Update: worst is over for Kauai. The Maui tide gauge pegged out at about 7 feet so Maui's port may have suffered significant damage. Several of the gauges cited below may have problems because they "maxed out". It appears that Kahului, Maui suffered the worst damage.
According to the representative of the Tsunami warning center in Eva beach (near Honolulu) the first 2 waves have reached Kauai and the first wave has reached the other major islands with heights of about 7 feet or less. (Hawaiinewsnow.com) Buoys in the north Pacific indicated the largest waves would come early in the series of tsunami waves so the experts are thinking that this won't be a major damaging tsunami in Hawaii. They expect modest damage at this point. However, he pointed out that a tsunami can last a whole day and Hawaii can trap tsunami energy, so they will continue with all warnings.
This is good news for the west coast of north America and locations around the Pacific rim. Hawaii tends to get hit hard by tsunamis.
Here are tide gauge recordings that show the tsunami.
Honolulu harbor
Updated by FishOutofWater at Fri Mar 11, 2011, 10:16:20 AM
The second wave has passed Honolulu harbor now. It wasn't bigger than the first. That's a hopeful sign that the later waves won't be bigger.
Updated by FishOutofWater at Fri Mar 11, 2011, 10:41:16 AM
This figure taken from the deep water DART buoy shows the tsunami in deep water south of Honolulu. As the tsunami approaches shallow water, the wave speed drops and the wave height grows as the bottom of the wave drags on the sea floor.
Predicting tsunami height based on DART data requires a local model of wave height amplification based on experience with previous tsunamis.