Your bags may be tagged through to your final destination at your originating airport. But, you have to get your bags at ORD to clear Customs. After you clear, you'll see baggage collection counters for the different airlines. You really don't do the whole re-check thing, just give your bags to the agents. It's the one thing that is really different from Europe, where you clear Immigration at your first airport, but you don't clear Customs until your final destination if you have a connection.
One thing: at HNL, you have to send your bags through the U.S. Agricultural check before you take them to the check-in counter. It's usually no more than putting them though a different scanner. A USDA check sticker will be put on them. I've never had this take more than a few minutes. Be sure you are aware of what you can and cannot bring back to mainland US from Hawaii - you don't want to buy something, only to have it taken away at the airport.