We took a chance on Exocenia Studios as they were not the most expensive lodging around Oia (pronounced 'ia'). It paid off! The rooms are simple with a full bed and twin bed. Marianna was delightful and very helpful during our stay. It is a small boutique hotel with a lovely garden and from the garden water view. Be sure and ask for a room with a balcony so you can have a water view from your room. There is a frig, 2-burner stove, and dishes.
The breakfast was extra. They served fresh boiled egg, yogurt (with the yummiest muesli), toast, juice, coffee/tea. We shopped at the grocery store at the top of the hill that leads into the pedestrian area of Oia. We took a taxi a couple of times and then rented a car to get around Sorrento one day. Taxis are crazy expensive, but they have market in that Santorini is nothing but hills...sometimes it seems they are always going uphill!