Exchange 2013 hybrid public folder move

We currently run Exchange 2013 hybrid with Office 365.  User mailboxes are in 365, public folders are still on premise.  Our public folders are fairly simple and small.  (About 500 MB, just calendars and contact folders, nothing mail enabled.)  My plan was to just to export the content to PST and import into Exchange online and re-create any permissions needed.

Provided I have the data exported and ready in a PST, is the next step just to create a public folder mailbox in Exchange online admin console, (Similar to what we have existing in 2013) as well as setup the top level folders like we currently have?  Since the -Publicfoldersenabled setting in the Exchange online org points to on premise, do I need to switch that from remote to local before the new public folder hierarchy in 365 shows up in Outlook (Versus the on premise ones) and I can import/copy the data back in?  I'm a little unclear on that.  Am I missing anything or other steps in this process?

Thanks for any help.