Here's a quote from Asiahotels.com:-

Wet Season - The southwest monsoon brings wind and rain and it is a good idea to try to avoid the Maldives during this time - particularly June and July when the weather is extremely stormy with torrential rainfall.

And from Maldiveisle:-

Generally the southwest brings more wind and rain in June and July. The temperature rarely falls below 25°C (77°F). The best time to visit is November to April.

Usually July has short-lasting but HEAVY rainfall - typically an hour or so. Temperature stays pretty much constant in high twenties or low thirties - but soggy underfoot (who cares - you'll probably be living in flip flops or bare feet anyway!!)

A couple of years ago we travelled last week of July and first of Aug (Meeru and Bandos) and we did lose a couple of whole days the first week to persistent and extremely heavy rain which came with some fairly strong winds as well. It was noisy overnight with rain pounding on our beach villa and, although umberellas were provided, managed to get soaked on the way to dinner at night - then sat watching everyone else steaming in unison in the restaurant!!

If you are going just to soak up the sun on the beach it may be better to try to avoid June-Mid July but if it is essential that you travel then, perhaps pack some light entertainment (pack of cards etc) for when/ if it does decide to rain. We've happily sat through some heavy rain in the pool and bar, but are divers so - unless (as on Meeru ) the weather forced cancellation of diving - we are usually in the Maldives PLANNING to be wet anyway.