The wildfires in Maui are just the latest example of severe weather and the peril facing utilities. However, investors can pick up about 4% yield on stocks that have dividends that are considered safe, which makes them attractive to investors seeking income. Climate change's impact Climate change is altering not only the Earth's temperature, but also precipitation patterns, said Zachary Zobel, risk associate director at Woodwell Climate Research Center. Climate change could impact utilities in other areas, like sustaining damage during hurricanes and floods. "You don't have to just rely on just one sector to get dividend income," said Cheng.

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Persons: hasn't, Michael Lonegan, Neil Kalton, Kalton, Zachary Zobel, Zobel, Berkshire Hathaway, PacificCorp, Wells Fargo's Kalton, it's, Marguerita Cheng, Cheng, — CNBC's Michael Bloom Organizations: Hawaiian Electric, Maui Electric, Electric, NBC News, Evercore ISI, Wall Street, Wells, Wells Fargo Securities, FEMA, Woodwell Climate Research Center, Gas & Electric, Blue, Global, CNBC, & $ Locations: Maui, Lahaina, Wells Fargo, California, Berkshire