First, let me just say that the view is absolutely amazing. While the place is small, it really is a great spot for what most folks need in Hawaii...a place to sleep.
Things to know. The bed is tall. I'm 5'4 and the top of the bed was higher than my hip (taller than the counter in the kitchen). I had seen this mentioned in the reviews but want to worried about it. I ended up with a shoulder injury during my stay and this bed really did become a problem. There is no step provided so it really needs to be a factor in decision making. The height of the bed is for a purpose. The base has two sets of drawers for storage.
The next thing to note is that while the view is spectacular, the amount it causes the room to heat up is significant. The room does not have central air but does have a stand alone unit next to the bed. The unit is efficient and fairly quiet, but it can only do so much. They have blackout curtains hung so as long as you keep the AC low and the curtains closed it is manageable (at least in Jan - I would not be so sure in the summer months).
Both of the items I mentioned are manageable and overall I had a great stay. They are just factors to consider. The location is great and the building has an observation deck if you like to chat with others or have a glass of wine with company. The view from this room is just 1 floor down and allows for a nice private viewing of the sun sinking into the water or rising over Diamond Head.