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Share-based compensation (Tables)
 9 Months Ended
Sep. 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 September 30Nine months ended September 30
(in millions)2022202120222021
HEI consolidated
Share-based compensation expense 1
$1.7 $1.3 $7.3 $6.7 
Income tax benefit0.4 0.1 1.5 1.0 
Hawaiian Electric consolidated
Share-based compensation expense 1
0.6 0.1 2.1 2.1 
Income tax benefit0.1 — 0.5 0.4 
1    For the three and nine months ended September 30, 2022 and 2021, the Company has not capitalized any share-based compensation.
Schedule of common stock granted to nonemployee directors HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows:
Three months ended September 30Nine months ended September 30
(dollars in millions)2022202120222021
Shares granted965 — 35,720 29,320 
Fair value$— $— $1.5 $1.2 
Income tax benefit— — 0.4 0.3 
Schedule of restricted stock units Information about HEI’s grants of restricted stock units was as follows:
Three months ended September 30Nine months ended September 30
 2022202120222021
Shares(1)Shares(1)Shares(1)Shares(1)
Outstanding, beginning of period208,953 $39.71 229,775 $38.02 233,448 $38.10 193,939 $40.89 
Granted— — 1,432 45.09 98,463 41.31 133,924 34.49 
Vested(4,244)39.49 (343)37.83 (95,658)37.73 (79,623)38.51 
Forfeited(16,540)39.99 (1,074)38.52 (48,084)39.19 (18,450)39.92 
Outstanding, end of period188,169 $39.69 229,790 $38.06 188,169 $39.69 229,790 $38.06 
Total weighted-average grant-date fair value of shares granted (in millions)$— $0.1 $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 September 30Nine months ended September 30
 2022202120222021
Shares(1)Shares(1)Shares(1)Shares(1)
Outstanding, beginning of period76,730 $47.74 91,159 $42.87 90,974 $42.86 89,222 $42.10 
Granted — — 281 41.12 26,469 54.92 46,024 41.12 
Vested (issued or unissued and cancelled)— — — — (29,042)41.07 (32,355)38.20 
Forfeited(4,829)48.52 (466)42.49 (16,500)44.33 (11,917)43.07 
Outstanding, end of period71,901 $47.69 90,974 $42.86 71,901 $47.69 90,974 $42.86 
Total weighted-average grant-date fair value of shares granted (in millions)$— $— $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 September 30Nine months ended September 30
2022202120222021
 Shares(1)Shares (1)Shares(1)Shares(1)
Outstanding, beginning of period293,711 $39.91 316,005 $38.38 306,342 $38.42 220,715 $41.03 
Granted — — 1,125 41.12 105,860 41.31 184,102 34.37 
Vested — — — — (71,807)37.68 (43,155)34.12 
Increase above target (cancelled)— — (22,354)37.81 — — (21,077)38.18 
Forfeited(19,316)38.60 (1,865)36.77 (66,000)37.31 (47,674)38.74 
Outstanding, end of period274,395 $40.00 292,911 $38.45 274,395 $40.00 292,911 $38.45 
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)
$— $— $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.