[2] Starting early in the 18th century, fishermen from Cuba began establishing ranchos, stations for catching and processing fish for the Havana market, along the southwest coast of the Florida peninsula from Tampa Bay to the Caloosahatchee River, possibly including on Cayo Costa.

[3] Tervio (Tariva, Toribio) Padilla, commonly known as "Captain Pappy", settled on Cayo Costa in the second half of the 19th century.

Padilla operated a rancho on Cayo Costa where he and his workers caught and processed fish for the Cuban market.

A cemetery on the island holds the graves of Padilla and his wife, as well as of approximately 30 Cuban fishermen who died in a 1910 hurricane.

[4] Cayo Costa State Park suffered two major hurricane landfalls in recent history.

On August 13, 2004, Hurricane Charley made direct landfall on Cayo Costa as a Category 4 storm.

[5] Then, on September 28, 2022, Hurricane Ian also made direct landfall on Cayo Costa as a Category 4 storm.

The park contains nine miles (14 km) of soft white sandy beaches and 2,506 acres (10 km2) of pine forests, oak-palm hammocks, and mangrove swamps.

[8] Cayo Costa State Park is a major nesting site for sea turtles in Florida.

[13] The southern bald eagle (Haliaeetus leucocephalus) can be found flying about the island or sitting on high trees.

[16] Activities include hiking, off-road bicycling, swimming, kayaking, snorkeling, picnicking, fishing, shelling,[17][18] wildlife viewing, camping, and sunbathing.

Amenities include boat slips,[19] beaches, hiking trails, picnic pavilions, 12 primitive camping cabins and bath house/restrooms.

[21] There are 12 primitive cabins and 30 tent sites available for camping in the park, each with its own picnic table and fire pit/ground grill.