BlackRock amends filing: Hawaiian Electric (NYSE: HE) 14.7% stake

Rhea-AI Filing Summary

BlackRock, Inc. amended a Schedule 13G/A to report beneficial ownership of 25,323,022 shares of Hawaiian Electric Industries Inc Common Stock, equal to 14.7% of the class. The filing shows sole voting power for 25,064,158 shares and sole dispositive power for 25,323,022 shares. The filing states that iShares Core S&P Small‑Cap ETF holds an interest exceeding 5% of the outstanding common stock. The amendment is signed by Spencer Fleming, Managing Director, dated 04/24/2026.

Insights

Institutional Ownership Analyst

BlackRock discloses a substantial passive stake in Hawaiian Electric.

BlackRock reports beneficial ownership of 25,323,022 shares (14.7%), with sole voting power on 25,064,158 shares. The Schedule 13G/A structure indicates this is a passive reporting position under the applicable rules.

Shareholder concentration at this level is a material ownership disclosure; subsequent filings or transactions by large holders would appear in future SEC schedules.

Key Figures

Beneficial ownership: 25,323,022 shares Percent of class: 14.7% Sole voting power: 25,064,158 shares +3 more

6 metrics

Beneficial ownership 25,323,022 shares Amount beneficially owned reported in Item 4(a)

Percent of class 14.7% Percent of class reported in Item 4(b)

Sole voting power 25,064,158 shares Item 4(c)(i) sole power to vote

Sole dispositive power 25,323,022 shares Item 4(c)(iii) sole power to dispose

Identified >5% holder iShares Core S&P Small‑Cap ETF Item 6 indicates this entity holds more than 5%

Filing signature date 04/24/2026 Signature date on the amendment

Key Terms

Schedule 13G/A, beneficially owned, sole dispositive power, sole voting power

4 terms

Schedule 13G/A regulatory

"amended a Schedule 13G/A to report beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficially owned financial

"Amount beneficially owned: 25323022"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 25323022"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

sole voting power regulatory

"Sole power to vote or to direct the vote: 25064158"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/24/2026 - 04:11 PM Learn about SEC filing dates

FAQ

What stake does BlackRock report in Hawaiian Electric (HE)?

BlackRock reports beneficial ownership of 25,323,022 shares, representing 14.7% of Hawaiian Electric's common stock, as stated in the Schedule 13G/A amendment.

How many votes does BlackRock control in HE?

The filing shows sole voting power over 25,064,158 shares, meaning BlackRock can vote that number of HE shares directly per the amendment.

Does the filing indicate other large holders of HE?

The amendment identifies iShares Core S&P Small‑Cap ETF as holding an interest exceeding 5% of HE's outstanding common stock in Item 6.

Who signed the Schedule 13G/A amendment for BlackRock?

The amendment is signed by Spencer Fleming, Managing Director, with the signature dated 04/24/2026.

Is BlackRock reporting active control or a passive stake?

This Schedule 13G/A format and the filing language reflect a passive reporting position by BlackRock consistent with the applicable SEC release referenced in the amendment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

HAWAIIAN ELECTRIC INDUSTRIES INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

419870100

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 419870100

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 25,064,158.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 25,323,022.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

25,323,022.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

14.7 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: HAWAIIAN ELECTRIC INDUSTRIES INC
(b)	Address of issuer's principal executive offices: 1001 BISHOP STREET, SUITE 2900 HONOLULU HI 96813
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 419870100
Item 4.	Ownership
(a)	Amount beneficially owned: 25323022
(b)	Percent of class: 14.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 25064158
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 25323022
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The interest of 1 such person, iShares Core S&P Small-Cap ETF, in the common stock of HAWAIIAN ELECTRIC INDUSTRIES INC is more than five percent of the total outstanding common stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	04/24/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7