We were recently at Four Seasons Bora Bora in late March 2016, and enjoyed a fantastic stay in the Overwater Bungalow with Plunge Pool (#231) and also an Otemanu Overwater Bungalow Suite with Plunge Pool, which is even larger and directly faces Otemanu. We saw a shark and barracuda in the water right under the villa, but as mentioned elsewhere, for the best snorkeling and diving you'll want to take a snorkeling or dive trip to visit other places in the lagoon, or outside of it.

Since there was some discussion of the food options and quality upthread, I wanted to share our experience. Breakfast is still buffet, but many choices--we especially enjoyed the different housemade yogurts, fantastic pastries (much better than the ones at InterContinental Thalasso, where we also stayed), rich dark hot chocolate, crepes, fresh ahi, and omelets. Since it was peak season, the resort also offered breakfast at the Lagoon Restaurant, which is normally only used for conferences/groups, but was a more tranquil alternative to the busier Tere Nui Restaurant.

I just had one simple dinner, seafood chirashi at the Sunset Restaurant, and it was very fresh and the portion was fine for me, although a larger appetite probably would have needed something more.

Also really enjoyed dinner at Arii Moana, the fine dining restaurant, in particular the seared tuna with tobiko and lime cream. Excellent attentive service as well.

In-room dining was also very high quality, both the food and the service set-up, ice bucket to keep the ice cream/sorbet cold while eating the dinner, and prompt pick-up/clearing away afterwards. I agree there aren't that many local choices, but I expected that, as someone from Hawaii, since traditional Hawaiian and other Polynesian fare is quite basic and not always to the taste of visitors. Photos and some menus here for those interested: http://travelsort.com/blog/four-seas...iews-and-menus