ACR WDB ALT DEVIATION OVERSHOT DURING DESCENT INTO HNL.

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CAPT'S FIRST FLT FOLLOWING IOE AND SEVERAL WKS NOT FLYING. S/O'S FIRST FLT AS S/O ON WDB TYPE X FOLLOWING EXTENSIVE EXPERIENCE AS WDB TYPE Y. THIRD SEAT IRR F/O EXPERIENCED AND CURRENT ON TYPE. FOLLOWING VECTORS TO INTERCEPT HNL 8L ILS; 'CLRED FOR THE ILS; MAINTAIN 3000' TILL ESTABLISHED.' DSCNT CONTINUED THROUGH 3000' ON INTERCEPT HDG. F/O ANNOUNCED ERROR AND SUGGESTED CLB BACK TO 3000'. APCH CTLR ANNOUNCED ERROR. CAPT ELECTED TO MAINTAIN ALT SINCE HE NOW HAD G/S RECEPTION. F/O LATE TUNING #2 VHF NAV TO ILS ACCOUNT TUNED TO HNL VOR FOR DME. NO ALT ALERT WARNING NOTED ALTHOUGH 3000' SELECTED. F/O LATE CALLING ALT ERROR ACCOUNT HEAVY WORKLOAD AT THIS POINT IN FLT: TALKING TO APCH CTL; SETTING HDGS; AIRSPDS; ALTS; FLAPS; RUNNING CHKLIST WITH S/O; MONITORING ACFT POS VIA HNL VOR DME; TUNING VHF NAV RECEIVERS; ATTEMPTING TO MONITOR AND ASSIST NEW CAPT AND S/O WITH THEIR DUTIES; CONCERN OVER BARBERS POINT NAS CTL ZONE. HNL APCH CTL; WHILE POINTING OUT ALT ERROR; ISSUED NO INSTRUCTION TO CLB. CONVERSATION WITH APCH CTL SUPVR ON FOLLOWING DAY INDICATED NO SAFETY PROB ACCOUNT OPS NOT BEING CONDUCTED AT BARBERS POINT NAS; PRESUMABLY ACCOUNT WX. RECOMMENDATION: 1) INSTALL DME ON HNL 8L ILS. 2) LIMIT CREW COMPLIMENT TO ONE INEXPERIENCED OR LESS THAN CURRENT CREW MEMBER. 3) ELIMINATE IF POSSIBLE EMISSION OF FALSE ILS G/S SIGNALS ABOVE AND BELOW NORMAL G/S; AND/OR TRAIN CREWS IN SIMULATOR FOR FALSE G/S RECEPTION AND RECOGNITION. (CAPT REJECTED F/O'S SUGGESTION OF POSSIBLE FALSE G/S BECAUSE HE 'HAD NEVER SEEN ONE.' F/O HAS; ON HNL 8L ILS; ON STEEP VISUAL APCH. WHETHER OR NOT OUR INITIAL G/S RECEPTION WAS VALID COULD NEITHER BE AGREED UPON NOR DETERMINED BY F/O.