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HEI
How is Hawaiian Electric Industries rebuilding trust after Maui?
HEI's 2025 strategy centers on resilience, community safety, and transparent communication after the 2023 Maui wildfires. The company now balances grid modernization with accountability to a climate-sensitive population.
HEI serves nearly 95% of Hawaii's population, facing the nation's highest electricity rates and a state goal of 100% renewables by 2045. Its customer base skews island residents, small businesses, and bank clients needing climate-resilient energy and financial services — see HEI Porter's Five Forces Analysis.
Who Are HEI’s Main Customers?
HEI’s primary customer segments split between Hawaiian Electric (utility) serving ~470,000 accounts across Oahu, Maui, Hawaii, Lānai and Molokai, and American Savings Bank serving ~180,000 customers statewide; residential users dominate utility account volume while commercial, government and tourism drive substantial revenue and banking customers skew toward Hawaii households with median income near $92,000.
Utility: Residential Base
Residential customers account for the largest number of utility accounts and about 40 percent of HEI’s utility revenue as of early 2025, with growing rooftop solar adoption.
Utility: C&I and Government
Commercial, industrial and government customers—including the U.S. Department of Defense and tourism-related loads—provide high-volume, stable demand and a disproportionate share of grid load.
Banking: Retail Households
American Savings Bank’s core retail customers are Hawaii-based households (median income ~$92,000), from service workers to professionals, driving deposits, consumer lending and wealth services.
Banking: Small Business & Silver Economy
ASB serves entrepreneurs and small businesses with commercial lending; growth in 2025 centers on the 'silver economy'—aging customers needing wealth and estate planning.
Shifts and segmentation trends: distributed energy and digital banking adoption are reshaping HEI Company customer demographics and target market definitions, requiring data-driven productization and new service tiers.
Key segmentation insights
Current segmentation reflects behavioral and demographic pivots across utility and banking operations with measurable penetration of DER and digital channels.
- Approximately 25 percent of residential utility customers have rooftop solar, becoming prosumers
- Utility customer base: ~470,000 accounts across multiple islands
- Banking customer base: ~180,000 customers, median household income ~$92,000
- 2024–25 digital platform rollout shifted younger professionals toward digital-first banking relationships
For further strategic context on HEI Company customer demographics and target market approaches, see Marketing Strategy of HEI
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What Do HEI’s Customers Want?
Customers prioritize reliable service and cost-mitigation, with bill relief as a top need given Hawaii’s electricity rates often above 40¢/kWh, and a strong preference for local, renewable-aligned solutions reflecting island values.
Energy cost sensitivity
High electricity prices drive demand for TOU rates and bill-relief programs to lower peak charges and shift usage.
Renewable preference
Strong support for 100 percent renewable goals exists, conditional on not increasing living costs.
Reliability & safety
Post-2023 wildfire concerns make real-time PSPS alerts and granular risk data high-priority features.
Local banking needs
ASB customers value personalized service, branch access, and culturally informed support like Kōkua for homeownership.
Bundled energy-finance products
Growing demand for bundled loans for home batteries and EV chargers links energy and banking needs.
Support for local economy
Customers favor programs aiding farmers and green startups; ASB now offers specialized commercial credit lines.
HEI Company customer demographics and target market reflect island-specific income and usage patterns, favoring partnership models over transactions; see corporate context in Mission, Vision & Core Values of HEI
Key needs and service priorities
Customers seek reliability, affordability, local alignment, and integrated energy-financial solutions; these inform HEI Company customer profile and market segmentation strategies.
- Preference for TOU rates to exploit midday solar generation
- Demand for bill-relief programs due to average residential rates > 40¢/kWh
- High value placed on local service, personalized banking, and Kōkua-style support
- Interest in bundled loans for batteries, EV charging, and green-tech investments
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Where does HEI operate?
