v3.26.1
Fair value measurements
 6 Months Ended
Jun. 30, 2026
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.
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.
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
June 30, 2026
Financial assets
HEI consolidated
Money market mutual funds$112,805 $112,805 $— $112,805 
Hawaiian Electric consolidated
Money market mutual funds60,731 60,731 — 60,731 
Financial liabilities
HEI consolidated
Long-term debt, net1
2,265,630 — 1,893,513 1,893,513 
Hawaiian Electric consolidated
Long-term debt, net 2,058,431 — 1,714,930 1,714,930 
December 31, 2025
Financial assets
HEI consolidated
Money market mutual funds$839,380 $839,380 $— $839,380 
Hawaiian Electric consolidated
Money market mutual funds345,510 345,510 — 345,510 
Financial liabilities
HEI consolidated
Long-term debt, net1
2,409,975 — 2,098,593 2,098,593 
Hawaiian Electric consolidated
Long-term debt, net 2,182,833 — 1,895,680 1,895,680 
1    Carrying or notional amount does not include $52 million related to Mahipapa long term debt, net which is included in “Liabilities held for sale” in HEI’s Condensed Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025. See Note 3 for more information.
Assets and liabilities measured at fair value on a recurring basis include money market mutual funds. Money market mutual funds are included in “Cash and cash equivalents” and “Restricted cash” in the HEI’s Condensed Consolidated Balance Sheets.
There were no Level 3 assets or liabilities as of June 30, 2026 and December 31, 2025.