It's not so much about the Hawaii games, but about getting the P5 teams already in the PAC an extra game - doesn't really even matter who it's against, but Hawaii does it without reducing any other inventory. Also worth noting that it means the conference is going to get 8 week 0 games and control that entire week. That's worth $8M easy.
Similar story on recruiting - it doesn't mean they'll absolutely dominate recruiting Hawaii and certainly not the other Polynesian islands or Polynesian kids living on the mainland. But it does give them a bonus there. If you're recruiting a kid out of Hawaii or with family in Hawaii and you can let the kid know he'll be able to play in front of family and friends, then yeah it helps. It's clearly not the only factor...but it certainly doesn't hurt. There's clearly some benefit.