I had read about this place on happycow and have stopped in on two occasions. Was just here in December 2012, and here's my The Dragon's Den Herb Shop review update.
It's a tiny little shop tucked away in a little alley just off on the the 2 main roads in Makawao town center. An array of health supplements, natural health products, and homeopathic remedies stand on shelves up the walls, and behind the main counter/register is an assortment of loose herbs and tea leaves in glass jars for sale by weight. The owner sometimes manages the store and is there to help with creating herbal formulas and answer questions.
There's no food or fresh produce. The entrance is not on the main street but off to the side, so you have to look for it.