A magnitude 7.4 earthquake struck in the Molucca Sea off Indonesia's Ternate island early Thursday, killing at least one person.

The quake hit at 06:48 local time (22:48 GMT) at a depth of 35km and prompted tsunami warnings which were later retracted.

A 70-year-old woman in North Sulawesi died after being crushed by building debris, while another individual sustained a broken leg from jumping off a building, according to Indonesia's national news agency Antara.

Though the area experiences frequent seismic activity, residents remarked that this quake was among the strongest felt in the past six years.

The Hawaii-based Pacific Tsunami Warning Center initially issued alerts of potential tsunami waves of less than 0.3m along various coasts but lifted the alert after two hours.

Journalist Isvara Safitri, residing in central Manado, described furniture shaking for several seconds, noting it felt particularly intense.

Another resident, Yayuk Oktiani, recounted how the tremors caused people to flee from a market in Bitung, heading towards schools due to concerns about safety.

In Ternate, Budi Nurgianto noted the panic outside as people evacuated, some still in the midst of their daily routines.

The earthquake's epicenter was positioned between Manado and Ternate, with follow-up aftershocks measuring 5.5 and 5.2 magnitudes.

Damage reports emerged shortly after the tremor, leading to scenes of rescue teams among the debris.

At Siloam Hospital in Manado, patients and staff were quickly moved outside, highlighting the gravity of the situation.

Additional reporting by Heyder Affan in Jakarta.