Hawaiian Electric Industries

To create a resilient, clean energy future by becoming one of the most progressive and highest-performing energy companies.

Hawaiian Electric Industries SWOT Analysis

Updated: October 3, 2025 • 2025-Q4 Analysis

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The Hawaiian Electric Industries SWOT Analysis reveals a company at a critical inflection point, fighting for its survival while holding a mission for a clean energy future. The catastrophic impact of the Maui wildfires has magnified its core weaknesses—aging infrastructure and operational lapses—into existential threats through massive litigation and a collapse of public trust. However, its regulated monopoly and deep operational roots provide a foundation to stand on. The path forward is narrow and perilous. HEI must relentlessly focus its strategy on navigating the legal storm to achieve financial stability, while simultaneously making massive, demonstrable investments in grid hardening and safety. This crisis, if survived, presents a unique opportunity to leverage federal funds and public pressure to build a truly resilient, modern, and safe grid. The company's very existence depends on transforming from a traditional utility into a leader in climate adaptation and public safety, making its mission more urgent than ever.

Kauai Island Utility Cooperative NextEra Energy AES Corporation Sunrun Tesla

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To create a resilient, clean energy future by becoming one of the most progressive and highest-performing energy companies.

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Strengths

MONOPOLY: Captive customer base of 95% of state's population ensures revenue
ASSETS: Extensive existing transmission and distribution infrastructure
SUBSIDIARY: Profitable bank (ASB) provides some financial diversification
EXPERIENCE: Decades of operating complex, isolated island power grids
RENEWABLES: Achieved over 30% RPS, a leader in solar integration

Weaknesses

LIABILITY: Facing catastrophic financial liability from Maui fire litigation
INFRASTRUCTURE: Evidence of aging grid, deferred maintenance, safety lapses
TRUST: Public and investor confidence severely damaged after Maui fires
DEBT: High leverage and suspended dividend signal significant financial distress
OPERATIONS: Outdated safety protocols, particularly for wildfire prevention

Opportunities

REBUILD: Chance to modernize Maui grid with cutting-edge resilient tech
FUNDING: Access to federal funds (IRA, BIL) for grid hardening/renewables
REGULATION: Potential for new regulatory frameworks supporting safety investment
PARTNERSHIPS: Collaborate with tech leaders on climate adaptation solutions
TRANSFORMATION: Use crisis as a catalyst for deep cultural and operational change

Threats

LITIGATION: Potential for bankruptcy due to billions in wildfire claims
REGULATORY: Risk of punitive actions, fines, and restrictive rate cases by PUC
INSURANCE: Dramatically increased cost or unavailability of liability insurance
CLIMATE: Escalating wildfire, hurricane, and drought risks across islands
COMPETITION: Political and public will may shift to alternative utility models

Key Priorities

SURVIVAL: Must navigate litigation and secure financial stability to operate
RESILIENCE: Aggressively harden the grid against escalating climate threats
TRUST: Systematically rebuild credibility with regulators and the public
MODERNIZATION: Accelerate investment in a safe, reliable, renewable-ready grid

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Hawaiian Electric Industries OKR

Updated: October 3, 2025 • 2025-Q4 Analysis

The Hawaiian Electric OKR plan is a masterclass in crisis management, rightly prioritizing financial survival and operational resilience as the bedrock for any future ambition. It wisely converts existential threats from the SWOT into actionable objectives. The focus on restoring stability, hardening the grid, and rebuilding trust creates a powerful, interlocking strategy. This plan doesn't just aim for recovery; it aims for transformation. By setting clear, measurable targets for litigation, safety, and community engagement, HEI can turn its darkest chapter into a catalyst for becoming the resilient, trusted, clean energy leader Hawaii needs. Execution against these OKRs is not just a strategic choice—it is the only path forward to fulfilling its mission.

Kauai Island Utility Cooperative NextEra Energy AES Corporation Sunrun Tesla

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To create a resilient, clean energy future by becoming one of the most progressive and highest-performing energy companies.

