US (Hawaii) - Tokyo - Guangzhou - Hong Kong - Tokyo - US (Hawaii

Yes, your plan is definitely eligible for 144 hour visa free transit. Please, just try to use correct terminology because this is not 144 hour transit visa, but visa free transit, so there is no visa of any kind at all.

Please, keep in mind that you will have to buy a ferry ticket from some of the ports eligible for exit from mainland China to Hong Kong, for example I suggest you to use Nansha port south from Guangzhou that can be reached from Guangzhou by metro or alternatively even from Shenzhen (Shekou port) to Hong Kong through CKS - Chu Kong Passenger Transport Company website even before your departure toward Guangzhou. You will print it out and have that printout with you at hand, ready to be presented to relevant authorities. You should also have in mind that you will really have to take exactly that ferry you have bought your ticket for.