I have DirecTV and previously I had Time-Warner Cable. They offer some reasonably cheap packages with extra savings the first year, and additional discounts through the second year (full term of the contract)
I looked at a lot of ways to watch Free TV on my computer and unfortunately there are not many options that don't cost you something.
One website is USTVNOW. It is live broadcasts of the over the air broadcasts of ABC, CBS, NBC, FOX, PBS, etc (about 6-8 free stations). The broadcasts are typically from New York affiliate stations, so you do not get your local news. The other problem is that the broadcasts are not in HD, but overall the quality is good, depending on your monitor's resolution. You can get a lot more channels like ESPN, TLC, Food, CNN, DISC, History, etc but it cost about $100.
Another alternative is Hulu.com. They have a free package that allows you to watch previously air episodes of many of the populate TV shows, but usually it's after the end of the season. They do have some shows, like the Tonight Show with Jay Leno, etc that you can watch the next day...after about 9:00am.
Hulu also has a pay version HuluPlus that is only about $7.99 and you can get some live TV, Movies, and other programs, mostly delayed broadcasts. Very similar to the $7.99 NetFlix streaming videos of movies and episodes of popular TV shows after the end of the season.
If you have a DVD, PS2 or a TV with apps that allow streaming video, you can watch them on your TV or PC. If you have a laptop, tablet PC or one of the newer SmartPhones , you can download the hulu, and NetFlix apps and you can watch movies in your backyard, hotel room or sitting on the beach, as long as you have a good WiFi connection.
I have Hulu (free version), NetFlix and a RoKu streaming video box that has about 25+ or thirty free channels and some pay channels which gives me access to far more movies and TV shows (delayed) than I could watch in a lifetime..:grin:
PS: I just read that you live in Hawaii, so I don't think you can even get DirecTV there?
Another option is to use basic cable for you local stations and local news and then use Hulu, NetFlix and free USTVNOW for some of the other stuff.
...Rich