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Income taxes (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Taxes Attributable to Net Income for Common Stock
The components of income taxes attributable to net income for common stock were as follows:
HEI consolidatedHawaiian Electric consolidated
Years ended December 31202320222021202320222021
(in thousands)   
Federal   
Current $30,909 $77,595 $51,455 $40,365 $75,118 $42,794 
Deferred1,072 (37,410)(11,689)(3,444)(39,646)(12,109)
Deferred tax credits, net*52 4,031 4,611 22 137 302 
 32,033 44,216 44,377 36,943 35,609 30,987 
State      
Current 8,344 11,981 12,119 9,367 15,780 4,861 
Deferred 4,196 4,914 6,290 4,883 (1,769)8,279 
Deferred tax credits, net*— 56 21 — 56 21 
 12,540 16,951 18,430 14,250 14,067 13,161 
Total$44,573 $61,167 $62,807 $51,193 $49,676 $44,148 
*     In 2022 and 2021, primarily represents federal tax credits related to Mauo’s solar-plus-storage project, deferred and amortized starting in 2022 and 2021, respectively.
Schedule of Reconciliation of Amount of Income Taxes Computed at Federal Statutory Rate
A reconciliation of the amount of income taxes computed at the federal statutory rate to the amount provided in the consolidated statements of income was as follows:

HEI consolidatedHawaiian Electric consolidated
Years ended December 31202320222021202320222021
(in thousands)   
Amount at the federal statutory income tax rate $51,597 $63,881 $65,281 $51,899 $50,526 $46,995 
Increase (decrease) resulting from:      
State income taxes, net of federal income tax benefit
10,827 14,438 15,735 11,097 11,026 10,323 
Net deferred tax asset (liability) adjustment related to the Tax Act
(7,316)(9,886)(9,886)(7,316)(9,886)(9,886)
Tax credits, net
(4,070)(1,297)(4,473)(2,251)(397)(2,203)
Other, net (6,465)(5,969)(3,850)(2,236)(1,593)(1,081)
Total$44,573 $61,167 $62,807 $51,193 $49,676 $44,148 
Effective income tax rate (%)18.1 20.1 20.2 20.7 20.6 19.7 
Schedule of Deferred Tax Assets and Liabilities
The tax effects of book and tax basis differences that give rise to deferred tax assets and liabilities were as follows:

HEI consolidatedHawaiian Electric consolidated
December 312023202220232022
(in thousands)  
Deferred tax assets  
Regulatory liabilities, excluding amounts attributable to property, plant and equipment
$78,884 $82,488 $78,884 $82,488 
Lease liabilities
113,968 45,016 107,409 37,472 
Retirement benefits23,502 7,692 23,247 6,852 
Revenue taxes49,522 51,392 49,522 51,392 
Allowance for bad debts22,942 22,734 1,646 2,195 
Available-for-sale investments103,587 120,405 — — 
Other1
40,051 39,399 19,171 20,287 
Total deferred tax assets432,456 369,126 279,879 200,686 
Deferred tax liabilities  
Property, plant and equipment related533,286 511,832 513,064 497,929 
Lease right-of-use assets
113,498 44,461 107,409 37,472 
Regulatory assets, excluding amounts attributable to property, plant and equipment
21,872 22,183 21,872 22,183 
Retirement benefits— — — — 
Other 61,754 53,112 36,535 27,532 
Total deferred tax liabilities730,410 631,588 678,880 585,116 
Net deferred income tax liability$297,954 $262,462 $399,001 $384,430 
1     As of December 31, 2023, HEI consolidated has deferred tax assets of $6.0 million relating to the benefit of state tax credit carryforwards of $8.1 million. These state tax credit carryforwards primarily relate to the West Loch PV project and low income housing investments that do not expire. The Company concluded that as of December 31, 2023, a valuation allowance is not required.
Schedule of Changes in Total Unrecognized Tax Benefits
The following is a reconciliation of the Company’s liability for unrecognized tax benefits for 2023, 2022 and 2021.

HEI consolidatedHawaiian Electric consolidated
(in millions)202320222021202320222021
Unrecognized tax benefits, January 1$30.6 $17.1 $12.7 $11.7 $11.6 $12.7 
Additions based on tax positions taken during the year0.5 19.0 2.8 0.3 0.1 0.3 
Reductions based on tax positions taken during the year— (3.5)(0.5)— — — 
Additions for tax positions of prior years3.8 0.6 7.6 3.7 0.2 0.2 
Reductions for tax positions of prior years(7.2)(2.6)(5.5)(0.1)(0.2)(1.6)
Lapses of statute of limitations— — — — — — 
Settlement— — — — — — 
Unrecognized tax benefits, December 31$27.7 $30.6 $17.1 $15.6 $11.7 $11.6