Hawaii Business magazine has published a short-and-readable article on "how land in the most isolated island chain in the world came to be worth billions" that is well worth reading:
Hawaii is the most geographically isolated island chain in the world, but that has not prevented land here from reaching extraordinary prices. This year, in addition to our fifth annual list of the Hawaii’s wealthiest landowners, Hawaii Business lists the Top 5 most expensive properties on each major island. Here are the stories of some of the visionaries and power brokers behind those properties, who have helped make land in Hawaii so valuable.