if you go and read about the spiritual/sacred meanings behind words, you'll see "mahalo" doesn't only mean "thank you." i asked some hawaiians about it when i was last there and they said it can be used like "peace (literally and saying like 'yo peace out,' etc.)" or "namaste"
also can be interchanged with english words like: admiration, praise, esteem, regards, respects; to admire, praise, appreciate.