The space was just big enough for the two of us. For our "working vacation" on Oahu, it was great to be able to cook breakfasts, grill a few dinners, and prep sack lunches for island explorations. It was nice to have the pool on sunny days; and the other available amenities there (beach towels, etc.) reduced our luggage to a minimum.
While we were awakened early by roosters on Kauai, the morning sun here was quieter but no less insistent as it flooded the room from the lanai.
The location was easily within walking distance of the beach, convenience stores, etc., though we drove to Ala Moana Park.
(Consider whether you really want a car, without paying for a garage, if you're staying in Waikiki. I've decided it's like having a dog in an apartment: you have wake up early to take it for a walk, think about where to keep it when you're out to dinner, etc. Seriously, there are better things to do with your vacation time than circling the Ala Wai canal hoping for a parking spot to open up.)