Or is this an unsubstantiated fear that I have??

While many homebuyers in this market fear the imminent housing bubble that has made home ownership in Hawaii near to impossible on a single income, I found a niche into the market last May of 2020 by purchasing a condo in North Kona ($335K) in an area known as the Palisades. 

Kill the fear and make equity happen!

It is a little overwhelming being so new and my only fear is choosing a market where my limited capital doesn't do it's best for us. 

If your providing value that matches the rent, there is no reason to fear losing good tenants.

Unless you're east of the Cape Fear River, you won't find many large tracts of flood land, if any at all.

Making calls is not my fear. 

HOWEVER, I want to add something in the lease to the effect of, “if either tenant vacates property for any reason (to include death), other tenant must meet income qualifications to keep lease valid” so that if my tenant dies (my biggest fear- he’s in his 60s), I can boot her out if she is a trouble tenant because she wouldn’t meet income requirements on her own.

Don't fear risk but be certain with your numbers and your gut on that first property. 

Try to pinpoint areas/neighborhoods where older homes (60's/70's builds) are more prevalent.