Hi there,
Todd has provided some good information. I've been to Bonaire about six times now and have stayed at several places. The good news for you is that the island is set up to cater to diving. You will be able to rent equipment easily, whether it be for diving or underwater photography. However, I do not know of a place where you'd be able to rent any high-end topside photo equipment. Where you stay depends on what you want. If you want a decent place where you can basically get everything you might need on site, then you might look into Buddy Dive or Captain Don's. I'm more familiar with Buddy, and if you stay there, you have the advantage of their underwater photo shop, run by John Wall, which is located right on the dive dock. Their accommodations are basic, but nice, and there is an onsite restaurant as well as the Lion's Den, which is a more upscale place to eat (great burgers). If you want a nicer accommodation, you might consider Den Laman. The apartments are modern with nice stainless kitchens. However, I am not a fan of the on site dive operation, Bonaire Dive Adventures. Another option is Belmar, which is where we've stayed two of the last three times. The apartments are nice enough, there is a pool, and they have an onsite dive operation run by Buddy Dive. This is advantageous because you can get tanks at either Belmar (South side of the island) or at Buddy (toward the North side). Belmar does not have a restaurant, but Roomer is across the street and has a good, if limited, menu. There are several places to buy groceries now so cooking some of your own meals is an option if you stay at a place like Belmar or Den Laman (If you stay at Buddy or Captain Don's, breakfast is usually included). WE normally prepare our own breakfasts, most of our lunches and then go out for dinner. You can set up boat dive packages with the dive operators or just rent a truck and dive from shore. If it is your first time diving, I'd recommend doing some boat dives, as you can get over to Klein Bonaire and then you have the advantage of the dive guides on the boat to assist you and/or point things out to you. That being said, you can dive most of the sites on the island from shore. You can ask for recommendations on easy entries, but make sure you have some basic navigation skills and that you read up on the sites before you jump in. In addition to the restaurants Todd recommended, I'd throw in my vote for Kontiki, which is over at Lac Bay, Pasa Bon Pizza (we usually order a pizza to be picked up after a night dive down the street), and there is a barbecue place in town (Bobbejean's), only open on weekends that is good for take-out or you can eat there -- good chicken, good satay and pretty decent ribs, for good prices. For topside photography make a day-trip to the park. There are also some good snorkel places there, in addition to the dive sites all over the island, most of which are good snorkel places, too. Finally, again re-iterating what Todd says, when you do your shore diving, don't take anything along you can't take in the water, leave the windows open and the doors unlocked. There is occasionally a bit of petty theft and if you take these precautions, you will not end up with a broken truck window.
Mike