If the US isn't in the Phillipines, it removes one of the greatest points of contentions/risk for either side. This would presumably mean that the US either didn't win PI in 1898 or that they quickly gave it true independence.
The US would still be somewhat involved in China and would protest Japanese actions there.
However, having far less of a 'dog in the fight' (and far less ability to project power in the area), the US might not impose an embargo and the two can remain in tense peace.
Whether or not there's a US embargo, Japan will try for the East Indies. If the US isn't in PI, then the biggest potential thorn in Japan's side is eliminate and they'll likely proceed without bothering with the US.
If the US isn't attacked in PI and HI, they're not likely to declare war for a while over Japan attacking UK assets and the Dutch. They'll eventually get drawn into the war, but it'll be at least a few months later and with an even stronger "Germany First" strategy. At least initially, they'll mainly have a holding action and build-up in the Pacific.
Japan attacked Pearl Harbor because they wanted the Dutch East Indies and the Philippines were in the way. Thus, attacking Hawaii would weaken the fleet meant to protect it. Suppose butterflies make it so the USA doesn't control the Philippines after the Spanish-American War due to a stronger anti-imperialist lobby.
Does the USA still get attacked by Japan due to the oil embargo?