The GWT compiler is inherently slow. Konoplianko gave some answers in his answer, but it will only be so far. There are 2 more compiler options that will help. You can play around with the number of workflows, usually from 1 to 2 will help, and sometimes 3, but depending on your system it will damage the compilation time when you go to a certain point (usually 3 in my experience). You can also use the -draftCompile option if using 2.1. GWT was designed with the intention that you only compile when you intend to deploy something that is not at development time. It was assumed that you use the host mode for development because it can track what has changed and only recompile what is needed, instead of recompiling everything. I'm not sure if this will help, but changing output from OBF to DETAILED or vice versa can affect compile time.
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