Comfortable stay for the price. It worked for myself and one other (in our mid-twenties) for a few nights, and it was better than staying at a generic hotel, but it also wasn't luxurious. No amenities such as beach gear or beach towels, TV, drawers for clothes (just a few hangers in the "closet"), etc. You get the bare minimum for a doable stay- two bath towels, bed sheets and light comforter (no extra blankets), a small refrigerator (no freezer), one floor lamp, basic/cheap toiletries, and some basic cooking appliances.
Laundry was on the ground level and open to the street, and I personally didn't feel comfortable using the machines. The elevator up is open to the street as well, and although you need the key to get into the elevator and up to any floor, we had several people who "forgot their key" try to get in with us. Parking is $20 for an ungated garage (I recommend getting insurance on your rent-a-car because of this) but apparently that's not a bad deal for Waikiki. Location was good and central, but as other people have commented, the room faces a busy street and will definitely wake light sleepers. I'm used to city noise so motorcycles and loud engines revving late at night didn't bother me, but keep this in mind if you're more sensitive!
Communication with the host was good and they were quick to respond to my questions and concerns.