Carlos from Spain:
Monaco is located in a nice part of the mediterranean, the weather is nice, its on the coast, its a typical place for the summer vacation, so it has "natural" beauty but nothing exceptional. But Monaco in particular is special because of its special city state status and the revenew it generates that reverts into the city's services. It concentrates wealth, its very clean, its landcape is well taken care of, very low crime rates, there is no unemployment, social services for its citizens are the highest of the world I would say, very fashionable, a hot sport for the rich, its a tax parasite for those that buy their citicenship and want to evade taxes from their place of origin, etc. So there are many eauropean locations just as pretty or even prettier, true, but Monaco is very singular in many aspects and gives it its "specialness" 
Very well aware of all that, thanks Carlos. I have been watching the Monaco F1 race off and on since the Jackie Stewart days covered on ABC's wide world of sports.
I have seen most parts of the Med beach area's and they are hardly tropical, more like Maine in the US. And we all know what the water in a busy harbor looks like. You wouldn't catch me jumping in there.
But seriously, Honolulu would be ideal for an F1 location, weather, beauty, transportation hub, hotel capacity, and wealth.
If flight control allows...
