My son and I ended up here after a Segway tour. It is 10-15 minutes, by car, east of Lucaya. The food is normal Bahamian beach fare-- conch, burgers, chicken, but the banana bread is really, really good. It is a mini-loaf (baby loaf?), for $5, baked to order, so it comes out piping hot. Moist and delicious! It was so good that I went back the next day by myself and ordered 3 loaves (to share!) and some peas and rice (not to share). The staff was great. I went close to closing time and wanted to do some shell scavenging way off the beach. They took my bread out of the oven right before they locked up and wrapped it to keep it hot while I was out in the bay. Although the restaurant was dark when I came out of the water an hour after they closed, the bread was still hot.
The atmosphere rocks with both indoor and outdoor seating. Outdoor seating has both shaded and full-sun picnic tables. The seating deck is raised and sticks right out toward the water. There are also some beach chairs out on the sand, but not too many. Banana Bay is a great beach. Very shallow for at least 75 yards. Great for everyone. Really peaceful and absolutely beautiful. A great place to spend an afternoon. They close at 5pm, at least in the summer.