Hawaiian Electric Industries
Hawaiian Electric Industries, Inc. (HEI) is the largest supplier of electricity in the U.S. state of Hawaii, supplying power to 95% of Hawaii's population through its electric utilities: Hawaiian Electric Company serving Oahu, Hawai'i Electric Light Company serving The Big Island, and Maui Electric Company serving Maui, Lanai and Molakai. In addition, HEI owns a financial institution serving Hawaii, American Savings Bank, and a clean energy and sustainability company, Pacific Current LLC.
| Company type | Public company |
|---|---|
Traded as |
|
| Founded | October 13, 1891 |
| Headquarters | Honolulu, Hawaii, U.S. |
| Revenue | US$3.742 billion (2022) |
| US$381 million (2022) | |
Net income | US$241 million (2022) |
| Total assets | US$9.546 billion (2022) |
| Total equity | US$468.885 million (2022) |
Number of employees | 2,511 full-time (2022) |
| Subsidiaries | Hawaiian Electric Company, Inc. Hawai'i Electric Light Company, Inc. Maui Electric Company, Limited Pacific Current LLC American Savings Bank |
| Website | hei www |
Hawaiian Electric Company (abbreviated HECO and pronounced HEE-coh), Hilo Electric Light Company (later renamed Hawai'i Electric Light Company, abbreviated HELCO and pronounced HEL-coh), and Maui Electric Company (abbreviated MECO and pronounced MEE-coh) employ more than 2,000 people. Approximately 20,000 Hawaii residents are shareholders of HECO’s parent company, Hawaiian Electric Industries. The company is headquartered in Honolulu.
The island of Kauai is the only Hawaiian island not supplied by HEI. Instead, the consumer-owned Kauai Island Utility Cooperative manages that island's electricity.