You both are close.... 1. the spelling is with the accents on "ho'olohe" and "pa'a", and the correct spelling is "waha". 2. though the meaning is largely the same, the translation is: Beautiful the eyes; listen the ears; silence the mouth.
Again, the general meaning is the same, but the HI'ians place so much more emphasis on the exact meanings of their words than english speakers. HI'ian words are typically defined by the feeling or emotion of the word rather than by a didactic meaning. Think of the meanings of the words beautiful and silence rather than observe and shut.
Yes...the spelling I have says "Nana ka maka, Ho olohe Ka Pepeia, Pa'a Ko Whaha"
Ears in Hawaiian is "pepeiao".
In Hawaiian, you can say "Nānā ka maka; hoʻolohe ka pepeiao; paʻa ka waha" which means "Observe with the eyes; listen with the ears; shut the mouth."