Having said that - a plane isn't going to just drop like a rock from the sky if it runs out of fuel. Pilots are trained to safely land a plane without a working engine. In fact, in order to get your private pilot's license, you need to demonstrate you can do this.
The pilot was flying to Hawaii from the San Francisco, CA area. That's over 2,000 miles. This plane only has a range of about 1,200 miles. The SFGate is reporting that the plane was outfitted with an auxiliary fuel tank (which would have allowed for a longer trip). The theory is that the auxiliary tank somehow failed.
I'm glad the pilot is okay. He apparently got picked up by a cruise ship that was in the area. Which is good, because now I can watch the video guilt free. And so can you. Enjoy!