There are plenty of vacation rentals in Greater Pine Island, including in the artists' hamlet of Matlacha (mat-la-CHAY). Susie's Old-Florida Cottage is noteworthy for its privacy and old-style charm. You won't have to watch what your neighbors are doing, and they won't see you. With a full kitchen and access to a washer, you can make yourself instantly at home. Beach towels and beach chairs are provided. Bikes available (ask about signing a release).
Pine Island is not a particularly active tourist spot (no beaches). Rather it is a place were average people of the snowbird variety can afford a winter residence, go fishing, play tennis, or indulge in the primary activity on the island: eating out. It is a low key spot. You definitely need a car--I have had two guests who thought they could get by with just a bike, and neither was happy in the end. Pine Island is very different from the posh snowbird areas of Sarasota to the north and Naples to the south. We are the blue-collar zone, and proud of it.