For a 1-night stay, IC will not be hard to beat for Hilton. IC is a fat cat which never had lots of local competition.

Everybody's circumstances are different, but I personally would not stay in Tahiti multiple nights as my 'final' destination for a trip - it's just a stopover en route to greener pastures. And if I am staying only one night, my standards are lower so I will not care if Hilton does not have overwater villas. Anyway IC has never been the most generous with elites and did not make a habit of upgrading elites to such rooms anyway.