Hawaii Lawmakers Take Campaign Money From Hawaiian Electric But Don’t Own Its Stock
The total of individual political donations by executives matches the spending by the utility’s political action committee.
On Friday, Rep. Richard Onishi stood up on the House floor during discussion of a bill that would help Hawaiian Electric Co. raise money to cover potential liabilities relating to the Lahaina fire.
The Hilo representative declared a possible conflict of interest in voting on saying he owned stock in Hawaiian Electric.
House Speaker Scott Saiki didn’t even pause. No conflict, he said, because the bill covers all HECO shareholders. In fact, he said, the no conflict ruling “applies to all House members to have a similar circumstance.”
Saiki needn’t worry. Onishi appears to be the only elected Hawaii lawmaker who has declared holding any interest in Hawaiian Electric Industries stock, according to the most recent public financial disclosures filed with the Hawaii Ethics Commission.
Civil Beat reviewed lawmakers’ potential links to the company which includes the utility Hawaiian Electric Company Inc., or HECO, as the Legislature is considering measures that would help it survive financial losses that could arise from costs it might have to pay relating to the Aug. 8 Maui wildfires.
Onishi reported owning HEI shares valued at between $50,000 and $100,000, according to his Jan. 19 declaration. The lawmaker’s previous disclosure had put the value of HEI stock at between $100,000 and $150,000.
HEI’s stock plummeted from above $40 after the August wildfires and has stabilized at a little over $13.
Civil Beat has previously reported the state’s budget and finance director, Luis Salaveria who was involved in planning the state fund to compensate wildfire victims, held between $50,000 and $100,000 in HEI stock. The latest state employee financial disclosures are due May 31.
Several bills, like HB 2407, are under consideration this year that would directly benefit HECO’s bottom line especially as it faces millions of dollars in liability from lawsuits arising from the Maui fires.
The victim’s recovery fund — in excess of $175 million — would benefit the company and shareholders because recipients would be required to drop other legal claims against the utility. Lawmakers are debating whether to approve a request by Gov. Josh Green to put $65 million in state money in what is being called the One Ohana Fund.
State officials are also contemplating creating another taxpayer-funded pot of cash to pay off property damage claims in a similar effort to get ahead of any potential judgments that might come from lawsuits related to the Maui fires.
HEI And HECO Executive Contributions
Campaign contributions by HEI and HECO employees have amounted to tens of thousands of dollars over the past four years, state campaign finance records show.
Political contributions by the Hawaiian Electric Committee for Enlightened Government PAC (formerly HEI CEG) are widespread but relatively modest.
Hawaiian Electric CEG (formerly HEI CEG) donated $28,750 to 64 state and county candidates and lawmakers between January 2020 and January 2024 according to Hawaii Campaign Spending Commission data.
Hawaiian Electric’s PAC is funded voluntarily by executives and managers of the utility and they are not reimbursed directly or indirectly through compensation increases, according to the company’s most .
“Hawaiian Electric鈥檚 contribution decisions are based on the alignment of candidates with the company鈥檚 business strategy, objectives and values,” the report said.
The majority of donations to candidates and members were in the range of $200 to $500 each, but some lawmakers have received multiple contributions.
Top elected officials who received money from the PAC include Sen. Donovan Dela Cruz $2,000, Sen Lynn DeCoite $1800, House Speaker Scott Saiki $1,500 and Senate President Ron Kouchi $1,000.
Honolulu Mayor Rick Blangiardi got $1,200 from Hawaiian Electric CEG, the largest amount to any county lawmaker over the four years.
The total amount of individual donations by Hawaiian Electric Industries and Hawaiian Electric Co. executives since 2020 comes in at just under $30,000.
Gov. Josh Green took in two-thirds of that total with $19,375 in individual donations between July 2022 and October 2023. A dozen HECO and HEI executives gave substantial contributions including $4,000 from HECO President Shelee Kimura and $3,000 from HEI President and CEO Scott Seu. Green did not receive any funds from Hawaiian Electric CEG.
Lt. Gov Sylvia Luke received a total of $6,300 from Seu and other executives.
Saiki received $2,000 in total from Kimura, Seu and HECO VP Darcy Endo-Omoto, and Dela Cruz received $750 from Seu.
