In a way. The unfortunate thing is that a number of items need to be imported to Alola because unlike other regions, Alola has no industrial centers that can produce high-powered items themselves. Moreover, some medicine’s potency—especially the most ones such as hyper potions—break down over time and through heat exposure. Thus, while technically, the hyper potion uses the same formula as it always has, its effectiveness has degraded en route to Alola.
Incidentally, you may have noticed the same thing if you keep a hyper potion in your bag for a couple of years. Always check the expiration date of your potions before use; while potions and super potions can be used for a considerable amount of time, hyper potions generally only have a shelf life of a year at best. Less than that if exposed to direct sunlight or heat for an extended period of time (as they tend to be when sold in Alola), so also always be sure to keep your hyper potions at the bottom of your bag and out of the sun whenever possible.