Assuming the first flight is on Hawaiian, then any protections AA would give you across separate tickets go out the window as Hawaiian is neither AA nor oneworld (not even considering it's below MCT).
If you were to miss the flight, best case scenario is you get a friendly agent that works to rebook you that evening via LAX or PHX, but who knows if you would get F on those flights or not, etc.
Worst case scenario is they say sorry and force you to buy a new walk-up ticket.
I generally have a high risk tolerance for this type of thing but even I would never book a 40 min connection here given the options. Take the early flight.