A historic $4.037 billion global settlement has been reached to resolve all claims related to the devastating Maui wildfires that occurred on August 8, 2023, killing 102 people and destroying Lahaina's historic downtown. The settlement includes seven defendants, notably Hawaiian Electric and Charter Communications, and aims to compensate approximately 2,200 affected parties. Hawaii Governor Josh Green praised the swift resolution as unprecedented and a step toward healing for the community, emphasizing the need to expedite resources for those impacted. Although the settlement is seen as a necessary step, some attorneys and victims believe the amount is insufficient to fully address the losses suffered. Payments from the settlement are expected to begin following final court approval, which could come as early as mid-2025. The agreement aims to prevent insurance companies from pursuing separate claims against the defendants, alleviating some financial pressure on them amidst fears of Hawaiian Electric's potential bankruptcy.