North Korea Aiming For Hawaii?

If North Korea's spouting rumors about aiming a missile towards Hawaii becomes a reality, what's President Obama going to do? Do they have something that can reach Hawaii? Is the United States ready to handle (intercept) it if they do? Is North Korea basically giving us the finger with these rumors (they are just rumors at this point) planned when the U.S.A. is celebrating the 4th of July?

Pressure is being put on China by Obama's administration. China is an ally of North Korea. Hell, with all the crap that we have in the states marked "made in China", couldn't WE put pressure on China ourselves by not buying their lead-filled crap?