Victims of the Maui wildfires reached a $4 billion settlement, court filings say, a year after flames leveled the tourist town of Lahaina and killed over 100 people.
Seven defendants will shoulder the payout, which remains subject to court approval, according to the office of Hawaii Gov. Josh Green, who announced the settlement Friday.
The defendants include the state of Hawaii, Maui County, Hawaiian Electric, Kamehameha Schools, West Maui Land Co., Hawaiian Telcom and Spectrum/Charter Communications.
They will pay “all those who have brought claims for compensation arising from the Aug. 8, 2023, windstorms and wildfires on Maui, including the approximately 2,200 affected parties who filed lawsuits,” according to a release from the governor’s office.
Mr. Green noted that reaching an agreement less than a year after the tragedy in Maui was “unprecedented” and would help people affected by the fires rebuild their lives soon.
“This global settlement of over $4 billion will help our people heal,” Mr. Green said. “My priority as governor was to expedite the agreement and to avoid protracted and painful lawsuits so as many resources as possible would go to those affected by the wildfires as quickly as possible.”
The Hawaiian wildfires scorched over 2,000 acres in Lahaina and hundreds of acres in Kula and Olinda on the island of Maui, killing 102 people. According to estimates from Moody’s RMS, the damage and destruction to homes, businesses and infrastructure could result in up to $6 billion in losses.
The agreement comes as concerns mounted that Hawaiian Electric could be on the edge of bankruptcy after millions in wildfire-related costs and lawsuits. The company is expected to pay $1.99 billion as part of the settlement.
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