Future of hurricane relief fund remains uncertain after board meeting

HONOLULU (KHON2) — The future of Hawaii’s hurricane relief fund is still undecided following a board of directors meeting held Friday.

The board chose to postpone any decision on reinstating the fund, citing concerns over inadequate coverage for condominiums amid skyrocketing insurance rates.

Insurance rates have surged by up to 1,000 percent since the Maui wildfires, leaving many condominiums underinsured.

The board is unsure if these conditions will improve or if there is a need to revive the hurricane relief fund.

“It’s like looking into a crystal ball,” said a board member when asked about the fund’s potential reactivation. “We don’t know when or if it will be available.”

The board highlighted that the current situation differs significantly from that in 1993, when the relief fund was initially established following Hurricane Iniki, which led to over $1 billion in insurance claims and drove insurers out of the state.

The fund ceased operations in 2000 as private sector coverage became more available.

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The board’s decision to delay action reflects the ongoing uncertainty and challenges in the insurance market, particularly for condominium coverage.