Location, Location, Location! That is what this place really has going for it. My wife and I enjoyed our stay here. The view is great! Easily the nicest lanai view I've ever enjoyed in my 10+ visits to Waikiki.
Things to note:
1) As described, the lanai is shared. If that is something that might bother you, you will not enjoy it here. But believe me, it is worth sharing because the view is quite fantastic!
2) The place is literally just two studio apartments that have been combined, so probably most comfortable for two people only, or two with a couple of kids at most.
3) This is Waikiki Beach so some noise at night is to be expected.
4) The air conditioner kicking on and off at night may bother some people but really did not bother us. By the way there are two a/c units in the place so it is always comfortable.
5) Communication between the host's assistant and us was perfect. Everything went smoothly.
6) The free parking spot is an added bonus, but be careful that you don't have too big of a car as it gets tough to fit it in the spot. We rented a Ford Edge and it was too big!
7) The place is right next store to an ABC store, a restaurant with happy hour specials, and a Starbucks! No complaints there.
8) The front desk personnel were always cheerful and professional. Much appreciated!
9) The place was clean!
We did have a few things that bothered us although none of them were deal breakers. The wifi is a bit slow, the bathrooms are a bit dated, and the house rules are definitely written as though the owner has had a few bad experiences with clients in the past.
Overall, a lovely stay!