Pearlwood

The weapons and armor made from it are far better than anything cut from ordinary wood, and the comparison does not matter. Hallowed trees only exist once the Wall of Flesh is down, and by then you are wearing something built from a Hardmode ore. The whole equipment line is a curiosity or a challenge run restriction, not a step in anybody's progression.

Building is where it earns its keep. It is a pale, clean wood in a game whose palette is mostly brown, and it will not spread the Hallow into whatever you set it next to, so you can use it in a pure biome without turning the neighborhood into a rainbow.

Wild Hallowed trees are scattered and slow to find, so grow your own. Acorns will take on Hallowed grass out in the open, and on Pearlsand you get the palm variant instead, which is the easier one to plant in a straight row and clear in a single pass.