As a graduate from the UH Info. & Computer Sciences program who is on the job hunt, I can tell you that Hawaii employers need to offer better compensation. My academic adviser told me to expect half—half!—of what I would make on the mainland if I stay here. I'm finding that to be true. 

The UH system can keep turning out a trained work force, but the brain drain is going to continue as long as local business leaders believe that engineers worth their salt will continue accept pay that far below the market value—not to mention the tendency for local businesses not to give raises or offer career advancement. 

It's great living in Hawaii, especially if it's really your home, but being subjected to the professional culture of exploitation and undercompensation will drive anybody talented to greener pastures, ie. the mainland. I'm certainly considering it.