No Load Stocks

Hawaiian Electric Ind.

DRP Info

	To join plan: Minimum $250 or have one share of stock.

	Optional cash investments: Min $25, invested twice monthly.

	Fees:	Admin Fee: $.50/qtr
		Sales fee: $15 charge plus commissions and taxes

	Agent: Hawaiian Electric Industries, Inc.
		(808) 532-5841 or fax (808) 532-5868
		Attn: Dividend Reinvestment and Stock Purchase Plan
		P.O. Box 730
		Honolulu, HI 96808-0730

	from Prospectus dated March 15, 2001.

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