Just returned from Cocoa Island and the experience was better than I expected.
Rooms/Villas/Resort:
We stayed in the Loft Villa, which was fabulous: great ocean view with a the reef right in front villa, huge bathroom, outdoor shower and a second bathroom in the bedroom on the second floor. The Villa's are somewhat close together, but you do get a sense of privacy, since the outdoor areas are fenced (tastefully) from your neighbors. The one complain I would have is the rooms are not very well insulated from the elements. It was the rainy season, so it was quite windy and rained heavily on occasion, and I was woken up several times by either the wind noise, rain and/or from the waves crashing against the base of our villa. But it's probably like that with most resorts in the Maldives.
We considered the one bedroom villa, which the staff showed us, but the villa was pretty much the same (both in decor & size) the only advantage was that it was more secluded, but my advice, same the money and go for the Loft Villa.
Cocoa Island is one of the smaller islands/resort, it's only 350m long and 100-150m wide. All the Villas/Rooms are over the water. The tress are not as dense as on other islands, which means there are a lot less insects, esp mosquitos.
Apparently the best time to go is from Jan-April, dry season, from May onwards is rainy season, three of the five days was really sunny, one day was partly cloudy and one day cloudy the whole day. Still wasn't that bad since the temperture was quite pleasant with the wind. However will want to come back in the dry season as the water is a lot calmer and clearer for diving.
Service/Food:
The service was not bad, everyone was quite friendly and was quite helpful, but sometime not that attentive or polished when it come to customer service. A for effort but C for execution. But in general did not detract from our stay at all. The one exception was Taka-san our dive master - he was exceptional, extremely friendly, helpful (taught my partner to scuba dive, no easy feat) and by the end of our trip was more like a new friend.
The food is where the biggest surprise was. We often hear how the food in the Maldives was so-so or even bad, since you're stuck on the island and you have to eat what ever stuff the feed you. But to the delight of our palates, the food was very good, an eclectic mix of western, south-east asian, & indian. Oh and the portions were quite generous.
Activities;
Scuba Diving, apparently Cocoa Island is suppose to have one of the best diving areas around maldives. I went on 5 dives, including an area where the manta ray swim around you (getting their gills cleaned by cleaner fishes) and in another dive we were surrounded by 5-7 white tips and one leopard shark.
The snorkeling was pretty decent too, as mentioned there is a reef just about 10 meters from our villa, lots of fishes, occasional black-tip shark and sting-ray, and trutles (one called 'Tripod', because it was missing a flipper).
There was free yoga classes at 5 pm every day and a pretty decent spa (i just went for one massage). And we played beach volley ball with the staff everyday, which was quite fun, despite they were so much better than us). There is also a pool, but i think we were the only people that actually swam in it.
Anyway, I know there a lot of other really nice resorts in the Maldives, but I think we'll likely go back to Cocoa Island since such a great expereince for the both of us.