Nadi:  Traveller's on New Town Beach.  Easy to get to and New Town was by the far one of the most relaxed places in Nadi.  Traveller's gave the best value for the money, 11FJD for a four person dorm room with a ceiling fan (very important) and a private bathroom.  The bar/cafe to the hostel is right on the beach, making it the best bar in New Town. 
Coral Coast:  You'll hear this from everyone, but the Beachouse is a great place to stay, very relaxed and fun.  It's got a private beach, hammocks, tea time and pretty good dinners.  You can camp here as well as get a room.  I think it was about 20FJD for a dorm room, 12FJD to camp.  If you've got a short time in Fiji or don't want to spend the money to go to an island, I highly recomend the Beachouse to relax in.
Bug Spray:  The Sandflies are vicious, so bring or buy some spray if you plan to stay be on the beach.
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