I was pleasantly surprised when I snorkeled it the first day there. Then we rented tanks from Maui Dreams Dive co and did a leisurely "get aquainted" dive out front.
That house reef is really just a smaller version (not real small either) of the great diving reefs all along the So Kihei coast - All the usual suspects - turtles, several eels (spotted, zebra, yellow margin etc), tons of red pencil urchins, spiny urchins, most of the different butterfly fish (raccoon, milletseed) goat fish, Humuhumunukunukuapua'a, parrots, large unicorn surgeonfish, schools of jacks, and many others.
I love macro life and there was plenty there - saw my first nudibranchs there (REAL excited about that! - imperial, and scrambled egg) and even found a leaf scorpion fish - right on the first mini-wall - south edge of reef. Diverse coral formations. Depths from 12 to 25 feet.
Snorkelers will love the top of the reef - real close to see with great color and good vis (when we were there).
But don't be tempted to stay right there - drive to Ulua beach and Makena Landing and Five Caves. Ulua HAS to be planted right from Diver's heaven - great facilities, big canyons and sand channels, nudibranchs, fucsia flatworms, etc. The shark caves at five caves are sure bets for white tips - easy navigation - just follow the wall.
I hope you are staying on a ground level unit - we were glad we did for gear hauling and drying. Still not easy to hang stuff, and the groundskeeper, Sky, will not allow you to put anything on the grass - all chairs and gear has to be on the concrete patio.
Check out this great site with reviews on Maui:
Scuba Shore Diving Site Listing for: Maui, Hawaiian Islands
There ithe suggested sites nothing even remotely close to this kind of immediate shore access in the Keys (dive boat is a different story).