ASIO4ALL and "Home Studio" really don't belong in the same thread title. And looking at the documentation and specs on the Akai, I'm not sure it qualifies to be part of a "studio", either. It has no native ASIO driver, and only supports 44.1kHz x 16-bit audio. The documentation itself recommends using ASIO4ALL if latency is too high, which I have never seen another interface manufacturere do. The documentation doesn't even refer to a native driver type at all, but presumably it will be available as a WDM device if you set that mode in SONAR.
Based on everything I'm seeing, I would strongly recommend you return the Akai to the seller if possible, and get something, anything, that comes with a native ASIO driver. The Akai seems like something that would have come to market 15 years ago, and be selling on eBay for $40 now. There are many superior interfaces out there for the price, though they won't have analog meters - a questionable value - and may only offer two channels.