You can try any of the Ohana Hotels, http://www.ohanahotels.com/ as they are good, but fairly low cost, catering mostly to locals and budget travellers.
A lot of our commuting pilots use this site for inexpensive hotels when they only need a night or two in the islands between trips. They're not waterfront luxury hotels, but they are about as inexpensive as you can get in Waikiki.
Could this be because you got a call for an interview?
at cal, we use the ohana east...nice hotel and about 1 block from wakiki beach..several other airlines layover there as well,,give them a call and good luck!
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