My grandparents had a can of Hawaiian air just like this one, probably just as old. When I was young, I didn't really get the joke. Now that I get the joke, I wonder if it truly contains Hawaiian air or was it made on the mainland and exported to Hawai'i by some huckster?

We can't find much history of this concept, but there are other vintage cans of air we've spotted; notably sunny Winnipeg, Manitoba—the exact opposite of Hawai'i. 

A genuine, vintage can of Hawaiian air, from 1981.