Resurrected this thread from 5 years ago:
Southwest Airlines Enters Hawaii - Alaska Airlines May Be the Biggest Loser - FlyerTalk Forums
Not only has AS held their own, but ALK's acquisition of HA will grow the combined market share. Under the OW umbrella, the interisland business will grow substantially, if for no other reason than AA / AS elites looking for free premium seats, checked baggage.
WN will be stuck with budget leisure travelers, using the companion passes they "earn" with very generous promotions, while ALK fills first class and premium economy cabins.
Where are all of the WN fans now?