Volcano National Park is a great place to spend time beyond the crowds at the lava pool, so I recommend staying overnight. You can stay at lodging right in the park, I think. You'll want at least five hours to explore the park (mostly doable by car), more if you want to go on scenic walks.
It's cool to see the lava pool glow at night, but it can get really crowded and you might not get a great view. I went back the following morning at sunrise, and there were maybe two other people there (photographers) and a couple of park rangers. I had a great conversation with the park rangers about the volcanoes, and it was a completely different experience from the evening crowds. Watching the sun rise over the caldera is one of those bucket list items you must do.
Then, there are easy walking trails around the national park that should be doable with children. More serious hikes if you can get some time sans kiddos to explore.