Situated on Newport Bay just north of the Balboa Peninsula. The island has a post office, fire station, church and park. There are many quaint shops and restaurants. The Village atmosphere is unmatchable. Traditions include old–fashioned parades and holiday home tours. Balboa Island is made up of 3 islands, the Big Island, Little Island and Collins Island. There are about 1459 parcels, many of which are waterfront. The homes are old beach cottages and new custom homes. This is a big tourist area as many homes are for rent. Schools include Lincoln Elementary, Corona del Mar Junior and High Schools.