To each their own. I work in Honolulu annually and very much prefer staying in downtown.  Getting back to the question at hand, if you're only staying one night in Honolulu and want to stay "near" the port, then downtown is the closest option --- and a good one especially if you prefer visiting historic sites rather than beaching.    Granted, the distance from the pier to Prince Waikiki is only a 15-minute taxi ride or a 30-minute bus ride.  But the Prince also doesn't have a beach.