Tell me you don't get a bit choked up when you watch this. It's actual footage from VJ-Day shot in Hawaii. The quote below is from the son, who shared the video with us.

65 Years Ago my Dad shot this film along Kalakaua Ave. in Waikiki capturing spontaneous celebrations that broke out upon first hearing news of the Japanese surrender. Kodachrome 16mm film: God Bless Kodachrome, right? I was able to find an outfit (mymovietransfer.com) to do a much superior scan of this footage to what I had previously posted, so I re-did this film and replaced the older version There are more still images from this amazing day, in color, at discoveringhawaii.com

There are a ton of comments after the video, and in one he explains how he added some sound effects. He did a nice job, for it actually appears to have been shot that way.