We spent a week at the HHV with our three children last summer, and had a great time. The beach in front of the hotel is off the beaten path for the most part, so it wasn't as crowded as those areas closer to Dimond Head (like near the Sheraton in particular). While the hotel does in some ways remind me of the Fontainbleau Hilton on Miami Beach, IMHO the beach is much nicer, and the grounds more lush. We we're in the Rainbow tower, Diamond head side, and had a great view (if I recall correctly we were up on the fifteenth floor with a balcony). Nice fireworks display on Friday nights.
Great place to relax around the pool and have a few cold ones. We thought service in the hotel complex was great, much much better than the Fontainbleau (which I feel has gone WAY downhill in recent years), but again IMHO, the food quality at the resort's restaurants were not that great considering what we thought were extremely high prices, even for Waikiki (and we're not at all picky, however, we did not try the Chinese restaurant). Fortunately, there are a lot of other good restaurants in the area that you can easily walk to. For Christmas last year we sent my parents there for (9) days, and they loved it (their first time in Hawaii).
You'll have fun here. Great place to relax!