Maui Wildfires Victims Secure $4.04 Billion Global Settlement After 2023 Disaster
A $4.04 billion global settlement has been agreed to compensate victims of the August 2023 Maui wildfires. The deal involves multiple parties, including Hawaiian Electric Co., Kamehameha Schools, and telecommunications firms. The Hawaiʻi Supreme Court approved the plan in February after rejecting an insurance industry challenge.
The settlement follows the devastating fires that killed 102 people and caused widespread property damage, injuries, and economic losses. House Bill 1001 was introduced to resolve claims linked to the disaster. If finalised, the state of Hawaiʻi will contribute $807 million to the Maui Wildfires Settlement Trust Fund over four years.
Hawaiian Electric Co. (HECO) has already secured $500 million for its share of the settlement. Kamehameha Schools still requires approval for its portion, though state probate court judges and the IRS have given preliminary consent. Around one-third of the total settlement is expected to cover legal fees for victims' lawyers.
In addition to the main settlement, the state has already provided $65 million to the One ʻOhana Fund, which includes contributions from HECO, Kamehameha Schools, Maui County, and telecommunications companies. However, the exact distribution of funds and individual compensation amounts remain undecided.
The trust fund will provide payments to affected individuals or their representatives. Final approvals and fund allocations are still pending. Once completed, the settlement will address claims for property loss, personal injury, and economic harm caused by the fires.
