If you get tired of diving and swimming take a bus south to Badan and take the 1.5km walk to Kawasan Falls, there are actually 3 of them. There is now an expensive resort there so take your own food and drink. Cottages and rafts are available to rent, or you can stay overnight. The first falls are by far the biggest with a deep clear pool. There are plenty of handicraft stalls, best not to visit at the weekend as it is crowded with locals. The photograph was actually taken at the second waterfall, where there is a rock in the middle. This was 23 years ago on my fisrt visit where 10 pesos was enough for a beer and a pack of cigarettes!
Hire a mountain bike from Planet action which is at the southern end of the beach area. I got a good quality mountain bike and explored the villages north and south of Moalboal. Theres loads of places selling drinks if you forget to stock up.
There's not much else to do apart from diving. But the diving's good (altough there weren't many different diving spots in 1998); although this was before the big El Nino year. I have no idea how much the area was affected by this natural desaster.
Panagsama beach is 4 km from a real beach. So you're here for ONE reason!!! Diving! The wall dives at Pescador Island are outstanding and the coral reefs up and down the coast are also really good.
There are at least 10 dive shops and at least 10 good dive sites - so get in the water!
Learn Freediving in Moalboal, Cebu. Diving on a single breath of air. Everybody can learn it. Check Website for more infos.