I've played about an 8th of the 80-90 courses in Hawaii, and I'd say even Plantation be #1 by a mile would be a stretch. It's probably ahead by more.
It could potentially be challenged by a place like Nanea, if anyone ever gets to see it, but I would think Plantation is still better (without knowing anything about Nanea other than it's a Kidd course).
The Kauai Lagoons course is decent, as well as Poipu and Pu'ukea (near the Lihue airport on Kauai). On Maui, Wailea Gold and the Dunes are decent as well, among those I have played.
I've heard that the Challenge at Manele, Royal Kunia, one of the Turtle Bay courses, Hualalai, Mauna Kea are among the best I haven't seen.
I'm personally not a Princeville fan, though it is a feat of construction. It's overly penal if not very, very difficult, and is quite an experience.