Native islander Matt King (George Clooney) lives with his family in Hawaii. Their world shatters when a tragic accident leaves his wife in a coma. Not only must Matt struggle with the stipulation in his wife's will that she be allowed to die with dignity, but he also faces pressure from relatives to sell their family's enormous land trust. Angry and terrified at the same time, Matt tries to be a good father to his young daughters as they too try to cope with their mother's possible death.

In the 1920s, actor George Valentin (Jean Dujardin) is a bona fide matinee idol with many adoring fans. While working on his latest film, George finds himself falling in love with an ingenue named Peppy Miller (Bérénice Bejo) and, what's more, it seems Peppy feels the same way. But George is reluctant to cheat on his wife with the beautiful young actress. The growing popularity of sound in movies further separates the potential lovers, as George's career begins to fade while Peppy's star rises.