Costa Calma has a great beach, but is a good hour from the airport. It is about ninety minutes from the waterpark which is in Corallejo.
I have only been there to spend a day on the beach having travelled down from Caleta de Fuste. My impression was that it is a nice, clean resort, with ample facilities. A few miles down the coast is Jandia which is very nice too, but again mostly German orientated.
If you want brash nightlife and lots of places to go to within a few minutes drive then you will be disappointed. It is somewhat quiet and out the way a bit. However, if you hire a car there are loads of beautiful places within 30/40 minutes drive (on brilliant, quiet roads) to go to.