Between Bermeo and Mundaka lies the island of Izaro, whose silhouette on the horizon offers an emblematic view of Urdaibai. In the 15th century It housed a Franciscan convent , and has since been the scene of stories of corsairs, territorial disputes and love legends .
Today, the island is home to colonies of seabirds such as gulls, storm petrels, egrets, and cormorants.
Every year on July 22, Madalena Day is celebrated, a festival that highlights Bermeo's relationship with the island and its history.
Madalena is a special date in the calendar of all the residents of Urdaibai, when they dress up in mahón (the fabric used to make the traditional garment of our fishermen and women). It is a festival rooted in the seafaring tradition that unites the municipalities of Bermeo, Elantxobe, and Mundaka.

In a festive atmosphere of brotherhood between the aforementioned towns, Bermeo reaffirms its control of the island with a traditional seafaring procession. During this ritual and during a lively voyage, the mayor of Bermeo throws a tile into the sea while declaring: "This is as far as the leaks of Bermeo go."