for approval to (i) sell accounts receivable, and (ii) establish a long-term credit facility. The first approval would allow the ABL Credit Facility Agreement to become effective for 364 days and the second approval would extend the term of the ABL Credit Facility Agreement from 364 days to three years. The ABL Credit Facility Agreement has an initial term of 364 days, with an automatic extension to three years upon receipt of the second PUC approval, with three separate options to extend one Changes in debt. As of September 30, 2024, the Company and Hawaiian Electric were in compliance with all applicable financial covenants. Mahipapa non-recourse loan . In March 2024, a fire destroyed the cooling tower at the Mahipapa facility on Kauai. The fire was ignited from a vendor’s welding activities being performed on the cooling tower during its scheduled maintenance. The plant is currently shut down while repairs are being performed. As a result, on June 26, 2024, the lender granted Mahipapa a deferral of two scheduled (July 2024 and September 2024) principal and interest payments totaling $3 million. The deferred payments will be repaid in quarterly payments commencing in March 2025. Mahipapa will re-commence debt payments in December 2024.

Shareholders' equity

Shareholders' equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Shareholders' equity	Shareholders' equity Accumulated other comprehensive income/(loss) . Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized gains (losses) on derivatives Retirement benefit plans AOCI AOCI-Retirement benefit plans Balance, December 31, 2023 $ (282,963) $ 1,638 $ (8,025) $ (289,350) $ 2,849 Current period other comprehensive income (loss) 31,260 (220) 113 31,153 (93) Balance, September 30, 2024 $ (251,703) $ 1,418 $ (7,912) $ (258,197) $ 2,756 Balance, December 31, 2022 $ (328,904) $ 1,991 $ (9,115) $ (336,028) $ 2,861 Current period other comprehensive income (loss) (21,330) (827) 161 (21,996) (166) Balance, September 30, 2023 $ (350,234) $ 1,164 $ (8,954) $ (358,024) $ 2,695 Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 HEI consolidated Amortization of unrealized holding losses on held-to-maturity securities $ 3,366 $ 3,699 $ 9,740 $ 11,065 Bank revenues Net realized gains on derivatives qualifying as cash flow hedges (52) (47) (151) (143) Interest expense Retirement benefit plans: Amortization of prior service credit and net gains recognized during the period in net periodic benefit cost (1,244) (446) (2,138) (1,160) See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 1,333 470 2,251 1,321 See Note 9 for additional details Total reclassifications $ 3,403 $ 3,676 $ 9,702 $ 11,083 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net gains recognized during the period in net periodic benefit cost $ (1,331) $ (547) $ (2,344) $ (1,487) See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 1,333 470 2,251 1,321 See Note 9 for additional details Total reclassifications $ 2 $ (77) $ (93) $ (166)

Revenues

Revenues	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Three months ended September 30, 2024 Nine months ended September 30, 2024 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 272,541 $ — $ — $ 272,541 $ 758,602 $ — $ — $ 758,602 Electric energy sales - commercial 268,538 — — 268,538 761,788 — — 761,788 Electric energy sales - large light and power 294,421 — — 294,421 846,448 — — 846,448 Electric energy sales - other 4,532 — — 4,532 14,087 — — 14,087 Bank fees — 13,475 — 13,475 — 38,713 — 38,713 Other sales — — 2,897 2,897 — — 9,167 9,167 Total revenues from contracts with customers 840,032 13,475 2,897 856,404 2,380,925 38,713 9,167 2,428,805 Revenues from other sources Regulatory revenue (19,924) — — (19,924) 780 — — 780 Bank interest and dividend income — 87,655 — 87,655 — 261,768 — 261,768 Other bank noninterest income — 4,014 — 4,014 — 11,750 — 11,750 Other 9,509 — 725 10,234 28,821 — 977 29,798 Total revenues from other sources (10,415) 91,669 725 81,979 29,601 273,518 977 304,096 Total revenues $ 829,617 $ 105,144 $ 3,622 $ 938,383 $ 2,410,526 $ 312,231 $ 10,144 $ 2,732,901 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 13,475 $ — $ 13,475 $ — $ 38,713 $ — $ 38,713 Services/goods transferred over time 840,032 — 2,897 842,929 2,380,925 — 9,167 2,390,092 Total revenues from contracts with customers $ 840,032 $ 13,475 $ 2,897 $ 856,404 $ 2,380,925 $ 38,713 $ 9,167 $ 2,428,805 Three months ended September 30, 2023 Nine months ended September 30, 2023 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 257,790 $ — $ — $ 257,790 $ 753,207 $ — $ — $ 753,207 Electric energy sales - commercial 257,876 — — 257,876 762,454 — — 762,454 Electric energy sales - large light and power 284,607 — — 284,607 855,396 — — 855,396 Electric energy sales - other 4,688 — — 4,688 14,628 — — 14,628 Bank fees — 12,067 — 12,067 — 36,370 — 36,370 Other sales — — 5,016 5,016 — — 13,361 13,361 Total revenues from contracts with customers 804,961 12,067 5,016 822,044 2,385,685 36,370 13,361 2,435,416 Revenues from other sources Regulatory revenue (20,927) — — (20,927) 3,716 — — 3,716 Bank interest and dividend income — 85,636 — 85,636 — 246,856 — 246,856 Other bank noninterest income — 3,271 — 3,271 — 8,490 — 8,490 Other 10,953 — 896 11,849 30,138 — 1,179 31,317 Total revenues from other sources (9,974) 88,907 896 79,829 33,854 255,346 1,179 290,379 Total revenues $ 794,987 $ 100,974 $ 5,912 $ 901,873 $ 2,419,539 $ 291,716 $ 14,540 $ 2,725,795 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 12,067 $ — $ 12,067 $ — $ 36,370 $ — $ 36,370 Services/goods transferred over time 804,961 — 5,016 809,977 2,385,685 — 13,361 2,399,046 Total revenues from contracts with customers $ 804,961 $ 12,067 $ 5,016 $ 822,044 $ 2,385,685 $ 36,370 $ 13,361 $ 2,435,416 There are no material contract assets or liabilities associated with revenues from contracts with customers existing at December 31, 2023 or as of September 30, 2024. Accounts receivable and unbilled revenues related to contracts with customers represent an unconditional right to consideration since all performance obligations have been satisfied. These amounts are disclosed as accounts receivable and unbilled revenues, net on HEI’s condensed consolidated balance sheets and customer accounts receivable, net and accrued unbilled revenues, net on Hawaiian Electric’s condensed consolidated balance sheets. As of September 30, 2024, the Company had no material remaining performance obligations due to the nature of the Company’s contracts with its customers. For the Utilities, performance obligations are fulfilled as electricity is delivered to customers. For ASB, fees are recognized when a transaction is completed.

Retirement benefits

Retirement benefits	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Retirement benefits	Retirement benefits Defined benefit pension and other postretirement benefit plans information. The Company contributed $5 million ($5 million by the Utilities) to its pension and other postretirement benefit plans during the first nine months of 2024, compared to $6 million ($6 million by the Utilities) in the first nine months of 2023. The Company’s current estimate of total contributions to its pension and other postretirement benefit plans in 2024 is $9 million ($9 million by the Utilities), compared to $8 million ($8 million by the Utilities) in 2023. In addition, in 2024, comparable to 2023, the Company expects to pay directly $3 million ($1 million by the Utilities) of benefits. The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended September 30 Nine months ended September 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2024 2023 2024 2023 2024 2023 2024 2023 HEI consolidated Service cost $ 12,061 $ 11,418 $ 270 $ 385 $ 34,590 $ 34,210 $ 833 $ 1,072 Interest cost 26,542 26,022 1,808 2,075 79,554 77,265 5,542 6,389 Expected return on plan assets (35,993) (35,238) (3,490) (3,426) (107,957) (105,630) (10,462) (10,236) Amortization of net prior period gain — — — (218) — — — (656) Amortization of net actuarial (gain)/losses 188 138 (763) (518) 410 515 (2,188) (1,416) Net periodic pension/benefit cost (return) 2,798 2,340 (2,175) (1,702) 6,597 6,360 (6,275) (4,847) Impact of PUC D&Os 17,406 17,663 2,052 1,536 53,585 53,929 5,827 4,385 Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os) $ 20,204 $ 20,003 $ (123) $ (166) $ 60,182 $ 60,289 $ (448) $ (462) Hawaiian Electric consolidated Service cost $ 11,670 $ 11,071 $ 266 $ 380 $ 33,502 $ 33,108 $ 822 $ 1,060 Interest cost 24,615 24,116 1,721 1,981 73,869 71,513 5,279 6,107 Expected return on plan assets (33,769) (33,029) (3,438) (3,374) (101,321) (98,972) (10,306) (10,081) Amortization of net prior period gain — — — (218) — — — (654) Amortization of net actuarial (gain)/losses 51 (16) (742) (503) 74 21 (2,130) (1,370) Net periodic pension/benefit cost (return) 2,567 2,142 (2,193) (1,734) 6,124 5,670 (6,335) (4,938) Impact of PUC D&Os 17,406 17,663 2,052 1,536 53,585 53,929 5,827 4,385 Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os) $ 19,973 $ 19,805 $ (141) $ (198) $ 59,709 $ 59,599 $ (508) $ (553) HEI consolidated recorded retirement benefits expense of $34 million ($34 million by the Utilities) in the first nine months of 2024 and $33 million ($32 million by the Utilities) in the first nine months of 2023 and charged the remaining net periodic benefit cost primarily to electric utility plant. The Utilities have implemented pension and OPEB tracking mechanisms under which all of their retirement benefit expenses (except for executive life and nonqualified pension plan expenses) determined in accordance with GAAP are recovered over time. Under the tracking mechanisms, any actual costs determined in accordance with GAAP that are over/under amounts allowed in rates are charged/credited to a regulatory asset/liability. The regulatory asset/liability for each utility will then be amortized over five years beginning with the respective utility’s next rate case. Defined contribution plans information. For the first nine months of 2024 and 2023, the Company’s expenses for its defined contribution plans under the Hawaiian Electric Industries Retirement Savings Plan (HEIRSP) and the ASB 401(k) Plan were $8.9 million and $7.0 million, respectively, and cash contributions were $8.9 million and $7.6 million, respectively. For the first nine months of 2024 and 2023, the Utilities’ expenses and cash contributions for its defined contribution plan under the HEIRSP were $5.5 million and $4.3 million, respectively.

Share-based compensation

Share-based compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-based compensation	Share-based compensation Under the 2010 Equity and Incentive Plan, as amended and restated effective February 9, 2024 (EIP), HEI can issue shares of common stock as incentive compensation to non-employee directors and selected employees and consultants in the form of stock options, stock appreciation rights, restricted shares, restricted stock units, performance shares and other share-based and cash-based awards. As of September 30, 2024, approximately 2.5 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 0.9 million shares that could be issued upon the vesting of outstanding restricted stock units and the achievement of performance goals for awards outstanding under long-term incentive plans (assuming that such performance goals are achieved at maximum levels). Under the 2011 Nonemployee Director Stock Plan (2011 Director Plan), HEI can issue shares of common stock as compensation to nonemployee directors of HEI, Hawaiian Electric and ASB. As of September 30, 2024, there were 168,177 shares remaining available for future issuance under the 2011 Director Plan. Share-based compensation expense and the related income tax benefit were as follows: Three months ended September 30 Nine months ended September 30 (in millions) 2024 2023 2024 2023 HEI consolidated Share-based compensation expense 1 $ 0.1 $ 2.4 $ 3.2 $ 8.3 Income tax benefit — 0.5 0.3 1.6 Hawaiian Electric consolidated Share-based compensation expense (benefit) 1 (0.1) 0.7 1.1 2.5 Income tax benefit (expense) (0.1) 0.1 0.1 0.5 1 For the three and nine months ended September 30, 2024 and 2023, the Company has not capitalized any share-based compensation. Stock awards. HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows: Three months ended September 30 Nine months ended September 30 (dollars in millions) 2024 2023 2024 2023 Shares granted — — — 40,450 Fair value $ — $ — $ — $ 1.5 Income tax benefit — — — 0.4 The number of shares issued to each nonemployee director of HEI, Hawaiian Electric and ASB is determined based on the closing price of HEI common stock on the grant date. Restricted stock units. Information about HEI’s grants of restricted stock units was as follows: Three months ended September 30 Nine months ended September 30 2024 2023 2024 2023 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 89,869 $ 42.08 199,130 $ 41.22 189,024 $ 41.23 182,528 $ 39.75 Granted — — — — — — 100,088 42.41 Vested — — — — (98,084) 40.43 (81,112) 39.37 Forfeited — — — — (1,071) 41.97 (2,374) 41.79 Outstanding, end of period 89,869 $ 42.08 199,130 $ 41.22 89,869 $ 42.08 199,130 $ 41.22 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ — $ 4.2 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For the nine months ended September 30, 2024 and 2023, total restricted stock units and related dividends that vested had a fair value of $1.4 million and $3.7 million, respectively, and the related tax benefits were $0.3 million and $0.8 million, respectively. As of September 30, 2024, there was $2.2 million of total unrecognized compensation cost related to the nonvested restricted stock units. The cost is expected to be recognized over a weighted-average period of 1.2 years. Long-term incentive plan payable in stock. The 2022-24, 2023-25 and 2024-26 long-term incentive plans (LTIP) provide for performance awards under the EIP of shares of HEI common stock based on the satisfaction of performance goals, including a market condition goal. The number of shares of HEI common stock that may be awarded is fixed on the date the grants are made, subject to the achievement of specified performance levels and calculated dividend equivalents. The potential payout varies from 0% to 200% of the number of target shares, depending on the achievement of the goals. The market condition goal is based on HEI’s total shareholder return (TSR) compared to the Peer Group (Edison Electric Institute Index (EEI Index) for the 2022-24 performance period, and compared to the Company's compensation peer group consisting of companies in the EEI Index and approved by the Company's Compensation and Human Capital Management Committee for the 2023-25 and 2024-26 performance periods), in each case over the relevant three-year period. The other performance condition goals relate to EPS growth, cumulative EPS, return on average common equity (ROACE), carbon emissions reduction, Hawaiian Electric’s net income growth, credit rating and public safety, ASB’s efficiency ratio and strategic initiatives and Pacific Current’s EBITDA growth and return on average invested capital. LTIP linked to TSR . Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended September 30 Nine months ended September 30 2024 2023 2024 2023 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 109,262 $ 33.75 79,284 $ 50.28 76,477 $ 50.11 71,574 $ 47.67 Granted — — — — 62,152 17.28 27,123 55.98 Vested (issued or unissued and cancelled) — — — — (28,577) 41.12 (18,691) 48.62 Forfeited — — — — (790) 55.64 (722) 48.92 Outstanding, end of period 109,262 $ 33.75 79,284 $ 50.28 109,262 $ 33.75 79,284 $ 50.28 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ 1.1 $ 1.5 (1) Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model. The grant date fair values of the shares were determined using a Monte Carlo simulation model utilizing actual information for the common shares of HEI and the Peer Group for the period from the beginning of the performance period to the grant date and estimated future stock volatility of HEI and the Peer Group over the remaining three-year performance period. The expected stock volatility assumptions for HEI and the Peer Group were based on the three-year historic stock volatility. A dividend assumption is not required for the Monte Carlo simulation because the grant payout includes dividend equivalents and projected returns include the value of reinvested dividends. The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted: 2024 2023 Risk-free interest rate 4.25 % 4.19 % Expected life in years 3 3 Expected volatility 52.5 % 33.1 % Range of expected volatility for Peer Group 12.3% to 52.5% 28.7% to 38.8% Grant-date fair value (per share) $17.28 $55.98 There were no share-based LTIP awards linked to TSR with a vesting date in 2024 and 2023. As of September 30, 2024, there was $1.5 million of total unrecognized compensation cost related to the nonvested performance awards payable in shares linked to TSR. The cost is expected to be recognized over a weighted-average period of 1.6 years. LTIP awards linked to other performance conditions . Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows: Three months ended September 30 Nine months ended September 30 2024 2023 2024 2023 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 561,812 $ 23.25 357,477 $ 38.78 327,085 $ 39.44 309,589 $ 39.50 Granted — — — — 362,963 13.09 108,499 42.41 Vested — — — — (113,118) 34.93 (62,778) 48.07 Increase above target (cancelled) (49,603) 41.32 4,277 38.02 (61,556) 41.52 10,278 37.77 Forfeited — — — — (3,165) 42.06 (3,834) 43.53 Outstanding, end of period 512,209 $ 21.50 361,754 $ 39.17 512,209 $ 21.50 361,754 $ 39.17 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ — $ — $ 4.8 $ 4.6 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For the nine months ended September 30, 2024 and 2023, total vested LTIP awards linked to other performance conditions and related dividends had a fair value of $1.7 million and $2.9 million, respectively, and the related tax benefits were $0.4 million and $0.6 million, respectively. As of September 30, 2024, there was $5.3 million of total unrecognized compensation cost related to the nonvested shares linked to performance conditions other than TSR. The cost is expected to be recognized over a weighted-average period of 1.8 years.

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company’s and the Utilities’ effective tax rates (combined federal and state income tax rates) for the nine months ended September 30, 2024 were 26% tax benefit. These rates differed from the combined statutory rates, primarily due to the substantial pretax loss, Utilities’ amortization of excess deferred income taxes related to the provision in the 2017 Tax Cuts and Jobs Act that lowered the federal income tax rate from 35% to 21%, the tax benefits derived from the low income housing tax credit investments and the non-taxability of the bank-owned life insurance income. In August 2020, the Internal Revenue Service notified the Company that its 2017 and 2018 income tax returns would be examined. The Company was previously audited every year through 2011, at which time the IRS changed their internal policies regarding audit frequency. In May 2024, the IRS proposed a disallowance of $8.5 million from the $12.9 million of additional R&D tax credits claimed for the 2016 to 2018 tax years. The Company accepted the proposed adjustment in September 2024 which resulted in an additional $1 million of 2016-2018 R&D tax credits and release of the related previously recorded uncertain tax position reserve. Total additional tax benefit recognized in September 2024 was $1.6 million. 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, the Company does not believe HEI will be impacted by the CAMT or stock repurchase excise tax provisions. The IRA also creates new tax credits and enhances others to stimulate investment in renewable energy sources. Certain provisions of the IRA became effective in tax year 2023. The Company is exploring clean energy tax incentives included in the IRA.

Cash flows

Cash flows	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Cash flows	Cash flows Nine months ended September 30 2024 2023 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 175 $ 104 Income taxes paid (including refundable credits) 34 28 Income taxes refunded (including refundable credits) — 1 Hawaiian Electric consolidated Interest paid to non-affiliates 59 45 Income taxes paid (including refundable credits) 53 38 Income taxes refunded (including refundable credits) — 2 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 9 9 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 33 45 Right-of-use assets obtained in exchange for finance lease obligations (financing) 108 76 Right-of-use assets obtained in exchange for operating lease obligations (investing) 4 1 Common stock issued (gross) for director and executive/management compensation (financing) 1 3 8 Obligations to fund low income housing investments (investing) — 7 Loans transferred from held for investment to held for sale (investing) 29 95 Transfer of retail repurchase agreements to deposit liabilities (financing) — 98 Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 9 9 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 33 43 Right-of-use assets obtained in exchange for finance lease obligations (financing) 107 76 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements

Fair value measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements Fair value measurement and disclosure valuation methodology. The following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value: 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 certificates . 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, repurchase agreements and other bank borrowings, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for advances, repurchase agreements and other bank borrowings of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of fixed-rate long-term debt—other than bank was obtained from third-party financial services providers based on the current rates offered for debt of the same or similar remaining maturities and from discounting the future cash flows using the current rates offered for debt of the same or similar risks, terms, and remaining maturities. The carrying amount of floating rate long-term debt—other than bank approximated fair value because of the short-term interest reset periods. Long-term debt—other than bank is classified in Level 2 of the valuation hierarchy. Interest rate lock commitments (IRLCs) . The estimated fair value of commitments to originate residential mortgage loans for sale is based on quoted prices for similar loans in active markets. IRLCs are classified as Level 2 measurements. Forward sales commitments . To be announced (TBA) mortgage-backed securities forward commitments are classified as Level 1, and consist of publicly-traded debt securities for which identical fair values can be obtained through quoted market prices in active exchange markets. The fair values of ASB’s best efforts and mandatory delivery loan sale commitments are determined using quoted prices in the marketplace that are observable and are classified as Level 2 measurements. Interest rate swaps . The Company measures its interest rate swaps at fair value. The fair values of the Company's interest rate swaps are based on the estimated amounts that the Company would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The fair values of the Company's interest rate swaps are classified as a Level 2 measurements. The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total September 30, 2024 Financial assets HEI consolidated Available-for-sale investment securities $ 1,084,083 $ — $ 1,070,148 $ 13,935 $ 1,084,083 Held-to-maturity investment securities 1,159,229 — 1,086,205 — 1,086,205 Stock in Federal Home Loan Bank 29,204 — 29,204 — 29,204 Loans, net 5,975,318 — 2,698 5,669,632 5,672,330 Mortgage servicing rights 7,722 — — 17,046 17,046 Derivative assets 16,991 10 792 — 802 Financial liabilities HEI consolidated Deposit liabilities - time certificates 1,064,978 — 1,058,464 — 1,058,464 Other bank borrowings 520,000 — 520,677 — 520,677 Long-term debt, net—other than bank 2,836,539 — 2,289,207 — 2,289,207 Derivative liabilities 21,867 — 116 — 116 Hawaiian Electric consolidated Long-term debt, net 1,934,980 — 1,519,620 — 1,519,620 December 31, 2023 Financial assets HEI consolidated Available-for-sale investment securities $ 1,136,439 $ — $ 1,122,081 $ 14,358 $ 1,136,439 Held-to-maturity investment securities 1,201,314 — 1,103,668 — 1,103,668 Stock in Federal Home Loan Bank 14,728 — 14,728 — 14,728 Loans, net 6,121,606 — 15,176 5,723,823 5,738,999 Mortgage servicing rights 8,169 — — 18,722 18,722 Derivative assets 16,880 — 1,058 — 1,058 Financial liabilities HEI consolidated Deposit liabilities - time certificates 1,063,907 — 1,053,101 — 1,053,101 Other bank borrowings 750,000 — 747,508 — 747,508 Long-term debt, net—other than bank 2,842,429 — 2,133,225 — 2,133,225 Derivative liabilities 28,449 18 303 — 321 Hawaiian Electric consolidated Long-term debt, net 1,934,277 — 1,385,025 — 1,385,025 Fair value measurements on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were as follows: September 30, 2024 December 31, 2023 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 $ — $ 1,028,627 $ — $ — $ 1,077,168 $ — U.S. Treasury and federal agency obligations — 7,597 — — 12,010 — Corporate bonds — 33,924 — — 32,903 — Mortgage revenue bonds — — 13,935 — — 14,358 $ — $ 1,070,148 $ 13,935 $ — $ 1,122,081 $ 14,358 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 68 $ — $ — $ 86 $ — Forward commitments (bank segment) 1 10 — — — — — Interest rate swap (Other segment) 2 — 724 — — 972 — $ 10 $ 792 $ — $ — $ 1,058 $ — Derivative liabilities Forward commitments (bank segment) 1 $ — $ — $ — $ 18 $ — $ — Interest rate swap (Other segment) 2 — 116 — — 303 — $ — $ 116 $ — $ 18 $ 303 $ — 1 Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income. 2 Derivatives are included in other assets and other liabilities in the balance sheets. There were no transfers of financial assets and liabilities between Level 1 and Level 2 of the fair value hierarchy during the nine months ended September 30, 2024 and 2023. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended September 30 Nine months ended September 30 Mortgage revenue bonds 2024 2023 2024 2023 (in thousands) Beginning balance $ 14,076 $ 14,630 $ 14,358 $ 14,902 Principal payments received (141) (136) (423) (408) Purchases — — — — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 13,935 $ 14,494 $ 13,935 $ 14,494 Mortgage revenue bonds are issued by the Department of Budget and Finance of the State of Hawaii. The Company estimates the fair value by using a discounted cash flow model to calculate the present value of estimated future principal and interest payments. The unobservable input used in the fair value measurement is the weighted average discount rate. As of September 30, 2024, the weighted average discount rate was 5.49%, which was derived by incorporating a credit spread over the one month SOFR. Significant increases (decreases) in the weighted average discount rate could result in a significantly lower (higher) fair value measurement. Fair value measurements on a nonrecurring basis. Certain assets and liabilities are measured at fair value on a nonrecurring basis and therefore are not included in the tables above. These measurements primarily result from assets carried at the lower of cost or fair value or from impairment of individual assets. As of September 30, 2024 and December 31, 2023, there were no financial instruments measured at fair value on a nonrecurring basis.

Basis of presentation (Policies

Basis of presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern and in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, the instructions to SEC Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In preparing the unaudited condensed consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenues and expenses for the period. Actual results could differ significantly from those estimates.
Recent accounting pronouncements	Recent accounting pronouncements. Segment Reporting . In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosure requirements of significant segment expenses. These amendments are effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. These amendments apply on a retrospective basis. The Company is currently evaluating the impact of this amendment on the Company’s consolidated financial statements. Income Taxes. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures to enhance the transparency and decision usefulness of income tax disclosures. The amendments are effective for annual periods beginning after December 15, 2024. These amendments apply on a prospective basis with a retrospective option. Early adoption is permitted. The Company is currently evaluating the impact of this amendment on the Company’s consolidated financial statements and does not expect the adoption to have a material impact on its consolidated financial statements. Climate-related disclosures . In March 2024, the Securities and Exchange Commission (SEC) issued final climate-related disclosure rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors (climate disclosure rules). The rules will require annual disclosure of material greenhouse gas emissions as well as disclosure of governance, risk management and strategy related to material climate-related risks. In addition, the rules require (i) financial statement impacts of severe weather events and other natural conditions; (ii) a roll forward of carbon offset and renewable energy credit balances if material to the Company’s plan to achieve climate-related targets or goals; and (iii) material impacts on estimates and assumptions in the financial statements. The disclosure requirements will begin phasing in for annual periods beginning with calendar year 2025. The Company is currently evaluating the final rule to determine its impact on the Company’s consolidated financial statements. In April 2024, the SEC voluntarily stayed implementation of its climate disclosure rules pending completion of judicial review by the Court of Appeals for the Eighth Circuit.
Reclassifications	Reclassifications. Within the condensed consolidated balance sheet for the prior period, wildfire tort-related claims amounts were reclassified from “Other liabilities” and “Other current liabilities” for the Company and the Utilities, respectively, to conform to the current year financial statement presentation. Also, consolidated statements of cash flows of prior year wildfire tort-related claims amounts were reclassified from “Change in other assets and liabilities” to “Increase in wildfire tort-related claims” for the Company and the Utilities, to conform to the current year financial statement presentation. Reclassifications did not affect previously reported net income, retained earnings or net cash provided by operating activities.
Fair value measurements	The following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value: 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 certificates . 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, repurchase agreements and other bank borrowings, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for advances, repurchase agreements and other bank borrowings of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of fixed-rate long-term debt—other than bank was obtained from third-party financial services providers based on the current rates offered for debt of the same or similar remaining maturities and from discounting the future cash flows using the current rates offered for debt of the same or similar risks, terms, and remaining maturities. The carrying amount of floating rate long-term debt—other than bank approximated fair value because of the short-term interest reset periods. Long-term debt—other than bank is classified in Level 2 of the valuation hierarchy. Interest rate lock commitments (IRLCs) . The estimated fair value of commitments to originate residential mortgage loans for sale is based on quoted prices for similar loans in active markets. IRLCs are classified as Level 2 measurements. Forward sales commitments . To be announced (TBA) mortgage-backed securities forward commitments are classified as Level 1, and consist of publicly-traded debt securities for which identical fair values can be obtained through quoted market prices in active exchange markets. The fair values of ASB’s best efforts and mandatory delivery loan sale commitments are determined using quoted prices in the marketplace that are observable and are classified as Level 2 measurements. Interest rate swaps . The Company measures its interest rate swaps at fair value. The fair values of the Company's interest rate swaps are based on the estimated amounts that the Company would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The fair values of the Company's interest rate swaps are classified as a Level 2 measurements.

