@Interceptor121
The PADI Self Reliant Diver is officially recognized by CDWS and allows those that hold it to dive without a buddy. There is no problem getting hold of gear to dive without a buddy. I have done it on numerous occasions with multiple resorts and operations!
Here is the official guidance: http://www.cdws.travel/documents/rules-regulations/CDWS SOLO Diving Policy-V6 (2).pdf (PDF)
The "local laws" argument is propaganda put out by dive ops in order to earn income by providing guides. When I worked there, we used to tell people it was against local "law" to wear gloves, which is also incorrect. But it was a good way of deterring them from wearing them...:)
http://www.cdws.travel/documents/rules-regulations/gloves and knives.pdf
@sinetwo
Na'ama Bay itself has limited diving. I would recommend one of the hotel further North that have the "Gardens" as their house reefs. These reefs are used a "destination" for the day boats operating out of Na'ama Bay! There is really nice hard and soft corals, along with host of macro critters. I have seen both mantas and a whale shark there (but this is very rare!). Ras um Sid has a great house reef (again a destination reef for the day boats), and there are definitely macro opportunities, but it is a relatively small reef compared to the Gardens.
I would also agree that there are great options at other venues in the Red Sea. Nuweiba's house reef was great for muck diving, but it is challenging to get to as flights to Taba have not resumed yet. I dived a fair bit at Port Ghalib, and it has excellent macro, but it is all done from boats, which increases the cost and tends to limit repeat visits to the same areas of reef. In general, it takes me a few visits to figure out how to get the best of the subjects that are available.
As others have pointed out, February is a windy and relatively cold time in the Red Sea. When I lived there and in subsequent visits, I wear a drysuit! Shore diving avoids all the hassle of cold wetsuits out on boats all day and is much more pleasant!