I run dumpadm and saw that two things needed to be changed. The savecore directory and the dump device.
root@solaris:/ # dumpadm
Dump content: kernel pages
Dump device: /dev/dsk/c0t0d0s1 (dedicated)
Savecore directory: /var/crash/old_hostname
Savecore enabled: yes
To change the savecore directory, use the flag -s and specify the directory that you wish to use when Solaris need to save the crash dump file
root@solaris:/ # dumpadm -s /var/crash/solaris
Dump content: kernel pages
Dump device: /dev/dsk/c0t0d0s1 (dedicated)
Savecore directory: /var/crash/solaris
Savecore enabled: yes
Now, to change the dump device you pass the flag -d and the device to save the crash dump file
root@solaris:/ # dumpadm -d /dev/md/dsk/d1
Dump content: kernel pages
Dump device: /dev/md/dsk/d1 (swap)
Savecore directory: /var/crash/solaris
Savecore enabled: yes