It is possible to save on parking, I found spaces very close to the residence, it is a great advantage, considering the minimum parking fee of $35 per night.
In addition to the studio being cozy, it is a short walk of less than 15 minutes from the beach. If you are interested in staying in Waikiki, you don't need a car, you can do everything on foot.
I definitely recommend it for the cost benefit, great price.