Destroyed homes and cars are shown in Lahaina, Hawaii, Aug. 13, 2023.Rick Bowmer | APThe catastrophic wildfires in Maui, Hawaii, have caused between $4 billion and $6 billion in economic losses, according to an estimate by Moody’s RMS on Tuesday.The estimate looked at property damage and business interruptions across residential, commercial, industrial and infrastructure assets, according to the firm, which models risks from climate change and natural disasters.The true cost of the deadliest wildfire in the U.S. in more than a century is almost certainly higher than the estimated property damage.The billions of dollars in estimated losses do not take into account the blaze’s effect on Hawaii’s gross domestic product, government spending on the response to the catastrophe or the social cost of the fires, according to Moody’s.Rebuilding will be costly as inflation drives up prices during the long …
