A very unusual place, Glover's Atoll Resort & Island Lodge is more of a private-island campground than a proper resort, but they do have 8 “thatched roof overwater cabins” to go along with their beach cabins, dormitories, and actual campsites. It's at the edge of a popular diving spot and there are several other water sports on offer.
The cabins come with cooking utensils and a portable stove, and there's a restaurant on the island as well. The prices here are incredibly cheap compared to proper overwater bungalows, but reviews from past guests are often vicious in their dissatisfaction, so this isn't a place to just book without doing your research.
Reviews of Glover’s Atoll Resort seem to be very mixed, with outraged guests actually outnumbering those who love it, which is extremely unusual for any hotel we list. The people who love the place seem to have adjusted to the fact that it’s basically a campground with some huts and rooms, and the owners can be flakey or worse.
Those who’ve rated it poorly complain about being overcharged on credit cards, getting horrible or hostile customer service, and that most extras available can be a rip-off. There are also guests who state they return visit after visit, so there are some who really do seem to love the island. Before booking it would be wise to read the latest reviews and see if you think you are ready to give it a chance yourself.