Anchor drop costs yacht owner $100K

  • The anchor from the Formosa is seen on the coral in Kailua Bay on Tuesday. (Photo courtesy Bryce Fielder Big Island Watersports/Special to West Hawaii Today)

  • Chain from the anchor of the 196-foot Formosa is seen laying over the coral in Kailua Bay on Tuesday. (Photo courtesy Bryce Fielder Big Island Watersports/Special to West Hawaii Today)

  • The luxury craft Formosa is positioned in Kailua Bay Wednesday morning. (Laura Ruminski/West Hawaii Today)

  • Top: The luxury craft Formosa is positioned in Kailua Bay Wednesday morning. Left: The anchor from the Formosa is seen on the coral in Kailua Bay on Tuesday. Right: Chain from the anchor of the 196-foot Formosa is seen laying over the coral in Kailua Bay on Tuesday. (Photos courtesy Bryce Fielder Big Island Watersports/Special to West Hawaii Today)

The owner of a 197-foot luxury yacht that dropped anchor nearly two years ago in Kailua Bay, damaging hundreds of square feet of coral, will pay $100,000 in a settlement meted with the state.