After 2005 model year the only Honda vehicle that Honda would cover under warranty for towing was the CR-V, then in 2007 they added the FIT. As to the Element, according to Honda it is not towable four down. BUT, it shares the drivetrain with the CR-V and they are towable. So, it's up to you since any damage would not be covered under warranty (which is gone by now anyway due to age).
Our '05 Ody was supposed to be towable, got it in writing from Honda that it was, then in early '06 Honda said it wasn't. They paid use $2,200 for the towing gear we bought (RoadMaster BTW) and we got a KK-460 dolly. Now I've gone back to towing four down. Your AWD Element is NOT towable on a dolly unless you remove the driveshaft but is probably towable four down with no problems.