First: Casa Iguana is a very nice place to stay. The location with the restaurant overlooking the beach and the beach itself are great. The garden is well maintained and the rooms are clean.
For us, a young backpacking couple, it still wasn't the best option on the island. Since the rates for the cabanas and casitas are quite high (35 Dollars for a Cabana with shared bathroom and 65 Dollars for a Casita with private bathroom) compared to other locations on the island, it attracts more well situated (and elderly) people rather than young travelers. The food in the restaurant is quite expensive as well (6 Dollars for breakfast, about 15 Dollars for a dinner). As a consequence the restaurant which actually would be a nice place to meet and chat with other people, stays pretty calm and unused.
If we would come back to Little Corn island we would rather stay at Elsas Place or Cool Spot, which are on the same side of the island with a similar setting as Casa Iguana, have nice (cheaper, from 15 Dollars) cabanas as well and have got a steady stream of young backpackers.More