Montezuma's beaches are the best for beginner surfers. In general, the Malpais side of the peninsula has better, more consistent waves, but the Montezuma side has its great spots as well.
There are two canopy tours in the area. The Montezuma one is shorter, but it includes a swim in the world famous Montezuma Falls. The Malpais canopy tour is longer and higher. These should really be called "Jungle Zip Lines" because the tour is all about zipping through the canopy rather than learning about it. But still, they're very fun
Many have found the diving here to be the best on the Pacific side of Costa Rica. There are many large fish, rays, turtles, eels, etc in the area. There is a wreck off Cabuya, and in August you can see whale sharks. There are many places in Montezuma to book a scuba trip.
If you've visited the area before, you've probably had your eyes and ears assaulted by groups of incredibly loud 4-wheeled motorcycles known in Costa Rica as quads. They arrive with the sound of thunder and lightning, flattening lizards and all other small animals in their path, and causing children and monkeys to cry in fright. If you can't beat them, join them and live out your Easy Rider fantasies in style.
Montezuma frequently has humpback whales, orcas, and other types of whales frolicking in the waves right offshore. A great place to look for them is at Hotel Amor de Mar, or walk up the hill from the hotel and climb out to a bluff with ocean views above. They can be seen almost any time of year.
Cabo Blanco National Park
Cabo Blanco has an amazing story behind it. It was the first national park in Costa Rica, founded by two Scandinavian immigrants who lived for years in Montezuma, and are buried here. Most of the park was originally cow pasture, but for over twenty years was allowed to grow back. No tourism was allowed in the park. Now there's a single trail through the park to a rugged and wild beach on the other side. Its a two-hour hike each way. Don't expect to see any animals unless you arrive first thing in
Montezuma has a great butterfly garden. Here you can see the amazing 'blue morpho' and other butterflies. It's also a bed & breakfast, and the owners know a secret path to easily get to the rope swing at Montezuma Falls.
Horseback Ridding Tour
Until 20 years ago, travel by horse or by foot was the only way to get around this part of Costa Rica. If you're looking for an amazing horseback adventure, there are many options. One of the best is to ride to Cocolito Falls from Montezuma. Another is to ride from Cabuya overland to Malpais for a sunset dinner at Mar Azul, then back.
Take a sea kayak trip out to mysterious Cabuya Island and go snorkeling at the fan reef there. This is a spectacular trip and one of the best things you can do in the area. You may even see whales, which are frequently in these waters. Sea kayaking is easy, so don't worry if you haven't done it before.