Maui windstorm and wildfires (T

Maui windstorm and wildfires (Tables)	9 Months Ended
	Sep. 30, 2024
Unusual or Infrequent Items, or Both [Abstract]
Schedule of Windstorm and Wildfire Expenses	See table below for the incremental expenses related to the Maui windstorm and wildfires. Three months ended September 30, 2024 Nine months ended September 30, 2024 (in thousands) Electric utility HEI Consolidated Electric utility HEI Consolidated Maui windstorm and wildfires related expenses: Legal expenses $ 11,821 $ 17,963 $ 40,169 $ 57,990 Wildfire tort-related claims 203,000 203,000 1,915,000 1,915,000 Other expense 13,429 15,433 36,523 41,819 Total Maui windstorm and wildfires related expenses 228,250 236,396 1,991,692 2,014,809 Insurance recoveries (49,625) (52,158) (75,973) (83,610) Deferral treatment approved by the PUC 1 (8,589) (8,589) (24,143) (24,143) Total Maui windstorm and wildfires related expenses, net of insurance recoveries and approved deferral treatment $ 170,036 $ 175,649 $ 1,891,576 $ 1,907,056 Three and nine months ended September 30, 2023 Year ended December 31, 2023 (in thousands) Electric utility HEI Consolidated Electric utility HEI Consolidated Maui windstorm and wildfires related expenses: Legal expenses $ 6,251 $ 10,751 $ 24,737 $ 34,876 Wildfire tort-related claims 75,000 75,000 75,000 75,000 Other expense 7,691 16,831 15,071 28,507 Total Maui windstorm and wildfires related expenses 88,942 102,582 114,808 138,383 Insurance recoveries (75,000) (75,000) (98,613) (104,580) Deferral treatment approved by the PUC 1 — — (14,692) (14,692) Total Maui windstorm and wildfires related expenses, net of insurance recoveries and approved deferral treatment $ 13,942 $ 27,582 $ 1,503 $ 19,111 1

Segment financial information (

Segment financial information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Financial Information	(in thousands) Electric utility Bank Other Total Three months ended September 30, 2024 Revenues $ 829,617 $ 105,144 $ 3,622 $ 938,383 Income (loss) before income taxes $ (117,526) $ 23,429 $ (55,137) $ (149,234) Income taxes (benefit) (35,439) 4,651 (14,515) (45,303) Net income (loss) (82,087) 18,778 (40,622) (103,931) Preferred stock dividends of subsidiaries 498 — (27) 471 Net income (loss) for common stock $ (82,585) $ 18,778 $ (40,595) $ (104,402) Nine months ended September 30, 2024 Revenues $ 2,410,526 $ 312,231 $ 10,144 $ 2,732,901 Income (loss) before income taxes $ (1,725,279) $ (7,864) $ (104,102) $ (1,837,245) Income taxes (benefit) (454,017) (1,789) (25,092) (480,898) Net income (loss) (1,271,262) (6,075) (79,010) (1,356,347) Preferred stock dividends of subsidiaries 1,496 — (79) 1,417 Net income (loss) for common stock $ (1,272,758) $ (6,075) $ (78,931) $ (1,357,764) Total assets (at September 30, 2024) $ 7,563,204 $ 9,267,846 $ 900,178 $ 17,731,228 Three months ended September 30, 2023 Revenues $ 794,987 $ 100,974 $ 5,912 $ 901,873 Income (loss) before income taxes $ 55,415 $ 12,749 $ (19,054) $ 49,110 Income taxes (benefit) 11,456 1,384 (5,319) 7,521 Net income (loss) 43,959 11,365 (13,735) 41,589 Preferred stock dividends of subsidiaries 498 — (27) 471 Net income (loss) for common stock $ 43,461 $ 11,365 $ (13,708) $ 41,118 Nine months ended September 30, 2023 Revenues $ 2,419,539 $ 291,716 $ 14,540 $ 2,725,795 Income (loss) before income taxes $ 175,391 $ 61,511 $ (48,121) $ 188,781 Income taxes (benefit) 38,126 11,380 (12,591) 36,915 Net income (loss) 137,265 50,131 (35,530) 151,866 Preferred stock dividends of subsidiaries 1,496 — (79) 1,417 Net income (loss) for common stock $ 135,769 $ 50,131 $ (35,451) $ 150,449 Total assets (at December 31, 2023) $ 7,283,554 $ 9,673,192 $ 287,075 $ 17,243,821

Electric utility segment (Table

Electric utility segment (Tables)	9 Months Ended
	Sep. 30, 2024
Electric Utility Subsidiary [Abstract]
Schedule of Purchases From All IPPs	Purchases from all IPPs were as follows: Three months ended September 30 Nine months ended September 30 (in millions) 2024 2023 2024 2023 Kalaeloa $ 74 $ 77 $ 219 $ 211 HPOWER 20 17 53 51 Puna Geothermal Venture 15 7 42 24 Hamakua Energy 9 13 25 52 Kapolei Energy Storage 6 — 18 — Wind IPPs 37 42 104 99 Solar IPPs 26 21 62 57 Other IPPs 1 2 1 7 5 Total IPPs $ 189 $ 178 $ 530 $ 499 1 Includes hydro power and other PPAs.
Schedule of Net Annual Incremental Amounts Proposed to be Collected (Refunded)	The filing reflected ARA revenues for 2025 to be collected from January 1 through December 31, 2025, as follows: (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total 2025 ARA revenues $ 15.4 $ 3.8 $ 3.7 $ 22.9 Management Audit savings commitment (4.6) (1.0) (1.0) (6.6) Net 2025 ARA revenues $ 10.8 $ 2.8 $ 2.7 $ 16.3 The proposed net incremental amounts between the 2024 spring and 2024 fall revenue reports are shown in the following table. The amounts are to be collected (refunded) from January 1, 2025 through December 31, 2025 under the RBA rate tariffs, which were proposed in the 2024 fall revenue report filing and subject to PUC approval. (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total 2025 ARA revenues $ 15.4 $ 3.8 $ 3.7 $ 22.9 Annual change in accrued RBA balance through September 30, 2024 (and associated revenue taxes) (7.0) (1.3) 6.4 (1.9) Incremental PIMs (net) (0.1) 0.1 — — Net incremental amount to be collected under the RBA rate tariffs $ 8.3 $ 2.6 $ 10.1 $ 21.0
Schedule of Condensed Consolidating Statements of Income	(in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 592,784 123,238 113,840 2,402 (2,647) $ 829,617 Expenses Fuel oil 207,498 31,464 40,076 — — 279,038 Purchased power 135,645 35,291 18,229 — — 189,165 Other operation and maintenance 105,977 25,614 32,769 484 (2,647) 162,197 Wildfire tort-related claims (Note 2) 130,400 16,300 16,300 — — 163,000 Depreciation 42,004 10,964 9,844 — — 62,812 Taxes, other than income taxes 55,787 11,511 10,671 — — 77,969 Total expenses 677,311 131,144 127,889 484 (2,647) 934,181 Operating income (loss) (84,527) (7,906) (14,049) 1,918 — (104,564) Allowance for equity funds used during construction 2,628 256 416 — — 3,300 Equity in earnings of subsidiaries (18,558) — — — 18,558 — Retirement defined benefits credit (expense)—other than service costs 826 162 (29) — — 959 Interest expense and other charges, net (14,870) (2,760) (4,324) — 1,731 (20,223) Allowance for borrowed funds used during construction 1,055 75 201 — — 1,331 Interest Income 2,971 324 107 — (1,731) 1,671 Income (loss) before income taxes (110,475) (9,849) (17,678) 1,918 18,558 (117,526) Income tax expense (benefit) (28,160) (2,807) (4,966) 494 — (35,439) Net income (loss) (82,315) (7,042) (12,712) 1,424 18,558 (82,087) Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income (loss) attributable to Hawaiian Electric (82,315) (7,175) (12,807) 1,424 18,558 (82,315) Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income (loss) for common stock $ (82,585) (7,175) (12,807) 1,424 18,558 $ (82,585) (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 570,323 116,192 108,472 — — $ 794,987 Expenses Fuel oil 196,223 30,956 40,259 — — 267,438 Purchased power 132,536 30,265 14,994 — — 177,795 Other operation and maintenance 83,528 21,351 37,629 — — 142,508 Depreciation 41,276 10,635 9,254 — — 61,165 Taxes, other than income taxes 53,511 10,857 10,355 — — 74,723 Total expenses 507,074 104,064 112,491 — — 723,629 Operating income (loss) 63,249 12,128 (4,019) — — 71,358 Allowance for equity funds used during construction 3,005 366 629 — — 4,000 Equity in earnings of subsidiaries 3,005 — — — (3,005) — Retirement defined benefits credit (expense)—other than service costs 992 163 (23) — — 1,132 Interest expense and other charges, net (16,295) (2,988) (3,164) — — (22,447) Allowance for borrowed funds used during construction 1,047 117 208 — — 1,372 Income (loss) before income taxes 55,003 9,786 (6,369) — (3,005) 55,415 Income tax expense (benefit) 11,272 2,234 (2,050) — — 11,456 Net income (loss) 43,731 7,552 (4,319) — (3,005) 43,959 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income (loss) attributable to Hawaiian Electric 43,731 7,419 (4,414) — (3,005) 43,731 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income (loss) for common stock $ 43,461 7,419 (4,414) — (3,005) $ 43,461 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 1,721,592 358,510 330,669 2,402 (2,647) $ 2,410,526 Expenses Fuel oil 605,083 91,590 125,313 — — 821,986 Purchased power 390,302 98,415 41,593 — — 530,310 Other operation and maintenance 290,578 74,748 90,485 484 (2,647) 453,648 Wildfire tort-related claims (Note 2) 1,500,000 187,500 187,500 — — 1,875,000 Depreciation 126,011 32,892 29,533 — — 188,436 Taxes, other than income taxes 162,410 33,411 30,974 — — 226,795 Total expenses 3,074,384 518,556 505,398 484 (2,647) 4,096,175 Operating income (loss) (1,352,792) (160,046) (174,729) 1,918 — (1,685,649) Allowance for equity funds used during construction 8,027 893 1,356 — — 10,276 Equity in earnings of subsidiaries (258,633) — — — 258,633 — Retirement defined benefits credit (expense)—other than service costs 2,681 498 (76) — — 3,103 Interest expense and other charges, net (44,879) (8,648) (13,114) — 5,016 (61,625) Allowance for borrowed funds used during construction 3,168 267 626 — — 4,061 Interest Income 8,606 720 245 — (5,016) 4,555 Income (loss) before income taxes (1,633,822) (166,316) (185,692) 1,918 258,633 (1,725,279) Income tax expense (benefit) (361,874) (43,636) (49,001) 494 — (454,017) Net income (loss) (1,271,948) (122,680) (136,691) 1,424 258,633 (1,271,262) Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income (loss) attributable to Hawaiian Electric (1,271,948) (123,080) (136,977) 1,424 258,633 (1,271,948) Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income (loss) for common stock $ (1,272,758) (123,080) (136,977) 1,424 258,633 $ (1,272,758) (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Revenues $ 1,742,542 343,554 333,573 — (130) $ 2,419,539 Expenses Fuel oil 663,521 79,187 138,984 — — 881,692 Purchased power 362,275 101,597 35,118 — — 498,990 Other operation and maintenance 255,728 64,367 87,089 — — 407,184 Depreciation 123,114 31,906 27,761 — — 182,781 Taxes, other than income taxes 164,510 31,983 31,541 — — 228,034 Total expenses 1,569,148 309,040 320,493 — — 2,198,681 Operating income 173,394 34,514 13,080 — (130) 220,858 Allowance for equity funds used during construction 8,604 1,004 1,465 — — 11,073 Equity in earnings of subsidiaries 25,960 — — — (25,960) — Retirement defined benefits credit (expense)—other than service costs 2,801 500 (74) — — 3,227 Interest expense and other charges, net (45,594) (8,794) (9,307) — 130 (63,565) Allowance for borrowed funds used during construction 2,995 321 482 — — 3,798 Income before income taxes 168,160 27,545 5,646 — (25,960) 175,391 Income taxes 31,581 6,261 284 — — 38,126 Net income 136,579 21,284 5,362 — (25,960) 137,265 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 136,579 20,884 5,076 — (25,960) 136,579 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 135,769 20,884 5,076 — (25,960) $ 135,769 Statements of Income and Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 Interest and dividend income Interest and fees on loans $ 73,654 $ 71,540 $ 219,585 $ 204,348 Interest and dividends on investment securities 14,001 14,096 42,183 42,508 Total interest and dividend income 87,655 85,636 261,768 246,856 Interest expense Interest on deposit liabilities 19,018 14,446 54,465 30,944 Interest on other borrowings 6,403 8,598 21,036 25,171 Total interest expense 25,421 23,044 75,501 56,115 Net interest income 62,234 62,592 186,267 190,741 Provision for credit losses 248 8,835 (3,821) 10,053 Net interest income after provision for credit losses 61,986 53,757 190,088 180,688 Noninterest income Fees from other financial services 5,188 4,703 15,195 14,391 Fee income on deposit liabilities 5,156 4,924 14,684 14,027 Fee income on other financial products 3,131 2,440 8,834 7,952 Bank-owned life insurance 2,993 2,303 8,832 5,683 Mortgage banking income 363 341 1,151 701 Gain on sale of real estate — — — 495 Other income, net 658 627 1,767 2,106 Total noninterest income 17,489 15,338 50,463 45,355 Noninterest expense Compensation and employee benefits 31,485 29,902 93,746 89,500 Occupancy 5,630 5,154 15,913 16,281 Data processing 4,974 5,133 14,780 15,240 Services 3,816 3,627 12,217 8,911 Equipment 2,436 3,125 7,562 8,728 Office supplies, printing and postage 1,014 1,022 3,038 3,296 Marketing 885 984 2,408 2,834 Goodwill impairment — — 82,190 — Other expense 5,806 7,399 16,561 19,742 Total noninterest expense 56,046 56,346 248,415 164,532 Income (loss) before income taxes 23,429 12,749 (7,864) 61,511 Income tax (benefit) 4,651 1,384 (1,789) 11,380 Net income (loss) 18,778 11,365 (6,075) 50,131 Other comprehensive income (loss), net of taxes 40,204 (34,231) 32,069 (23,011) Comprehensive income (loss) $ 58,982 $ (22,866) $ 25,994 $ 27,120 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 Interest and dividend income $ 87,655 $ 85,636 $ 261,768 $ 246,856 Noninterest income 17,489 15,338 50,463 45,355 Less: Gain on sale of real estate — — — 495 *Revenues-Bank 105,144 100,974 312,231 291,716 Total interest expense 25,421 23,044 75,501 56,115 Provision for credit losses 248 8,835 (3,821) 10,053 Noninterest expense 56,046 56,346 248,415 164,532 Less: Gain on sale of real estate — — — 495 Less: Retirement defined benefits credit—other than service costs (257) (190) (818) (564) *Expenses-Bank 81,972 88,415 320,913 230,769 *Operating income (loss)-Bank 23,172 12,559 (8,682) 60,947 Add back: Retirement defined benefits credit—other than service costs (257) (190) (818) (564) Income (loss) before income taxes $ 23,429 $ 12,749 $ (7,864) $ 61,511
Schedule of Condensed Consolidating Statement of Comprehensive Income	(in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income (loss) for common stock $ (82,585) (7,175) (12,807) 1,424 18,558 $ (82,585) Other comprehensive income (loss), net of taxes: Retirement benefit plans: Adjustment for amortization of net gains recognized during the period in net periodic benefit cost, net of taxes (1,331) (40) (71) — 111 (1,331) Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes 1,333 42 64 — (106) 1,333 Other comprehensive income (loss), net of taxes 2 2 (7) — 5 2 Comprehensive income (loss) attributable to common shareholder $ (82,583) (7,173) (12,814) 1,424 18,563 $ (82,583) (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income (loss) for common stock $ 43,461 7,419 (4,414) — (3,005) $ 43,461 Other comprehensive loss, net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes (547) (55) (71) — 126 (547) Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes 470 54 63 — (117) 470 Other comprehensive loss, net of taxes (77) (1) (8) — 9 (77) Comprehensive income (loss) attributable to common shareholder $ 43,384 7,418 (4,422) — (2,996) $ 43,384 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Net income (loss) for common stock $ (1,272,758) (123,080) (136,977) 1,424 258,633 $ (1,272,758) Other comprehensive loss, net of taxes: Retirement benefit plans: Adjustment for amortization of net gains recognized during the period in net periodic benefit cost, net of taxes (2,344) (117) (187) — 304 (2,344) Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes 2,251 112 163 — (275) 2,251 Other comprehensive loss, net of taxes (93) (5) (24) — 29 (93) Comprehensive income (loss) attributable to common shareholder $ (1,272,851) (123,085) (137,001) 1,424 258,662 $ (1,272,851) (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Consolidated Net income for common stock $ 135,769 20,884 5,076 — (25,960) $ 135,769 Other comprehensive loss, net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes (1,487) (166) (200) — 366 (1,487) Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes 1,321 157 177 — (334) 1,321 Other comprehensive loss, net of taxes (166) (9) (23) — 32 (166) Comprehensive income attributable to common shareholder $ 135,603 20,875 5,053 — (25,928) $ 135,603
Schedule of Condensed Consolidating Balance Sheet	(in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsi- diaries Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,860 5,645 3,514 — — $ 52,019 Plant and equipment 5,503,512 1,494,982 1,414,657 — — 8,413,151 Right-of-use assets - finance lease 362,741 36,074 50,757 — — 449,572 Less accumulated depreciation (2,028,302) (685,469) (609,419) — — (3,323,190) Construction in progress 276,525 27,878 42,270 — — 346,673 Utility property, plant and equipment, net 4,157,336 879,110 901,779 — — 5,938,225 Nonutility property, plant and equipment, less accumulated depreciation 5,292 115 1,532 — — 6,939 Total property, plant and equipment, net 4,162,628 879,225 903,311 — — 5,945,164 Investment in wholly owned subsidiaries, at equity 669,450 — — — (669,450) — Current assets Cash and cash equivalents 99,392 25,734 11,833 10,665 — 147,624 Restricted cash 2,000 — — — — 2,000 Advances to affiliates 46,200 — — — (46,200) — Customer accounts receivable, net 32,405 7,594 9,774 158,180 — 207,953 Accrued unbilled revenues, net 23,595 5,568 3,560 166,934 — 199,657 Other accounts receivable, net 193,771 61,265 54,397 — (223,945) 85,488 Fuel oil stock, at average cost 79,736 10,657 18,650 — — 109,043 Materials and supplies, at average cost 66,289 14,736 33,029 — — 114,054 Prepayments and other 70,526 7,456 18,559 — (1,718) 94,823 Regulatory assets 46,579 4,761 8,496 — — 59,836 Total current assets 660,493 137,771 158,298 335,779 (271,863) 1,020,478 Other long-term assets Operating lease right-of-use assets 31,134 22,422 7,451 — — 61,007 Regulatory assets 207,572 16,091 30,748 — — 254,411 Other 250,162 37,716 34,850 — (40,584) 282,144 Total other long-term assets 488,868 76,229 73,049 — (40,584) 597,562 Total assets $ 5,981,439 1,093,225 1,134,658 335,779 (981,897) $ 7,563,204 (continued) Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Balance Sheet (continued) September 30, 2024 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsi- diaries Consoli- Hawaiian Electric Capitalization and liabilities Capitalization Common stock equity $ 1,110,259 237,105 280,629 151,716 (669,450) $ 1,110,259 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,387,029 244,437 256,537 — — 1,888,003 Total capitalization 2,519,581 488,542 542,166 151,716 (669,450) 3,032,555 Current liabilities Current portion of operating lease liabilities 5,183 7,302 2,926 — — 15,411 Current portion of long-term debt 39,980 4,998 1,999 — — 46,977 Short-term borrowings from affiliate — — 46,200 — (46,200) — Accounts payable 141,147 24,484 36,796 — — 202,427 Interest and preferred dividends payable 22,194 3,652 4,508 — (537) 29,817 Taxes accrued, including revenue taxes 187,756 40,137 34,984 494 (1,718) 261,653 Regulatory liabilities 10,887 9,782 5,015 — — 25,684 Wildfire tort-related claims (Note 2) 383,000 47,875 47,875 — — 478,750 Other 91,572 28,782 33,180 183,569 (223,408) 113,695 Total current liabilities 881,719 167,012 213,483 184,063 (271,863) 1,174,414 Deferred credits and other liabilities Operating lease liabilities 30,785 15,480 4,831 — — 51,096 Finance lease liabilities 346,344 34,543 50,036 — — 430,923 Deferred income taxes — 3,024 22,534 — (25,558) — Regulatory liabilities 839,392 208,022 118,001 — — 1,165,415 Unamortized tax credits 56,219 10,887 11,100 — — 78,206 Defined benefit pension and other postretirement benefit plans liability 75,907 — — — (15,026) 60,881 Wildfire tort-related claims (Note 2) 1,149,000 143,625 143,625 — — 1,436,250 Other 82,492 22,090 28,882 — — 133,464 Total deferred credits and other liabilities 2,580,139 437,671 379,009 — (40,584) 3,356,235 Total capitalization and liabilities $ 5,981,439 1,093,225 1,134,658 335,779 (981,897) $ 7,563,204 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,859 5,645 3,594 — — $ 52,098 Plant and equipment 5,398,281 1,459,639 1,374,890 — — 8,232,810 Finance lease right-of-use assets 306,099 36,075 — — — 342,174 Less accumulated depreciation (1,925,660) (666,581) (605,273) — — (3,197,514) Construction in progress 247,836 33,488 38,899 — — 320,223 Utility property, plant and equipment, net 4,069,415 868,266 812,110 — — 5,749,791 Nonutility property, plant and equipment, less accumulated depreciation 5,295 115 1,532 — — 6,942 Total property, plant and equipment, net 4,074,710 868,381 813,642 — — 5,756,733 Investment in wholly owned subsidiaries, at equity 722,211 — — — (722,211) — Current assets Cash and cash equivalents 89,755 10,658 5,587 77 — 106,077 Restricted cash 2,000 — — — — 2,000 Advances to affiliates 70,500 — — — (70,500) — Customer accounts receivable, net 172,747 38,216 33,346 — — 244,309 Accrued unbilled revenues, net 136,367 25,102 24,175 — — 185,644 Other accounts receivable, net 143,160 13,318 32,521 — (77,480) 111,519 Fuel oil stock, at average cost 108,228 17,968 22,041 — — 148,237 Materials and supplies, at average cost 64,334 14,397 35,702 — — 114,433 Prepayments and other 40,767 7,724 11,638 — (1,638) 58,491 Regulatory assets 58,920 5,771 3,762 — — 68,453 Total current assets 886,778 133,154 168,772 77 (149,618) 1,039,163 Other long-term assets Operating lease right-of-use assets 34,856 27,470 9,551 — — 71,877 Regulatory assets 189,417 13,575 23,359 — — 226,351 Other 134,033 36,439 33,129 — (14,171) 189,430 Total other long-term assets 358,306 77,484 66,039 — (14,171) 487,658 Total assets $ 6,042,005 1,079,019 1,048,453 77 (886,000) $ 7,283,554 (continued) Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Balance Sheet (continued) December 31, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Capitalization and liabilities Capitalization Common stock equity $ 2,409,110 359,790 362,344 77 (722,211) $ 2,409,110 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,426,516 249,339 258,422 — — 1,934,277 Total capitalization 3,857,919 616,129 625,766 77 (722,211) 4,377,680 Current liabilities Current portion of operating lease liabilities 6,788 7,025 2,804 — — 16,617 Short-term borrowings-affiliate — — 70,500 — (70,500) — Accounts payable 136,102 29,418 25,520 — — 191,040 Interest and preferred dividends payable 17,085 3,098 3,074 — (375) 22,882 Taxes accrued, including revenue taxes 211,840 43,932 37,808 — (1,638) 291,942 Regulatory liabilities 20,013 8,508 8,038 — — 36,559 Wildfire tort-related claims 75,000 — — — — 75,000 Other 90,131 33,240 50,170 — (77,105) 96,436 Total current liabilities 556,959 125,221 197,914 — (149,618) 730,476 Deferred credits and other liabilities Operating lease liabilities 34,262 20,792 7,044 — — 62,098 Finance lease liabilities 295,935 35,043 — — — 330,978 Deferred income taxes 280,029 51,661 67,311 — — 399,001 Regulatory liabilities 803,404 199,173 111,554 — — 1,114,131 Unamortized tax credits 61,130 11,650 11,532 — — 84,312 Defined benefit pension and other postretirement benefit plans liability 74,842 — — — (14,171) 60,671 Other 77,525 19,350 27,332 — 124,207 Total deferred credits and other liabilities 1,627,127 337,669 224,773 — (14,171) 2,175,398 Total capitalization and liabilities $ 6,042,005 1,079,019 1,048,453 77 (886,000) $ 7,283,554 Balance Sheets Data (in thousands) September 30, 2024 December 31, 2023 Assets Cash and due from banks $ 155,869 $ 184,383 Interest-bearing deposits 176,784 251,072 Cash and cash equivalents 332,653 435,455 Investment securities Available-for-sale, at fair value 1,084,083 1,136,439 Held-to-maturity, at amortized cost (fair value of $1,086,205 and $1,103,668, at September 30, 2024 and December 31, 2023, respectively) 1,159,229 1,201,314 Stock in Federal Home Loan Bank, at cost 29,204 14,728 Loans held for investment 6,037,410 6,180,810 Allowance for credit losses (64,796) (74,372) Net loans 5,972,614 6,106,438 Loans held for sale, at lower of cost or fair value 2,704 15,168 Other 687,359 681,460 Goodwill — 82,190 Total assets $ 9,267,846 $ 9,673,192 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,486,717 $ 2,599,762 Deposit liabilities—interest-bearing 5,512,493 5,546,016 Other borrowings 520,000 750,000 Other 191,512 247,563 Total liabilities 8,710,722 9,143,341 Common stock 1 1 Additional paid-in capital 359,346 358,067 Retained earnings 457,980 464,055 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (251,703) $ (282,963) Retirement benefit plans (8,500) (260,203) (9,309) (292,272) Total shareholder’s equity 557,124 529,851 Total liabilities and shareholder’s equity $ 9,267,846 $ 9,673,192 Other assets Bank-owned life insurance $ 199,741 $ 187,857 Premises and equipment, net 180,073 187,042 Accrued interest receivable 28,764 28,472 Mortgage-servicing rights 7,722 8,169 Low-income housing investments 100,499 112,234 Deferred tax asset 108,338 104,292 Other 62,222 53,394 Total other assets $ 687,359 $ 681,460 Other liabilities Accrued expenses $ 80,788 $ 115,231 Cashier’s checks 35,625 40,479 Advance payments by borrowers 4,373 10,107 Other 70,726 81,746 Total other liabilities $ 191,512 $ 247,563
Schedule of Condensed Consolidating Statement of Changes in Common Stock Equity	(in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating Hawaiian Electric Balance, December 31, 2023 $ 2,409,110 359,790 362,344 77 (722,211) $ 2,409,110 Net income (loss) for common stock (1,272,758) (123,080) (136,977) 1,424 258,633 (1,272,758) Other comprehensive loss, net of taxes (93) (5) (24) — 29 (93) Common stock dividends (26,000) — — — — (26,000) Additional paid-in capital — 400 286 — (686) — Issuance of common stock, net of expenses — — 55,000 150,215 (205,215) — Balance, September 30, 2024 $ 1,110,259 237,105 280,629 151,716 (669,450) $ 1,110,259 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2022 $ 2,344,170 344,720 357,036 77 (701,833) $ 2,344,170 Net income for common stock 135,769 20,884 5,076 — (25,960) 135,769 Other comprehensive loss, net of taxes (166) (9) (23) — 32 (166) Common stock dividends (96,750) (13,425) (11,025) — 24,450 (96,750) Balance, September 30, 2023 $ 2,383,023 352,170 351,064 77 (703,311) $ 2,383,023
Schedule of Condensed Consolidating Statement of Cash Flows	(in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating Hawaiian Electric Net cash provided by (used in) operating activities $ 237,155 54,936 41,851 (9,212) (2,082) $ 322,648 Cash flows from investing activities Capital expenditures (141,000) (39,405) (63,895) — — (244,300) Advances to affiliates (30,700) — — — 30,700 — Other (18,696) 523 (1,012) — 21,882 2,697 Net cash used in investing activities (190,396) (38,882) (64,907) — 52,582 (241,603) Cash flows from financing activities Common stock dividends (26,000) — — — — (26,000) Preferred stock dividends of Hawaiian Electric and subsidiaries (1,496) — — — — (1,496) Proceeds from issuance of common stock — — — 19,800 (19,800) — Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less — — 30,700 — (30,700) — Payments of obligations under finance leases (5,233) (470) (173) — — (5,876) Other (4,393) (508) (1,225) — — (6,126) Net cash provided by (used in) financing activities (37,122) (978) 29,302 19,800 (50,500) (39,498) Net increase in cash, cash equivalents and restricted cash 9,637 15,076 6,246 10,588 — 41,547 Cash, cash equivalents and restricted cash, beginning of period 91,755 10,658 5,587 77 — 108,077 Cash, cash equivalents and restricted cash, end of period 101,392 25,734 11,833 10,665 — 149,624 Less: Restricted cash (2,000) — — — — (2,000) Cash and cash equivalents, end of period $ 99,392 25,734 11,833 10,665 — $ 147,624 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 336,248 59,029 35,284 — (24,450) $ 406,111 Cash flows from investing activities Capital expenditures (217,276) (47,609) (69,612) — — (334,497) Advances to affiliates — 4,500 21,700 — (26,200) — Other 3,179 912 1,125 — — 5,216 Net cash used in investing activities (214,097) (42,197) (46,787) — (26,200) (329,281) Cash flows from financing activities Common stock dividends (96,750) (13,425) (11,025) — 24,450 (96,750) Preferred stock dividends of Hawaiian Electric and subsidiaries (810) (400) (286) — — (1,496) Proceeds from issuance of long-term debt 300,000 25,000 25,000 — — 350,000 Net decrease in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less (114,167) — — — 26,200 (87,967) Payments of obligations under finance leases (1,914) (248) — — — (2,162) Other (571) (135) (137) — — (843) Net cash provided by financing activities 85,788 10,792 13,552 — 50,650 160,782 Net increase in cash, cash equivalents and restricted cash 207,939 27,624 2,049 — — 237,612 Cash and cash equivalents, beginning of period 27,579 5,092 6,494 77 — 39,242 Cash, cash equivalents and restricted cash, end of period 235,518 32,716 8,543 77 — 276,854 Less: Restricted cash (2,000) — — — — (2,000) Cash and cash equivalents, end of period $ 233,518 32,716 8,543 77 — $ 274,854

Bank segment (Tables)

