The surface evolution model based on a geometric partial differential equation is used to numerically study the kinetics of dewetting and the dynamic morphologies for the localized pinhole defect in the surface of an ultrathin solid film with the strongly anisotropic surface energy. Depending on the parameters such as the initial depth and width of the pinhole, the strength of the attractive substrate potential and the strength of the surface-energy anisotropy, the pinhole may either extend to the substrate and thus rupture the film, or evolve to the quasiequilibrium shape while the rest of the film surface undergoes a phase separation into a hill-and-valley structure followed by coarsening. Emergence of the quasiequilibrium shape and the termination of a dewetting are associated with the faceting of the pinhole tip. Overhanging ͑nongraph͒ morphologies are possible for deep, narrow ͑slitlike͒ pinholes.