Not sure how you arrived at this conclusion. 1 hp is equal to 746 watts. A 120v/20 amp circuit is capable of providing 2400 watts which equals 3.2 hp. This is assuming 100% efficiency and disregarding the 125% continious duty issues.
even if you use a 20 amp breaker on a 2400 watt system, your pushing it.
there needs to be an 80 percent rule applied here
16 is 80% of 20, so if the breaker is rated for 20, then you need a smaller wattage device.
so if the motor is a legit 3hp motor, then the wattage shall be 2238 and then the amperage will be 18.65 continuous amps.
you will need a 30 amp breaker that is in good shape so the start up current does not trip the breaker. remember 30 amp breaker should have number 10 wire on it as long as you are under 50 feet to be safe.
if you set it up, put an amp meter and see what the start up current is, and then see what the continuous current is so you know for a fact what you have.
remember also, 30 amp breaker needs a 30a recepticle.dont start half assing your electrical in home, nec code is part of the nfpa(national fire protection association) and its there to keep you and your family alive.