The water villas consist of two separate rooms, each with its own deck. The room is quite spacious and has a beautiful deck overlooking the ocean. Snorkeling is amazing next to the water villas and there are various water sports and scuba diving activities available. We did snorkeling with manta rays, which can be quite scary at first, but definitely a fun experience (and completely harmless).
The island is quite small (700m from one side to another) and can be reached by seaplane, which is a 45-minute trip from Male. Besides scuba and water sports, the island has a gym, a spa and a reflexology center. The massages at the Chinese reflexology center are definitely a must-try (but do book in advance).
As a guest of the water villas, you get access to the bars and restaurants of Adaaran Select Beach Villas, plus the Water Villa Restaurant, which offers nice views towards the ocean and an a la carte menu. The staff at the restaurant are all very helpful and they try to go out of their way to cater to your needs & wishes. Sakuni and Ayman were very friendly and made our experience even more wonderful.
All on all, we had a great time. A little touch-up wouldn't hurt the facilities (the rooms, gym, spa, restaurants), as they're a bit old-fashioned.