Hawaiian Electric Industries, Inc. to Announce 2008 Financial Results on February 19, 2009

Hawaiian Electric Industries, Inc. (NYSE:HE) said today that it plans to announce its 2008 financial results on Thursday, February 19, 2009.

The Company also announced that it has scheduled a conference call beginning at 1:00 p.m. Eastern time on Friday, February 20, 2009. HEI president and chief executive officer, Constance H. Lau; Hawaiian Electric Company, Inc. president and chief executive officer, Richard M. Rosenblum; and American Savings Bank, F.S.B. president, Timothy K. Schools, will present an overview of 2008 results and the outlook for 2009.

Interested parties may listen to the conference by calling (866) 578-5747 and entering passcode: 76761127, or by listening to a webcast on HEI's website, http://www.hei.com.

HEI supplies power to over 400,000 customers or 95% of Hawaii’s population through its electric utilities, Hawaiian Electric Company, Inc., Hawaii Electric Light Company, Inc. and Maui Electric Company, Ltd. and provides a wide array of banking and other financial services to consumers and businesses through American Savings Bank, F.S.B., one of Hawaii’s largest financial institutions.

Forward-Looking Statements

Statements made orally on the above-referenced webcast/conference call may contain "forward-looking statements,” which include statements that are predictive in nature, depend upon or refer to future events or conditions, and usually include words such as expects, anticipates, intends, plans, believes, predicts, estimates or similar expressions. In addition, any statements concerning future financial performance (including future revenues, expenses, earnings or losses or growth rates), ongoing business strategies or prospects and possible future actions, which may be provided by management, are also forward-looking statements. Forward-looking statements are based on current expectations and projections about future events and are subject to risks, uncertainties and assumptions about HEI and its subsidiaries, the performance of the industries in which they do business and economic and market factors, among other things. These forward-looking statements are not guarantees of future performance.

Forward-looking statements made orally on the above-referenced webcast/conference should be read in conjunction with the "Forward-Looking Statements" discussion (which is incorporated by reference herein) set forth on page iv of HEI's Quarterly Report on Form 10-Q for the quarter ended September 30, 2008, and in HEI's future periodic reports that discuss important factors that could cause HEI's results to differ materially from those anticipated in such statements. Forward-looking statements speak only as of the date of the above-referenced webcast/conference call.