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Maui windstorm and wildfires (Tables) | 9 Months Ended
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Sep. 30, 2025
Unusual or Infrequent Items, or Both [Abstract] |
Schedule of Windstorm and Wildfire Expenses | See table below for the incremental expenses related to the Maui windstorm and wildfires.
|  |  | Three months ended September 30, 2025 |  | Nine months ended September 30, 2025
(in thousands) |  |  |  |  | Electric utility |  | HEI Consolidated |  | Electric utility |  | HEI Consolidated
Maui windstorm and wildfires related expenses: |  |  |  |  |  |  |  |  |  |  |
Legal expenses |  |  |  |  | $ | 4,316 |  |  | $ | 5,794 |  |  | $ | 12,469 |  |  | $ | 20,532 |
Wildfire securities-related claims |  |  |  |  | — |  |  | 47,750 |  |  | — |  |  | 47,750 |
Other expense |  |  |  |  | 5,922 |  |  | 6,290 |  |  | 19,821 |  |  | 21,113 |
Total Maui windstorm and wildfires related expenses |  |  |  |  | 10,238 |  |  | 59,834 |  |  | 32,290 |  |  | 89,395 |
Insurance recoveries 1 |  |  |  |  | (430) |  |  | (49,070) |  |  | 126 |  |  | (53,374) |
Deferral treatment approved by the PUC 2 |  |  |  |  | (6,237) |  |  | (6,237) |  |  | (21,809) |  |  | (21,809) |
Total Maui windstorm and wildfires related expenses, net of insurance recoveries and approved deferral treatment |  |  |  |  | $ | 3,571 |  |  | $ | 4,527 |  |  | $ | 10,607 |  |  | $ | 14,212 |
| Three months ended September 30, 2024 |  | Nine months ended September 30, 2024
(in thousands) | Electric utility |  | HEI Consolidated 3 |  | Electric utility |  | HEI Consolidated 3
Maui windstorm and wildfires related expenses: |  |  |  |  |  |  |
Legal expenses | $ | 11,821 |  |  | $ | 17,205 |  |  | $ | 40,169 |  |  | $ | 56,330 |
Wildfire tort-related claims | 203,000 |  |  | 203,000 |  |  | 1,915,000 |  |  | 1,915,000 |
Other expense | 13,429 |  |  | 15,299 |  |  | 36,523 |  |  | 42,244 |
Total Maui windstorm and wildfires related expenses | 228,250 |  |  | 235,504 |  |  | 1,991,692 |  |  | 2,013,574 |
Insurance recoveries | (49,625) |  |  | (52,158) |  |  | (75,973) |  |  | (83,610) |
Deferral treatment approved by the PUC 2 | (8,589) |  |  | (8,589) |  |  | (24,143) |  |  | (24,143) |
Total Maui windstorm and wildfires related expenses, net of insurance recoveries and approved deferral treatment | $ | 170,036 |  |  | $ | 174,757 |  |  | $ | 1,891,576 |  |  | $ | 1,905,821 |
1 HEI consolidated includes insurance recovery related to the proposed settlement of the securities class action of $47.8 million for the three and nine months ended September 30, 2025. Also includes adjustments related to costs that are no longer probable of recovery under the insurance policies. For the three and nine months ended September 30, 2025, HEI consolidated and Electric utility adjustments amount to $1.0 million and $7.6 million, respectively, of which, $0.5 million and $4.5 million were deferred to a regulatory asset, respectively, and are reported on line “Deferral treatment approved by the PUC.” 2 Related to the PUC’s order, received on December 27, 2023, approving deferred accounting treatment for the Utilities’ incremental non-labor expenses related to the August 2023 Maui windstorm and wildfires incurred through December 31, 2024. Pursuant to the PUC order received on February 12, 2025, deferral accounting treatment limited to insurance premiums and outside services and legal costs associated with the asset-based lending facility credit agreement incurred in 2025 was granted. Applicable amounts were deferred to a regulatory asset. 3 Excludes expenses related to discontinued operations amounting to $0.9 million and $1.2 million for the three and nine months ended September 30, 2024, respectively.

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