Seaside Hawaiian Hostel
Just one year ago (February 2008), Hostels.com declared the Seaside Hawaiian Hostel as one of the top five hostels in the world. This hostel is close to the nightlife on Lewers Street in Waikiki, the bus lines on Kuhio Street and Kalakaua Ave, and just blocks from Waikiki Beach.
Guests at Seaside can choose between tastefully decorated regular or premium dorms, semi-private rooms, or perfectly private ensuites. Dorms start at just $25/night.
This place is tucked down an alleyway on conveniently located Seaside Street, and is steps from the Waikiki Trade Center (with Zanzibar and the popular Shack) as well as Duke's Alley (the less appealing, Kuhio Street entrance to the International Marketplace).
In my year of reviewing attractions in Honolulu, I have yet to remark on a hotel, so it's definitely saying something that I would select this particular hostel as one even worth reviewing.