Both of these seem to come out to the same pricing for 5 nights with transfers for a Water villa.
What would be your recommendation?
I prefer both Diamonds over Cocoon. They are smaller and come with a reef and a more Maldivian feeling. If you like a bigger island with more options, then perhaps Cocoon would be the better choice.
Thudufushi has the nicer water villa of both resorts. We stayed there some days in 2016. You are entitled to the overwater restaurant which serves only à-la-carte.
Michaela from Reisser Travel