When it comes to value and location, you simply can't beat Larry's spot. We rented a car one day to go to Pearl Harbor + North Shore, but other than that, everything else was easily walkable: great beaches, restaurants, etc. We even walked to Diamond Head and back.
The one note is that we caught a bad break for the first 6 nights of the trip as the people in the room next to us had a baby who was crying constantly. We woke up to the baby crying. We went to bed with the baby crying. It was just a bad break. When that family left, a new family took the room, and we didn't hear a peep from them. The signs around the building call out the walls are thin and to be respectful to the neighbors. We absolutely experienced that minus the baby. But hey, what are you going to do? It's a baby :)
Don't read too much into the above note as we really think this was an outlier due to a very upset child. We'd love to book Larry's place during our next stay. Thank you sir!