Pros: conveniently located close to Waikiki beach, parking and hotel staff are very nice, good location for kids (close to lagoon), clean, no bugs, comfortable beds, great view, on Friday nights there is a huge fireworks show right in front of the room!
Cons: no soap/shampoo/conditioner/tissues/paper towels, somewhat "you're on your own" attitude from the host, strict checkin/checkout times, not very welcoming notes left about the place (if the toilet/sink clogs its your fault and you will be charged, if anything goes wrong it's YOUR responsibility- I mean I get it it just doesn't seem very welcoming), extra $28 a night for parking at the hotel, $15 a night to park across the street, extra charge for wireless internet or phones, dirty sponges and rags left out on counter in bathroom and kitchen.
Overall good value, but don't expect a 5 star hotel experience and remember to bring your own soap!