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We report on the power and microwave noise performance of AlGan/GaN high electron-mobility transistors (HEMTs) at frequencies f > 18 GHz (K- and Ka-bands). At 20 GHz, a record continuous-wave output power of 1.6 W has been achieved on an eight-finger 500-mum total gate-periphery device. At 29 GHz, a 120-mum gate-periphery device showed a pulsed output density of 1.6 W/mm with an associated gain of 6.7 dB and power-added efficiency of 26%. Minimum noise figure of 1.5 dB has been achieved on a 0.2 mum x 200 mum device at 26 GHz. The data demonstrate the viability of AlGan/GaN HEMTs for high-frequency power and low-noise amplifier applications.