Hawaiian Electric Industries reported second quarter 2026 GAAP net income of $123 million, or $0.71 per diluted share, compared to $26 million in the prior year period. This increase was primarily driven by a $101 million after-tax non-cash gain from remeasuring the remaining Maui wildfire settlement liability to present value. Excluding these wildfire-related items and expenses associated with the strategic review of Pacific Current, Core net income was $22 million, or $0.13 per share, down from $35 million in 2025. Hawaiian Electric Company's net income rose to $138 million from $39 million, largely due to a $154 million pre-tax benefit from the liability remeasurement and insurance recoveries. The company also noted PUC approval of its Wildfire Mitigation Plan costs for securitization and submitted one of its largest energy solicitations for regulatory review. Hawaiian Electric Industries operates as a holding company for electric utilities supplying power to approximately 95% of Hawaii's population.

On July 27, 2026, Hawaiian Electric Company entered into a new Power Purchase Agreement with Kalaeloa Partners L.P. to repower its LSFO-fired combined-cycle facility for renewable energy qualification under Hawaii law. The agreement secures 208 MW of firm capacity for 30 years following commercial operation, replacing the existing contract terminating in early 2033. Key financial terms include a reduced fixed capacity charge of $93/kW/year compared to the previous $100/kW/year, alongside updated variable and fixed operations and maintenance charges escalating with the GDP implicit price deflator. Effectiveness is contingent upon approval by the Public Utilities Commission of the State of Hawaii. Hawaiian Electric Industries operates in the electric utility industry, providing electricity generation and distribution services primarily in Hawaii.