Bonfire

How to Use
The Bonfire cannot be used directly. It serves as a beacon to determine the general area along the coastline where a migrant colonist or the Trader will land when they arrive. Selecting the Bonfire object will show a tooltip indicating whether or not your current colonists' expectations are satisfied and, if so, how long you can expect to wait for a new migrant colonist to arrive.

Tips
It seems that the timer shown in the Bonfire tooltip functions independently of whether or not your colonists' expectations are satisfied. For example, if you meet all expectations, but a condition arises where you no longer meet an expectation, the timer does not restart. Instead, you are simply no longer eligible to attract a migrant until you satisfy all expectations again. The timer only "restarts" after it internally cycles to 00:00.