We stayed on Isla del Pirata for two nights and three days in July 2012 and I'm struggling to decided what I thought of it.
First the good; the place is beautiful, we had a 'suite' which had direct access to the sea and, as you can see from the photo's, the view from the room and the private balcony is perfect. There are three type's of room and the basics one, though cheaper have several drawbacks, for example they are a lot smaller and don't have access to the sea which means you have to find a spot yourself on what is a fairly small island.
The sea is warm, though watch out for the current that can get very strong near the corners of the island. Each day the island, as well as hosting those staying, has a day boat that comes from the mainland. This boat can hold, at most, 50 people and so, potentially you are sharing the island with 50 other day trippers as well as those staying. I did n't find this a problem, we had our little balcony on the sea and even at it's busiest - the day we arrived the boat was full - the most I saw were 10 other people in the water.
We stayed from Monday to Wednesday and were given our room upon arrival and allowed to keep it until 1 hour before leaving. This also happened to the other couple how arrived with us. Tuesday was definitely the quietist day with only 29 people on the day trip and 8 people staying on the island over night.
The food was good. Fresh fish every day and they also catered for people who did n't want this. The website notes that meals are included but does n't state the hotel is all inclusive (though on the phone I believe that was mentioned). It is NOT all inclusive. Beer is $3000-4000, cocktails are $10,000 which I thought was fairly reasonable as I paid more in some places in Caratgena (a beer in the supermarket is $1300 for reference). I would advise you to take some water, we took 5 x 1.5l bottles for three days and, with other drinks, that was sufficient. You get drinks (non-alcoholic) with breakfast, lunch and dinner as well as a cocktail in the evening.
Every day when people arrive they are given a couple of activities to participate in should they wish. You could go snorkelling and / or to the Aquarium. I've dived a lot in Egypt and honestly there is n't much round the island to see; some pipefish, a few angel fish and thats about it. If you have a snorkel mask bring it definitely (swim up by the pier the shoals of fish as fun to watch) but renting one if $20,000 or the guiding activity is $40,000 which personally I doubt is worth it - though as I say I did n't do it. With regard to the aquarium trip I didn't go so can't comment but the reason I did n't go is the reviews and things I've heard about it; google it or talk to other who have been.
One things to mention; the island has no beaches, just sandy areas to sit which are raised above the sea. I did n't find this a problem.
And now for the bad:
So far so good, excellent location, good food and friendly staff. Now we have the down side. If I had walked in to a room like the one we had in any other situation I would have been demanding a refund and probably compensation. These are not suite's not junior suites, they are rooms and slightly bigger rooms with better access to the sea. But the whole place is desperately tired and in need or refurbishment. I've put some pictures below; the concrete is cracked, the bathroom is a nightmare. The pictures of the tiles are n't dirty - the maid cleaned every day - they're just old and chipped and cracked. I appreciate it's a place by the sea and in a hot climate but we did have a bit of a cockroach problem which I think that partly down to the cracks and places they can hide. The second day we had an ant problem as they'd made a colony on one of the beds.
The other annoyance is the vendors. The hotel allows people to come and try to sell you things and, when the island is busy it can get very, very annoying. Head phones on, sunglasses on and dosing in the sun - yep they'll wake you up to sell you beads, fish, anything. A practice that should be stopped.
Looking at the pictures on the website I'm guessing they're fairly old as none of the concrete or walls are cracked or paint is peeling.
So in summary, if you are in the right frame of mind I would say book a suite and go, the island is lovely, the sea is warm and blue and you'll only spend a small amount of time sleeping in the room. I DID have a fantastic time here, the annoyances and the room really pale into insignificance when you've spent all day messing about is a light blue sea under the hot sun and you're just about to eat a lovely fresh meal. This has to be tempered with the cost though; I would expect a room that bad to be less that £20 (US$31, $56,000 Colombian) a night in Europe. For reference we paid about $1.2m (Colombian) for 2 nights / 3 days (£424 / US$666)
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.