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Fair value measurements (Tables)
 3 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of estimated fair values of certain of the Company's financial instruments
The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments. For stock in Federal Home Loan Bank, the carrying amount is a reasonable estimate of fair value because it can only be redeemed at par.
 Estimated fair value
(in thousands)Carrying or notional amountQuoted prices in
active markets
for identical assets
(Level 1)		Significant
 other observable
 inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)		Total
March 31, 2020     
Financial assets     
HEI consolidated
Available-for-sale investment securities
$1,340,241  $—  $1,311,515  $28,726  $1,340,241  
Held-to-maturity investment securities
134,656  —  142,570  —  142,570  
Stock in Federal Home Loan Bank
9,760  —  9,760  —  9,760  
Loans, net5,122,003  —  18,155  5,287,943  5,306,098  
Mortgage servicing rights9,120  —  —  10,350  10,350  
Derivative assets63,662  —  1,852  —  1,852  
Financial liabilities    
HEI consolidated
Deposit liabilities791,665  —  797,075  —  797,075  
Short-term borrowings—other than bank99,956  —  99,956  —  99,956  
Other bank borrowings157,605  —  157,606  —  157,606  
Long-term debt, net—other than bank2,068,092  —  2,226,265  —  2,226,265  
   Derivative liabilities74,800  585  4,575  —  5,160  
Hawaiian Electric consolidated
Short-term borrowings99,956  —  99,956  —  99,956  
Long-term debt, net 1,510,635  —  1,655,449  —  1,655,449  
December 31, 2019     
Financial assets     
HEI consolidated
Available-for-sale investment securities
$1,232,826  $—  $1,204,229  $28,597  $1,232,826  
Held-to-maturity investment securities
139,451  —  143,467  —  143,467  
Stock in Federal Home Loan Bank
8,434  —  8,434  —  8,434  
Loans, net5,080,107  —  12,295  5,145,242  5,157,537  
Mortgage servicing rights9,101  —  —  12,379  12,379  
Derivative assets25,179  —  300  —  300  
Financial liabilities    
HEI consolidated
Deposit liabilities769,825  —  765,976  —  765,976  
Short-term borrowings—other than bank185,710  —  185,710  —  185,710  
Other bank borrowings115,110  —  115,107  —  115,107  
Long-term debt, net—other than bank1,964,365  —  2,156,927  —  2,156,927  
Derivative liabilities51,375  33  2,185  —  2,218  
Hawaiian Electric consolidated
Short-term borrowings88,987  —  88,987  —  88,987  
Long-term debt, net 1,497,667  —  1,670,189  —  1,670,189  
Schedule of assets measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis were as follows:
March 31, 2020December 31, 2019
   Fair value measurements usingFair value measurements using
(in thousands) Level 1Level 2Level 3Level 1Level 2Level 3
Available-for-sale investment securities (bank segment)                   
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies
$—  $1,141,452  $—  $—  $1,026,385  $—  
U.S. Treasury and federal agency obligations  —  110,293  —  —  117,787  —  
Corporate bonds  —  59,770  —  —  60,057  —  
Mortgage revenue bonds  —  —  28,726  —  —  28,597  
   $—  $1,311,515  $28,726  $—  $1,204,229  $28,597  
Derivative assets                    
Interest rate lock commitments (bank segment)1
$—  $1,852  $—  $—  $297  $—  
Forward commitments (bank segment)1
—  —  —  —  3  —  
   $—  $1,852  $—  $—  $300  $—  
Derivative liabilities  
Forward commitments (bank segment)1
$585  $—  $—  $33  $12  $—  
Interest rate swap (Other segment)2
—  4,575  —  —  2,173  —  
$585  $4,575  $—  $33  $2,185  $—  
1  Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income.
2  Derivatives are included in other liabilities in the balance sheets.
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis
The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows:
Three months ended March 31
Mortgage revenue bonds20202019
(in thousands)
Beginning balance$28,597  $23,636  
Principal payments received—  —  
Purchases129  4,334  
Unrealized gain (loss) included in other comprehensive income—  —  
Ending balance$28,726  $27,970  
Schedule of assets measured at fair value on a nonrecurring basis The carrying value of assets measured at fair value on a nonrecurring basis were as follows:
  Fair value measurements using
(in thousands) BalanceLevel 1Level 2Level 3
March 31, 2020
Loans$—  $—  $—  $—  
December 31, 2019
Loans25  —  —  25  
Schedule of significant unobservable inputs used in the fair value measurement
Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows:
(dollars in thousands)March 31, 2020December 31, 2019
Unpaid principal balance$1,308,847  $1,276,437  
Weighted average note rate3.94 %3.96 %
Weighted average discount rate9.3 %9.3 %
Weighted average prepayment speed16.7 %11.4 %
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis:
Significant unobservable
 input value (1)
($ in thousands)Fair value Valuation techniqueSignificant unobservable inputRangeWeighted
Average
December 31, 2019
Residential land$25  Fair value of property or collateral
Appraised value less 7% selling cost
N/A (2)N/A (2)
Total loans$25     
(1) Represents percent of outstanding principal balance.
(2) N/A - Not applicable. There is one asset in each fair value measurement type.