a couple of things
A couple of thoughts, as we just spent a week in the Hilton Waikoloa last month.
1> The resort is very nice, and although I wouldn't call it an "ocean view", we could at least see the ocean from the lanai on our 2nd-story unit (325=bldg 3, room 25). The sunsets were great, and I suspect there are a few other units that have the same view, but I wouldn't count on getting one of them.
2> If you stay there, I'd recommend walking/riding over to the Hilton Hotel and just wander around...it has a bit of a "Disneyland-ishness" to it, but we found exploring it to be quite fun.
3> The Kings Land property is definitely nicer (you should wander around it also), but we preferred to have our spaciousness on the inside (Waikoloa) as opposed to the outside (Kings Land)...just depends on what you're looking for.