Dreaming of a tropical getaway in an affordable overwater bungalow in the Caribbean? Look no further! This post uncovers the 7 best affordable overwater bungalows that offer stunning views, crystal-clear waters, and all the luxury you crave – at a fraction of the price.

Whether you’re searching for cheap overwater bungalows in the Caribbean or simply seeking a unique, budget-friendly escape, these hidden gems will make your island dreams come true (without emptying your wallet).

Here’s a list of the 7 best affordable overwater bungalows in the Caribbean you need to check out for your next vacation or honeymoon. Locations range from Bocas del Toro in Panama to Aruba and Belize.

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Urraca Private Island – Bocas del Toro, Panama

Starting at $195/Night | Rating: 8.7/10 (Booking.com) | BOOK NOW

Urraca Private Island is a private island eco-lodge in a remote area of the Bocas del Toro archipelago with some of the cheapest overwater bungalow prices starting at $195 per night. They feature 4 very rustic smaller bungalows and 1 larger family bungalow. 

The highlight of this lodge is the amazing Caribbean beauty that surrounds it. Great snorkeling, sunrises, and even bioluminescence (glowing plankton) can be experienced. A bonus at Urraca Private Island is that they are also a monkey sanctuary! Come here prepared to connect with nature.

Electronic Sim Card for Travel in Panama: Airalo is the world’s leading E-Sim brand and they offer a 30-day, 3GB plan for $18 that covers all of Panama. We use Airalo whenever we travel abroad!

Punta Caracol – Bocas del Toro, Panama

Starting at $255/ Night | Rating: 8.7/10 (Booking.com) | BOOK NOW

Punta Caracol, located on Isla Colón in Bocas del Toro, Panama, features 9 cheap overwater bungalows starting at $255 a night. It’s a great place to relax and reconnect with nature, snorkel, and enjoy some truly amazing views of the mountains of mainland Panama.

These bungalows are again on the eco/ rustic side, so expect fewer luxuries but equal natural beauty as anywhere else!

Eclypse del Mar – Bocas del Toro, Panama

Starting at $259/ Night | Rating: 9/10 (Booking.com) | BOOK NOW

Eclypse del Mar is another cheap overwater bungalow resort located on Isla Bastimentos in Bocas del Toro. Their bungalows start at $259 per night, and they only have 7 in total which also offers a more private experience. Like most other overwater bungalows in Panama, Eclypse del Mar is solar-powered and eco-friendly. While some luxurious amenities are lacking, you’ll still get to enjoy an authentic overwater experience!

Check out our post: 13 Bucket List Things to Do in Panama

Why Stay In an Affordable Overwater Bungalow in the Caribbean?

In short, you will get a similar living-over-the-water experience for a fraction of the price tag, and it’s going to feel more private and authentic. You’ll get to talk to the owners, connect with the staff, and get a personalized, unique, and authentic experience. Travel these days is all about the local culture and authenticity, and that’s exactly what big resorts lack.

Thatch Caye Resort – Belize

Starting at $658/ Night | Rating: 9.6/10 (Booking.com) | BOOK NOW

Thatch Caye Resort is located on a private island in Belize. These overwater bungalows are built with a rustic, natural wood style. They look like they are almost made out of driftwood! 

Starting prices for couples are around $658 per night which isn’t super cheap, but it’s all-inclusive which helps! Thatch Caye Resort has 15 rooms with 8 beach bungalows and 7 overwater bungalows all on a private island.

Aruba Ocean Villas – Aruba 

Starting at $2,000+ Night | Rating: 4.5/5 (Trip Advisor) | BOOK NOW

Aruba Ocean Villas is the only overwater bungalow resort in Aruba and one of the more expensive options in the Caribbean starting at $2,000+ per night. They currently feature 7 overwater bungalows but are building several more to meet the high demand of this accommodation type. Their bungalows look and feel more like a home than a hotel, made with creativity and lots of love for a rustic beach house luxury vibe. 

Nayara Bocas del Toro – Bocas del Toro, Panama

Starting at $900/ Night | Rating: 9.2/10 (Booking.com) | BOOK NOW

Nayara Bocas del Toro is an overwater bungalow resort in Bocas del Toro, Panama that features both overwater bungalows and tree houses. It is the resort that most resembles the Maldives in this list. 

The resort is built in Balinese style with many features imported straight from Bali. One night in the bungalows starts at $900 per night in low season, and the meal plan is extra. A bonus feature of Bocas Bali is that they have the world’s only overwater beach!

These are the best Affordable Overwater Bungalows in the Caribbean

We know because this is the business we are in and we have an eye on our competition! If you are looking for an overwater bungalow experience but aren’t willing to drop Bora Bora money on it, then this list is a great place to start. The best part is that no matter where you stay on this list, you’ll still be staying in an overwater bungalow which is always an unforgettable experience!

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