Our friends, Michelle and Whelan, invited us to stay for 10 days in Kona with them this winter.  Michelle's boss offered up his house (not sure if it's a timeshare or not) so we'll save a bunch not having to stay in a hotel.  We'll probably do a bunch of snorkeling and surfing (Whelan surfs).
We went to Kauai with my uncle a couple years ago.  It was beautiful. The highlights were snorkeling, hiking, a boat trip up the Na Pali Coast complete with dolphins and snorkeling with sea turtles.  I also tried to surf, without much luck.