Agreed on Two Step for snorkeling. Bring a fiver for the local-church-run parking lot and save yourself a hike.
Kahalu'u beach park also has some decent snorkeling, including at times turtles. I know people who are advanced swimmers who swim out from beside the Sheraton (or whatever the hotel is now) at Keauhou, on the side nearest the marina. They regularly get photos of turtles, mantas, and more.
The night snorkel trips from the harbor there are awesome. There are usually giant manta rays that feed right under you as you lie there hanging onto a floating ladder with lights. Hopefully they're doing those trips again...
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