Many of the verses which mention Jesus as Messiah are addressed to Christians and Jews :
...and the Christians say: Messiah is the son of Allah. That is a
saying from their mouths. They imitate the saying of the disbelievers
of old. Allah's Curse be on them, how they are deluded away from the
Hence it is clear that the significance of Messiah in the Quran is the same Messiah which Bani Israel awaited for. Allah condemns both Jews for completely rejecting the Messiah as an impostor as well as most of the Christians sects who exaggerated by deifying Jesus the Messiah as God. The past scriptures revealed to Bani Israel which Quran also refers, do not mention that the Messiah would be God incarnate but just like the messengers before him who were human beings:
The Messiah, son of Marium is but a messenger; messengers before him
have indeed passed away; and his mother was a truthful woman; they
both used to eat food. See how We make the communications clear to
them, then behold, how they are turned away.(5:75)
Hence to conclude the significance and understanding of Messiah is same as the understanding of the people to which it was addressed to i.e Bani-Israeli understanding. i.e (like many of the messengers which passed away before him) and the Messiah needs to be believed in the same way a nation should believe his Prophet as the guiding way to Allah. More specifically the Messiah was specially sent to the Jews who were the lost sheep(deviated) of Bani Israel.
More ever the Bani Israel scriptures would mean the Old Testament scriptures and not the Rambam era scriptures like Misneh Torah and many of his writings because all those interpretations of Messiah were written after the appearance of the Messiah and are written by people who rejected him, they were the ones who were called as Jews :a subgroup or tribe of the Bani Israel. In spite of this the Rambam does agree that the Messiah will be a Prophet, hence his significance is like the significance of any other Prophets.