<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM HAWAIIAN ELECTRIC INDUSTRIES, INC. AND SUBSIDIARIES' CONSOLIDATED BALANCE SHEET AS OF JUNE 30, 1998 AND CONSOLIDATED STATEMENT OF INCOME FOR THE SIX MONTHS ENDED JUNE 30, 1998 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> 6-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> JUN-30-1998 <CASH> 253,886 <SECURITIES> 2,132,890 <RECEIVABLES> 150,098 <ALLOWANCES> 0 <INVENTORY> 39,206 <CURRENT-ASSETS> 0 <PP&E> 3,070,668 <DEPRECIATION> 1,022,929 <TOTAL-ASSETS> 8,163,297 <CURRENT-LIABILITIES> 0 <BONDS> 918,861 <PREFERRED-MANDATORY> 83,370 <PREFERRED> 148,293 <COMMON> 659,399 <OTHER-SE> 164,807 <TOTAL-LIABILITY-AND-EQUITY> 8,163,297 <SALES> 0 <TOTAL-REVENUES> 738,093 <CGS> 0 <TOTAL-COSTS> 628,285 <OTHER-EXPENSES> 239 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 36,815 <INCOME-PRETAX> 72,754 <INCOME-TAX> 28,138 <INCOME-CONTINUING> 44,616 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 44,616 <EPS-PRIMARY> 1.40<F1> <EPS-DILUTED> 1.39 <FN> <F1>REPRESENTS BASIC EPS </FN>