We travelled to Waikiki from NZ in July, there were 4 couples and we all enjoyed our stay in Waikiki!
The Coconut Waikiki is great value, the rooms are clean and spacious, the service is great, and the price is right. It is not a beachfront hotel, and our view wasn't exactly appealing, and the pool is small BUT if your coming to Waikiki to explore then I wouldn’t hesitate to recommend the Coconut Waikiki Hotel. It was perfect for us!
It’s within walking distance to the Waikiki centre but it is slightly further away than some other hotels. We are all young and didnt have any children with us so the distance wasn't an issue for us. We enjoyed that we got to walk around and explore more of the city.
If this hotel fits your budget and ticks the boxes for what you want I would happily recommend it to anyone!
Oh and I do have to mention the beds, very comfortable!