I don't know for sure about knocking down silhouettes, but both my sons have .17s and they both say they're sweet rifles. My younger one has a Savage (see attachment) and is amazed with its accuracy. He uses it to thin out a farmer's prairie dogs in a place close to suburban areas and popped one at a
laser-measured 160 yards, so it's not one of those situations where the shooter paces it off with itty-bitty-teeny-tiny baby steps and claims 160 of them as "yards."

I don't know what kind of game or varmints might be similar to prairie-dog-sized critters in HI, though. The heavier bullet of the WMR might be a plus for smacking silhouettes and for wind-bucking, but on the other hand, the accuracy of the HMR might make up for this deficiency, especially if you're any good at wind-doping.
The only problem I see with the .17 is the same problem I see with any relatively new cartridge. Too many of them fall by the wayside when they don't show expected sales. I still remember S&W's .22 Jet revolver, which is now sort of a paperweight unless you kept the chamber inserts for .22LR.
However, as far as I can tell, the 17s are getting more and more popular as urban areas grow toward what used to be good shooting areas. And that little tiny 20gr bullet doesn't ricochet much. Even if it does, it won't carry very far.
I think your choice is between a dedicated range rifle at nice standard known distances to knock down silhouettes, or if you intend to use it as a field rifle as well. If the latter, than the .17 might be the better choice.
Terry, 230RN