Bank segment (Tables)	9 Months Ended
	Sep. 30, 2024
Bank Subsidiary [Abstract]
Schedule of Statements of Income Data	(in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 592,784 123,238 113,840 2,402 (2,647) $ 829,617 Expenses Fuel oil 207,498 31,464 40,076 — — 279,038 Purchased power 135,645 35,291 18,229 — — 189,165 Other operation and maintenance 105,977 25,614 32,769 484 (2,647) 162,197 Wildfire tort-related claims (Note 2) 130,400 16,300 16,300 — — 163,000 Depreciation 42,004 10,964 9,844 — — 62,812 Taxes, other than income taxes 55,787 11,511 10,671 — — 77,969 Total expenses 677,311 131,144 127,889 484 (2,647) 934,181 Operating income (loss) (84,527) (7,906) (14,049) 1,918 — (104,564) Allowance for equity funds used during construction 2,628 256 416 — — 3,300 Equity in earnings of subsidiaries (18,558) — — — 18,558 — Retirement defined benefits credit (expense)—other than service costs 826 162 (29) — — 959 Interest expense and other charges, net (14,870) (2,760) (4,324) — 1,731 (20,223) Allowance for borrowed funds used during construction 1,055 75 201 — — 1,331 Interest Income 2,971 324 107 — (1,731) 1,671 Income (loss) before income taxes (110,475) (9,849) (17,678) 1,918 18,558 (117,526) Income tax expense (benefit) (28,160) (2,807) (4,966) 494 — (35,439) Net income (loss) (82,315) (7,042) (12,712) 1,424 18,558 (82,087) Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income (loss) attributable to Hawaiian Electric (82,315) (7,175) (12,807) 1,424 18,558 (82,315) Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income (loss) for common stock $ (82,585) (7,175) (12,807) 1,424 18,558 $ (82,585) (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 570,323 116,192 108,472 — — $ 794,987 Expenses Fuel oil 196,223 30,956 40,259 — — 267,438 Purchased power 132,536 30,265 14,994 — — 177,795 Other operation and maintenance 83,528 21,351 37,629 — — 142,508 Depreciation 41,276 10,635 9,254 — — 61,165 Taxes, other than income taxes 53,511 10,857 10,355 — — 74,723 Total expenses 507,074 104,064 112,491 — — 723,629 Operating income (loss) 63,249 12,128 (4,019) — — 71,358 Allowance for equity funds used during construction 3,005 366 629 — — 4,000 Equity in earnings of subsidiaries 3,005 — — — (3,005) — Retirement defined benefits credit (expense)—other than service costs 992 163 (23) — — 1,132 Interest expense and other charges, net (16,295) (2,988) (3,164) — — (22,447) Allowance for borrowed funds used during construction 1,047 117 208 — — 1,372 Income (loss) before income taxes 55,003 9,786 (6,369) — (3,005) 55,415 Income tax expense (benefit) 11,272 2,234 (2,050) — — 11,456 Net income (loss) 43,731 7,552 (4,319) — (3,005) 43,959 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income (loss) attributable to Hawaiian Electric 43,731 7,419 (4,414) — (3,005) 43,731 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income (loss) for common stock $ 43,461 7,419 (4,414) — (3,005) $ 43,461 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 1,721,592 358,510 330,669 2,402 (2,647) $ 2,410,526 Expenses Fuel oil 605,083 91,590 125,313 — — 821,986 Purchased power 390,302 98,415 41,593 — — 530,310 Other operation and maintenance 290,578 74,748 90,485 484 (2,647) 453,648 Wildfire tort-related claims (Note 2) 1,500,000 187,500 187,500 — — 1,875,000 Depreciation 126,011 32,892 29,533 — — 188,436 Taxes, other than income taxes 162,410 33,411 30,974 — — 226,795 Total expenses 3,074,384 518,556 505,398 484 (2,647) 4,096,175 Operating income (loss) (1,352,792) (160,046) (174,729) 1,918 — (1,685,649) Allowance for equity funds used during construction 8,027 893 1,356 — — 10,276 Equity in earnings of subsidiaries (258,633) — — — 258,633 — Retirement defined benefits credit (expense)—other than service costs 2,681 498 (76) — — 3,103 Interest expense and other charges, net (44,879) (8,648) (13,114) — 5,016 (61,625) Allowance for borrowed funds used during construction 3,168 267 626 — — 4,061 Interest Income 8,606 720 245 — (5,016) 4,555 Income (loss) before income taxes (1,633,822) (166,316) (185,692) 1,918 258,633 (1,725,279) Income tax expense (benefit) (361,874) (43,636) (49,001) 494 — (454,017) Net income (loss) (1,271,948) (122,680) (136,691) 1,424 258,633 (1,271,262) Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income (loss) attributable to Hawaiian Electric (1,271,948) (123,080) (136,977) 1,424 258,633 (1,271,948) Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income (loss) for common stock $ (1,272,758) (123,080) (136,977) 1,424 258,633 $ (1,272,758) (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiary Consolidating adjustments Hawaiian Electric Revenues $ 1,742,542 343,554 333,573 — (130) $ 2,419,539 Expenses Fuel oil 663,521 79,187 138,984 — — 881,692 Purchased power 362,275 101,597 35,118 — — 498,990 Other operation and maintenance 255,728 64,367 87,089 — — 407,184 Depreciation 123,114 31,906 27,761 — — 182,781 Taxes, other than income taxes 164,510 31,983 31,541 — — 228,034 Total expenses 1,569,148 309,040 320,493 — — 2,198,681 Operating income 173,394 34,514 13,080 — (130) 220,858 Allowance for equity funds used during construction 8,604 1,004 1,465 — — 11,073 Equity in earnings of subsidiaries 25,960 — — — (25,960) — Retirement defined benefits credit (expense)—other than service costs 2,801 500 (74) — — 3,227 Interest expense and other charges, net (45,594) (8,794) (9,307) — 130 (63,565) Allowance for borrowed funds used during construction 2,995 321 482 — — 3,798 Income before income taxes 168,160 27,545 5,646 — (25,960) 175,391 Income taxes 31,581 6,261 284 — — 38,126 Net income 136,579 21,284 5,362 — (25,960) 137,265 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 136,579 20,884 5,076 — (25,960) 136,579 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 135,769 20,884 5,076 — (25,960) $ 135,769 Statements of Income and Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 Interest and dividend income Interest and fees on loans $ 73,654 $ 71,540 $ 219,585 $ 204,348 Interest and dividends on investment securities 14,001 14,096 42,183 42,508 Total interest and dividend income 87,655 85,636 261,768 246,856 Interest expense Interest on deposit liabilities 19,018 14,446 54,465 30,944 Interest on other borrowings 6,403 8,598 21,036 25,171 Total interest expense 25,421 23,044 75,501 56,115 Net interest income 62,234 62,592 186,267 190,741 Provision for credit losses 248 8,835 (3,821) 10,053 Net interest income after provision for credit losses 61,986 53,757 190,088 180,688 Noninterest income Fees from other financial services 5,188 4,703 15,195 14,391 Fee income on deposit liabilities 5,156 4,924 14,684 14,027 Fee income on other financial products 3,131 2,440 8,834 7,952 Bank-owned life insurance 2,993 2,303 8,832 5,683 Mortgage banking income 363 341 1,151 701 Gain on sale of real estate — — — 495 Other income, net 658 627 1,767 2,106 Total noninterest income 17,489 15,338 50,463 45,355 Noninterest expense Compensation and employee benefits 31,485 29,902 93,746 89,500 Occupancy 5,630 5,154 15,913 16,281 Data processing 4,974 5,133 14,780 15,240 Services 3,816 3,627 12,217 8,911 Equipment 2,436 3,125 7,562 8,728 Office supplies, printing and postage 1,014 1,022 3,038 3,296 Marketing 885 984 2,408 2,834 Goodwill impairment — — 82,190 — Other expense 5,806 7,399 16,561 19,742 Total noninterest expense 56,046 56,346 248,415 164,532 Income (loss) before income taxes 23,429 12,749 (7,864) 61,511 Income tax (benefit) 4,651 1,384 (1,789) 11,380 Net income (loss) 18,778 11,365 (6,075) 50,131 Other comprehensive income (loss), net of taxes 40,204 (34,231) 32,069 (23,011) Comprehensive income (loss) $ 58,982 $ (22,866) $ 25,994 $ 27,120 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 Interest and dividend income $ 87,655 $ 85,636 $ 261,768 $ 246,856 Noninterest income 17,489 15,338 50,463 45,355 Less: Gain on sale of real estate — — — 495 *Revenues-Bank 105,144 100,974 312,231 291,716 Total interest expense 25,421 23,044 75,501 56,115 Provision for credit losses 248 8,835 (3,821) 10,053 Noninterest expense 56,046 56,346 248,415 164,532 Less: Gain on sale of real estate — — — 495 Less: Retirement defined benefits credit—other than service costs (257) (190) (818) (564) *Expenses-Bank 81,972 88,415 320,913 230,769 *Operating income (loss)-Bank 23,172 12,559 (8,682) 60,947 Add back: Retirement defined benefits credit—other than service costs (257) (190) (818) (564) Income (loss) before income taxes $ 23,429 $ 12,749 $ (7,864) $ 61,511
Schedule of Statements of Comprehensive Income Data	Statements of Income and Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 Interest and dividend income Interest and fees on loans $ 73,654 $ 71,540 $ 219,585 $ 204,348 Interest and dividends on investment securities 14,001 14,096 42,183 42,508 Total interest and dividend income 87,655 85,636 261,768 246,856 Interest expense Interest on deposit liabilities 19,018 14,446 54,465 30,944 Interest on other borrowings 6,403 8,598 21,036 25,171 Total interest expense 25,421 23,044 75,501 56,115 Net interest income 62,234 62,592 186,267 190,741 Provision for credit losses 248 8,835 (3,821) 10,053 Net interest income after provision for credit losses 61,986 53,757 190,088 180,688 Noninterest income Fees from other financial services 5,188 4,703 15,195 14,391 Fee income on deposit liabilities 5,156 4,924 14,684 14,027 Fee income on other financial products 3,131 2,440 8,834 7,952 Bank-owned life insurance 2,993 2,303 8,832 5,683 Mortgage banking income 363 341 1,151 701 Gain on sale of real estate — — — 495 Other income, net 658 627 1,767 2,106 Total noninterest income 17,489 15,338 50,463 45,355 Noninterest expense Compensation and employee benefits 31,485 29,902 93,746 89,500 Occupancy 5,630 5,154 15,913 16,281 Data processing 4,974 5,133 14,780 15,240 Services 3,816 3,627 12,217 8,911 Equipment 2,436 3,125 7,562 8,728 Office supplies, printing and postage 1,014 1,022 3,038 3,296 Marketing 885 984 2,408 2,834 Goodwill impairment — — 82,190 — Other expense 5,806 7,399 16,561 19,742 Total noninterest expense 56,046 56,346 248,415 164,532 Income (loss) before income taxes 23,429 12,749 (7,864) 61,511 Income tax (benefit) 4,651 1,384 (1,789) 11,380 Net income (loss) 18,778 11,365 (6,075) 50,131 Other comprehensive income (loss), net of taxes 40,204 (34,231) 32,069 (23,011) Comprehensive income (loss) $ 58,982 $ (22,866) $ 25,994 $ 27,120 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 Interest and dividend income $ 87,655 $ 85,636 $ 261,768 $ 246,856 Noninterest income 17,489 15,338 50,463 45,355 Less: Gain on sale of real estate — — — 495 *Revenues-Bank 105,144 100,974 312,231 291,716 Total interest expense 25,421 23,044 75,501 56,115 Provision for credit losses 248 8,835 (3,821) 10,053 Noninterest expense 56,046 56,346 248,415 164,532 Less: Gain on sale of real estate — — — 495 Less: Retirement defined benefits credit—other than service costs (257) (190) (818) (564) *Expenses-Bank 81,972 88,415 320,913 230,769 *Operating income (loss)-Bank 23,172 12,559 (8,682) 60,947 Add back: Retirement defined benefits credit—other than service costs (257) (190) (818) (564) Income (loss) before income taxes $ 23,429 $ 12,749 $ (7,864) $ 61,511
Schedule of Balance Sheets Data	(in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsi- diaries Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,860 5,645 3,514 — — $ 52,019 Plant and equipment 5,503,512 1,494,982 1,414,657 — — 8,413,151 Right-of-use assets - finance lease 362,741 36,074 50,757 — — 449,572 Less accumulated depreciation (2,028,302) (685,469) (609,419) — — (3,323,190) Construction in progress 276,525 27,878 42,270 — — 346,673 Utility property, plant and equipment, net 4,157,336 879,110 901,779 — — 5,938,225 Nonutility property, plant and equipment, less accumulated depreciation 5,292 115 1,532 — — 6,939 Total property, plant and equipment, net 4,162,628 879,225 903,311 — — 5,945,164 Investment in wholly owned subsidiaries, at equity 669,450 — — — (669,450) — Current assets Cash and cash equivalents 99,392 25,734 11,833 10,665 — 147,624 Restricted cash 2,000 — — — — 2,000 Advances to affiliates 46,200 — — — (46,200) — Customer accounts receivable, net 32,405 7,594 9,774 158,180 — 207,953 Accrued unbilled revenues, net 23,595 5,568 3,560 166,934 — 199,657 Other accounts receivable, net 193,771 61,265 54,397 — (223,945) 85,488 Fuel oil stock, at average cost 79,736 10,657 18,650 — — 109,043 Materials and supplies, at average cost 66,289 14,736 33,029 — — 114,054 Prepayments and other 70,526 7,456 18,559 — (1,718) 94,823 Regulatory assets 46,579 4,761 8,496 — — 59,836 Total current assets 660,493 137,771 158,298 335,779 (271,863) 1,020,478 Other long-term assets Operating lease right-of-use assets 31,134 22,422 7,451 — — 61,007 Regulatory assets 207,572 16,091 30,748 — — 254,411 Other 250,162 37,716 34,850 — (40,584) 282,144 Total other long-term assets 488,868 76,229 73,049 — (40,584) 597,562 Total assets $ 5,981,439 1,093,225 1,134,658 335,779 (981,897) $ 7,563,204 (continued) Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Balance Sheet (continued) September 30, 2024 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsi- diaries Consoli- Hawaiian Electric Capitalization and liabilities Capitalization Common stock equity $ 1,110,259 237,105 280,629 151,716 (669,450) $ 1,110,259 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,387,029 244,437 256,537 — — 1,888,003 Total capitalization 2,519,581 488,542 542,166 151,716 (669,450) 3,032,555 Current liabilities Current portion of operating lease liabilities 5,183 7,302 2,926 — — 15,411 Current portion of long-term debt 39,980 4,998 1,999 — — 46,977 Short-term borrowings from affiliate — — 46,200 — (46,200) — Accounts payable 141,147 24,484 36,796 — — 202,427 Interest and preferred dividends payable 22,194 3,652 4,508 — (537) 29,817 Taxes accrued, including revenue taxes 187,756 40,137 34,984 494 (1,718) 261,653 Regulatory liabilities 10,887 9,782 5,015 — — 25,684 Wildfire tort-related claims (Note 2) 383,000 47,875 47,875 — — 478,750 Other 91,572 28,782 33,180 183,569 (223,408) 113,695 Total current liabilities 881,719 167,012 213,483 184,063 (271,863) 1,174,414 Deferred credits and other liabilities Operating lease liabilities 30,785 15,480 4,831 — — 51,096 Finance lease liabilities 346,344 34,543 50,036 — — 430,923 Deferred income taxes — 3,024 22,534 — (25,558) — Regulatory liabilities 839,392 208,022 118,001 — — 1,165,415 Unamortized tax credits 56,219 10,887 11,100 — — 78,206 Defined benefit pension and other postretirement benefit plans liability 75,907 — — — (15,026) 60,881 Wildfire tort-related claims (Note 2) 1,149,000 143,625 143,625 — — 1,436,250 Other 82,492 22,090 28,882 — — 133,464 Total deferred credits and other liabilities 2,580,139 437,671 379,009 — (40,584) 3,356,235 Total capitalization and liabilities $ 5,981,439 1,093,225 1,134,658 335,779 (981,897) $ 7,563,204 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,859 5,645 3,594 — — $ 52,098 Plant and equipment 5,398,281 1,459,639 1,374,890 — — 8,232,810 Finance lease right-of-use assets 306,099 36,075 — — — 342,174 Less accumulated depreciation (1,925,660) (666,581) (605,273) — — (3,197,514) Construction in progress 247,836 33,488 38,899 — — 320,223 Utility property, plant and equipment, net 4,069,415 868,266 812,110 — — 5,749,791 Nonutility property, plant and equipment, less accumulated depreciation 5,295 115 1,532 — — 6,942 Total property, plant and equipment, net 4,074,710 868,381 813,642 — — 5,756,733 Investment in wholly owned subsidiaries, at equity 722,211 — — — (722,211) — Current assets Cash and cash equivalents 89,755 10,658 5,587 77 — 106,077 Restricted cash 2,000 — — — — 2,000 Advances to affiliates 70,500 — — — (70,500) — Customer accounts receivable, net 172,747 38,216 33,346 — — 244,309 Accrued unbilled revenues, net 136,367 25,102 24,175 — — 185,644 Other accounts receivable, net 143,160 13,318 32,521 — (77,480) 111,519 Fuel oil stock, at average cost 108,228 17,968 22,041 — — 148,237 Materials and supplies, at average cost 64,334 14,397 35,702 — — 114,433 Prepayments and other 40,767 7,724 11,638 — (1,638) 58,491 Regulatory assets 58,920 5,771 3,762 — — 68,453 Total current assets 886,778 133,154 168,772 77 (149,618) 1,039,163 Other long-term assets Operating lease right-of-use assets 34,856 27,470 9,551 — — 71,877 Regulatory assets 189,417 13,575 23,359 — — 226,351 Other 134,033 36,439 33,129 — (14,171) 189,430 Total other long-term assets 358,306 77,484 66,039 — (14,171) 487,658 Total assets $ 6,042,005 1,079,019 1,048,453 77 (886,000) $ 7,283,554 (continued) Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Balance Sheet (continued) December 31, 2023 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Capitalization and liabilities Capitalization Common stock equity $ 2,409,110 359,790 362,344 77 (722,211) $ 2,409,110 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,426,516 249,339 258,422 — — 1,934,277 Total capitalization 3,857,919 616,129 625,766 77 (722,211) 4,377,680 Current liabilities Current portion of operating lease liabilities 6,788 7,025 2,804 — — 16,617 Short-term borrowings-affiliate — — 70,500 — (70,500) — Accounts payable 136,102 29,418 25,520 — — 191,040 Interest and preferred dividends payable 17,085 3,098 3,074 — (375) 22,882 Taxes accrued, including revenue taxes 211,840 43,932 37,808 — (1,638) 291,942 Regulatory liabilities 20,013 8,508 8,038 — — 36,559 Wildfire tort-related claims 75,000 — — — — 75,000 Other 90,131 33,240 50,170 — (77,105) 96,436 Total current liabilities 556,959 125,221 197,914 — (149,618) 730,476 Deferred credits and other liabilities Operating lease liabilities 34,262 20,792 7,044 — — 62,098 Finance lease liabilities 295,935 35,043 — — — 330,978 Deferred income taxes 280,029 51,661 67,311 — — 399,001 Regulatory liabilities 803,404 199,173 111,554 — — 1,114,131 Unamortized tax credits 61,130 11,650 11,532 — — 84,312 Defined benefit pension and other postretirement benefit plans liability 74,842 — — — (14,171) 60,671 Other 77,525 19,350 27,332 — 124,207 Total deferred credits and other liabilities 1,627,127 337,669 224,773 — (14,171) 2,175,398 Total capitalization and liabilities $ 6,042,005 1,079,019 1,048,453 77 (886,000) $ 7,283,554 Balance Sheets Data (in thousands) September 30, 2024 December 31, 2023 Assets Cash and due from banks $ 155,869 $ 184,383 Interest-bearing deposits 176,784 251,072 Cash and cash equivalents 332,653 435,455 Investment securities Available-for-sale, at fair value 1,084,083 1,136,439 Held-to-maturity, at amortized cost (fair value of $1,086,205 and $1,103,668, at September 30, 2024 and December 31, 2023, respectively) 1,159,229 1,201,314 Stock in Federal Home Loan Bank, at cost 29,204 14,728 Loans held for investment 6,037,410 6,180,810 Allowance for credit losses (64,796) (74,372) Net loans 5,972,614 6,106,438 Loans held for sale, at lower of cost or fair value 2,704 15,168 Other 687,359 681,460 Goodwill — 82,190 Total assets $ 9,267,846 $ 9,673,192 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,486,717 $ 2,599,762 Deposit liabilities—interest-bearing 5,512,493 5,546,016 Other borrowings 520,000 750,000 Other 191,512 247,563 Total liabilities 8,710,722 9,143,341 Common stock 1 1 Additional paid-in capital 359,346 358,067 Retained earnings 457,980 464,055 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (251,703) $ (282,963) Retirement benefit plans (8,500) (260,203) (9,309) (292,272) Total shareholder’s equity 557,124 529,851 Total liabilities and shareholder’s equity $ 9,267,846 $ 9,673,192 Other assets Bank-owned life insurance $ 199,741 $ 187,857 Premises and equipment, net 180,073 187,042 Accrued interest receivable 28,764 28,472 Mortgage-servicing rights 7,722 8,169 Low-income housing investments 100,499 112,234 Deferred tax asset 108,338 104,292 Other 62,222 53,394 Total other assets $ 687,359 $ 681,460 Other liabilities Accrued expenses $ 80,788 $ 115,231 Cashier’s checks 35,625 40,479 Advance payments by borrowers 4,373 10,107 Other 70,726 81,746 Total other liabilities $ 191,512 $ 247,563
Schedule of the Book Value and Aggregate Fair Value by Major Security Type	The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair Amount Number of issues Fair Amount September 30, 2024 Available-for-sale U.S. Treasury and federal agency obligations $ 7,789 $ — $ (192) $ 7,597 — $ — $ — 6 $ 7,597 $ (192) Mortgage-backed securities* 1,203,271 31 (174,675) 1,028,627 — — — 108 1,025,897 (174,675) Corporate bonds 35,137 — (1,213) 33,924 — — — 3 33,924 (1,213) Mortgage revenue bonds 13,935 — — 13,935 — — — — — — $ 1,260,132 $ 31 $ (176,080) $ 1,084,083 — $ — $ — 117 $ 1,067,418 $ (176,080) Held-to-maturity U.S. Treasury and federal agency obligations $ 59,935 $ — $ (5,686) $ 54,249 — $ — $ — 3 $ 54,249 $ (5,686) Mortgage-backed securities* 1,099,294 6,355 (73,693) 1,031,956 — — — 65 648,634 (73,693) $ 1,159,229 $ 6,355 $ (79,379) $ 1,086,205 — $ — $ — 68 $ 702,883 $ (79,379) December 31, 2023 Available-for-sale U.S. Treasury and federal agency obligations $ 12,437 $ — $ (427) $ 12,010 — $ — $ — 9 $ 12,010 $ (427) Mortgage-backed securities* 1,279,852 — (202,684) 1,077,168 3 1,649 (22) 116 1,075,519 (202,662) Corporate bonds 35,239 — (2,336) 32,903 — — — 3 32,903 (2,336) Mortgage revenue bonds 14,358 — — 14,358 — — — — — — $ 1,341,886 $ — $ (205,447) $ 1,136,439 3 $ 1,649 $ (22) 128 $ 1,120,432 $ (205,425) Held-to-maturity U.S. Treasury and federal agency obligations $ 59,917 $ — $ (7,135) $ 52,782 — $ — $ — 3 $ 52,782 $ (7,135) Mortgage-backed securities* 1,141,397 2,221 (92,732) 1,050,886 37 378,326 (7,610) 43 432,082 (85,122) $ 1,201,314 $ 2,221 $ (99,867) $ 1,103,668 37 $ 378,326 $ (7,610) 46 $ 484,864 $ (92,257) * Issued or guaranteed by U.S. Government agencies or sponsored agencies
Schedule of Contractual Maturities of Available-for-Sale Securities	The contractual maturities of investment securities were as follows: September 30, 2024 Amortized Fair value (in thousands) Available-for-sale Due in one year or less $ 370 $ 364 Due after one year through five years 42,557 41,157 Due after five years through ten years 13,934 13,935 Due after ten years — — 56,861 55,456 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,203,271 1,028,627 Total available-for-sale securities $ 1,260,132 $ 1,084,083 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years 39,858 36,634 Due after five years through ten years 20,077 17,615 Due after ten years — — 59,935 54,249 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,099,294 1,031,956 Total held-to-maturity securities $ 1,159,229 $ 1,086,205
Schedule of Components of Loans Receivable	The components of loans were summarized as follows: September 30, 2024 December 31, 2023 (in thousands) Real estate: Residential 1-4 family $ 2,608,281 $ 2,595,162 Commercial real estate 1,366,214 1,374,038 Home equity line of credit 959,607 1,017,207 Residential land 19,900 18,364 Commercial construction 208,867 172,405 Residential construction 16,998 17,843 Total real estate 5,179,867 5,195,019 Commercial 645,571 743,303 Consumer 239,410 272,256 Total loans 6,064,848 6,210,578 Less: Deferred fees and discounts (27,438) (29,768) Allowance for credit losses (64,796) (74,372) Total loans, net $ 5,972,614 $ 6,106,438
Schedule of Allowance for Credit Losses	The allowance for credit losses (balances and changes) by portfolio segment were as follows: (in thousands) Residential Commercial real Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Total Three months ended September 30, 2024 Allowance for credit losses: Beginning balance $ 6,219 $ 18,656 $ 9,552 $ 759 $ 3,369 $ 38 $ 6,317 $ 21,903 $ 66,813 Charge-offs (8) — — — — — (120) (2,999) (3,127) Recoveries 9 — 12 — — — 100 741 862 Provision (211) 96 (443) (147) (278) (1) (292) 1,524 248 Ending balance $ 6,009 $ 18,752 $ 9,121 $ 612 $ 3,091 $ 37 $ 6,005 $ 21,169 $ 64,796 Three months ended September 30, 2023 Allowance for credit losses: Beginning balance $ 4,708 $ 20,278 $ 7,139 $ 653 $ 2,549 $ 26 $ 11,358 $ 22,357 $ 69,068 Charge-offs — — — — — — (125) (2,667) (2,792) Recoveries 57 — 131 1 — — 725 841 1,755 Provision 1,702 2,180 505 (33) 1,075 16 (1,175) 4,065 8,335 Ending balance $ 6,467 $ 22,458 $ 7,775 $ 621 $ 3,624 $ 42 $ 10,783 $ 24,596 $ 76,366 Nine months ended September 30, 2024 Allowance for credit losses: Beginning balance $ 7,435 $ 22,185 $ 7,778 $ 621 $ 3,603 $ 43 $ 9,122 $ 23,585 $ 74,372 Charge-offs (850) — — — — — (360) (8,718) (9,928) Recoveries 202 — 259 — — — 385 2,427 3,273 Provision (778) (3,433) 1,084 (9) (512) (6) (3,142) 3,875 (2,921) Ending balance $ 6,009 $ 18,752 $ 9,121 $ 612 $ 3,091 $ 37 $ 6,005 $ 21,169 $ 64,796 Nine months ended September 30, 2023 Allowance for credit losses: Beginning balance $ 6,270 $ 21,898 $ 6,125 $ 717 $ 1,195 $ 46 $ 12,426 $ 23,539 $ 72,216 Charge-offs (990) — (360) — — — (509) (7,558) (9,417) Recoveries 63 — 165 4 — — 1,329 2,653 4,214 Provision 1,124 560 1,845 (100) 2,429 (4) (2,463) 5,962 9,353 Ending balance $ 6,467 $ 22,458 $ 7,775 $ 621 $ 3,624 $ 42 $ 10,783 $ 24,596 $ 76,366
Schedule of Allowance for Loan Commitments	The allowance for loan commitments by portfolio segment were as follows: (in thousands) Home equity Commercial construction Commercial loans Total Three months ended September 30, 2024 Allowance for loan commitments: Beginning balance $ 700 $ 3,100 $ 400 $ 4,200 Provision — — — — Ending balance $ 700 $ 3,100 $ 400 $ 4,200 Three months ended September 30, 2023 Allowance for loan commitments: Beginning balance $ 600 $ 3,800 $ 200 $ 4,600 Provision — 500 — 500 Ending balance $ 600 $ 4,300 $ 200 $ 5,100 Nine months ended September 30, 2024 Allowance for loan commitments: Beginning balance $ 600 $ 4,300 $ 200 $ 5,100 Provision 100 (1,200) 200 (900) Ending balance $ 700 $ 3,100 $ 400 $ 4,200 Nine months ended September 30, 2023 Allowance for loan commitments: Beginning balance $ 400 $ 2,600 $ 1,400 $ 4,400 Provision 200 1,700 (1,200) 700 Ending balance $ 600 $ 4,300 $ 200 $ 5,100
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) 2024 2023 2022 2021 2020 Prior Revolving Converted to term loans Total September 30, 2024 Residential 1-4 family Current $ 131,347 $ 253,155 $ 397,855 $ 706,189 $ 385,208 $ 726,220 $ — $ — $ 2,599,974 30-59 days past due — — — 333 264 1,541 — — 2,138 60-89 days past due — — — — — 891 — — 891 Greater than 89 days past due — — 727 543 — 4,008 — — 5,278 131,347 253,155 398,582 707,065 385,472 732,660 — — 2,608,281 Home equity line of credit Current — — — — — — 888,858 67,452 956,310 30-59 days past due — — — — — — 969 419 1,388 60-89 days past due — — — — — — 624 449 1,073 Greater than 89 days past due — — — — — — 732 104 836 — — — — — — 891,183 68,424 959,607 Residential land Current 5,889 3,689 4,513 3,473 1,729 607 — — 19,900 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 5,889 3,689 4,513 3,473 1,729 607 — — 19,900 Residential construction Current 831 9,640 6,527 — — — — — 16,998 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 831 9,640 6,527 — — — — — 16,998 Consumer Current 31,632 63,848 120,783 5,061 648 280 9,635 1,790 233,677 30-59 days past due 503 566 1,387 101 4 — 67 96 2,724 60-89 days past due 111 402 990 61 8 — 21 40 1,633 Greater than 89 days past due 88 353 602 40 6 — 116 171 1,376 32,334 65,169 123,762 5,263 666 280 9,839 2,097 239,410 Commercial real estate Pass 35,630 104,725 376,087 188,549 256,108 368,171 15,482 — 1,344,752 Special Mention — — 1,208 1,455 — 1,106 — — 3,769 Substandard — — — 1,505 — 13,990 — — 15,495 Doubtful — — — — — 2,198 — — 2,198 35,630 104,725 377,295 191,509 256,108 385,465 15,482 — 1,366,214 Commercial construction Pass — 68,962 41,201 17,685 1,333 — 79,686 — 208,867 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — — 68,962 41,201 17,685 1,333 — 79,686 — 208,867 Commercial Pass 90,529 80,793 171,002 71,410 44,575 75,689 95,912 7,074 636,984 Special Mention — — — — — — — — — Substandard 1,058 — 3,812 158 — 2,635 799 51 8,513 Doubtful — — — — 74 — — — 74 91,587 80,793 174,814 71,568 44,649 78,324 96,711 7,125 645,571 Total loans $ 297,618 $ 586,133 $ 1,126,694 $ 996,563 $ 689,957 $ 1,197,336 $ 1,092,901 $ 77,646 $ 6,064,848 Term Loans by Origination Year Revolving Loans (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Converted to term loans Total December 31, 2023 Residential 1-4 family Current $ 263,605 $ 407,304 $ 729,256 $ 399,766 $ 104,487 $ 672,408 $ — $ — $ 2,576,826 30-59 days past due — 708 — 268 — 3,525 — — 4,501 60-89 days past due — 726 2,694 — — 1,745 — — 5,165 Greater than 89 days past due — 2,519 871 1,129 489 3,662 — — 8,670 263,605 411,257 732,821 401,163 104,976 681,340 — — 2,595,162 Home equity line of credit Current — — — — — — 954,461 59,146 1,013,607 30-59 days past due — — — — — — 1,219 262 1,481 60-89 days past due — — — — — — 597 — 597 Greater than 89 days past due — — — — — — 1,111 411 1,522 — — — — — — 957,388 59,819 1,017,207 Residential land Current 3,788 4,097 7,234 1,847 — 723 — — 17,689 30-59 days past due — — — — — — — — — 60-89 days past due — 675 — — — — — — 675 Greater than 89 days past due — — — — — — — — — 3,788 4,772 7,234 1,847 — 723 — — 18,364 Residential construction Current 5,369 10,984 1,490 — — — — — 17,843 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 5,369 10,984 1,490 — — — — — 17,843 Consumer Current 87,686 153,239 9,852 1,654 451 200 10,663 2,779 266,524 30-59 days past due 805 1,314 176 29 24 — 56 163 2,567 60-89 days past due 385 886 114 41 21 — 60 69 1,576 Greater than 89 days past due 354 786 101 24 34 — 67 223 1,589 89,230 156,225 10,243 1,748 530 200 10,846 3,234 272,256 Commercial real estate Pass 104,368 384,144 180,986 267,458 65,625 307,367 15,482 — 1,325,430 Special Mention — 1,975 11,159 — 14,110 3,008 — — 30,252 Substandard — — 1,538 — 11,048 5,770 — — 18,356 Doubtful — — — — — — — — — 104,368 386,119 193,683 267,458 90,783 316,145 15,482 — 1,374,038 Commercial construction Pass 45,863 33,240 26,133 1,333 — — 65,836 — 172,405 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 45,863 33,240 26,133 1,333 — — 65,836 — 172,405 Commercial Pass 124,667 199,796 106,669 73,976 37,580 80,012 87,206 6,250 716,156 Special Mention 1,860 6,989 951 — 250 — 7,352 — 17,402 Substandard — 2,962 1,848 98 60 3,369 1,275 133 9,745 Doubtful — — — — — — — — — 126,527 209,747 109,468 74,074 37,890 83,381 95,833 6,383 743,303 Total loans $ 638,750 $ 1,212,344 $ 1,081,072 $ 747,623 $ 234,179 $ 1,081,789 $ 1,145,385 $ 69,436 $ 6,210,578 Gross charge-offs by portfolio segment and vintage were as follows: (in thousands) 2024 2023 2022 2021 2020 Prior Total Nine months ended September 30, 2024 Residential 1-4 family $ — $ — $ 361 $ 277 $ — $ 212 $ 850 Commercial real estate — — — — — — — Home equity line of credit — — — — — — — Residential land — — — — — — — Commercial construction — — — — — — — Residential construction — — — — — — — Commercial — — 12 63 — 285 360 Consumer 733 2,853 4,329 481 102 220 8,718 Total $ 733 $ 2,853 $ 4,702 $ 821 $ 102 $ 717 $ 9,928
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 90 days or more past due Total Current Total Amortized cost> September 30, 2024 Real estate: Residential 1-4 family $ 2,138 $ 891 $ 5,278 $ 8,307 $ 2,599,974 $ 2,608,281 $ — Commercial real estate — — 10,698 10,698 1,355,516 1,366,214 — Home equity line of credit 1,388 1,073 836 3,297 956,310 959,607 — Residential land — — — — 19,900 19,900 — Commercial construction — — — — 208,867 208,867 — Residential construction — — — — 16,998 16,998 — Commercial 309 9 74 392 645,179 645,571 — Consumer 2,724 1,633 1,376 5,733 233,677 239,410 — Total loans $ 6,559 $ 3,606 $ 18,262 $ 28,427 $ 6,036,421 $ 6,064,848 $ — December 31, 2023 Real estate: Residential 1-4 family $ 4,501 $ 5,165 $ 8,670 $ 18,336 $ 2,576,826 $ 2,595,162 $ 425 Commercial real estate — — 11,048 11,048 1,362,990 1,374,038 — Home equity line of credit 1,481 597 1,522 3,600 1,013,607 1,017,207 — Residential land — 675 — 675 17,689 18,364 — Commercial construction — — — — 172,405 172,405 — Residential construction — — — — 17,843 17,843 — Commercial 163 135 244 542 742,761 743,303 — Consumer 2,567 1,576 1,589 5,732 266,524 272,256 — Total loans $ 8,712 $ 8,148 $ 23,073 $ 39,933 $ 6,170,645 $ 6,210,578 $ 425 Credit risk profile based on payment activity for loans modified during the nine months ended September 30, 2024 were as follows: (in thousands) Current 30-59 days past due 60-89 days past due 90 days or more past due Total Real estate loans Residential 1-4 family $ 4,867 $ 264 $ — $ 2,101 $ 7,232 Commercial real estate 1,208 — — — 1,208 Home equity line of credit 447 — 153 — 600 Residential land 675 — — — 675 Commercial construction — — — — — Residential construction — — — — — Commercial — — — — — Consumer — — — — — Total $ 7,197 $ 264 $ 153 $ 2,101 $ 9,715
Schedule of Credit Risk Profile Based on Nonaccrual Loans, Accruing Loans 90 days or More Past Due	The credit risk profile based on nonaccrual loans were as follows: (in thousands) September 30, 2024 December 31, 2023 With a related ACL Without a related ACL Total With a related ACL Without a related ACL Total Real estate: Residential 1-4 family $ 4,335 $ 4,107 $ 8,442 $ 7,755 $ 2,190 $ 9,945 Commercial real estate 10,698 — 10,698 11,048 — 11,048 Home equity line of credit 3,346 553 3,899 2,626 1,135 3,761 Residential land — — — 780 — 780 Commercial construction — — — — — — Residential construction — — — — — — Commercial 175 158 333 133 301 434 Consumer 2,273 — 2,273 2,458 — 2,458 Total $ 20,827 $ 4,818 $ 25,645 $ 24,800 $ 3,626 $ 28,426
Schedule of Loan Modification	Loan modifications made to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2024 were as follows: (in thousands) Term extension Interest Rate Reduction Payment delay Combination payment delay & term extension Total % of total class of loans Three months ended September 30, 2024 Real estate loans Residential 1-4 family $ 153 $ — $ 1,850 $ — $ 2,003 0.08 % Commercial real estate — — — — — — Home equity line of credit — 153 — — 153 0.02 Residential land — — — — — — Commercial construction — — — — — — Residential construction — — — — — — Commercial — — — — — — Consumer — — — — — — Total $ 153 $ 153 $ 1,850 $ — $ 2,156 0.04 % Nine months ended September 30, 2024 Real estate loans Residential 1-4 family $ 468 $ — $ 6,764 $ — $ 7,232 0.28 % Commercial real estate — — — 1,208 1,208 0.09 % Home equity line of credit — 153 447 — 600 0.06 % Residential land — — 675 — 675 3.39 % Commercial construction — — — — — — Residential construction — — — — — — Commercial — — — — — — Consumer — — — — — — Total $ 468 $ 153 $ 7,886 $ 1,208 $ 9,715 0.16 % Financial effect of loan modifications during the three and nine months ended September 30, 2024 for borrowers experiencing financial difficulty were as follows: Weighted average Term extension (in months) Interest Rate Reduction (in percent) Payment delay (in months) Three months ended September 30, 2024 Real estate loans Residential 1-4 family 329 — 6 Commercial real estate — — — Home equity line of credit — 3.00 % — Residential land — — — Commercial construction — — — Residential construction — — — Commercial — — — Consumer — — — Nine months ended September 30, 2024 Real estate loans Residential 1-4 family 208 — 9 Commercial real estate 9 — 9 Home equity line of credit — 3.00 % 11 Residential land — — 9 Commercial construction — — — Residential construction — — — Commercial — — — Consumer — — —
Schedule of Collateral-Dependent Loans	Loans considered collateral-dependent were as follows: Amortized cost (in thousands) September 30, 2024 December 31, 2023 Collateral type Real estate: Residential 1-4 family $ 4,184 $ 2,272 Residential real estate property Commercial real estate 10,698 11,048 Commercial real estate property Home equity line of credit 662 1,135 Residential real estate property Total real estate 15,544 14,455 Commercial 232 301 Business assets Total $ 15,776 $ 14,756
Schedule of Amortized Intangible Assets	Changes in the carrying value of MSRs were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net September 30, 2024 $ 18,284 $ (10,562) $ — $ 7,722 December 31, 2023 18,241 (10,072) — 8,169 Changes related to MSRs were as follows: Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 Mortgage servicing rights Beginning balance $ 7,906 $ 8,495 $ 8,169 $ 9,047 Amount capitalized 171 184 548 319 Amortization (355) (303) (995) (990) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 7,722 8,376 7,722 8,376 Valuation allowance for mortgage servicing rights Beginning balance — — — — Provision — — — — Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 7,722 $ 8,376 $ 7,722 $ 8,376
Schedule of Key Assumptions Used in Estimating fair Value	Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows: (dollars in thousands) September 30, 2024 December 31, 2023 Unpaid principal balance $ 1,392,423 $ 1,402,736 Weighted average note rate 3.61 % 3.47 % Weighted average discount rate 10.00 % 10.00 % Weighted average prepayment speed 7.47 % 5.71 %
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets	The sensitivity analysis of fair value of MSRs to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions was as follows: (dollars in thousands) September 30, 2024 December 31, 2023 Prepayment rate: 25 basis points adverse rate change $ (232) $ (90) 50 basis points adverse rate change (494) (204) Discount rate: 25 basis points adverse rate change (171) (203) 50 basis points adverse rate change (340) (402)
Schedule of Notional and Fair Value of Derivatives	The notional amount and fair value of ASB’s derivative financial instruments were as follows: September 30, 2024 December 31, 2023 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 4,672 $ 68 $ 6,246 $ 86 Forward commitments 4,250 10 5,500 (18)
Schedule of Derivative Financial Instruments	ASB’s derivative financial instruments, their fair values and balance sheet location were as follows: Derivative Financial Instruments Not Designated as Hedging Instruments 1 September 30, 2024 December 31, 2023 (in thousands) Asset derivatives Liability Asset derivatives Liability Interest rate lock commitments $ 68 $ — $ 86 $ — Forward commitments 10 — — 18 $ 78 $ — $ 86 $ 18 1 Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the balance sheets.
Schedule of Derivative Financial Instruments and Net Gain or Loss	The following table presents ASB’s derivative financial instruments and the amount and location of the net gains or losses recognized in ASB’s statements of income: Derivative Financial Instruments Not Designated as Hedging Instruments Location of net gains (losses) recognized in the Statements of Income Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 Interest rate lock commitments Mortgage banking income $ (21) $ (34) $ (18) $ 45 Forward commitments Mortgage banking income 5 (36) 28 (3) $ (16) $ (70) $ 10 $ 42

