The Shell Vacations staff was friendly and provided exceptional service. Check-in/out was a breeze and any requests were processed promptly. Our family of 9 stayed here from Dec. 14th-24th and reserved 3 suites, and they gave us suites on the same floor and within 6 doors of each other.
The suite was a spacious studio with a full kitchen with a full size fridge/freezer and stove/oven minus a dishwasher and counter toaster-oven. We ate out every day, but also cooked at least one meal daily and found the kitchen/supplies to be great. The room was clean and the beds were very comfortable, even the pull-out sofa-bed (which surprised me). The TV had several channels to accomodate everyone and the lanai was very large, but we had a city view which I found a bit loud as Ala Moana Blvd is busy as the buses/trolleys/etc all run along here.
The Ilikai is on the NW end of Waikiki, so it's a bit of a trek to the main area on Kalakaua Ave. where the shops/restaurants/lounges are. However, there are plenty of restaurants nearby and the massive Ala Moana Center (which we visited 4 times) is a couple blocks away. We also enjoyed the huge Ala Moana Park/Beach was across from the Center.
(NOTE: there are tons of ABC stores around, almost 1 on every block, but it's the tourist $$$ for most of their items so you're better off picking up stuff at Longs Drugs or Foodland at Ala Moana Center a couple blocks over.)
Waikiki Beach; the beach was a bit a trek from the Ilikai (especially when carrying towels and beach toys) and the sand was only fine where the waves splashed in (which was good for the kids to play-in). Once you walk into the ocean, it's full of eroded coral bits and shells. Fortunately that means the waves are calm. The temperature was in the low 20s during our visit, but the water was cool, my kids would spend about 20-30 mins swimming before getting cold. We also noticed a few homeless during the day and more sleeping at night. I'd rate it average as there are several better beaches in Oahu.