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Share-based compensation (Tables)
 6 Months Ended
Jun. 30, 2022
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)2022202120222021
HEI consolidated
Share-based compensation expense 1
$3.5 $2.9 $5.6 $5.5 
Income tax benefit0.8 0.5 1.1 1.0 
Hawaiian Electric consolidated
Share-based compensation expense 1
1.0 0.9 1.6 2.0 
Income tax benefit0.3 0.2 0.4 0.4 
1    For the three and six months ended June 30, 2022 and 2021, 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:
Three months ended June 30Six months ended June 30
(dollars in millions)2022202120222021
Shares granted34,755 29,320 34,755 29,320 
Fair value$1.4 $1.2 $1.4 $1.2 
Income tax benefit0.4 0.3 0.4 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
 2022202120222021
Shares(1)Shares(1)Shares(1)Shares(1)
Outstanding, beginning of period208,345 $39.71 236,191 $37.91 233,448 $38.10 193,939 $40.89 
Granted2,008 42.15 4,894 44.61 98,463 41.31 132,492 34.37 
Vested(1,034)44.31 (292)38.77 (91,414)37.65 (79,280)38.51 
Forfeited(366)38.07 (11,018)38.74 (31,544)38.77 (17,376)40.01 
Outstanding, end of period208,953 $39.71 229,775 $38.02 208,953 $39.71 229,775 $38.02 
Total weighted-average grant-date fair value of shares granted (in millions)$0.1 $0.2 $4.1 $4.6 
(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
 2022202120222021
Shares(1)Shares(1)Shares(1)Shares(1)
Outstanding, beginning of period76,340 $47.70 100,053 $42.89 90,974 $42.86 89,222 $42.10 
Granted 390 54.92 1,533 41.12 26,469 54.92 45,743 41.12 
Vested (issued or unissued and cancelled)— — — — (29,042)41.07 (32,355)38.20 
Forfeited— — (10,427)42.82 (11,671)42.60 (11,451)43.10 
Outstanding, end of period76,730 $47.74 91,159 $42.87 76,730 $47.74 91,159 $42.87 
Total weighted-average grant-date fair value of shares granted (in millions)$— $0.1 $1.5 $1.9 
(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:
20222021
Risk-free interest rate1.71 %0.19 %
Expected life in years33
Expected volatility31.0 %29.9 %
Range of expected volatility for Peer Group
25.4% to 76.7%
25.6% to 102.9%
Grant date fair value (per share)$54.92$41.12
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
2022202120222021
 Shares(1)Shares (1)Shares(1)Shares(1)
Outstanding, beginning of period292,151 $39.89 335,702 $38.04 306,342 $38.42 220,715 $41.03 
Granted 1,560 42.37 6,133 44.49 105,860 41.31 182,977 34.33 
Vested — — — — (71,807)37.68 (43,155)34.12 
Increase above target (cancelled)— — 15,881 42.92 — — 1,277 31.71 
Forfeited— — (41,711)38.27 (46,684)36.77 (45,809)38.82 
Outstanding, end of period293,711 $39.91 316,005 $38.38 293,711 $39.91 316,005 $38.38 
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)
$0.1 $0.3 $4.4 $6.3 
(1)    Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.