We are 2 early 30 females looking for a place to stay on Phi Phi for 4-5 nights in the $100-$150/night price range.

We like the "island feel" type of hotel/resort, near or on a beach that has easy access to different tours (by boat etc) to see the surronding area. Not too off the beaten path, but not in the heart of all the tourists either. (staying @ Majestic Grande in BKK if that helps)

Take a look at one of the Thai booking sites such as www.sawadee.com and see what interests you. Note that the prices on that site all include tax and serice, with otherwise adds 17% to your cost.

Penelope, check out Phi Phi Island Village as well as the Holiday Inn. I think the latter might be more in your price range, but both may be at the high end of it.

We loved PPIR...and I highly recommend it--lots to do and see from there (for a cost) but far enough away from the hordes of pasty, sunburned tourists looking for chicken nuggets.

I'm sure my good friend Leigh can chime in on the Holiday Inn as well.

No matter what, definitely look to stay on the east side of the island for what you're looking for. Avoid Tonsai Bay and Ao Loh Dalam like the plague!

Google for pictures of the main building rooms (not bungalows) at PP Casita

I stayed at PP Casita last week and just wanted to update this thread to mention that it was absolutely great. The bungalows are a great place to stay. The hotel is right next to the beach (but tucked away from the main hustle and bustle) and has a great pool with a bar. The breakfast is not great, but it exists and is included in the cost of the room. For 1800 baht (air-conditioned double room w/hot shower etc), it was a great deal compared to everything else we saw and heard of from various people staying on Phi Phi at the same time. They also cleaned it meticulously every day. No complaints at all from us. It was also sold out the entire time we stayed there. I would highly recommend it. We booked it through an online agency, which was cheaper than booking directly through the hotel, but we had to pay with a credit card up front when booking.

We stayed at the bayview which we liked and it will be in your price range. If I went back to Phi Phi though I would stay on Long Beach. We spent a few days there and much preferred it to TonSai. On the whole, the beach at Tonsai was the biggest dissapointment of our trip. We caught long boats from Tonsai to Long Beach and the most we paid was 80 baht per person and this was quite late at night. The only reason I would stay in Tonsai again is if I discovered the fountain of youth, became single and wanted to party until 7 am every day.
The PPIV is beautiful but very remote and I think you would pay around 1000 baht in Long Boat transfers as it is right around the other side of the Island from Tonsai. The walk would take an hour over a steep mountain on a fairly rough track. I would prefer to be closer to Tonsai as it still has a bit to offer.