How eighteen Japanese pre-dreadnoughts change Tsushima and Hawaii

What changes if Japan builds two ships based on each of nine British pre-dreadnought classes?

Japan gains decisive superiority at Tsushima and enough regional weight to challenge American policy in Hawaii, at the cost of severe financial strain.

The proposed program gives Japan roughly two full additional battle squadrons and about sixteen available ships by the Russo-Japanese War. Russia would arrive at Tsushima outnumbered, while Japan would have less reason to commission captured Russian battleships afterward. Such a force would strain Japanese finances, so its existence implies a larger strategic purpose than the historical fleet. The panel suggests that Japan might contest the overthrow of Hawaii's monarchy and outnumber the locally available US fleet even though neither side could easily sustain a major force around the islands.