Similar design elements with the Royal Hawaiian Mint issued 2M-205.
Minter is unknown. This may be a ‘Iolani Palace souvenir piece.
On the reverse: Taro leaves increased to 11, added Kalakaua birth year and year of death, and added Kalakaua’s motto “Ho’oulu Lahui”.
No minter’s hallmark, metal identifier, or metal fineness. However the weight is 1/2 oz and metal looks silver. The 3mm thickness is also a hint that its a silver bullion coin.