"Manawa hou" (pronounced mah-nah-vah how) - literally means "new time" or "fresh start."
"Ho'omaka hou" (pronounced ho-oh-mah-kah how) - means "start again" or "begin anew."
You could also use a more descriptive phrase, like:
"Ua hāʻawi ʻia iaʻu i ka manawa e hoʻololi ai" (pronounced oo-ah hah-vee ee-ah-oo ee kah mah-nah-vah eh ho-oh-loh-lee ah-ee) - meaning "I was given the opportunity to change."
The best way to say "second chance" in Hawaiian would depend on the context and the specific meaning you want to convey.