I heard a law passed this past week which will require all vessels more than one mile offshore to carry either an EPIRB or VHF. You can view the bill at:

http://www.capitol.hawaii.gov/sessioncurrent/lists/getstatus2.asp?billno=SB42

By coincidence, I purchased a Uniden-Voyage at West Marine this morning. Tiny, Waterproof, and AC/DC rechargable under $200 on sale this week.