An economical option for Honolulu and the Waikiki area with a "million dollar view." Really can't say enough about the view; from the unit I stayed in (3706-the side with a kitchen area) you could see the ocean, Diamond Head, Waikiki, the mountains, etc. etc. I also did like that the windows opened and you could enjoy the trade winds, but it is the 37th floor and there are no screens or guards, so you might want to take this into consideration if you are traveling with animals or children.
Unit was nicely equipped and there were plenty of towels provided. The Waikiki Monarch is not an upscale hotel but it was clean, security was friendly and active and there were no sketchy character encounters there while I was around (the last of which is pretty amazing for Waikiki.) If you are coming for a vacation it is only a ten minute walk into the heart of Waikiki, and ten to fifteen minute walk to the nearest beaches. In the other direction it is about fifteen minutes to walk to Ala Moana Mal