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Share-based compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense and Related Income Tax Benefit
Share-based compensation expense and the related income tax benefit from continuing operations were as follows:
 Three months ended June 30Six months ended June 30
(in millions)2025202420252024
HEI consolidated
Share-based compensation expense 1
$2.8 $1.6 $3.5 $2.5 
Income tax benefit0.5 0.1 0.5 0.2 
Hawaiian Electric consolidated
Share-based compensation expense 1
1.3 0.8 1.8 1.2 
Income tax benefit
0.2 0.1 0.3 0.1 
1    For the three and six months ended June 30, 2025 and 2024, the Company has not capitalized any share-based compensation.
Schedule of Common Stock Granted to Non-employee Directors HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows:
Three months ended June 30Six months ended June 30
(dollars in millions)2025202420252024
Shares granted117,590 — 117,590 — 
Fair value$1.2 $— $1.2 $— 
Income tax benefit0.3 — 0.3 — 
Schedule of Restricted Stock Units Information about HEI’s grants of restricted stock units was as follows:
Three months ended June 30Six months ended June 30
 2025202420252024
Shares(1)Shares(1)Shares(1)Shares(1)
Outstanding, beginning of period22,172 $42.41 90,903 $42.11 65,628 $42.09 189,024 $41.23 
Granted— — — — — — — — 
Vested— — (1,034)44.31 (42,452)41.92 (98,084)40.43 
Forfeited— — — — (1,004)42.41 (1,071)41.97 
Outstanding, end of period22,172 $42.41 89,869 $42.08 22,172 $42.41 89,869 $42.08 
Total weighted-average grant-date fair value of shares granted (in millions)$— $— $— $— 
(1)    Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.
Schedule of Long-Term Incentive Plan (LTIP) Linked to Total Return to Shareholders Information about HEI’s LTIP grants linked to TSR was as follows:
Three months ended June 30Six months ended June 30
 2025202420252024
Shares(1)Shares(1)Shares(1)Shares(1)
Outstanding, beginning of period543,467 $13.50 109,643 $33.82 98,441 $31.36 76,477 $50.11 
Granted — — — — 462,313 11.25 62,152 17.28 
Vested (issued or unissued and cancelled)— — — — (17,287)54.92 (28,577)41.12 
Forfeited— — (381)55.66 — — (790)55.64 
Outstanding, end of period543,467 $13.50 109,262 $33.75 543,467 $13.50 109,262 $33.75 
Total weighted-average grant-date fair value of shares granted (in millions)$— $— $5.2 $1.1 
(1)    Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of Long-Term Incentive Plan Assumptions
The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted:
20252024
Risk-free interest rate4.37%4.25%
Expected life in years33
Expected volatility64.7%52.5%
Range of expected volatility for Peer Group
15.3% to 64.7%
12.3% to 52.5%
Grant-date fair value (per share) (HEI)
$11.39 $17.28 
Grant-date fair value (per share) (Hawaiian Electric)
$11.12 $17.28 
Schedule of Long-Term Incentive Plan (LTIP) Linked to Other Performance Conditions Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows:
Three months ended June 30Six months ended June 30
2025202420252024
 Shares(1)Shares (1)Shares(1)Shares(1)
Outstanding, beginning of period438,967 $18.17 574,744 $23.68 438,967 $18.17 327,085 $39.44 
Granted — — — — — — 362,963 13.09 
Vested — — — — — — (113,118)34.93 
Increase above target/(cancelled) due to performance
— — (11,407)42.37 — — (11,953)42.32 
Forfeited— — (1,525)42.07 — — (3,165)42.06 
Outstanding, end of period438,967 $18.17 561,812 $23.25 438,967 $18.17 561,812 $23.25 
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)$— $— $— $4.8 
(1)    Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.