The condo is newly remodeled and very clean inside, and although the complex is dated, it's quiet, clean, and very well kept. The bedrooms are quite small, which is always hard to tell from the photos. There is no place to store paddle boards, kayaks, etc which other places often have. I was staying for 2 weeks, so not having that option affected my ability to be out on the water each morning for whale watching, which would have been super simple given its location. If that's not an issue for you, don't worry about it.
I thought the ocean view would be great and worth the additional cost, but after staying for a couple weeks, I would have preferred to be further inland and away from the road, since the road is quite loud, and not that relaxing from the lanai. There were a couple police incidents at Kam III also. Not a big deal, drunk people yelling, etc, but another reason to not be directly across the street. However if you have young children being that close could be a big plus.
I'm kinda mixed on Kihei in general, so I wouldn't personally stay there again. It probably depends on what you want to do. Kihei does have simple access to other parts of the island which is handy if your focus is exploring the whole island, which we did a good bit of.