An honest filter, because this is not a walk for everyone.
Do it if: you have checked the tide, you have reef shoes, you can swim confidently, the sea is flat, you are travelling light and you have time in hand. Summer, from roughly May to September, is the season when all of that lines up most reliably.
Do not do it if: you have small children who cannot swim, you are carrying a camera or a phone you care about, there is any surf on the reef, the tide is rising, or you are in a hurry. There is no shame in walking down to the water, looking at it, and having a swim at Mālaekahana instead.
The good compromise: Mālaekahana itself is an excellent beach with real shade, restrooms and calm swimming, and you can see Mokuʻauia perfectly well from the sand. Plenty of people plan the crossing, arrive, look at the state of the water and stay put. That is a correct decision, not a failed one.
If you want to be on the water rather than in it, kayak and SUP hire operates elsewhere on this coast and paddling out is a legitimate alternative — though the same sanctuary rules apply on landing and the same surf conditions apply to getting back.
Nobody is checking up on you out there. That is the appeal and it is also the risk.