Here are highly regarded 5-star Maldives resorts known for their over‑water villas (name, atoll/location, standout feature and typical transfer). I included official or high‑quality sources you can check for current rates and availability.

1. Soneva Jani — Noonu Atoll. Ultra‑spacious, iconic water villas (some with slides and private pools); secluded, low density. Transfer: domestic flight + speedboat seaplane/private transfer options from Malé. (Soneva.com)

2. Gili Lankanfushi — North Malé Atoll. Rustic‑chic, eco‑luxury with the famous Private Reserve (massive overwater residence) and “Mr/Ms Friday” butler service. Transfer: 20–30 min speedboat from Malé. (gili-lankanfushi.com)

3. Anantara Kihavah Maldives Villas — Baa Atoll (UNESCO biosphere). Overwater pool villas, underwater restaurant (SEA) and overwater observatory (SKY). Transfer: seaplane. (Anantara.com)

4. Conrad Maldives Rangali Island — South Ari Atoll. Famous for The Muraka (partly underwater residence) and Ithaa underwater restaurant; classic luxury overwater villas. Transfer: domestic flight or seaplane depending on route. (cntraveler.com)

5. Joali Maldives — Raa Atoll. Design‑forward resort with art, large overwater residences and family options; strong wellness and culinary program. Transfer: seaplane. (Joali.com)

6. One&Only Reethi Rah — North Malé Atoll. Spacious overwater villas set on a large private island with extensive activities and villas with private pools. Transfer: speedboat. (oneandonlyresorts.com)

7. Waldorf Astoria Maldives Ithaafushi — South Malé Atoll. Large, modern overwater villas including multi‑bedroom overwater residences and a private‑island offering. Transfer: ~30–40 min speedboat or private yacht. (waldorfastoriamaldives.com)

8. The St. Regis Maldives Vommuli Resort — Dhaalu Atoll. Signature ultra‑luxury overwater estates (e.g., John Jacob Astor Estate), strong design and butler service. Transfer: seaplane. (Marriott.com)

9. Four Seasons Resort Maldives at Landaa Giraavaru — Baa Atoll. Renowned for marine conservation, luxurious overwater villas and marine experiences (manta ray excursions at Hanifaru Bay nearby). Transfer: seaplane. (vogue.com)

10. Joali Being / Joali (sister properties vary) and other top picks to consider: Cheval Blanc Randheli (Noonu Atoll), Velaa Private Island (Noonu), Raffles Maldives Meradhoo (Gaafu Alifu) — all offer overwater villas and ultra‑luxury experiences; transfer types vary (seaplane, domestic flight + speedboat). For specific villa types and transfer logistics check each resort’s official site. (vogue.com)

Notes:

• “5‑star” branding and exact villa categories/prices change frequently — check the resort’s official booking page for up‑to‑date rates, package inclusions and exact transfer arrangements. (I cited each resort’s official or authoritative page above.) (Soneva.com)
• Transfer: most luxury overwater resorts require seaplane or domestic flight + speedboat; a few (closer to Malé) are reachable by speedboat only.
• If you want, I can narrow this to: best for honeymoon, best for families, best value, or compare 3–4 resorts side‑by‑side (rooms, transfers, sample nightly rates and activities).