Yup, just got back from a "too good to pass up" week in Waikiki. Spent it being "budget" travellers, eating in some small local establishments just outside Waikiki for less than $50/day for the two of us, and had better food than the "tourists" on the strip could get. Places like Ono's, and The Rainbow Drive Inn, and Irifune's are all award winning places with amazing Hawaiian food and very affordable prices. A dish for 2 for around $12, byob etc.
Got the airfare and hotel for less than the sale airfare price itself. Couldn't pass it up for just a simple rnr experience.
Stan