Are there other territories/states/provinces of other countries who have their own independent Olympics team?

It’s a rather extensive list:

American Samoa, US Virgin Islands, and Guam.

Bermuda, British Virgin Islands, and Cayman Islands.

Tuvalu, Aruba, Cook Islands, and Hong Kong.

The IOC has a longstanding policy of allowing territories to have their own Olympic teams. And they enforced this policy when the Netherlands Antilles assented into the Netherlands in 2010. As a result they lost their Olympic team since they were now politically incorporated into the Netherlands.

Why does the Olympics do this?

The Olympics saw massive expansion in the 1940s and 1950s. This was at the height of decolonization. But you also had an issue in regards to Germany. Specifically how many German nations were there. For starters you had East and West Germany. But also situations such as (Saarland.)[https://en.wikipedia.org/wiki/Saar_at_the_1952_Summer_Olympics]

In regards to decolonization, this was an era where people were starting to see the various parts of the colonial empires on an individual level. Even for a territory like Puerto Rico, it was being seen increasingly as having its own identity even as it was remaining loyal to the US. The IOC had no way of knowing which independence movement was never going to materialize (Puerto Rico) and which wouldn’t (Philippines). And this issue played out in regards to every single African country and a number of Asian countries.

On top of that there are also political considerations. This arrangement allows the IOC to accept Taiwan (Chinese Taipei) as an Olympic nation, without pissing off China because it can be argued that Taiwan is identical in status to Hong Kong under the current arrangement. It allows the IOC to accept Kosovo as an Olympic nation without endorsing the question of Kosovo statehood. The line “Kosovo is a country because they have their own Olympic team”doesn’t work as Puerto Rico has an Olympic team and is not a country.