Stayed at the Makadi Spa hotel at the start of October (review is still sat pending approval for some reason!), and did a fair bit of off the beach snorkeling.
The reef directly in front of the Makadi Spa entrance gate is not so great. It's mostly rock with some dead coral, and quite cloudy water, but still worth a look, and good for beginners since it's so shallow.
3 minutes walk to the left (towards Makadi Palace), or 3 minutes walk to the right (towards Sunwing) both offer much better snorkeling. It's also possible to walk along the beach down to other hotels (fort arabesque, etc.) but to be honest it's not really neccessary.
Here is a video (including a few photos) for those interested in what the reef here is like. Highlights include a loggerhead turtle and a big ball of catfish:
(choose the 720p option for best quality)
Happy to answer any questions. :)Edited: 24 October 2012, 22:36