Responses.....
1. How much do things cost once you are down there? Is food and bottled water going to break the bank? What about water taxis?
You just need to understand that it is like an expensive European destination. The good thing about Le Moana IC (apart from prettier views than the Thalasso) is that you can walk to various inexpensive restaurants and a supermarket, where bottled water is $3 and a big bottle of Coke is $4, and where you can buy bread / cheese / meat etc to prepare affordable lunches. In contrast, at the Thalasso you have virtually no way of bringing in your own food and drink.
2. How easy is it to get from Thalasso to main island? I hear a lot of people say it is a pain, but what makes it a pain? Does it take a long time? Is it pricey?
It's only a pain in that you are a prisoner of their boat schedule, so you need to plan when you go and come back. It's fine really.
3. What is it that you love about Bora Bora? Is it that much more beautiful than Hawaii or the Carribean?
Bora Bora is so much more special than those destinations that it is hard to put it into words. Firstly, it is far more beautiful: water more turquoise than
you've ever seen before (even at the airport) plus amazing craggy mountains. Hawaii's beaches are very poor in comparison, while some Caribbean beaches are nice, but only St Lucia has comparable mountain backgrounds. Secondly, it's more exotic: there is a far smaller density of tourists, and the people are Polynesian. Thirdly, it's terrific not having to tip and knowing that in a country where the minimum wage is $1500 per month and there's universal free health insurance there are simply no homeless people, no hawkers trying to hassle you to buy souvenirs, no-one who wants to steal your passport (as they all have French European Union passports).
4. Last question. I am thinking of going with my girlfriend and her sister. Is this one of those places where three is going to be a crowd? I'm not so concerned because we always travel together, but will we be the only people on the island not traveling as a couple?
I go every year with my small kids and it's just fine. Anyway, your girlfriend's sister might meet a hot Polynesian guy with a French accent.
The simple fact is that Bora Bora is the best of the best. But avoid the rainy season from November to April.
By the way, if you're SPG Platinum I'd be much more inclined to book the Best Available Rate at the Bora Bora Nui (usually around US$480 per night) in the knowledge that they are generous with upgrades and it is much easier and quicker to go to the capital Vaitape to shop than from the Thalasso.
I'm SPG Platinum and an Ambassador, and I prefer the BB Nui to the IC Moana Beach and the St Regis to the IC Thalasso. The only advantage of the IC's is that redeeming points for free nights is a better deal.