We had a great time at Relax Beach Inn, Hulhumale (not to be confused with any other).
While booking I realized that this hotel is actually on the same island as the International Airport, so it is a convenient 10 minute drive ...at one point you actually actually drive across the runway ;) . That means, you don't have the hassle of waiting for a ferry etc. OR you can simply take the public bus (around 3 Rufiyaa per pax).
Check this out on the map to see the location ... but the proximity to the airport is very convenient indeed... Male City is a 20 min ferry ride away ...
As for the hotel, the staff (Shafiu the manager, Sunil the front office person, Bright who's the chef and Saiful the housekeeping guy) are such NICE people, that your most difficult time will be when you leave ... you won't feel like leaving this place :) ...Very helpful, always ready to support your needs with an ever-present smile...this is how hospitality should be...
The charges are exactly what Expedia had mentioned, you can make tea/coffee for yourself whenever you want, eating joints start literally a stone's throw away, the public ferry is just 10 mins by bus, you can book various packages from the hotel itself (scuba diving, picnics, island tours, fishing trips etc) and the best part is THE BEACH IS RIGHT IN FRONT...