Mine was doing the same thing, but I also noticed that the hazards would only flash on the right side. After hours of electical checks and testing, I found the bulb sockets in the front signal lights were rusted so bad that I couldn't get the bulbs out. Had to replace the sockets. Also the hazard relay, inside the fairing on the left side, was bad. The relay I replaced was part# 4XY-81950-00-00.
If you look at an electrical diagram of our bike, you'll see that the signal system is not a simple one. There a 2 flasher relays and 1 hazard relay that are all connected. Plus the power is shared with horns.
Hope this can help and good luck.