Are we well located?
I believe so. Unless you want to spend an extended amount of time at volcano (to me a day trip there is enough) or the same for Hilo (again, to me you can see what you want and will want to come back with a full day there) -- we are perfect. Hilo people come over here to get away — if that is any indication. A few people who are considering moving will migrate back and forth to get a feel.
We used to fly back and forth from the Mainland to Hawaii, and we were more in the “tourist” mood back then. We got to see everything all over the Island. Usually we would leave if the location were extreme South or North early in the morning and then wind ourselves back to home. They would be long trips only because we do not have high speed interstates here. What for us on the mainland would be a 20 or 30 minute interstate drive can be 2 hours here. So just allow travel time. And allow time to be spontaneous — there are so many things to see along the way.
A nice trip to Hilo can take a full day — lots of waterfalls, they have a zoo, etc.
Maybe allow some days that are “go back” or “make it up” days.
Allow a day for only the beach — you don’t appreciate it until you spend the whole day there. Maybe a beach with barbecue — take hot dogs, steaks, lots of water and whatever you like to drink and make it a day.
Kailua-Kona is wonderful just to walk around and shop. We have a farmers market (Hilo does as well), we have many nice little shops. Totally different from the high end and pricey hotel complexes. Some people go to those complexes and never leave — artificial Hawaii in my opinion, I guess better than not ever having any Hawaii but there is much more that is just there for everyone no matter if they have $50 or $5000 in their wallet.