We spent 5 nights at Cocotal in 03/2013. We were picked up at the San Pedro airport and dropped off right at the doorstep of our lovely little cabana, #5. I say little cabana, but in reality the space was more than ample. Inside was a well outfitted kitchen with refrigerator, clean bathroom, and comfortable king-sized bed (plus a television that got very little use). Cabana #5 was located halfway between the road and the beach on the large very nicely maintained property, a short step to either the oceanside or lagoon docks.
Ernesto, who is on-site from 8:30 - 5:00, was a great concierge. He hooked us up with 1/2 day snorkeling trips (Mexico Rocks one day, Hol Chan the next), water taxis to town, restaurant recommendations, and of course daily use of the bikes and kayak. I think our bike rides up the beach to Sundivers (bar and restaurant) and down to Jolly Rogers (bar and restaurant) were some of our best times...good food and beachside Belikins. Also loved kayaking out to the reef where we tied up in chest-high water for some easy, unguided snorkeling.
Long story short? Highly recommended! A great introduction to Belize and Ambergris Caye, in my humble opinion.
One recommendation? If you're getting picked up by Cocotal's appointed taxi, if you're looking to buy any fruit or veg, be sure to stop by the stand next door to the liquor store...Much better selection of fresh stuff than the grocery. (The grocery did offer some terrific fresh salsa and tortillas.)