RESTORE STABILITY

Navigate legal and financial crises to ensure viability.

LITIGATION: Achieve resolution for over 50% of outstanding wildfire claims through settlement or dismissal.
FINANCING: Secure a multi-year financing plan and an investment-grade credit rating from Moody's or S&P.
RECOVERY: Obtain PUC approval for a securitization plan to recover at least $500M in wildfire-related costs.
BANK: Ensure American Savings Bank maintains its 'well-capitalized' regulatory status with zero disruptions.

FORTIFY THE GRID

Build a resilient grid that withstands climate threats.

HARDENING: Replace or reinforce 10,000 utility poles in high-risk wildfire and wind corridors statewide.
VEGETATION: Achieve a 99% compliance rate on enhanced vegetation management standards across 1,500 miles of lines.
SHUTOFFS: Implement and test a Public Safety Power Shutoff (PSPS) program, validated by third-party experts.
SENSORS: Deploy 500 advanced sensors (weather stations, cameras) in high-risk areas for real-time monitoring.

REBUILD TRUST

Regain confidence of customers, regulators, and community.

TRANSPARENCY: Launch a public dashboard reporting real-time progress on all wildfire safety plan initiatives.
ENGAGEMENT: Conduct 100 community meetings across all islands to share safety plans and gather feedback.
REGULATORY: Eliminate all past-due regulatory filings and achieve a 100% on-time submission rate for the year.
COMMUNICATIONS: Reduce customer service call wait times by 50% and improve satisfaction scores by 15 points.

ADVANCE CLEAN ENERGY

Safely accelerate the transition to 100% renewables.

RPS: Increase Renewable Portfolio Standard from 32% to 38%, exceeding the state mandate for the year.
INTERCONNECTION: Reduce the average wait time for residential solar and battery interconnection by 30%.
STORAGE: Bring two new grid-scale battery storage projects online, adding 150 MWh of capacity.
FOSSIL: Retire at least one fossil fuel-fired generating unit as part of the approved generation transition plan.

METRICS

Renewable Portfolio Standard (RPS): 38%
System Average Interruption Duration Index (SAIDI): < 120 mins
Credit Rating: Investment Grade (BBB-)

VALUES

Safety (Malama)
Integrity (Pono)
Excellence (Po'okela)
Teamwork (Laulima)

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Hawaiian Electric Industries Retrospective

AI-Powered Insights

Claude

Gemini

GPT

HEI Q4 2023 Earnings Report and 10-K Filing
HEI Investor Relations Presentations (2023-2024)
Hawaii Public Utilities Commission (PUC) Filings
News reports from major financial outlets (WSJ, Bloomberg)
HEI Corporate Website (hei.com)

Kauai Island Utility Cooperative NextEra Energy AES Corporation Sunrun Tesla

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To create a resilient, clean energy future by becoming one of the most progressive and highest-performing energy companies.

Toggle Theme

What Went Well

OPERATIONS: Maintained service continuity for the vast majority of customers
FINANCE: Secured critical credit facilities to ensure short-term liquidity
BANK: American Savings Bank remained well-capitalized and stable
REGULATORY: Initiated filings with PUC for wildfire cost recovery mechanisms
LEADERSHIP: Appointed a Chief Restructuring Officer to guide recovery

Not So Well

FINANCIALS: Recorded massive net losses due to wildfire-related charges
STOCK: Share price collapsed over 70%, wiping out billions in market value
DIVIDEND: Suspended quarterly dividend for the first time in company history
LIABILITY: Faced with dozens of lawsuits and billions in potential claims
REPUTATION: Suffered catastrophic damage to public trust and brand image

Learnings

SAFETY: Wildfire mitigation and public safety protocols were insufficient
RISK: Underestimated the financial and operational risk of climate change
COMMUNICATION: Initial crisis communications were inadequate and defensive
MAINTENANCE: The cost of deferred maintenance is exponentially high
INSURANCE: Over-reliance on insurance is not a substitute for prevention

