Hawaiian Electric agrees to $1.99 billion Maui wildfire tort settlement, subject to conditions
HEI and Hawaiian Electric entered two settlement agreements, effective November 1, 2024, to resolve tort claims from the 2023 Maui windstorm and wildfires, without admission of liability. The Companies are obligated to contribute a total of $1.99 billion, payable in four annual installments, but payments depend on conditions including insurer claims, state legislation and court approval.
Key points
- Total contribution of $1.99 billion, including $75 million previously contributed for the One 'Ohana Initiative
- Four equal annual installments of $478.75 million, with the first expected no earlier than the fourth quarter of 2025
- Settlement excludes securities and derivative actions and does not resolve insurer subrogation claims; $500 million reserved for defendants to address non-participating plaintiffs
- Both agreements remain subject to court approval and other conditions, and defendants may terminate under certain circumstances
The filing
Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.