Following months of deliberation, a $4.037 billion global settlement was announced Friday to resolve all tort claims connected with the Aug. 8, 2023, Maui wildfires.
The historic settlement comes almost a year to the day when a wildfire fueled by high winds decimated the small town of Lahaina on is the island of Maui. As of June 24, 2024, there have been 102 confirmed fatalities, many of whom had to be identified through DNA testing, according to KITV out of Honolulu.
“This global settlement of over $4 billion will help our people heal,” said Hawaii Gov. Josh Green in announcing the settlement. “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. Settling a matter like this within a year is unprecedented, and it will be good that our people don’t have to wait to rebuild their lives as long as others have in many places that have suffered similar tragedies.”
The seven defendants in the case — state of Hawaii, Maui County, Hawaiian Electric, Kamehameha Schools, West Maui Land Co., Hawaiian Telcom and Spectrum/Charter Communications— agreed to the massive sum providing compensation to almost 2,000 affected parties who filed lawsuits arising from the fires. The agreement also settles close to 450 lawsuits filed by individuals, business, and insurance companies.
In his statement Green said the overall scope of the recovery will approach $12 billion when insurance claims and county, state, and federal support are combined with the settlement.
The agreement still needs to be subjected to court approval and is conditional on the resolution of insurance company claims that have already been paid for property loss and other damages. Payments are expected to begin following approval by the Hawaii State Legislature and aim to start by mid 2025, according to the governor’s office.