In 2010 we had two friends who stayed at Mondo's and absolutely swore that it was the best place in the world. So on a recent trip to Bocas there was nowhere else that we were going to stay. Mondo's does look like it's falling apart from the inside out but I guess this also gives the place a bit of atmosphere. We stayed in the air conditioned dorm room which was next door to the main building with it's own little garden (bench and trees), kitchen area, bathroom and friendly neighbour, Larry. Larry was actually great for random info (e.g. which beaches to go to, how to get there and also he has a great knowledge of star constellations and planets!) and also for helping when the water went off (which was a problem on the island at the time and not something directly to do with Mondo's).
The air conditioned dorm was fine, a bit small for 8 beds but absolutely fine and you can't expect much for the cheap price. Most of the time however when the room was full, the temperature didn't really drop and it might have been better with just fans and not the air con unit. The rooms are cool with writing everywhere and are quiet too.
Anyway, breakfast was free and there's a nice big table to sit at in reception. The bar in Mondo's is also very cool but very mellow. The walls are plastered with flyers of previous party nights held at the hostel with loads of different themes, but this doesn't seem to happen anymore. One night the bar did have an awesome DJ which was fun but still the attitude was mellow and the bar was almost empty by 12.
The staff were kind of useful and kind of friendly sometimes. Sometimes they were good fun and good to talk to, but other times they were a bit stand off-ish and not the kind of people you thought you could bother with questions. I think if you visit Mondo's and get in with the staff, you could have an awesome time. Otherwise you're left half the time thinking they're potentially a bit arrogant.
I almost don't want to say anything too negative in the review for this place because I imagine that it once was amazing and with a bit more effort, could be amazing again. If I went to Bocas again I imagine I'd either stay here, or check out one of the other hostels on the main street.
A room with a fan might be better than the one with air con.
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This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.