DynamoDB local is taking 100+ ms to perform a single put operation against my table. The docs say that throughput is ignored for local dbs, and is only limited by the speed
This is an old question, but is still quite relevant - according to Stackoverflow it has been viewed over 2,000 times over the years. As FLXN already explained in his answer, DynamoDB Local was meant to be a tool for developing applications - it wasn't meant to be a real installable replacement for DynamoDB. It is neither efficient enough, nor highly-available or durable enough, to serve as a real database.
But since recently, an alternative is available if you want a real (highly-available and efficient) installable database with DynamoDB API compatibility: ScyllaDB recently announced that the open-source Scylla database now has DynamoDB API support. This support is not yet perfect and still missing a few DynamoDB features, but compatibility is improving quickly and you can check out this document for the current status of Scylla's compatibility with the DynamoDB API.
Full disclosure: I'm a ScyllaDB employee, and one of the developers of Alternator - Scylla's support for the DynamoDB API.