Here are my thoughts posted years ago about our May 2007 trip, edited a bit. I doubt if things have changed that much. I won't touch upon the value for $$ aspect but give you my impressions, good and bad.
We did Spirit of Aloha on a Friday night. There was a very long line-up, and it took a long time to get in. Fortunately, it was a nice evening, so we did not mind waiting. Eventually though, they came and told us that if we did not want our picture taken, which involved extra $$$, we could go in a much faster line.
The seating layout was the biggest disappointment. (even though I had paid extra for tier 1 seating). The tables seat maybe 9 people(or was it 11 or 13?) and you have to look along the length of the table to see the stage. We were seated at the far end of the table, and the family nearer the stage were all large people, both height and width. (I am only 5'8) Too make matters worse, since people like to take photos or movies, hands and cameras are constantly out further blocking your view. If you manage to get at or near the very front of the table, I'm sure it would be great.
The show itself was two parts. The first was a rather corny, predictable "love/ugly duckling" story. However, the second part involving various native dances was quite entertaining, particularily the fire dance.
We enjoyed all the food, particularily the Pineapple-coconut Bread. Again, we ate too much. The price included all-you-can drink beer and wine, but we are small drinkers so that was not much of a bargain for us.
The waiter was fine - professional but not as sociable as I would like.
Overall, we were glad we did the show once, but would not likely do it again. Maybe years from now.