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Fair value measurements
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair value measurements Fair value measurements
Fair value measurement and disclosure valuation methodology. The following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value:
Money market mutual funds. The Company considers all liquid investments purchased with an initial maturity of three months or less and deposits in money market mutual funds that are readily convertible into cash to be cash equivalents. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these instruments.
Short-term borrowings.  The carrying amount of short-term borrowings approximated fair value because of the short maturity of these instruments.
Long-term debt.  Fair value of fixed-rate long-term debt was obtained from third-party financial services providers based on the current rates offered for debt of the same or similar remaining maturities and from discounting the future cash flows using the current rates offered for debt of the same or similar risks, terms, and remaining maturities. The carrying amount of floating rate long-term debt approximated fair value because of the short-term interest reset periods. Long-term debt is classified in Level 2 of the valuation hierarchy.
Interest rate swaps. The Company measures its interest rate swaps at fair value. The fair values of the Company's interest rate swaps are based on the estimated amounts that the Company would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The fair values of the Company's interest rate swaps are classified as a Level 2 measurements.
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 amountQuoted prices in
active markets
for identical assets
 (Level 1)		Significant
 other observable
 inputs
 (Level 2)		Total
March 31, 2025    
Financial assets    
HEI consolidated
Money market mutual funds$1,049,070 $1,049,070 $— $1,049,070 
Derivative assets28,892 — 1,114 1,114 
Hawaiian Electric consolidated
Money market mutual funds72,329 72,329 — 72,329 
Financial liabilities   
HEI consolidated
Short-term borrowings, net
48,738 — 48,738 48,738 
Long-term debt, net
2,617,963 — 2,131,016 2,131,016 
Hawaiian Electric consolidated
Short-term borrowings, net
48,738 — 48,738 48,738 
Long-term debt, net 1,809,424 — 1,377,233 1,377,233 
December 31, 2024    
Financial assets    
HEI consolidated
Money market mutual funds$1,162,259 $1,162,259 $— $1,162,259 
Derivative assets29,312 — 1,629 1,629 
Hawaiian Electric consolidated
Money market mutual funds115,599 115,599 — 115,599 
Financial liabilities   
HEI consolidated
Short-term borrowings, net
48,623 — 48,623 48,623 
Long-term debt, net
2,799,558 — 2,196,403 2,196,403 
Hawaiian Electric consolidated
Short-term borrowings, net
48,623 — 48,623 48,623 
Long-term debt, net 1,901,214 — 1,446,316 1,446,316 
Assets and liabilities measured at fair value on a recurring basis include money market mutual funds and derivative assets and liabilities as included in the table above. Money market mutual funds are included in “Cash and cash equivalents” and “Restricted cash” in the Condensed Consolidated Balance Sheets. Derivatives are included in “Other noncurrent assets” and “Other noncurrent liabilities” in the Condensed Consolidated Balance Sheets.
There were no Level 3 assets as of March 31, 2025 and December 31, 2024.