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Share-based compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of share-based compensation expense and related income tax benefit
Share-based compensation expense and the related income tax benefit were as follows:
(in millions)202120202019
HEI consolidated
Share-based compensation expense1
$9.1 $5.8 $10.0 
Income tax benefit1.4 1.0 1.4 
Hawaiian Electric consolidated
Share-based compensation expense1
2.7 1.8 3.2 
Income tax benefit0.6 0.4 0.6 
1For 2021, 2020 and 2019, the Company has not capitalized any share-based compensation.
Schedule of common stock granted to nonemployee directors HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows:
(dollars in millions)202120202019
Shares granted29,816 36,100 36,344 
Fair value$1.3 $1.3 $1.6 
Income tax benefit0.3 0.3 0.4 
Schedule of restricted stock units Information about HEI’s grants of restricted stock units was as follows:
 202120202019
 Shares (1)Shares (1)Shares (1)
Outstanding, January 1193,939 $40.89 207,641 $35.36 200,358 $33.05 
Granted137,582 34.66 78,595 47.99 96,565 37.82 
Vested(79,623)38.51 (77,719)34.19 (76,813)32.61 
Forfeited(18,450)39.92 (14,578)36.20 (12,469)34.20 
Outstanding, December 31233,448 $38.10 193,939 $40.89 207,641 $35.36 
Total weighted-average grant-date fair value of shares granted (in millions)
$4.8 $3.8 $3.7 
(1)Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.
Schedule of long-term incentive plan (LTIP) linked to total return to shareholders Information about HEI’s LTIP grants linked to TSR was as follows:
 202120202019
 Shares(1)Shares(1)Shares(1)
Outstanding, January 189,222 $42.10 96,402 $39.62 65,578 $38.81 
Granted46,024 41.12 24,630 48.62 35,215 41.07 
Vested (issued or unissued and cancelled)(32,355)38.20 (29,409)39.51 — — 
Forfeited(11,917)43.07 (2,401)41.22 (4,391)39.19 
Outstanding, December 3190,974 $42.86 89,222 $42.10 96,402 $39.62 
Total weighted-average grant-date fair value of shares granted (in millions)
$1.9 $1.2 $1.4 
(1)Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of assumptions used to determine the fair value of Long-Term Incentive Plan (LTIP) linked to total return to shareholders (TRS)
The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted:
 202120202019
Risk-free interest rate0.19 %1.39 %2.48 %
Expected life in years333
Expected volatility29.9 %13.1 %15.8 %
Range of expected volatility for Peer Group
25.6% to 102.9%
13.6% to 95.4%
15.0% to 73.2%
Grant date fair value (per share)$41.12 $48.62 $41.07 
Schedule of long-term incentive plan (LTIP) linked to other performance conditions Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows:
 202120202019
 Shares(1)Shares(1)Shares(1)
Outstanding, January 1220,715 $41.03 403,768 $35.15 276,169 $33.80 
Granted184,102 34.37 98,522 48.10 140,855 37.78 
Vested(43,155)34.12 (135,804)33.48 — — 
Increase above target (cancelled)(7,646)39.06 (136,163)36.44 4,314 33.53 
Forfeited(47,674)38.74 (9,608)38.36 (17,570)34.66 
Outstanding, December 31306,342 $38.42 220,715 $41.03 403,768 $35.15 
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)
$6.3 $4.7 $5.3 
(1)Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.