The Alaska Permanent Fund from their oil revenue is worth $90 billion and they send every resident an annual $1,000 check on top of heavily subsidized fuel. I think they can pay competitive teacher salaries.
Alaska is already in the top 8 median elementary school teacher salaries nationally, with ~$79,260 in 2025 compared to 2024 national median of $62,310 (couldn't find 2025). They were #2 and #3 in education spending as a percent of state GDP in 2024 and 2025. [1][2][3]
It would need to be more than just competitive, it would probably need to be doctor-tier "I'm giving up my life plans for this salary in Alaska" level (which is what I assume it's like for foreign labor).
It's possible they can afford it. I would think they would need to double or more their education spending (~$2.77 billion (24/25), ~45% -> wages) state wide which would be most of what the Alaska Permanent Fund pays out per year ($3-4 billion) [4][5]
I imagine it would be politically very unpopular for obvious reasons.