Hawaii Utility Responsible for Devastating Maui Fire Gives CEO Huge Raise

The CEO of the utility blamed for one of the deadliest fires in American history just got a fat paycheck boost—while hundreds of families are still picking up the ashes of their lives.

Scott Seu, CEO of Hawaiian Electric Industries (HEI), pocketed a $1.7 million raise in 2024, bringing his total pay to $6.5 million—this, after his company was found responsible for sparking the catastrophic Lahaina wildfire that killed 102 Americans and leveled historic parts of Maui.

While many Hawaiians mourned and rebuilt, HEI’s board of directors was busy rewriting bonus rules and handing out golden parachutes to its top brass.

“This is a slap in the face to every family who lost someone in those flames,” said former Maui firefighter and Lahaina native Daniel Kealoha. “They get raises—we got funerals.”

The August 2023 blaze incinerated 2,200 structures in Lahaina, a town rich in American history and Hawaiian heritage. Investigators with the federal Bureau of Alcohol, Tobacco, Firearms and Explosives confirmed what many suspected: Hawaiian Electric’s aging and overloaded power lines sparked the fire.

The utility later agreed to a $1.9 billion legal settlement—its share of a larger $4 billion payout—meant to settle hundreds of lawsuits. But victims are still waiting. The company won’t start paying until late 2025. And it’ll take four years to finish.

Seu wasn’t the only one cashing in.

• Shelee Kimura, head of Hawaiian Electric Co., saw her pay soar 74% to $1.5 million.
• Ann Teranishi, former CEO of HEI’s banking arm, American Savings Bank, more than doubled her earnings to $2.6 million.
• The company posted a $1.4 billion loss last year.

Let that sink in: record losses, wildfire liability—and record raises.

The board justified the compensation by saying the executives “steered the company away from bankruptcy” and “avoided a bailout” by raising capital and selling off assets, including a 90% stake in the company’s bank.

“If you start the year facing bankruptcy, then end it in a stronger position—that’s a win,” said Julie Smolinski, HEI’s VP of strategy, in a tone-deaf defense.

“Executives are being rewarded for survival, not success,” said Mark Weston, a California-based utility accountability expert. “It’s corporate spin at its worst.”

You are.

Hawaiians already pay the highest electricity rates in the nation, and Seu’s 2024 pay was 58 times more than the average HEI worker, who makes around $112,000.

And let’s be clear: this wasn’t performance-based. The board actually changed the rules mid-game, adjusting bonus targets so executives could still hit their pay goals—despite failing original performance metrics.

This isn’t just a Hawaiian story. It’s a warning.

America’s corporate class keeps writing its own rules—while middle-class families suffer the consequences. And in this case, people died. Homes were lost. Heritage destroyed.

And the ones at the top? They got richer.

“Under a Trump administration, these kinds of corporate bailouts in disguise would be unacceptable,” said Tom Hastings, a former Trump energy advisor. “We need leadership that puts the people—not the executives—first.”

HEI’s first $500 million payment toward the wildfire settlement is due no earlier than Q4 of 2025. The rest will trickle out in yearly installments.

Until then, families in Lahaina are left waiting. Watching. Wondering when justice—real justice—will arrive.

Corporate elites created a disaster, buried it in lawsuits, and walked away with millions. If that doesn’t fire you up, what will?