Bermuda braces for Hurricane Gonzalo

People clear trees from a road on the island of St. Martin in the aftermath of Hurricane Gonzalo.

• It's the most powerful storm in Bermuda in recent years


• Hurricane Gonzalo is churning through the North Atlantic


• Ana is threatening Hawaii as it nears hurricane strength

(CNN) -- Bermuda is bracing for one of the most powerful storms in recent years.

Hurricane Gonzalo is churning through the North Atlantic, tracking for the island with wind speeds weakening to 120 miles per hour late Wednesday night, according to the National Hurricane Center in Miami.

The storm was listed as a Category 3 hurricane after briefly reaching Category 4 status earlier when wind speeds reached 130 mph, before weakening slightly.

The storm is moving is expected to brush Bermuda on Friday morning, according to the National Weather Service. But Gonzalo's path is still uncertain enough that officials aren't yet ruling out a direct hit on the island.

Bermuda is now under a hurricane warning. Gonzalo is expected to cause powerful, gusty winds, heavy rains and flooding as it closes in.

The storm hit the Virgin Islands on Monday, causing some property damage and power outages.

Meantime, Tropical Storm Ana in the Pacific also is on the radar.

The storm is strengthening and could reach hurricane status by this weekend, according to forecasters.

Ana's winds measured 70 miles per hour, close to hurricane strength. It is forecast to intensify into at least a Category 1 hurricane with wind gusts up to 100 miles per hour by Friday, officials said.

If it stays on its current track, it will directly impact the Hawaiian Islands by this weekend into early Monday, according to the National Hurricane Center.

Hurricanes are a rare occurrence in Hawaii, the agency said. Only three storms have made a direct landfall on the islands in the past 55 years.

CNN's Taylor Ward, Steve Almasy, Dave Hennen and Christina Zdanowicz contributed to this report.