Makes absolutely no sense in any possible context.
If he had a real, 100% provable Hawaii BC he did have some reasons not to release it.
1. He had lots of money and the Republicans didn't. If he gets in a dollar for dollar lawyer fight the Republicans fall behind with every dollar spent.
2. It gives him the chance to get McCain to publicly question it and return with a killer smash of releasing it that day to make McCain look like a fool (with lots of MSM help).
3. If the BC issue did ever start getting traction he could kill it by releasing it, so sitting on it for a while was not a risk for him.
Everything Obama does is magnificent, every bit of it the Truth. Reality might lie, but Obama never does.