I didn't see it mentioned on here so wanted to add a recommendation to go see the ladyboy cabaret show at Blue Dragon bar in Ao Nang.
My wife and I stumbled across it and both really enjoyed the show - beautiful costumes and fun dancing and lip syncing. The hosts were really welcoming and we were happy to find an entertaining new nightlife option in Ao Nang.
I think shows run for an hour at 9 and at 11. It's located at Center Point, near burger king, on the third floor.