Need Rec for Dinner certificate Kohala Coast!!
I would have to say Manta at Mauna Kea Beach Resort. Wonderful food, service and view. Very romantic, IMO. Get there early to secure an outdoor table and be in time for sunset. Having done both Manta and Canoe House recently, Manta wins. The view at Canoe is nice, but the food to my husband and me was -eh.
Depending on what you want to spend...but you did say "Celebratory"
'Ulu" at the Four Seasons Hualalai is the top rated restaurant on the west side of the Big Island.It is probably the most expensive as well. Great setting oceanfront
The adjacent Beach Tree Bar and grill also enjoys a lovely setting with somewhat more moderate pricing.
These two at Hualalai would be approx a 25 min drive from ML Point. If you are seeking something closer, Monstera at the Mauna Lani Shops is always a good bet, while the setting is far from stellar, the food is delicious.
Also within the Mauna Lani shops are "Ruth Cris" and " Tommy Bahama" which would be simple enough to get a gift certificate.Perhaps their tastes fall to a more traditional dining experience.
The Canoe House at Mauna Lani Bay Hotel has always had a very good reputation. There is also Roys, and The Hualalai Grille. Some seem to think the Canoe House is slipping these days. I haven't been in years and years. As Indelible mentions there is Merimans Waikoloa, but it is more casual (but also less overpriced.) Hualalai Grille seems to be making the most splash these days, but that could just be what's hot right now. It will probably be hard to go wrong with any of them.