the most famous overwater bungalows in the South Pacific are those in French Polynesia, there are others farther to the west that are worth consideration. Vanuatu is a group of islands located north of New Zealand and northeast of Australia, making it a popular holiday location for people from those countries.
Though it's not part of French Polynesia, this is another country the French claimed in the late 19th Century, but the British did as well so both French and English are commonly spoken, especially at resorts.
The two hotels with overwater bungalows here in Vanuatu are both large and family-oriented, with only a small number of overwater rooms. Both are located just outside the capital city of Port Vila on the main island, and are next door to each other on Erakor Lagoon.