I think the state is cracking down on vacation homes that are rented out and the airline tickets prices are retarded. If you are looking for a vacation home there, expect to spend 400-700k. Condo's can fluctuate between 100k-300k. You can find some nice condo units outside China town and near Ala Moana in the older buildings that have great views, pools, tennis courts, etc.
As much as I love Hawaii, I don't blame you for heading down to the Florida/Virginia beach area. You save a ton of money and with the saving you get to do what ever you can think of.
I'm still up in the air as to what will happen with the housing market in Hawaii. Oahu pulled MI homes and built thousands of homes. Either the market will drop due to a glut of unsold homes or the developers will run out of room to build and the prices will sky rocket.