The Maldives may be sinking and stymied by political instability, but that hasn’t stopped upscale resorts from cropping up in the world’s lowest-lying nation. Viceroy Hotels & Resorts is the latest to set up an outpost in the archipelago, with the recently opened Viceroy Maldives, its first Asian property, occupying a tiny crescent-shaped island in the country’s northern fringes. New York firm Yabu Pushelberg took charge of the design, whose slick, monochrome modernity is tempered with rustic materials such as leather, untreated wood and canvas in a nod to the island setting. The Rooms: The resort’s 61 villas are some of the largest in the Maldives, starting at 1,300 square feet. Inspired by the hull of a local dhoni, or fishing boat, all offer plunge pools and outdoor space—all the better to take advantage of the beach outside your door (32 of the accommodations sit directly over the water). Nestled in the Shaviyani Atoll, the property sits on the white-sand-fringed island of Vagaru, which stretches to 17 acres. But while there’s something to be said for whiling away your vacation on an outsize daybed, you won’t want to miss your underwater surroundings, which teem with colorful reef fish, stingrays, and soft and hard corals. Though there are five dining options on-site, for the best sunset views, head to the Treehouse, which serves up Moroccan mezze. Getting There: The resort will arrange the 50-minute seaplane transfer from Ibrahim Nasir International Airport in Malé, the Maldives’ capital. Transfers cost $550 per person each way. Viceroy Maldives, Vagaru Island, Shaviyani Atoll. Tel.:+960 654 5000. From $1,350 per night including breakfast (full board add $187; half-board add $128). Fom/WSJ