|From Wiki..will replace with my friend's photos|
We have since researched this. They are pseudosphinx tetrio caterpillars that will turn into large, gray hawk moths. They eat leaves from only one species, the frangipani (full of feathery flowers that the Hawaiians make leis from). Frangipani (plumeria) leaves contain a bitter, toxic substance (related to Oleander trees, remember the Michelle Pfeiffer character poisoning her lover with this stuff in White Oleander?)that give the caterpillars their bad taste. Also they look like coral snakes which make other creatures leave them alone. It is a two way street. The fragrant frangipani lack nectar to attract bees but the odor attracts these moths that help pollinate them. Some how the trees survive the caterpillars' destruction.