Decided to look at the table again and with the new information about the load index on your tires (110 load index) compared to the OEM 20" tires (112 load index). I'm including a screen shot of the table from Falken. I think I accidently misquoted some of the values.
110 at 33 psi is 2182 lbs. (245/70R18 tires)
112 at 33 psi is 2315 lbs. (265/60R20 tires)
Since you're going from the 110 to a 116, here are the relevant values and psi that make sense based on the 110 at 33 psi:
116 at 27 psi is 2166 lbs (pretty close to the load for the 110 index)
116 at 28 psi is 2216 lbs
116 at 29 psi is 2304 lbs (pretty close to the load for the 112 index)
I double checked the load index on the 20" tires and the load index is 112. I think it's curious that Toyota would specify an inflation pressure to match two different loads. The conclusion remains the same - looks like 27-29 lbs is a good range of psi on your tires.
On my truck, I went from a 112 index on an SL tire to a 123 index on an E-load tire. That actually complicates things because the SL tires include an extra 10% load capacity that is not needed for the E-load tires. And, you use a different table for E-Load tires.
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