Summer 2017: Toronto Islands closed until July 31, 2017, due to the flood. Event permits cancelled, ferries can be used only by residents, or Rectory Café customers (and a few other businesses' such as some tours) with proof of reservation.
The adventure starts before you even reach your destination when you go to Toronto Islands because a 15-minute ferry ride is the only way to get there. The first time we hopped on the ferry, my little sailor was tickled pink, unsure whether to check the panorama view of the CN Tower and the tall buildings close to it, look at the planes taking off from the airport, gaze at the white sailboats manoeuvring on Lake Ontario, or to simply explore the bridges on the ferry. There are three ferry boats serving the Islands.
The ferry that reaches Centre Island brings you closest to the Centreville Amusement Park and the bicycle rentals. It is the most popular, crossing every 15 minutes on weekends (for most of the day on summer days). The Hanlan's Point ferry services the western end of the Islands (and is the closest to the "clothing optional" beach). Ward's Island ferry reaches the eastern point. It is where residents live, in a carless environment. It is the closest to Ward's Beach and the Rectory Café. If you intend to use your bike, note that the Centre Island ferry won't allow bikes aboard on summer weekends but the other two ferries always welcome them.