Plot hole: When the Allies blow up the airfield they pour gunfire from the backs of the trucks into the tents where the Japanese soldiers are eating. If you watch carefully you will see that the Allied guys in the truck nearest the screen are pouring lead through their comrades in the other truck. Another classic case of 'friendly fire'.
Continuity mistake: A sailor goes out on the luau covered deck to get his guitar, during an air raid. He lays down while a Zero strafes the deck hitting his guitar, which goes flying into the air toward the camera and lands about 10 feet from the sailor. In the next shot, the sailor kneels up and grabs his guitar which has appeared right next to him.
Other mistake: When Anne and Peter are looking at the stars, Anne points to a star and Peter knows what star she's pointing to. It is impossible to point to a star and have someone else know exactly what star you're pointing to. Try it.
Factual error: It appeared that, during the engagement with the Serapis, every hit by either ship's guns resulted in an explosion and fire. Unfortunately, explosive shells wouldn't be used on shipboard (aside from bomb vessels) until the next century.