No its not. Its like building a telescope in Jerusalem or Rome. No one is building on any sacred structure. Nice try.
The mountain is sacred to the Hawaiian people. Yes, there are telescopes at Mauna Kea, most built before the Hawaiian cultural renaissance, which was an increasing awareness of Hawaiian cultural identity that occurred in the 70s-80s. Prior to that, being Hawaiian was considered shameful. Now, the Hawaiians are flexing their muscles politically. The telescope IS being built on an area in which they believe their Gods emerged. It is the same as the Dome of the Rock, Wailing Wall and the Vatican to the Hawaiian people. I am part Hawaiian.