I have been to Molokai and found it quite nice. I did a writeup for a FlyerTalk community and also posted a copy at my own trip report site. Trip 4 has the Molokai trip at http://trip.myhawaiiansite.com.

Molokai is quite laid back. I would compare it to a town in the midwest where if you happened to show up there, the people would be friendly, but you would not know anyone and would have to make your own entertainment. It is a far cry from a hot-bed of activity like Kauai :-)

If you plan your trip right you may be surprised as I was to see thousands of visitors on the island for the outrigger races. Other than that, you can explore the small island at your leisure and perhaps make a few friends.

I didn't see any souvenier shops and there really are few places to shop anyway.

I suggest the island for those who want to unwind and relax. The cliffs are very high and the countryside quite beautiful. I'll post the photos of the cliffs at http://myhawaiiansite.com/molokai.htm when I find them. There are some other island photos there to give you an idea of the terrain.

I didn't get to hike to the falls as another poster above mentioned. I did get a chance to drive the one lane road to the east end of the island and the beach there. Be VERY CAREFUL as you round any curve on that road :-)