Timetable
The shops are normally open from 7:30 to 11:30 and from 13:30 to 17:00 or 18:00 on weekdays, on Saturday mornings at the same times, and sometimes on Saturday afternoons. Grocery stores, small island shops and supermarkets close later and remain open on Saturday afternoons and even Sunday mornings. On Sunday afternoons and holidays, Papeete is a dead city and you will find almost nothing open. Religious fervour obliges, the islands suffer the same fate.
Budget & Tips
Good news for your shopping budget: tax-free sales! In French Polynesia, any retailer whose sales in the store are subject to VAT can grant his customers the benefit of tax-free sales, under cover of an export sales note. To qualify, you must be at least 15 years old, permanently resident outside French Polynesia, and have been on Polynesian territory for less than 6 months. This system applies to all goods with a minimum value of 5,000 XPF per consignment note, except: goods whose sale, by their nature or quantity, constitutes a commercial supply for the buyer; consumables (food and beverages, tobacco); goods subject to certain special formalities (notably unmounted pearls and precious stones, and cultural goods).
This means you can buy tax-free pearls mounted on jewelry, as well as handcrafted art pieces from a gallery such as La Ganesha in Papeete.
Another good deal for your pearls: some pearl farms, such as Havaiki in Fakarava, offer pearl lotteries. The concept? You pay a fixed price and "bet" on a closed oyster, which is then opened in front of your eyes, and whatever the value of the pearl inside, the treasure is yours! Not everyone is lucky, of course, but even if you don't get a beautiful pearl, you'll remember it fondly.
Note also that since your final destination is outside the European Union, you can benefit from Duty Free (tax-free purchases). Note, however, that if you have a stopover within the European Union, you will benefit from Duty Free at all airports on the outbound journey, but not on the return. For example, on a Paris-London-Papeete flight, you'll be able to do Duty Free shopping in all three airports on the outbound leg, but only in Papeete on the return.
Finally, despite these good deals, haggling is not a widespread practice in French Polynesia, any more than in mainland France. While it is of course possible to ask for a small courtesy discount, prices in stores are displayed and must be paid in cash.
What's very local
Tikis, basketry items, cultured pearls, pareo, monoï, vanilla, tifaifai, tapas, shell necklaces, musical instruments (ukulele, toere, etc.); this is only a non-exhaustive list of the artisanal wonders that you will be able to find on the spot!