<ARTICLE> UT
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM HAWAIIAN
ELECTRIC COMPANY, INC. AND SUBSIDIARIES' CONSOLIDATED BALANCE SHEET AS OF JUNE
30, 1998 AND CONSOLIDATED STATEMENT OF INCOME AND CASH FLOWS FOR THE SIX MONTHS
ENDED JUNE 30, 1998 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>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                    1,916,010
<OTHER-PROPERTY-AND-INVEST>                          0
<TOTAL-CURRENT-ASSETS>                         154,919
<TOTAL-DEFERRED-CHARGES>                        12,743
<OTHER-ASSETS>                                 146,418
<TOTAL-ASSETS>                               2,230,090
<COMMON>                                        85,387
<CAPITAL-SURPLUS-PAID-IN>                      296,332
<RETAINED-EARNINGS>                            410,207
<TOTAL-COMMON-STOCKHOLDERS-EQ>                 791,926
<PREFERRED-MANDATORY>                           81,775
<PREFERRED>                                     48,293
<LONG-TERM-DEBT-NET>                           603,307
<SHORT-TERM-NOTES>                                   0
<LONG-TERM-NOTES-PAYABLE>                            0
<COMMERCIAL-PAPER-OBLIGATIONS>                 108,945
<LONG-TERM-DEBT-CURRENT-PORT>                   30,000
<PREFERRED-STOCK-CURRENT>                        1,595
<CAPITAL-LEASE-OBLIGATIONS>                          0
<LEASES-CURRENT>                                     0
<OTHER-ITEMS-CAPITAL-AND-LIAB>                 564,249
<TOT-CAPITALIZATION-AND-LIAB>                2,230,090
<GROSS-OPERATING-REVENUE>                      498,247
<INCOME-TAX-EXPENSE>                            25,560
<OTHER-OPERATING-EXPENSES>                     418,283
<TOTAL-OPERATING-EXPENSES>                     443,843
<OPERATING-INCOME-LOSS>                         54,404
<OTHER-INCOME-NET>                               9,964
<INCOME-BEFORE-INTEREST-EXPEN>                  64,368
<TOTAL-INTEREST-EXPENSE>                        24,686
<NET-INCOME>                                    39,682
<PREFERRED-STOCK-DIVIDENDS>                      1,731
<EARNINGS-AVAILABLE-FOR-COMM>                   37,951
<COMMON-STOCK-DIVIDENDS>                        15,326
<TOTAL-INTEREST-ON-BONDS>                       44,545
<CASH-FLOW-OPERATIONS>                          55,101
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0