I dont see the area challenging Christmas Island or Midway Atol (still in business?) as a premier fly fishing destination but there is probably potential for enterprising charter captains to widen their clientel by offering something for experienced fly anglers looking for a new challenge.
The trade winds are a constant factor - you can expect 10-20 mph as standard with 30mph not unusual and the swells gets very bumpy real fast. That can lead to frustration and potentialy dangerous situations with heavy fly-lines and big hooks combined with an inexperienced angler and (in terms of technique) inexperienced crew!
Inshore reef fishing could be great to exceptional if seas allow a smaler boat to get close enough in safety - the locals throw small dark plugs right into the white foam at the base of the cliffs to hook up with 100lb+ Giant Trevally. I came across a couple of locals with throw nets when I was shore fishing and based on the size of the mesh they were targetting some decent sized fish. These guys were subsistence fishermen looking to feed their family. One of those guys might be tempted to take up shore guiding to supplement his income.
It will be interesting to see how things develop. I'll certainly never go back without my flyrod