Plate tectonics. Some plates are going past each other side to side, others are moving one over, one under. San Andreas is a side to side type. This one and the Indonesian one are one over, one under. Two plates pushing towards each other. The country of India and the Himalayas is one view of two plates colliding.
As one slides under, the other over it builds immense tension. When that tension is released, the 'over top' land buckles and moves forward and upward. With the Indonesian quake the land moved upwards of 30 feet. So what happened is the land suddenly moved upwards 30 feet, moved the water up 30 feet, which caused the massive wave 30 +/- foot waves.
I have heard early reports that this quake was a similar one, and as big as it was pretty likely. Underwater landslides cause tsunamis but generally not as large, over the entire Pacific. It will likely be a couple more weeks before they know the exact nature of this quake and resulting tsunami.
Boo