<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM HAWAIIAN
ELECTRIC INDUSTRIES, INC. AND SUBSIDIARIES' CONSOLIDATED BALANCE SHEET AS OF
DECEMBER 31, 1997 AND CONSOLIDATED STATEMENT OF INCOME FOR THE YEAR ENDED
DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000354707
<NAME> HAWAIIAN ELECTRIC INDUSTRIES, INC.
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                         254,356
<SECURITIES>                                 1,971,886
<RECEIVABLES>                                  166,018
<ALLOWANCES>                                     7,726
<INVENTORY>                                     45,412
<CURRENT-ASSETS>                                     0
<PP&E>                                       2,994,317
<DEPRECIATION>                                 974,759
<TOTAL-ASSETS>                               7,953,882
<CURRENT-LIABILITIES>                                0
<BONDS>                                        802,575
<PREFERRED-MANDATORY>                           85,770
<PREFERRED>                                    148,293
<COMMON>                                       654,819
<OTHER-SE>                                     159,862
<TOTAL-LIABILITY-AND-EQUITY>                 7,953,882
<SALES>                                              0
<TOTAL-REVENUES>                             1,463,979
<CGS>                                                0
<TOTAL-COSTS>                                1,252,121
<OTHER-EXPENSES>                                 (201)
<LOSS-PROVISION>                                 5,669
<INTEREST-EXPENSE>                              64,607
<INCOME-PRETAX>                                141,783
<INCOME-TAX>                                    55,341
<INCOME-CONTINUING>                             86,442
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    86,442
<EPS-PRIMARY>                                     2.76<F1>
<EPS-DILUTED>                                     2.75
         
<FN> 
<F1> REPRESENTS EPS-BASIC
</FN>