Cause of Hawaii Boat Fire Under Investigation

The owner of a sailboat that burned and sank about a mile south of Waikiki says the vessel is estimated to be worth $1.8 million.

Honolulu Fire Department Capt. Terry Seelig said Friday investigators are verifying that amount with the insurance company.

The Coast Guard says a rough estimate of the value is about $440,000.

Ronald Woodward of Waikoloa and his son were rescued Thursday after jumping overboard when the boat caught fire.

Woodward says the boat was insured for $500,000.

The cause of the fire is still under investigation.

Tourists and surfers in Waikiki watched a thick cloud of black smoke billowing from the vessel and a fire boat spraying it with water.

Seelig says Woodward and his son suffered minor scrapes and bruises while getting off the sailboat.