Action Items

PLAN: Fully implement and fund the PUC-approved Wildfire Safety Plan
LEGAL: Develop a comprehensive strategy to resolve wildfire litigation
TRANSPARENCY: Increase proactive communication with public and regulators
HARDENING: Accelerate capital investment in grid hardening and resilience
CULTURE: Instill a 'safety-first' culture throughout the entire organization

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Organization	SWOT Analysis	OKR Plan	Top 6	Retrospective

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Hawaiian Electric Industries Market

AI-Powered Insights

Claude

Gemini

GPT

HEI Q4 2023 Earnings Report and 10-K Filing
HEI Investor Relations Presentations (2023-2024)
Hawaii Public Utilities Commission (PUC) Filings
News reports from major financial outlets (WSJ, Bloomberg)
HEI Corporate Website (hei.com)

Founded: 1891, Kingdom of Hawaii
Market Share: ~95% of Hawaii's population
Customer Base: Residential, commercial, industrial
Category:
Electric Utility
SIC Code: 4911 Electric Services
NAICS Code: 22111 Electric Power GenerationT
Location: Honolulu, Hawaii
Zip Code: 96813
Congressional District: HI-1 HONOLULU
Employees: 3600

Competitors

Kauai Island Utility Cooperative Request Analysis

NextEra Energy View Analysis

AES Corporation Request Analysis

Sunrun View Analysis

Tesla View Analysis

Products & Services

No products or services data available

Distribution Channels

Direct via utility grid

Hawaiian Electric Industries Business Model Analysis

AI-Powered Insights

Claude

Gemini

GPT

HEI Q4 2023 Earnings Report and 10-K Filing
HEI Investor Relations Presentations (2023-2024)
Hawaii Public Utilities Commission (PUC) Filings
News reports from major financial outlets (WSJ, Bloomberg)
HEI Corporate Website (hei.com)

Problem

Need for reliable, safe electricity
Demand for affordable energy
State mandate for 100% clean energy
Extreme vulnerability to climate events

Solution

Electricity generation and distribution
Grid modernization and hardening
Integration of renewable energy sources
Banking and financial services

Key Metrics

Renewable Portfolio Standard (RPS) %
System Average Interruption Duration (SAIDI)
Wildfire mitigation plan milestones
Credit Rating and financial stability

Unique

Sole provider for 95% of state population
Unique expertise in isolated island grids
Vertically integrated utility operations
Holding company with a stable bank sub

Advantage

Regulated monopoly status
High barriers to entry for competitors
Extensive, established infrastructure
Deep, long-standing local presence

Channels

Direct utility grid connection
Website and mobile application
Customer service call centers
American Savings Bank branches

Customer Segments

Residential customers
Commercial and industrial (C&I) clients
Military and government installations
Banking customers (ASB)

Costs

Fuel and purchased power costs
Capital expenditures for grid maintenance
Employee salaries and benefits
Litigation and insurance expenses

Hawaiian Electric Industries Product Market Fit Analysis

Updated: October 3, 2025

Hawaiian Electric is transforming Hawaii's energy landscape. By hardening the grid against climate threats, modernizing infrastructure for ultimate reliability, and leading the transition to 100% renewable sources, it's building a safer, more resilient, and sustainable future for all of Hawaii's communities. This isn't just about power; it's about protecting and empowering the islands for generations to come.

GRID SAFETY: Hardening our grid to protect communities from climate threats.

ENERGY RELIABILITY: Modernizing infrastructure for consistent, dependable power.

CLEAN FUTURE: Leading Hawaii's transition to 100% renewable energy affordably.

Before State

Vulnerable to extreme weather events
Aging and fragile grid infrastructure
Dependent on imported fossil fuels
Reactive maintenance protocols

After State

Hardened, resilient, modern grid
Integrated clean energy sources
Proactive, predictive safety systems
Trusted community energy partner

Negative Impacts

Catastrophic wildfire risk realized
Frequent power outages, low reliability
High, volatile electricity costs
Eroded public and regulatory trust

Positive Outcomes

Drastically reduced wildfire risk
Improved energy reliability and safety
Stable, lower-cost clean energy
Restored investor and public confidence

Key Metrics

Customer Retention Rate

99%+ (Captive)

NPS

Low, significantly damaged post-fire

User Growth Rate

~0.5% annually (pop.)

