I stayed at one of these villa for one week in mid January and thoroughly enjoyed myself. The location is great and in my humble opinion very accessible - i.e. not more than 3 minutes away from the closest dive center (Asia Divers - where I did my Open Water Course), restaurants and about 600-800 mts from Sairee Beach (didn't measure it, sorry). True, as Sodophe writes, not the best road leading from the main road to the accommodation, but it can easily be walked or biked. Overall I would say that I found it to be great value for money and the garden and pool is just a great place to hang.

This is more like a nice rented home than a luxurious 5 star hotel. If you are expecting 5 star hotel service, then this won't be the place for you (it doesn't even have a reception!)
Lipanaa Villa is a sister villa of Jivarah Villa (Jivarah has beautififul seaviews where as Lipanaa just has the view of your own pool).

Overall, I had a great time staying there. The villa consisted of a living room, 2 bedrooms, 1 bathroom and a kitchen (the actual villa does look like what's shown on their website).
As my boyfriend had upset tummy due to the travelling, we made full use of the kitchen by cooking some simple, light meals in the villa.
The Villa staff brings breakfast to you every morning at your requested time (they buy breakfast from an ourside restaurant, there's a breakfast menu in the living room) and while they're there, they also change your towels, make up the beds and do a bit of cleaning. (Note, there's no telephone in the villa, so if you want to contact the villa staff, you'll have to use your mobile to call). If you request your breakfast in the morning after you've had enough sleep, it takes them about 30~45mins to bring the breakfast over (so call them as soon as you wake up).
Koh tao is a beautiful island, we spent most of our time on the beach, so we didn't actually step into the pool at all... not even sunbathing on the sunbed!

However, I must warn people that the villa is located at the back of the main road and the only way to reach the villa is by a bumpy, rough dirt road. I would say walking back to the villa from the main road is quite far (approx 15~20mins) and there's no street light. The best way to travel around by motorbike (which is what we did), but as mentioned previously, the dirt road is bumpy and rough, it's a bit like riding in a rally race, so if you are not an experience biker, it's definitely not recommanded. You'll be better off renting an quadbike (ATV), which is much more stable than motorbikes.

And also, the island is full of mosquitos, so no matter where you stay or go, there will be mosquitos. Make sure you keep the doors closed all the time to keep the mosquito outside the house. If you leave your bedroom windows open, then you are just inviting the mosquitos to your tasty blood!!!