This is a popular farmer's market with a variety of locally and often organic grown fruits and vegetables, tropical flowers, cheeses, juices and sometimes local crafts. You can also drink ice cold coconut milk fresh from the nut itself. It's nice to buy flowers here to brighten up your room back at the house or hotel room. They are strict about no letting customers come in to browse before the 2pm start and they make everyone wait behind a rope. Get there early and talk to the other tourists and locals who will also be there to queue up. Then get ready for the brisk dash into the market grounds when they drop the rope. It's all part of the fun.
The tropical setting is also a large part of the attraction of this market. It may not be as large or have the variety of offerings as the market at Kapiolani Community College in Honolulu, but at least it's not in an asphalt parking lot!
What to buy: Produce, flowers
What to pay: Cheap!
Yellowfish has a nice selection of Hawaiiana both old and new including house furnishings, artwork, jewelery, books, and kitsch. My favorite items that they always seem to have include original menus with artwork by Eugene Savage and John Kelly. And they always have a nice selection of vinatage aloha shirts, some from the 1940s. Warning: They are not cheap and I have yet to plunk down the big dough for one of these beauties. The store is a great place to pick up that Hawaiian something that will remind you of your trip after you return home.
What to buy: Hawaiiana including shirts, artwork, furnishings
What to pay: Varies
The Hanalei Center is a collection of buildings, the centerpiece of which is the old Hanalei School. Shops include Hanalei Surf Shop where you can rent snorkel gear, boogie boards, surf boards, and get all the cool Kauai surf wear. There are also various clothes shops, a sandwich place (Hanalei Gourmet), coffee joint (Java Kai), a place to get smoothies and shave ice (Shave Ice Paradise), Bubba's Burgers, a great antiques/home furnishings store (Yellowfish Trading Company), and a nice clothes/home furnishings store (Sand People). When you visit Hanalei you'll definitely end up meandering through the stores and eateries here. There isn't a whole lot else to do in town anyway!
What to buy: Clothes, Hawaii/ocean-themed furnishings, antiques, food
The Ching Young Village on the Kuhio Highway across from the Hanalei Center is as close to a mall as you're gonna get in Hanalei. The "anchor" store is the Big Save Market, a local supermarket chain. Go here to stock your rental home or get food for the trek along the Na Pali Coast if you haven't already done so back at the Foodland in Princeville. The Ching Young village also has a photo store, music store, hair salon, tatoo parlor, local arts and crafts, a surf shop, island clothes, and a variety of eateries and business offices. Go to Polynesia Cafe for local seafood and Hawaiian plate lunch as well as baked goods and coffee. Also try Panda's Kitchen for Chinese, Sushi and Blues for sushi and live entertainment, or get a slice at Pizza Hanalei. There's also a good fresh juice/smoothie cart on the west end of the parking lot outside of the Big Save.
What to buy: Everything!
What to pay: Varies
Hawaii has many, many shops selling Hawaiian wares of varied quality and price, and after a few days you begin seeing the same or similar stuff over and over. This shop is different in that it specializes in art and crafts from across the Oceania region with a loosely "tribal" categorization. That means you won't find the typical aloha shirts, sunset/whale/beach paintings etc. that are so common. Instead there will be masks, wood carvings, tools, weapons, textiles and lots of other items of a similar nature from across the Pacific. It didn't look to me like this was a bargain hunter's paradise, but surely a place to check out if you have an interest in indigenous art, history or have just had your interest piqued by the island feel. Going here feels a little like you could be in a small museum.
This is a store to go to if you have an interest in Hawaiiana, antiques, collectibles or just want to see something different from the common things in the usual shops all across Hawaii. The store has both antique & contemporary furnishings, vintage fabrics, all mixed in with books, games, and gifts. There aren't bargains here, but from amongst the eclectic collection of goods you might be tempted to take home something you may not find anywhere else.
What to pay: As much as you would in California