for me it's JP resort, which overlooks chalok ban koh bay. About 5 mins by taxi from mae hadd, the 'capital'.
If you can, try and get an appartment on the hill above the road, this is where you get the best view. In the evening the sun sets over the headland and is really beautiful as the colour changes over the water. it's also very very very reasonably priced, esp if you stay for a month or more, if you stay for a shorter period it's still good value.
Great restaurant about a quarter of a mile round the corner called New Heaven, overlooks the cliffs and does the best fish on the island!
There's also a fantastic bar just 150 yards away called Ku De Ta, it's run by a guy from London called Paul and his Thai wife Theda, bot really friendly and a great bar.
pm me if you want any other details.
Gre Jenkins.