There are many 5 star beach resort in Cebu but these are good if you have budget. The famous resort known as Cebu beach club is still open and day use only so they accept an entrance of P150 for now. Other known resorts are proven to be expensive like BE Resort, Maribago Blue Water, Crimson Hotel, MovinPeak and the Imperial palace.
So for visitors looking for less expensive resort with white beach and clean water then go to Alcoy and find Tingco Resort.
Here is the video and some photos.