22 Overwater Bungalows That Offer Paradise Without the Price Tag

Lisette Marie

May 29, 2025

18. Caye Reef Resort (Caye Caulker, Belize): Budget-Friendly Island Vibes

Swimming near the infamous Lazy Lizard bar located at the split. Photo Credit: Wikimedia Commons @James Willamor

For an authentic, budget-conscious overwater stay, Caye Reef Resort on the laid-back island of Caye Caulker offers simple yet comfortable condos and cabanas directly over the Caribbean Sea. While not standalone bungalows, many units feature private balconies right above the water, allowing guests to jump in or fish directly. The focus here is on Caye Caulker's famous "Go Slow" mantra: easy access to snorkeling, diving, and exploring the charming village, all at a fraction of the cost of more luxurious overwater destinations.

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22 Overwater Bungalows That Offer Paradise Without the Price Tag

18. Caye Reef Resort (Caye Caulker, Belize): Budget-Friendly Island Vibes

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