Very nice location and great views, at least from the villa we had (#14). Restaurant, pool and other facilities are nice enough and boast spectacular views as well. Good parking. During our stay (early June), the sea was quite rough including strong current; swimming was advisable only at certain times. The breakfast was average at best, so we did not test lunch or dinner, but ventured to other places in the area.
To us, the big downside was the service, which is lacking professionality, hospitality and interest in the helping guests have a good time. Examples include strongly insisting on full payment on arrival despite a long journey, hefty charges for Nespresso capsules in the room, the lack of breakfast menus and long waiting times for virtually anything we ordered. As guests, we constantly felt guilty of annoying staff and keeping on distracting them from their work.
In summary, at Carana Beach you are paying for the very nice location, seaview from the rooms and the intimacy of a smaller hotel. Other than that, the place is a disappointment.