Honolulu Mayor Kirk Caldwell signed into law what's being called a Compromise Bill on fire safety Thursday.

Bill 96 gives condominium associations the power to decide whether or not to retrofit high-rises with sprinklers or complete a life safety evaluation.

The evaluation route requires fire safety experts telling associations what needs to be fixed to make their building safer and how much those changes would cost.

The Honolulu Fire Department reports about 370 residential high rises on O'ahu do not have fire sprinklers and they support efforts to get them installed in all buildings.

According to HFD, if a condo unit is on fire, residents only have about two minutes to get out.

"Within those two minutes. You'll have searing heat, you would have deadly smoke and toxic fumes that'll engulf your apartment so that's why a sprinkler is ideal for mitigating that kind of situation," Fire Chief Manuel Neves said.

The new law essentially gives associations the flexibility to consider options if sprinkler systems are too expensive.