JetBlue points have been redeemable for flights on Hawaiian Airlines for some time, booking required calling in and the price in JetBlue points was based on the cash price of the ticket (the same system JetBlue uses for it’s own flights). JetBlue has announced a sort of revamp to this partnership including an award chart. The award chart is as follows:
Unfortunately you still must call in to make an award booking on  1-800-JETBLUE (538-2583). It’s difficult to compare this change to the old system as before rates were variable, my guess is that it’s better value during peak periods when cash rates are high and worse value when cash rates are low. The average value of JetBlue points is 1.41¢ so for a west coast to Hawaii economy one way flight to better value under the new system the cash price would need to exceed $310.2 on the few searches I did this didn’t seem to be the case. That being said business class (really first class) fares did seem to be better value under the award chart. That’s good news for some as Hawaiian does run some lie flat routes.