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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
354707	Hawaiian Electric Industries Inc	HE	Electric Services (4911)	990208097

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1193241	H Constance Lau	P.o. Box 730 Honolulu HI 96808-0730	President & Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2011-05-17	50,000	$21.68	366,963	No	4	M	Direct
Common Stock	Acquisiton	2011-05-17	7,984	$0.00	374,947	No	4	M	Direct
Common Stock	Disposition	2011-05-17	13,378	$26.00	361,569	No	4	S	Direct
Common Stock	Disposition	2011-05-17	14,226	$25.90	347,343	No	4	S	Direct
Common Stock	Disposition	2011-05-17	1,500	$25.87	345,843	No	4	S	Direct
Common Stock	Disposition	2011-05-17	400	$25.86	345,443	No	4	S	Direct
Common Stock	Disposition	2011-05-17	20,496	$25.85	324,947	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Employee Stock Option (right to buy)	Disposition	2011-05-17	50,000	$0.00	50,000	$21.68
Common Stock	Dividend Equivalent Rights	Disposition	2011-05-17	7,984	$0.00	7,984	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2012-04-22	No	4	M	Direct
0		2012-04-22	No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	90	Indirect	By 401k
Common Stock	7,712	Indirect	By custodian for children

Footnotes

Shares acquired as dividend equivalents pursuant to the terms of the Stock Option and Incentive Plan for the period 5/10/02 - 2/23/06 with a range in price of $19.59 to $28.81 (price accommodating 2-for-1 split).
Includes shares acquired under the Hawaiian Electric Industries, Inc. Dividend Reinvestment and Stock Purchase Plan.
Represents shares held in the form of stock units in the HEI Common Stock fund pursuant to the Hawaiian Electric Industries Retirement Savings Plan as of May 17, 2011.
Settlement of dividend equivalent rights in connection with exercise of option. The rights accrued when and as dividends were paid on HEI Comon Stock and became exercisable proportionately with the option to which they related. Each dividend equivalent right is the economic equivalent of one share of HEI Comon Stock. $18.99 was also paid to the holder to settle a fractional dividend equivalent right of 0.7329.
The option vested in four equal installments on April 22, 2003, April 22, 2004, April 22, 2005 and April 22, 2006.