Diamond Head is a defining feature of the view known to residents and tourists of Waikiki alike. The volcanic tuff cone is a United States State Monument. While part of it serves as a platform for antennas used by the U.S. government and is closed to the public, the crater's proximity to Honolulu's resort hotels and beaches makes the rest of it a popular destination.

A 0.75-mile (1.1-km) hike leads to the edge of the crater's rim. Signs at the trailhead say that the hike takes 1.5–2 hours round-trip, and recommends that hikers bring water. Although not difficult, the signs also say that the hike is not a casual one: the mostly unpaved trail winds over uneven rock, ascends 74 steps, then through a tunnel and up another steep 99 steps. Next is a small lighted tunnel to a narrow spiral staircase (about 30 steps) inside a coastal artillery observation platform built in 1908. From the summit above the observation platform both Waikiki and the Pacific Ocean can be seen in detail.

The volcano is a symbol of the worldwide recognition of the Hawaiian Islands; because of this, Diamond Head is widely used for commercial purposes (see Diamond Head (film) and Diamond Head (band)). Many souvenirs from Hawaii and surf shop logos around the world bear the volcano's distinctive silhouette.