http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20131211X33313
NTSB Identification: WPR14FA068
Scheduled 14 CFR Part 135: Air Taxi & Commuter
Accident occurred Wednesday, December 11, 2013 in Kalaupapa, HI
Aircraft: CESSNA 208B, registration: N687MA
Injuries: 1 Fatal,3 Serious,5 Minor.
This is preliminary information, subject to change, and may contain errors. Any errors in this report will be corrected when the final report has been completed. NTSB investigators either traveled in support of this investigation or conducted a significant amount of investigative work without any travel, and used data obtained from various sources to prepare this aircraft accident report.
On December 11, 2013, at 1522 Hawaiian standard time, a Cessna 208B, N687MA, sustained substantial damage following a loss of engine power and ditching into the Pacific Ocean near Kalaupapa, Hawaii. The airline transport pilot and two passengers were seriously injured, one passenger was fatally injured, and five passengers received minor injuries. Makani Kai Air was operating the flight under the provisions of 14 Code of Federal Regulations Part 135. Visual meteorological conditions prevailed for the cross-country flight, which had originated about 2 minutes before the accident. A company flight plan had been filed. The flight departed from the Kalaupapa airport on the island of Molokai, and was en route to Honolulu International airport, on the island of Oahu.
The pilot stated that shortly after takeoff, a loud bang was heard and there was a total loss of power. After a short glide, he performed an open ocean ditching. The airplane floated for approximately 25 minutes and then sank. All the passengers put on their life preservers and exited the airplane. US Coast Guard and Maui Fire and Rescue personnel recovered the passengers approximately 80 minutes later.
"Substantial damage" from an insurance standpoint, perhaps.
You saw the pics of the plane floating in the water, cabin intact, wings still in place, rudder, stabilizers, tail section intact, engine still in the mounts, landing gear extended and in place.
IOW, pretty much in one piece, despite the fact that it would be unlikely the plane would be recovered in any condition to be made flyable again.
For insurance purposes, the plane was a write-off and had suffered "severe damage" from the standpoint it would be uneconomical to fix and return to service.
Physically, however, all the major parts were pretty much where they were supposed to be.