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I think that would be a very cool mechanic, especially for a sim game like animal crossing or stardew valley were there are already resources that only appear during certain times. 

I would be careful about implementing it in games in which players expect to constantly move the story forward by progressing through a map in case it impedes progress. For example, how annoying would it be if you could only go to a gym in pokemon during certain times of the day, forcing you to wait around until the tide came in? Basically, it would have to serve a game play purpose, not just be there as a cool thing, or players will get frustrated that it exists 

(+1)

It could definitely cause issues if it forced a story to stop and made the player wait until low tide to progress. I think it could be cool to hide treasure in open world games though.