One concern about the Ilikai is not only the noise coming from its own construction, but from that coming from the Waikikian Timeshare that Hilton's building right next door. If you don't get a room facing away from the construction, it could be both an eyesore and a noisecausing headache.
Also, Hilton's doing work on the lagoon that fronts the Ilikai. So if beach access is what you're really desiring, I'd stay clear.