There is no nonstop path spanning the Pacific and the Iberian coastline, which is precisely what makes booking business class from Honolulu to Valencia such an exercise in routing strategy: every itinerary requires at least two connections, and the most reliable answer is a Hawaiian-to-mainland hop on American Airlines followed by a transatlantic leg on either American, British Airways, or Iberia into Madrid or London, with a final short hop down to Valencia. I've routed this trip through Los Angeles and Dallas-Fort Worth on American metal, transferring onto British Airways' Club Suite—those forward-facing, sliding-door seats on the 777 and A350 fleets are the most private hard product currently flying the North Atlantic corridor and worth building a layover around. Iberia's A330 business class, with its lie-flat seats arranged in a staggered configuration, is a perfectly comfortable alternative through Madrid, and often easier to secure with miles during shoulder season.
The long Pacific crossing from HNL is the real bottleneck of this journey, typically five-plus hours to LAX or DFW before you even begin the transatlantic sector, so I always recommend padding the connection in the mainland gateway to at least two hours—American's international terminals at both airports can require a security recheck for international-to-international connections, something first-time bookers underestimate. My insider tip: fly the transpacific leg overnight out of Honolulu so you land on the mainland in the morning with enough buffer to shower in an Admirals Club before the evening transatlantic departure, rather than attempting a same-day double redeye, which is brutal even in a lie-flat seat. Madrid tends to offer more frequent Iberia connections into Valencia than London does via British Airways, so unless you're chasing Avios availability specifically in Club Suite, routing through MAD is usually the smoother finish.
April, May, September, and October consistently offer the best combination of fare value and manageable Iberian heat, avoiding both the winter storm disruptions over the Atlantic and the peak summer crowds in Valencia. Because pricing on this three-airline, multi-hub routing fluctuates constantly with fuel surcharges and seasonal demand, setting up automated fare alerts is the smartest way to catch a genuine business class deal before it disappears.