Shareholders' equity (Tables)

Shareholders' equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized gains (losses) on derivatives Retirement benefit plans AOCI AOCI-Retirement benefit plans Balance, December 31, 2023 $ (282,963) $ 1,638 $ (8,025) $ (289,350) $ 2,849 Current period other comprehensive income (loss) 31,260 (220) 113 31,153 (93) Balance, September 30, 2024 $ (251,703) $ 1,418 $ (7,912) $ (258,197) $ 2,756 Balance, December 31, 2022 $ (328,904) $ 1,991 $ (9,115) $ (336,028) $ 2,861 Current period other comprehensive income (loss) (21,330) (827) 161 (21,996) (166) Balance, September 30, 2023 $ (350,234) $ 1,164 $ (8,954) $ (358,024) $ 2,695
Schedule of Reclassification out of AOCI	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Three months ended September 30 Nine months ended September 30 (in thousands) 2024 2023 2024 2023 HEI consolidated Amortization of unrealized holding losses on held-to-maturity securities $ 3,366 $ 3,699 $ 9,740 $ 11,065 Bank revenues Net realized gains on derivatives qualifying as cash flow hedges (52) (47) (151) (143) Interest expense Retirement benefit plans: Amortization of prior service credit and net gains recognized during the period in net periodic benefit cost (1,244) (446) (2,138) (1,160) See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 1,333 470 2,251 1,321 See Note 9 for additional details Total reclassifications $ 3,403 $ 3,676 $ 9,702 $ 11,083 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net gains recognized during the period in net periodic benefit cost $ (1,331) $ (547) $ (2,344) $ (1,487) See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets 1,333 470 2,251 1,321 See Note 9 for additional details Total reclassifications $ 2 $ (77) $ (93) $ (166)

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Three months ended September 30, 2024 Nine months ended September 30, 2024 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 272,541 $ — $ — $ 272,541 $ 758,602 $ — $ — $ 758,602 Electric energy sales - commercial 268,538 — — 268,538 761,788 — — 761,788 Electric energy sales - large light and power 294,421 — — 294,421 846,448 — — 846,448 Electric energy sales - other 4,532 — — 4,532 14,087 — — 14,087 Bank fees — 13,475 — 13,475 — 38,713 — 38,713 Other sales — — 2,897 2,897 — — 9,167 9,167 Total revenues from contracts with customers 840,032 13,475 2,897 856,404 2,380,925 38,713 9,167 2,428,805 Revenues from other sources Regulatory revenue (19,924) — — (19,924) 780 — — 780 Bank interest and dividend income — 87,655 — 87,655 — 261,768 — 261,768 Other bank noninterest income — 4,014 — 4,014 — 11,750 — 11,750 Other 9,509 — 725 10,234 28,821 — 977 29,798 Total revenues from other sources (10,415) 91,669 725 81,979 29,601 273,518 977 304,096 Total revenues $ 829,617 $ 105,144 $ 3,622 $ 938,383 $ 2,410,526 $ 312,231 $ 10,144 $ 2,732,901 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 13,475 $ — $ 13,475 $ — $ 38,713 $ — $ 38,713 Services/goods transferred over time 840,032 — 2,897 842,929 2,380,925 — 9,167 2,390,092 Total revenues from contracts with customers $ 840,032 $ 13,475 $ 2,897 $ 856,404 $ 2,380,925 $ 38,713 $ 9,167 $ 2,428,805 Three months ended September 30, 2023 Nine months ended September 30, 2023 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 257,790 $ — $ — $ 257,790 $ 753,207 $ — $ — $ 753,207 Electric energy sales - commercial 257,876 — — 257,876 762,454 — — 762,454 Electric energy sales - large light and power 284,607 — — 284,607 855,396 — — 855,396 Electric energy sales - other 4,688 — — 4,688 14,628 — — 14,628 Bank fees — 12,067 — 12,067 — 36,370 — 36,370 Other sales — — 5,016 5,016 — — 13,361 13,361 Total revenues from contracts with customers 804,961 12,067 5,016 822,044 2,385,685 36,370 13,361 2,435,416 Revenues from other sources Regulatory revenue (20,927) — — (20,927) 3,716 — — 3,716 Bank interest and dividend income — 85,636 — 85,636 — 246,856 — 246,856 Other bank noninterest income — 3,271 — 3,271 — 8,490 — 8,490 Other 10,953 — 896 11,849 30,138 — 1,179 31,317 Total revenues from other sources (9,974) 88,907 896 79,829 33,854 255,346 1,179 290,379 Total revenues $ 794,987 $ 100,974 $ 5,912 $ 901,873 $ 2,419,539 $ 291,716 $ 14,540 $ 2,725,795 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 12,067 $ — $ 12,067 $ — $ 36,370 $ — $ 36,370 Services/goods transferred over time 804,961 — 5,016 809,977 2,385,685 — 13,361 2,399,046 Total revenues from contracts with customers $ 804,961 $ 12,067 $ 5,016 $ 822,044 $ 2,385,685 $ 36,370 $ 13,361 $ 2,435,416

Retirement benefits (Tables)

Retirement benefits (Tables)	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost for Consolidated HEI	The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended September 30 Nine months ended September 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2024 2023 2024 2023 2024 2023 2024 2023 HEI consolidated Service cost $ 12,061 $ 11,418 $ 270 $ 385 $ 34,590 $ 34,210 $ 833 $ 1,072 Interest cost 26,542 26,022 1,808 2,075 79,554 77,265 5,542 6,389 Expected return on plan assets (35,993) (35,238) (3,490) (3,426) (107,957) (105,630) (10,462) (10,236) Amortization of net prior period gain — — — (218) — — — (656) Amortization of net actuarial (gain)/losses 188 138 (763) (518) 410 515 (2,188) (1,416) Net periodic pension/benefit cost (return) 2,798 2,340 (2,175) (1,702) 6,597 6,360 (6,275) (4,847) Impact of PUC D&Os 17,406 17,663 2,052 1,536 53,585 53,929 5,827 4,385 Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os) $ 20,204 $ 20,003 $ (123) $ (166) $ 60,182 $ 60,289 $ (448) $ (462) Hawaiian Electric consolidated Service cost $ 11,670 $ 11,071 $ 266 $ 380 $ 33,502 $ 33,108 $ 822 $ 1,060 Interest cost 24,615 24,116 1,721 1,981 73,869 71,513 5,279 6,107 Expected return on plan assets (33,769) (33,029) (3,438) (3,374) (101,321) (98,972) (10,306) (10,081) Amortization of net prior period gain — — — (218) — — — (654) Amortization of net actuarial (gain)/losses 51 (16) (742) (503) 74 21 (2,130) (1,370) Net periodic pension/benefit cost (return) 2,567 2,142 (2,193) (1,734) 6,124 5,670 (6,335) (4,938) Impact of PUC D&Os 17,406 17,663 2,052 1,536 53,585 53,929 5,827 4,385 Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os) $ 19,973 $ 19,805 $ (141) $ (198) $ 59,709 $ 59,599 $ (508) $ (553)

Share-based compensation (Table

Share-based compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Compensation Expense and Related Income Tax Benefit	Share-based compensation expense and the related income tax benefit were as follows: Three months ended September 30 Nine months ended September 30 (in millions) 2024 2023 2024 2023 HEI consolidated Share-based compensation expense 1 $ 0.1 $ 2.4 $ 3.2 $ 8.3 Income tax benefit — 0.5 0.3 1.6 Hawaiian Electric consolidated Share-based compensation expense (benefit) 1 (0.1) 0.7 1.1 2.5 Income tax benefit (expense) (0.1) 0.1 0.1 0.5 1 For the three and nine months ended September 30, 2024 and 2023, the Company has not capitalized any share-based compensation.
Schedule of Common Stock Granted to Nonemployee Directors	HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows: Three months ended September 30 Nine months ended September 30 (dollars in millions) 2024 2023 2024 2023 Shares granted — — — 40,450 Fair value $ — $ — $ — $ 1.5 Income tax benefit — — — 0.4
Schedule of Restricted Stock Units	Information about HEI’s grants of restricted stock units was as follows: Three months ended September 30 Nine months ended September 30 2024 2023 2024 2023 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 89,869 $ 42.08 199,130 $ 41.22 189,024 $ 41.23 182,528 $ 39.75 Granted — — — — — — 100,088 42.41 Vested — — — — (98,084) 40.43 (81,112) 39.37 Forfeited — — — — (1,071) 41.97 (2,374) 41.79 Outstanding, end of period 89,869 $ 42.08 199,130 $ 41.22 89,869 $ 42.08 199,130 $ 41.22 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ — $ 4.2 (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: Three months ended September 30 Nine months ended September 30 2024 2023 2024 2023 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 109,262 $ 33.75 79,284 $ 50.28 76,477 $ 50.11 71,574 $ 47.67 Granted — — — — 62,152 17.28 27,123 55.98 Vested (issued or unissued and cancelled) — — — — (28,577) 41.12 (18,691) 48.62 Forfeited — — — — (790) 55.64 (722) 48.92 Outstanding, end of period 109,262 $ 33.75 79,284 $ 50.28 109,262 $ 33.75 79,284 $ 50.28 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ 1.1 $ 1.5 (1) Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of Long-Term Incentive Plan Assumptions	The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted: 2024 2023 Risk-free interest rate 4.25 % 4.19 % Expected life in years 3 3 Expected volatility 52.5 % 33.1 % Range of expected volatility for Peer Group 12.3% to 52.5% 28.7% to 38.8% Grant-date fair value (per share) $17.28 $55.98
Schedule of Long-Term Incentive Plan (LTIP) Linked to Other Performance Conditions	Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows: Three months ended September 30 Nine months ended September 30 2024 2023 2024 2023 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 561,812 $ 23.25 357,477 $ 38.78 327,085 $ 39.44 309,589 $ 39.50 Granted — — — — 362,963 13.09 108,499 42.41 Vested — — — — (113,118) 34.93 (62,778) 48.07 Increase above target (cancelled) (49,603) 41.32 4,277 38.02 (61,556) 41.52 10,278 37.77 Forfeited — — — — (3,165) 42.06 (3,834) 43.53 Outstanding, end of period 512,209 $ 21.50 361,754 $ 39.17 512,209 $ 21.50 361,754 $ 39.17 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ — $ — $ 4.8 $ 4.6 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.

Cash flows (Tables)

Cash flows (Tables)	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Disclosures of Cash and Noncash Activity	Nine months ended September 30 2024 2023 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 175 $ 104 Income taxes paid (including refundable credits) 34 28 Income taxes refunded (including refundable credits) — 1 Hawaiian Electric consolidated Interest paid to non-affiliates 59 45 Income taxes paid (including refundable credits) 53 38 Income taxes refunded (including refundable credits) — 2 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 9 9 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 33 45 Right-of-use assets obtained in exchange for finance lease obligations (financing) 108 76 Right-of-use assets obtained in exchange for operating lease obligations (investing) 4 1 Common stock issued (gross) for director and executive/management compensation (financing) 1 3 8 Obligations to fund low income housing investments (investing) — 7 Loans transferred from held for investment to held for sale (investing) 29 95 Transfer of retail repurchase agreements to deposit liabilities (financing) — 98 Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 9 9 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 33 43 Right-of-use assets obtained in exchange for finance lease obligations (financing) 107 76 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements (Tables

Fair value measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Carrying or Notional Amount, Fair Value and Placement in the Fair Value Hierarchy of the Company’s Financial Instruments	The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total September 30, 2024 Financial assets HEI consolidated Available-for-sale investment securities $ 1,084,083 $ — $ 1,070,148 $ 13,935 $ 1,084,083 Held-to-maturity investment securities 1,159,229 — 1,086,205 — 1,086,205 Stock in Federal Home Loan Bank 29,204 — 29,204 — 29,204 Loans, net 5,975,318 — 2,698 5,669,632 5,672,330 Mortgage servicing rights 7,722 — — 17,046 17,046 Derivative assets 16,991 10 792 — 802 Financial liabilities HEI consolidated Deposit liabilities - time certificates 1,064,978 — 1,058,464 — 1,058,464 Other bank borrowings 520,000 — 520,677 — 520,677 Long-term debt, net—other than bank 2,836,539 — 2,289,207 — 2,289,207 Derivative liabilities 21,867 — 116 — 116 Hawaiian Electric consolidated Long-term debt, net 1,934,980 — 1,519,620 — 1,519,620 December 31, 2023 Financial assets HEI consolidated Available-for-sale investment securities $ 1,136,439 $ — $ 1,122,081 $ 14,358 $ 1,136,439 Held-to-maturity investment securities 1,201,314 — 1,103,668 — 1,103,668 Stock in Federal Home Loan Bank 14,728 — 14,728 — 14,728 Loans, net 6,121,606 — 15,176 5,723,823 5,738,999 Mortgage servicing rights 8,169 — — 18,722 18,722 Derivative assets 16,880 — 1,058 — 1,058 Financial liabilities HEI consolidated Deposit liabilities - time certificates 1,063,907 — 1,053,101 — 1,053,101 Other bank borrowings 750,000 — 747,508 — 747,508 Long-term debt, net—other than bank 2,842,429 — 2,133,225 — 2,133,225 Derivative liabilities 28,449 18 303 — 321 Hawaiian Electric consolidated Long-term debt, net 1,934,277 — 1,385,025 — 1,385,025
Schedule of Assets Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at fair value on a recurring basis were as follows: September 30, 2024 December 31, 2023 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 $ — $ 1,028,627 $ — $ — $ 1,077,168 $ — U.S. Treasury and federal agency obligations — 7,597 — — 12,010 — Corporate bonds — 33,924 — — 32,903 — Mortgage revenue bonds — — 13,935 — — 14,358 $ — $ 1,070,148 $ 13,935 $ — $ 1,122,081 $ 14,358 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 68 $ — $ — $ 86 $ — Forward commitments (bank segment) 1 10 — — — — — Interest rate swap (Other segment) 2 — 724 — — 972 — $ 10 $ 792 $ — $ — $ 1,058 $ — Derivative liabilities Forward commitments (bank segment) 1 $ — $ — $ — $ 18 $ — $ — Interest rate swap (Other segment) 2 — 116 — — 303 — $ — $ 116 $ — $ 18 $ 303 $ — 1 Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income. 2 Derivatives are included in other assets and other liabilities in the balance sheets.
Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis	The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended September 30 Nine months ended September 30 Mortgage revenue bonds 2024 2023 2024 2023 (in thousands) Beginning balance $ 14,076 $ 14,630 $ 14,358 $ 14,902 Principal payments received (141) (136) (423) (408) Purchases — — — — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 13,935 $ 14,494 $ 13,935 $ 14,494

Basis of presentation (Details)

Basis of presentation (Details) $ in Thousands, shares in Millions	1 Months Ended	3 Months Ended						9 Months Ended
	Sep. 30, 2024 USD ($) shares	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Nov. 01, 2024 USD ($) installment	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Net losses incurred		$ 104,402	$ 1,295,484	$ (42,122)	$ (41,118)	$ (54,610)	$ (54,721)	$ 1,357,764	$ (150,449)
Wildfire tort-related claims	$ 1,915,000	1,915,000						1,915,000			$ 75,000
Cash and cash equivalents	1,159,635	1,159,635			667,129			1,159,635	667,129		679,546
Hawaiian Electric
Loss Contingencies [Line Items]
Cash and cash equivalents	677,700	677,700						677,700
Maui Windstorm and Wildfires | Natural Disasters and Other Casualty Events | Tort-Related Legal Claims | Subsequent Event
Loss Contingencies [Line Items]
Installment payments | installment										4
Hawaiian Electric Company, Inc. and Subsidiaries
Loss Contingencies [Line Items]
Net losses incurred		82,585	$ 1,229,394	$ (39,221)	(43,461)	$ (45,299)	$ (47,009)	1,272,758	(135,769)
Wildfire tort-related claims	1,920,000	1,920,000						1,920,000
Settlement accrual, current liability	478,750	478,750						478,750			75,000
Settlement accrual, non-current liabilities	$ 1,436,250	1,436,250						1,436,250			0
Sale of stock, number of shares issued (in shares) | shares	62.2
Sale of stock, received on transaction	$ 557,700
Cash and cash equivalents	147,624	$ 147,624			$ 274,854			$ 147,624	$ 274,854		$ 106,077
Hawaiian Electric Company, Inc. and Subsidiaries | Subsequent Event
Loss Contingencies [Line Items]
Settlement accrual, current liability										$ 479,000
Hawaiian Electric Company, Inc. and Subsidiaries | Over-Allotment Option
Loss Contingencies [Line Items]
Sale of stock, received on transaction	$ 250,000

Maui windstorm and wildfires -

Maui windstorm and wildfires - Narrative (Details) $ in Thousands

1 Months Ended

2 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Nov. 04, 2024 claim plaintiff

Nov. 01, 2024 USD ($) installment claim lawyer

May 04, 2024 USD ($)

Aug. 08, 2023 USD ($)

Oct. 31, 2024 USD ($)

Feb. 08, 2024 claim

Jun. 08, 2024 claim

Sep. 30, 2024 USD ($)

Sep. 30, 2023 USD ($)

Sep. 30, 2024 USD ($)

Sep. 30, 2023 USD ($)

Dec. 31, 2023 USD ($)

Jul. 15, 2024 claim

Nov. 08, 2023 USD ($)

Public Utilities, General Disclosures [Line Items]

Regulatory assets

$ (314,247)

$ (314,247)

$ (294,804)

Property insurance policy limit

$ 500,000

Retention for property damages

$ 1,000

Settlement accrual

1,915,000

1,915,000

75,000

Excess liability insurance

16,000

Miscellaneous professional liability

0

Directors and officers liability insurance

130,000

Insurance Claims, Legal-Related Recoveries

Public Utilities, General Disclosures [Line Items]

Insurance reimbursement receivable

74,000

74,000

Indemnification Agreement

Public Utilities, General Disclosures [Line Items]

Amount agreed to contribute

$ 18,400

Tort-Related Legal Claims | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Litigation settlement, fee expense accrued

3,500

3,500

Maui Wildfire Negligence | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Excess liability insurance

165,000

Miscellaneous professional liability

25,000

Excess liability insurance, retention amount

300

Miscellaneous liability insurance, retention amount

1,000

Directors and officers liability insurance

145,000

Directors and officers liability insurance, retention

1,000

Shareholder Derivative Actions, Northern District Of California

Public Utilities, General Disclosures [Line Items]

Lawsuit claim filed | claim

3

Shareholder Derivative Actions, District Of Hawaii

Public Utilities, General Disclosures [Line Items]

Lawsuit claim filed | claim

2

Subsequent Event | Tort-Related Legal Claims | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Lawsuit claim filed | claim

750

Number of settlement agreements | claim

2

Number of lawyers representing individual plaintiffs | lawyer

30

Subsequent Event | Maui Wildfire Negligence | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Number of pending claims | claim

1

Subsequent Event | Spectrum Oceanic LLC | Maui Wildfire Negligence | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Lawsuit claim filed | claim

1

Subsequent Event | Subrogation Insurers | Maui Wildfire Negligence | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Number of cases filed by subrogation insurers | plaintiff

160

Subsequent Event | County Of Maui | Maui Wildfire Negligence | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Lawsuit claim filed | claim

1

Hawaiian Electric Company, Inc. and Subsidiaries

Public Utilities, General Disclosures [Line Items]

Settlement accrual, current liability

478,750

478,750

75,000

Settlement payments reserved

500,000

Settlement accrual

1,920,000

1,920,000

Settlement accrual, non-current liabilities

1,436,250

1,436,250

0

Hawaiian Electric Company, Inc. and Subsidiaries | Insurance Claims, Legal-Related Recoveries

Public Utilities, General Disclosures [Line Items]

Insurance reimbursement receivable

69,000

69,000

Hawaiian Electric Company, Inc. and Subsidiaries | Indemnification Agreement

Public Utilities, General Disclosures [Line Items]

Settlement accrual

14,500

14,500

Hawaiian Electric Company, Inc. and Subsidiaries | Subsequent Event

Public Utilities, General Disclosures [Line Items]

Insurance recoveries

$ 700

Settlement accrual, current liability

$ 479,000

Natural Disasters and Other Casualty Events

Public Utilities, General Disclosures [Line Items]

Expected funding amount

$ 175,000

Expected beneficiary amount

$ 1,500

Number of claim forms | claim

35

Number of physical injury related claim forms | claim

12

Natural Disasters and Other Casualty Events | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Insurance recoveries

52,158

$ 75,000

83,610

$ 75,000

104,580

Natural Disasters and Other Casualty Events | Subsequent Event | Tort-Related Legal Claims | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Amount agreed to contribute

$ 1,990,000

Installment payments | installment

4

Discount rate

5.50%

Natural Disasters and Other Casualty Events | Subsequent Event | Total Defendants | Tort-Related Legal Claims | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Amount agreed to contribute

$ 4,040,000

Natural Disasters and Other Casualty Events | Hawaiian Electric Company, Inc. and Subsidiaries

Public Utilities, General Disclosures [Line Items]

Regulatory assets

(38,800)

(38,800)

Committed contribution to humanitarian fund

75,000

75,000

Natural Disasters and Other Casualty Events | Hawaiian Electric Company, Inc. and Subsidiaries | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Insurance recoveries

49,625

$ 75,000

75,973

$ 75,000

$ 98,613

Incremental expenses

1,200

8,900

Natural Disasters and Other Casualty Events | Hawaiian Electric Company, Inc. and Subsidiaries | Tort-Related Legal Claims | Maui Windstorm and Wildfires

Public Utilities, General Disclosures [Line Items]

Insurance receivable

$ 40,000

$ 40,000

Natural Disasters and Other Casualty Events | Hawaiian Electric Company, Inc. and Subsidiaries | Subsequent Event

Public Utilities, General Disclosures [Line Items]

