<ARTICLE> UT
<LEGEND>
THIS RESTATED SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
HAWAIIAN ELECTRIC COMPANY, INC. AND SUBSIDIARIES' CONSOLIDATED BALANCE SHEET AS
OF SEPTEMBER 30, 1997 AND CONSOLIDATED STATEMENT 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>
<RESTATED> 
<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>                          97,667
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0