We just stayed at the HHV in August. We were in the Rainbow tower, with Diamond Head and ocean view, this was really great. It was a nice room, clean and not worn at all. As NCRedding mentioned above the beach area is really nice, but the Super pool is anything but. It closed at 5:30 each day,they had entertainment at poolside after closing, and I thought it would reopen after that, but it didn't. There is another pool in the complex that is open later, but it is even smaller. DS's had surfing lessons on the beach there, and were really excited because Clyde Aikou gave them their lessons. The hotel, as mentioned already is down from the main strip of Waikiki, we went to drive there one evening and couldn't find anywhere to park, so we went back to the hotel and got a taxi for about $6.00. The thing that was nice about HHV was that there are so many eating options you don't have to go far, and you are walking distance to your room. We like to have breakfast in the room as we are not big breakfast eaters and would get what we needed at the ABC store, but don't go in the evening, it is packed with very rude people pushing and shoving. By the end of our stay I would go during the day and it was a lot better. There is also a Whalers General store in The Diamond Head Tower. These 2 stores are also all over the island.
We had dinner at Benihana's which we liked and ate there twice. We ate one night at the Village Steak and Seafood, it was OK. And we ate at Sergio's one night and had a good meal there.
If we went back to Oahu, I don't think we would stay in the Waikiki or Honolulu areas. It is very congested and getting around is not that easy. We stayed at the Kahala Hilton 22 years ago for our honeymoon (It is now the Oriental Mandarin) and we liked that as it was, a much more relaxing atmosphere.