There are actually two beaches in Phuket named Banana Beach. You can read about the other one here. And this one is located on Ko He island.
To get to this beach you can rent a longtail on Rawai beach, the trip will take about 20 minutes.
The island charges from 100 baht per adult. Sun loungers, free showers and toilets are available here.
The beach is located right next to Coral Beach, but it has a few differences.
Firstly, Banana Beach is smaller than Coral, but it doesn’t make it less entertaining.
Secondly, there are more corals and underwater inhabitants. Here you do not have to swim far to see colored fish, they are literally just two meters away from the shore.
The territory is well-maintained, everything is made in the same style of wood and straw. There are cafes, shops, massage, several areas for photos and sky swings. If you climb up the jungle path, you can come out to a small viewpoint.
Be sure to visit this place if you like snorkeling, want to see hornbills or just enjoy a piece of paradise.