I don't have any kids yet but if I had them and had to choose a SPG property in Honolulu, it would have to be the Sheraton Waikiki. Purely because of the much larger pool which I know the kids would be having a ball of a time there - and as you are a Gold, a better chance of getting a room upgrade given more room inventory facing the ocean.

As a PLT I have stayed at the SW, RH, MS and was upgraded to an oceanfront suite, tower suite and oceanfront room in the tower building respectively .... but at the end of the day, if I had only once choice, I would go back to the RH in an instant (as long as I get that same ocean front room always).