Rainbow Beach is renowned for it’s beautiful beaches, stunning natural environment and it serves as gateway to Fraser Island and Cooloola National Park. Rainbow was named after the coloured sands that adorn the environment. It was established to service the local sandmining industry. Sandmining stopped in 1976 and Rainbow Beach is now a peaceful holiday village, great for fishing and as an eco tourism destination. It caters to holiday makers and the town has a small permanent population of around 900, although 70,000 visitors visit Rainbow Beach annually.
A cargo vessel named the Cherry Venture ran aground in 1973 on the 8th of July during a gale. It was on its way to Brisbane from New Zealand but struggled in the high seas. The anchor cable broke in the high seas and although the Captain battled to hold the ship, she foundered, she has been stripped of her fittings and now left to the elements. Her rusted hull was a tourist attraction and the huge stainless steel prop was taken away and is displayed in Laurie Hanson Park overlooking Rainbow Beach.