Hawaiian Electric Industries Inc. (HWI)

Overview

Hawaiian Electric Industries, Inc. is a diversified entity that operates primarily in the electric utility industry within the United States, focusing its efforts on the Hawaiian Islands including Oahu, Hawaii, Maui, Lanai, and Molokai. Founded in 1891 and based in Honolulu, Hawaii, the company has expanded its operations to include not just electric utility businesses but also financial services through its federally chartered savings bank subsidiary. Hawaiian Electric Industries engages in a wide array of activities ranging from the production, purchase, transmission, distribution, and sale of electricity, to offering banking and other financial services to consumers and businesses alike. This diversified business model allows the company to meet a broad spectrum of consumer and business needs while contributing to the sustainable energy landscape of Hawaii.

Products and Services

• Electric Utility

  Under its Electric Utility segment, Hawaiian Electric Industries provides a critical service by producing, purchasing, transmitting, distributing, and selling electricity across major Hawaiian Islands. This segment not only powers suburban communities and resorts but also supplies electricity to U.S. Armed Forces installations and supports agricultural operations. To promote sustainability and environmental responsibility, a significant portion of the electricity is generated from renewable sources, including wind, solar, geothermal, wave, hydroelectric, and biofuels, among others.

• Bank

  The Bank segment operates through a federally chartered savings bank subsidiary, offering a comprehensive range of banking and financial services targeted at both consumers and businesses. Services include traditional savings and checking accounts, along with various loan products such as residential and commercial real estate loans, construction and development loans, multifamily residential and commercial real estate loans, consumer loans, and other commercial lending products. This financial arm diversifies the company's portfolio while serving the financial needs of the Hawaiian community.

• Renewable Energy and Sustainable Infrastructure Investments

  As part of its Other segment, Hawaiian Electric Industries invests in non-regulated renewable energy and sustainable infrastructure projects within the State of Hawaii. These investments underscore the company’s commitment to supporting and developing sustainable energy solutions and infrastructure projects that not only cater to the present but are also geared towards future generations. By focusing on renewable energy, the company plays a crucial role in Hawaii's transition towards a more sustainable energy future.