I just got back this past Tuesday from a trip that went to the Maldives and Coron; yet if you want water like Balabac, you should look into El Nido (which you can fly to) or Malapascua which you cannot fly to but has thresher sharks. Both El Nido and Malapascua are stunning and are somewhat developed unlike Balabac
Second time in the Phils, the first time in Coron. The beauty of Coron is you can fly there and even when the viz is bad, it's usually descent inside the wrecks. Any questions, ask away...Here's some footage:
With Coron, I'd recommend staying downtown as you'll be by all the restaurants, along with fairly cheap services like massages, laundry, etc. Another tip would be when you reach out to dive shops, see if you can add a tour such as a visit to Coron Island (a different island than Coron) as this will save you time and probably $$$. They have Barracuda Lake you can dive which is fresh water on the top, that is pretty scenic
I did a week PG this past Nov-Dec, and I only found the diving alright. They boast about 100+ dive sites but all the dive boats typically wouldn't go that far from the shore. Saw manta shrimp, sea snakes, and turtles, a few nudis but not much else. This is why I "diversify" my diving as I dislike parking myself for a week in case I don't like diving and as I stated, we did both the expensive Maldives and the (relatively) cheap Coron on the same trip
We're planning our next trip there next month, from Manila will fly into Dumaguete, head to Dauin where it is octopus mating season, then take the ferry and head to Moalboal for the sardine bait balls, then the most brutal part of the trip, getting from Moalboal to Malapascua. A direct private transfer is stupid expensive but if you're willing to make this long drive even longer, you can find very affordable private transfers from Moalboal to the Cebu airport and from the airport to the ferry port that goes to Malapascua