Reliability:
The 2020+ Highlander Hybrid uses the same powertrain as pretty much all modern Toyota car-based hybrids (2018-2024 Camry, current Rav4, current Sienna, and so on). It is an extremely reliable powertrain that doesn't have a lot of widespread issues assuming that you maintain it properly. Regular maintenance is key to a happy ownership experience- including cleaning/replacing the hybrid fan filters.
You might want to go to YouTube and search up the CarCareNut's channel- he has a lot of Toyota hybrid-specific videos that are really informative- you don't have to just stick with the Highlander Hybrid (as I mentioned, many other Toyotas and Lexus models use the same exact hybrid powertrain as the 2020+ Highlander).
Maintenance:
Maintenance is no different than any other modern Toyota- with the exception that you'll need to clean/replace the hybrid fan filter from time-to-time. In many ways, maintenance costs are generally lower (until the vehicle gets older and the hybrid battery itself needs to be replaced). Things like brake pads, rotors, and calipers all will likely last longer on a hybrid compared to a non-hybrid, as the vehicle's regenerative braking system takes a lot of the stress and wear off of those components.
Toyota calls for basic maintenance every 5,000 miles (inspection and tire rotation), oil changes and additional inspections every 10,000 miles, and other components to be inspected or changed a bit less frequently. You can look through the recommended maintenance schedule on Toyota's website- go to the upper left corner of the home screen and click on 'owners', then 'manuals and warranties'... then select a 2020/2021/2022/2023/2024 Highlander Hybrid and scroll down and find the 'Warranty and Maintenance Guide'.
Personally, I would recommend oil changes every six months or 5,000 miles- not 10,000 miles. It's largely a personal decision though. The CarCareNut has a few videos that discusses oil change intervals on modern Toyotas- and they are worth a watch. He is a former Toyota Master Diagnostic Tech- and worked at a Toyota dealership for many years before opening his own shop in the Chicago area that works exclusively on Toyota and Lexus vehicles. He knows his stuff.
Mileage:
As the saying goes, your mileage will vary. Hybrids can get really awesome mileage if driven a certain way in ideal situations. Hybrids can get 'meh' fuel economy if driven hard or driven in less-than-ideal situations.
Getting the best mileage (which often can exceed official MPG figures largely depends on how closely you can match the 'ideal' conditions:
-Driving at a leasurely pace with gradual acceleration and braking.
-The ambient temperature outside is moderate- between 55F and 75F.
-Roads are smooth
-Moderate use of the HVAC system
-Combining short trips into a single trip- so that the engine doesn't cool down.
-Wind direction is at the vehicle's back (or low wind conditions)
-Proper tire pressure
Things that will significantly reduce MPG:
-Heavy use of the heat in winter or the A/C in summer
-Heavy acceleration and strong braking
-Lots of short trips where the gas engine has a chance to cool down.
-Low tire pressure
-Driving in snow and cold weather
-Driving into heavy wind / strong wind resistance
-A full load of cargo or having seven or eight people on board (extra weight = lower efficiency)
The hybrid system is most efficient when the vehicle's gas engine is warmed up to normal operating temperature, the vehicle is driven conservatively (no strong acceleration or sudden and strong braking), and the outside temperature is moderate so that the HVAC system doesn't have to work very hard to heat/cool the cabin.
Purchase / Purchase Again?
I really wanted a Highlander Hybrid Platinum- but those are extremely hard-to-find and generally fetch top dollar- both in terms of new and used. I ended up settling for the gas version- but would have bought the hybrid if I could have gotten one. They are excellent vehicles that hold their value really well over the first few years of ownership. As they get older (10+ years), the resale value starts to fall pretty drastically as the potential of battery replacement becomes more of a concern. I was able to get my non-hybrid Highlander Platinum for $3000ish off MSRP last year. No such discount existed for the rare Highlander Hybrid Platinum that appeared from time-to-time on my local dealer's lot- those were always sold for MSRP- so not only would it have cost me $3000 more in terms of that discount- but the hybrid is also about $1500 more than the non-hybrid Highlander- so it would have been roughly $4500 more expensive for me to go with the hybrid- if I could have found one.
There's certainly a demand for Highlander Hybrids- which speaks volumes about the whole "would you buy it again" question. Sales don't lie.