We always hangout at AJs when we go to Destin in the summer but I was just searching for New Years myself and found that they will have a New Years party and included the link. Looks like a great deal. No cover and they have great food plus they will have fireworks. Their deck over looks the water and all the boats and the bands are always good. We will be driving all the way from Savannah to Destin for New Years and I can't wait. Try the Boat House, the Back Porch, and Mcguires for lunch. They all have great food and atmosphere.
http://www.ajs-destin.com/no.ajs.html