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The historical center (near the shore) is quaint and you can spend a few hours walking along the paved streets bordered with nice older buildings. While you are there, grab dinner at one of the seafood places at the north (Dock 20 or Portela) with a Caipirinha.
Located on an island with the second oldest city in Brazil is a nice place to visit. The fact that is outside the common international tourist trail makes it interesting and if you look for a coast city with history, nice beaches , culture good food I rate this place higher than for instance Paraty in Rio de Janeiro.