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Share-based compensation (Tables)
 6 Months Ended
Jun. 30, 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:
 Three months ended June 30Six months ended June 30
(in millions)2021202020212020
HEI consolidated
Share-based compensation expense 1
$2.9 $2.4 $5.5 $4.1 
Income tax benefit0.5 0.4 1.0 0.7 
Hawaiian Electric consolidated
Share-based compensation expense 1
0.9 0.4 2.0 1.2 
Income tax benefit0.2 0.1 0.4 0.2 
1    For the three and six months ended June 30, 2021 and 2020, the Company has not capitalized any share-based compensation.
Schedule of common stock granted to a nonemployee director under the 2011 Director Plan HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows:
Three months ended June 30Six months ended June 30
(dollars in millions)2021202020212020
Shares granted29,320 35,632 29,320 36,100 
Fair value$1.2 $1.3 $1.2 $1.3 
Income tax benefit0.3 0.3 0.3 0.3 
Schedule of restricted stock units Information about HEI’s grants of restricted stock units was as follows:
Three months ended June 30Six months ended June 30
 2021202020212020
Shares(1)Shares(1)Shares(1)Shares(1)
Outstanding, beginning of period236,191 $37.91 203,441 $40.67 193,939  $40.89 207,641 $35.36 
Granted4,894 44.61 916 37.90 132,492 34.37 78,595 47.99 
Vested(292)38.77 — — (79,280)38.51 (77,719)34.19 
Forfeited(11,018)38.74 — — (17,376)40.01 (4,160)35.81 
Outstanding, end of period229,775 $38.02 204,357  $40.65 229,775  $38.02 204,357 $40.65 
Total weighted-average grant-date fair value of shares granted (in millions)$0.2 $— $4.6 $3.8 
(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:
Three months ended June 30Six months ended June 30
 2021202020212020
Shares(1)Shares(1)Shares(1)Shares(1)
Outstanding, beginning of period100,053 $42.89 90,616 $42.08 89,222 $42.10 96,402 $39.62 
Granted 1,533 41.12 — — 45,743 41.12 24,630 48.62 
Vested (issued or unissued and cancelled)— — — — (32,355)38.20 (29,409)39.51 
Forfeited(10,427)42.82 — — (11,451)43.10 (1,007)41.72 
Outstanding, end of period91,159 $42.87 90,616 $42.08 91,159 $42.87 90,616  $42.08 
Total weighted-average grant-date fair value of shares granted (in millions)$0.1 $— $1.9 $1.2 
(1)    Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of Long-Term Incentive Plan assumptions 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:
20212020
Risk-free interest rate0.19 %1.39 %
Expected life in years33
Expected volatility29.9 %13.1 %
Range of expected volatility for Peer Group
25.6% to 102.9%
13.6% to 95.4%
Grant date fair value (per share)$41.12$48.62
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:
Three months ended June 30Six months ended June 30
2021202020212020
 Shares(1)Shares (1)Shares(1)Shares(1)
Outstanding, beginning of period335,702 $38.04 336,344  $39.64 220,715 $41.03 403,768  $35.15 
Granted 6,133 44.49 — — 182,977 34.33 98,522 48.10 
Vested — — —  — (43,155)34.12 (135,804) 33.48 
Increase above target (cancelled)15,881 42.92 (38,821) 34.12 1,277 31.71 (64,932) 34.12 
Forfeited(41,711)38.27 — — (45,809)38.82 (4,031)39.67 
Outstanding, end of period316,005 $38.38 297,523  $40.37 316,005 $38.38 297,523  $40.37 
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)
$0.3 $— $6.3 $4.7 
(1)    Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.