I see wooly aphids, i have those too. If the infestation is not too bad, a strong water spray should help. Check for ants because there is a vicous cycle there. Be careful, these aphids seem to attract wasps. Good Luck!

Or is it mealybugs?

Where do you live? Is the plant indoors or out? In a pot or the ground?

Looks like pink hibiscus mealybug, Maconellicoccus hirsutus.

Here's info from Florida
http://creatures.ifas.ufl.edu/orn/mealybug/mealybug.htm

Here is a link that might be useful: pink hibiscus mealybug

Thanks...I think it is mealy bugs after further inspection. Does anyone know what to treat this with? This is a container plant in Houston and is outside.

Pink Hibiscus Mealybug is a specific disease and no way has it made it to OR yet. Whether it's aphids or mealybugs, removed the major affected leaves and then give the whole plant a shower of water. You can even add a little dishwashing soap to the water and that should control it pretty well.

J

I have used a 60% alcohol and 40% water combo on the mealybugs and aphids. Works wonders, and the alcohol evaporates quickly and no harm done to the plant.