Symptoms of overwatering are caused by two factors. First, excess water in the soil eliminates oxygen available to the root system. Without oxygen, roots can't move water to the aboveground parts of the plant. Second, waterlogged roots become soft and invite fungal infection. These fungi damage roots and prevent them from taking up and distributing water. An overwatered Hawaiian schefflera will drop its leaves and any new growth will be black instead of a healthy green.
If your Hawaiian schefflera begins to show symptoms of overwatering, let the soil dry out completely. Don't let it get so dry the soil begins to separate from the container. Once the soil is dry, water thoroughly. Allow water to drain into the drainage dish for about 10 minutes and then empty the dish. Don't water again until the top one-third of the potting soil is dry. You should be able to test loose, well-drained soil with your finger.
If allowing your Hawaiian schefflera to dry out and then implementing a proper watering schedule doesn't work, it could have root rot. Gently lift the plant from its container and inspect the roots. If they are all or mostly brown and mushy, discard the plant as it can't be saved. If only some of the roots have brown, mushy spots, you can trim them. Use clean scissors or pruning shears and cut above the diseased portion. Leave as much of the healthy root as possible.
Once you've trimmed the roots of your plant, you'll need to repot it. If your pot doesn't have drainage holes, purchase one that does. If it does have drainage holes, clean it with a solution of 1 part bleach to 9 parts water and then rinse thoroughly. Fill the pot with new, clean potting soil. Use a mixture that is 3 parts peat to 1 part potting soil for optimal drainage. Water only when the top one-third of the potting soil is dry.