I was over there in April and stayed at Hudhuran Fushi Resort (about a 30 min boat ride from the airport)
http://www.surftravel.com.au/destinations/resortIndex.aspx?ID=6&parent=139. The resort has it's own exclusive use break called Lohi's which had clean 2-4 foot waves everyday I was there and a couple of days of double over head waves (the photo is from my last day there which was also the smallest). There was never more than 8-10 people out and there were plenty of times I got it solo or with only 1 or 2 others out. The resort also has boat trips out to a whole stack of other breaks, I went to Ninja's, Sultan's and Honky's and didn't get a bad wave (f'n strong currents running through though). The accommodation isn't as flash as elsewhere but it included all you can drink beer and buffet meals. C
an't recommend the place highly enough.