(MAUI, Hawaii.) -- Hawaii Gov. Josh Green announced a historic $4.037 billion settlement Friday to resolve claims arising from the tragic Aug. 8, 2023, Maui wildfires that left more than 100 people dead, thousands of others displaced and homes and businesses destroyed.
The settlement addresses roughly 450 lawsuits filed by individuals, businesses, and insurance companies in both state and federal courts in connection with the fires in Lahaina and Upcountry on the island of Maui.
The settlement agreement remains subject to final documentation and court approval, according to Green's office. Once a final settlement agreement is signed and approved following judicial and legislative review, payments are expected to start as early as mid-2025.
As of now, the governor's office states that the agreement is conditional "on the resolution of the insurance companies’ claims that have already been paid for property loss and other damages, with no additional payments from the defendants."
"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," said Green in a Friday statement. "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."
As the community prepares to mourn those who've been lost one year later, the community is also still in the midst of its rebuilding, with building permits newly being issued, debris removal ongoing and some families still displaced.
The destruction from the wildfires forced Maui local officials and its residents to reckon with a slate of issues that had been plaguing the community.
The impact of tourism, climate change, lack of affordable housing and more became pivotal points in the community's recovery effort.
"In light of the recent settlement, the County will continue working with wildfire victims and their representatives to provide services and resources throughout the recovery period," the County of Maui said in a press release Friday evening.
"The agreement is an important first step and represents the commitment of the signatories towards reaching a final settlement that would provide compensation to those impacted by the tragic fires," said County Corporation Counsel Victoria Takayesu. "The County remains steadfast in its commitment to rebuild Lahaina and support its community."