G2 Reviews

N/A (Utility)

Repeat Purchase Rate

100% (Monopoly)

Requirements

Massive capital investment in grid
Regulatory approval for cost recovery
Successful litigation resolution
Cultural shift to proactive safety

Why Hawaiian Electric Industries

Deploying advanced grid sensors/controls
Aggressive vegetation management
Accelerating renewable interconnections
Transparent community engagement

Hawaiian Electric Industries Competitive Advantage

Monopoly to execute at scale
Access to federal resilience funds
Unique island grid testbed for innovation
Deep local relationships to rebuild

Proof Points

PUC-approved Wildfire Safety Plan
Secured post-crisis credit facilities
Continued progress on RPS goals
Deployment of grid-scale batteries

Hawaiian Electric Industries Market Positioning

AI-Powered Insights

Claude

Gemini

GPT

HEI Q4 2023 Earnings Report and 10-K Filing
HEI Investor Relations Presentations (2023-2024)
Hawaii Public Utilities Commission (PUC) Filings
News reports from major financial outlets (WSJ, Bloomberg)
HEI Corporate Website (hei.com)

Strategic pillars derived from our vision-focused SWOT analysis

Harden grid against climate threats; exceed safety standards

Integrate 100% renewable sources into a modernized grid

Resolve litigation and secure a viable financial future

Rebuild community and regulatory confidence via transparency

What You Do

Generate and deliver electricity

Target Market

95% of Hawaii residents and businesses

Differentiation

Sole electricity provider for major islands
Deep institutional knowledge of Hawaii

Revenue Streams

Regulated electricity sales
Banking services via subsidiary

Hawaiian Electric Industries Operations and Technology

AI-Powered Insights

Claude

Gemini

GPT

HEI Q4 2023 Earnings Report and 10-K Filing
HEI Investor Relations Presentations (2023-2024)
Hawaii Public Utilities Commission (PUC) Filings
News reports from major financial outlets (WSJ, Bloomberg)
HEI Corporate Website (hei.com)

Company Operations

Organizational Structure: Holding co. with utility/bank subs
Supply Chain: Fuel oil imports, renewable IPPs
Tech Patents: Focus on grid tech integration
Website: https://www.hei.com/

Top Clients

Board Members

Hawaiian Electric Industries Competitive Forces

Threat of New Entry

VERY LOW: Extremely high capital costs, complex regulatory hurdles, and HEI's established position make new utility entry nearly impossible.

Supplier Power

HIGH: Historically dependent on global oil markets for fuel. Power from Independent Power Producers (IPPs) is set by long-term contracts.

Buyer Power

MEDIUM: Individual customers have no power, but the Public Utilities Commission (PUC) acts as a powerful proxy for all buyers, dictating rates.

Threat of Substitution

MEDIUM: Rooftop solar and battery storage (DERs) are a growing substitute, reducing reliance on the grid and utility revenues.

Competitive Rivalry

LOW: As a regulated monopoly in its service territories, direct competition for transmission and distribution is virtually nonexistent.

Analysis of AI Strategy

Updated: October 3, 2025 • 2025-Q4 Analysis

The Hawaiian Electric Industries AI SWOT Analysis underscores a critical opportunity to transform its greatest vulnerability—climate risk—into a core competency. HEI is sitting on a goldmine of proprietary grid and weather data that, if properly leveraged, can power AI models for predictive wildfire and storm mitigation, moving from a reactive to a preventative safety posture. The primary obstacles are internal: a lack of AI talent, legacy systems, and a culture resistant to rapid technological change. The strategic imperative is clear: partner with leading AI firms to immediately deploy proven solutions for vegetation management and risk modeling. In the long term, HEI must build a foundational data science capability to optimize the integration of renewables and create a truly intelligent, resilient grid. AI is not a luxury for HEI; it is an essential tool for survival and for fulfilling its mission in a new climate reality.

