This list is by not exhaustive; I will probably think of several more as soon as my head hits the pillow this morning. 
However, here is at least a partial list of B-movies, bombs, and otaku-fodder that I would gladly miss a few hours of sleep to watch again:
A 1993 Schwarzennegger vehicle. I actually don’t like putting this on a “guilty pleasure” list–I think it’s really a brilliant film which was vastly under-rated.
Actually based on a series of video shorts produced for VH1. I have absolutely NO reason to like this movie–but I think it is hilarious, nonetheless.
Metalstorm: The Destruction of Jared-Syn
Call it cheesy if you like (most people do)–this was a bold and original science-fiction piece. I would rather see a Metalstorm 2 than Furious 7.
Ditto for this often-unknown fantasy gem. Before you watch The Lord of the Rings again, watch this. Then see if anything seems familiar about Legolas…
Vulgar, profane, over-the-top in every possible way. Also surprisingly intelligent, if you can see past the deliberate exploitationism.
Eko Eko Azaraku (“Eko Eko Azarak”)
Sometimes known as The Wizard of Darkness, this manga-based Japanese live-action movie series combines Wiccan and OTO magic with Lovecraftian mythology (and just a bit of martial arts).
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I have so many guilty pleasure movies too, including The Mummy, Death Race, Legion, and The Langoliers. I’ve never heard of Eko Eko Azarak, as I don’t really watch many foreign films or anime, but I love the Lovecraft mythos. I may have to check that one out.
It’s a bit older–I think it came out ’96.