Off the news: Settling up big time for Maui wildfires

There’s a huge gulp factor in legislators deciding to deposit half of $807.5 million into a trust fund next fiscal year — that’s nearly $404 million — as the state’s first-half portion of a major settlement. But it needs to be done, given that it’s part of a $4 billion global pact for all loss claims over the Aug. 8, 2023, Maui wildfires. The inferno killed 102 people and destroyed 3,500 homes along with other property.

If approved by the full Legislature, the deal will have the state paying its remaining share a year later. Other payers into the settlement include Hawaiian Electric Co. and Kamehameha Schools; payments will be spread over four years.