Molly Ayala
Hawaiian Electric Company, Ltd., also known as Hawaiian Electric, is a leading provider of electricity and related services in Hawaii. Established in 1891, the company has a long history of powering the growth and development of the Hawaiian Islands. With a commitment to providing affordable, reliable, and sustainable energy, Hawaiian Electric serves 95% of the state's 1.4 million residents across several islands. The company has been recognised for its adoption of solar energy and support for the state's goal of achieving 100% renewable energy by 2045. Hawaiian Electric's leadership team includes prominent figures such as Shelee Kimura, Paul Ito, and Alberts, who oversee various aspects of the company's operations and strategic direction.
| Characteristics | Values |
|---|---|
| Date of Incorporation | 13 October 1891 |
| Leadership | Shelee Kimura (President and CEO) |
| Areas Served | Oahu, Hawaii, Maui, Lanai and Molokai |
| Customer Base | 95% of Hawaii's 1.4 million residents |
| Energy Sources | Solar energy, renewable energy |
| Affiliates | Maui Electric Company |
| Achievements | Honored for Solar Energy Adoption by the Solar Electric Power Association in 2012 |
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What You'll Learn
Hawaiian Electric Industries Inc. stock major holders
Hawaiian Electric Industries, Inc. (HE) is the parent company of Hawaiian Electric Company, serving 95% of Hawaii's population across the islands of Oahu, Hawaii, Maui, Lanai, and Molokai. Here is an overview of the major stockholders of Hawaiian Electric Industries, Inc:
- AEP American Electric Power Company, Inc.: One of the largest electric utilities in the US, American Electric Power Company, Inc. (AEP) is a holding company for multiple electric utility businesses.
- ED Consolidated Edison, Inc.: Consolidated Edison, Inc. (ED) is a regulated utility company that provides electricity, gas, and steam services to customers in New York City and Westchester County.
- NEE-PT NextEra Energy, Inc.: NextEra Energy, Inc. (NEE) is one of the largest electric power and energy infrastructure companies in North America, with a focus on clean energy solutions.
- IDCC InterDigital, Inc.: InterDigital, Inc. (IDCC) is a wireless technology research and development company that designs and licenses digital wireless technologies.
- COHR Coherent Corp.: Coherent Corp. (COHR) is a global provider of laser and optical technology solutions for a variety of industries, including microelectronics, materials processing, and life sciences.
- TNXP Tonix Pharmaceuticals Holding Corp.: Tonix Pharmaceuticals Holding Corp. (TNXP) is a biopharmaceutical company focused on developing vaccines and treatments for infectious diseases and central nervous system disorders.
- WEX WEX Inc.: WEX Inc. (WEX) is a provider of corporate payment solutions and fleet card payment processing services.
- HII Huntington Ingalls Industries, Inc.: Huntington Ingalls Industries, Inc. (HII) is an industrial conglomerate and the largest military shipbuilding company in the United States.
- PLTR Palantir Technologies Inc.: Palantir Technologies Inc. (PLTR) is a software and data analytics company that provides tools for integrating and analyzing large sets of data for enterprises and governments.
- LCID Lucid Group, Inc.: Lucid Group, Inc. (LCID) is an electric vehicle manufacturer known for its advanced luxury electric vehicles and energy storage systems.
These companies represent some of the major stockholders in Hawaiian Electric Industries, Inc., each bringing their own expertise and contributing to the overall operations and strategic direction of the company.
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Leadership team
Hawaiian Electric Company, Ltd. was incorporated on October 13, 1891. It serves 95% of Hawaii's 1.4 million residents on the islands of Oahu, Maui, Hawaii, Lanai, and Molokai. The company is headquartered in Honolulu, and the island of Kauai is the only Hawaiian island not supplied by its parent company, Hawaiian Electric Industries (HEI).
