If you have a small family like us, a 2 and 4 year old, this is a great place to stay on Waikiki beach. This "condo/apartment" use to be part of the Outrigger resort right next to it, but now there are residents living there and they still rent out the rooms. I highly recommend getting the rooms with a full kitchen, it has everything you need, wine glasses and a rice cooker, even.
However, I must warn you, a one bedroom isn't truly a one bedroom, only a hanging pull out partition that doesn't even touch the floor or close all the way, but it was enough to give us some privacy.
You won't get a pool or much of the other amenities you'll find in a hotel (go to Outrigger next door and use theirs, like the Starbucks, Jamba Juice and four restaurants), but that's OK if you want the more necessary amenities for you and your family. Also, their furniture is a bit outdated, but the service staff is great.
We would go back.