Club Bali Hai (easily confused with Hotel Bai, a few miles away) has most of its rooms directly on the water. Some are even built out over the lagoon and boast windows in the floor -- at night affording a view of tiny fishes attracted by the lights. There is a landing dock, and the calm waters of Cooks Bay provide a protected anchorage for yachts from around the world. Here the launch from Club Med II picks up a passenger after lunch ashore.