This small, privately owned reserve, 2km west along the main road from the town center, does a valuable job of protecting at least some of the Pipa coast from development. Well-marked trails lead through secondary forest to impressive lookouts over Baía dos Golfinhos and Praia do Madeiro, from which you can often see large green turtles at high tide.
A leisurely stroll through the reserve takes two to 2½ hours and you can access Praia do Madeiro via some steps at the northwest end in order to cool off.