Assuming it is an electric water heater...
Has the breaker tripped?
At the panel the breaker could have moved just a little bit and not look tripped.
Move the breaker all the way out from the center of the panel and then all the way back in.
Breakers do not trip without a reason.
Assuming the water heater and the mini split system are fed by the same panel...
Check that breaker in the same way.
Could the real problem be inside the breaker panel?
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