How bad is it? It's nothing special.
Should you see it? Only if you're a Roger Corman completist.
This is one of the non-horror films Roger Corman directed in the 1950's. Brothers find an island of pearl-diving women. One steals pearls and ends up as shark food. The other falls in love with a girl slated for ritual sacrifice. Nice Hawaiian scenery and period swimwear, but little of interest otherwise.