Well.. The Honua Kai project in Maui on the famed Ka'anapali beach seems to be rolling right along selling another $100 million in units this pass week. Looks like they should be selling out the Konea tower shortly. I think the prospects for this Hawaiian property are much better than those of it's Las Vegas counterparts, in that there isn't nearly the competition in Hawaii, and there is only so much prime beach front property available. (whereas there is a lot of desert)
You can read more about the Honua Kai's success here.
http://www.emediawire.com/releases/2007/5/emw527759.htm
CondoHotel Forums
http://www.condohotelforums.com/article.php/2007052210244813