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10 Best Affordable Overwater Bungalows

Would you like to experience a fabulous overwater vacation somewhere tropical, without having to pay top dollar? We’re here to help you find the cheapest overwater bungalows in the world  so you can relax in style for an affordable price.

Read on for our picks for the 10 best affordable overwater bungalows. We’ve got affordable overwater bungalows in the USA as well as affordable overwater bungalows in the Caribbean, affordable overwater bungalows in Maldives, affordable overwater bungalows in Bora Bora, and affordable all inclusive overwater bungalows.

Affordable Overwater Bungalows Quick Picks:

Best cheap overwater bungalows in Florida: Tiki House Key West

Most affordable Sandals overwater bungalows: Sandals South Coast, Jamaica

Best affordable overwater bungalows all inclusive: Thatch Caye Resort, Belize

Best affordable overwater bungalows in Maldives: Safari Island Resort and Spa

Best affordable overwater bungalows in Bora Bora: Hotel Maitai Polynesia

Sol Bungalows, Panama

Some of the best affordable overwater bungalow resorts in Panama can be found in Bocas del Toro, an unspoiled region on Panama’s Caribbean coast. Sol Bungalows is located in Bocas del Toro on the edge of an indigenous fishing village called Solarte Uno.

The hotel features just two overwater bungalows, which feature glass floors and deck hammocks, breathtaking views, and the warm Caribbean sea below. Having only two bungalows makes for a very relaxed and friendly environment.

At Sol Bungalows, breakfast is included in your stay and dinner is available for an additional cost, with a mix of fish and chicken with ceviche, curries, soups, and salads with vegetarian and vegan options available.

Overwater bungalows extending into turquoise waters with lush greenery in the background.

Azul Paradise Resort, Panama

Azul Paradise Resort is also located in the Bocas del Toro region and offers cheap overwater bungalows in the Caribbean at all-inclusive or regular rates. There are just 10 available at this small, eco-friendly resort, so you’ll enjoy a laidback atmosphere.

Deluxe View or Caribbean View Overwater Bungalows are spacious and have glass floors so you can view the marine life along the vibrant coral reef below; private decks with overwater hammocks; complimentary paddleboards, surfboards, and kayaks; WiFi; and amazing sunrise and sunset views. There’s also a two-story overwater family bungalow.

The off-the-grid resort is set on a breathtaking white-sand beach fringed with palm trees, and offers a restaurant and bar. You can also go on a huge variety of excursions around the area.

Anthony’s Key Resort, Honduras

For affordable overwater bungalows in the Caribbean that are a bit closer to the U.S., check out this Honduras gem, located on the northwest coast of Roatan Island. Anthony’s Key Resort is the perfect option for travelers who love all-inclusive resorts and dream of staying in an overwater bungalow but also want affordable vacations. 

Roatan is a top destination for scuba diving and snorkeling, and is renowned for its clear turquoise waters and beautiful beaches. Onsite you’ll find an open-air restaurant with sea views, an amazing spa, one outdoor pool, and a dive center. There are also activities like snorkeling, ziplining, and dolphin experiences, making it a great choice for all kinds of couples, whether you want to relax or love adventure.  

This beachfront family-run resort has bungalows on a jungle-covered hillside or  an offshore key reached by taxi boat. The Key Deluxe Waterfront Bungalows are 400 square feet and are great affordable overwater bungalows for families because they offer a king bed plus a double bed. These also feature a private covered deck with hammock plus table and chairs.

Overwater bungalow with a thatched roof connected to a tropical shore by a wooden walkway.

Thatch Caye Resort, Belize

One of the best affordable overwater bungalows with all inclusive rates in the Caribbean, Thatch Caye Resort is an intimate all-inclusive private island resort off the coast of Dangriga, Belize. Perched above the sea, the eight recently renovated overwater bungalows here have 180-degree views from private decks, which also include hammocks and chairs.

Thatch Caye is a casual, laidback eco-friendly resort. Swim in the natural saltwater pool, enjoy complimentary watersports, go to yoga, or get a massage by the sea. You can also go scuba diving.

With the all-inclusive rate, you can enjoy drinks and Belizean cuisine at the overwater bar, lounge, or The Grove, which features tables in the sand for meals al fresco. WiFi is only available in the public areas, so this is the perfect escape for couples who want to unplug.

Aerial view of a tropical resort with overwater bungalows arranged in a circular pattern around a central dock.

St George’s Caye Resort, Belize

More of the cheapest overwater bungalows in the Caribbean can be found at this lovely, laidback resort in Belize on an island that’s just 7 minutes from Belize City. It’s easy to get to St. George’s Caye Resort, as they will meet you at the airport and transport you here.

The 6 thatched-roof overwater bungalows are charming but not all that private, as they are set around a u-shaped common dock and face each other. However, each has a private deck with hammocks, and they have excellent sunset views.

