The category of "B&B" for this hotel is a bit misleading. The hotel is so special that it belongs in a category of its own. We have stayed in high end luxury resorts in places like Tahiti, Seychelle Islands, Bali, etc., and found the overall experience of the Holualoa Inn to be as special. The price is high, but worth it. It's like arriving at a multi-millionaire's private home and being welcomed as a special guest.
We spent a total of 7 nights, in two of the six rooms. They are all beautiful, but different, so it's hard to recommend one over another. The staff are all so wonderful that I don't want to mention any one by name, for fear of leaving someone out.
Although there is no dining room on the property, there is an excellent restaurant that is a 5 minute walk away (I think it is called Halualoa Cafe). We ate at about 10 different top end restaurants on the Island and thought that the one in Halualoa was actually the best of them all.
In terms of "practicality," first time visitors to the Big Island should know that the most beautiful beaches and hikes and sites are spread out all over the island. In other words, you need a car to see this island. We used the Halualoa Inn as our base, and went off every day after breakfast to explore the island, returning to the tranquility of Halualoa for dinner and the evening. We would have done the same thing if we had been staying at the Four Seasons or the Mauna Kea.
One recommendation: by all means rent a 4 wheel drive car! The most beautiful beaches on the island are not accessible to 2 WD cars. These beautiful beaches are usually not marked with signs on the road, and can only be identified as "take the dirt path on the left between mile marker 90 and 91 on the highway". The best way to find them is to buy a copy of the Big Island Revealed guide book. (The hotel has a copy.) In accordance with local custom, I will refrain from identifying the most beautiful beaches, as we want to keep them secret!
We will definitely return to the Halualoa Inn.