This name is a synonym of Plumeria alba L..
The record derives from WCSP
(data supplied on 2012-03-23)
which reports it as a synonym (record 452108) with original publication details: Ann. Civili Regno Due Sicilie 1: 122 1833.
This name record (from WCSP) was not included in version 1 of The Plant List. It is possible the same name was included from a different data source, to check this you can search for Plumeria hypoleuca in version 1 of The Plant List.