Japanese r = l
Spelling it 'holo' is more correct for western pronounciation. But if you can pronounce the japanese r well enough (it is like a light touch of the tounge to the roof of the mouth, kind of like how the 't' in 'potter' is (but with an r of course)) and it sounds l-ish.
There is no 'l' native to Japanese, it just sounds that way some times.