The passage of a $200 million settlement between the state and the Office of Hawaiian Affairs settles a decades-old dispute. It also opens new opportunities.

The settlement transfers about 30 acres of prime Kakaako real estate to OHA, which will then waive all claims on revenue from former crown lands dating back to 1978.

After the historic Friday vote, OHA Chairwoman Collette Machado said the quasi-state agency has yet to come up with a formal plan because it would have been premature to look at the big picture while the settlement was still pending.

Now the only thing left is Gov. Abercrombie’s signature. The governor said the bill signing will most likely take place at a ceremony at Washington Place, the former home of Hawaii’s last reigning monarch, Queen Liliuokalani.