I've had a great time in Princeville. It's a small studio, but I didn't need more room. It has a microwave and a fridge, so you can warm stuff up and cool your drinks. The bathroom is really nice, large shower area. If I need to name one 'negative' thing, it would be the sofabed. Not that it doesn't sleep well, but it had a hard beam or something like that in the middle. Since I turn around a lot in my sleep I've woken up a couple of times because I ended my turning right upon the hard part. If you're not a turner, you shouldn't have any problem though.
There's a grocery store nearby and a couple of other little shops (check out the Shave ice shop and Lappert's!), and I've spent a great deal of my time in Hanalei, which is very close to Princeville.