Weather & Science
Maui’s Economic Toll from Fires Estimated as High as $6 Billion
- Moody’s assessment includes property damage, loss of business
- Estimate does not cover broader impact on tourist economy
Burned homes and cars in Lahaina, Maui, Hawaii, on Aug. 18.
Photographer: Justin Sullivan/Getty ImagesThis article is for subscribers only.
Economic losses from this month’s devastating Maui wildfires could range from $4 billion to $6 billion, the Moody’s RMS risk modeling service estimates, as disruptions to jobs and business activity combine with damage to thousands of properties.
The estimate covers the fire that destroyed seaside Lahaina, killing at least 115 people, and the one in Kula in Maui’s upcountry. Most of the losses, however, come from Lahaina, a popular tourist destination whose historic core — once the capital of the Hawaiian Kingdom — was reduced to ash.