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Overwater bungalows are the ultimate dream getaway, but they’re often associated with ultra-luxury price tags. Luckily, not every villa on stilts will break the bank. With careful planning, you can score breathtaking accommodations without going overboard on your budget.
In this guide, we’ve rounded up the best $500 per night overwater bungalows that offer serious bang for your buck—think glass floors, turquoise waters, and five-star service. Whether you’re planning a honeymoon, anniversary, or a once-in-a-lifetime escape, these villas strike the perfect balance between luxury and value.
But before we go any further, let’s talk about why we are here. We started Cheap Overwater Bungalows to fill a need that we desperately wanted. And that need was a full list of every overwater bungalow in the world, sorted from cheapest to most expensive.
From there, we realized that we could apply our special algorithm to our list to find deals and anomaly pricing. And now we can pass those savings on to you via our weekly cheap overwater bungalow deals newsletter. So be sure to sign up for that before you go any farther.
The Maldives is King
If you’re searching for affordable luxury, look no further than the Maldives. This iconic destination is surprisingly home to many of the best $500 per night overwater bungalows in the world. While the Maldives boasts ultra-luxe resorts like Soneva Jani and The St. Regis, it also offers a sweet spot of properties where you get premium amenities at a mid-tier price point.
Resorts like Reethi Beach, Fihalhohi Island Resort, and Sun Siyam Olhuveli routinely offer overwater villas around the $500 mark—sometimes even less during shoulder season. The key is booking early, watching for deals, and being flexible with dates.
The List of the Best
Here’s our curated list of the best $500 per night overwater bungalows that deliver crystal-clear lagoons, dreamy sunsets, and incredible value:
Noku Maldives – $500+ Per Night
Book here if you care about: Small luxury private island resort with a focus on watersports
Immerse yourself in the local culture of Noonu Atoll in the Maldives, at Noku Maldives, a haven for travelers. Private island resort with a dive center and 2 styles of overwater bungalows. The best time to visit is during the high season, December – April, while the quieter low season is May – November. With each season offering something special, this place remains a perfect year-round getaway.
OBLU XPERIENCE Ailafushi – $500+ Per Night
Book here if you care about: Large island with plentiful overwater bungalows and an underwater restaurant
Explore the natural beauty of North Male Atoll at OBLU XPERIENCE Ailafushi, located in the heart of the Maldives. Featuring an underwater restaurant and spacious overwater bungalows. The best time to visit is during the high season, December – April, while the quieter low season is May – November. Visitors can enjoy distinct seasonal activities, making any visit a rich experience.
Kuramathi Maldives – $504+ Per Night
Book here if you care about: Many restaurant options, and many overwater bungalow options
Uncover the hidden gems of Rasdhoo Atoll in the Maldives, at Kuramathi Maldives, where each stay turns into a memorable experience. Extensive island resort with 12 restaurants and trails throughout the island. The best time to visit is during the high season, December – April, while the quieter low season is May – November. The seasonal dynamics here offer varied experiences, suitable for different travel preferences.
Robinson Club Noonu – $504+ Per Night
Book here if you care about: All inclusive resort with plenty of food options atop an outstanding house reef
Embrace the serene environment of Noonu Atoll in the Maldives, by staying at Robinson Club Noonu, where comfort meets culture. Great resort for all-inclusive options, relaxation, and marine life viewing. The best time to visit is during the high season, December – April, while the quieter low season is May – November. Each visit offers a chance to experience new aspects of Noonu Atoll, making it ideal for repeat visits.
Cinnamon Dhonveli Maldives – $512+ Per Night
Book here if you care about: Overwater bungalows and a private surf break called Pasta Point
Experience the charm of North Male Atoll in the Maldives, at the delightful Cinnamon Dhonveli Maldives. Private island resort with great east and west orientation and surfing. The best time to visit is during the high season, December – April, while the quieter low season is May – November. The seasonal dynamics here offer varied experiences, suitable for different travel preferences.
Komandoo Island Resort & Spa – $512+ Per Night
Book here if you care about: Great island for snorkeling and walks on the white sand beach
Embrace the serene environment of Lhaviyani Atoll in the Maldives, by staying at Komandoo Island Resort & Spa, where comfort meets culture. Private island resort with a hot tub on your porch and steps going into the water. The best time to visit is during the high season, December – April, while the quieter low season is May – November. Whether you come in the peak or off-peak season, this location promises memorable adventures.
Isaraya Luxury Over Water Villas – $519+ Per Night
Book here if you care about: The perfect place to unwind after a Tanzanian safari
Explore the natural beauty of Tanzania at Isaraya Luxury Over Water Villas, located in the heart of Africa. Brand new overwater bungalows that display African luxury. The best time to visit is during the high season, June – September, while the quieter low season is October – May. Explore the essence of Africa through its seasonal contrasts and superb hospitality at Isaraya Luxury Over Water Villas.
Adaaran Club Rannalhi – $522+ Per Night
Book here if you care about: All inclusive small but lush island with a world class dive point on the island
Adaaran Club Rannalhi in South Male Atoll in the Maldives, exemplifies unique accommodation with its own local flair. Great all inclusive island resort with a overwater bungalows and water sports. The best time to visit is during the high season, December – April, while the quieter low season is May – November. This destination is ideal for those who appreciate both vibrant and tranquil travel experiences.
Kudafushi Resort & Spa – $527+ Per Night
Book here if you care about: Small private island atmosphere with a gorgeous house reef
Set in the stunning landscape of Raa Atoll in the Maldives, Kudafushi Resort & Spa offers an exclusive escape from the ordinary. Small private island resort atop a pristine reef with tasty food. The best time to visit is during the high season, December – April, while the quieter low season is May – November. Whether you come in the peak or off-peak season, this location promises memorable adventures.
Amari Raaya Maldives – $532+ Per Night
Book here if you care about: Minimalist overwater bungalows highlighting the natural beauty
Experience the charm of Raa Atoll in the Maldives, at the delightful Amari Raaya Maldives. Private island with overwater bungalows and restaurants. The best time to visit is during the high season, December – April, while the quieter low season is May – November. Each visit offers a chance to experience new aspects of Raa Atoll, making it ideal for repeat visits.
This list proves that you don’t have to shell out $2,000 a night to enjoy an unforgettable overwater experience. Some of the best $500 per night overwater bungalows are hiding in plain sight—you just have to know where to look.
Best $500 Per Night Overwater Bungalows: Conclusion
Finding the best $500 per night overwater bungalows is all about strategy and knowing where to look. From the Maldives to the South Pacific and the Caribbean, stunning options exist for travelers who want the dream without the splurge.
These villas let you wake up to the ocean under your feet without drowning your budget. So if you’re dreaming of luxury for less, this sweet spot might just be the smartest travel move you’ll ever make.
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