Overwater bungalows weren't always a luxury status symbol. Here's how the accommodation turned into an $8,000-a-night vacation.

• Overwater bungalows originated nearly 60 years ago in Tahiti.
• The first rooms cost $240 a night. Today, experts say they're a staple in the luxury travel market.
• The accommodations have since expanded in region, size, and amenities.

The first overwater bungalow had a thatched roof, a small window peering into the ocean, and a wooden ladder leading into the water.

Fast-forward 60 years, and some overwater villas now feature multi-story water slides, infinity pools, and personal butlers — and they can cost upwards of $8,000 a night at some of the world's ritziest resorts.