The parasitic capacitances induced in the spaces between an air-bridge interconnection and a drain pad (Cad), and between an air-bridge interconnection and a gate head (Cag) from a power CPW PHEMT are not negligible. In this paper, a modified equivalent circuit model for a CPW PHEMT and an improved CPW PHEMT for millimeter-wave applications are proposed. These were proved by measuring the fabricated CPW PHEMT and improved CPW PHEMT. These capacitances were confirmed by measuring the gate-source coupling using CPW PHEMT patterns without an active layer. From the measurements, the improved CPW PHEMT has the lowest coupling (loss) and the highest S21 gain among four different types tested at 60 GHz. And the improved CPW PHEMT is a feasible device which can be directly applied in millimeter-waves as a power device.