Hawaii Gov. Josh Green announced a historic $4.037 billion settlement Friday to resolve claims arising from the tragic Aug. 8, 2023, Maui wildfires that left more than 100 people dead, thousands of other people displaced and homes and businesses destroyed.

The settlement comes just before the one-year mark of the tragedy. The seven defendants – state of Hawai‘i, County of Maui, Hawaiian Electric, Kamehameha Schools, West Maui Land Co., Hawaiian Telcom and Spectrum/Charter Communications – undertook "significant efforts to find a resolution that addresses the needs and ensures the well-being of plaintiffs, all affected individuals, and their families," according to a press release from Green's office.

The settlement agreement remains subject to final documentation and court approval, according to Green's office.

This is a developing story. Please check back for updates.