Kauai Island Utility Cooperative NextEra Energy AES Corporation Sunrun Tesla

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To create a resilient, clean energy future by becoming one of the most progressive and highest-performing energy companies.

Strengths

DATA: Possesses vast, proprietary grid operational and weather data sets
SCALE: Centralized utility structure allows for system-wide AI deployment
TESTBED: Isolated island grids are ideal for testing AI-driven controls
PARTNERS: Existing relationships with national labs and tech vendors (EPRI)
NEED: Clear, urgent business case for AI in wildfire and storm prediction

Weaknesses

TALENT: Lack of in-house AI and data science expertise and leadership
SYSTEMS: Legacy IT and OT systems may hinder modern AI/ML integration
DATA-QUALITY: Grid data may be siloed, unstructured, or of varying quality
CULTURE: Risk-averse utility culture may resist AI-driven automation
INVESTMENT: Limited capital for large-scale AI projects amid financial crisis

Opportunities

PREDICTION: Use AI for predictive modeling of wildfire and hurricane impacts
MAINTENANCE: AI-powered vegetation management using satellite/drone imagery
GRID: Optimize grid operations with fluctuating renewables and DERs via AI
SENSORS: Analyze data from new grid sensors for real-time fault detection
EFFICIENCY: AI-driven load forecasting to reduce reliance on fossil fuels

Threats

CYBERSECURITY: AI systems are a new, high-value target for cyber attacks
RELIANCE: Over-reliance on flawed AI models could lead to catastrophic failure
BIAS: Algorithmic bias in load shedding or investment decisions
COST: High cost of implementation and talent acquisition for uncertain ROI
REGULATION: Regulatory scrutiny over 'black box' AI decision-making in operations

Key Priorities

RISK-AI: Prioritize AI for predictive wildfire and climate risk mitigation
GRID-AI: Leverage AI to optimize renewable integration and grid stability
ASSET-AI: Deploy AI for predictive maintenance of critical infrastructure
DATA-AI: Build a unified data platform to enable effective AI modeling

Create professional SWOT analyses in minutes with our AI template. Get insights that drive real results.

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Hawaiian Electric Industries Financial Performance

AI-Powered Insights

Claude

Gemini

GPT

HEI Q4 2023 Earnings Report and 10-K Filing
HEI Investor Relations Presentations (2023-2024)
Hawaii Public Utilities Commission (PUC) Filings
News reports from major financial outlets (WSJ, Bloomberg)
HEI Corporate Website (hei.com)

Profit: FY2023 Net Income: -$84.3M

Market Cap: ~$1.4 Billion (as of late 2023)

Stock Performance

Annual Report: View Report

Debt: Long-term debt over $3.5 Billion

ROI Impact: Negative ROI due to wildfire costs

SWOT Index

Composite strategic assessment with 10-year outlook

/ 100

Legacy Incumbent (In Crisis)

ICM Index

STRATEGIC ADVISOR ASSESSMENT

HEI's Iconic Index is severely depressed by its existential crisis. While the ambition of its mission is high (societal), its achievability is crippled by litigation and financial distress. The SWOT factors score reflects an overwhelming downside risk. The OKRs are strong and focused on survival, not world-shaping growth. The low growth multiplier reflects a high probability of bankruptcy or forced reorganization, making traditional growth prediction irrelevant. The primary lever is survival.

SWOT Factors

Upside: 53.0 Risk: 97.0

OKR Impact

AI Leverage

Top 3 Strategic Levers

SURVIVAL: Resolve wildfire litigation to ensure financial viability

RESILIENCE: Execute grid hardening plan to mitigate future risk

TRUST: Rebuild regulatory and public confidence for rate recovery

AI Disclosure

This report was created using the Alignment Method—our proprietary process for guiding AI to reveal how it interprets your business and industry. These insights are for informational purposes only and do not constitute financial, legal, tax, or investment advice.

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