Is that the whole ad or was the bottom cut off? There is no conclusion, and it doesn’t complete the law from that time where in order to confer citizenship on your baby if you are an American citizen giving birth abroad, and the other parent is NOT a citizen, you need to have lived in the USA for 5 years after the age of 15 (or is it 16?), and Stanley Ann was only 18 years old at Barry’s birth.
So by the ad’s definition he would not even have been a citizen AT ALL, let alone a natural born one.
If that is so, he would have had to have been naturalized at some point. And if that is so, there would of course be no record of a birth certificate in HI or any other state.
My understanding is that the laws of Hawaii facilitate obtaining a Hawaiian "birth certificate" to people born outside of Hawaii, and even outside of the country. Not to say that this fact means Obama/Soetoro was born outside of Hawaii, just that Hawaii plays loosey-goosey with "birth" records.
My sense is that Obama's citizenship is muddy - that he was "pure Indonesian" (as far as Indonesia was concerned) for some time; and then his "part American" quality, evidenced by some sort of record in Hawaii, was used to avoid the US naturalization process.