Overall, a decent place for two people to stay, but four was pretty tight (we have two teens). The shower and toilet are co-located, so you having only one bathroom for four people. Bed-wise you're fine with two queens and a pull-out. Kitchen is spacious and clean, but no dishwasher. Good selection of dishes, though. Living room is open and roomy, but could use a TV update that makes streaming easier. Back lanai is great. Good view of the canal and no buildings super close.
Location is excellent: one block to Waikiki and easy walk to main drag with shops and restaurants. I'd put this in the good but not sublime category.