Hawaii residents breathed a sigh of relief as Hurricane Lane disintegrated into a tropical storm, but authorities warned that its thrashing winds and relentless rain will remain a threat into the weekend.

Even if the center of Lane doesn’t make landfall, the islands could be walloped with rain and wind. Public schools on the Big Island and in Maui County are closed Wednesday until further notice.

The Hartling Group, owners of three luxury resorts in Turks and Caicos recently created its new “No-Hassle, 100% Refund Policy,” in the event of a hurricane threat.

Previously a stationary hurricane, the tropical storm has now jumped in the jet stream and is racing to the northeast at around 35 mph.

The Caribbean lost more than $1 billion in tourism revenue after hurricanes deterred visitors during the costliest storm season on record, and recovery efforts could cost close to $6 billion.

Hurricane Bud weakened to a tropical storm off Mexico’s Pacific coast on Wednesday, the U.S National Hurricane Center said, adding that it should diminish further before hitting the Baja California peninsula late the next day.