One of the things I love about it is the slower pace of life compared to where I live now. The people are also a lot friendlier.
Compared to Hamilton, it has slightly longer winters with quite a bit more snow, but the temperatures during the winter are similar to where I live. I actually really like winter and snow, so I could deal with that. What I hate most is the smog, heat, and humidity of summer. PEI has none of that. If I was FI, I would probably spend at least one month of winter elsewhere anyway.
It's beautiful there too. Very green, mostly farmland, and tons of shoreline.
Their employment situation isn't great, but that wouldn't matter during FI. I could sell my not so impressive house here and buy a nicer one for half the price there.
But alas, my boyfriend is quite a bit younger than I am and plans to work until a traditional retirement age and right now my son is still in high school and would miss his dad a lot. So, I'd say the dream is five years away for me.