There are two places to take a ferry/boat over to IM. One is in "el embarcadero" which is inside the hotel zone, close to Temptation resort, and the other one is puerto juarez which is outside the hotel zone. If I remember correctly, it costs a bit more to go from El Embarcadero, and the last returning ferry is around 5 or 6 pm. There is a bus, I think R2 that will take you to Puerto Juarez and back. Also if you plan to tour IM, do some snorkeling, etc, you might consider this package, http://islandertour.com/Islander/all.htm The regular price is $78, but right now it can be found for about $49. It leaves from the Q Bay hotel, which is very close to Temptation.
Wait a minute guys. There are some factual errors here by my buddys Cancun Canuck and Cancun With Me. Gran Puerto and Puerto Juarez and not the same thing, but they are in the same area. Gran Puerto is the newer port, with a multi deck parking garage and new boats. It is under the tower looking thing that looks like an observation deck but is really a not so good restaurant. I guess you could say that Gran Puerto is at Puerto Juarez, but there is a port called by the same name. Puerto Juarez is 100 yards or so farther to the north and its boats aren't so nice. The ferries from the hotel zone, are about double the price of going from Gran Puerto. And the bus between the Hotel Zone and the Puerto Juarez area is the R-1, not the R-2. And you need to look on the front of the R-1 bus to make sure it says Puerto Juarez as I am not sure that all of the R-1's go all the way there. But they do stop in front of both ports (GP & PJ) and pick up across the street from both ports to take you back to the Hotel Zone. I would recommend the GP route as opposed to going from the HZ. It is interesting to go downtown and riding the boats with non tourists. Sort of like a quick immersion in local culture. The 4 person big seat golf carts typically go for $450 per day but you can get less in the slower times of the year, like now. I went a couple of months ago and got one for $350 but I rent there often. If V got one for $400, that's a good deal normally. As you get off the boats there will be guys trying to get you to rent their golf carts or mopeds, or you can wander around as there are plenty of places. Good luck to all.
Hi T.J. or anyone else that can answere. I was in Cancun last week and tried to used your instructions above to get to the Ferry Crossing in Puerto Juarez. (I have doen this before , but it was a couple a years ago and it is nice to have a refresher.) We took a R1 bus that said Puerto Juarez on the front and I also aksed the driver if he dropped off at the Ferry Crossing. He said yes. We did not make it to the Ferry Crossing, but ended up being told to get off the bus a mile before the highway overpass crossing. (Nothing a quick cab ride didn't solve.) We noticed our bus turned around and got in a line that looked like all the buses were waiting to head back to the Hotel Zone. My problem was when we returned from the Island we headed across the road to the bus stop to catch a bus back to the Hotel Zone. We waited for almost a 1/2 hour with no bus showing up. (We seemed to be the only tourist.) Finally one of the young men waiting for a bus asked us if we were trying to get back to the Hotel Zone and I said yes. He informed us that the bus we got on would only take us to the bus station and not the Hotel Zone, and we would have to change buses. After waiting 10 more minutes and arguing about buses my friends, we ended up taking a cab. After my long winded story, my questions are, did something in the bus routes change? I do not recall having to switch buses the last time. I am sure we hopped a bus that went back to the Hotel Zone.