We looked at a bunch of places in Caye Caulker and Ambergris Caye. So so so glad we chose Caye Caulker (way better than San Pedro / Ambergris IMHO) and the Velento rental buildings / and our unit were just perfect. We had other people that walked by and said they wished they were staying where we were. There is a wide difference in quality of the buildings on Caye Caulker and Velento is top notch. The private dock is awesome and really private. We were the only people on it each time we went.
The water at Caye Caulker - particularly up by the Split is amazing. Super super clear. The water just off the beach is slightly sandy, but clear at the dock. Highly Recommend.