Regarding the "Sensation': What causes the edges of the leaves to become brown? How often should it be watered; does it require a lot of light?

Regarding the "Mauna Loa": I have this Peace Lily and it actually has several white flowers on it throughout the year. Even now in December, I have several bloom. Can you explain this since it is suppose to bloom Apr thru Oct.

There can be more than one reason tips can turn brown. The plant can be, over-watered, under-watered, low humidity, too hot, wrong light, use of hard-water, or given too much fertilizer, or any combination.
Some plants like the peace lily, spider and a few others are susceptible to brown tips. Using rain or distilled water can help.
There really is no set rule for when they can flower, if they are happy enough, they will set blooms, so yours sounds very happy in that respect!