Haw. Rev. Stat. § 554G-11: Multiple transfers.

If more than one permitted transfer is made by means of the same trust instrument:

(1) The making of a subsequent permitted transfer shall be disregarded in determining whether a creditor's claim with respect to a prior permitted transfer is extinguished as provided in section 554G-8; and

(2) Any distribution to a beneficiary shall be deemed to have been made from the latest permitted transfer.