A video of a pilot ejecting from the British-made Hawker Hunter aircraft moments before the crash was published by Khon2 website.
The incident occurred just before 2.30 p.m. (12.30 a.m. GMT) three miles south of the Reef Runway at Honolulu Airport and five miles south of Sand Island, local media reported.
He was picked up by a private sailboat and was treated by Emergency Medical Services and then taken to the hospital in serious condition,
The US Navy reported that the Sentry Aloha exercises have been temporarily suspended in the wake of the accident. An investigation is reportedly underway.