Your all-inclusive rate here covers transfers to and from the resort, watersports equipment including snorkel gear and instruction, meals, nonalcoholic drinks, and one rum punch per day. Facilities include a pool, beautiful beach, bar, and spa. Farm-to-table meals are served family-style on the covered dining porch

Akalki Hotel Thatched-roof bungalows overlooking a tranquil turquoise lagoon.

Akalki Hotel, Mexico

Located in the magical town of Bacalar just off the Caribbean coast about two hours south of Tulum, the Akalki Hotel offers some of the only affordable overwater bungalows in Mexico. The private and serene Lagoon Villas are set on the pristine water of Lake Bacalar, known as the Lagoon of Seven Colors. They feature a large deck on the water with sunbeds, a king-sized bed, a daybed/sofa, and a spa-like bathroom.

A continental breakfast is included each morning. You’ll also enjoy a yoga mat, beach bag, and sandals for use during your stay; organic bath products; luxe bedding with 350-thread-count sheets and feather alternative pillows; and Wifi.

These overwater bungalows hold up to three people, making them a great option for small families. On the beautiful grounds you’ll find a restaurant serving locally sourced holistic meals, a bar, a spa, and a temple. The resort has a wellness focus and offers a variety of activities including yoga, meditation, paddleboarding, and healing ceremonies. It’s also near archaeological sites, cenotes, and a historic town for those who like to go exploring.

Tiki Suites Key West, Florida

If you’re looking for affordable overwater bungalows in the USA, Tiki Suites Key West in Florida is your only option. You can choose from two tiki suites, located just minutes from downtown Key West.

These are unique overwater bungalows in that they are not attached to land; they are anchored offshore. You will be completely surrounded by water, and you reach it via a water shuttle service (not included in your rate). They are also off the grid (powered by generator) and have limited conveniences. There is limited fresh water available, and you need to bring your own food and drinks.

The Original Tiki has a king size bed, air conditioning, a cooler, and a coffeemaker. and a small deck with a hammock and two chairs. It comes with two paddleboards and two sets of snorkeling gear. The Grand Tiki has a king size bed, air conditioning, a minifridge and coffeemaker, a TV, and underwater lights. The deck features a double hammock and two chairs. It also comes with two paddleboards and two sets of snorkeling gear.

Sandals South Coast, Jamaica

While not inexpensive, the most affordable overwater bungalows at Sandals resorts can be found at Sandals South Coast. This adults-only all-inclusive resort is set along a beautiful beach in Jamaica. The luxurious over-the-water bungalows are perfect for a honeymoon or romantic getaway.

The Over-the-Water Bungalows allow you direct access to the Caribbean with an expansive deck that features a Tranquility Soaking Tub™ for two, an over-the-water hammock, an outdoor shower, and a suspended patio with a swim-up platform. The interior has see-through glass floor inserts that guarantee undersea views, a king-size bed, and a spacious, spa-like bathroom.

As at all Sandals resorts, there is a huge variety of complimentary watersports and land activities available, as well as a fitness center and a spa. You can dine at 9 restaurants, serving a variety of cuisines from Italian and Mediterranean to Jamaican to Asian. To get the lowest rate here, travel during the offseason, look for deals and discounts, or use a Sandals travel agent.

Tropical island resort with overwater bungalows and a turquoise lagoon.

Safari Island Resort and Spa, Maldives

Some of the only affordable overwater bungalows in Maldives can be found at this peaceful resort, located on an atoll about 25 minutes by seaplane from Male Airport. Safari Island Resort features a stunning crystal clear lagoon and powder-soft white-sand beach, surrounded by a vibrant coral reef for excellent scuba diving and snorkeling.

Amenities include an overwater, open-air restaurant and bar; pool with pool bar; sunset bar; watersports and land activities; a fitness center; and an overwater spa. There are also “safari boats” that will take you out on the water for various types of excursions.

The 39 overwater bungalows here are sizeable and have private decks with sun loungers and lagoon access; air conditioning and a minifridge; WiFi; a separate bathtub and shower; and a glass bottom table so you can see into the water.

Aerial view of a tropical resort with overwater bungalows along a clear blue shoreline.

Hotel Maitai Polynesia Bora Bora

It can be tough to find affordable overwater bungalows in Bora Bora, but you can get one at Hotel Maitai Polynesia for under $1000 per night. Their traditional Tahitian overwater bungalows have glass coffee tables to you can see into the water below, as well as private balconies with fabulous views. In addition to the large king bed, there’s a sofa bed, making these a good option for both couples and small families.

This serene and small retreat is set on a vivid turquoise lagoon and features a private beach. There are two restaurants and two bars, and guests have access to complimentary snorkeling equipment, kayaks, and canoes. You can also rent bicycles to explore the island.

You have a choice of rates that include breakfast or half-board rates which include breakfast and dinner. There are all sorts of excursions that you can book for an extra fee.

Now that you’ve read our list of the top 10 affordable overwater bungalows, which is your favorite? Let us know in the comments! And if you’d like help planning your trip, feel free to reach out to one of our expert travel advisors!