That's about all I've got. I looked at the site, specifically for the tensor solutions (this is one from the other day in that cluster.) They can tell you what kind of movement is occuring - is it vertical or horizontal? I'm pretty rusty reading these things, but it appears to be along a moderately steeply dipping fault, sliding downwards. Nick would be better at reading the tensor solution than I. Also, it will help when the USGS posts a map of a bunch of tensor solutions for this cluster.

How close is this to the escarpment to deeper water? I don't have a good bathymetric map of Hawaii at hand.

It's the wrong direction for volcanic activity...but you never know. Movement along a transform is possible, those are usually horizontal movements, though. Three miles is pretty deep for a slide...

Interesting