I’m not overly interested in the deal for myself since I was in the Bahamas over New Year’s and the Carribean isn’t my favorite, but it’s a great deal nonetheless.

I first saw it a week ago at Frugal Travel Guy and now there’s a Flyertalk thread.

The deal is this: book an Expedia vacation package to the Bahamas with a minimum four night stay using coupon code BAH400 for up to $400 off. Coupon is valid through May 10, 2010, for travel completed by December 22, 2010. March 19, 2010 through April 10, 2010 are blacked-out.

Make sure you uncheck the ground transportation box (on the 3rd page of the booking process).

There are packages from Ft. Lauderdale to Freeport, hotel and air, that price out at $0 with this coupon. From DC I’m finding $200 all-in. Of course that’s for resorts I don’t really want to stay at. But nonetheless, since there’s no minimum spend on the package, $400 off is a great deal.

Update: Dan’s Deals breaks it down with a sample from Ft. Lauderdale to Freeport, Bahamas (Nassau will work, too, but this uses especially cheap starting point and cheap hotel in Freeport to get the $0 price):

Step 1: Click on this link to Expedia Vacations.

Step 2: Type in your origin city, for this example I’ll use FLL (Fort Lauderdale)

Step 3: Type in FPO (Freeport, Bahamas) for you destination city.

Step 4: Type in your travel dates. For this example use 04/11-04/15.

Step 5: Change from the default setting of 2 adults to 1 adult and then click “search for packages.”

Step 6: Locate the $399 “Island Palm Resort” and click “Select and continue.”

Step 7: Scroll down to the bottom of the next page and click “Continue booking this package”

Step 8: Uncheck the “Roundtrip Shuttle Ground Transportation” that added $31.50 to the package.

Step 9: After unchecking that option scroll down to the bottom of the page and click “Continue booking this package”

Step 10: Sign into your Expedia.com account or continue as a guest.

Step 11: Enter the passenger information and then click “Proceed to booking.”

Step 12: Scroll down to the bottom of the next page and click “Accept rules and continue”

Step 13: Scroll down to the billing info and click “I have a coupon”

Step 14: Use the following coupon for $400 off and then click “Apply and Reprice”: BAH400

Step 15: The new total will be $0. You still need to enter in credit card and billing info and click “complete this booking!

Step 16: Enjoy the Bahamas!!!