Yes, Europe, especially Spain or Portugal are on our list. France not so much, since it suffers from very similar issues than Germany. Regarding the equatorial zone: Agree - especially considering, that we have roughly 30 to 35 years more to live, it would have to be a spot that "still exists". We're aware of that, also of the fact, that one can not escape one's own problems by escaping a certain place. But since our son is just 6 month old, we have at least close to 6 years time, where we can go, wherever we want, before we have to send him to a school. Thanks for your suggestion!
I might consider Hawaii or Massachusetts. School especially would be excellent in the latter, when time comes. Progressive and liberal politics. Cold winters unfortunately but at least the gas does not come from a hostile superpower.
One other thing about most US locales, is property taxes are relatively high, and they fund the local government (i.e. your town - they pay for police, school, etc.) which is something a lot easier to control than state or federal government. I've known fellow engineers who ended up investing time/effort to join the local town government and have impact on how that money is spent.
The challenge with Islands near the equator are the natural disasters.
Have you considered Asia, or even the south of Europe? Portugal maybe?
I have a friend who moved from The Netherlands to very small town in France. He was mostly seeking quality of life for him and his family.