It depends on what is important to you. You can be on the beach in the Outrigger Waikiki Beach, Outrigger Reef, Moana Surfrider, almost on the beach in the Hyatt Regency (the beach is across the street, unobstructed), on the Marina in the Prince Waikiki (lovely business hotel, great dining) and Halepuna, a cheaper version of Halekulani.
In the map below you can see, right to left, the octagonal twin towers of the Hyatt, then Moana Outrigger WB and a bit of the Royal Hawaiian.
https://maps.app.goo.gl/AC8cYuk67f1kLAoV8
In this map are Halekulani, Halepuna and Outrigger Reef.
https://maps.app.goo.gl/E2d4gMftYxjXchby5
Halekulani is where I stay usually, but I can't recall the last time I got in there for under $700 a night.