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Fair value measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of estimated fair values of certain of the Company's financial instruments

The following table presents the carrying or notional amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments.

									Estimated fair value
(in thousands)			Carrying or notional amount						Quoted prices in active markets for identical assets  (Level 1)						Significant other observable inputs (Level 2)						Significant unobservable inputs (Level 3)						Total
December 31, 2022
Financial assets
HEI consolidated
Available-for-sale investment securities			$	1,429,667					$	—					$	1,414,765					$	14,902					$	1,429,667
Held-to-maturity investment securities			1,251,747						—						1,150,971						—						1,150,971
Loans, net			5,907,514						—						821						5,453,381						5,454,202
Mortgage servicing rights			9,047						—						—						17,646						17,646
Derivative assets			16,220						18						1,330						—						1,348
Financial liabilities
HEI consolidated
Deposit liabilities			611,718						—						597,617						—						597,617
Short-term borrowings—other than bank			172,568						—						172,568						—						172,568
Other bank borrowings			695,120						—						695,095						—						695,095
Long-term debt, net—other than bank			2,384,980						—						2,122,605						—						2,122,605
Derivative liabilities			22,949						—						472						—						472
Hawaiian Electric consolidated
Short-term borrowings			87,967						—						87,967						—						87,967
Long-term debt, net			1,684,816						—						1,487,496						—						1,487,496
December 31, 2021
Financial assets
HEI consolidated
Available-for-sale investment securities			$	2,574,618					$	—					$	2,559,191					$	15,427					$	2,574,618
Held-to-maturity investment securities			522,270						—						510,474						—						510,474
Loans, net			5,150,388						—						10,403						5,218,121						5,228,524
Mortgage servicing rights			9,950						—						—						14,480						14,480
Derivative assets			57,377						—						909						—						909
Financial liabilities
HEI consolidated
Deposit liabilities			423,976						—						442,361						—						442,361
Short-term borrowings—other than bank			53,998						—						53,998						—						53,998
Other bank borrowings			88,305						—						88,304						—						88,304
Long-term debt, net—other than bank			2,321,937						—						2,624,130						—						2,624,130
Derivative liabilities			57,000						11						5,271						—						5,282
Hawaiian Electric consolidated
Long-term debt, net			1,676,402						—						1,955,710						—						1,955,710

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis were as follows:

December 31			2022																		2021
			Fair value measurements using																		Fair value measurements using
(in thousands)			Level 1						Level 2						Level 3						Level 1						Level 2						Level 3
Available-for-sale investment securities (bank segment)
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies			$	—					$	1,292,968					$	—					$	—					$	2,437,923					$	—
U.S. Treasury and federal agency obligations			—						81,063						—						—						90,090						—
Corporate bonds			—						40,734						—						—						31,178						—
Mortgage revenue bonds			—						—						14,902						—						—						15,427
			$	—					$	1,414,765					$	14,902					$	—					$	2,559,191					$	15,427
Derivative assets
Interest rate lock commitments (bank segment)1			$	—					$	9					$	—					$	—					$	638					$	—
Forward commitments (bank segment)1			18						—						—						—						—						—
Interest rate swap (Other segment)2			—						1,321						—						—						271						—
			$	18					$	1,330					$	—					$	—					$	909					$	—
Derivative liabilities
Interest rate lock commitments (bank segment)1			$	—					$	—					$	—					$	—					$	—					$	—
Forward commitments (bank segment)1			—						—						—						11						—						—
Interest rate swap (Other segment)2			—						472						—						—						5,271						—
			$	—					$	472					$	—					$	11					$	5,271					$	—

1 Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income.

2    Derivatives are included in other assets and other liabilities in the balance sheets.

Schedule of Level 3 assets and liabilities measured at fair value on a recurring basis

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows:

(in thousands)			2022			2021
Mortgage revenue bonds
Balance, January 1			$	15,427		$	27,185
Principal payments received			(525)			(11,758)
Purchases			—
Unrealized gain (loss) included in other comprehensive income			—			—
Balance, December 31			$	14,902		$	15,427

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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