We shared a 2 bedroom/2 bath oceanfront condo with another couple. I always wondered if it was worth the extra money for oceanfront, but it absolutely is (at least for this property). Our lanai directly faced the ocean, and we had floor to ceiling sliding glass doors on the two outside walls of the condo.
I was a little nervous because it seems like a crapshoot when you book the Whaler since each unit is individually owned, but I can tell you that #602 in Tower 1 was worth every penny. We booked through Costco Travel so we didn't pay published rates.
I guess the only downside is the pool is not as good as I'm guessing pools at the hotel resorts are, and there was no poolside bar or anything, but the condo also felt more like "home" than a hotel does. I don't know that getting a condo would really be cost effective if it were just the two of us, but it is an excellent choice when traveling with other people, and we were all able to hang out in the living room as opposed to one couple's hotel room.
Kaanapali Beach itself is a very nice location.More