A two-temperature magnetohydrodynamic (MHD) model, which evolves the electron and ion temperatures separately, is implemented in the PSI-Tet code and used to model plasma dynamics in the HIT-SI experiment. When compared with single-temperature Hall-MHD, the two-temperature Hall-MHD model demonstrates improved qualitative agreement with experimental measurements, including: far-infrared interferometry, ion Doppler spectroscopy, Thomson scattering, and magnetic probe measurements. The two-temperature model is utilized for HIT-SI simulations in both the PSI-Tet and NIMROD codes at a number of different injector frequencies in the 14.5 − 68.5 kHz range. At all frequencies the two-temperature models result in increased toroidal current, lower chord-averaged density, and symmetrization of the current centroid, relative to single-temperature simulations. Both codes produce higher average temperatures and toroidal currents as the injector frequency is increased. Power balance and heat fluxes to the wall are calculated for the two-temperature PSI-Tet model and indicate considerable viscous and compressive heating, particularly at high injector frequency. Parameter scans are also presented for the artificial diffusivity, and Dirichlet wall temperature and density. Artificial diffusivity and the density boundary condition both significantly modify the plasma density profiles, leading to larger average temperatures, higher toroidal current, and increased relative density fluctuations at low diffusivity and low wall density. High power, low density simulations at 14.5 kHz achieve sufficiently high gain (G ≈ 5) to generate significant volumes of closed flux lasting 1-2 injector periods.