The desert-like (xerophytic) vegetation of the essentially barren island includes a number of cactus species such as Cardón de Dato (Ritterocereus griseus), Buche, Melón de Cerro, Sabana o Monte (Melocactus caesius), Guamacho (Pereskia guamacho), and Opuntia tuna as well as a few legumes (family Fabaceae) such as Mesquite (Prosopis juliflora), Divi-divi (Caesalpinia coriaria), Poorman's Friend (Stylosanthes viscosa), and the Sangre Drago (Croton flavens).

It is served by ferries and other boats from Punta de Piedras, the capital of the municipality of Tubores located 8 km (5 mi) to the northeast on Isla Margarita.

The boat landing pier is located at the eastern end of Playa Charagato, the main settlement of Cubagua.

When it was realized that the Lucayan people of Bahamas were practiced at diving for conchs the Spanish sent to the Isle of Cubagua as pearl divers.

In combination with the discovery of new pearl oyster beds on the Guajira Peninsula, this led to a decline of Nueva Cádiz.

The complete exhaustion of the pearl oyster beds of Cubagua in 1857 determined the definitive abandonment of this island and from then on it would be visited by fishermen who would improvise ranches.

[7] According to an unofficial population census conducted by the Instituto del Patrimonio Cultural in August 2007, the island had 51 residents of which 19 were children.

The population resides in the following 4 communities in the island's northwest: In addition, on some maps a settlement called Punta Arenas appears in the Southwest.

In 2015, Venezuelan director Jorge Thielen Armand made a short documentary about the island of Cubagua, Flor de la Mar.