At the Hotel reception you can get many exploring around activities like, crossing the bay with a boat and go to Bolaños Island (world sanctuary to where many kind of different sea births go to nest). Rent a Kayak; get organized for a fishing tour; a lesson of snorkeling; a horse ride or just a tour for dolphins or whales watching.
Remember that the constant sea breeze in some months of the year the bay is the perfect spot if you love kite surfing.