We booked this hotel thinking that it would be within walking distance of some of the attractions we wanted to see. Its always difficult to tell on a map, and in reality we ended up taking a taxi to most museums AND to Waikiki.
I have no complaints about the hotel itself; it was clean, relatively modern, and pleasant. However, unless you're really planning on spending time at the nearby Ala Moana mall or the downtown area, I'd recommend looking harder for a deal in the the Waikiki beach area. We quickly regretted our choice, wishing we had booked something closer to the ocean and the wider range of restaurants & entertainment available in Waikiki.
Worth mentioning as well: there is a public beach nearby, however it is less well maintained than the hotel beaches and not necessarily safe or pleasant to walk barefoot on.