.hi is a proposed TLD that was not applied for in Round 1 of ICANN's New gTLD Program. In February 2012, the Hawai'i state legislature proposed a bill that would require the Hawai'i Department of Business, Economic Development, and Tourism to apply for .hawaii, .hi, and .aloha. The legislature's motivation for wanting to apply for the TLDs were defensive. The full bill can be read here.
.hi would not have been approved through the New gTLD Program, as all two letter combinations have been reserved by ICANN in case of future ISO-3166/ccTLD use.