Moalboal has been a backpacker destination since the 90's, and although it has evolved quite a bit, you can still find reasonably priced places by the beach with very friendly staff. Silver Ray is one of these. It offers a fairly varied international cuisine and fresh fish every night which is laid out on a table at the entrance to the restaurant.
Chili is one of the most popular restaurants in Moalboal. It has a terrace directly on the beach from which you have great views at sunset. An ecletic restaurant with chili con carne as their speciality, a more than aceptable dish. They play pretty good music, and also have a pool table.