An hour of water-skiing can cost as little as $35 or as much as $65. Caletilla Beach, Puerto Marqués Bay, and Coyuca Lagoon have facilities. The Club de Esquís, Costera Alemán 100 (tel. 744/482-2034), charges $50 per hour.

Scuba diving costs $40 for 1 1/2 hours of instruction if you book directly with the instructor on Caleta Beach. It costs $45 to $55 if you book through a hotel or travel agency. Dive trips start at around $40 per person for one dive. Two reputable shops, both near Club de Esquís, are Aqua Mundo (tel. 744/482-1041) and Divers de México (tel. 744/483-6020). Boat rentals are cheapest on Caletilla Beach, where an information booth rents inner tubes, small boats, canoes, paddleboats, and chairs. It also arranges water-skiing and scuba diving.

For deep-sea fishing excursions, go to the boat cooperative's pink building opposite the zócalo, or book a day in advance (tel. 744/482-1099). Charter trips run $150 to $200 for 6 hours, tackle and bait included, with an extra charge for ice, drinks, and lunch. A fishing license costs $9. Credit cards are accepted, but you're likely to get a better deal by paying cash. Boats leave at 8am and return at 3pm. If you book through a travel agent or hotel, prices start at around $200 for four people.

Parasailing, though not free from risk (the occasional thrill-seeker has collided with a palm tree or even a building), can be brilliant. Floating high over the bay hanging from a parachute towed by a motorboat costs about $37. Most of these rides operate on Condesa Beach, but they also can be found independently operating on the beach in front of most hotels along the Costera.