I would highly recommend Waikoloa Village . We were in Mauni Lani and liked it but Waikoloa had a lot to offer. There are nice condos in the Fairway villas that are really reasonable. We had a 3 bedroom that was beatiful in Mauni Lani which we rented thru Beach and Island Rentals thru VRBO. Here is the listing
http://www.vrbo.com/165385.
Have fun.