Hi Armanda,
Thank you so much for visiting the Disney Parks Moms Panel with your question. Traveling with a large group can be so much fun, and
Disney's Polynesian Villas & Bungalows is a truly beautiful resort with an amazing location. Since the deluxe studios at this resort can sleep up to five guests, you choice for accommodations is perfect.
The Lake View Deluxe Studios at Disney's Polynesian Villas & Bungalows are located in the Moorea longhouse. While this longhouse is a little further removed from the Great Ceremonial House, I do not find the resort to be too spread out, so the walk to the Lava Pool and restaurants should be fine. A benefit of being in the Moorea longhouse is that you are very close to the Ticket and Transportation Center, so if you are heading to Epcot, instead of taking the monorail from Disney's Polynesian Villas & Bungalows and needing to transfer monorails at the Ticket and Transportation Center, you can instead walk to the Ticket and Transportation Center and only need to take one monorail.
Some guests do prefer accommodations on a higher floor, or in a particular location. Please note that you can make requests such as these; however, while Disney will do their best to honor all requests, they cannot be guaranteed.
There is a wonderful unofficial website at tikimanpages.com which has a tremendous amount of information about Disney's Polynesian Villas & Bungalows.
I hope that this information is helpful for you, Armanda. Have a wonderful time planning your Disney vacation, and please do not hesitate to ask if you have any further questions.