Short answer: Both.
The $i$ is only a notation and $\sqrt{8i}$ is just a symbol that does not have to be well defined. Similarly you could ask yourself what is the root of $x^2-1$, do you have to take $+1$ or $-1$? There is another nice example in the complex numbers: What is the value of $i^i$? You can show that it must be a real, but there are infinite possible values. See this question here.
Conventionally we define the function $x \mapsto \sqrt{x}$ to return a nonnegative number, if $x$ is real and nonnegative. We cannot do that as simply in the complex numbers, there we have to restrict the domain or co-domain in order to get an unique answer. In your case we can restrict the co-domain to $\{re^{i \phi} | r\geq 0 , -\pi < \phi \leq \pi \}$ in order to get an unique value.