[1] The suburb is a residential area surrounding the artificial canals of Clear Island Lake and Boobegan Creek.

[2] The area that is now Clear Island Waters was a dairy community in the south and rural wetlands in the north in the early stages of the 20th century.

[citation needed] In 1967, when property developer Bruce Small, who became Gold Coast Mayor later that year, convinced a group of golfers to purchase his 92-acre landholding at Cypress Gardens for $43,240 to build the Surfers Paradise Golf Club.

[4] In 1986, St Vincent's Primary School relocated from Surfers Paradise to Clear Island Waters and the Sacred Heart Parish Church was opened next to the primary school after the parish priest Dr Owen Oxenham initiated the move.

75.7% of people spoke only English at home; the next most common languages were 4.3% Mandarin, 2.2% Cantonese, 1.6% Japanese, 1.2% Italian, 1% French.