We visted Bora Bora and Moorea a few yrs ago and stayed at the Pearl on both islands. Wonderful place to stay but pricey. Loved staying on the over-water bungalows. I would recommend staying at any of the resorts that are on the 'ring'. You get to look across the water to the island which provides great scenery. Food is expensive at Bora Bora at most all locations.
The best diving is outside the ring so if you stay at a resort near the ring opening, you have shorter boat rides.
On Moorea, Top Dive was great. On Bora Bora, they were poor.
I kept getting put with beginning divers on Bora Bora even though it was clear I was not a beginner. I was forced to end dives with 1700-1800 psi in the tank repeatedly. The last day there, I paid extra to NOT be with beginning divers. I was told I would be with highly experienced divers on the boat. Once out on the water, they were teaching the couple I was to dive with how to giant stride off the boat!! THe vis. was perfectly clear and they ended when I had 1800 psi left. The dive guide insisted I abort the dive and leave with them. I was furious, to say the least.
The LAST thing I would ever do is use TOP DIVE on Bora Bora again.