One more question --How much $$ should we expect to spend on (everything) food, sightseeing etc on a 8 day trip in Waikiki?
We would like to try to keep our budget around $1000 Is this possible without starving and beoing bored to death?

How many people are you going to have with you and is the $1000 per person or for the entire group?

2 people traveling (adults)

From the research I've done, it sounds as though it is fairly inexpensive to get into museums, attractions, etc. (example: $1-$9 per person)

Of course, laying on the beach is free!!

Luaus are a bit more expensive, but worth it. Depending on the hotel you stay at, you may even be able to attend one for free.

Food is always expensive when visiting a popular vacation destination. No matter where I've gone on vacation, someone inevitably says to me, "You know, the food is really expensive there." So, if you've done any traveling you'll know what to expect to pay for a meal. It also greatly depends on where you eat (4 star restaurant vs. McDonalds)

If you don't plan to buy out every souvenir stand you come across, $1000 should be plenty of money for two adults. $1000 was my budget (for two) for my one week trip to London and I ended up coming home with almost $200.

I agree. That should be plenty. Car rentals are around 35 per day. They probably have a good busing system. Check out bed and breakfasts versus hotels. I found plenty of b&bs for well under a $100 per night on vacationspot.com and alternative-hawaii.com.