Hey, I was just playin around with booking dot com and noticed Aqua Waikiki Wave hotel on KOHIO street. Not a bad area. I stayed in a hotel up the street from there, in fact, I saw the hotel from the street. Not a bad area, and walking distance actually to OHANA EAST and walking distance to the beaches. I see they were pricing starting at 119 per night. Here is a link, good luck.

Booking.com: Hotel Aqua Waikiki Wave - Honolulu, USA