<ARTICLE> 5
<LEGEND>
THIS RESTATED SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
HAWAIIAN ELECTRIC INDUSTRIES, INC. AND SUBSIDIARIES' CONSOLIDATED BALANCE SHEET
AS OF DECEMBER 31, 1996 AND CONSOLIDATED STATEMENT OF INCOME FOR THE YEAR ENDED
DECEMBER 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<CIK> 0000354707
<NAME> HAWAIIAN ELECTRIC INDUSTRIES, INC.
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                          97,417
<SECURITIES>                                 1,377,591
<RECEIVABLES>                                  155,730
<ALLOWANCES>                                     4,872
<INVENTORY>                                     48,745
<CURRENT-ASSETS>                                     0
<PP&E>                                       2,831,822
<DEPRECIATION>                                 890,055
<TOTAL-ASSETS>                               5,935,840
<CURRENT-LIABILITIES>                                0
<BONDS>                                        810,080
<PREFERRED-MANDATORY>                           38,955
<PREFERRED>                                     48,293
<COMMON>                                       622,945
<OTHER-SE>                                     149,907
<TOTAL-LIABILITY-AND-EQUITY>                 5,935,840
<SALES>                                              0
<TOTAL-REVENUES>                             1,410,572
<CGS>                                                0
<TOTAL-COSTS>                                1,217,890
<OTHER-EXPENSES>                              (11,074)
<LOSS-PROVISION>                                 4,436
<INTEREST-EXPENSE>                              65,832
<INCOME-PRETAX>                                133,488
<INCOME-TAX>                                    54,830
<INCOME-CONTINUING>                             78,658
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    78,658
<EPS-PRIMARY>                                     2.60<F1>
<EPS-DILUTED>                                     2.59
        
<FN> 
<F1> REPRESENTS EPS-BASIC
</FN>