HAWAIIAN ELECTRIC CO INC
8-A12B, 1997-03-25
ELECTRIC SERVICES
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<PAGE>
 
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                  __________

                                   FORM 8-A

                                  __________

               FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES
                   PURSUANT TO SECTION 12(b) OR 12(g) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                                  __________

Hawaiian Electric                   Hawaii                         99-0040500  
  Company, Inc.                   (State of                     (I.R.S. Employer
 (Exact name of                  incorporation                  Identification  
  registrant as                  or organization)                      No.)
  specified in
   its charter
                 
                  900 Richards Street, Honolulu, Hawaii 96813
         (Address of principal executive offices, including zip code)

HECO Capital                      Delaware                        55-6834193  
  Trust I                      (State of                       (I.R.S. Employer 
(Exact name of                 incorporation                    Identification
registrant as                  or organization)                       No.)  
 specified in
its certificate
   of trust)


           c/o The Bank of New York, 101 Barclay Street, 21st Floor,
                             New York, N.Y. 10286
              Attention:  Corporate Trust Trustee Administration
         (Address of principal executive offices, including zip code)


If this Form relates to the registration of a class of debt securities and is
effective upon filing pursuant to General Instruction A(c)(1), please check the
following box.  [_]

If this Form relates to the registration of a class of debt securities and is to
become effective simultaneously with the effectiveness of a concurrent
registration statement under the Securities under the Securities Act of 1933
pursuant to General instruction A(c)(2), please check the following box. [_]
<PAGE>
 
Securities to be registered pursuant to Section 12(b) of the Act:

  Title of Each Class                             Name of Each Exchange on Which
  to be so Registered                             Each Class is to be Registered
  -------------------                             ------------------------------
8.05% Cumulative Quarterly                        New York Stock Exchange, Inc.
Income Preferred Securities
(QUIPS(SM)) of HECO Capital
        Trust I
 (and the Guarantee with
     respect thereto)

Securities to be registered pursuant to Section 12(g) of the Act:  None

                                       2
<PAGE>
 
                INFORMATION REQUIRED IN REGISTRATION STATEMENT

ITEM 1.  DESCRIPTION OF REGISTRANTS' SECURITIES TO BE REGISTERED.

     The class of securities to be registered hereby consist of the 8.05%
Cumulative Quarterly Income Preferred Securities (the "QUIPS/SM/" or "Trust
Preferred Securities"), representing preferred undivided beneficial ownership
interests in the assets of HECO Capital Trust I, a statutory business trust
formed under the laws of the State of Delaware (the "Trust"), together with the
Trust Preferred Securities Guarantee by Hawaiian Electric Company, Inc., a
Hawaii corporation, in favor of the holders of the Trust Preferred Securities
(the "Trust Guarantee").

     For a description of the Trust Preferred Securities and the Trust
Guarantee, reference is made to the information set forth under the headings
"Description of QUIPS" and "Description of Trust Guarantee" in the Registration
Statement on Form S-3 (Registration Nos. 333-20757, 333-20757-01, 333-20757-02
and 333-20757-03) filed with the Securities and Exchange Commission (the
"Commission") on January 30, 1997 under the Securities Act of 1933, as amended
(the "Act"), and Amendment No. 1 and Amendment No. 2 thereto filed with the
Commission on March 13, 1997 and March 20, 1997, respectively (such Registration
Statement, as so amended, being hereinafter referred to as the "Registration
Statement"), which description is incorporated herein by reference. Definitive
copies of the prospectus describing the terms of the Trust Preferred Securities
and the Trust Guarantee will be filed pursuant to Rule 424(b) under the Act and
shall be deemed to be incorporated herein by reference.

ITEM 2.  EXHIBITS

2.1    Certificate of Trust dated as of December 31, 1996 of HECO Capital Trust
       I (incorporated herein by reference to Exhibit 4(a) to the Registration
       Statement).

2.2    Form of Amended and Restated Trust Agreement of HECO Capital Trust I
       (incorporated by reference to Exhibit 4(c) to the Registration
       Statement).

2.3    Form of Trust Guarantee Agreement between Hawaiian Electric Company,
       Inc., as guarantor, and The Bank of New York, as trust guarantee trustee
       (incorporated by reference to Exhibit 4(g) to the Registration
       Statement).

                                       3
<PAGE>
 
2.4    Form of HECO Junior Indenture with The Bank of New York, as trustee, in
       connection with the issuance of HECO Junior Subordinated Debentures
       ("QUIDS") to the Trust (incorporated by reference to Exhibit 4(d) to the
       Registration Statement).

2.5    Form of Subsidiary Junior Indenture with The Bank of New York, as
       trustee, to be used in connection with the issuance of the MECO QUIDS,
       the HELCO QUIDS and the Subsidiary Guarantees (incorporated by reference
       to Exhibit 4(h) to the Registration Statement).

2.6    Form of Trust Preferred Security (included in Exhibit 2.2 above).

                                       4
<PAGE>
 
                                  SIGNATURES

     Pursuant to the requirements of Section 12 of the Securities Exchange Act
of 1934, the registrants have duly caused this registration statement to be
signed on their behalf by the undersigned, thereunto duly authorized.


                                      HECO CAPITAL TRUST I

Date:  March 25, 1997                 By Hawaiian Electric Company, Inc.
                                        as depositor


                                      By: /s/ Paul A. Oyer
                                         --------------------------- 
                                       Name:  Paul A. Oyer          
                                       Title: Financial Vice        
                                          President and             
                                          Treasurer                 
                                                                    
                                                                    
                                      By: /s/ Marvin A. Hawthorne
                                         --------------------------- 
                                         Name:  Marvin A. Hawthorne 
                                         Title: Assistant Treasurer  



                                      HAWAIIAN ELECTRIC COMPANY, INC.       
                                        as Trust Guarantor and          
                                        Subsidiary Guarantor            
                                                                        
                                      By: /s/ Paul A. Oyer
                                         --------------------------- 
                                         Name:  Paul A. Oyer            
                                         Title: Financial Vice          
                                                President and Treasurer 
                                                                        
                                                                        
                                                                        
                                      By: /s/ Marvin A. Hawthorne
                                         --------------------------- 
                                         Name:  Marvin A. Hawthorne     
                                         Title: Assistant Treasurer      

                                       5


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