Committed contribution to humanitarian fund

$ 75,000

Maui windstorm and wildfires _2

Maui windstorm and wildfires - Utilities Charged (Details) - Natural Disasters and Other Casualty Events - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Maui Windstorm and Wildfires
Public Utilities, General Disclosures [Line Items]
Total Maui windstorm and wildfires related expenses	$ 236,396	$ 102,582	$ 2,014,809	$ 102,582	$ 138,383
Insurance recovery	(52,158)	(75,000)	(83,610)	(75,000)	(104,580)
Deferral treatment approved by the PUC	(8,589)	0	(24,143)	0	(14,692)
Total Maui windstorm and wildfires related expenses, net of insurance recoveries and approved deferral treatment	175,649	27,582	1,907,056	27,582	19,111
Legal expenses
Public Utilities, General Disclosures [Line Items]
Total Maui windstorm and wildfires related expenses	17,963	10,751	57,990	10,751	34,876
Wildfire tort-related claims
Public Utilities, General Disclosures [Line Items]
Total Maui windstorm and wildfires related expenses	203,000	75,000	1,915,000	75,000	75,000
Other expense
Public Utilities, General Disclosures [Line Items]
Total Maui windstorm and wildfires related expenses	15,433	16,831	41,819	16,831	28,507
Hawaiian Electric Company, Inc. and Subsidiaries | Maui Windstorm and Wildfires
Public Utilities, General Disclosures [Line Items]
Total Maui windstorm and wildfires related expenses	228,250	88,942	1,991,692	88,942	114,808
Insurance recovery	(49,625)	(75,000)	(75,973)	(75,000)	(98,613)
Deferral treatment approved by the PUC	(8,589)	0	(24,143)	0	(14,692)
Total Maui windstorm and wildfires related expenses, net of insurance recoveries and approved deferral treatment	170,036	13,942	1,891,576	13,942	1,503
Hawaiian Electric Company, Inc. and Subsidiaries | Legal expenses
Public Utilities, General Disclosures [Line Items]
Total Maui windstorm and wildfires related expenses	11,821	6,251	40,169	6,251	24,737
Hawaiian Electric Company, Inc. and Subsidiaries | Wildfire tort-related claims
Public Utilities, General Disclosures [Line Items]
Total Maui windstorm and wildfires related expenses	203,000	75,000	1,915,000	75,000	75,000
Hawaiian Electric Company, Inc. and Subsidiaries | Other expense
Public Utilities, General Disclosures [Line Items]
Total Maui windstorm and wildfires related expenses	$ 13,429	$ 7,691	$ 36,523	$ 7,691	$ 15,071

Segment financial information -

Segment financial information - Segment Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment financial information
Revenues	$ 938,383			$ 901,873			$ 2,732,901	$ 2,725,795
Income (loss) before income taxes	(149,234)			49,110			(1,837,245)	188,781
Income taxes (benefit)	(45,303)			7,521			(480,898)	36,915
Net income (loss)	(103,931)			41,589			(1,356,347)	151,866
Preferred stock dividends of Hawaiian Electric	471			471			1,417	1,417
Net income (loss) for common stock	(104,402)	$ (1,295,484)	$ 42,122	41,118	$ 54,610	$ 54,721	(1,357,764)	150,449
Total assets	17,731,228						17,731,228		$ 17,243,821
Electric utility
Segment financial information
Revenues	829,617			794,987			2,410,526	2,419,539
Income (loss) before income taxes	(117,526)			55,415			(1,725,279)	175,391
Income taxes (benefit)	(35,439)			11,456			(454,017)	38,126
Net income (loss)	(82,087)			43,959			(1,271,262)	137,265
Preferred stock dividends of Hawaiian Electric	498			498			1,496	1,496
Net income (loss) for common stock	(82,585)			43,461			(1,272,758)	135,769
Total assets	7,563,204						7,563,204		7,283,554
Bank
Segment financial information
Revenues	105,144			100,974			312,231	291,716
Income (loss) before income taxes	23,429			12,749			(7,864)	61,511
Income taxes (benefit)	4,651			1,384			(1,789)	11,380
Net income (loss)	18,778			11,365			(6,075)	50,131
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income (loss) for common stock	18,778			11,365			(6,075)	50,131
Total assets	9,267,846						9,267,846		9,673,192
Other
Segment financial information
Revenues	3,622			5,912			10,144	14,540
Income (loss) before income taxes	(55,137)			(19,054)			(104,102)	(48,121)
Income taxes (benefit)	(14,515)			(5,319)			(25,092)	(12,591)
Net income (loss)	(40,622)			(13,735)			(79,010)	(35,530)
Preferred stock dividends of Hawaiian Electric	(27)			(27)			(79)	(79)
Net income (loss) for common stock	(40,595)			$ (13,708)			(78,931)	$ (35,451)
Total assets	$ 900,178						$ 900,178		$ 287,075

Segment financial information_2

Segment financial information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Segment Reporting [Abstract]
Impairment charges	$ 35.2	$ 35.2
Accrued interest		$ 9.6

Electric utility segment - Cons

Electric utility segment - Consolidated Variable Interest Entities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Accounts receivable and unbilled revenues, net	$ 526,717	$ 575,176
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Accounts receivable and unbilled revenues, net	$ 325,100

Electric utility segment - Unco

Electric utility segment - Unconsolidated Variable Interest Entities (Details)	9 Months Ended
	Sep. 30, 2024 agreement entity
Power purchase agreement
Number of IPPs (in entities) | entity	2
Hawaiian Electric Company
Power purchase agreement
Number of power purchase agreements (PPAs) (in agreements) | agreement	4

Electric utility segment - Comm

Electric utility segment - Commitments and contingencies (Details) $ in Thousands					1 Months Ended			9 Months Ended	12 Months Ended
	Jun. 07, 2024 USD ($) MW	May 31, 2024 USD ($) MW	Mar. 28, 2024 USD ($) MW	Nov. 16, 2023 defendant	Jan. 31, 2024	Jul. 31, 2018 MW	May 31, 2012 MW	Sep. 30, 2024 USD ($) agreement MW	Dec. 31, 2022 USD ($)	Dec. 31, 2019 agreement	Dec. 31, 2023 USD ($)
Long-term Purchase Commitment [Line Items]
Finance lease liabilities								$ 441,089			$ 339,040
Operating lease right-of-use assets								$ 84,645			94,905
Environmental loss contingency, statement of financial position, not disclosed								reserve account balance
Purchase obligation											1,700,000
Maui Electric
Long-term Purchase Commitment [Line Items]
Additional accrued investigation and estimated cleanup costs								$ 2,500
Hawaiian Electric, Parent | PCB Contamination
Long-term Purchase Commitment [Line Items]
Valuation allowances and reserves								9,500
Hawaiian Electric Company, Inc. and Subsidiaries
Long-term Purchase Commitment [Line Items]
Operating lease right-of-use assets								61,007			$ 71,877
Notice period, pre-cursor to citizen's suit					60 days
Number of power purchase agreements (PPAs) (in agreements) | agreement										7
Hu Honua Bioenergy, LLC
Long-term Purchase Commitment [Line Items]
Minimum power volume required (in megawatts) | MW							21.5
Number of defendants | defendant				3
Molokai New Energy Partners
Long-term Purchase Commitment [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
James Campbell Company | Hawaiian Electric, Parent | Kapolei Petroleum Contamination
Long-term Purchase Commitment [Line Items]
Environmental remediation expense									$ 1,400
AES Hawaii | Hawaiian Electric Company, Inc. and Subsidiaries
Long-term Purchase Commitment [Line Items]
Minimum power volume required (in megawatts) | MW	42	60	12.5
Total contracted PV capacity (in megawatts) | MW	168	240	50
Annual payment	$ 11,500	$ 13,200	$ 3,200
Finance lease liabilities								107,400
Operating lease right-of-use assets								$ 107,400
Stage 1 And 2 Renewable PPAs | Hawaiian Electric Company, Inc. and Subsidiaries
Long-term Purchase Commitment [Line Items]
Minimum power volume required (in megawatts) | MW								114.5
Total contracted PV capacity (in megawatts) | MW								458
Number of power purchase agreements (PPAs) (in agreements) | agreement								3

Electric utility segment - Purc

Electric utility segment - Purchases from IPPs (Details) - Hawaiian Electric, Parent - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	$ 189	$ 178	$ 530	$ 499
Kalaeloa
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	74	77	219	211
HPOWER
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	20	17	53	51
Puna Geothermal Venture
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	15	7	42	24
Hamakua Energy
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	9	13	25	52
Kapolei Energy Storage
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	6	0	18	0
Wind IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	37	42	104	99
Solar IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	26	21	62	57
Other IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	$ 2	$ 1	$ 7	$ 5

Electric utility segment - Util

Electric utility segment - Utility Projects (Details) $ in Millions		1 Months Ended	9 Months Ended
	Jan. 31, 2024 USD ($)	Sep. 30, 2020 MW	Sep. 30, 2024 USD ($)	Aug. 07, 2024 USD ($)	Dec. 31, 2023 USD ($)	Nov. 30, 2021 USD ($)	Oct. 31, 2020 transmission_line generationUnit kV
Hawaiian Electric Company, Inc. and Subsidiaries
Public Utilities, General Disclosures [Line Items]
Public utilities, project cost recovery cap				$ 95
Project costs incurred			$ 3.7
Waena Switchyard/Synchronous Condenser Project | Hawaiian Electric Company, Inc. and Subsidiaries
Public Utilities, General Disclosures [Line Items]
Number of extended transmission lines | transmission_line							2
Number of kilovolts | kV							69
Number of generating units converting to synchronous condensers | generationUnit							2
Renewable energy generation project, approved funds						$ 38.8
Renewable energy generation project, incurred cost			25.5
Waena Battery Energy Storage System Project
Public Utilities, General Disclosures [Line Items]
Total contracted battery energy storage system capacity | MW		40
Waena Battery Energy Storage System Project | Hawaiian Electric Company, Inc. and Subsidiaries
Public Utilities, General Disclosures [Line Items]
Renewable energy generation project, approved funds					$ 82.1
Renewable energy generation project, incurred cost			$ 0.7
Climate Adaptation Transmission And Distribution Resilience Program | Hawaiian Electric Company, Inc. and Subsidiaries
Public Utilities, General Disclosures [Line Items]
Public utilities, electric grid project, approved funds	$ 189.7
Project period	5 years

Electric utility segment - Regu

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

9 Months Ended

12 Months Ended

Dec. 29, 2023 USD ($)

Dec. 23, 2020 USD ($)

Sep. 30, 2024 USD ($) MWh project

Dec. 31, 2023 USD ($)

Dec. 31, 2019 USD ($) agreement

Jun. 30, 2024 USD ($)

Mar. 31, 2024 USD ($) agreement

Mar. 11, 2024 USD ($)

Jun. 30, 2023 USD ($)

Jun. 17, 2022 mechanism

Jun. 10, 2019 USD ($)

Oct. 31, 2018 USD ($)

Regulatory Projects and Legal Obligations [Line Items]

PUC proposal period (in days)

45 days

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

15 days

Propose pilots annual cap

$ 10,000

Performance incentive mechanism, accrued award

$ 10

Potential total annual maximum reward

2,000

Regulatory assets

$ 314,247

$ 294,804

Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

Number of performance incentive mechanisms | mechanism

2

Multi-year rate period (in years)

5 years

Customer dividend, negative adjustment percentage

0.22%

Savings commitment liability, annual rate

$ 6,600

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

3%

Approved return on equity, percentage

9.50%

Percentage sharing between customers and utilities

0.50

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

1.50%

Percentage sharing for any further difference

0.90

MPIR and EPRM requested amount

$ 38,000

EPRM approved projects | project

4

EPRM approved projects, capital costs

$ 218,500

Number of projects | project

2

Estimated capital costs

$ 294,200

Prior year deferred cost recovery approved

$ 3,000

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

10 years

Maximum penalty, percent of ROE

0.20%

Service reliability, pending adjusted maximum penalty amount

$ 6,400

Service reliability, estimated penalties

3,700

Dead band percentage above or below the target

3%

Call center performance, maximum penalty percentage

0.08%

Call center performance, pending adjusted maximum penalty

$ 1,400

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

7

Number of incentive earned power purchase agreements | agreement

2

Incentives accrued

100

$ 1,700

$ 100

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

20

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

15

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

10

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

20

Accrued estimated rewards

400

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

1,100

Potential total annual maximum reward

$ 3,000

Total annual maximum penalty

900

Interconnection approval PIM, accrued estimated rewards

3,000

Performance incentive mechanism, maximum reward

$ 2,000

Target performance historical measurement period (in years)

10 years

Percent of return on equity

0.03%

Pending adjusted amount

$ 1,000

Target performance period (in months)

10 months

Target deadband period (in months)

2 months

Accrued earned rewards, net of penalties

900

Recovery of deferral costs period (in years)

3 years

Hawaiian Electric Company, Inc. and Subsidiaries | Honolulu Generating Units 8 and 9

Regulatory Projects and Legal Obligations [Line Items]

Regulatory asset amortization period

9 years

Regulatory assets

$ 27,500

Hawaiian Electric Company, Inc. and Subsidiaries | Suspension Of Disconnections

Regulatory Projects and Legal Obligations [Line Items]

Regulatory assets

2,300

Hawaiian Electric Company, Inc. and Subsidiaries | Natural Disasters and Other Casualty Events

Regulatory Projects and Legal Obligations [Line Items]

Regulatory assets

38,800

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

Regulatory Projects and Legal Obligations [Line Items]

Public utilities in regulatory assets

$ 8,800

Regulatory assets

$ 7,500

Hawaiian Electric, Parent

Regulatory Projects and Legal Obligations [Line Items]

Public utilities retained percentage

20%

Accrued earned rewards, net of penalties

1,200

Hawaii Electric Light Company, Inc

Regulatory Projects and Legal Obligations [Line Items]

Incentives accrued

$ 100

Accrued earned rewards, net of penalties

(600)

Maui Electric

Regulatory Projects and Legal Obligations [Line Items]

Accrued earned rewards, net of penalties

$ 300

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

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

$ 16,100

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

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

3,200

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

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

16,100

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

Regulatory Projects and Legal Obligations [Line Items]

EPRM requested amount

$ 100

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

Regulatory Projects and Legal Obligations [Line Items]

ERP/EAM project service period (in years)

12 years

ERP/EAM project service, savings over 12 years

$ 246,000

Future O&M expense reductions

$ 150,000

Future cost avoidance related to capital cost and tax costs

$ 96,000

Regulatory liability, amortization period (in years)

5 years

Regulatory liability for O&M expense reductions

$ 12,800

ERP/EAM Implementation Project | Hawaiian Electric, Parent

Regulatory Projects and Legal Obligations [Line Items]

Regulatory liability for O&M expense reductions

1,500

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

Regulatory Projects and Legal Obligations [Line Items]

Regulatory liability for O&M expense reductions

4,500

ERP/EAM Implementation Project | Maui Electric

Regulatory Projects and Legal Obligations [Line Items]

Regulatory liability for O&M expense reductions

6,800

Waena Switchyard/Synchronous Project | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

EPRM requested amount

$ 2,500

Electric utility segment - Annu

Electric utility segment - Annual Decoupling Filings Summary (Details) - USD ($) $ in Millions		9 Months Ended
	Oct. 28, 2024	Sep. 30, 2024
Regulatory Projects and Legal Obligations [Line Items]
2025 ARA revenues		$ 22.9
Annual change in accrued RBA balance through September 30, 2024 (and associated revenue taxes)		(1.9)
Incremental PIMs (net)		0
Net incremental amount to be collected under the RBA rate tariffs		21
Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2025 ARA revenues	$ 22.9
Management Audit savings commitment	(6.6)
Net 2025 ARA revenues	16.3
Hawaiian Electric, Parent
Regulatory Projects and Legal Obligations [Line Items]
2025 ARA revenues		15.4
Annual change in accrued RBA balance through September 30, 2024 (and associated revenue taxes)		(7)
Incremental PIMs (net)		(0.1)
Net incremental amount to be collected under the RBA rate tariffs		8.3
Hawaiian Electric, Parent | Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2025 ARA revenues	15.4
Management Audit savings commitment	(4.6)
Net 2025 ARA revenues	10.8
Hawaii Electric Light
Regulatory Projects and Legal Obligations [Line Items]
2025 ARA revenues		3.8
Annual change in accrued RBA balance through September 30, 2024 (and associated revenue taxes)		(1.3)
Incremental PIMs (net)		0.1
Net incremental amount to be collected under the RBA rate tariffs		2.6
Hawaii Electric Light | Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2025 ARA revenues	3.8
Management Audit savings commitment	(1)
Net 2025 ARA revenues	2.8
Maui Electric
Regulatory Projects and Legal Obligations [Line Items]
2025 ARA revenues		3.7
Annual change in accrued RBA balance through September 30, 2024 (and associated revenue taxes)		6.4
Incremental PIMs (net)		0
Net incremental amount to be collected under the RBA rate tariffs		$ 10.1
Maui Electric | Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2025 ARA revenues	3.7
Management Audit savings commitment	(1)
Net 2025 ARA revenues	$ 2.7

Electric utility segment - Cond

Electric utility segment - Condensed Consolidating Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Condensed Income Statements, Captions [Line Items]
Revenues	$ 938,383			$ 901,873			$ 2,732,901	$ 2,725,795
Expenses
Total expenses	1,064,931			826,762			4,502,005	2,464,187
Total operating income (loss)	(126,548)			75,111			(1,769,104)	261,608
Allowance for equity funds used during construction	3,300			4,000			10,276	11,073
Retirement defined benefits credit (expense)—other than service costs	1,106			1,256			3,669	3,561
Allowance for borrowed funds used during construction	1,331			1,372			4,061	3,798
Interest income	3,662			0			9,929	0
Income (loss) before income taxes	(149,234)			49,110			(1,837,245)	188,781
Income tax expense (benefit)	(45,303)			7,521			(480,898)	36,915
Net income (loss)	(103,931)			41,589			(1,356,347)	151,866
Preferred stock dividends of Hawaiian Electric	471			471			1,417	1,417
Net income (loss) for common stock	(104,402)	$ (1,295,484)	$ 42,122	41,118	$ 54,610	$ 54,721	(1,357,764)	150,449
Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	829,617			794,987			2,410,526	2,419,539
Expenses
Fuel oil	279,038			267,438			821,986	881,692
Purchased power	189,165			177,795			530,310	498,990
Other operation and maintenance	162,197			142,508			453,648	407,184
Wildfire tort-related claims	163,000			0			1,875,000	0
Depreciation	62,812			61,165			188,436	182,781
Taxes, other than income taxes	77,969			74,723			226,795	228,034
Total expenses	934,181			723,629			4,096,175	2,198,681
Total operating income (loss)	(104,564)			71,358			(1,685,649)	220,858
Allowance for equity funds used during construction	3,300			4,000			10,276	11,073
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit (expense)—other than service costs	959			1,132			3,103	3,227
Interest expense and other charges, net	(20,223)			(22,447)			(61,625)	(63,565)
Allowance for borrowed funds used during construction	1,331			1,372			4,061	3,798
Interest income	1,671			0			4,555	0
Income (loss) before income taxes	(117,526)			55,415			(1,725,279)	175,391
Income tax expense (benefit)	(35,439)			11,456			(454,017)	38,126
Net income (loss)	(82,087)			43,959			(1,271,262)	137,265
Preferred stock dividends of subsidiaries	228			228			686	686
Net income (loss)	(82,315)			43,731			(1,271,948)	136,579
Preferred stock dividends of Hawaiian Electric	270			270			810	810
Net income (loss) for common stock	(82,585)	$ (1,229,394)	$ 39,221	43,461	$ 45,299	$ 47,009	(1,272,758)	135,769
Reportable Legal Entities | Hawaiian Electric Consolidated
Expenses
Interest income							4,555
Consolidating adjustments | Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	(2,647)			0			(2,647)	(130)
Expenses
Fuel oil	0			0			0	0
Purchased power	0			0			0	0
Other operation and maintenance	(2,647)			0			(2,647)	0
Wildfire tort-related claims	0						0
Depreciation	0			0			0	0
Taxes, other than income taxes	0			0			0	0
Total expenses	(2,647)			0			(2,647)	0
Total operating income (loss)	0			0			0	(130)
Allowance for equity funds used during construction	0			0			0	0
Equity in earnings of subsidiaries	18,558			(3,005)			258,633	(25,960)
Retirement defined benefits credit (expense)—other than service costs	0			0			0	0
Interest expense and other charges, net	1,731			0			5,016	130
Allowance for borrowed funds used during construction	0			0			0	0
Interest income	(1,731)						(5,016)
Income (loss) before income taxes	18,558			(3,005)			258,633	(25,960)
Income tax expense (benefit)	0			0			0	0
Net income (loss)	18,558			(3,005)			258,633	(25,960)
Preferred stock dividends of subsidiaries	0			0			0	0
Net income (loss)	18,558			(3,005)			258,633	(25,960)
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income (loss) for common stock	18,558			(3,005)			258,633	(25,960)
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	592,784			570,323			1,721,592	1,742,542
Expenses
Fuel oil	207,498			196,223			605,083	663,521
Purchased power	135,645			132,536			390,302	362,275
Other operation and maintenance	105,977			83,528			290,578	255,728
Wildfire tort-related claims	130,400						1,500,000
Depreciation	42,004			41,276			126,011	123,114
Taxes, other than income taxes	55,787			53,511			162,410	164,510
Total expenses	677,311			507,074			3,074,384	1,569,148
Total operating income (loss)	(84,527)			63,249			(1,352,792)	173,394
Allowance for equity funds used during construction	2,628			3,005			8,027	8,604
Equity in earnings of subsidiaries	(18,558)			3,005			(258,633)	25,960
Retirement defined benefits credit (expense)—other than service costs	826			992			2,681	2,801
Interest expense and other charges, net	(14,870)			(16,295)			(44,879)	(45,594)
Allowance for borrowed funds used during construction	1,055			1,047			3,168	2,995
Interest income	2,971						8,606
Income (loss) before income taxes	(110,475)			55,003			(1,633,822)	168,160
Income tax expense (benefit)	(28,160)			11,272			(361,874)	31,581
Net income (loss)	(82,315)			43,731			(1,271,948)	136,579
Preferred stock dividends of subsidiaries	0			0			0	0
Net income (loss)	(82,315)			43,731			(1,271,948)	136,579
Preferred stock dividends of Hawaiian Electric	270			270			810	810
Net income (loss) for common stock	(82,585)			43,461			(1,272,758)	135,769
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	123,238			116,192			358,510	343,554
Expenses
Fuel oil	31,464			30,956			91,590	79,187
Purchased power	35,291			30,265			98,415	101,597
Other operation and maintenance	25,614			21,351			74,748	64,367
Wildfire tort-related claims	16,300						187,500
Depreciation	10,964			10,635			32,892	31,906
Taxes, other than income taxes	11,511			10,857			33,411	31,983
Total expenses	131,144			104,064			518,556	309,040
Total operating income (loss)	(7,906)			12,128			(160,046)	34,514
Allowance for equity funds used during construction	256			366			893	1,004
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit (expense)—other than service costs	162			163			498	500
Interest expense and other charges, net	(2,760)			(2,988)			(8,648)	(8,794)
Allowance for borrowed funds used during construction	75			117			267	321
Interest income	324						720
Income (loss) before income taxes	(9,849)			9,786			(166,316)	27,545
Income tax expense (benefit)	(2,807)			2,234			(43,636)	6,261
Net income (loss)	(7,042)			7,552			(122,680)	21,284
Preferred stock dividends of subsidiaries	133			133			400	400
Net income (loss)	(7,175)			7,419			(123,080)	20,884
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income (loss) for common stock	(7,175)			7,419			(123,080)	20,884
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	113,840			108,472			330,669	333,573
Expenses
Fuel oil	40,076			40,259			125,313	138,984
Purchased power	18,229			14,994			41,593	35,118
Other operation and maintenance	32,769			37,629			90,485	87,089
Wildfire tort-related claims	16,300						187,500
Depreciation	9,844			9,254			29,533	27,761
Taxes, other than income taxes	10,671			10,355			30,974	31,541
Total expenses	127,889			112,491			505,398	320,493
Total operating income (loss)	(14,049)			(4,019)			(174,729)	13,080
Allowance for equity funds used during construction	416			629			1,356	1,465
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit (expense)—other than service costs	(29)			(23)			(76)	(74)
Interest expense and other charges, net	(4,324)			(3,164)			(13,114)	(9,307)
Allowance for borrowed funds used during construction	201			208			626	482
Interest income	107						245
Income (loss) before income taxes	(17,678)			(6,369)			(185,692)	5,646
Income tax expense (benefit)	(4,966)			(2,050)			(49,001)	284
Net income (loss)	(12,712)			(4,319)			(136,691)	5,362
Preferred stock dividends of subsidiaries	95			95			286	286
Net income (loss)	(12,807)			(4,414)			(136,977)	5,076
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income (loss) for common stock	(12,807)			(4,414)			(136,977)	5,076
Other subsidiaries | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	2,402			0			2,402	0
Expenses
Fuel oil	0			0			0	0
Purchased power	0			0			0	0
Other operation and maintenance	484			0			484	0
Wildfire tort-related claims	0						0
Depreciation	0			0			0	0
Taxes, other than income taxes	0			0			0	0
Total expenses	484			0			484	0
Total operating income (loss)	1,918			0			1,918	0
Allowance for equity funds used during construction	0			0			0	0
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit (expense)—other than service costs	0			0			0	0
Interest expense and other charges, net	0			0			0	0
Allowance for borrowed funds used during construction	0			0			0	0
Interest income	0
Income (loss) before income taxes	1,918			0			1,918	0
Income tax expense (benefit)	494			0			494	0
Net income (loss)	1,424			0			1,424	0
Preferred stock dividends of subsidiaries	0			0			0	0
Net income (loss)	1,424			0			1,424	0
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income (loss) for common stock	$ 1,424			$ 0			1,424	$ 0
Other subsidiaries | Consolidating adjustments | Hawaiian Electric Consolidated
Expenses
Interest income							$ 0

Electric utility segment - Co_2

Electric utility segment - Condensed Consolidating Statement of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	$ (104,402)	$ (1,295,484)	$ 42,122	$ 41,118	$ 54,610	$ 54,721	$ (1,357,764)	$ 150,449
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes of $(431), $(153), $(740) and $(397), respectively	(1,244)			(446)			(2,138)	(1,160)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	1,333			470			2,251	1,321
Other comprehensive income (loss), net of taxes	39,360	1,594	(9,801)	(34,875)	(7,609)	20,488	31,153	(21,996)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(65,042)			6,243			(1,326,611)	128,453
Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	(82,585)	(1,229,394)	39,221	43,461	45,299	47,009	(1,272,758)	135,769
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes of $(431), $(153), $(740) and $(397), respectively	(1,331)			(547)			(2,344)	(1,487)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	1,333			470			2,251	1,321
Other comprehensive income (loss), net of taxes	2	$ (46)	$ (49)	(77)	$ (44)	$ (45)	(93)	(166)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(82,583)			43,384			(1,272,851)	135,603
Consolidating adjustments | Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	18,558			(3,005)			258,633	(25,960)
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes of $(431), $(153), $(740) and $(397), respectively	111			126			304	366
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(106)			(117)			(275)	(334)
Other comprehensive income (loss), net of taxes	5			9			29	32
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	18,563			(2,996)			258,662	(25,928)
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	(82,585)			43,461			(1,272,758)	135,769
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes of $(431), $(153), $(740) and $(397), respectively	(1,331)			(547)			(2,344)	(1,487)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	1,333			470			2,251	1,321
Other comprehensive income (loss), net of taxes	2			(77)			(93)	(166)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(82,583)			43,384			(1,272,851)	135,603
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	(7,175)			7,419			(123,080)	20,884
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes of $(431), $(153), $(740) and $(397), respectively	(40)			(55)			(117)	(166)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	42			54			112	157
Other comprehensive income (loss), net of taxes	2			(1)			(5)	(9)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(7,173)			7,418			(123,085)	20,875
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	(12,807)			(4,414)			(136,977)	5,076
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes of $(431), $(153), $(740) and $(397), respectively	(71)			(71)			(187)	(200)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	64			63			163	177
Other comprehensive income (loss), net of taxes	(7)			(8)			(24)	(23)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(12,814)			(4,422)			(137,001)	5,053
Other subsidiaries | Reportable Legal Entities | Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income (loss) for common stock	1,424			0			1,424	0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net gains recognized during the period in net periodic benefit cost, net of taxes of $(431), $(153), $(740) and $(397), respectively	0			0			0	0
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	0			0			0	0
Other comprehensive income (loss), net of taxes	0			0			0	0
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ 1,424			$ 0			$ 1,424	$ 0

