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Section 1: 4 (PRIMARY DOCUMENT)

Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
WATANABE JEFFREY N
  2. Issuer Name and Ticker or Trading Symbol
HAWAIIAN ELECTRIC INDUSTRIES INC [HE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
P.O. BOX 730
3. Date of Earliest Transaction (Month/Day/Year)
03/05/2018
(Street)

HONOLULU, HI 96808-0730
4. If Amendment, Date Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/21/2018   G V 9,300 D $ 0 15,453.3988(1) I By Jeffrey Noboru Watanabe Trust
Common Stock 02/21/2018   G V 9,300 A $ 0 28,529.716(2) I By Jeffrey N Watanabe Sub Trust
Common Stock 03/05/2018   S   100 D $33.18 28,429.716(2) I By Jeffrey N Watanabe Sub Trust
Common Stock 03/05/2018   S   100 D $33.1909 28,329.716(2) I By Jeffrey N Watanabe Sub Trust
Common Stock 03/05/2018   S   513 D $33.17 27,816.716(2) I By Jeffrey N Watanabe Sub Trust
Common Stock 03/05/2018   S   8,587 D $33.18 19,229.716(2) I By Jeffrey N Watanabe Sub Trust
Common Stock               3,737.3909(1) I By trust profit sharing plan
Common Stock               3,999.949(2) I By IRA
Common Stock               5.0097(1) I By son

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
WATANABE JEFFREY N
P.O. BOX 730
HONOLULU, HI 96808-0730
  X      

Signatures

 Julio C. Martin, Attorney-in-Fact for Jeffrey N. Watanabe   03/06/2018
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes shares acquired under the Hawaiian Electric Industries, Inc. Dividend Reinvestment and Stock Purchase Plan.
(2) Earned dividends are automatically invested in shares of HEI Common Stock.
 
Remarks:
Remarks:Exhibit List  Exhibit 24 - Power of Attorney

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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Section 2: EX-24 (POWER OF ATTORNEY)

Exhibit 24

POWER OF ATTORNEY



        Know all by these presents, that the undersigned hereby constitutes and appoints each of 

KURT K. MURAO, LIANN Y. EBESUGAWA and JULIO C. MARTIN, or any of them signing singly, 

and with full power of substitution, the undersigned's true and lawful attorneys-in-fact to:



 (1)  prepare, execute in the undersigned's name and on the undersigned's behalf, and 

submit to the U.S. Securities and Exchange Commission (the "SEC") a Form ID, including 

amendments thereto, and any other documents necessary or appropriate to obtain codes and 

passwords enabling the undersigned to make electronic filings with the SEC of reports required 

by Section 16(a) of the Securities Exchange Act of 1934 or any rule or regulation of the SEC;



 (2) execute for and on behalf of the undersigned, in the undersigned's capacity as an 

officer and/or director of HAWAIIAN ELECTRIC INDUSTRIES, INC. or any of its subsidiaries (the 

"Company"), Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 

1934 and the rules thereunder, and any other forms or reports the undersigned may be required 

to file in connection with the undersigned's ownership, acquisition, or disposition of securities of 

the Company;



 (3) do and perform any and all acts for and on behalf of the undersigned which may 

be necessary or desirable to complete and execute any such Form 3, 4, or 5, or other form or 

report, complete and execute any amendment or amendments thereto, and timely file such form 

with the SEC and any stock exchange or similar authority; and



 (4) take any other action of any type whatsoever in connection with the foregoing 

which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or 

legally required by, the undersigned, it being understood that the documents executed by such 

attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such 

form and shall contain such terms and conditions as such attorney-in-fact may approve in such 

attorney-in-fact's discretion.



        The undersigned hereby grants to each such attorney-in-fact full power and authority to 

do and perform any and every act and thing whatsoever requisite, necessary, or proper to be 

done in the exercise of any of the rights and powers herein granted, as fully to all intents and 

purposes as the undersigned might or could do if personally present, with full power of 

substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such 

attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this 

Power of Attorney and the rights and powers herein granted.  The undersigned acknowledges 

that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, 

are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to 

comply with Section 16 of the Securities Exchange Act of 1934.

       

        This Power of Attorney shall remain in full force and effect until the undersigned is no 

longer required to file Forms 3, 4, and 5 with respect to the undersigned's holdings of and 

transactions in securities issued by the Company, unless earlier revoked by the undersigned in a 

signed writing delivered to the foregoing attorneys-in-fact.

       

        IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be 

executed as of this 1st day of August, 2017.

       

       



 /s/ Jeffrey N. Watanabe      

 JEFFREY N. WATANABE

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