With CBS looking to the off-network syndication market, renewing Hawaii Five-0 for a fourth season would be a no brainer. Even if the show ends up being dumped onto Friday night.
IIRC, off-network syndication requires something like a minimum of 88-100 episodes to be viable for daily reruns. At the moment, there's already 66 or so episodes. Just need another 22 to reach 88.