The ocean view was amazing. The location on the island means that sunsets are a dream. If you are in Waikiki you'll have to go somewhere else for a sunrise view, maybe Diamond Head, but it's beautiful to just have coffee and breakfast outside in the morning with the ocean breeze. Admittedly, with the taxes and fees, the price is a bit steep, but it seems pretty on par with similar rooms at similar locations.
Pros: Water bottles and sunscreen kit provided were invaluable. The level of customer service is super high, you ask the front desk for anything and they are on it. I asked for some coffee and they gave me an armful. Location! You are within walking distance of so much, shopping centers, food, the beach! We didn't have to walk very far or drive a ton while we stayed here, definitely explore Honolulu though. The included valet/valet parking was amazing, and service is very quick. ABC stores on every corner!
Cons: Air conditioners seem pretty old, I imagine it would cost a fortune to update them, but only the master bedroom had controls for both rooms (my parents sleep cold and I sleep hot), and the rooms also take a bit to cool, that temp control is not accurate. Shower curtain in the bathroom smelled a bit musty.
Things of note: The shallow kiddie pool is currently being renovated. The resort didn't offer us the museum tickets, but I forgot to ask, and maybe they only offer when asked? Bring cash for tips (housekeeping, valet, concierge, etc). The beach gets busy around 11 am- sunset, it isn't too bad before, practically empty sans a few surfers before then. Checkout is 11, so valet is pretty busy around that time, I would recommend going earlier or later. Don't look too hard out of the bedroom windows to admire the city/city lights at night, people in the tower next to WBT do not always close their curtains.
Overall, Waikiki Beach Tower did everything they could to make my stay comfortable, and I would recommend staying if it falls within your budget :)