<ARTICLE> UT
<LEGEND> 
This schedule contains summary financial information extracted from Hawaiian 
Electric Company, Inc. and subsidiaries' consolidated balance sheet as of March 
31, 1995 and consolidated statement of income and consolidated statement of cash
flows for the three months ended March 31, 1995 and is qualified in its 
entirety by reference to such financial statements. 
</LEGEND>
<CIK> 0000046207
<NAME> HAWAIIAN ELECTRIC CO., INC.
<MULTIPLIER> 1,000
       
                                         
<PERIOD-TYPE>                                   3-MOS
<FISCAL-YEAR-END>                         DEC-31-1995
<PERIOD-START>                            JAN-01-1995
<PERIOD-END>                              MAR-31-1995
<BOOK-VALUE>                                 PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                   1,621,143
<OTHER-PROPERTY-AND-INVEST>                         0
<TOTAL-CURRENT-ASSETS>                        138,294
<TOTAL-DEFERRED-CHARGES>                       10,427      
<OTHER-ASSETS>                                125,584       
<TOTAL-ASSETS>                              1,895,448         
<COMMON>                                       78,766
<CAPITAL-SURPLUS-PAID-IN>                     246,629       
<RETAINED-EARNINGS>                           315,408       
<TOTAL-COMMON-STOCKHOLDERS-EQ>                640,803       
<PREFERRED-MANDATORY>                          41,070      
<PREFERRED>                                    48,293      
<LONG-TERM-DEBT-NET>                          505,520       
<SHORT-TERM-NOTES>                                  0 
<LONG-TERM-NOTES-PAYABLE>                           0 
<COMMERCIAL-PAPER-OBLIGATIONS>                105,467       
<LONG-TERM-DEBT-CURRENT-PORT>                   9,903     
<PREFERRED-STOCK-CURRENT>                       2,370     
<CAPITAL-LEASE-OBLIGATIONS>                         0 
<LEASES-CURRENT>                                    0 
<OTHER-ITEMS-CAPITAL-AND-LIAB>                542,022       
<TOT-CAPITALIZATION-AND-LIAB>               1,895,448         
<GROSS-OPERATING-REVENUE>                     231,176       
<INCOME-TAX-EXPENSE>                           11,174      
<OTHER-OPERATING-EXPENSES>                    196,796       
<TOTAL-OPERATING-EXPENSES>                    207,970       
<OPERATING-INCOME-LOSS>                        23,206      
<OTHER-INCOME-NET>                              3,604     
<INCOME-BEFORE-INTEREST-EXPEN>                 26,810      
<TOTAL-INTEREST-EXPENSE>                        9,971     
<NET-INCOME>                                   15,800      
<PREFERRED-STOCK-DIVIDENDS>                     1,039     
<EARNINGS-AVAILABLE-FOR-COMM>                  15,800      
<COMMON-STOCK-DIVIDENDS>                        8,927     
<TOTAL-INTEREST-ON-BONDS>                      35,096      
<CASH-FLOW-OPERATIONS>                         35,199      
<EPS-PRIMARY>                                       0
<EPS-DILUTED>                                       0