Fort Walton Beach · Condo Building
Island Isla Condos for Sale
Island Isla is a 12-unit condominium at 364 Bluefish Drive on Okaloosa Island, mailed as Fort Walton Beach but standing in unincorporated Okaloosa County.
Updated
1984
Year Built
12
Total Units
Year built, floor and unit figures are as published by the sources cited at the foot of this page. Confirm them against the association's own documents during diligence.
Guest rating
4.9 out of 5
From 592 guest reviews on Airbnb
Across 8 rental listings with guest reviews in this building
- Airbnb 4.9
About Island Isla
Island Isla stands at 364 Bluefish Drive on Okaloosa Island. On the state's 2026 tax roll, twelve condominium units share one outline of about 0.28 acre, numbered 101 through 106 and 201 through 206. Every one carries 1984 as its actual year built and 520 square feet of living area. Two bands of six unit numbers point to two levels, but no story count appears in any record opened for this page, so none is published.
Beyond the condominium itself, the lot sits under recorded island covenants that Okaloosa County administers. Their zone list puts most of Block 3, running from the Gulf to the sound, in B-2, the apartment, hotel court and hotel class. Island Isla's neighbors on Bluefish Drive are recorded as Block 3 lots 105, 106 and 108, all among the lots the covenants list as B-2, and because the tax roll gives the condominium no lot number of its own, that bracketing is how this page places the building. Under those covenants, altering a building needs written plan approval and a county permit, with a leaseholders' architectural committee advising Growth Management. Census boundary records show no incorporated city around the building, which leaves the Fort Walton Beach mailing label as a postal name only.
Florida's condominium statute adds two thresholds that matter at this size. Section 718.112 requires the board of a residential condominium association of more than ten units to meet at least once each quarter, a line twelve units clears by two, and it confines its structural integrity reserve study to buildings of three stories or more. If Island Isla is two levels, as its unit numbers suggest, that study would not apply, so ask the association to state the story count in writing.
On FEMA's flood map the lot is a single Zone AE area with 8 feet as its base elevation, and no zone line crosses it to separate one unit from another. The paper that speaks for a particular home is its own elevation certificate.
HOA & Fees
What is the HOA fee at Island Isla?
As of November 11, 2026, the 2 Island Isla condos for sale that report a fee on the MLS list an HOA fee of $357 a month. Fees vary with unit size and type, so the fee for a specific residence is the one its listing and the association state.
Based on 2 active MLS listings that report an HOA fee. See the listings
The records opened here leave Island Isla's association unnamed, with no declaration, budget or filing in hand, so its manager and what its charges cover stay open. Two outside rules frame it: the statute's quarterly-meeting rule for associations above ten units, and the island covenants that route building alterations through Okaloosa County Growth Management. A seller's account of the building should be checked against four papers: the recorded declaration, the current budget, the insurance summary and the last few sets of board minutes.
Rental Policy
Short-term rentals: allowed. Confirm the current minimum stay and registration with the association.
Because of state preemption, a short county memo says, Okaloosa County cannot ban or time-limit short-term rentals. The island's B-1 residential lots are the one exception. The covenants list the Block 3 lots around Island Isla as B-2, so that exception was written for other ground. That is a covenant finding only. It does not speak for the Island Isla declaration or board. Until someone reads that declaration, its stay minimums, caps and approval rules are unknown. Any leasing clause would sit in the declaration or its recorded amendments. Request both from the association.
What guests say about staying here
Airbnb ratings for the vacation rentals in Island Isla.
4.9 out of 5
592 reviews across 8 reviewed listings
- Airbnb 4.9 from 592 reviews on 8 reviewed listings
What Airbnb guests rate
- Cleanliness4.9
- Accuracy4.9
- Check-in5.0
- Communication4.9
- Location4.9
- Value4.9
Guests rate check-in highest.
These ratings describe the vacation rentals in this building, not any one unit for sale.
Market data by Key Data · 8 units tracked in this building · Nov 2025 to Nov 2026
Live Inventory
Active Listings at Island Isla

$198,900
364 Bluefish Drive Unit 203
Fort Walton Beach, FL 32548

$219,900
364 Bluefish Drive Unit 202
Fort Walton Beach, FL 32548
The short-term rental badge above is not a permission of record. It reflects the MLS short-term-rental field where a listing discloses one, and otherwise where the home sits. Confirm the association's current rules and the local registration requirement before relying on it.
Building Answers
Island Isla FAQ
How much is the HOA fee at Island Isla?
As of November 11, 2026, the 2 Island Isla condos for sale that report a fee on the MLS list an HOA fee of $357 a month. Fees vary with unit size and type, so the fee for a specific residence is the one its listing and the association state.
Is Island Isla inside the city limits of Fort Walton Beach?
No. Okaloosa County governs the ground, whatever the Fort Walton Beach mailing label suggests, because Census boundaries place no city around this lot. That is why the covenants and the rental memorandum cited here both come from the county.
What size are the units at Island Isla?
The state roll records 520 square feet of living area for each of the twelve units, numbered 101 through 106 and 201 through 206, all with a 1984 build year. Next door, Island Palms is recorded at 790 to 821 square feet and Island Breeze at 1,009 to 1,044, so a nearby average mixes in larger floor plans.
Do all twelve Island Isla homes share one FEMA flood zone?
Yes. Zone AE, with a base elevation of 8 feet, covers the entire lot on FEMA's national layer, so the map cannot tell one unit from another; each home's own elevation certificate can.
What do the Okaloosa Island covenants say about renting at Island Isla?
The covenants bar renting to transients in B-1 private residential areas, and the county's memorandum treats that as the one exception to Florida's preemption. They list the Block 3 lots around Island Isla as B-2, so the bar is not written for this block. The building's own declaration is a separate document and was not opened.
Does Island Isla need a structural integrity reserve study?
Section 718.112 says its reserve-study paragraph does not apply to buildings of fewer than three stories. Island Isla's unit numbers suggest two levels, but no recorded story count was found, so ask the association to state the number of stories in writing before assuming the study is excluded.
Sources
- Florida statewide parcel roll, Island Isla and neighboring condominiums, 364 Bluefish Drive (accessed October 17, 2026)
- Census place boundaries at Island Isla's point (accessed October 17, 2026)
- FEMA National Flood Hazard Layer at Island Isla's point (accessed October 17, 2026)
- Okaloosa Island protective covenants, recorded in Official Records Book 121 (accessed October 17, 2026)
- Okaloosa County memorandum on regulating short-term rentals (accessed October 17, 2026)
- 2026 Florida Statutes, section 718.112 (accessed October 17, 2026)
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