<ARTICLE> UT <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM HAWAIIAN ELECTRIC COMPANY, INC. AND SUBSIDIARIES' CONSOLIDATED BALANCE SHEET AS OF SEPTEMBER 30, 1997 AND CONSOLIDATED STATEMENTS OF INCOME AND CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <CIK> 0000046207 <NAME> HAWAIIAN ELECTRIC COMPANY, INC. <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> SEP-30-1997 <BOOK-VALUE> PER-BOOK <TOTAL-NET-UTILITY-PLANT> 1,876,652 <OTHER-PROPERTY-AND-INVEST> 0 <TOTAL-CURRENT-ASSETS> 171,050 <TOTAL-DEFERRED-CHARGES> 11,904 <OTHER-ASSETS> 141,408 <TOTAL-ASSETS> 2,201,014 <COMMON> 85,387 <CAPITAL-SURPLUS-PAID-IN> 296,231 <RETAINED-EARNINGS> 384,003 <TOTAL-COMMON-STOCKHOLDERS-EQ> 765,621 <PREFERRED-MANDATORY> 84,375 <PREFERRED> 48,293 <LONG-TERM-DEBT-NET> 597,718 <SHORT-TERM-NOTES> 2,900 <LONG-TERM-NOTES-PAYABLE> 0 <COMMERCIAL-PAPER-OBLIGATIONS> 113,607 <LONG-TERM-DEBT-CURRENT-PORT> 0 <PREFERRED-STOCK-CURRENT> 1,695 <CAPITAL-LEASE-OBLIGATIONS> 0 <LEASES-CURRENT> 0 <OTHER-ITEMS-CAPITAL-AND-LIAB> 586,805 <TOT-CAPITALIZATION-AND-LIAB> 2,201,014 <GROSS-OPERATING-REVENUE> 824,762 <INCOME-TAX-EXPENSE> 38,848 <OTHER-OPERATING-EXPENSES> 703,757 <TOTAL-OPERATING-EXPENSES> 742,605 <OPERATING-INCOME-LOSS> 82,157 <OTHER-INCOME-NET> 14,233 <INCOME-BEFORE-INTEREST-EXPEN> 96,390 <TOTAL-INTEREST-EXPENSE> 35,890 <NET-INCOME> 60,500 <PREFERRED-STOCK-DIVIDENDS> 2,746 <EARNINGS-AVAILABLE-FOR-COMM> 57,754 <COMMON-STOCK-DIVIDENDS> 41,521 <TOTAL-INTEREST-ON-BONDS> 40,894 <CASH-FLOW-OPERATIONS> 95,621 <EPS-PRIMARY> 0 <EPS-DILUTED> 0