Electric utility segment - Co_3

Electric utility segment - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Utility property, plant and equipment
Total property, plant and equipment, net	$ 6,296,088			$ 6,150,126
Current assets
Cash and cash equivalents	1,159,635			679,546	$ 667,129
Restricted cash	13,645			15,028	15,164
Other long-term assets
Operating lease right-of-use assets	84,645			94,905
Total assets	17,731,228			17,243,821
Capitalization
Common stock equity	1,577,041	$ 1,085,273	$ 2,377,380	2,344,841	2,224,354	$ 2,249,377	$ 2,237,955	$ 2,202,499
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293			34,293
Current liabilities
Interest and dividends payable	50,076			51,206
Deferred credits and other liabilities
Deferred income taxes	0			297,954
Total liabilities and shareholders’ equity	17,731,228			17,243,821
Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	52,019			52,098
Plant and equipment	8,413,151			8,232,810
Financing lease right-of-use assets	449,572			342,174
Less accumulated depreciation	(3,323,190)			(3,197,514)
Construction in progress	346,673			320,223
Utility property, plant and equipment, net	5,938,225			5,749,791
Nonutility property, plant and equipment, less accumulated depreciation	6,939			6,942
Total property, plant and equipment, net	5,945,164			5,756,733
Investment in wholly owned subsidiaries, at equity	0			0
Current assets
Cash and cash equivalents	147,624			106,077	274,854
Restricted cash	2,000			2,000	2,000
Advances to affiliates	0			0
Customer accounts receivable, net	207,953			244,309
Accrued unbilled revenues, net	199,657			185,644
Other accounts receivable, net	85,488			111,519
Fuel oil stock, at average cost	109,043			148,237
Materials and supplies, at average cost	114,054			114,433
Prepayments and other	94,823			58,491
Regulatory assets	59,836			68,453
Total current assets	1,020,478			1,039,163
Other long-term assets
Operating lease right-of-use assets	61,007			71,877
Regulatory assets	254,411			226,351
Other	282,144			189,430
Total other long-term assets	597,562			487,658
Total assets	7,563,204			7,283,554
Capitalization
Common stock equity	1,110,259	$ 1,192,842	$ 2,435,282	2,409,110	2,383,023	$ 2,371,889	$ 2,358,884	2,344,170
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293			34,293
Long-term debt, net	1,888,003			1,934,277
Total capitalization	3,032,555			4,377,680
Current liabilities
Current portion of operating lease liabilities	15,411			16,617
Current portion of long-term debt	46,977			0
Accounts payable	202,427			191,040
Interest and dividends payable	29,817			22,882
Taxes accrued, including revenue taxes	261,653			291,942
Regulatory liabilities	25,684			36,559
Wildfire tort-related claims (Note 2)	478,750			75,000
Other	113,695			96,436
Total current liabilities	1,174,414			730,476
Deferred credits and other liabilities
Operating lease liabilities	51,096			62,098
Finance lease liabilities	430,923			330,978
Deferred income taxes	0			399,001
Regulatory liabilities	1,165,415			1,114,131
Unamortized tax credits	78,206			84,312
Defined benefit pension and other postretirement benefit plans liability	60,881			60,671
Wildfire tort-related claims (Note 2)	1,436,250			0
Other	133,464			124,207
Total deferred credits and other liabilities	3,356,235			2,175,398
Total liabilities and shareholders’ equity	7,563,204			7,283,554
Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings from non-affiliates	0			0
Consolidating adjustments | Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	0			0
Plant and equipment	0			0
Financing lease right-of-use assets	0			0
Less accumulated depreciation	0			0
Construction in progress	0			0
Utility property, plant and equipment, net	0			0
Nonutility property, plant and equipment, less accumulated depreciation	0			0
Total property, plant and equipment, net	0			0
Investment in wholly owned subsidiaries, at equity	(669,450)			(722,211)
Current assets
Cash and cash equivalents	0			0	0
Restricted cash	0			0	0
Advances to affiliates	(46,200)			(70,500)
Customer accounts receivable, net	0			0
Accrued unbilled revenues, net	0			0
Other accounts receivable, net	(223,945)			(77,480)
Fuel oil stock, at average cost	0			0
Materials and supplies, at average cost	0			0
Prepayments and other	(1,718)			(1,638)
Regulatory assets	0			0
Total current assets	(271,863)			(149,618)
Other long-term assets
Operating lease right-of-use assets	0			0
Regulatory assets	0			0
Other	(40,584)			(14,171)
Total other long-term assets	(40,584)			(14,171)
Total assets	(981,897)			(886,000)
Capitalization
Common stock equity	(669,450)			(722,211)	(703,311)			(701,833)
Preferred stock of subsidiaries - not subject to mandatory redemption	0			0
Long-term debt, net	0			0
Total capitalization	(669,450)			(722,211)
Current liabilities
Current portion of operating lease liabilities	0			0
Current portion of long-term debt	0
Accounts payable	0			0
Interest and dividends payable	(537)			(375)
Taxes accrued, including revenue taxes	(1,718)			(1,638)
Regulatory liabilities	0			0
Wildfire tort-related claims (Note 2)	0			0
Other	(223,408)			(77,105)
Total current liabilities	(271,863)			(149,618)
Deferred credits and other liabilities
Operating lease liabilities	0			0
Finance lease liabilities	0			0
Deferred income taxes	(25,558)			0
Regulatory liabilities	0			0
Unamortized tax credits	0			0
Defined benefit pension and other postretirement benefit plans liability	(15,026)			(14,171)
Wildfire tort-related claims (Note 2)	0
Other	0			0
Total deferred credits and other liabilities	(40,584)			(14,171)
Total liabilities and shareholders’ equity	(981,897)			(886,000)
Consolidating adjustments | Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings from non-affiliates	(46,200)			(70,500)
Hawaiian Electric
Current assets
Cash and cash equivalents	677,700
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	42,860			42,859
Plant and equipment	5,503,512			5,398,281
Financing lease right-of-use assets	362,741			306,099
Less accumulated depreciation	(2,028,302)			(1,925,660)
Construction in progress	276,525			247,836
Utility property, plant and equipment, net	4,157,336			4,069,415
Nonutility property, plant and equipment, less accumulated depreciation	5,292			5,295
Total property, plant and equipment, net	4,162,628			4,074,710
Investment in wholly owned subsidiaries, at equity	669,450			722,211
Current assets
Cash and cash equivalents	99,392			89,755	233,518
Restricted cash	2,000			2,000	2,000
Advances to affiliates	46,200			70,500
Customer accounts receivable, net	32,405			172,747
Accrued unbilled revenues, net	23,595			136,367
Other accounts receivable, net	193,771			143,160
Fuel oil stock, at average cost	79,736			108,228
Materials and supplies, at average cost	66,289			64,334
Prepayments and other	70,526			40,767
Regulatory assets	46,579			58,920
Total current assets	660,493			886,778
Other long-term assets
Operating lease right-of-use assets	31,134			34,856
Regulatory assets	207,572			189,417
Other	250,162			134,033
Total other long-term assets	488,868			358,306
Total assets	5,981,439			6,042,005
Capitalization
Common stock equity	1,110,259			2,409,110	2,383,023			2,344,170
Preferred stock of subsidiaries - not subject to mandatory redemption	22,293			22,293
Long-term debt, net	1,387,029			1,426,516
Total capitalization	2,519,581			3,857,919
Current liabilities
Current portion of operating lease liabilities	5,183			6,788
Current portion of long-term debt	39,980
Accounts payable	141,147			136,102
Interest and dividends payable	22,194			17,085
Taxes accrued, including revenue taxes	187,756			211,840
Regulatory liabilities	10,887			20,013
Wildfire tort-related claims (Note 2)	383,000			75,000
Other	91,572			90,131
Total current liabilities	881,719			556,959
Deferred credits and other liabilities
Operating lease liabilities	30,785			34,262
Finance lease liabilities	346,344			295,935
Deferred income taxes	0			280,029
Regulatory liabilities	839,392			803,404
Unamortized tax credits	56,219			61,130
Defined benefit pension and other postretirement benefit plans liability	75,907			74,842
Wildfire tort-related claims (Note 2)	1,149,000
Other	82,492			77,525
Total deferred credits and other liabilities	2,580,139			1,627,127
Total liabilities and shareholders’ equity	5,981,439			6,042,005
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings from non-affiliates	0			0
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	5,645			5,645
Plant and equipment	1,494,982			1,459,639
Financing lease right-of-use assets	36,074			36,075
Less accumulated depreciation	(685,469)			(666,581)
Construction in progress	27,878			33,488
Utility property, plant and equipment, net	879,110			868,266
Nonutility property, plant and equipment, less accumulated depreciation	115			115
Total property, plant and equipment, net	879,225			868,381
Investment in wholly owned subsidiaries, at equity	0			0
Current assets
Cash and cash equivalents	25,734			10,658	32,716
Restricted cash	0			0	0
Advances to affiliates	0			0
Customer accounts receivable, net	7,594			38,216
Accrued unbilled revenues, net	5,568			25,102
Other accounts receivable, net	61,265			13,318
Fuel oil stock, at average cost	10,657			17,968
Materials and supplies, at average cost	14,736			14,397
Prepayments and other	7,456			7,724
Regulatory assets	4,761			5,771
Total current assets	137,771			133,154
Other long-term assets
Operating lease right-of-use assets	22,422			27,470
Regulatory assets	16,091			13,575
Other	37,716			36,439
Total other long-term assets	76,229			77,484
Total assets	1,093,225			1,079,019
Capitalization
Common stock equity	237,105			359,790	352,170			344,720
Preferred stock of subsidiaries - not subject to mandatory redemption	7,000			7,000
Long-term debt, net	244,437			249,339
Total capitalization	488,542			616,129
Current liabilities
Current portion of operating lease liabilities	7,302			7,025
Current portion of long-term debt	4,998
Accounts payable	24,484			29,418
Interest and dividends payable	3,652			3,098
Taxes accrued, including revenue taxes	40,137			43,932
Regulatory liabilities	9,782			8,508
Wildfire tort-related claims (Note 2)	47,875			0
Other	28,782			33,240
Total current liabilities	167,012			125,221
Deferred credits and other liabilities
Operating lease liabilities	15,480			20,792
Finance lease liabilities	34,543			35,043
Deferred income taxes	3,024			51,661
Regulatory liabilities	208,022			199,173
Unamortized tax credits	10,887			11,650
Defined benefit pension and other postretirement benefit plans liability	0			0
Wildfire tort-related claims (Note 2)	143,625
Other	22,090			19,350
Total deferred credits and other liabilities	437,671			337,669
Total liabilities and shareholders’ equity	1,093,225			1,079,019
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings from non-affiliates	0			0
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	3,514			3,594
Plant and equipment	1,414,657			1,374,890
Financing lease right-of-use assets	50,757			0
Less accumulated depreciation	(609,419)			(605,273)
Construction in progress	42,270			38,899
Utility property, plant and equipment, net	901,779			812,110
Nonutility property, plant and equipment, less accumulated depreciation	1,532			1,532
Total property, plant and equipment, net	903,311			813,642
Investment in wholly owned subsidiaries, at equity	0			0
Current assets
Cash and cash equivalents	11,833			5,587	8,543
Restricted cash	0			0	0
Advances to affiliates	0			0
Customer accounts receivable, net	9,774			33,346
Accrued unbilled revenues, net	3,560			24,175
Other accounts receivable, net	54,397			32,521
Fuel oil stock, at average cost	18,650			22,041
Materials and supplies, at average cost	33,029			35,702
Prepayments and other	18,559			11,638
Regulatory assets	8,496			3,762
Total current assets	158,298			168,772
Other long-term assets
Operating lease right-of-use assets	7,451			9,551
Regulatory assets	30,748			23,359
Other	34,850			33,129
Total other long-term assets	73,049			66,039
Total assets	1,134,658			1,048,453
Capitalization
Common stock equity	280,629			362,344	351,064			357,036
Preferred stock of subsidiaries - not subject to mandatory redemption	5,000			5,000
Long-term debt, net	256,537			258,422
Total capitalization	542,166			625,766
Current liabilities
Current portion of operating lease liabilities	2,926			2,804
Current portion of long-term debt	1,999
Accounts payable	36,796			25,520
Interest and dividends payable	4,508			3,074
Taxes accrued, including revenue taxes	34,984			37,808
Regulatory liabilities	5,015			8,038
Wildfire tort-related claims (Note 2)	47,875			0
Other	33,180			50,170
Total current liabilities	213,483			197,914
Deferred credits and other liabilities
Operating lease liabilities	4,831			7,044
Finance lease liabilities	50,036			0
Deferred income taxes	22,534			67,311
Regulatory liabilities	118,001			111,554
Unamortized tax credits	11,100			11,532
Defined benefit pension and other postretirement benefit plans liability	0			0
Wildfire tort-related claims (Note 2)	143,625
Other	28,882			27,332
Total deferred credits and other liabilities	379,009			224,773
Total liabilities and shareholders’ equity	1,134,658			1,048,453
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings from non-affiliates	46,200			70,500
Other subsidiaries | Reportable Legal Entities | Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	0			0
Plant and equipment	0			0
Financing lease right-of-use assets	0			0
Less accumulated depreciation	0			0
Construction in progress	0			0
Utility property, plant and equipment, net	0			0
Nonutility property, plant and equipment, less accumulated depreciation	0			0
Total property, plant and equipment, net	0			0
Investment in wholly owned subsidiaries, at equity	0			0
Current assets
Cash and cash equivalents	10,665			77	77
Restricted cash	0			0	0
Advances to affiliates	0			0
Customer accounts receivable, net	158,180			0
Accrued unbilled revenues, net	166,934			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	335,779			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	335,779			77
Capitalization
Common stock equity	151,716			77	$ 77			$ 77
Preferred stock of subsidiaries - not subject to mandatory redemption	0			0
Long-term debt, net	0			0
Total capitalization	151,716			77
Current liabilities
Current portion of operating lease liabilities	0			0
Current portion of long-term debt	0
Accounts payable	0			0
Interest and dividends payable	0			0
Taxes accrued, including revenue taxes	494			0
Regulatory liabilities	0			0
Wildfire tort-related claims (Note 2)	0			0
Other	183,569			0
Total current liabilities	184,063			0
Deferred credits and other liabilities
Operating lease liabilities	0			0
Finance lease liabilities	0			0
Deferred income taxes	0			0
Regulatory liabilities	0			0
Unamortized tax credits	0			0
Defined benefit pension and other postretirement benefit plans liability	0			0
Wildfire tort-related claims (Note 2)	0
Other	0
Total deferred credits and other liabilities	0			0
Total liabilities and shareholders’ equity	335,779			77
Other subsidiaries | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity
Current liabilities
Short-term borrowings from non-affiliates	$ 0			$ 0

Electric utility segment - Co_4

Electric utility segment - Condensed Consolidating Statement of Changes in Common Stock Equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (decrease) in stockholders' equity
Beginning balance	$ 1,085,273	$ 2,377,380	$ 2,344,841	$ 2,249,377	$ 2,237,955	$ 2,202,499	$ 2,344,841	$ 2,202,499
Net income (loss) for common stock	(104,402)	(1,295,484)	42,122	41,118	54,610	54,721	(1,357,764)	150,449
Other comprehensive loss, net of taxes	39,360	1,594	(9,801)	(34,875)	(7,609)	20,488	31,153	(21,996)
Common stock dividends				(39,455)	(39,447)	(39,446)
Issuance of common stock, net of expenses	575,000
Ending balance	1,577,041	1,085,273	2,377,380	2,224,354	2,249,377	2,237,955	1,577,041	2,224,354
Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance	1,192,842	2,435,282	2,409,110	2,371,889	2,358,884	2,344,170	2,409,110	2,344,170
Net income (loss) for common stock	(82,585)	(1,229,394)	39,221	43,461	45,299	47,009	(1,272,758)	135,769
Other comprehensive loss, net of taxes	2	(46)	(49)	(77)	(44)	(45)	(93)	(166)
Common stock dividends		(13,000)	(13,000)	(32,250)	(32,250)	(32,250)	(26,000)	(96,750)
Additional paid-in capital							0
Issuance of common stock, net of expenses							0
Ending balance	1,110,259	$ 1,192,842	2,435,282	2,383,023	$ 2,371,889	2,358,884	1,110,259	2,383,023
Consolidating adjustments | Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance			(722,211)			(701,833)	(722,211)	(701,833)
Net income (loss) for common stock	18,558			(3,005)			258,633	(25,960)
Other comprehensive loss, net of taxes	5			9			29	32
Common stock dividends								24,450
Additional paid-in capital							(686)
Issuance of common stock, net of expenses							(205,215)
Ending balance	(669,450)			(703,311)			(669,450)	(703,311)
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance			2,409,110			2,344,170	2,409,110	2,344,170
Net income (loss) for common stock	(82,585)			43,461			(1,272,758)	135,769
Other comprehensive loss, net of taxes	2			(77)			(93)	(166)
Common stock dividends							(26,000)	(96,750)
Ending balance	1,110,259			2,383,023			1,110,259	2,383,023
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance			359,790			344,720	359,790	344,720
Net income (loss) for common stock	(7,175)			7,419			(123,080)	20,884
Other comprehensive loss, net of taxes	2			(1)			(5)	(9)
Common stock dividends								(13,425)
Additional paid-in capital							400
Ending balance	237,105			352,170			237,105	352,170
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance			362,344			357,036	362,344	357,036
Net income (loss) for common stock	(12,807)			(4,414)			(136,977)	5,076
Other comprehensive loss, net of taxes	(7)			(8)			(24)	(23)
Common stock dividends								(11,025)
Additional paid-in capital							286
Issuance of common stock, net of expenses							55,000
Ending balance	280,629			351,064			280,629	351,064
Other subsidiaries | Reportable Legal Entities | Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance			$ 77			$ 77	77	77
Net income (loss) for common stock	1,424			0			1,424	0
Other comprehensive loss, net of taxes	0			0			0	0
Issuance of common stock, net of expenses							150,215
Ending balance	$ 151,716			$ 77			$ 151,716	$ 77

Electric utility segment - Co_5

Electric utility segment - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Cash flows from operating activities
Net cash provided by (used in) operating activities	$ 350,911	$ 475,138
Cash flows from investing activities
Capital expenditures	(258,645)	(342,364)
Other	(1,142)	9,375
Net cash used in investing activities	(24,060)	(369,638)
Cash flows from financing activities
Common stock dividends	0	(112,957)
Proceeds from issuance of common stock	556,724	437
Proceeds from issuance of long-term debt	5,204	625,000
Net decrease in short-term borrowings with original maturities of three months or less	0	(137,650)
Other	(18,149)	(9,409)
Net cash provided by (used in) financing activities	151,855	371,866
Net increase in cash, cash equivalents and restricted cash	478,706	477,366
Cash, cash equivalents and restricted cash, beginning of period	694,574	204,927
Cash, cash equivalents and restricted cash, end of period	1,173,280	682,293
Less: Restricted cash	(13,645)	(15,164)	$ (15,028)
Cash and cash equivalents	1,159,635	667,129	679,546
Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by (used in) operating activities	322,648	406,111
Cash flows from investing activities
Capital expenditures	(244,300)	(334,497)
Advanced (to) from affiliates	0	0
Other	2,697	5,216
Net cash used in investing activities	(241,603)	(329,281)
Cash flows from financing activities
Common stock dividends	(26,000)	(96,750)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(1,496)	(1,496)
Proceeds from issuance of common stock	0
Proceeds from issuance of long-term debt	0	350,000
Net decrease in short-term borrowings with original maturities of three months or less	0	(87,967)
Payments of obligations under finance leases	(5,876)	(2,162)
Other	(6,126)	(843)
Net cash provided by (used in) financing activities	(39,498)	160,782
Net increase in cash, cash equivalents and restricted cash	41,547	237,612
Cash, cash equivalents and restricted cash, beginning of period	108,077	39,242
Cash, cash equivalents and restricted cash, end of period	149,624	276,854
Less: Restricted cash	(2,000)	(2,000)	(2,000)
Cash and cash equivalents	147,624	274,854	106,077
Consolidating adjustments | Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by (used in) operating activities	(2,082)	(24,450)
Cash flows from investing activities
Capital expenditures	0	0
Advanced (to) from affiliates	30,700	(26,200)
Other	21,882	0
Net cash used in investing activities	52,582	(26,200)
Cash flows from financing activities
Common stock dividends	0	24,450
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0
Proceeds from issuance of common stock	(19,800)
Proceeds from issuance of long-term debt		0
Net decrease in short-term borrowings with original maturities of three months or less	(30,700)	26,200
Payments of obligations under finance leases	0	0
Other	0	0
Net cash provided by (used in) financing activities	(50,500)	50,650
Net increase in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Less: Restricted cash	0	0	0
Cash and cash equivalents	0	0	0
Hawaiian Electric
Cash flows from financing activities
Cash and cash equivalents	677,700
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by (used in) operating activities	237,155	336,248
Cash flows from investing activities
Capital expenditures	(141,000)	(217,276)
Advanced (to) from affiliates	(30,700)	0
Other	(18,696)	3,179
Net cash used in investing activities	(190,396)	(214,097)
Cash flows from financing activities
Common stock dividends	(26,000)	(96,750)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(1,496)	(810)
Proceeds from issuance of common stock	0
Proceeds from issuance of long-term debt		300,000
Net decrease in short-term borrowings with original maturities of three months or less	0	(114,167)
Payments of obligations under finance leases	(5,233)	(1,914)
Other	(4,393)	(571)
Net cash provided by (used in) financing activities	(37,122)	85,788
Net increase in cash, cash equivalents and restricted cash	9,637	207,939
Cash, cash equivalents and restricted cash, beginning of period	91,755	27,579
Cash, cash equivalents and restricted cash, end of period	101,392	235,518
Less: Restricted cash	(2,000)	(2,000)	(2,000)
Cash and cash equivalents	99,392	233,518	89,755
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by (used in) operating activities	54,936	59,029
Cash flows from investing activities
Capital expenditures	(39,405)	(47,609)
Advanced (to) from affiliates	0	4,500
Other	523	912
Net cash used in investing activities	(38,882)	(42,197)
Cash flows from financing activities
Common stock dividends	0	(13,425)
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	(400)
Proceeds from issuance of common stock	0
Proceeds from issuance of long-term debt		25,000
Net decrease in short-term borrowings with original maturities of three months or less	0	0
Payments of obligations under finance leases	(470)	(248)
Other	(508)	(135)
Net cash provided by (used in) financing activities	(978)	10,792
Net increase in cash, cash equivalents and restricted cash	15,076	27,624
Cash, cash equivalents and restricted cash, beginning of period	10,658	5,092
Cash, cash equivalents and restricted cash, end of period	25,734	32,716
Less: Restricted cash	0	0	0
Cash and cash equivalents	25,734	32,716	10,658
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by (used in) operating activities	41,851	35,284
Cash flows from investing activities
Capital expenditures	(63,895)	(69,612)
Advanced (to) from affiliates	0	21,700
Other	(1,012)	1,125
Net cash used in investing activities	(64,907)	(46,787)
Cash flows from financing activities
Common stock dividends	0	(11,025)
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	(286)
Proceeds from issuance of common stock	0
Proceeds from issuance of long-term debt		25,000
Net decrease in short-term borrowings with original maturities of three months or less	30,700	0
Payments of obligations under finance leases	(173)	0
Other	(1,225)	(137)
Net cash provided by (used in) financing activities	29,302	13,552
Net increase in cash, cash equivalents and restricted cash	6,246	2,049
Cash, cash equivalents and restricted cash, beginning of period	5,587	6,494
Cash, cash equivalents and restricted cash, end of period	11,833	8,543
Less: Restricted cash	0	0	0
Cash and cash equivalents	11,833	8,543	5,587
Other subsidiaries | Reportable Legal Entities | Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by (used in) operating activities	(9,212)	0
Cash flows from investing activities
Capital expenditures	0	0
Advanced (to) from affiliates	0	0
Other	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities
Common stock dividends	0	0
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0
Proceeds from issuance of common stock	19,800
Proceeds from issuance of long-term debt		0
Net decrease in short-term borrowings with original maturities of three months or less	0	0
Payments of obligations under finance leases	0	0
Other	0	0
Net cash provided by (used in) financing activities	19,800	0
Net increase in cash, cash equivalents and restricted cash	10,588	0
Cash, cash equivalents and restricted cash, beginning of period	77	77
Cash, cash equivalents and restricted cash, end of period	10,665	77
Less: Restricted cash	0	0	0
Cash and cash equivalents	$ 10,665	$ 77	$ 77

Bank segment - Income Statement

Bank segment - Income Statement Data (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Noninterest income
Noninterest income	$ 856,404			$ 822,044			$ 2,428,805	$ 2,435,416
Noninterest expense
Goodwill impairment							82,190	0
Income (loss) before income taxes	(149,234)			49,110			(1,837,245)	188,781
Income tax expense (benefit)	(45,303)			7,521			(480,898)	36,915
Net income (loss)	(103,931)			41,589			(1,356,347)	151,866
Other comprehensive income (loss), net of tax benefits	39,360	$ 1,594	$ (9,801)	(34,875)	$ (7,609)	$ 20,488	31,153	(21,996)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(65,042)			6,243			(1,326,611)	128,453
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans	73,654			71,540			219,585	204,348
Interest and dividends on investment securities	14,001			14,096			42,183	42,508
Interest and dividend income	87,655			85,636			261,768	246,856
Interest expense
Interest on deposit liabilities	19,018			14,446			54,465	30,944
Interest on other borrowings	6,403			8,598			21,036	25,171
Total interest expense	25,421			23,044			75,501	56,115
Net interest income	62,234			62,592			186,267	190,741
Provision for credit losses	248			8,835			(3,821)	10,053
Net interest income after provision for credit losses	61,986			53,757			190,088	180,688
Noninterest income
Gain on sale of real estate	0			0			0	495
Total noninterest income	17,489			15,338			50,463	45,355
Noninterest expense
Compensation and employee benefits	31,485			29,902			93,746	89,500
Occupancy	5,630			5,154			15,913	16,281
Data processing	4,974			5,133			14,780	15,240
Services	3,816			3,627			12,217	8,911
Equipment	2,436			3,125			7,562	8,728
Office supplies, printing and postage	1,014			1,022			3,038	3,296
Marketing	885			984			2,408	2,834
Goodwill impairment	0	$ 82,200		0			82,190	0
Other expense	5,806			7,399			16,561	19,742
Noninterest expense	56,046			56,346			248,415	164,532
Income (loss) before income taxes	23,429			12,749			(7,864)	61,511
Income tax expense (benefit)	4,651			1,384			(1,789)	11,380
Net income (loss)	18,778			11,365			(6,075)	50,131
Other comprehensive income (loss), net of tax benefits	40,204			(34,231)			32,069	(23,011)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	58,982			(22,866)			25,994	27,120
American Savings Bank (ASB) | Fees from other financial services
Noninterest income
Noninterest income	5,188			4,703			15,195	14,391
American Savings Bank (ASB) | Fee income on deposit liabilities
Noninterest income
Noninterest income	5,156			4,924			14,684	14,027
American Savings Bank (ASB) | Fee income on other financial products
Noninterest income
Noninterest income	3,131			2,440			8,834	7,952
American Savings Bank (ASB) | Bank-owned life insurance
Noninterest income
Noninterest income	2,993			2,303			8,832	5,683
American Savings Bank (ASB) | Mortgage banking income
Noninterest income
Noninterest income	363			341			1,151	701
American Savings Bank (ASB) | Other income, net
Noninterest income
Noninterest income	$ 658			$ 627			$ 1,767	$ 2,106

Bank segment - Reconciliation o

Bank segment - Reconciliation of Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Condensed Income Statements, Captions [Line Items]
Revenues	$ 938,383	$ 901,873	$ 2,732,901	$ 2,725,795
Less / Add back: Retirement defined benefits credit—other than service costs	(1,106)	(1,256)	(3,669)	(3,561)
Total expenses	1,064,931	826,762	4,502,005	2,464,187
Operating income - bank	(126,548)	75,111	(1,769,104)	261,608
Income (loss) before income taxes	(149,234)	49,110	(1,837,245)	188,781
American Savings Bank (ASB)
Condensed Income Statements, Captions [Line Items]
Interest and dividend income	87,655	85,636	261,768	246,856
Noninterest income	17,489	15,338	50,463	45,355
Less: Gain on sale of real estate	0	0	0	495
Revenues	105,144	100,974	312,231	291,716
Total interest expense	25,421	23,044	75,501	56,115
Provision for credit losses	248	8,835	(3,821)	10,053
Noninterest expense	56,046	56,346	248,415	164,532
Less / Add back: Retirement defined benefits credit—other than service costs	(257)	(190)	(818)	(564)
Total expenses	81,972	88,415	320,913	230,769
Operating income - bank	23,172	12,559	(8,682)	60,947
Income (loss) before income taxes	$ 23,429	$ 12,749	$ (7,864)	$ 61,511

Bank segment - Narrative (Detai

Bank segment - Narrative (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Allowance for credit losses
Goodwill impairment				$ 82,190,000	$ 0
Other bank borrowings	$ 520,000,000			520,000,000		$ 750,000,000
American Savings Bank (ASB)
Allowance for credit losses
Goodwill impairment	0	$ 82,200,000	$ 0	$ 82,190,000	0
Minimum benchmark percentage of loan to appraisal ratio which mortgage insurance is required				80%
Unused line and letters of credits	1,800,000,000			$ 1,800,000,000
Advances from the FHLB	520,000,000			520,000,000		200,000,000
American Savings Bank (ASB) | Federal Reserve Bank Advances
Allowance for credit losses
Other bank borrowings	$ 0			0		$ 550,000,000
Home equity line of credit
Allowance for credit losses
Conversion of debt				18,100,000	20,400,000
Commercial
Allowance for credit losses
Conversion of debt				2,600,000	6,100,000
Consumer
Allowance for credit losses
Conversion of debt				$ 500,000	$ 1,100,000

Bank segment - Balance Sheets D

Bank segment - Balance Sheets Data (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 1,159,635			$ 679,546	$ 667,129
Investment securities
Available-for-sale investment securities, at fair value	1,084,083			1,136,439
Held-to-maturity, at amortized cost (fair value of $1,086,205 and $1,103,668, at September 30, 2024 and December 31, 2023, respectively)	1,159,229			1,201,314
Held-to-maturity investment securities	1,086,205
Stock in Federal Home Loan Bank, at cost	29,204			14,728
Allowance for credit losses	(64,796)	$ (66,813)		(74,372)	(76,366)	$ (69,068)		$ (72,216)
Loans held for investment, net	5,972,614			6,106,438
Loans held for sale, at lower of cost or fair value	2,704			15,168
Other	1,088,417			877,959
Goodwill	0			82,190
Total assets	17,731,228			17,243,821
Liabilities and shareholder’s equity
Other	736,459			778,349
Total liabilities	16,119,894			14,864,687
Retained earnings (deficit)	(431,044)			926,720
Accumulated other comprehensive loss, net of tax benefits
Accumulated other comprehensive loss, net of tax benefits	(258,197)			(289,350)
Common stock equity	1,577,041	$ 1,085,273	$ 2,377,380	2,344,841	$ 2,224,354	$ 2,249,377	$ 2,237,955	$ 2,202,499
Total liabilities and shareholders’ equity	17,731,228			17,243,821
Other assets
Premises and equipment, net	6,296,088			6,150,126
Total other assets	1,088,417			877,959
Other liabilities
Total other liabilities	736,459			778,349
American Savings Bank (ASB)
Assets
Cash and due from banks	155,869			184,383
Interest-bearing deposits	176,784			251,072
Cash and cash equivalents	332,653			435,455
Investment securities
Available-for-sale investment securities, at fair value	1,084,083			1,136,439
Held-to-maturity, at amortized cost (fair value of $1,086,205 and $1,103,668, at September 30, 2024 and December 31, 2023, respectively)	1,159,229			1,201,314
Held-to-maturity investment securities	1,086,205			1,103,668
Stock in Federal Home Loan Bank, at cost	29,204			14,728
Loans held for investment	6,037,410			6,180,810
Allowance for credit losses	(64,796)			(74,372)
Loans held for investment, net	5,972,614			6,106,438
Loans held for sale, at lower of cost or fair value	2,704			15,168
Other	687,359			681,460
Goodwill	0			82,190
Total assets	9,267,846			9,673,192
Liabilities and shareholder’s equity
Deposit liabilities—noninterest-bearing	2,486,717			2,599,762
Deposit liabilities—interest-bearing	5,512,493			5,546,016
Other borrowings	520,000			750,000
Other	191,512			247,563
Total liabilities	8,710,722			9,143,341
Common stock	1			1
Additional paid-in capital	359,346			358,067
Retained earnings (deficit)	457,980			464,055
Accumulated other comprehensive loss, net of tax benefits
Net unrealized losses on securities	(251,703)			(282,963)
Retirement benefit plans	(8,500)			(9,309)
Accumulated other comprehensive loss, net of tax benefits	(260,203)			(292,272)
Common stock equity	557,124			529,851
Total liabilities and shareholders’ equity	9,267,846			9,673,192
Other assets
Bank-owned life insurance	199,741			187,857
Premises and equipment, net	180,073			187,042
Accrued interest receivable	28,764			28,472
Mortgage-servicing rights	7,722			8,169
Low-income housing investments	100,499			112,234
Deferred tax asset	108,338			104,292
Other	62,222			53,394
Total other assets	687,359			681,460
Other liabilities
Accrued expenses	80,788			115,231
Cashier’s checks	35,625			40,479
Advance payments by borrowers	4,373			10,107
Other	70,726			81,746
Total other liabilities	$ 191,512			$ 247,563

