This is a bad movie, but has some redeeming qualities. More specifically, the movie is intentionally hilarious and stupid. This is in stark contrast to another hilarious B Movie (Cool as Ice-aka the infamous Vanilla Ice Movie)that tries to take itself seriously.
In addition, we have young David Hasselhof playing a High School jock named "Boner" who acts like an idiot. All you have to do is watch him try to dance to see what I mean.
To top it off, you have high school cheerleaders (probably played by adults in their 20's-30's :) ) who fool around with a bunch of dudes and plant illegal substances in the cafeteria food to get all of the teachers and their fellow students high.
Oh yeah, I guess there's somewhat of a plot. A land developer is in cohorts with a sleazy school board official. They want to close the school where Boner and the cheerleaders attend (Aloha??) so that the developer can build a mall or something that will make them both rich. The corrupt school board member rigs a school inspection/audit to ensure that the school fails. While Boner is being a "boner", the cheerleaders attempt to make sure that doesn't happen.
However, I apologize in advance for discussing actual plot in a B movie where there are promiscuous cheerleaders and a young David Hasselhoff acting like a fool.