I'd definitely recommend the accommodations at Paradise Cove! There are only a few: an older 2 bedroom villa; 2 brand new 2 bedroom villas; and a condo---with the proprietors living above it.
The Brown family has lived here for 100 years and they manage the beach, the few accommodations, and the Red Bar. They are wonderful hosts and very helpful. They transported us to and from the airport and wouldn't accept payment for the shuttle. They even stopped at a grocery store and let us pick up some items.
I chose this place because of the price. It was cheap in comparison to just about everywhere else on Grand Bahamas. With hotels, there's an added tax---PER PERSON! With the other condos and villas I checked out, there were taxes per person and a cleaning fee of about $75. This place had neither. It was $105/night for the 2 bedroom older villa and the proprietors couldn't have been nicer. We even got a discount on the snorkel equipment.
The accommodations have a full kitchen and bath, with AC, TV, and VCR. The TV reception wasn't very good when we were there, but they offered free video for viewing and we took advantage of that. There wasn't a washer and dryer in the older villa, but we were allowed to use the one for the resort.
No pool, but who needs it? You're right on the beach! No workout facilities but you can swim all you want in the ocean. It's also the only place on Grand Bahama that you can snorkel right from the beach and see lots of coral and tropical fish.
During the day, the resort opens up for paying beach visitors. During that time, an outdoor bar (the Red Bar) also opens with lots of good bar-b-qued sandwiches and refreshing drinks. During the evenings, the place becomes a secluded beach for the resort renters.