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1.
Hau'oli, Means to be happy, often misspelled hauole.

Haole means white person as described above.
Hauole Makahiki Hou means Happy New Year
by Bruce333 June 26, 2010
 
2.
Hawaiian slang for white person or mainlander. It is a racist term and is used very much in the same way that nigger is towards people of a black skin tone.
The hawaiians were all making fun of the hauole tourist.
by Narcissisticlozer February 03, 2009