As I point out in my introduction to the island, "POSH Koh Phangan" sounds like a contradiction in terms. After all, the island has a reputation as one of the last bastions of the backpacker set, with their monthly full moon party.
There are certainly still a lot of "budget" accommodations on Koh Phangan, but there are also a growing number of four and five star resorts. The latest of these is the Rasananda, on the northeastern tip of the island, relatively far away from the party scene in the south. Rasananda consists of 44 villas and suites, each with its own "pool" – I put that in quotes because it appears many of the "pools" are little more than large tubs. But don’t let that little detail put you off. The rooms are generous, with the smallest running to 100 square meters when both the indoor and outdoor space is added up.
Curiously, Rasananda only claims four stars for itself, while a couple of other, less expensive, places on Koh Phangan claim five. The new resort is currently the most expensive room on the the island, with soft opening rates running just under US$200 a night for the cheapest room. After July 15th, the discount rate for the cheapest room goes up to over $400.