At the top of the hill, Moyogalpa [1]’s Catholic church is charming, with a bell tower just high enough over the tree line to afford you a great view of the town, coastline, lake, and the statue of a boy urinating.
La Sala Arqueológica (or El Museo), located toward the top of main street, has a small but interesting collection of pre-Columbian artifacts found on the island over the years. Owner and amateur historian Herman García and his wife Ligia are very knowledgeable about island history and lore, and can point you to local artisan communities. The store in front of the museum sells contemporary works.
Links:
[1] http://www.moon.com/destinations/nicaragua/ometepe-and-rivas/la-isla-de-ometepe/moyogalpa