We stayed at Turtle Bay and Waikoloa Village for six award nights each last August. Turtle Bay is a marginal hotel with a great location. It is located in a fairly remote area on a point and is surrounded by the sea on three sides. It's also got some nice looking golf courses on-site (I don't play). They were beginning badly needed renovations but I have no idea whether or not these are completed. The hotel and pools are not very special and there a big hunks of concrete missing from the building. It is so close to the sea in an area that has big waves in the winter that I guess the building has been damaged over the years.

Waikoloa Village is incredible, especially for kids. Food is expensive. Getting Towers lounge access saved us saved us probably $100-$150/day on food.

We spent the last day at the Hilton Hawaiian Village. The let us use a courtesy room at the end of the day to change and shower before a late flight to SFO based on our stay at Turtle Bay (and maybe Gold status). It kind-of made me think that this would have been a better choice than Turtle Bay.

Turtle Bay is good if you want quiet and out-of-way. There maybe more action during the winter when the surf is up.

Since I have two small children, I would return to Waikoloa as a first choice, Hawaiian Village second, and Turtle Bay a distant third. I also would check to see if there are any new choices with Hiltons aquisition of Promus.