Aqua Resorts and Hotels have taken Waikiki by storm. Their specialty is picking up old, tired properties, renovating them and bringing the ambience into the 21st century (modern decor, free high-speed Internet in every room, flatscreen TVs), and generally creating a fabulous boutique inn where there once was an over-the-hill high-rise. This property, built in 1962 and last renovated in 1992, has been managed by a host of companies (from Aston to ResortQuest), but in January 2007, the Aqua people took over. Thank goodness. As we went to press, the renovation teams were swarming over this once-quaint oasis, completely ripping out every thing in every room (furniture, drapes, carpet, bathroom fixtures), and gutting the rooms completely before waving the magic wand and turning this old toad of a hotel into a hip, modern prince of a place. The rates quoted are during construction; post-construction rates will likely rise.