Diamond Head State Monument is a tuff cone formed by subterranean explosions thousands of years ago. Long ago, Hawaiians used the summit for human sacrifices. In 1908 the United States built the trail to the summit as part of the U.S. Army Coastal Artillery defense system. It was designated a National Natural Landmark in 1968. Now it is open to the public as a hike that ends in an amazing view.
If you take a bus there, it will drop you off near the tunnel going into the crater. If you drive in to the parking lot, there's a $5 day use/parking fee.
I rated the level of difficulty here as beginner because of the good paths and steps. But there are hundreds of steps near the top that will give your heart a real work out, so keep that in mind. There are also a couple of long dark tunnels. They suggest that you take a flash light with you. We didn't, and got along ok. There are hand rails to guide you through the tunnels. I did take a bottle of water, though, and am very glad I did. It seemed to be more humid here then down in Waikiki.
Once at the top, the views into the crater and towards Waikiki are amazing. If you plan to take pictures, I'd recommend going up there in the morning so you have better lighting.
Give yourself at least 1.5 hours to make the roundtrip hike! The park closed at 6 when we were there in Aug. I'm not sure how they know everyone is down, or if they just lock you in. We didn't wait to find out.
The first two times we went to Oahu, we didn't do this hike. I'm glad I finally got to. It was well worth the effort.