The hotels are less than 3 blocks from the beach. As everywhere else in the world, the closer you are to the beach the more expensive the room. Remember that Waikiki is very small and everything is in walking distance. Note also that some areas are noisier usually Kuhio avenue to the beach. The more quiet are from Ala Wai canal and the back side of Waikiki.
Parking space is very limited, expensive and difficult to find.
It is a different story if you want to visit the rest of the island because public transportation, even though is very good and reliable, is also very slow. We suggest that you take a commercial tour around the island first, then rent a car, return to those places you like best during the tour and spend time there at your discretion. Under no circumstances you should leave any valuables in the car, including hidden in the trunk or under theseat. By State Law, all children must travel in the back seat of the car and those under three years of age must use a child seat at all times during the trip. Usually this can cause some stresses that include possible robberies, threats, taunts, and people looking at you in a funny manner.