There are two Starwood properties in the Maldives.
- Sheraton Maldives Full Moon Resort - http://www.flyertalk.com/forum/starw...er-thread.html
- W Maldives Resort - http://www.flyertalk.com/forum/starw...er-thread.html
I have not stayed at either; my knowledge is from checking the website just now and from reading this forum.
Sheraton Maldives - 20 minute boatride from Male Airport - 20K SPG points/ night or C+P when available of 8K SPG points + $150. Rates start at $250 including breakfast in early June.
W Maldives Resort - requires a flight from Male that costs a few hundred dollars RT. It's an all suite level 7 property, so costs 2x the points for its level. It would be 60K to 70K SPG points/night. Rates begin at $800 without breakfast and $815 with breakfast in early June.
The Park Hyatt Maldives has just been branded a Hyatt. I believe that the flights to its atoll cost $500 RT and that it is 2 hours from Male. You can redeem awards here for 22K points/night. I believe that it is an all suite property, so this is quite a good redemption rate. It is roughly $800/night for your dates.
http://www.flyertalk.com/forum/hyatt...ming-soon.html
Your timing is perfect for you to attempt to buy Hyatt points with the Discover America sale.
http://www.flyertalk.com/forum/hyatt...ica-promo.html
There are a limited number of packages available on April 15. Caution: they will go fast, and it requires an AMEX to buy.
None of the hotels will give you over the water bungalows for the prices and points given above.