We just did the luau an hour ago and it was fabulous. The venue is very intimate. Everyone has good seats, which I'm sure you'll read about if you read through many of the posts on luaus here on this forum. The thing that sets it apart is the service - it's very organized and thorough. Our server was fantastic. And the food - the food was so good!
Drinks were just OK - heavy handed pours so can't complain. Basic kind of wedding bar service - bartenders are trying to get you through quickly. The prices for drinks were around $13-15 for cocktails, $6 for soft drinks, and $5 for bottled water (glasses of water are poured at the table). VIP includes all drinks in the ticket price. Coffee/tea/juices (2 different kinds) are included for all and set up on a separate buffet station. I can't imagine not liking anything on the buffet. Lots of choices to choose from including traditional pork (with the head on it) and prime rib. The desserts were great - amazing brownies, banana bread pudding with delicious sauce, lots of traditional / authentic desserts like guava cake, huapia (coconut).Traditional Disney style - folks with allergies are taken around individually to the food stations and cast members thoroughly discuss allergies and what is/is not safe.
The luau was interesting - the story is specific to the region that Aulani is located in. They talked about Ewa (historical & present day) and Ko Olina, as well as Ka'ena Point - which is NW of us. I liked how it was specific to this region. I was anticipating a luau about all the Pacific Islands, but it was cool that they catered it to this locaton. Nice touches for the kids here & there. Length of time was perfect.
We splurged for VIP because we're a party of all adults - we all drink - and also we wanted to sit close to the stage. One and done kind of thing - I don't know when we'll be back to Hawaii or when we'll do a luau again. We liked being able to get in first & also eat first. But like I said, there's no bad seat - the venue is very small and intimate.
The one thing I didn't like was all the screaming children - but parents were pretty good at taking their screaming child out, etc. I mean, it's Disney so we should be used to screaming kids, right? I'm not sure if there were more kids here at this luau than other luaus, but I imagine if we went to another luau - if it weren't screaming kids, it'd be drunk adults, or folks standing up and taking photos with flash.... there's always something and it's totally dependent on how courteous your fellow audience members are.
My parents did Hilton Hawaiian Village's luau & they said the food was really bad (salty), it was on the rooftop of the parking garage so the ambience was worse, and it was also much, much more crowded. They said Disney wins hands down. Hope this helps.