Latini is the accepted form in Hebrew,
mi-artzot amerika halatinit

Hispanic is used to refer to Spanish speaking people from Latin America and their culture(s). If this is referring to a person (e.g., “he is hispanic")then you can say הוא מאמריקה הלטינטת or you can say הוא יליד אמריקה הלטינית or הוא ממוצא אמיקה הלטינטת . If this is an adjective describing a community, a culture, etc. (e.g., “the hispanic community”, “the hispanic culture”, etc.) you can just say של אמריקה הלטינית .