Arnold was set to begin his fifth season as head coach of the Rainbow Warriors next month. He will be employed through January 26 in accordance with his contract and then paid a lump sum for the remainder of his contract term, which expires June 30.
The Hawaii men's basketball program has been under NCAA investigation since March, and the university has been in the process of deciding on self-sanctions while waiting for the NCAA to release its findings, according to the Honolulu Star-Advertiser.
Earlier this year, the school self-reported a situation where a men's basketball coach "submitted an altered document that was essential for admissions purposes," reports the Star-Advertiser.
"These painful but critical steps are being taken in an effort to strengthen our athletics program and to do right by our student athletes and students in general," said athletic director Ben Jay. "We appreciate the work of Gib and Brandyn and wish them both the best in the future."
An interim coach has not been named, but the Star-Advertiser reports that associate head coach Benjy Taylor could replace Arnold in the short-term.
The Rainbow Warriors have an exhibition on Nov. 6 and open the 2014-15 season on Nov. 14 against Arkansas-Pine Bluff.
- Molly Geary