I'm not worried that the next tsunami will swamp it, or that it will be (physically) underwater in my lifetime, or that nothing will be done to prevent slow rise from swamping the land.
I'm just simply unwilling to make a 30 year commitment to today's value, when I don't know what we'll know in 30 years. It's an absolute certainty that we'll know more in 10 years than we know now. When will that property become un-sellable? When will the value start being impacted? I'd guess sooner rather than later, and if that isn't until 2040, that's still way too soon for comfort -- particularly if I'm trying to retire then.