I have spent the last week vacationing on Water Island which is a 10 minute ferry ride from Crowne Bay on St. Thomas. The place is fabulous. The place I stayed was nice but not elegant. The somewhat spartan accomdations are clearly made up for by the setting. I would return here again for sure.
http://www.water-island.com/
Alex Randall who is the owner of this piece of paradise is also a local radio personality. He's know as the "Good News Man" because his one hour radio talk show from St. Thomas is all about nothing but good news in the world.