Maldives has long been the top of the beach destinations, receives“ all year round Paradise ” reviews, but there are sometimes a different case. 
* In the Wet Season (May to November) it can have heavy rains 5 times a day, strong winds and big waves.
*Beaches on local islands can be very windy, or calm but covered with trash,  rocks at the bottom, small branches floating, or occupied by boats. 
* Many beaches, including resorts that you can see from public ferry, are yellowish or light yellowish white, not shinning white. Same beach can appear differently in TA review photos, depends on the conditions in which it was photographed. 
* Some local islands have no restaurant, very limited stock in shops and open hours. No local restaurant open in Ramadan July period (Muslim fasting month). Price vary from 25 local money (about 1.6 USD) a meal in local restaurants to 8 USD plus in guest house. No ordering meals from locals as an option. 
* Public ferry subject to holliday schedules, get correct info from ticket office or council, or may end up 4 days no ferry to go out of atoll.
* No ATM in most local islands, if you have taken local currency from ATM in Male or somewhere, spend it or change it to USD before going back to airport, cause the only bank at airport does NOT change money unless you have changed local currency from them at the first place and have a receipt, they have such notice at the counter. Or the information desk can arrange you to change with someone, but with the rate 17 or 19, rather than 15.4. 
* Camping is possible, but not formally allowed, only a favor with no guarantee, depends on how many people, days, and how you ask, go talk directly to the Chief.  
* Very few locals speak English, all the houses have yards with walls around it, going through streets you canˊt see how locals live their lives, it can feel less involved after a couple days. But swing chairs by the beach are where locals more often to hang out.
* Definitely the highlight of entire trip is to visit a sandbank or a long thin stretch of beach, white sand, with water all around or on both sides, surreal and never seen in Hawaii, Bali or Fiji.
* Hanifaru Bay in Baa Atoll is a UNESCO site with high concentration of Manta rays and Whale Shark in certain season, as seen on Google Earth, full of little islands and sand banks in interesting shapes. Latest ferry schedule only Mon, Thurs, Sat, will be great if it works out. 
* From the local island you can take day tour to resorts, entrance costs around $150 USD (required to use against lunch, water activities, etc) plus around $30 USD for boat transfer, not a budget for backpackers. But for the people staying in resorts may consider a ferry to near by inhabited island then speedboat pickup, will save significantly .
* No dorm anywhere, very few or no travellers on local islands in low season.  Cheapest guest house cost around  $40 USD all tax included no meals, some require a 7 days full board package over $1000 USD. 
The budget travelling industry in Maldives is in development. Pricewise it's still high compared with what things actually cost locally. Also, you can find accommodation at a similar looking local beach in Gilis next to Bali, or Tavueni (nice and clean) in Fiji for only 10 USD, and resorts (not luxury) in Yasawa Fiji (northest the prettiest) full board and organized activities for $50 USD, and meet more backpackers even in low season. It is said that guest houses in Maldives started after the 2004 Tsunami to bring money to local islands, but the guesthouses are all privately owned. (It would be nice if it works out a more beneficial way for both locals and backpakers, like Lavena Lodge in Tavueni, Fiji, which was fund raising and profits shared by the village, self cooking in kitchen or local meal paid directly to the family, with whole village being much more tourist familiar and welcoming (don't know if it's culture difference), travellers can not just visit but live the simple island life, from going around seeing/joining what they do, to the kava and fundraising nights where whole village gathers together.) .

(Information only based on traveling in 4 Maldives local islands in July 2013, hope to have something valuable to share.)