The rate of the room is cheap but there the cleaning fee and the service fee add up. The average per night is around $125, which is the price you pay at 2-3 stars hotels in Waikiki. The only thing is you don't have to pay for any resort fee. But if you are on vocation and wants a relaxing experience, I would go ahead and spend some extra money to stay at a hotel.
Location: it's around 10 minutes walk from central Waikiki area, not too bad. I didn't feel unsafe walking around the area.
Building: the building is mix of hotel and Airbnb. Once I get to the 13th floor, I smell a moldy smell that kind of smell like web socks. Not pleasant. The building is also a bit more run down.
Room: the room is clean but it's definitely not put together. You see the curtains are barely hanging up on the windows. There are blooms and cleaning supplies underneath the beds. Towels are provided. There's a dispenser for body wash and shampoo in the shower but no label on which is which.
Rules: the owner is quiet strict with rules. Everything is like extra money or fine. So make sure you read the rules!
Overall, if you want to enjoy a nice vocation, spend that 50-100 dollars for resort fee for a hotel. This is an option if you are only there to sleep.