I'm just wrapping up a 4 night stay here and have to say I've been pleasantly surprised with how nice it's been. My wife and I were here a few years ago as SPG Gold and had a nice stay, but this time has been even better. We were upgraded to an oceanfront suite (essentially two adjoining rooms that were converted to a suite, but nicely appointed and very comfortable). As many others have reported, we had the resort fee waived and were comped buffet breakfast. We also received 15% off dining, which was great. Breakfast is just ok and I would never dream of paying for it (they charge $19), but it's a decent place to grab a bite. The grounds are well cared for and the pool is very family friendly.
We arrived before the weekend and it's worth noting that the vibe here changed dramatically when the weekend arrived as there was a huge influx of locals who stayed the weekend and took up residence at the pool. Not a bad thing...it just got a lot more crowded and loud. There were also some school groups staying here which made for a crazy buffet experience and a high school prom on Saturday night. It's not as bad as it sounds, just more locals than one usually sees at a resort.
Staff have been universally friendly with the exception of a surly valet who seemed to take exception to my decision to self park. It wasn't a big deal, but I'm often amazed at how hotel valets can get away with being so pissy when they are usually the first encounter a guest has. Everyone else gets high marks.
We had three dinners at Rays on the Bay and couldn't get over how surprised we were at how good it was. We don't often eat at resort restaurants when we have other choices, but Rays was actually very good and a great value, especially for a resort. Entrees were mostly $20-30 before our 15% Plat discount. The setting is very nice with great sea views and live entertainment every night. If I remember correctly, the last time we were here, this space was just barren concrete so kudos to the hotel for making good use of it.
While not the nicest of fanciest of places, the Sheraton Kona gets high marks for their Platinum treatment and great value for Platinum guests. I can't think of many US properties that do this much for Plat guests. Between the resort fee, breakfast, and dining discount, we saved over $75 a day, which isn't bad when you're paying $145/night. While I despise places that charge resort fees, I certainly appreciate having it waived! I'll definitely be back.