Im not sure how to set my GMT Offset. Right now my GMT time for Hawaii
is 8:50 and my market watch time is about 20:26. What would be my GMT
Offset? Can someone explain how to calculate it? thank you

It is not based on your time zone at all. It is based on the Market watch time (upper left corner of MT) It is only based GMT LONDON then it is off-set plus or minus (sometimes 0) according to the time zone your broker is in. So, it has nothing to do with our GMT time. Make sense?

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"Markets are like bacteria: always, mutating and looking to kill you" --VICTOR SPERANDEO

I think I understand but tell me what is my GMT Offset if the Greenwich time
is 16:47 and my market watch time is 18:48? Is my GMT Offset = 2?

That is correct