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SEC filingHawaiian Electric Industries authorized payment of the first $479 million installment under 2023 Maui wildfires settlement agreements after all conditions were met on April 10, 2026.
The disclosure marks a pivotal milestone in resolving litigation from the 2023 Maui wildfires, with the final condition—the unappealable judgment on over 200 insurers' subrogation claims obtained December 30, 2025—triggering the first $479 million payment out of a total $1.916 billion across four annual installments. This payment, funded by HEI's prior equity raise and segregated in a special purpose vehicle, removes a key overhang for investors by activating claimant releases and advancing closure on tort claims. The structured payout eases immediate cash pressures while signaling progress toward full settlement finality, potentially reducing ongoing legal uncertainties and associated costs for HEI and Hawaiian Electric.