Bank segment - Components of In

Bank segment - Components of Investment Securities (Details) $ in Thousands	Sep. 30, 2024 USD ($) issue	Dec. 31, 2023 USD ($) issue
Available-for-sale
Amortized cost	$ 1,260,132
Available-for-sale investment securities, at fair value	1,084,083	$ 1,136,439
Held-to-maturity
Held-to-maturity investment securities, at amortized cost	1,159,229	1,201,314
Held-to-maturity investment securities	1,086,205
American Savings Bank (ASB)
Available-for-sale
Amortized cost	1,260,132	1,341,886
Gross unrealized gains	31	0
Gross unrealized losses	(176,080)	(205,447)
Available-for-sale investment securities, at fair value	$ 1,084,083	$ 1,136,439
Gross unrealized losses, less than 12 months, number of issues | issue	0	3
Gross unrealized losses, less than 12 months, fair value	$ 0	$ 1,649
Gross unrealized losses, less than 12 months, amount	$ 0	$ (22)
Gross unrealized losses, 12 months or longer, number of issues | issue	117	128
Gross unrealized losses, 12 months or longer, fair value	$ 1,067,418	$ 1,120,432
Gross unrealized losses, 12 months or more, amount	(176,080)	(205,425)
Held-to-maturity
Held-to-maturity investment securities, at amortized cost	1,159,229	1,201,314
Gross unrealized gains	6,355	2,221
Gross unrealized losses	(79,379)	(99,867)
Held-to-maturity investment securities	$ 1,086,205	$ 1,103,668
Less than 12 months, number of issues | issue	0	37
Less than 12 months, fair value	$ 0	$ 378,326
Less than 12 months, amount	$ 0	$ (7,610)
12 months or longer, number of issues | issue	68	46
12 months or longer: fair value	$ 702,883	$ 484,864
12 months or longer, amount	(79,379)	(92,257)
U.S. Treasury and federal agency obligations | American Savings Bank (ASB)
Available-for-sale
Amortized cost	7,789	12,437
Gross unrealized gains	0	0
Gross unrealized losses	(192)	(427)
Available-for-sale investment securities, at fair value	$ 7,597	$ 12,010
Gross unrealized losses, less than 12 months, number of issues | issue	0	0
Gross unrealized losses, less than 12 months, fair value	$ 0	$ 0
Gross unrealized losses, less than 12 months, amount	$ 0	$ 0
Gross unrealized losses, 12 months or longer, number of issues | issue	6	9
Gross unrealized losses, 12 months or longer, fair value	$ 7,597	$ 12,010
Gross unrealized losses, 12 months or more, amount	(192)	(427)
Held-to-maturity
Held-to-maturity investment securities, at amortized cost	59,935	59,917
Gross unrealized gains	0	0
Gross unrealized losses	(5,686)	(7,135)
Held-to-maturity investment securities	$ 54,249	$ 52,782
Less than 12 months, number of issues | issue	0	0
Less than 12 months, fair value	$ 0	$ 0
Less than 12 months, amount	$ 0	$ 0
12 months or longer, number of issues | issue	3	3
12 months or longer: fair value	$ 54,249	$ 52,782
12 months or longer, amount	(5,686)	(7,135)
Mortgage-backed securities | American Savings Bank (ASB)
Available-for-sale
Amortized cost	1,203,271	1,279,852
Gross unrealized gains	31	0
Gross unrealized losses	(174,675)	(202,684)
Available-for-sale investment securities, at fair value	$ 1,028,627	$ 1,077,168
Gross unrealized losses, less than 12 months, number of issues | issue	0	3
Gross unrealized losses, less than 12 months, fair value	$ 0	$ 1,649
Gross unrealized losses, less than 12 months, amount	$ 0	$ (22)
Gross unrealized losses, 12 months or longer, number of issues | issue	108	116
Gross unrealized losses, 12 months or longer, fair value	$ 1,025,897	$ 1,075,519
Gross unrealized losses, 12 months or more, amount	(174,675)	(202,662)
Held-to-maturity
Held-to-maturity investment securities, at amortized cost	1,099,294	1,141,397
Gross unrealized gains	6,355	2,221
Gross unrealized losses	(73,693)	(92,732)
Held-to-maturity investment securities	$ 1,031,956	$ 1,050,886
Less than 12 months, number of issues | issue	0	37
Less than 12 months, fair value	$ 0	$ 378,326
Less than 12 months, amount	$ 0	$ (7,610)
12 months or longer, number of issues | issue	65	43
12 months or longer: fair value	$ 648,634	$ 432,082
12 months or longer, amount	(73,693)	(85,122)
Corporate bonds | American Savings Bank (ASB)
Available-for-sale
Amortized cost	35,137	35,239
Gross unrealized gains	0	0
Gross unrealized losses	(1,213)	(2,336)
Available-for-sale investment securities, at fair value	$ 33,924	$ 32,903
Gross unrealized losses, less than 12 months, number of issues | issue	0	0
Gross unrealized losses, less than 12 months, fair value	$ 0	$ 0
Gross unrealized losses, less than 12 months, amount	$ 0	$ 0
Gross unrealized losses, 12 months or longer, number of issues | issue	3	3
Gross unrealized losses, 12 months or longer, fair value	$ 33,924	$ 32,903
Gross unrealized losses, 12 months or more, amount	(1,213)	(2,336)
Mortgage revenue bonds | American Savings Bank (ASB)
Available-for-sale
Amortized cost	13,935	14,358
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Available-for-sale investment securities, at fair value	$ 13,935	$ 14,358
Gross unrealized losses, less than 12 months, number of issues | issue	0	0
Gross unrealized losses, less than 12 months, fair value	$ 0	$ 0
Gross unrealized losses, less than 12 months, amount	$ 0	$ 0
Gross unrealized losses, 12 months or longer, number of issues | issue	0	0
Gross unrealized losses, 12 months or longer, fair value	$ 0	$ 0
Gross unrealized losses, 12 months or more, amount	$ 0	$ 0

Bank segment - Contractual Matu

Bank segment - Contractual Maturities of Investment Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Available-for-sale
Due in one year or less	$ 370
Due after one year through five years	42,557
Due after five years through ten years	13,934
Due after ten years	0
Total amortized cost	56,861
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	1,203,271
Amortized cost	1,260,132
Held-to-maturity
Due in one year or less	0
Due after one year through five years	39,858
Due after five years through ten years	20,077
Due after ten years	0
Total amortized cost	59,935
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	1,099,294
Held-to-maturity investment securities, at amortized cost	1,159,229	$ 1,201,314
Available-for-sale
Due in one year or less	364
Due after one year through five years	41,157
Due after five years through ten years	13,935
Due after ten years	0
Total fair value	55,456
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	1,028,627
Available-for-sale investment securities, at fair value	1,084,083	$ 1,136,439
Held-to-maturity
Due in one year or less	0
Due after one year through five years	36,634
Due after five years through ten years	17,615
Due after ten years	0
Total fair value	54,249
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	1,031,956
Held-to-maturity investment securities	$ 1,086,205

Bank segment - Loans Receivable

Bank segment - Loans Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 6,064,848		$ 6,210,578
Less: Deferred fees and discounts	(27,438)		(29,768)
Allowance for credit losses	(64,796)	$ (66,813)	(74,372)	$ (76,366)	$ (69,068)	$ (72,216)
Loans held for investment, net	5,972,614		6,106,438
Real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,179,867		5,195,019
Residential 1-4 family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,608,281		2,595,162
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,366,214		1,374,038
Home equity line of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	959,607		1,017,207
Residential land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	19,900		18,364
Commercial construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	208,867		172,405
Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	16,998		17,843
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	645,571		743,303
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 239,410		$ 272,256

Bank segment - Allowance for Cr

Bank segment - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Allowance for credit losses:
Beginning balance	$ 66,813	$ 69,068	$ 74,372	$ 72,216
Charge-offs	(3,127)	(2,792)	(9,928)	(9,417)
Recoveries	862	1,755	3,273	4,214
Provision	248	8,335	(2,921)	9,353
Ending balance	64,796	76,366	64,796	76,366
Residential 1-4 family
Allowance for credit losses:
Charge-offs			(850)
Commercial real estate
Allowance for credit losses:
Charge-offs			0
Home equity line of credit
Allowance for credit losses:
Charge-offs			0
Residential land
Allowance for credit losses:
Charge-offs			0
Commercial construction
Allowance for credit losses:
Charge-offs			0
Residential construction
Allowance for credit losses:
Charge-offs			0
Real estate | Residential 1-4 family
Allowance for credit losses:
Beginning balance	6,219	4,708	7,435	6,270
Charge-offs	(8)	0	(850)	(990)
Recoveries	9	57	202	63
Provision	(211)	1,702	(778)	1,124
Ending balance	6,009	6,467	6,009	6,467
Real estate | Commercial real estate
Allowance for credit losses:
Beginning balance	18,656	20,278	22,185	21,898
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	96	2,180	(3,433)	560
Ending balance	18,752	22,458	18,752	22,458
Real estate | Home equity line of credit
Allowance for credit losses:
Beginning balance	9,552	7,139	7,778	6,125
Charge-offs	0	0	0	(360)
Recoveries	12	131	259	165
Provision	(443)	505	1,084	1,845
Ending balance	9,121	7,775	9,121	7,775
Real estate | Residential land
Allowance for credit losses:
Beginning balance	759	653	621	717
Charge-offs	0	0	0	0
Recoveries	0	1	0	4
Provision	(147)	(33)	(9)	(100)
Ending balance	612	621	612	621
Real estate | Commercial construction
Allowance for credit losses:
Beginning balance	3,369	2,549	3,603	1,195
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	(278)	1,075	(512)	2,429
Ending balance	3,091	3,624	3,091	3,624
Real estate | Residential construction
Allowance for credit losses:
Beginning balance	38	26	43	46
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	(1)	16	(6)	(4)
Ending balance	37	42	37	42
Commercial
Allowance for credit losses:
Beginning balance	6,317	11,358	9,122	12,426
Charge-offs	(120)	(125)	(360)	(509)
Recoveries	100	725	385	1,329
Provision	(292)	(1,175)	(3,142)	(2,463)
Ending balance	6,005	10,783	6,005	10,783
Consumer
Allowance for credit losses:
Beginning balance	21,903	22,357	23,585	23,539
Charge-offs	(2,999)	(2,667)	(8,718)	(7,558)
Recoveries	741	841	2,427	2,653
Provision	1,524	4,065	3,875	5,962
Ending balance	$ 21,169	$ 24,596	$ 21,169	$ 24,596

Bank segment - Allowance for Lo

Bank segment - Allowance for Loan Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Allowance for loan commitments:
Beginning balance	$ 4,200	$ 4,600	$ 5,100	$ 4,400
Provision	0	500	(900)	700
Ending balance	4,200	5,100	4,200	5,100
Real estate | Home equity line of credit
Allowance for loan commitments:
Beginning balance	700	600	600	400
Provision	0	0	100	200
Ending balance	700	600	700	600
Real estate | Commercial construction
Allowance for loan commitments:
Beginning balance	3,100	3,800	4,300	2,600
Provision	0	500	(1,200)	1,700
Ending balance	3,100	4,300	3,100	4,300
Commercial
Allowance for loan commitments:
Beginning balance	400	200	200	1,400
Provision	0	0	200	(1,200)
Ending balance	$ 400	$ 200	$ 400	$ 200

Bank segment - Credit Risk Prof

Bank segment - Credit Risk Profile - Payment Activity and Assigned Grades (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Credit risk profile by internally assigned grade for loans
Current year	$ 297,618	$ 638,750
One year before current year	586,133	1,212,344
Two years before current year	1,126,694	1,081,072
Three years before current year	996,563	747,623
Four years before current year	689,957	234,179
Prior	1,197,336	1,081,789
Revolving	1,092,901	1,145,385
Converted to term loans	77,646	69,436
Total	6,064,848	6,210,578
30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	6,559	8,712
60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	3,606	8,148
Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Total	18,262	23,073
Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current year	131,347	263,605
One year before current year	253,155	411,257
Two years before current year	398,582	732,821
Three years before current year	707,065	401,163
Four years before current year	385,472	104,976
Prior	732,660	681,340
Revolving	0	0
Converted to term loans	0	0
Total	2,608,281	2,595,162
Real estate | Residential 1-4 family | Current
Credit risk profile by internally assigned grade for loans
Current year	131,347	263,605
One year before current year	253,155	407,304
Two years before current year	397,855	729,256
Three years before current year	706,189	399,766
Four years before current year	385,208	104,487
Prior	726,220	672,408
Revolving	0	0
Converted to term loans	0	0
Total	2,599,974	2,576,826
Real estate | Residential 1-4 family | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	708
Two years before current year	0	0
Three years before current year	333	268
Four years before current year	264	0
Prior	1,541	3,525
Revolving	0	0
Converted to term loans	0	0
Total	2,138	4,501
Real estate | Residential 1-4 family | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	726
Two years before current year	0	2,694
Three years before current year	0	0
Four years before current year	0	0
Prior	891	1,745
Revolving	0	0
Converted to term loans	0	0
Total	891	5,165
Real estate | Residential 1-4 family | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	2,519
Two years before current year	727	871
Three years before current year	543	1,129
Four years before current year	0	489
Prior	4,008	3,662
Revolving	0	0
Converted to term loans	0	0
Total	5,278	8,670
Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	891,183	957,388
Converted to term loans	68,424	59,819
Total	959,607	1,017,207
Real estate | Home equity line of credit | Current
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	888,858	954,461
Converted to term loans	67,452	59,146
Total	956,310	1,013,607
Real estate | Home equity line of credit | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	969	1,219
Converted to term loans	419	262
Total	1,388	1,481
Real estate | Home equity line of credit | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	624	597
Converted to term loans	449	0
Total	1,073	597
Real estate | Home equity line of credit | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	732	1,111
Converted to term loans	104	411
Total	836	1,522
Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current year	5,889	3,788
One year before current year	3,689	4,772
Two years before current year	4,513	7,234
Three years before current year	3,473	1,847
Four years before current year	1,729	0
Prior	607	723
Revolving	0	0
Converted to term loans	0	0
Total	19,900	18,364
Real estate | Residential land | Current
Credit risk profile by internally assigned grade for loans
Current year	5,889	3,788
One year before current year	3,689	4,097
Two years before current year	4,513	7,234
Three years before current year	3,473	1,847
Four years before current year	1,729	0
Prior	607	723
Revolving	0	0
Converted to term loans	0	0
Total	19,900	17,689
Real estate | Residential land | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Real estate | Residential land | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	675
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	675
Real estate | Residential land | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current year	831	5,369
One year before current year	9,640	10,984
Two years before current year	6,527	1,490
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	16,998	17,843
Real estate | Residential construction | Current
Credit risk profile by internally assigned grade for loans
Current year	831	5,369
One year before current year	9,640	10,984
Two years before current year	6,527	1,490
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	16,998	17,843
Real estate | Residential construction | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Real estate | Residential construction | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Real estate | Residential construction | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current year	35,630	104,368
One year before current year	104,725	386,119
Two years before current year	377,295	193,683
Three years before current year	191,509	267,458
Four years before current year	256,108	90,783
Prior	385,465	316,145
Revolving	15,482	15,482
Converted to term loans	0	0
Total	1,366,214	1,374,038
Real estate | Commercial real estate | Pass
Credit risk profile by internally assigned grade for loans
Current year	35,630	104,368
One year before current year	104,725	384,144
Two years before current year	376,087	180,986
Three years before current year	188,549	267,458
Four years before current year	256,108	65,625
Prior	368,171	307,367
Revolving	15,482	15,482
Converted to term loans	0	0
Total	1,344,752	1,325,430
Real estate | Commercial real estate | Special Mention
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	1,975
Two years before current year	1,208	11,159
Three years before current year	1,455	0
Four years before current year	0	14,110
Prior	1,106	3,008
Revolving	0	0
Converted to term loans	0	0
Total	3,769	30,252
Real estate | Commercial real estate | Substandard
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	1,538
Three years before current year	1,505	0
Four years before current year	0	11,048
Prior	13,990	5,770
Revolving	0	0
Converted to term loans	0	0
Total	15,495	18,356
Real estate | Commercial real estate | Doubtful
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	2,198	0
Revolving	0	0
Converted to term loans	0	0
Total	2,198	0
Real estate | Commercial real estate | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	0	0
Real estate | Commercial real estate | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	0	0
Real estate | Commercial real estate | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Total	10,698	11,048
Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current year	0	45,863
One year before current year	68,962	33,240
Two years before current year	41,201	26,133
Three years before current year	17,685	1,333
Four years before current year	1,333	0
Prior	0	0
Revolving	79,686	65,836
Converted to term loans	0	0
Total	208,867	172,405
Real estate | Commercial construction | Pass
Credit risk profile by internally assigned grade for loans
Current year	0	45,863
One year before current year	68,962	33,240
Two years before current year	41,201	26,133
Three years before current year	17,685	1,333
Four years before current year	1,333	0
Prior	0	0
Revolving	79,686	65,836
Converted to term loans	0	0
Total	208,867	172,405
Real estate | Commercial construction | Special Mention
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Real estate | Commercial construction | Substandard
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Real estate | Commercial construction | Doubtful
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Real estate | Commercial construction | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	0	0
Real estate | Commercial construction | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	0	0
Real estate | Commercial construction | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Total	0	0
Consumer
Credit risk profile by internally assigned grade for loans
Current year	32,334	89,230
One year before current year	65,169	156,225
Two years before current year	123,762	10,243
Three years before current year	5,263	1,748
Four years before current year	666	530
Prior	280	200
Revolving	9,839	10,846
Converted to term loans	2,097	3,234
Total	239,410	272,256
Consumer | Current
Credit risk profile by internally assigned grade for loans
Current year	31,632	87,686
One year before current year	63,848	153,239
Two years before current year	120,783	9,852
Three years before current year	5,061	1,654
Four years before current year	648	451
Prior	280	200
Revolving	9,635	10,663
Converted to term loans	1,790	2,779
Total	233,677	266,524
Consumer | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Current year	503	805
One year before current year	566	1,314
Two years before current year	1,387	176
Three years before current year	101	29
Four years before current year	4	24
Prior	0	0
Revolving	67	56
Converted to term loans	96	163
Total	2,724	2,567
Consumer | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Current year	111	385
One year before current year	402	886
Two years before current year	990	114
Three years before current year	61	41
Four years before current year	8	21
Prior	0	0
Revolving	21	60
Converted to term loans	40	69
Total	1,633	1,576
Consumer | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Current year	88	354
One year before current year	353	786
Two years before current year	602	101
Three years before current year	40	24
Four years before current year	6	34
Prior	0	0
Revolving	116	67
Converted to term loans	171	223
Total	1,376	1,589
Commercial
Credit risk profile by internally assigned grade for loans
Current year	91,587	126,527
One year before current year	80,793	209,747
Two years before current year	174,814	109,468
Three years before current year	71,568	74,074
Four years before current year	44,649	37,890
Prior	78,324	83,381
Revolving	96,711	95,833
Converted to term loans	7,125	6,383
Total	645,571	743,303
Commercial | Pass
Credit risk profile by internally assigned grade for loans
Current year	90,529	124,667
One year before current year	80,793	199,796
Two years before current year	171,002	106,669
Three years before current year	71,410	73,976
Four years before current year	44,575	37,580
Prior	75,689	80,012
Revolving	95,912	87,206
Converted to term loans	7,074	6,250
Total	636,984	716,156
Commercial | Special Mention
Credit risk profile by internally assigned grade for loans
Current year	0	1,860
One year before current year	0	6,989
Two years before current year	0	951
Three years before current year	0	0
Four years before current year	0	250
Prior	0	0
Revolving	0	7,352
Converted to term loans	0	0
Total	0	17,402
Commercial | Substandard
Credit risk profile by internally assigned grade for loans
Current year	1,058	0
One year before current year	0	2,962
Two years before current year	3,812	1,848
Three years before current year	158	98
Four years before current year	0	60
Prior	2,635	3,369
Revolving	799	1,275
Converted to term loans	51	133
Total	8,513	9,745
Commercial | Doubtful
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	74	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	74	0
Commercial | 30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	309	163
Commercial | 60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	9	135
Commercial | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Total	$ 74	$ 244

Bank segment - Gross Charge-Off

Bank segment - Gross Charge-Offs by Portfolio Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Credit risk profile by internally assigned grade for loans
Charge offs current fiscal year of origination			$ 733
Charge offs one years prior of origination year			2,853
Charge offs two years prior of origination year			4,702
Charge offs three years prior of origination year			821
Charge offs four years prior of origination year			102
Charge offs more than five years prior of origination year			717
Total	$ 3,127	$ 2,792	9,928	$ 9,417
Commercial
Credit risk profile by internally assigned grade for loans
Charge offs current fiscal year of origination			0
Charge offs one years prior of origination year			0
Charge offs two years prior of origination year			12
Charge offs three years prior of origination year			63
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			285
Total	120	125	360	509
Consumer
Credit risk profile by internally assigned grade for loans
Charge offs current fiscal year of origination			733
Charge offs one years prior of origination year			2,853
Charge offs two years prior of origination year			4,329
Charge offs three years prior of origination year			481
Charge offs four years prior of origination year			102
Charge offs more than five years prior of origination year			220
Total	$ 2,999	$ 2,667	8,718	$ 7,558
Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Charge offs current fiscal year of origination			0
Charge offs one years prior of origination year			0
Charge offs two years prior of origination year			361
Charge offs three years prior of origination year			277
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			212
Total			850
Commercial real estate
Credit risk profile by internally assigned grade for loans
Charge offs current fiscal year of origination			0
Charge offs one years prior of origination year			0
Charge offs two years prior of origination year			0
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			0
Total			0
Home equity line of credit
Credit risk profile by internally assigned grade for loans
Charge offs current fiscal year of origination			0
Charge offs one years prior of origination year			0
Charge offs two years prior of origination year			0
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			0
Total			0
Residential land
Credit risk profile by internally assigned grade for loans
Charge offs current fiscal year of origination			0
Charge offs one years prior of origination year			0
Charge offs two years prior of origination year			0
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			0
Total			0
Commercial construction
Credit risk profile by internally assigned grade for loans
Charge offs current fiscal year of origination			0
Charge offs one years prior of origination year			0
Charge offs two years prior of origination year			0
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			0
Total			0
Residential construction
Credit risk profile by internally assigned grade for loans
Charge offs current fiscal year of origination			0
Charge offs one years prior of origination year			0
Charge offs two years prior of origination year			0
Charge offs three years prior of origination year			0
Charge offs four years prior of origination year			0
Charge offs more than five years prior of origination year			0
Total			$ 0

Bank segment - Credit Risk Pr_2

Bank segment - Credit Risk Profile - Payment Activity (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Credit risk profile based on payment activity for loans
Total financing receivables	$ 6,064,848	$ 6,210,578
Amortized cost> 90 days and accruing	0	425
Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,608,281	2,595,162
Amortized cost> 90 days and accruing	0	425
Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,366,214	1,374,038
Amortized cost> 90 days and accruing	0	0
Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	959,607	1,017,207
Amortized cost> 90 days and accruing	0	0
Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	19,900	18,364
Amortized cost> 90 days and accruing	0	0
Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	208,867	172,405
Amortized cost> 90 days and accruing	0	0
Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	16,998	17,843
Amortized cost> 90 days and accruing	0	0
Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	645,571	743,303
Amortized cost> 90 days and accruing	0	0
Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	239,410	272,256
Amortized cost> 90 days and accruing	0	0
30-59 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	6,559	8,712
30-59 days past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,138	4,501
30-59 days past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	1,388	1,481
30-59 days past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	309	163
30-59 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	2,724	2,567
60-89 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	3,606	8,148
60-89 days past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	891	5,165
60-89 days past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	1,073	597
60-89 days past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	675
60-89 days past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	9	135
60-89 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	1,633	1,576
90 days or more past due
Credit risk profile based on payment activity for loans
Total financing receivables	18,262	23,073
90 days or more past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	5,278	8,670
90 days or more past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	10,698	11,048
90 days or more past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	836	1,522
90 days or more past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
90 days or more past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
90 days or more past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
90 days or more past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	74	244
90 days or more past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	1,376	1,589
Total past due
Credit risk profile based on payment activity for loans
Total financing receivables	28,427	39,933
Total past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	8,307	18,336
Total past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	10,698	11,048
Total past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	3,297	3,600
Total past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	675
Total past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	392	542
Total past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	5,733	5,732
Current
Credit risk profile based on payment activity for loans
Total financing receivables	6,036,421	6,170,645
Current | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,599,974	2,576,826
Current | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,355,516	1,362,990
Current | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	956,310	1,013,607
Current | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	19,900	17,689
Current | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	208,867	172,405
Current | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	16,998	17,843
Current | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	645,179	742,761
Current | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	$ 233,677	$ 266,524

Bank segment - Credit Risk Pr_3

Bank segment - Credit Risk Profile - Nonaccrual Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Credit risk profile based on nonaccrual loans
With a related ACL	$ 20,827	$ 24,800
Without a related ACL	4,818	3,626
Total	25,645	28,426
Real estate | Residential 1-4 family
Credit risk profile based on nonaccrual loans
With a related ACL	4,335	7,755
Without a related ACL	4,107	2,190
Total	8,442	9,945
Real estate | Commercial real estate
Credit risk profile based on nonaccrual loans
With a related ACL	10,698	11,048
Without a related ACL	0	0
Total	10,698	11,048
Real estate | Home equity line of credit
Credit risk profile based on nonaccrual loans
With a related ACL	3,346	2,626
Without a related ACL	553	1,135
Total	3,899	3,761
Real estate | Residential land
Credit risk profile based on nonaccrual loans
With a related ACL	0	780
Without a related ACL	0	0
Total	0	780
Real estate | Commercial construction
Credit risk profile based on nonaccrual loans
With a related ACL	0	0
Without a related ACL	0	0
Total	0	0
Real estate | Residential construction
Credit risk profile based on nonaccrual loans
With a related ACL	0	0
Without a related ACL	0	0
Total	0	0
Commercial
Credit risk profile based on nonaccrual loans
With a related ACL	175	133
Without a related ACL	158	301
Total	333	434
Consumer
Credit risk profile based on nonaccrual loans
With a related ACL	2,273	2,458
Without a related ACL	0	0
Total	$ 2,273	$ 2,458

Bank segment - Schedule of Loan

Bank segment - Schedule of Loan Modification (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Financing Receivable, Modified [Line Items]
Total	$ 2,156	$ 9,715
% of total class of loans	0.04%	0.16%
Term extension
Financing Receivable, Modified [Line Items]
Total	$ 153	$ 468
Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Total	153	153
Payment delay
Financing Receivable, Modified [Line Items]
Total	1,850	7,886
Combination payment delay & term extension
Financing Receivable, Modified [Line Items]
Total	0	1,208
Commercial
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0
% of total class of loans	0%	0%
Commercial | Term extension
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0
Commercial | Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Total	0	0
Commercial | Payment delay
Financing Receivable, Modified [Line Items]
Total	0	0
Commercial | Combination payment delay & term extension
Financing Receivable, Modified [Line Items]
Total	0	0
Consumer
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0
% of total class of loans	0%	0%
Consumer | Term extension
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0
Consumer | Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Total	0	0
Consumer | Payment delay
Financing Receivable, Modified [Line Items]
Total	0	0
Consumer | Combination payment delay & term extension
Financing Receivable, Modified [Line Items]
Total	0	0
Residential 1-4 family | Real estate
Financing Receivable, Modified [Line Items]
Total	$ 2,003	$ 7,232
% of total class of loans	0.08%	0.28%
Residential 1-4 family | Real estate | Term extension
Financing Receivable, Modified [Line Items]
Total	$ 153	$ 468
Residential 1-4 family | Real estate | Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Total	0	0
Residential 1-4 family | Real estate | Payment delay
Financing Receivable, Modified [Line Items]
Total	1,850	6,764
Residential 1-4 family | Real estate | Combination payment delay & term extension
Financing Receivable, Modified [Line Items]
Total	0	0
Commercial real estate | Real estate
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 1,208
% of total class of loans	0%	0.09%
Commercial real estate | Real estate | Term extension
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0
Commercial real estate | Real estate | Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Total	0	0
Commercial real estate | Real estate | Payment delay
Financing Receivable, Modified [Line Items]
Total	0	0
Commercial real estate | Real estate | Combination payment delay & term extension
Financing Receivable, Modified [Line Items]
Total	0	1,208
Home equity line of credit | Real estate
Financing Receivable, Modified [Line Items]
Total	$ 153	$ 600
% of total class of loans	0.02%	0.06%
Home equity line of credit | Real estate | Term extension
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0
Home equity line of credit | Real estate | Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Total	153	153
Home equity line of credit | Real estate | Payment delay
Financing Receivable, Modified [Line Items]
Total	0	447
Home equity line of credit | Real estate | Combination payment delay & term extension
Financing Receivable, Modified [Line Items]
Total	0	0
Residential land | Real estate
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 675
% of total class of loans	0%	3.39%
Residential land | Real estate | Term extension
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0
Residential land | Real estate | Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Total	0	0
Residential land | Real estate | Payment delay
Financing Receivable, Modified [Line Items]
Total	0	675
Residential land | Real estate | Combination payment delay & term extension
Financing Receivable, Modified [Line Items]
Total	0	0
Commercial construction | Real estate
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0
% of total class of loans	0%	0%
Commercial construction | Real estate | Term extension
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0
Commercial construction | Real estate | Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Total	0	0
Commercial construction | Real estate | Payment delay
Financing Receivable, Modified [Line Items]
Total	0	0
Commercial construction | Real estate | Combination payment delay & term extension
Financing Receivable, Modified [Line Items]
Total	0	0
Residential construction | Real estate
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0
% of total class of loans	0%	0%
Residential construction | Real estate | Term extension
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0
Residential construction | Real estate | Interest Rate Reduction
Financing Receivable, Modified [Line Items]
Total	0	0
Residential construction | Real estate | Payment delay
Financing Receivable, Modified [Line Items]
Total	0	0
Residential construction | Real estate | Combination payment delay & term extension
Financing Receivable, Modified [Line Items]
Total	$ 0	$ 0

Bank segment - Financial Effect

Bank segment - Financial Effect of Loan Modification (Details) - Real estate	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Residential 1-4 family | Term extension
Financing Receivable, Modified [Line Items]
Weighted average	329 months	208 months
Residential 1-4 family | Payment delay
Financing Receivable, Modified [Line Items]
Weighted average	6 months	9 months
Commercial real estate | Term extension
Financing Receivable, Modified [Line Items]
Weighted average		9 months
Commercial real estate | Payment delay
Financing Receivable, Modified [Line Items]
Weighted average		9 months
Home equity line of credit
Financing Receivable, Modified [Line Items]
Interest Rate Reduction (in percent)	3%	3%
Home equity line of credit | Payment delay
Financing Receivable, Modified [Line Items]
Weighted average		11 months
Residential land | Payment delay
Financing Receivable, Modified [Line Items]
Weighted average		9 months

