The Hane and the 11' Iwana are very different rods. The Hane is much stiffer. Like all tenkara rods, the tip sections are soft, but as the 7:3 rating would suggest, the midsection of the rod stiffens quickly. With a light line, only the tip sections will "load" so you will need a fairly quick, sharp casting stroke. A heavier line will feel better with the rod. Because of the ability to cast a heavier line than the Iwana, the Hane would be a better choice if you will be fishing big, bushy flies or heavy flies, or fishing in the wind. It will certainly be a better choice if you are regularly catching 16-18" fish.
The Hane and the 11' Iwana are both short and light in weight, but the similarity stops there. They were designed for different fishing situations, and you could conceivably really want both.
I have a review of the Hane and Iwana on TenkaraBum.com.