The theme of this place is old and good value for money. I definitely think that this place was a great bang for our buck. Just 2-3 blocks from Waikiki beach and downtown, it was very convenient to walk everywhere. We didn't end up parking under the building since it was $25/day and there were very few spots, so we followed another review and went to Waikiki Banyan for $150/week with in/out privilege.
We enjoyed the close proximity to everything and our own place. We did not enjoy the fact that things seemed dirty. There was no dust anywhere, but the towels and bedding had some stains and the kitchen utensils were dirty (or at least looked very dirty).
Overall, great place to just have a place to sleep near the beach. Don't expect 5 star luxury and a brand new place though, especially for this price. I'd stay again if I just needed cheap accommodation to spend more money out and about.