A Diamond DA40 Diamond Star crashed off of Lāna‘i this afternoon after 1725HAST. Thankfully, the two aboard the light aircraft survived, and were rescued by a US Coast Guard 14th District HH-65 Dauphin from JRF. According to FlightRadar24.com, the DA-40 (owner not disclosed) flew from HNL to LNY. On the return leg, the DA40 circled offshore (see FlightRadar24 app screenshot), before it attempted to head back to LNY.
Mokulele Airlines' N852MA, flying as FDY858 (LNY-MKK) circled the area, then Kamaka Air's N347KA took up the monitoring until the Coast Guard rescue helicopter and other rescue craft arrived.
Further information in this Kathryn's Report article.
28 Feb 21 UPDATE
The DA40 was registered as N680DS (msn 40.680), owned by George's Aviation, was rented for a training flight.