We are currently staying at the Holiday Inn, which is an amazing resort. Scenically it is very beautiful, and the staff are very helpful. It is much quieter than Tonsai Bay which we like.
Today we walked from the Holiday Inn to Tonsai Bay. We had previously been advised against it by hotel staff but decided to try anyway.
It turned out to be a lovely 90 minute walk with some moderate uphill and downhill and several stops to drink and admire the view along the way. The first third of the walk from Holiday Inn, continuing on past the turn off to Phi Phi Village is paved. We followed red and white signs along the whole route which was very clearly marked. We did ask locals to confirm for us that we were on the best route.
We enjoyed a day at Tonsai Bay and took the ferry back (not the long boats, the ferry is much cheaper). Well worth the effort.
You could also take a couple of detours to two lookouts however it was hot and sticky so we decided not to do that.More