First and foremost, this home is genuinely nicer in person than portrayed in the photographs. The lanai alone justifies the nightly rate, with everything else being a bonus. Over two weeks we visited nearly every corner of the island, and this was actually our favorite area in terms of the scenery, flora, and lower number of tourists. The downside of this location is that you'll do a bit more driving each day in order to visit restaurants, grocery stores, and other destinations on your list. I do recommend sleeping with earplugs as the 4 am rooster wake-up call took us a while to adjust to. The wildlife (chickens, wild pigs, geckos, etc.) is something we came for, one just needs to be prepared for the sounds of nature.
The beach at the bottom of the subdivision is a rocky beach that is a convenient place to take in the sunset before dinner. There is some decent snorkeling on the northern end of the beach, as well. With Ho'okena and Two-Step being so close, you have world-class beach and snorkeling options within close range--you could spend most of your trip close to home and not feel short-changed. We are big fans of The Coffee Shack and Shaka Tacoz, which are close-ish to home. Kaya's coffee is an excellent option after a visit to the Choice Mart (groceries). The manta ray night snorkel must be a non-negotiable for any visitor. If you grow weary of snorkeling and simply want sugar sand and clear water, the drive to Hapuna Beach is totally worth it (we spent the morning there before a luau in Waikaloa). Makalawena is arguably the best beach on the entire island, but it does require a short hike. We also hiked to Kiholo Bay and the highlight of that trip was visiting the flooded lava tubes called the Queen's Bath.
If you couldn't tell, our family had a great time and we highly recommend this AirBnB rental.