While our writer indulged his champagne tastes and
caviar dreams, there are ways to dive French Polynesia
much less expensively.
Caradonna Dive Adventures is a big U.S. dive travel
  agency that offers dive packages in the area. Currently,
  it has a double-occupancy deal at the Hotel Kia Ora that
  offers six nights in a beach bungalow (that includes two
  free nights), 11 dives with Topdive, breakfast and dinner
  daily, and airport transfers starting at $2,293 per person.
  The deal is valid through May 31, and you must book it
  by March 31 ( www.caradonna.com ).
Another of our writers visited Rangiroa (see our
  article in the June 2007 issue) and stayed at Pension
  Bounty, which charges approximately $130 per night
  (based on mid-December Euro rates) for a double with breakfast and dinner included ( www.pension-bounty.com ). Topdive was also his choice of dive shops, which
  partners with e-Tahiti Travel to offer dive packages
  ( www.etahititravel.com ). A seven-night, doubleoccupancy
  package with three nights each in Bora Bora
  and Rangiroa, airfare from LAX, interisland flights and
  transfers ranges from $3,732 per person for two-star
  accommodations to $4,372 for four-star accommodation.
  (It only includes eight dives, so you'll have to pay extra
  for more).
For straightforward advice on what you'll get for
  your money, we like Dive Tahiti Blue, founded by
  Laurel and James Samuela, a California divemaster and
  a Tahitian native, who give their honest opinions about
  Tahitian lodging, and prefer smaller family pensions
  over the luxury resorts. On Bora Bora, they recommend
  the Pearl Beach Resort on the top end, and Novotel Bora
  Bora Beach Resort and Hotel Matira as bargain finds.
  They'll book dive packages catering to whatever your
  budget ( www.divetahitiblue.com ).