I have been staying on this island for about 2 years, and would like to remind everybody something : working remotely is illegal in Thailand, and can get you in serious troubles if you do any kind of work without a work permit. There has been in the past reported cases of arrests in so called "co-working spaces". I think it is only a fair warning to people who plan to come here and hang in co-working spaces. 2 years ago koh phangan did not have a good rating on nomad list, not much as changed since, but i've seen over this time a group of european businessmen investing in many facilities for digital nomad, they are now craving for customers and massively trying to market the island as a digital nomad heaven.
That being said, for anyone aware of the risks, it is an amazing place to live, nature is beautiful and you will find wifi ranging from wacky to high speed depending on your location on the island, and mobile internet is really handy and cheap. Because of tourism, it is also one of the most expensive places in Thailand when it comes to food and housing, which makes it difficult for thais to move in, but you will find the local families who have been staying there forever and others who come for jobs in tourism. There is a big hippie/yogi community here and a lot of activities around this. And of course, it is a party island.

This island is a total gem. It has everything one desires in a paradise island! There is a huge higher consciousness/yoga/meditation/vegetarian/vegan community plus epic full moon and half moon parties, omg totally worth checking out! And the internet connectivity and speed on the island is good too. I've had no problem doing work from my laptop as a Digital Marketing Specialist either.

- Mobile internet is great, Wifi heavily depends on your place
- A scooter is needed to get around, but that's easily organized and not too expensive
- For people coming from Chiang Mai, expect things to be at least 50% more expensive
- The food is great! Not as cheap as in other places in Thailand (although cheap street food can be found), lots of vegan and health-oriented restaurants
- Cafes are of decent quality, there are definitely some in which you can get work done, although they close early (most around 6-7 pm). The coworking space situation has massively improved in the last year and although I don't want to advertise here you'll figure out what I mean by a quick Google search

Although the island is small, it heavily depends on your location and yourself what kind of lifestyle you can live here:

You could stay around Haad Rin and permanently live for the party (not recommended if you are actually a Nomad and intend to work, although it can be a lot of fun once or twice).
You could stay around Sri Thanu and live a perfectly healthy lifestyle, working out, doing Yoga and meditating, this could be a very good experience, but mind that people there are usually quite spiritual (or pretend to be), so it's up to you.
You could live in the main village in Thong Sala, but I honestly don't see the point of doing that, as it's the most polluted area, so only stay here for budget reasons.
You could stay in the very east of the island (Haad Yang) or in the very north (Chaloklum) and enjoy the laidback experience, although you might need to commute quite a while to get to any workable place.
If you stay anywhere else on the island, it's about the same experience as in other places in the South of Thailand, so I would say medium-level touristy but very convenient and doable for anybody.
Some places are not listed here and they kind of have their unique vibe, I'll let that to you to find out ;)

I personally recommend sticking with one place and one lifestyle here on the island. It's quite tempting to jump into something else, but for me, it is sometimes a huge distraction and quite bad for my overall productivity and happiness switching between those different lifestyles. That's why I developed some kind of love-hate relationship with the island. The only other place with such vast differences between spots I found so far is Bali.

Spent a lovely two weeks in Hin Kong in a guest house. Only had a car for a week. You can get around without a car on the songthaews, but they are overpriced. Scooter is better, they are cheep and easier to park. The island is mellow and very relaxed. A great place to escape. Internet is very reliable.

A really great island. One week before the full moon party it's full of tourists, and a great place to be single. After the party, it empties out completely except for locals, couples and expats. You don't need to go to the party and if it's not your thing you won't really notice. Still lots to do if you have a scooter and make some friends.

It's not as touristic as Samui or Koh Tao. A scooter is absolutely necessary. If you can't drive you'll need a friend who can. There's a small nomad community and a couple of co working spaces. Overall it's a lovely island with many different scenes.