Alternatively you can keep latest jdk and update swt used by monitor:
get updated swt: https://www.eclipse.org/downloads/download.php?file=/eclipse/downloads/drops4/R-4.7.1a-201710090410/swt-4.7.1a-cocoa-macosx-x86_64.zip
unzip somewhere
copy extracted
swt.jar
over~/Library/Android/sdk/tools/lib/monitor-x86_64/plugin/org.eclipse.swt.cocoa.macosx.x86_64_3.100.1.v4236b.jar