Maderas is now officially a national park, which will hopefully encourage preservation of the thick forests. Maderas is a pleasant volcano to climb, since you hike in the shade, and is less demanding than its truly active twin, but a guide is now obligatory since a pair of hikers got lost and eventually perished on the mountain.
But even if you’re not a peak-bagger, there’s lots to do here, starting with a visit to the fields of old petroglyphs [1], a relic of the island’s Nahuatl past; dipping into the natural springs at Ojo de Agua [2]; sunning and splashing at the beach at Santo Domingo [3]; mountain biking down the rutted roads to take a coffee tour, horseback ride, or kayak trip.
In addition, a host of unique places to stay (many based on working farms [4], some using permaculture and principles of environmental sustainability) are fun and interesting.
Links:
[1] http://www.moon.com/destinations/nicaragua/ometepe-and-rivas/la-isla-de-ometepe/volcan-maderas-santa-cruz-balguee/petroglyphs-ometepe
[2] http://www.moon.com/destinations/nicaragua/ometepe-and-rivas/la-isla-de-ometepe/el-ojo-de-agua
[3] http://www.moon.com/destinations/nicaragua/ometepe-and-rivas/la-isla-de-ometepe/playa-santo-domingo
[4] http://www.moon.com/destinations/nicaragua/ometepe-and-rivas/la-isla-de-ometepe/volcan-maderas-santa-cruz-balguee/finca-magdalena