Shelee Kimura is the president and chief executive officer of Hawaiian Electric. Appointed in January 2022, she previously served as senior vice president of Customer Service & Public Affairs and senior vice president of Business Development & Strategic Planning. She provided leadership for the company's customer care initiatives during the COVID-19 pandemic and made equity and access a top priority while improving customer satisfaction and stakeholder engagement. Kimura also led the development of Hawaiian Electric's 2015-2020 Strategic Transformation Plan, strengthening and growing the Hawaii market for affordable, clean energy resources, and launching the electric transportation division.
Paul Ito serves as the Senior Vice President, Chief Financial Officer, and Treasurer of Hawaiian Electric. He is responsible for optimizing the company's financial performance and oversees corporate and regulatory accounting, financial planning and analysis, budgeting, risk management, and treasury. Ito previously served as CFO at HEI and has been with the company since 2018, also serving as vice president of tax, controller, and treasurer. Prior to joining HEI, he held various leadership roles at Alexander & Baldwin, Inc. (A&B), including senior vice president, CFO, and treasurer.
Jason Benn is the Senior Vice President and Chief Transformation & Administrative Officer. He is responsible for driving organizational transformation and effectiveness, ensuring alignment with the company's vision, values, and strategic outcomes. Benn oversees Human Resources, Government and Community Relations, Corporate Communications, Information Technology, and Corporate Strategy. He has been with Hawaiian Electric since 1997, holding various information technology positions.
Mike (no last name provided) works as the director of Generation - Oahu. He has been with the company since 2004, with a brief hiatus from 2012 to 2013 when he left for a position at AES Hawaii. During his career at Hawaiian Electric, he has worked in various roles in Power Supply and engineering, providing leadership in engineering, planning, operations, budgeting, and labor relations. He was instrumental in the successful commissioning of the Schofield Generating Station in 2018, including establishing training and safety standards.
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History and timeline
Hawaiian Electric Company, Ltd. was incorporated on October 13, 1891. Three years later, in 1894, the Alakea Power Plant was dedicated and placed into service. In 1901, ice and cold storage were added to the company's services. In 1914, Hawaiian Electric established service to the windward side of Oahu, stringing an 11,000-volt line over the Pali to serve a wireless telegraph company in Heeia. The following year, in 1915, the legislature granted Hawaiian Electric the right to supply power to the entire island.
The company's King Street building opened for business on July 25, 1927. In 1937, there was a groundbreaking at the Waiau Power Plant, and the first unit at the Waiau Generating Station went online in 1938. Hawaiian Electric celebrated its 50th anniversary in 1941, the same year that workers safely shut down the Waiau Power Plant while under fire from Japanese warplanes on December 7. In 1954, the Leslie A. Hicks Power Plant in downtown Honolulu became operational.
In 2012, Hawaiian Electric and Maui Electric Company were honoured for Solar Energy Adoption by the Solar Electric Power Association. That same year, they launched Going Solar, an online solar resource centre providing customers with information on choosing a contractor, financing, siting, and sizing photovoltaic systems. On January 31, 2014, Hawaiian Electric deactivated the Honolulu Power Plant. In 2015, the company pledged support for the state's new goal of 100% renewable energy by 2045, the most aggressive clean energy goal in the country at the time.
Also in 2015, Hawaiian Electric opened the first utility-owned and operated DC Fast Charger for electric vehicles on Oahu at Dole Plantation. By the end of 2016, about 15% of all residential and commercial electric customers had PV systems, nearly 20 times the national average. In 2018, the 50-MW Schofield Generating Station was commissioned.
Today, Hawaiian Electric and its subsidiaries provide electricity and services to 95% of the state's 1.4 million residents, serving the islands of Oahu, Hawaii, Maui, Lanai, and Molokai. The company is led by President and CEO Shelee Kimura, who has held the role since January 2022.
