Hurricane Earl swirled toward the East Coast on Wednesday with treacherous winds and driving rain, forcing thousands of vacationers to evacuate parts of the Outer Banks and setting in motion a flurry of preparations to minimize damage as far north as Maine. The National Weather Service restored Earl to a Class 4 hurricane late Wednesday when its winds increased to 140 mph, which, coupled with heavy rain, threatens extensive destruction depending on how close it comes to shore. "This is a dangerous situation," said Gladys Rubio, a meteorologist at the National Hurricane Center in Miami. The last time a hurricane became such a threat to the East Coast was in 1991, when Hurricane Bob caused an estimated $620 million in damage, officials said. Earl is expected to approach the vulnerable Outer Banks on Thursday night and the Delmarva Peninsula by Friday. The storm was 520 miles southeast of Cape Hatteras at 11 p.m. Wednesday, moving north-northwest at 18 mph, with hurricane-force winds extending 90 miles from the center and tropical storm-force winds extending 230 miles. Forecasters cautioned that just a slight deviation of the storm's path could bring the strongest winds and heaviest rains closer or even on shore. "It's very important to prepare for the worst and see what happens," Rubio said. Days before the usually busy Labor Day weekend, officials began evacuations. As many as 30,000 tourists were expected to evacuate Hatteras Island, along with 800 year-round residents, as were approximately 4,200 tourists on Ocracoke Island. About 4,800 permanent residents of Hatteras have not been asked to leave. As of noon Wednesday, 336 vehicles and 723 passengers had left Ocracoke on ferries. President Obama declared a state of emergency in North Carolina late Wednesday and ordered federal agencies to help state and local officials with relief efforts, the Associated Press reported. Virginia Gov.Robert F. McDonnell and Maryland Gov. Martin O'Malley also declared states of emergencies. O'Malley advised travelers not to drive to or from Ocean City during the height of stormy weather Friday. Beaches in Virginia, Maryland and Delaware are likely to see showers and wind gusts to tropical-storm force late Thursday into Friday, with strong waves, dangerous rip currents and possibly minor coastal flooding, forecasters said. Good weather is expected to return for the weekend after Earl passes.