It means that the State of Hawaii has an original birth document of some sort for Obama in its archives. The information on the online COLB was taken from that source document.
The question remains: What is the nature of that original document? Is it a long-form birth certificate? It would be, if Obama was born in a hospital in Hawaii because the attending physician would have been required by law to file one.
If there is one, why hasn't it been released?
On the other hand, there are other types of “original” birth certificates that the State of Hawaii issued in 1961. And some of those would not necessarily have required that Obama have been born in Hawaii. They are merely attestation of his birth by a parent or near relative, his grandparents for example.
Now, if the “original” were of this type, one can see the reason for not releasing it.
And as a matter of fact, the State of Hawaii has refused to comment on exactly what kind of “original” document they have consulted to issue the COLB, which is only an electronic form verifying that the state has some form of original birth document in its possession.
That is simpliy not true.