Great location, just outside of Waikiki which, for me, was perfect. A short 15 minute walk takes you to the best spots to eat and people watch. The best discovery, however, was the Biki bike system. These little "pay as you go" bikes are everywhere and make getting around tow a breeze - I could hop on one right down the street and be at Ala Moana beach park in 10 minutes.
The place is just as it looks: nice and clean with a great view of the canal. The area is safe and the city/mountain view is captivating, especially in the morning when making coffee.
The only negative part of this is the checkin time (4pm). With flights from the mainland typically landing around noon, this means you have 4 hours to kill. Normally, this would be no big deal - it's Honolulu right! But getting off a plane with your stuff, tired and nowhere to change... it's kind of a pain. They do hold your bag for you (for $2) which is nice and let you hang out by the pool, but if you fly in jetlagged and want a nap be prepared.
There's also an ABC store right down the street (I think there's one down every street) so stock up on water, coffee and whatnot, utilizing the kitchen and laundry - it makes for a nice, cheap trip.