Puerto Cayo

From Manta there are frequent buses from the main terminal ($2.90, 90min.)

Though everything is in a walking distance, there are inexpensive mototaxis ($0.50).

• Isla de la Plata. Isla de la Plata offers some spectacular wildlife like boobies and sea lions. Though it is closer to Puerto Cayo then to Puerto López it is usually accessed from the latter. Very few fishermen in Cayo have a license to dock at the island. Tourists usually don't try to get to Plata from here so you would need to rent out an entire boat which might not be an option for you unless you arrive in a large group. 
• Isla de Cayo. Local fishermen can take you the island that you see out on the water towards the south. $5 per person. (updated Feb 2017)
• Go Fishing. Local fishermen sometimes offer tourists to take them out with them in the morning when they go fishing. They leave in the early morning and come back by noon. Their boats are not covered so wear a hat, sunglasses, a long-sleeved top and sunscreen. (updated Feb 2017)

• Señora Lula (From the northern end of the main square walk uphill for about 400m (0.25mi)). 16:00-21:00. Lula sells freshly prepared empanadas ($0.50) and softdrinks ($0.50) in front of her house and is always happy to chat with customers. The empanadas with plantain filling are spectacular. $0.50. (updated Feb 2017)

• Jhonny (along the Southern part of the beach). He runs a small restaurant behind Restaurante Juliana. Since he only opens at the peak of the high season, he lets backpackers stay in the restaurant all the time while it is closed. He is often drunk but perfectly harmless and might just start chatting with you if you sees you wandering around near the restaurant. $0. (updated Feb 2017)
• Camping at a palapa at the beach (At the northern end of the malecón, just south of the river.). There is a palapa where you can pitch a tent. You can use the restrooms and showers of the bar next to it. $2 per person. (updated Feb 2017)

• Hostal Los Frailes (on Calle Malecón) runs a restaurant with an excellent WiFi (8MBit upstream.) The owner is well known to be unpleasant with guests and might angrily kick you out without prior warning when he feels that you did not order enough drinks (Pilsener $2.50 + random charges for the WiFi that you can refuse to pay.)

• Puerto López is a short bus ride south. It is a much more lively and touristic town than Puerto Cayo and offers tours to Isla de la Plata and Isla de Salango.