I stayed at the Hippocampus as part of a package with Devocean. This is a good option if you are diving as you can come and go easily from dives. Note that my friend stayed 5 mins away and used Devocean with ease, so if cost is an issue, there might be better options nearby.
The rooms are basic but clean with air con and fan. The water pressure was very low, so there is hot water but expect to take a long shower to shampoo and wash.
Note: The property would be MUCH better with concrete paths from the restaurant or a water rinse in front of each room. I ended up with way too much sand in the room even after trying to rinse at a single tap in front of the rooms. This is an easy fix which should be done.
There is a nice bar next to the dive shop that has lots of activity from 5pm onwards. There is live music on Wed and Sat nights. This is easy to hear in the rooms so expect to be up until 11pm on these nights.
The restaurant serves a mix of Western and Asian food. The breakfast is the best part in my view. The pizzas are forgettable (well mine stayed with me for a few hours after lunch), especially when compared with Angelina’s, a 10 min walk down the beach. I would put Angelina and Ocean Veda above Hippo for food quality but otherwise eating here is okay, especially when combined with drinks. Service could be better but is inline with other options on the island.
Overall, the Hippocampus is a decent option on Malapascua’s main beach. Small fixes around the sand, water pressure, and food would easily place this resort in the top spot.