Me and a buddy (both single guys in early 30's) would like to make the trip. Phuket, Koh Samui or somewhere else? Also, places to stay would be appreciated.
For 2 single guys in their early 30s, the answer is Koh Phangan, hands down. The crowd here is generally much younger, the other islands are often loaded with families etc, however young people from all over the world tend to congregate here. It's especially famous for the full-moon parties on the beach and half-moon parties in the jungle. It's got some excellent scuba diving, is extremely cheap, and has an awesome beach (you should probably stay on Haad Rin, the main beach area).
As far as a hotel, if you're looking for a bare bones place with excellent proximity to everything, "Same Same Guesthouse" is perfect and will only run you guys about $10 a night each.
http://en.wikipedia.org/wiki/Ko_Pha_Ngan
http://www.phanganbungalows.com/display_detail/object_id/31/Same+Same+Guesthouse
I traveled from Bangkok to Phuket to Ko Phi Phi. Phuket is a must see (make sure you go to some Thai Boxing fights). But if I did it again I would spend more time on Ko Phi Phi. Didn't get to scuba dive out there but I saw plenty of scuba shops and heard lots about it. Ko Phi Phi is a chill place, no cars anywhere. The must do's about Ko Phi Phi is camping on Maya bay, (http://www.mayabaycamping.com/) where they filmed the movie "The Beach" with Leonardo DiCaprio. Slept right on the beach. Best Food you will eat on your whole trip. The beach on Ko Phi Phi is awesome, very calm and warm. Highly recommended. Make sure too that you eat at a little whole in the wall called Papaya just ask for their favorite dishes. Very friendly people. Enjoy your trip and make sure to always negotiate your prices. Some things the scuba trip are set but most everything can be much cheaper.
For 2 single guys in their early 30s, the answer is Koh Phangan, hands down. The crowd here is generally much younger, the other islands are often loaded with families etc, however young people from all over the world tend to congregate here. It's especially famous for the full-moon parties on the beach and half-moon parties in the jungle. It's got some excellent scuba diving, is extremely cheap, and has an awesome beach (you should probably stay on Haad Rin, the main beach area).
As far as a hotel, if you're looking for a bare bones place with excellent proximity to everything, "Same Same Guesthouse" is perfect and will only run you guys about $10 a night each.
http://en.wikipedia.org/wiki/Ko_Pha_Ngan
http://www.phanganbungalows.com/display_detail/object_id/31/Same+Same+Guesthouse
Thailand's islands are truly amazing. Stick to the three islands on the East Coast as they are all less touristy, super close to each other and unique.
Koh Samui - Most developed of the three but still bliss. Probably has the most "things to do" with day and night life, but it might be a bit overdeveloped depending on your style. If you haven't traveled much, this might be the way to go.
Koh Tao- If you're looking for Scuba Diving, THIS is the island to go to...it’s almost the main purpose of the island for backpackers and is by far the most relaxed as well. Very quiet, great beach, great scuba diving. Definitely go here if you want to take a class and relax.
Koh Panang - Go there for the full-moon party and leading up to it, but otherwise the other two are the best choice.
Make sure to use a ton of "Sunscreen & Moisturizers": http://www.groominglounge.com/suncare.html while at the beach and even scuba diving. Sun is really strong there…enjoy!
Koh Tao, I only snorkeled there, but it's my favorite place on earth. You'll just want to live there for the rest of your life and be an old hippie that runs a guest house.
I have spent a total of 6 months in Thailand specifically for SCUBA diving classes and instructing. I can specifically tell you Koh Phangang is not the best place for spending your time lounging on the beach and SCUBA diving.
The first thing to look into is the weather in Thailand. You can break up Thai beaches and SCUBA diving between a western side (Adaman Sea) and the eastern side (Gulf of Thailand). Check on a travel website or weather website on the average rain fall by month in specific places. This will tell you generally where you want to be east or west.
