I don't know which one it is, but it's one of Andy Sidaris' movies. You can pretty well interchange most of them: A horde of steroid-ridden males and silicon-ridden females battle it out in Hawaii. The bad guys want to take over the world or start a crime syndicate or simply fulfill their nefarious schemes, and the secret government agency of supermodels with large muscles / breasts (usually depending on their gender) but no acting skills whatsoever gather together a huge number of second-rate gadgets and emerge victorious so they can get back to the hot tub. The first one,
Malibu Express, was almost passable (at least when I saw it back in the 80s). The next,
Hard Ticket to Hawaii, was watchable but still pretty lame. After that, they all run together.
I'm thinking the one you're talking about is either HTtH or its sequel,
Picasso Trigger. Sidaris' movies mostly exist for the T&A. I guess that's okay, but I've just never really cared much for enormous, fake boobs. I think they'd look silly on me