Osmolarity and tonicity are related but distinct concepts. Thus, the terms ending in -osmotic (isosmotic, hyperosmotic, hyposmotic) are not synonymous with the terms ending in -tonic (isotonic, hypertonic, hypotonic). The terms are related in that they both compare the solute concentrations of two solutions separated by a membrane. The terms are different because osmolarity takes into account the total concentration of penetrating solutes and non-penetrating solutes, whereas tonicity takes into account the total concentration of non-freely penetrating solutes only.
Penetrating solutes can diffuse through the cell membrane, causing momentary changes in cell volume as the solutes "pull" water molecules with them. Non-penetrating solutes cannot cross the cell membrane; therefore, the movement of water across the cell membrane (i.e., osmosis) must occur for the solutions to reach equilibrium.
A solution can be both hyperosmotic and isotonic. For example, the intracellular fluid and extracellular can be hyperosmotic, but isotonic – if the total concentration of solutes in one compartment is different from that of the other, but one of the ions can cross the membrane (in other words, a penetrating solute), drawing water with it, thus causing no net change in solution volume.