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Subsidiaries
Hawaiian Electric Industries, Inc. (HEI) is the largest supplier of electricity in Hawaii, providing power to 95% of the state's population. It is the sole owner of Hawaiian Electric Company, Inc. (Hawaiian Electric), which is a subsidiary of HEI. Hawaiian Electric, in turn, owns three electric utilities: Hawaiian Electric Company, Hawai'i Electric Light Company, and Maui Electric Company.
Hawaiian Electric Company, also known as HECO, serves the island of Oahu and was established in 1891. It has been providing electricity to the island for over a century, with Oahu becoming entirely electrified by 1959. HECO also has a history of marketing electric products, such as refrigerators and flat irons, and has been committed to supporting the adoption of electric vehicles.
Hawai'i Electric Light Company, or HELCO, serves the Big Island. It was previously known as Hilo Electric Light Company before changing its name.
Maui Electric Company, often abbreviated as MECO, serves the islands of Maui, Lanai, and Molokai. In 1988, Maui Electric acquired the Lanai City power plant, and in 1989, it acquired the Molokai Electric Company, expanding its service territory to include these islands.
In addition to these electric utilities, HEI also owns a financial institution, American Savings Bank, and a clean energy and sustainability company, Pacific Current LLC. Furthermore, Hawaiian Electric Renewable Systems (HERS), an HEI subsidiary, was formed to invest in renewable energy sources for Hawaii. HERS built the Makani Moae wind farm in Kahuku in 1985, demonstrating HEI's commitment to exploring alternative energy sources.
In recent years, there have been discussions and attempts to convert Hawaiian Electric and its subsidiaries from private, investor-owned utilities into community-owned cooperatives or municipal utilities. In 2014, there was a proposed merger with Florida-based energy company NextEra, which faced opposition from various parties and ultimately did not succeed.
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Employment
Hawaiian Electric, which serves 95% of Hawaii's population, is an equal-opportunity employer. The company is committed to taking affirmative action to employ qualified individuals with disabilities, veterans with disabilities, veterans, minorities, and women. They also promote from within and hire externally when vacancies arise.
Hawaiian Electric offers a competitive compensation package and a range of benefits to its employees. The company believes that its people are its competitive advantage and values its employees' commitment to its foundational values: integrity, excellence, teamwork, environmental stewardship, and community commitment.
There are a variety of job opportunities available at Hawaiian Electric. On its careers page, the company lists job openings such as laborer, warehouse worker, truck driver, and more. The company also offers a Kupu Conservation Leadership Development Program (CLDP) for early professionals interested in conservation.
For those seeking a career in the energy industry, Hawaiian Electric offers rewarding challenges and opportunities for advancement. The company values include delivering value for customers and providing safe, affordable, and reliable clean energy to the communities it serves.
Hawaiian Electric also has a strong commitment to compliance and ethical behaviour. Employees are expected to comply with all federal, state, and company policies, procedures, and regulations, as well as conduct themselves in a professional and ethical manner.
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Frequently asked questions
Hawaiian Electric Industries, Inc. (HE) is a publicly-traded company with several major stockholders, including AEP American Electric Power Company, Inc., ED Consolidated Edison, Inc., and NEE-PT NextEra Energy, Inc.
The Hawaiian Electric Company, Ltd. was incorporated on October 13, 1891, and began providing electricity to the island of Oahu in 1894. Over the next few decades, the company expanded its services and infrastructure, and by 1915, it was granted the right to supply power to the entire island of Oahu. Today, Hawaiian Electric and its subsidiaries provide electricity and services to approximately 95% of Hawaii's 1.4 million residents across multiple islands.
As of January 2022, Shelee Kimura is the president and chief executive officer of Hawaiian Electric. Other key leaders include Paul Ito, the SVP, CFO, and treasurer, and various vice presidents overseeing areas such as business development, customer service, and engineering.
Hawaiian Electric is committed to empowering its customers and communities by providing affordable, reliable, and clean energy. The company has pledged support for Hawaii's goal of achieving 100% renewable energy by 2045 and actively seeks clean local energy sources to power the state's residents and businesses.
