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Hawaiian Electric Industries Inc

Hawaiian Electric Industries, Inc., together with its subsidiaries, operates in the electric utility business. It produces, purchases, transmits, distributes, and sells electricity on the islands of Oahu, Hawaii, Maui, Lanai, and Molokai. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other biofuels. The company also invests in non-regulated renewable energy and sustainable infrastructure in the State of Hawaii, and serves suburban communities, resorts, United States Armed Forces installations, and agricultural operations. Founded in 1891, it is headquartered in Honolulu, Hawaii.

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Hawaiian Electric Q2 Net Income Jumps to $123.2 Million

Hawaiian Electric Industries reported second-quarter 2026 net income of $123.2 million, or $0.71 per share, up from $26.1 million in the prior-year period, driven largely by a $153.9 million non-cash remeasurement of its Maui wildfire settlement liability. Excluding wildfire settlement impacts and Pacific Current asset sale losses, core net income was $22.5 million, or $0.13 per share, down from $35.4 million a year earlier. The company also announced a $170 million base rate increase request over two years, with $125 million proposed to take effect in January 2027, and launched a major renewable energy procurement seeking 1,650 gigawatt-hours of variable renewable energy, 465 megawatts of grid-forming resources, and 111 megawatts of firm generating capacity. Hawaiian Electric received approval to recover $350 million in wildfire mitigation plan spending and plans to securitize those costs to keep customer rates affordable.
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Hawaiian Electric Reports Lower Core Earnings, Advances Securitization for Wildfire Costs

Hawaiian Electric Industries reported a decline in second-quarter 2026 core earnings, with consolidated core net income falling to $22.5 million, or $0.13 per share, from $35.4 million, or $0.20 per share, a year earlier, driven by higher interest expense and O&M costs. The company highlighted regulatory progress, including PUC approval to recover approximately $350 million in wildfire mitigation plan spending and plans to use securitization for cost recovery, which is expected to lower customer costs. Credit ratings improved, with S&P upgrading HEI and Hawaiian Electric to double minus and Moody's upgrading both entities by one notch. The company is advancing a large renewable generation procurement seeking nearly 1,650 GWh of variable renewable energy, 465 MW of grid-forming resources, and 111 MW of firm capacity, and has identified over $1.3 billion in transmission and distribution investments through 2035. However, the PUC denied a request to launch a new RFP for up to 500 MW of additional firm generation, requiring a demonstration of need, and the company expects a loss from performance incentive mechanisms for the full year 2026.
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Hawaiian Electric Seeks Major Expansion of Renewables and Energy Storage Across Three Islands

Hawaiian Electric has submitted its Integrated Grid Planning Request for Proposals, seeking competitively priced renewable energy and storage for Oʻahu, Hawaiʻi Island, and Maui. The solicitation targets nearly 1,650 gigawatt-hours of variable renewable energy, 465 megawatts of grid-forming resources such as solar-plus-battery storage, and 111 megawatts of firm generating capacity, with projects expected in service between 2031 and 2034. The company is also asking the Public Utilities Commission for expedited approval to seek up to an additional 500 megawatts of fuel-flexible firm generation on Oʻahu. CEO Scott Seu said the expedited procurement plan aims to drive competition and build a portfolio that meets efficiency, reliability, and lower carbon goals at the least cost. Hawaiian Electric emphasized it remains open to a range of solutions, including liquefied natural gas, and will launch a request for proposals for all fuels by the end of 2026.
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