For his actions in November 1943, Hayashi was awarded the Army's second-highest decoration, the Distinguished Service Cross (DSC). In the 1990s, there was a review of service records of Asian Americans who received the DSC during World War II. Hayashi's award was upgraded to the Medal of Honor. In a ceremony at the White House on June 21, 2000, he was presented with his medal by President Bill Clinton. Twenty-one other Asian Americans also received the medal during the ceremony, but only seven of them were still alive.