I think he would have built his state of the art recording studio and quietly worked behind scenes with guitarists and musicians, maybe make some savvy, wise stock market share investments....maybe own a chain of music shops and restaurants......all the while living semi-reclusive on some paradisiac island.
He would have found inventive ways to keep his superstardom alive in the decades ahead; Jimi's star in music legend fame would no time soon fade or burn out.
Hendrix was a Army machine gunner during the Korean War ( hence his inspiration for the song, "Machine Gun" )--and he VERY QUIETLY, supported U.S. vets serving in Korea and Vietnam wars; he actually spent $$$ through trusted friends, who sought out and met these war worn vets who needed a friend and some help.
So I think Jimi would bring THAT hidden side of him out more, as the 80's progressed on towards the eventual "War on Terror"---but he also would stand AGAINST these war conflicts.
Had Jimi lived on---I'd look for him in Northern Mississippi---maybe close to Memphis, seriously grooving to down home Delta blues guitar......maybe he'd made some quiet cameo visits to New Orleans.
Jimi would drift along where any artist would have arrived to---and just do what his artist within him sought to do.
Jimi would have LOVED to be there for Rock and Roll Hall of Fame induction.