It certainly can be done, but QF premium awards have a reputation of being difficult to find. You may want to do a few searches to get an idea of how available they are, before you commit to transfer.

Remember that BA miles have different prices for single partner vs. 2+ partners. If you add a stopover at HNL, you will need to fly AA LAX-HNL, which will automatically trigger the distance-based Oneworld carrier award chart. For example, flying LAX-HNL-SYD-LAX would be 200K BA miles (however, the good thing is that you have 4000+ miles of headroom, which you can freely add on additional legs on either Australian or US side, such as SYD-LAX-TUS or HNL-SYD-ADL and still keep everything under 200K BA miles).

Make sure you study the different BA award charts (note that it is changing in November), the fact that you cannot make any changes within 24 hours of your first flight, and how you may need to call to put yourself in AA domestic first class on a business award redemption.