We just came back from two weeks in Hawaii and spent one week on the Big Island.
On the Hilo side of the island, your hotel options are much more limited. No major chains on that side. We did want to spend a few days on the east side to do Volcano National Park, Mauna Kea and Waipo Valley... so I booked three nights via Priceline. Ended out getting the Hilo Seaside for approximately $35 a night. Nothing fancy by any means, but it met our needs since we were usually out by 7 am and did not get back until after dark.
To me, it makes for a very long day if you have to do the long trek from the Kona/Waikoloa area to Volcano National Park. I would much rather spend that time exploring vs driving to get there.