BOSTON -- Earl weakened to a Category 1 hurricane Friday, but was still on track to brush past Nantucket and Cape Cod Friday night.

The National Hurricane Center in Miami said Friday that a hurricane warning for the southeast coast of Massachusetts was reduced in size. But the warning remains in effect for areas including Cape Cod, Nantucket and Martha's Vineyard.

Earl's center was moving away from North Carolina on a north-northeast track and was expected to approach southeastern New England on Friday night.

As of 2 p.m. EDT, Earl's top sustained winds were down to 80 mph from 85 mph three hours earlier. The storm's center was located about 290 miles south-southwest of Nantucket, Mass., and moving north-northeast near 21 mph.

The storm could weaken to a tropical storm by the time it passes about 50 to 75 miles southeast of Nantucket on Friday night, said National Hurricane Center Director Bill Read.

President Barack Obama declared a state of emergency for Massachusetts ahead of Hurricane Earl's arrival off the state's coast.

The action authorizes the Department of Homeland Security and the Federal Emergency Management Agency to coordinate disaster relief efforts should the storm cause serious damage to the state.

It also paves the way for financial aid.

The order covers Barnstable, Bristol, Dukes, Essex, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk and Worcester counties.

Gov. Deval Patrick declared a state of emergency on Thursday, saying it would allow Massachusetts to respond quickly to the storm. On Friday, he reassured residents that the state was ready for whatever Earl may deliver.

"We're prepared. The National Guard has been deployed and the State Police have added troopers as well. Water and other commodities have been pre-positioned on the Cape and the islands if they should be needed," Patrick said.

He said he wants everyone safe before the storm hits.

"The public should continue to take precautions, in particular stay indoors and off the roads during the height of the storm. Exercise extreme caution this afternoon during the times when the winds pick up," Patrick said.

"We need to respect this storm as it comes across New England, the Cape and the islands," said FEMA Deputy Administrator Richard Serino. "We still plan on working to plan for the worst, but hope for the best as we move forward today."

"We are in a high level and high state of readiness and preparedness and ready to respond," said Acting Director of MEMA Kurt Schwartz.

Hurricane Earl is expected to skirt the state on Friday night, with Nantucket and Cape Cod expected to bear the brunt of the storm.

"Although nor'easters get exciting around here, this hurricane is something to take a lot more serious," said Nantucket Police Chief Bill Pittman.

The town is cautioning people to stay in place through the night. A shelter's been set up at the high school for anyone who feels at risk.

"Don't underestimate it. People out there could get hurt," Pittman said.

Emergency officials said the Madaket section of the island could be hardest hit.

"All around here, people are really concerned -- and for good reason," said one Nantucket resident.

"If God wants our dunes, he'll take it and there is nothing we can do about it," said another resident.

Extra National Grid crews were moved to the island help with any power outages.

Nantucket officials said they are most concerned about the rough surf, not the wind.

"Even though we have surfers out here that enjoy the water, we want to make sure we don't distract our resources unnecessarily," said Patricia Roggeveen, of the Nantucket Board of Selectmen.

The Coast Guard closed all the ports in the entire Southeastern New England region, including Narragansett Bay, Mount Hope Bay, Buzzards Bay, Cape Cod Bay, Vineyard Sound and Nantucket Sound, at 2 p.m., Friday.

Earlier in the day, people were still boarding ferries to and from the islands, and some who had Labor Day vacation plans said they were not about to abandon them.

"This could be stupid or it could actually be OK," said Brendan Mulvey as he got ready to board a ferry to Nantucket.

Mulvey, his wife, Colby, and baby, Reece, were among the first people to board to ferry to Nantucket Friday, unwilling to forfeit their long-planned trip.

"I want to go on record as saying this is my husband's idea," said Colby Mulvey.

On Martha's Vineyard, some Edgartown business owners were safeguarding their shops.

"I don't think we're going to get a full hit, but I'm not going to take any chances," said one as he measured his store front window for plywood.

Lifeguards said they were concerned about swimmers who continued to get in the water at South Beach, despite the rough surf.

"The current and the rip tides and the undertow all combined is really making it pretty difficult for people to swim. But, supposedly tomorrow we're getting even bigger waves," said a worried guard.

The Coast Guard has asked beach-goers to stay out of the water as Earl approaches and passes.

"Rogue waves near break walls and jetties are particularly hazardous to beach-goers during hurricane conditions. Sudden large waves can easily sweep storm watchers into the water or drag vessels off moorings or piers," the Coast Guard said.

In addition to heavy surf and strong storm surges, rip currents and coastal flooding are also predicted with Earl.

"Rip currents pose serious hazards to even strong swimmers and may develop in areas where they are not normally seen," the Coast Guard said.

In a parking lot at the Cape Cod Mall, NStar and the nearly 400 out-of-state utility crews it contracted earlier this week were staging for the storm Friday morning. They will fuel up at the lot before heading out.

"Our biggest concern is the wind, and that forecast hasn't changed a lot. We're still talking about hurricane force or tropical force winds," said Warner Schweiger of NStar.

A search and rescue team comprised of New York City police and fire department members is heading to Marlborough, Mass., in advance of Hurricane Earl to help out if needed.

City officials said the 81-member New York Task Force One, which was also deployed to Haiti following their devastating earthquake in January, will depart early Friday with four search dogs.

The FEMA-managed team is trained to respond to catastrophic events involving the collapse of heavy steel and concrete and uses specialized listening devices that can detect a heart beat.

Although forecasters say Earl has weakened to a Category 1 storm, they warn it is still powerful as it nears the Eastern Seaboard.

As of noon Friday, the Bourne and Sagamore bridges were open both headed to and from the Cape without heavy traffic volume, according to state police.