Hawaiian Electric Industries, Inc. (HEI) is a holding company that primarily operates as an electric utility in the state of Hawaii. Through its principal subsidiary, Hawaiian Electric Company, it generates, transmits, and distributes electricity to approximately 95% of the state's population across the islands of Oahu, Hawaii, Maui, Lanai, and Molokai. Operating isolated island grids requires specialized management of energy resources, and the company is actively transitioning its infrastructure to integrate geothermal, solar, and wind projects to meet Hawaii's mandate of 100% renewable energy by 2045. Historically, HEI also operated a significant financial services segment through its ownership of American Savings Bank. However, the company sold a 90.1% stake in the bank in late 2024 to focus on its core utility operations and strengthen its balance sheet following the 2023 Maui wildfires. Additionally, HEI invests in non-regulated clean energy and sustainable infrastructure through its Pacific Current subsidiary.
