Parking in the Waikiki area can be a real challenge if you want to save money.
If you are staying in Waikiki, you can opt to park at your hotel or condo, and accept the higher rates per day to park there. Some condos do have free parking - take advantage of that option if you are just planning on visiting locations within Waikiki during the day, and either walk or take public transit.
If you are planning on just staying in Waikiki and spending most of your time at the beach, you probably do not need to rent a car for your entire trip - you can rent a car for the day on the days you plan to tour other areas of the island, and just return the car the same evening before the rental car company closes. Keep in mind, most of the rental car locations in Waikiki close at 7 or 8 pm, and they do not accept late returns. Go to www.discountusacarrental.com to book your car.
Some options for parking in the Waikiki area:
The Royal Hawaiian Shopping Center parking lot is located in the middle of Waikiki. As long as you get your parking ticket validated by a merchant there by shopping for something, parking is free for the first hour, and then $1.00 per hour for the next 3 hours. The maximum allowable time is 4 hours - which will usually work if you are planning on doing a little shopping and having lunch.
The Ross store in Waikiki also has 2 hours of free parking if you buy something in the store - get validated.
The Honolulu Zoo has parking meters at 151 Kapahulu Avenue, parking is $1/hour, but you do have to feed the meters. The Waikiki Shell lot is across the street from the zoo on Monsarrat Avenue, and has free parking. There is also free parking on Monsarrat Avenue. There is also metered parking around Kapiolani Park where bot the Zoo and the Shell are located. Parking is around the clock and the rate is 25 cents per half-hour. These locations can get busy, especially during festivals, and you may have to drive around to find a spot, but the prices are good.
The King's Village Shops at 131 Kaiulani Avenue are open daily 6 am to midnight and charge a $10 flat rate to park. If your car is left over night, they will charge you an additional $10.
If you are looking for a dinner and walk on the beach, the Outrigger Reef on the Beach at 2169 Kalia Road has valet parking only, and their rate for 4 hours with restaurant validation is $6. Other rates would apply for just parking at this location.
The Waikiki Banyan at 201 Ohua Avenue has a rate of $15 per 24 hour day, $80/week, or $140/month - this is a good rate. And they have In/Out privileges.
The Hilton Hawaiian Village is located behind the Illikai and the Hilton lagoon, and is free. It closes at 10:30 pm.
There is free parking along the Ala Wai Canal not too far from the Ala Moana Shopping Centre.
http://waikikiimprovement.com/info - here is a list of Waikiki parking garages and their rates.
Never leave any valuables in your vehicle. Don't forget to make a note of where you are parked - it can be easy to forget where in the lot, or even what lot you parked in. And rental cars can all look the same. Some lots take cash only, so make sure you do carry cash.
Rates are subject to change at any time, so best to check the rate again before you use any of these spots.