The event is open to the winners of the four Grand Slam events and Els qualified with his victory at Muirfield in July.
However, he plans to play the Million Dollar Challenge in South Africa instead.
'I'm in South Africa then,'' Els said of the dates for the Grand Slam.
'They want me to go to Hawaii which is across the world and I'm going to be there at the start of the year again so I'm not going to do two trips there.'' he said.