Yeah, Menlo College does provide scholarships based on merit. Here are some of them:

Menlo Academic Scholarships
Total Worth: up to $29,000 per year
Eligibility: up to $29,000 per year
Requirement for maintenance: a Menlo cumulative GPA of 2.00
Separate application needed: NoNo

Hawaii Opportunity Scholarship
Total Worth: up to $36,000 per year
Eligibility: up to $36,000 per year
Minimum Criteria: 3.0 GPA or higher
Requirement for maintenance: a Menlo cumulative GPA of 2.00

Menlo College provides aids at an average of 28874 per student meeting 66% of students need. 99% of students with need receive financial aid at an average of 12737 need-based grant. They also provide other scholarships including Legacy Scholarship and Early Oak Award for Domestic Students.