We spent three weeks on all the major Hawaiian Islands and were not that keen to visit Waikiki but had to for our flights home. We were so glad to stay at The Modern!
We loved the decor throughout the hotel and in our room - so "modern" and clean. Comfortable bed too. We had an ocean view - nice! I can imagine the rooms on the other side would be a bit noisy as the road seemed to be quite busy. The rooms had all the touches a Gen Y couple want like wifi and an iPod dock so we were happy.
The location was good - only a 5 minute walk past the lagoon and then you're on the main beach. We had dinner at Roy's in Waikiki (awesome) and that was a short walk too. Also, the hotel is close to the Ala Moana shopping centre and like a 10 minute walk (max).
We had a great time hanging out by the pools which is not usually our thing. Great cocktails (particularly during happy hour) and every night there was different live music around happy hour/sunset - we LOVED it!
We never ate at Morimoto, but had brekkie by the pool. It was a bit expensive, but it is a hotel brekkie. Nothing mind-blowing for the brekkie menu but the usual suspects: granola, eggs benny, brekkie burrito, eggs on toast, etc. What we had was good though.
We would definitely come back if we were in Waikiki again.