Being so far from population centers can be a downside, especially when the real estate and cost of living is expensive. Things like local talent pool, latency due to geographic location, and business travel being more expensive can be an issue.
With the pandemic causing more companies to allow permanent remote work, I think existing tech facilities would be a cheaper option.
Hawaii is remote. 2000 miles away. You need a full day to travel to the mainland one way. If all you need is good weather and beaches then there is San Diego and Florida which are much easier.
What's it like living there?