and then taking screaming deals when available. I've banked more than 700K miles/points for trips through credit cards and domestic business trips.

However, I occasionally see a deal like $189 round trip form the bay area to Cancun, which I jump on.

As for Hawaii, I use the companion pass on Alaska Airlines, so my total fare for 2 people is $250 apiece.

As for Europe, you can go during the off peak months when prices/miles are low. I did a trip to Spain last year in February where I gave up a total of 15K points and that was airfare. The offpeak hotels were around $70/night.

You have to be flexible and prioritize travel once or twice a year to make it happen.