You can find a luau almost every night of the week, but not every luau is offered every night. The Disney luau goes a little unnoticed due to its size and the fact that it caters mainly to resort guests, but if you have small children (say 9 years old or younger) it's hard to beat. Located in Kapolei behind an industrial zone (it's on the beach once you get back there), I would call this the economical luau to go. Enjoying a Hawaiian luau is a great activity to plan your vacation, especially for the first-time visitor.
We try to keep up with luau schedules, prices and other useful information, which is quite a challenge considering that luau operators can change important aspects without notice. Please check directly with the luau of your choice to determine the seating process and their advice on when to arrive. It is not attached to a resort, so the grounds dedicated to the luau are built for people to come in and out expertly. It's also a more expensive option if you just want a luau party and you're not interested in getting to know the 6 villages on the island.
While I've been to a lot of luaus, I haven't gone to ALL of them, but I've done extensive research and I definitely have a “best luaus on the oahu list” and a “worst luaus on the Oahu list”. The patrons of the crowd flow well and are well built (for example, in many luaus you have to compete for a place to see the pig unearthed, but here they have a small amphitheater built so that everyone who wants to can have a privileged view. In addition, if you need a guided tour and want to know more about this attraction, you can also opt for tickets to the Polynesian cultural center. The price of a luau usually includes a buffet dinner, drinks, a Polynesian dance and music show, and gratuities.
So how do I know I don't recommend a specific luau that I've never been to? Well, I've been to enough luaus to know what I like and what I don't like. Waikiki Starlight Luau also includes an open buffet, as well as games, hula classes and even a tattoo station.