Hawaii residential electricity rates

Analyst note

The Hawaii residential price sat above the U.S. average in 10 of 10 years; the gap was +16.95 ¢ in 2015 and +26.38 ¢ in 2024. In the 2024 ranking Hawaii sits between California (31.97 ¢) one place below; the top of the list is 0.00 ¢ away and the bottom 31.35 ¢. Hawaii was 1st in 2015 with 29.60 ¢ and is 1st now; no move in the table. Hawaii residential prices rose in 5 of 9 years. The largest rise was +28.5% in 2022, and the largest fall -7.2% in 2016. The Hawaii price peaked at 43.03 ¢ in 2022 and bottomed at 27.47 ¢ in 2016; 2024 is 0.4% below the peak and +56.0% from the low. Compounded, that is +4.20% a year in Hawaii, +1.22 points against the U.S. Hawaii buys 0.18% of all U.S. residential electricity with 0.31% of the accounts, so the average Hawaii account uses 0.57 times the national average.

A top-ten price: 42.86 ¢/kWh for Hawaii residential accounts, rank 1 of 51, +160.1% against the U.S. Hawaii: +44.8% over nine years, or +4.2% a year, beating the national +30.3% by 14.5 points; 2022 was the biggest single move (+28.5%) and 2022 the high.

Last year's change in Hawaii was +1.1% and still rising. Against the commercial price of 38.18 ¢ the gap is 4.68 ¢. Residential sales are 29.6% of Hawaii electricity sold, and an average Hawaii account used 495 kWh a month, an implied bill near $212.

Counting revenue instead of kWh, Hawaii residential accounts bring in 33.4% of Hawaii sector revenue on 29.6% of the kWh, a premium of 3.8 points that comes from the price level: 42.86 ¢ here against 38.18 ¢ for commercial and 34.13 ¢ for industrial accounts. The average Hawaii residential account uses 495 kWh a month, 51 of 51 among states on that measure; a commercial account uses 7.99 times as much and a industrial account 711.80 times. Residential accounts are 88.07% of the 506,988 accounts in Hawaii.