Just got back from a 2 week trip in Kauai. It was amazing!!! Shearwater is all ocean view. Cliff's club buildings 5-9 are all ocean view. 4 may also be. buildings 1-3 are "Cliff's Resort" officially, so you want to exchange into Cliff's Club for an ocean view. Most of their units are 1 bedroom. Really nice there - only issue is no air conditioning.
I don't know of any Princeville units with ocean view other than Shearwater and Cliff's club.
In summer, the north coast beaches by princeville are AMAZING!!! Be sure to get "The Ultimate Kauai Guidebook: Kauai Revealed." Their app coordinates with google maps to direct you to all the "Secret Gems." That was really helpful for Tunnels Beach, which is difficult to find.
DeniseM and a few others love Kauai Beach Villas ocean front units - but I don't know if you can exchange into those. That resort is not in Princeville.
Many people talk about Lawai Beach Resort - you have to be particular about which building in order to get a good view unit. That's in the south end of the island.
Bali Hai Villas in Princeville is fairly large, so may have more activities if that is what you are looking for, but I don't think any units have ocean view. The 2 bedroom units have been upgraded - with stainless kitchen appliances and granite counters. I also heard that the Alii Kai units (all 2 bedrooms, none ocean view if the GPR units) have also been upgraded.
Good luck with the exchange!! Kauai is my favorite of the three islands I've been to. Not as much nightlife, but the beauty of the island is just amazing! Don't miss the Na Pali coast - the hike is crazy amazing!