You can. The details depends on what you are trying to achieve exactly. I'll suppose you're going for a i386 installation on real hardware.
The easiest way is to just redirect the console to the first serial port by adding "
console=tty00" to the kernel command line (getting this to work on your specific setup may require more fiddling). A quick and dirty way to test it is to add it with the bootloader prompt.
A more permanent solution requires editing
/boot.cfg. If you are cross-compiling, that file is created inside
releasetools/x86_hdimage.sh. You may also want to install a bootloader that uses the serial port, but that's not required.
Another way is to follow
http://wiki.minix3.org/doku.php?id=usersguide:serialconsoles.