The eleventh edition of the Hawaii Bowl, sponsored by Sheraton Hotels and Resorts, began at 3:00 p.m. HST and aired on ESPN.
The pre-game buildup focused primarily on the strong rushing attacks of both teams as well as the overall sound offense of Fresno State.
Contrary to predictions, SMU won the game by a score of 43–10, largely thanks to the play of defensive end Margus Hunt, who forced two fumbles and totaled three sacks (including one safety) as well as two interceptions that were returned for touchdowns.
Consequently, Hunt and Fresno State's Davante Adams, who totaled 13 receptions for 144 yards and a touchdown, were named the game's co-Most Valuable Player (MVP).
[6] Coming into the 2012 season, Bulldogs' coach Tim DeRuyter said that his team would challenge for a Mountain West Conference title.
[13] Carr was named the Mountain West Conference Player of the Year and announced before the game that he would return to Fresno State to play his senior season.
[19] His efforts earned him a spot on Phil Steele's fourth-team All-America squad and accolades as the Mountain West Conference Freshman of the Year.
[20][21] Fresno State's starter at tight end was senior Marcel Jensen, who totaled 20 receptions for 339 yards and 4 touchdowns, all of which were career highs.
[21] The Bulldogs' offensive line was anchored by junior left tackle Austin Wentworth, who achieved first-team all-conference honors.
[29] Fresno State's front seven was led by sophomore Tyeler Davison, who achieved first team all-conference accolades and recorded six tackles for loss during the season.
[32][33] At quarterback, University of Texas transfer[35] Garrett Gilbert started for the Mustangs and struggled;[36][37] he totaled a 53% completion percentage, 15 touchdowns, and 15 interceptions,[38] the latter of which was tied for ninth-most in the NCAA.
[41] The former Johnson, who is one of just two SMU players ever to record three 60-catch seasons,[42] led the Mustangs with 787 receiving yards from 64 receptions which included 5 touchdowns.
[49][50] Prior to the game, there was significant hype surrounding the defensive matchup between Fresno State's Davante Adams and SMU's cornerback junior Kenneth Acker, who intercepted the ball three times during the season.
[49] SMU's defense also had an all-conference honoree in the linebacking corps, senior Ja'Gared Davis,[49] who totaled 77 tackles during the season.
Hunt continued his fantastic first-half performance on Fresno State's next drive, forcing running back Robbie Rouse to fumble.
[56][58] Fresno State was able to run a 7-play, 72-yard drive to begin the fourth quarter that culminated with a 32-yard field goal by Breshears making the score 29–10.
Any chance of a Bulldog comeback was quashed after Carr threw two interceptions returned for touchdowns to Reed and Hayden Greenbauer, the latter of which came with just 1:14 to play.
[56][58] SMU's resounding victory was considered an upset, and during the game, the Mustangs set a single-season record for most interceptions returned for a touchdown (8), surpassing the 2011 Southern Miss Golden Eagles football team.
[59] Margus Hunt was named the game's Most Valuable Player because of his two-forced fumble, three-sack (including one safety) performance.