ok so, minor addition here.
Both ac and HVDC are relatively efficient forms of power transfer.
The problem with AC is the skin effect (tl;dr is that the current is carried around the edge of the conductor, not the center, though you can cheat this as well) And the fact that AC running in a submarine cable is going to essentially act as a capacitor, and cause problems. (large losses)
AC traveling through the air doesn't have this problem. The skin effect is less pronounced than you think because you can just use a higher voltage since it requires less current (transformers also have really good efficiencies when not saturated or undergoing other shenanigans) Also you can design the cabling to abuse this, using outer strand conductors, and then an inner structural strand, to strengthen the line.
HVDC is particularly applicable in undersea cables, due to the capacitor thing just not existing. Making it actually viable. It's applicable above ground, but the problem is transforming between AC to HVDC and then back to AC. There are reasons to do this, for instance you may be between two grids with two different frequencies, this is the only solution in that case. You may want the grids to be able to operate semi independently (again frequency related)
The big problem with HVDC is that it's inevitably more complicated. Prior to micro electronics we would use vacuum tubes, or prior to that, two motors linked end to end, one run on AC the other generating DC, and then duplicate that in reverse on the other side (that was also how we used to do voltage conversion in DC systems IIRC)
These days we just use semiconductors, but carrying a lot of power is hard, and expensive. (and also not perfectly efficient) There's a reason massive boxes of copper wire and mineral oil are the standard solution. Dead simple, easy to maintain, and they quite literally just work.