Overall a decent place but you probably only want to go here if you plan on taking advantage of the free parking space as this can save you money and it is very convenient. Otherwise, you could probably find cheaper places that also supply things like beach chairs and towels, etc..
The location is right in Waikiki if that is where you want to be but it is about .5 mile from the beach. Also, the streets are very noisy and can keep you up at night and wake you up early in the morning (I'm guessing this is true at most places though).
The bed was comfortable for my wife and I but we didn't like the pillows as they were pretty flat. One annoyance is that the AC unit drains water into a 5 gallon pail on the deck and you have to dump it into the bathtub on a daily basis.