Bank segment - Credit Risk Pr_4

Bank segment - Credit Risk Profile - Payment Activity for Loan (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Credit risk profile based on payment activity for loans
Total	$ 9,715
Current
Credit risk profile based on payment activity for loans
Total	7,197
30-59 days past due
Credit risk profile based on payment activity for loans
Total	264
60-89 days past due
Credit risk profile based on payment activity for loans
Total	153
Greater than 89 days past due
Credit risk profile based on payment activity for loans
Total	2,101
Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total	7,232
Real estate | Residential 1-4 family | Current
Credit risk profile based on payment activity for loans
Total	4,867
Real estate | Residential 1-4 family | 30-59 days past due
Credit risk profile based on payment activity for loans
Total	264
Real estate | Residential 1-4 family | 60-89 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Residential 1-4 family | Greater than 89 days past due
Credit risk profile based on payment activity for loans
Total	2,101
Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total	1,208
Real estate | Commercial real estate | Current
Credit risk profile based on payment activity for loans
Total	1,208
Real estate | Commercial real estate | 30-59 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Commercial real estate | 60-89 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Commercial real estate | Greater than 89 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total	600
Real estate | Home equity line of credit | Current
Credit risk profile based on payment activity for loans
Total	447
Real estate | Home equity line of credit | 30-59 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Home equity line of credit | 60-89 days past due
Credit risk profile based on payment activity for loans
Total	153
Real estate | Home equity line of credit | Greater than 89 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Residential land
Credit risk profile based on payment activity for loans
Total	675
Real estate | Residential land | Current
Credit risk profile based on payment activity for loans
Total	675
Real estate | Residential land | 30-59 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Residential land | 60-89 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Residential land | Greater than 89 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total	0
Real estate | Commercial construction | Current
Credit risk profile based on payment activity for loans
Total	0
Real estate | Commercial construction | 30-59 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Commercial construction | 60-89 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Commercial construction | Greater than 89 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total	0
Real estate | Residential construction | Current
Credit risk profile based on payment activity for loans
Total	0
Real estate | Residential construction | 30-59 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Residential construction | 60-89 days past due
Credit risk profile based on payment activity for loans
Total	0
Real estate | Residential construction | Greater than 89 days past due
Credit risk profile based on payment activity for loans
Total	0
Commercial
Credit risk profile based on payment activity for loans
Total	0
Commercial | Current
Credit risk profile based on payment activity for loans
Total	0
Commercial | 30-59 days past due
Credit risk profile based on payment activity for loans
Total	0
Commercial | 60-89 days past due
Credit risk profile based on payment activity for loans
Total	0
Commercial | Greater than 89 days past due
Credit risk profile based on payment activity for loans
Total	0
Consumer
Credit risk profile based on payment activity for loans
Total	0
Consumer | Current
Credit risk profile based on payment activity for loans
Total	0
Consumer | 30-59 days past due
Credit risk profile based on payment activity for loans
Total	0
Consumer | 60-89 days past due
Credit risk profile based on payment activity for loans
Total	0
Consumer | Greater than 89 days past due
Credit risk profile based on payment activity for loans
Total	$ 0

Bank segment - Collateral - Dep

Bank segment - Collateral - Dependent loans (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Nonaccrual [Line Items]
Consumer mortgage loans collateralized by residential real estate property in foreclosure process	$ 2,700	$ 3,400
Residential real estate property | Real estate | Residential 1-4 family
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	4,184	2,272
Residential real estate property | Real estate | Home equity line of credit
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	662	1,135
Collateral pledged
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	15,776	14,756
Collateral pledged | Real estate
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	15,544	14,455
Commercial real estate | Real estate | Commercial real estate
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	10,698	11,048
Business assets | Commercial
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	$ 232	$ 301

Bank segment - Mortgage Servici

Bank segment - Mortgage Servicing Rights (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) loan	Sep. 30, 2023 USD ($) loan	Dec. 31, 2023 USD ($)
Servicing contracts
Prepayment rate:
25 basis points adverse rate change	$ (232)		$ (232)		$ (90)
50 basis points adverse rate change	(494)		(494)		(204)
Discount rate:
25 basis points adverse rate change	(171)		(171)		(203)
50 basis points adverse rate change	(340)		$ (340)		(402)
American Savings Bank (ASB)
Servicing Asset at Amortized Cost [Line Items]
Number of mortgage loans repurchased | loan			0	0
Mortgage service fees	900	$ 900	$ 2,600	$ 2,700
Mortgage servicing rights
Servicing asset - beginning balance			8,169
Servicing asset - ending balance	7,722		7,722
American Savings Bank (ASB) | Residential loan
Servicing Asset at Amortized Cost [Line Items]
Proceeds from sale of residential loans	28,100	21,500	85,400	36,100
Gain on sale of mortgage loans	400	300	1,200	700
American Savings Bank (ASB) | Servicing contracts
Changes in Carrying Value of MSRs
Gross carrying amount	18,284		18,284		18,241
Accumulated amortization	(10,562)		(10,562)		(10,072)
Valuation allowance	0	0	0	0	0
Net carrying amount	7,722	8,376	7,722	8,376	8,169
Mortgage servicing rights
Servicing asset - beginning balance	7,906	8,495	8,169	9,047
Amount capitalized	171	184	548	319
Amortization	(355)	(303)	(995)	(990)
Other-than-temporary impairment	0	0	0	0
Servicing asset - ending balance	7,722	8,376	7,722	8,376
Valuation allowance for mortgage servicing rights
Valuation allowance, beginning balance	0	0	0	0
Provision	0	0	0	0
Other-than-temporary impairment	0	0	0	0
Valuation allowance, ending balance	0	$ 0	0	$ 0
Unpaid principal balance	$ 1,392,423		$ 1,392,423		$ 1,402,736
American Savings Bank (ASB) | Servicing contracts | Weighted average note rate
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0361		0.0361		0.0347
American Savings Bank (ASB) | Servicing contracts | Weighted average discount rate
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.1000		0.1000		0.1000
American Savings Bank (ASB) | Servicing contracts | Weighted average prepayment speed
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0747		0.0747		0.0571

Bank segment - Other Borrowings

Bank segment - Other Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Offsetting Liabilities [Line Items]
Other bank borrowings	$ 520,000	$ 750,000
American Savings Bank (ASB)
Offsetting Liabilities [Line Items]
Advances from the FHLB	$ 520,000	$ 200,000

Bank segment - Derivative Finan

Bank segment - Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Derivative instrument
Derivative, gain (loss), statement of income or comprehensive income	Revenues	Revenues	Revenues	Revenues
Derivative Financial Instruments Not Designated as Hedging Instruments
Derivative instrument
Asset derivatives	$ 78		$ 78		$ 86
Liability derivatives	0		0		18
Net gains (losses) recognized in the Statement of Income	(16)	$ (70)	10	$ 42
Interest rate lock commitments
Derivative instrument
Notional amount	4,672		4,672		6,246
Fair value	68		68		86
Interest rate lock commitments | Derivative Financial Instruments Not Designated as Hedging Instruments
Derivative instrument
Asset derivatives	68		68		86
Liability derivatives	0		0		0
Net gains (losses) recognized in the Statement of Income	(21)	(34)	(18)	45
Forward commitments
Derivative instrument
Notional amount	4,250		4,250		5,500
Fair value	10		10		(18)
Forward commitments | Derivative Financial Instruments Not Designated as Hedging Instruments
Derivative instrument
Asset derivatives	10		10		0
Liability derivatives	0		0		$ 18
Net gains (losses) recognized in the Statement of Income	$ 5	$ (36)	$ 28	$ (3)

Bank segment - Contingencies (D

Bank segment - Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
American Savings Bank (ASB)
Loss Contingencies [Line Items]
Unfunded commitments to fund the company's LIHTC	$ 54.4	$ 87.9

Credit agreements and changes_2

Credit agreements and changes in debt - Narrative (Details)					9 Months Ended
	Jun. 26, 2024 USD ($) payment	May 17, 2024 USD ($) extensionOption	May 14, 2023 USD ($) institution extensionOption	Feb. 18, 2022 USD ($) extensionOption	Sep. 30, 2024 USD ($)	Jun. 27, 2024 USD ($)	Dec. 08, 2023 USD ($)	Aug. 23, 2023 USD ($)	May 14, 2021 USD ($) institution
Mahipapa
Credit agreement
Number of deferred payments | payment	2
Deferred payments	$ 3,000,000
Credit Facilities | Hawaiian Electric Company, Inc. and Subsidiaries
Credit agreement
Number of financial institutions | institution			9						9
Number of financial institutions with extended termination date | institution			8
HEI Facility
Credit agreement
Credit agreement			$ 175,000,000					$ 175,000,000	$ 175,000,000
Credit agreement, remaining borrowing capacity			157,000,000
Hawaiian Electric Facility
Credit agreement
Credit agreement			200,000,000
Credit agreement, remaining borrowing capacity			$ 180,000,000
Hawaiian Electric Facility | Hawaiian Electric Company, Inc. and Subsidiaries
Credit agreement
Credit agreement				$ 275,000,000				$ 200,000,000	$ 200,000,000
Number of extension options | extensionOption			2	2
Extension period			1 year	1 year
Hawaiian Electric Facility | Hawaiian Electric Company, Inc. and Subsidiaries | Letter of Credit
Credit agreement
Credit agreement							$ 75,000,000
ABL Credit Facility Agreement | Hawaiian Electric Company, Inc. and Subsidiaries | Revolving Credit Facility | Line of credit facility
Credit agreement
Credit agreement		$ 250,000,000
Number of extension options | extensionOption		3
Extension period		1 year
Credit facility period		364 days
Automatic extension expiration period		3 years
Short-term borrowings						$ 250,000,000
Draw down of debt					$ 90,000,000

Shareholders' equity - Accumula

Shareholders' equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,085,273	$ 2,377,380	$ 2,344,841	$ 2,249,377	$ 2,237,955	$ 2,202,499	$ 2,344,841	$ 2,202,499
Current period other comprehensive income (loss)	39,360	1,594	(9,801)	(34,875)	(7,609)	20,488	31,153	(21,996)
Ending balance	1,577,041	1,085,273	2,377,380	2,224,354	2,249,377	2,237,955	1,577,041	2,224,354
AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(297,557)	(299,151)	(289,350)	(323,149)	(315,540)	(336,028)	(289,350)	(336,028)
Current period other comprehensive income (loss)	39,360	1,594	(9,801)	(34,875)	(7,609)	20,488
Ending balance	(258,197)	(297,557)	(299,151)	(358,024)	(323,149)	(315,540)	(258,197)	(358,024)
Net unrealized gains (losses) on securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(282,963)			(328,904)	(282,963)	(328,904)
Current period other comprehensive income (loss)							31,260	(21,330)
Ending balance	(251,703)			(350,234)			(251,703)	(350,234)
Unrealized gains (losses) on derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			1,638			1,991	1,638	1,991
Current period other comprehensive income (loss)							(220)	(827)
Ending balance	1,418			1,164			1,418	1,164
Retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(8,025)			(9,115)	(8,025)	(9,115)
Current period other comprehensive income (loss)							113	161
Ending balance	(7,912)			(8,954)			(7,912)	(8,954)
Hawaiian Electric Company, Inc. and Subsidiaries
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	1,192,842	2,435,282	2,409,110	2,371,889	2,358,884	2,344,170	2,409,110	2,344,170
Current period other comprehensive income (loss)	2	(46)	(49)	(77)	(44)	(45)	(93)	(166)
Ending balance	1,110,259	1,192,842	2,435,282	2,383,023	2,371,889	2,358,884	1,110,259	2,383,023
Hawaiian Electric Company, Inc. and Subsidiaries | AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,754	2,800	2,849	2,772	2,816	2,861	2,849	2,861
Current period other comprehensive income (loss)	2	(46)	(49)	(77)	(44)	(45)
Ending balance	2,756	$ 2,754	2,800	2,695	$ 2,772	2,816	2,756	2,695
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 2,849			$ 2,861	2,849	2,861
Current period other comprehensive income (loss)							(93)	(166)
Ending balance	$ 2,756			$ 2,695			$ 2,756	$ 2,695

Shareholders' equity - Reclassi

Shareholders' equity - Reclassification out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassifications out of accumulated other comprehensive income/(loss)
Revenues	$ (938,383)	$ (901,873)	$ (2,732,901)	$ (2,725,795)
Interest expense	32,085	32,629	96,076	91,259
Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	3,403	3,676	9,702	11,083
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Revenues	(829,617)	(794,987)	(2,410,526)	(2,419,539)
Total reclassifications	82,087	(43,959)	1,271,262	(137,265)
Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	2	(77)	(93)	(166)
Amortization of unrealized holding losses on held-to-maturity securities | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Revenues	3,366	3,699	9,740	11,065
Net realized gains on derivatives qualifying as cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Interest expense	(52)	(47)	(151)	(143)
Amortization of prior service credit and net gains recognized during the period in net periodic benefit cost | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(1,244)	(446)	(2,138)	(1,160)
Amortization of prior service credit and net gains recognized during the period in net periodic benefit cost | Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(1,331)	(547)	(2,344)	(1,487)
Impact of D&Os of the PUC included in regulatory assets | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	1,333	470	2,251	1,321
Impact of D&Os of the PUC included in regulatory assets | Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	$ 1,333	$ 470	$ 2,251	$ 1,321

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 856,404	$ 822,044	$ 2,428,805	$ 2,435,416
Total revenues from other sources	81,979	79,829	304,096	290,379
Revenues	938,383	901,873	2,732,901	2,725,795
Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	13,475	12,067	38,713	36,370
Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	842,929	809,977	2,390,092	2,399,046
Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	272,541	257,790	758,602	753,207
Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	268,538	257,876	761,788	762,454
Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	294,421	284,607	846,448	855,396
Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,532	4,688	14,087	14,628
Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	13,475	12,067	38,713	36,370
Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2,897	5,016	9,167	13,361
Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	(19,924)	(20,927)	780	3,716
Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	87,655	85,636	261,768	246,856
Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	4,014	3,271	11,750	8,490
Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	10,234	11,849	29,798	31,317
Electric utility
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	840,032	804,961	2,380,925	2,385,685
Total revenues from other sources	(10,415)	(9,974)	29,601	33,854
Revenues	829,617	794,987	2,410,526	2,419,539
Electric utility | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	840,032	804,961	2,380,925	2,385,685
Electric utility | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	272,541	257,790	758,602	753,207
Electric utility | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	268,538	257,876	761,788	762,454
Electric utility | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	294,421	284,607	846,448	855,396
Electric utility | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,532	4,688	14,087	14,628
Electric utility | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	(19,924)	(20,927)	780	3,716
Electric utility | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Electric utility | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Electric utility | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	9,509	10,953	28,821	30,138
Bank
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	13,475	12,067	38,713	36,370
Total revenues from other sources	91,669	88,907	273,518	255,346
Revenues	105,144	100,974	312,231	291,716
Bank | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	13,475	12,067	38,713	36,370
Bank | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	13,475	12,067	38,713	36,370
Bank | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Bank | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	87,655	85,636	261,768	246,856
Bank | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	4,014	3,271	11,750	8,490
Bank | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2,897	5,016	9,167	13,361
Total revenues from other sources	725	896	977	1,179
Revenues	3,622	5,912	10,144	14,540
Other | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2,897	5,016	9,167	13,361
Other | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2,897	5,016	9,167	13,361
Other | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	$ 725	$ 896	$ 977	$ 1,179

Retirement benefits - Narrative

Retirement benefits - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Retirement benefits
Contributions made to defined benefit plans	$ 5	$ 6
Contributions expected to be paid in current year	9	8
Expected payments for remainder of fiscal year	3
Retirement benefits expense	$ 34	33
Number of years for which regulatory asset/liability for each utility will be amortized, beginning with respective utility's next rate case (in years)	5 years
Defined contribution plan, expenses recognized	$ 8.9	7
Cash contributions by the employer to defined contribution plan	8.9	7.6
Hawaiian Electric Company, Inc. and Subsidiaries
Retirement benefits
Contributions made to defined benefit plans	5	6
Contributions expected to be paid in current year	9	8
Expected payments for remainder of fiscal year	1
Retirement benefits expense	34	32
Defined contribution plan, expenses recognized	5.5	4.3
Cash contributions by the employer to defined contribution plan	$ 5.5	$ 4.3

Retirement benefits - Component

Retirement benefits - Components of Net Periodic Benefit Cost for Consolidated HEI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pension benefits
Defined Benefit Plan
Service cost	$ 12,061	$ 11,418	$ 34,590	$ 34,210
Interest cost	26,542	26,022	79,554	77,265
Expected return on plan assets	(35,993)	(35,238)	(107,957)	(105,630)
Amortization of net prior period gain	0	0	0	0
Amortization of net actuarial (gain)/losses	188	138	410	515
Net periodic pension/benefit cost (return)	2,798	2,340	6,597	6,360
Impact of PUC D&Os	17,406	17,663	53,585	53,929
Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os)	20,204	20,003	60,182	60,289
Other benefits
Defined Benefit Plan
Service cost	270	385	833	1,072
Interest cost	1,808	2,075	5,542	6,389
Expected return on plan assets	(3,490)	(3,426)	(10,462)	(10,236)
Amortization of net prior period gain	0	(218)	0	(656)
Amortization of net actuarial (gain)/losses	(763)	(518)	(2,188)	(1,416)
Net periodic pension/benefit cost (return)	(2,175)	(1,702)	(6,275)	(4,847)
Impact of PUC D&Os	2,052	1,536	5,827	4,385
Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os)	(123)	(166)	(448)	(462)
Hawaiian Electric Company, Inc. and Subsidiaries | Pension benefits
Defined Benefit Plan
Service cost	11,670	11,071	33,502	33,108
Interest cost	24,615	24,116	73,869	71,513
Expected return on plan assets	(33,769)	(33,029)	(101,321)	(98,972)
Amortization of net prior period gain	0	0	0	0
Amortization of net actuarial (gain)/losses	51	(16)	74	21
Net periodic pension/benefit cost (return)	2,567	2,142	6,124	5,670
Impact of PUC D&Os	17,406	17,663	53,585	53,929
Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os)	19,973	19,805	59,709	59,599
Hawaiian Electric Company, Inc. and Subsidiaries | Other benefits
Defined Benefit Plan
Service cost	266	380	822	1,060
Interest cost	1,721	1,981	5,279	6,107
Expected return on plan assets	(3,438)	(3,374)	(10,306)	(10,081)
Amortization of net prior period gain	0	(218)	0	(654)
Amortization of net actuarial (gain)/losses	(742)	(503)	(2,130)	(1,370)
Net periodic pension/benefit cost (return)	(2,193)	(1,734)	(6,335)	(4,938)
Impact of PUC D&Os	2,052	1,536	5,827	4,385
Net periodic pension/benefit cost (return) (adjusted for impact of PUC D&Os)	$ (141)	$ (198)	$ (508)	$ (553)

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based compensation
Income tax benefit from compensation expense	$ 0	$ 500,000	$ 300,000	$ 1,600,000
Restricted stock units
Share-based compensation
Fair value of vested stock			1,400,000	3,700,000
Income tax benefit from compensation expense			300,000	800,000
Unrecognized share based compensation	2,200,000		$ 2,200,000
Weighted average period for recognition of unrecognized compensation cost (in years)			1 year 2 months 12 days
Long-term Incentive Plan
Share-based compensation
Payment award, low end of range			0%
Payment award, high end of range			200%
Measurement period for total return to shareholders (in years)			3 years
Award performance period (in years)			3 years
LTIP linked to TRS
Share-based compensation
Fair value of vested stock			$ 0	0
Unrecognized share based compensation	1,500,000		$ 1,500,000
Weighted average period for recognition of unrecognized compensation cost (in years)			1 year 7 months 6 days
LTIP awards linked to other performance conditions
Share-based compensation
Fair value of vested stock			$ 1,700,000	2,900,000
Income tax benefit from compensation expense			400,000	$ 600,000
Unrecognized share based compensation	$ 5,300,000		$ 5,300,000
Weighted average period for recognition of unrecognized compensation cost (in years)			1 year 9 months 18 days
Equity and Incentive Plan
Share-based compensation
Shares available for future issuance (in shares)	2,500,000		2,500,000
Number of share issuable upon vesting and achievement of performance goals (in shares)	900,000		900,000
Nonemployee Director Stock Plan
Share-based compensation
Shares available for future grant (in shares)	168,177		168,177

Share-based compensation - Shar

Share-based compensation - Share-Based Compensation Expense and Related Income Tax Benefit (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based compensation
Share-based compensation expense (benefit)	$ 0.1	$ 2.4	$ 3.2	$ 8.3
Income tax benefit (expense)	0	0.5	0.3	1.6
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based compensation
Share-based compensation expense (benefit)	(0.1)	0.7	1.1	2.5
Income tax benefit (expense)	$ (0.1)	$ 0.1	$ 0.1	$ 0.5

Share-based compensation - Comm

Share-based compensation - Common Stock Granted to Nonemployee Directors (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based compensation
Income tax benefit (expense)	$ 0	$ 0.5	$ 0.3	$ 1.6
Common stock
Share-based compensation
Shares granted (in shares)	0	0	0	40,450
Fair value	$ 0	$ 0	$ 0	$ 1.5
Income tax benefit (expense)	$ 0	$ 0	$ 0	$ 0.4

Share-based compensation - Chan

Share-based compensation - Changes in Share Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restricted stock units
Shares
Outstanding, beginning of period (in shares)	89,869	199,130	189,024	182,528
Granted (in shares)	0	0	0	100,088
Vested (in shares)	0	0	(98,084)	(81,112)
Forfeited (in shares)	0	0	(1,071)	(2,374)
Outstanding, end of period (in shares)	89,869	199,130	89,869	199,130
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0	$ 0	$ 0	$ 4.2
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 42.08	$ 41.22	$ 41.23	$ 39.75
Granted (in dollars per share)	0	0	0	42.41
Vested (in dollars per share)	0	0	40.43	39.37
Forfeited (in dollars per share)	0	0	41.97	41.79
Outstanding, end of period (in dollars per share)	$ 42.08	$ 41.22	$ 42.08	$ 41.22
LTIP linked to TRS
Shares
Outstanding, beginning of period (in shares)	109,262	79,284	76,477	71,574
Granted (in shares)	0	0	62,152	27,123
Vested (in shares)	0	0	(28,577)	(18,691)
Forfeited (in shares)	0	0	(790)	(722)
Outstanding, end of period (in shares)	109,262	79,284	109,262	79,284
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0	$ 0	$ 1.1	$ 1.5
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 33.75	$ 50.28	$ 50.11	$ 47.67
Granted (in dollars per share)	0	0	17.28	55.98
Vested (in dollars per share)	0	0	41.12	48.62
Forfeited (in dollars per share)	0	0	55.64	48.92
Outstanding, end of period (in dollars per share)	$ 33.75	$ 50.28	$ 33.75	$ 50.28
LTIP awards linked to other performance conditions
Shares
Outstanding, beginning of period (in shares)	561,812	357,477	327,085	309,589
Granted (in shares)	0	0	362,963	108,499
Vested (in shares)	0	0	(113,118)	(62,778)
Increase above target (cancelled) (in shares)	(49,603)	4,277	(61,556)	10,278
Forfeited (in shares)	0	0	(3,165)	(3,834)
Outstanding, end of period (in shares)	512,209	361,754	512,209	361,754
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0	$ 0	$ 4.8	$ 4.6
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 23.25	$ 38.78	$ 39.44	$ 39.50
Granted (in dollars per share)	0	0	13.09	42.41
Vested (in dollars per share)	0	0	34.93	48.07
Increase above target (cancelled) (in dollars per share)	41.32	38.02	41.52	37.77
Forfeited (in dollars per share)	0	0	42.06	43.53
Outstanding, end of period (in dollars per share)	$ 21.50	$ 39.17	$ 21.50	$ 39.17

Share-based compensation - Fair

Share-based compensation - Fair Value Assumptions (Details) - LTIP linked to TRS - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free interest rate	4.25%	4.19%
Expected life in years	3 years	3 years
Expected volatility	52.50%	33.10%
Range of expected volatility for Peer Group, minimum rate	12.30%	28.70%
Range of expected volatility for Peer Group, maximum rate	52.50%	38.80%
Grant-date fair value (in dollars per share)	$ 17.28	$ 55.98

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	May 31, 2024
Income Tax Contingency [Line Items]
Effective income tax, percent		26%
Additional tax benefit	$ 1.6
Tax Year 2016 To 2018
Income Tax Contingency [Line Items]
Research and development tax credit that are proposed to be disallowed			$ 8.5
Research and development tax credits			$ 12.9
Income tax credits, net	$ 1

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	$ 175	$ 104
Income taxes paid (including refundable credits)	34	28
Income taxes refunded (including refundable credits)	0	1
Supplemental disclosures of noncash activities
Estimated fair value of noncash contributions in aid of construction (investing)	9	9
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	33	45
Right-of-use assets obtained in exchange for finance lease obligations (financing)	108	76
Right-of-use assets obtained in exchange for operating lease obligations (investing)	4	1
Common stock issued (gross) for director and executive/management compensation (financing)	3	8
Obligations to fund low income housing investments (investing)	0	7
Loans transferred from held for investment to held for sale (investing)	29	95
Transfer of retail repurchase agreements to deposit liabilities (financing)	0	98
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	59	45
Income taxes paid (including refundable credits)	53	38
Income taxes refunded (including refundable credits)	0	2
Supplemental disclosures of noncash activities
Estimated fair value of noncash contributions in aid of construction (investing)	9	9
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	33	43
Right-of-use assets obtained in exchange for finance lease obligations (financing)	$ 107	$ 76

Fair value measurements - Carry

Fair value measurements - Carrying or Notional Amount, Fair Value and Placement in the Fair Value Hierarchy of the Company’s Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financial assets
Available-for-sale investment securities	$ 1,084,083	$ 1,136,439
Held-to-maturity investment securities	$ 1,086,205
Derivative asset, statement of financial position	Other	Other
Financial liabilities
Other bank borrowings	$ 520,000	$ 750,000
Derivative liabilities, statement of financial position	Other	Other
Carrying or notional amount
Financial assets
Available-for-sale investment securities	$ 1,084,083	$ 1,136,439
Held-to-maturity investment securities	1,159,229	1,201,314
Stock in Federal Home Loan Bank	29,204	14,728
Loans, net	5,975,318	6,121,606
Mortgage servicing rights	7,722	8,169
Derivative assets	16,991	16,880
Financial liabilities
Deposit liabilities - time certificates	1,064,978	1,063,907
Other bank borrowings	520,000	750,000
Long-term debt, net	2,836,539	2,842,429
Derivative liabilities	21,867	28,449
Carrying or notional amount | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,934,980	1,934,277
Estimated fair value
Financial assets
Available-for-sale investment securities	1,084,083	1,136,439
Held-to-maturity investment securities	1,086,205	1,103,668
Stock in Federal Home Loan Bank	29,204	14,728
Loans, net	5,672,330	5,738,999
Mortgage servicing rights	17,046	18,722
Derivative assets	802	1,058
Financial liabilities
Deposit liabilities - time certificates	1,058,464	1,053,101
Other bank borrowings	520,677	747,508
Long-term debt, net	2,289,207	2,133,225
Derivative liabilities	116	321
Estimated fair value | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,519,620	1,385,025
Estimated fair value | Quoted prices in active markets for identical assets (Level 1)
Financial assets
Available-for-sale investment securities	0	0
Held-to-maturity investment securities	0	0
Stock in Federal Home Loan Bank	0	0
Loans, net	0	0
Mortgage servicing rights	0	0
Derivative assets	10	0
Financial liabilities
Deposit liabilities - time certificates	0	0
Other bank borrowings	0	0
Long-term debt, net	0	0
Derivative liabilities	0	18
Estimated fair value | Quoted prices in active markets for identical assets (Level 1) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	0	0
Estimated fair value | Significant  other observable  inputs (Level 2)
Financial assets
Available-for-sale investment securities	1,070,148	1,122,081
Held-to-maturity investment securities	1,086,205	1,103,668
Stock in Federal Home Loan Bank	29,204	14,728
Loans, net	2,698	15,176
Mortgage servicing rights	0	0
Derivative assets	792	1,058
Financial liabilities
Deposit liabilities - time certificates	1,058,464	1,053,101
Other bank borrowings	520,677	747,508
Long-term debt, net	2,289,207	2,133,225
Derivative liabilities	116	303
Estimated fair value | Significant  other observable  inputs (Level 2) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,519,620	1,385,025
Estimated fair value | Significant unobservable inputs (Level 3)
Financial assets
Available-for-sale investment securities	13,935	14,358
Held-to-maturity investment securities	0	0
Stock in Federal Home Loan Bank	0	0
Loans, net	5,669,632	5,723,823
Mortgage servicing rights	17,046	18,722
Derivative assets	0	0
Financial liabilities
Deposit liabilities - time certificates	0	0
Other bank borrowings	0	0
Long-term debt, net	0	0
Derivative liabilities	0	0
Estimated fair value | Significant unobservable inputs (Level 3) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	$ 0	$ 0

Fair value measurements - Asset

Fair value measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair value measurements on a recurring basis
Available-for-sale investment securities	$ 1,084,083	$ 1,136,439
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1)
Derivative assets
Derivative assets	10	0
Derivative liabilities
Derivative liabilities	0	18
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank | Forward commitments
Derivative assets
Derivative assets	10	0
Derivative liabilities
Derivative liabilities	0	18
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Interest rate swap (Other segment) | Interest rate swap
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2)
Derivative assets
Derivative assets	792	1,058
Derivative liabilities
Derivative liabilities	116	303
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	1,070,148	1,122,081
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	68	86
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Interest rate swap (Other segment) | Interest rate swap
Derivative assets
Derivative assets	724	972
Derivative liabilities
Derivative liabilities	116	303
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	1,028,627	1,077,168
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	7,597	12,010
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	33,924	32,903
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3)
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	13,935	14,358
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Interest rate swap (Other segment) | Interest rate swap
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	$ 13,935	$ 14,358

Fair value measurements - Chang

Fair value measurements - Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Mortgage revenue bonds - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 14,076	$ 14,630	$ 14,358	$ 14,902
Principal payments received	(141)	(136)	(423)	(408)
Purchases	0	0	0	0
Unrealized gain (loss) included in other comprehensive income	0	0	0	0
Ending balance	$ 13,935	$ 14,494	$ 13,935	$ 14,494

Fair value measurements - Narra

Fair value measurements - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Fair value measurements on a nonrecurring basis | American Savings Bank (ASB)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Adjustments to fair value of loans held for sale	$ 0	$ 0
Weighted average discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage revenue bonds, measurement input	0.0549