“Shibai” is a Japanese word with varied definitions, but the meaning you’re most likely looking for is the one that’s woven its way into the local language via pidgin (Hawaii Creole English). A polite definition of “shibai” would be “lies.” A more nuanced definition would be “B.S.” The word “shibai” turns up most frequently in politics, if that helps any. As to its origins, HawaiiAnswers.com visitor Lusus Naturae notes that “shibai” (芝居) is the Japanese word for “dramatic play.”
Some real-world examples of using “shibai” in local conversation come from the pages of the Honolulu Star-Bulletin:
“Sometime after I came to Hawaii in 1968, I remember reading a speech by a politician who had announced that ‘the days of shibai’ have ended. After learning what shibai meant, I felt comfortable knowing that here in America’s newest state, political BS was not allowed. It was probably the last time I believed a politician’s speech.” —Richard Borreca, August 13, 1997
“Shipboard and casino lobbyists dangle before revenue-hungry legislators claims of enormous economic benefits, bountiful state tax revenues, creation of thousands of jobs and an ‘economic boom for all sectors.’ To be blunt, these industry-generated numbers and studies are pure shibai.” —Ira Rohter, October 27, 2002