A dynamic hazard happens when an output should change, once, but instead bounces: 0 → 1 → 0 → 1, or 1 → 0 → 1 → 0. It ends at the right value, but passes through it more than once on the way.
It needs at least three paths of different lengths from the changing input to the output. Each path delivers its version of the change at a different moment, and the output flips each time the balance shifts. That's why dynamic hazards appear in multi-level circuits, where a signal can reach the output through several routes of different depth.
A two-level AND-OR circuit can't have one for a single input change, as long as no product term contains a variable and its complement. In that circuit, the AND outputs that move all move the same way, so the OR output changes only once.
Removing a dynamic hazard usually means first removing the static hazards inside the circuit, or restructuring the logic into a hazard-free two-level form.