Bedrooms are perfect, bathroom is fine as well, the only thing that can be a bit disturbing is kitchen which is pretty dark (but it's fine, since it's beautiful out there and it makes you want to leave the place and explore the city :)). At the beginning of our stay we experienced some issues with wifi (we wanted to work in 2 separate bedrooms, both me and my husband, and the connection was too weak). We reported that to Luisa and she organized much better connection and a dedicated router super quickly, which was completely sufficient for remote work for 2 people.
The apartment is generally well equipped, the washing machine is there, you migth miss an oven if you're staying for a bit longer, but there's a microwave which was a plus for us.
Location is perfect - you're in the center of Funchal, but you do not experience a lot of tourists and it gets quickly calm in the evenings. The owners of the restaurant downstairs are super friendly and you really can feel welcomed there. Luisa was perfect as a host, super responsive and caring.