The problem with the interisland fares are that if there is only one airline, then the rates can be

At the end of the day, Aloha Airlines will shut down its passenger service, laying off 1,900 employees.  Passengers who already have tickets for future flights will have to file claims for refunds at Bankruptcy Court.
Aloha stated that go! Airlines essentially put them out of business cheap airline tickets last minute with their predatory and extremely low pricing.  Others have said that go! intended to force the demise of both Aloha and Hawaiian Airlines and that go! then would monopolize the air and raise their fares.
Personally, I welcomed go!'s arrival in Hawaii.  David and I each paid just $49 to fly to Kauai and $39 to return to Oahu last year.  It's a small plane, and our 21 inch suitcases were deemed too big to carry on so we had to check them in.  But, we love the low fares.  We will continue cheap airline tickets last minute to fly on go! if other airlines do not match their rates.
The problem is that when the prices cheap airline tickets last minute are artificially low, and flexible costs such as oil goes up, this causes airlines to go out of business. I fully anticipated both Aloha and Hawaiian to go in the red with the low fares. I m sad but not surprised to see Aloha close down. Its a sad day for the Ching clan.
The problem with the interisland fares are that if there is only one airline, then the rates can be $150 for one way. This will hurt the outer island Holo-holo get away. Why should I pay $300 to go outerisland for airfare, when I can get $369 airfare, room, and food at Las Vegas? May be the superferry might do better, but I don t want to be stuck on another island because of high surf.