We stayed in the Jacuzzi Ocean View Suite.
What you are paying for is the view - and It is incredible. Looking out onto the crystal clear waters from your bed is quite magical and It's the best view we've had from a hotel during our travels. The room itself is very nice, clean and comfortable, with good air con, however note the bathroom is open to the outside so that can be quite hot and humid. There is a small private beach which is nice and quiet and they offer free kayak and snorkel equipment for you to use.
What was lacking was the extra touches. The room we were promised via email prior, was no longer available. The staff although very friendly, spoke very little English, so most requests were left with a blank look, even requesting the free shuttle bus back (written in english on a sign) was confusing. We were charged extra items upon checkout and also the first key to our room didn't work. Distance to the walking street is further than expected. All of these are minor issues, but I raise them only because of the price of the room.
I would definitely recommend this place to anyone for the views alone. Koh Lipe is a very small island and this is a great option for a romantic trip.