The following core doesn't throw an Error as expected:

import java.util.concurrent.Semaphore;

public class PermitOverflow {

    public static void main(String[] args) throws Throwable {
        for (boolean fair : new boolean[] { true, false }) {
            Semaphore sem = new Semaphore(Integer.MAX_VALUE - 1, fair);
            if (sem.availablePermits() != Integer.MAX_VALUE - 1)
                throw new RuntimeException();
            try {
                sem.release(2);
            } catch (Error expected) {
            }
...
}