The storm had weakened from a Category Four to a Category Three, but still had maximum sustained winds of more than 205km/h (125mph).
Teams are out clearing roads and repairing buildings and power lines.
Last week Hurricane Matthew devastated parts of Haiti, killing hundreds of people.
"At this point, there is no indication of any loss of life or serious injuries," Premier Michael Dunkley told Reuters news agency.
"Nicole is now racing away,'' said James Dodgson, deputy director at the Bermuda Weather Service.
"There has been a bit of sunshine trying to poke through."
Although the impact of the storm was less than feared, there has been some damage to the island's infrastructure, daily newspaper The Royal Gazette reported.
Some walls and roads had collapsed, it said, and some boats had been smashed.
Nick West, who lives in the town of St George, said a large section of his roof had been ripped off just before the eye of the storm passed over. He said that his garden was flooded.
"Just as long as we are all safe, that is all I really care about," he added.
Schools and government offices were closed on Thursday and airlines cancelled flights as the storm approached.
Hurricane Nicole has roared across Bermuda, tearing roofs from buildings and uprooting trees, before moving out into the Atlantic Ocean.