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Schizophyllum commune
Small (⅞ x ½ inch = 22 x 13 mm), white, spongy, somewhat frilly fungus.
Suburban area on tropical upland plateau.
Spotted growing from root of koa (Acacia koa) tree.
Thanks are due Project Noah member gully.moy for the ID.
A third image has been added. Taken using a mirror, it shows both the upper and lower surfaces simultaneously. A day older than the first two, it also reflects some color changes, from an original white to white/light pink.