If it's rainy on the east (Koh Samui, Tao, Phangang, and Phi Phi), start off in Phuket (take classes there if you need them) and then get on a dive charter to the small islands of the coast in the Adaman sea. This is where you will see anything and everything that is under the water in Thailand. Some charters even have an agreement with the Burmese government (Myanmar) and you can explore there too (some don't but will still go, as of yet I haven't read anything about the Burmese hassling any charter boats). With so many of these islands unexplored or inhabited the vis is great and the reefs are about as pristine as they get. After a charter there is plenty of time to lounge on the beaches of Phuket or Lanta.
If the weather is the opposite and the east is dry and the west is rainy, stay on either the islands in the Gulf (Tao, Phangang, Samui) or up north in the Phi Phi area. Phi Phi and Koh Tao are as chill at it gets in Thailand when it comes to SCUBA diving; minimal prostitutes propping you at clubs and bars, the streets are not completely lined with stalls trying to sell you Chang beer shirts or tailor shops. These communities are built specifically for the SCUBA tourism and expats who want a quiet beach to live on. There is a large 18-28 year old crowd of people who come by Koh Tao for dive classes before and after the full moon party but other than that, the island is almost always just divers or students. The beaches are great at both places (Phi Phi and Tao) and because its Thailand, there are always good night spots to party. Keep in mind though, if you don't like diving and are tired of laying on the beach there aren't too many other things to do at these places.
Koh Phanang and Koh Samui are kinda over done. Samui is where you go if you want to say went somewhere off the beaten path in Thailand. Think of it as saying to went and toured Mexico but really only hung out in Tijuana. Samui however does have real hotel chains, (they are even opening a W soon, yay???) and they have the elephant rides, tiger farms, Muay Thai fights almost every night. You can buy all the touristy stuff like the t-shirts, pirated dvd's, and meet the local girl of your dreams for 200 baht and hour. Phangang is pretty much the same thing except all the other tourists are stoned or high on something. This isn't a slight on Phangang, its the tourist crowd that they market to and that is who they normally get. There are quieter sides to both islands but they are few and far between.
These two islands, however, are the only places you can get a charter to the Angthong National Marine Park. These are a smaller version of the Adaman islands but on the east coast. These are the islands where Alex Garland set "The Beach" when he was writing it on Koh Phangang. Awesome place to dive when the weather is right.
If you need to take classes goto Koh Tao, and then move on to the marine park. Koh Tao is a bit of a certification factory but all classes are generally taught by some expat from your country of origin and want you to be able to enjoy diving.
For accommodations, make a two night reservation for wherever you are going and then spend those couple of days figuring out where you want to spend the rest of the week. This is because whatever was cool last year or 6 months ago could be doing a remodel or an expansion (this happens all the time in Thailand, the tourist industry there seems to be recession proof because its is all ready so cheap.) The best places I've found for this are Agoda.com or Latestays.com.
If you have any other Thailand questions: http://www.lonelyplanet.com/thorntree
is a great place to post. People who have been, people who are going, and people currently there all log in to find out everything from current hotel prices to which Thai border crossings are the easiest to get an extended visa.
Koh Phangan for night life - usually best just before the Full Moon party, which is unmissable.
Koh Tao for scuba diving - quiet nightlife but the best scuba diving.
Koh Phi Phi for a mix of both - great for lounging on the beach too.
Phuket - stay clear, the sleeziest place I've ever been in my life.
And for something different try Tubing in Vang Vieng, Laos.
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You can use Phuket as your base to explore the surrounding islands. Phuket has the tourism infrastructure and there are many companies that operate diving excursions out from there. Personally I've not scuba-dived in Thailand before, but I've done snorkelling and the waters around Koh Phi-Phi are gorgeous.
I also know for a fact that Koh Samui is a favourite haunt for people looking to get a crash course in scuba-diving. It is a less touristy alternative to Phuket. I am not sure what the current rates are, but Thailand's never been a terribly expensive destination, in my experience.