Around Lake Atitlan can have many activities such as hiking, volcano tour, bike tour, tour in the villages, coffee tour,birdwatching tour,trek around the lake, kayak adventure, cultural tour by village around the lake.
There are a number of activities you can do on the water, such as kayaking rent from Casa del Mundo below, or San Pedro la Laguna and jet skiing. Diving is also possible in Santa Cruz la Laguna through the hostel "La Iguana Perdida". Or, if you're not the watery type, there's horseback riding, and hiking galore.
There exists a vague, and at times somewhat precarious, path that encircles pretty much the whole lake. New holiday homes and hotels have restricted some of the access to the lakeside path, but it's still possible to walk it. It's a very rewarding and enjoyable hike. Swim in the beautiful water anytime you need to cool off. Wave down a boat from any of the countless jetties if you get tired and want to return back home.
Another option is a bike tour spending a night in different village around the lake, you can rent bicycles in the Kukulkan Adventure Center, located in the street rancho grande in Panajachel it included helmet and gloves.
Climb the three volcanoes. San Pedro from San Pedro, guided for 100Q. Atitlan and Toliman can be arranged from Pana. It is not recommended to book tours for climbing the volcanoes in Pana. Most of the prices for climbing the volcanoes will be very similar at most agencies around USD40 for San Pedro and they probably collude to keep the price there. However the Pana tour agencies will outsource the work to another tour agency in San Pedro. Agencies in Pana will act as middlemen and take a cut of Q100 to Q200 Quetzales. It is better to approach the agencies in San Pedro directly and cut out the middleman. It is also possible to do the hikes completely on your own for under Q200 approx USD24. bulk of it if the entrance fee to the park for foreigners and the boat fare. Most of the people you will meet on the mountains are indigenous people who will be very nice. It seems safe to hike the mountain by yourself without a guide, but if you hire one you will be helping the local Quiche people. Please bring a plastic bag with you on the hike and pick up any plastic bottles or plastic packaging on your way down. You will be a good citizen of the world. Climbing Atitlan can be done in one to two days.
However you could do it on your own: The best/easiest would be to bike/rent a motorcycle and go from Pana as far as you can. Look at summitpost for detailed description. If you want to commute there, the easiest would be boat to Santiago, and pickup to San Lucas, this will if you carry luggage though incur a lot of hassle from people, so better get a cheap hotel room somewhere and leave as much as you can there before you go. Do it as early as possible in the morning.
Volunteering opportunities! Many of the schools around Lake Atitlán offer built-in volunteering opportunities. For medical students wanting to offer service and gain experience, Hospitalito Atitlán (http://www.hospitalitoati...) in Santiago Atitlán another pueblo on the lake accepts medical students and clinicians. The new Hospitalito Atitlán, scheduled to be completed in November 2010, can mold any volunteer work to fit the skills available carpenters, MBA students, computer work, group volunteering for construction, etc..
