Just to add to what Koolau said, leasehold is generally something to avoid, or at least research carefully. If you can find a property with, say, 25 years, left on the lease, it will be cheaper because the price essentially reflects zero value of the land at the end because of the possibility of nonrenewal.
In Hawaii, the largest land owner is Kamehameha Schools/Bishop Estate (KSBE). Bernice Bishop was the heir to the Kingdom of Hawaii and set up a trust with her lands to benefit the children of Hawaii in perpetuity and KSBE is that entity. They primarily make their money by managing the lands and spend it running a private school system. It is rare (but not unheard of) that they don't renew a lease or take an abusive stance when renewing. This is a unique characteristic of Hawaii leasehold properties that I think sets it apart from what you will hear about the rest of the US.
I own fee-simple land in Hawaii but I would not be afraid of a leasehold property. I would look closely at the details however. You will find that many of the condos and commercial properties (resorts etc.) along the coast are leasehold. Years ago I looked into buying a nice condo on leasehold land with 23 years left on the lease. The banks were not at all afraid to lend for 30 years on that deal.
One piece of advice I would give you though is to work with a knowledgeable and experienced buyer's agent. We have other weirdnesses with property in Hawaii. We have Kuleana lands for example where families have been living for generations without title and have rights. We also have lava zones (on the Big Island), and land boundaries are sometimes fuzzy and not strictly enforced. Most property legal descriptions locate a property based on the location where people used to pile pigs to tribute the local chief (ahupua'a). Yes we have GPS and all that but the coordinates are not in the legal description. It is also very common for properties to be cheap because they are traps. Maybe a prior owner graded the property wrong such that it cause flooding of the neighbor. Local agents will know this but there may be no legal actions filed because the neighbor being flooded wants the property sold so they can sue the new owner to make fixes.
Hawaii is a great place to live and not nearly as expensive as advertised if you live more like locals than tourists. But it has its pitfalls when it comes to property ownership!