EXHIBIT 5

              [Letterhead of Goodsill Anderson Quinn & Stifel LLP]


                                 August 20, 2003

Hawaiian Electric Industries, Inc.
900 Richards Street
Honolulu, Hawaii  96813

Ladies and Gentlemen:

            Hawaiian Electric Industries, Inc., a Hawaii corporation (the
"Company"), has filed Registration Statement on Form S-3 under the Securities
Act of 1933 (the "Registration Statement"), covering an additional 2,500,000
shares of Common Stock, without par value (the "Shares"), together with certain
rights (the "Rights") to purchase shares of the Company's Series A Junior
Participating Preferred Stock, pursuant to the terms of the Rights Agreement,
dated as of October 28, 1997, as amended (the "Rights Agreement"), by and
between the Company and Continental Stock Transfer & Trust Company, as Rights
Agent. One Right will be attached to each share of Common Stock of the Company.
The Shares, together with the Rights attached thereto, will be offered and sold
in connection with the Company's Dividend Reinvestment and Stock Purchase Plan
(the "Plan").

            In connection with this opinion, we have examined originals or
copies of: (i) the Registration Statement; (ii) the Company's Registration
Statement on Form 8-A, which was filed with the Securities and Exchange
Commission (the "Commission") under the Securities Exchange Act of 1934, as
amended, on November 5, 1997; (iii) the Rights Agreement; (iv) the Restated
Articles of Incorporation and By-Laws of the Company, each as amended to the
date hereof; and (v) resolutions of the Board of Directors of the Company dated
April 22, 2002 and October 28, 1997 relating to, among other things, the
adoption of the Rights Agreement, and amendments thereto, and the issuance of
the Rights. To the extent that we have deemed appropriate or necessary as a
basis for the opinions set forth herein, we have also examined originals or
copies of records of the Company and other documents, including certificates of
public officials, and certificates of officers or other representatives of the
Company and others.

            In our examination, we have assumed the genuineness of all
signatures, the legal capacity of all natural persons, the authenticity of all
documents submitted to us as originals, the conformity to original documents of
all documents submitted to us as certified or photostatic copies and the
authenticity of the originals of such latter documents. As to any facts material
to the opinions expressed herein which were not independently verified or
established, we have relied upon statements and representations of officers and
other representatives of the Company, and others.

                                             GOODSILL ANDERSON QUINN & STIFEL
                                         A LIMITED LIABILITY LAW PARTNERSHIP LLP

Hawaiian Electric Industries, Inc.
August 20, 2003
Page Two


            We are members of the Bar of the State of Hawaii and we do not hold
ourselves out as experts on the laws of any other jurisdiction. This opinion is
limited in all respects to matters governed by the laws of the State of Hawaii
and federal laws of the United States of America to the extent specifically
referred to herein. We express no opinion concerning compliance with the laws or
regulations of any other jurisdiction or jurisdictions (including but not
limited to the Blue Sky or other securities laws of such jurisdictions), or as
to the validity, meaning or effect of any act or document under the laws of any
other jurisdiction or jurisdictions.

            Based upon and subject to the foregoing, and the other
qualifications, limitations and assumptions stated below, we are of the opinion
that:

            1. The Company is a corporation duly incorporated, validly existing
and in good standing under the laws of the State of Hawaii.

            2. When the Shares have been duly issued and sold as contemplated in
the Registration Statement, the Shares will be validly issued, fully paid and
nonassessable.

            3. The execution of the Rights Agreement and the issuance and
listing of the Rights have been duly authorized by the Board of Directors on
October 28, 1997.

            4. When distributed in accordance with the Rights Agreement, the
Rights will be validly issued.

            We hereby consent to the filing of this opinion as Exhibit 5 to the
Registration Statement and to the references to our firm under the caption
"Validity of Common Stock" in the Registration Statement, and to the filing of
our opinion of this date concerning tax matters as Exhibit 8 to the Registration
Statement.

                                  Very truly yours,

                                  /s/ Goodsill Anderson Quinn & Stifel
                                       A Limited Liability Law Partnership LLP