Images above courtesy of Hawaiian Airlines, Virgin Australia, Jet Blue, Japan Airlines, Korean Air, & Virgin Atlantic.
If you had options for 90k Bilt Rewards for round trip business class from the US to Japan on Japan Airlines or 100k Bilt Rewards for Korean Air Business class from the US to Korea, with economy options at half those prices, would you take them? Tomorrow, 2/1, only, a transfer to make that & some other options a reality is possible when Bilt is offering a 1:2 transfer promo to Hawaiian Airlines, far surpassing any previous transfer promo to Hawaiian Airlines from any transfer partner in recent history.
Normally I wouldn't give much consideration to Hawaiian Miles due to the relatively poor typical pricing of transfer options and other acquisition methods even when you factor into the equation small transfer promos of 25%. I've never transferred to them. Whenever you're looking at a higher-than-ever transfer promo opportunity or lower-than-ever points purchasing opportunity, it's best to check the #s to see if it's viable even if you don't have any points in the program like me as long as you have the method to acquire the points.
This 1:2 transfer promo is much better than any previous transfer promo to Hawaiian from any points currency that I could find. Here's where I like to go to check, with all of the below being 1:1.25 transfer ratios:
Above image courtesy Frequent Miler
Unless you're island hopping in Hawaii, I'd generally recommend that you use Hawaiian miles on partners, not on Hawaiian itself, to get the best value per point.
Pricing below is per Bilt Reward in the titles when assuming a 1:2 ratio:
Japan Airlines optimal pricing from North America (especially E Coast), i.e. Japan to North America in economy for 45k round trip, 60k in Premium economy RT, & 90k in business class RT
Why not to get bent out of shape if you don't have the option to transfer to Hawaiian from Bilt for the Japan Air Award Pricing
Jet Blue - 1.33- 1.98 cents per point
Korean Air optimal round trip pricing from Korea to the US for 50k in coach or 100k in business class, & why not to get bent out of shape due to alternatives via transfers from Amex to ANA miles if you can't make the transfer from Bilt to Hawaiian
Virgin Atlantic round trip to the UK decent but not too noteworthy pricing on the surface without more digging into upper class' taxes/fees unless flying from the West Coast in peak season
Virgin Australia is not currently flying to the US, but helpful if you're around Australia
I generally wouldn't recommend using Hawaiian Airlines miles to actually fly to Hawaii from the mainland US as long as you can get there instead with either:
1. Flights on United from most US United destinations (i.e. East Coast) for 7500 points each way in economy or 12500 in business class using Turkish Air Miles & Smiles (a transfer partner of Bilt, Capital One, & Citi) including direct or indirect flights on United.
2. West Coast direct flights using 13000 British Airways to fly American (in 1 way economy) after a 40% transfer promo to British Air (taking it down to 9.3k 1 way) or another form of Avios and then convert to British Air Avios at a 1:1 ratio.