Who Are the Core Customers in HEI Company's Target Market?

Hawaiian Electric Company serves about 470,000 customers – roughly 95% of Hawaii's population – on Oahu, Maui, Hawaii Island, Lanai, and Molokai; residential households are the largest HEI Company target market by count and recurring revenue.

Large commercial enterprises, critical federal and military installations, and industrial users provide stable, high-volume demand and underpin peak load planning and infrastructure investment decisions in HEI customer segments.

HEI Company serves a mixed base: Hawaiian Electric Company is B2C and B2B for energy, while American Savings Bank targets B2C retail customers and SMBs across Hawaii, emphasizing local relationship banking.

By scale, the utility customer base drives energy revenues and capital spending; by financial weight, American Savings Bank held approximately $8.1 billion in deposits as of early 2026, marking retail deposits as a critical asset for HEI Company liquidity and earnings stability. Read more on corporate direction in Mission, Vision, and Values of HEI Company.

Oahu hosts the majority of Hawaii's population and GDP, producing the largest share of HEI customer segments: residential, commercial, and significant military energy accounts; residential mortgage refinancing and commercial lines of credit concentrate here as the local economy stabilizes.

Maui shows a concentrated surge in demand for grid modernization and hardening services amid reconstruction through 2025 and 2026; electrification of transportation is also rising statewide, pushing demand for charging infrastructure projects managed by Hawaiian Electric Company.

HEI Company is strongest in utility reach and revenue mix on Oahu, where customer density and large commercial and military accounts create steady usage and predictable cash flows; residential segments also drive high service penetration and refinancing demand.

Electrification of transportation is expanding rapidly: Hawaii reported a double-digit year-over-year increase in electric vehicle registrations in 2025, creating urgent need for expanded charging infrastructure and related commercial lines of credit for developers and municipalities; grid hardening on Maui will sustain elevated contract activity into 2026. Read more in Sales and Marketing Strategy of HEI Company

HEI Company target market expands as Hawaiian Electric Industries uses a multi-year Rate Plan and the 1.99 billion dollar wildfire settlement framework to fund grid modernization, attracting commercial and residential customers seeking resilient, cleaner energy; American Savings Bank broadens reach via digital banking to adjacent retail and small-business segments. See How HEI Company Works and Makes Money for context: How HEI Company Works and Makes Money

Core customers HEI Company keeps include rate-regulated utility customers and depositors; retention relies on dependable service, predictable rates under the Rate Plan, and American Savings Bank's focus on low-cost core deposits which preserved net interest margin in 2025. High captive demand in Hawaii limits voluntary churn.

HEI customer segments show depth: residential power users, commercial energy buyers, and retail banking clients who cross-buy services; ecosystem stickiness grows as grid upgrades enable distributed energy resources and digital banking services increase product holdings per customer.

The primary growth lever is capital deployment from the wildfire settlement and Rate Plan, which funds modernization and reliability projects that preserve captive demand; for American Savings Bank, the lever is sustained low-cost deposits and digital penetration that support margin recovery during the 2025/2026 transition.