I have been watching the airfares between NC and Kauai for almost 10 months. In general, the fares have been going up. However, once in awhile I do see a cheaper fare. For about a week, I noticed that Continental lowered their fare by over $100. Keep watching and when you see a reasonable fare, grab it.
Airlines are losing big bucks because of high fuel prices. Significantly lower prices are probably not in the picture.
I really think everybody needs to put these prices in perspective. From NC to Kauai is about 10,000 statute miles roundtrip. The airfare is roughly $1,000 roundtrip or about 10 cents/mile. This is roughly the breakeven point for the airlines IF THEY FILL EVERY SEAT! To put this in perspective, a full fare ticket from NC to NYC is almost $2/mile, and even the discount tickets to NYC run about 25 cents/mile.
Have fun and good luck.