Applause echoed through the Hawaiʻi Legislature this week after a significant vote on House Bill 1001, which aims to settle claims related to the devastating Maui wildfires that occurred in August 2023. This measure is crucial for the many individuals and businesses affected by the fires, which tragically claimed 102 lives.
Representative David Tarnas expressed gratitude to the Finance Committee and Senate for their support in moving HB 1001 forward. If the bill passes through the full House and Senate and is signed by Governor Josh Green, it will establish a trust fund with an initial deposit of $807 million over the next four years. This fund is part of a larger $4.04 billion settlement that includes contributions from Hawaiian Electric Co. and Kamehameha Schools.
The trust fund is designed to help settle lawsuits from over 1,000 claimants who suffered losses due to the fires. The funds will compensate victims for property damage, personal injury, emotional distress, and economic losses. The legislation emphasizes a quick and compassionate response to the needs of those impacted while also easing the burden on the judicial system.
In February, the HawaiĘ»i Supreme Court approved this settlement, dismissing a challenge from the insurance industry. Nearly 200 insurers had already paid out over $2.3 billion to policyholders and were seeking to recover those costs through lawsuits against parties they believe contributed to the fire’s spread.
The allocation of the state funds and the specific compensation amounts for individuals are still being finalized. Kamehameha Schools must also secure approval from state probate court and the IRS for its portion of the settlement. Hawaiian Electric has already raised $500 million for its initial share.
Additionally, the state has committed $65 million to the One ʻOhana Fund, which supports families affected by the wildfires. This fund was established by the Green administration to assist those who lost loved ones or suffered serious injuries. Contributions to this fund have come from various sources, including $75 million from Hawaiian Electric and additional amounts from Kamehameha Schools and Maui County.
As the community continues to recover from this tragedy, the passage of HB 1001 represents a hopeful step toward rebuilding lives and restoring the spirit of the affected areas.