Absolutely! We went last October, stayed in one of the overwater bungalows. There are no other places to eat on that side of the island except next door at Sinalei Reef. You are not missing out on alternate fine dining experiences like you might on other islands. Coconuts food is great, may varities, you never get bored. Some days they have BBQs, hugh Lobsters, great beef, chicken etc. Includes beer & house wine. Cannot go wrong! Say "hi" to Mika, the bartender/partner & head of the restaurant. Guy from New York, very personable. We had a jeep included in our o/w room. So we took a day trip into Apia, had to visit famous Aggie Grey's, Bahian temple & all the little settlements along the way. Tour southeastern coast beaches. There is snorkeling & diving in a deep blue hole outside the marina in Apia. The island is very primitive except for Apia. Big constrast. The hotel has a guide you can hire to do trips to waterfalls, beaches, etc. If you are on your own you must ask permission & pay a few dollars to local chiefs for using their beach. Sinalei Reef Resort next door has tours into Apia at night to go see Cindy the famous transvestite do her show. I'm sure you have read some families raise boys as girls if they are lacking in female help & hence a culture of "fafafinas".
Coconuts is a great value, not as polished as Sinalei (hot water & air conditioning sometimes on, sometimes off....but no big deal) but it seemed everyone winds up at Coconuts beach bar in the afternoons, more of a fun place. Have a great time & please let me know what you thought, I haven't known anyone else who has gone there recently.
Peggy