HEI’s geographic market presence is confined to the Hawaiian archipelago, with concentration and revenue skewed toward Oahu, followed by Maui and Hawaii Island; Kauai is served by a separate cooperative, creating near-total share in HEI’s service territory.
Oahu: Primary Engine
Oahu houses the majority of residential and commercial accounts, key military loads at Pearl Harbor, and higher disposable income and banking engagement, driving most of HEI Company customer demographics and revenue.
Maui: Tourism & Resorts
Maui’s market features luxury tourism and resort accounts with seasonally elevated demand; HEI’s 2025 focus on West Maui includes undergrounding lines and localized microgrids to support Lahaina rebuilding and brand trust.
Hawaii Island: Rural & Renewables
Hawaii Island presents a dispersed, rural customer profile with higher reliance on geothermal and wind generation, lower average incomes in many pockets, and different HEI Company target market needs compared with Oahu.
Kauai: Separate Provider
Kauai’s service by a separate cooperative means HEI holds near-total market share elsewhere, heightening exposure to localized economic and environmental shocks across the islands.
HEI’s 2025 strategic priorities include Grid Modernization Phase 2—installation of smart meters across all serviced islands by year-end to enable granular HEI Company market segmentation and localized demand-response, and targeted community outreach using Hawaiian-language integration and partnerships for energy equity; see Brief History of HEI.
Localized Recovery
West Maui microgrids and underground lines focus HEI Company customer profile analysis on resilience for communities rebuilding after the Lahaina disaster.
Revenue Concentration
Oahu accounts represent the largest share of revenue; military and urban commercial loads materially raise average consumption per customer relative to other islands.
Demand Profiles
Maui shows high peak tourism demand, Hawaii Island shows distributed, lower-density demand tied to renewables—informing HEI Company audience characteristics and service offerings.
Market Risk
Geographic concentration limits mainland competition but increases sensitivity to island-specific economic and environmental shocks, affecting long-term planning and capital allocation.
Customer Outreach
HEI localizes marketing and community programs—using Hawaiian language and local NGO partnerships—to address differing HEI Company ideal customer profile needs across islands.
Metering & Data
Smart meter rollout in 2025 aims to provide precise geographic distribution of target market consumption data, enabling finer HEI Company customer demographics by area and income for demand-response strategies.
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How Does HEI Win & Keep Customers?
HEI Company focuses acquisition on enrolling existing utility customers into high-value programs and retaining them through targeted loyalty offers and community access to clean energy.
Utility-first Acquisition
As a regulated monopoly, HEI prioritizes program enrollment over poaching competitors, using the My Energy app and social channels to promote EV rebates and rooftop solar integration.
Inclusive Retention
The PowerShare community solar program retains renters and non-roof customers by enabling participation in 2025, reducing attrition among otherwise excluded segments.
Banking Channel Strategy
American Savings Bank blends branch visibility with digital marketing; the 'Anytime, Anywhere' campaign emphasizes localized service and referral bonuses to acquire customers.
Cross‑Sell & Loyalty
Bundled 'Green Home' packages and Refer-a-Friend incentives helped lower churn to under 5% in 2025 by integrating banking and energy offerings within the HEI ecosystem.
Data-driven outreach and community engagement underpin retention and acquisition tactics.
Analytics & CRM
Smart meter and transaction analysis identify EV candidates and financial stress signals for proactive offers like payment plans and efficiency tips.
Proactive Outreach
Targeted push notifications via the My Energy app and SMS increase program enrollment rates and monthly active engagement metrics.
Community Engagement
Town halls and community meetings after 2023 wildfires improved brand sentiment scores notably by 2025, supporting retention among affected customers.
Target Market Insights
HEI Company customer demographics and target market analysis show higher uptake among households aged 30–55 with median income above local medians and interest in clean energy solutions.
Retention Metrics
Cross‑product retention driven by energy-banking bundles reduced churn and increased lifetime value across HEI Company customer profile segments.
Further Reading
See related analysis on HEI revenue and model: Revenue Streams & Business Model of HEI
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