Santa Rinouli Suites is a beautiful relatively new facility with an amazing view. The beautiful picture provided on Airbnb is exactly the view of the cauldron from the bedroom window. Great for daytime views and watching the sunset with a glass of wine. We had a full moon while we were there, so the view was even beautiful at night. The host, Dimitrios, is very nice and very helpful! He even came and rescued us when our taxi from the port sent us off walking with our bags downhill in the wrong direction.
The facility is on the edge of the village of Megalochori, which is approximately equal distance between Fira and the Akrotiri archeological site (definitely a must see) near the red beach. Megalochori is very picturesque with narrow alleyways and has a couple of good tavernas (we had a great grilled stuffed calamari there).
The facility is very close to the bus stop and the buses go from one end of the island to the other. Traffic at this time of the year is pretty intense and the roads don't accommodate walking safely at all. We did walk to the nearby Santos winery (another highly recommended stop for the view and tasting good wines), but we took the bus back because the walk was not safe due to the heavy traffic and no sidewalks or paths to walk on. If you come outside of the peak months of June, July, and August, renting a car would probably be the best way to get around. During busy season, the buses are the best way to go.
Over all, we had a great trip to Santorini and had a beautiful place to stay. Thanks, Dimitrios!