You may want to re-think using points for any hotel in French Polynesia. Unless you've got tons of points to burn, I don't think it's worth using them for over-inflated award nights at the resorts. The value just isn't there.

Do you have status with any of the hotel chains? You can get some good rates and enjoy upgrades if you've got the right level of status.

We've flown Air Tahiti Nui from LAX to PPT and found economy class to be very comfortable. That will take 75,000 American Airlines AAdvantage miles per ticket. Your wife has enough for one ticket in her account and then you could transfer some SPG points into your account to get the other award ticket. Just be sure to call Air Tahiti Nui and get seating assignments together. Otherwise, you may not be able to get seats together when you check in at the Air Tahiti desk in LAX.

To check availability, get a subscription to ExpertFlyer.com. I did a check for you and there is availability on TN7 (LAX-PPT) on June 10 (1 first class seat and six economy available) and you could return on June 17 on TN101 (1 first class seat and four economy available).

Of course, with this air schedule you'll have a forced overnight in Tahiti upon arrival. We recently stayed at the InterContinental Tahiti and it was perfect to sleep off the jet lag.

I believe that Hawaiian Airlines only flies direct from HNL to PPT once a week so you'd need to time that right. ExpertFlyer shows the following availability:
HA481 HNL–PPT on June 11, 2011 (7 economy seats available); again, you'll have a forced overnight stay in Tahiti
HA482 PPT-HNL on June 18, 2011 (7 economy seats available)

Bora Bora is gorgeous so you'll have a fantastic trip no matter how you get there or where you stay. Good luck with your plans!