A Hidden Midwest Gem: Lost Island Waterpark & Themepark in Waterloo, Iowa

If you’re looking for a tropical escape or a theme park adventure without leaving the Midwest, Lost Island in Waterloo, Iowa is calling your name! Just 3 to 3.5 hours south of the Twin Cities, this destination includes two parks—a waterpark and a theme park—each packed with fun, magic, and adventure for all ages. We spent a full two days exploring both, and we were seriously impressed.

Our Visit

This place was on our bucket list since I heard about it a few years ago. I had heard good things about both parks – the Lost Island Waterpark has been there for 25 years, but the Theme Park was newer, having just opened in 2022! We were excited to check both out, especially since they’re both an easily drivable distance from the Twin Cities!

We stopped in Waterloo, Iowa on the way to St. Louis, Missouri – a follow-up trip to our St. Louis visit in 2019. There we saw the Gateway Arch, the Zoo (free!), the Science Center (also free!), plus I toured the Aquarium which was under construction during that visit. It opened later that year but alas, COVID followed soon after, which delayed our heading back. But we decided to take a road trip this year there with a stop in Waterloo on the way!

We started at Lost Island Themepark on day one, then headed to the waterpark the next day when the weather got hotter—and both parks exceeded our expectations. Here’s what we discovered and what you should know to plan your own unforgettable trip.

🎢 Day One: Adventure Awaits at Lost Island Themepark

We began our trip at Lost Island Themepark, which feels like quite the hidden gem. It’s perfect for families, teens, and anyone who loves immersive, themed experiences.

We were originally going to split the day between the two parks, but my teens had so much fun at the theme park, we stayed the whole day—and are glad we did!

Why We Loved It:

It feels like a mix of Disney World and Valleyfair, but on a smaller, more manageable scale. Having been to Disney parks a few times growing up, and Valleyfair with my kids, it was the perfect blend of both, featuring abundant fantasy and amusement.
The park is divided into five themed realms—Fire, Air, Earth, Water, and Spirit—each with unique rides, settings, and live characters. Each realm is elaborately done with an interactive “center” with activities as well.
Characters walk around the park and interact with guests—they even host group games and mini performances! (My teens thought they were cool – they’re not just for little kids!)
There’s a kids’ area with age-appropriate rides, plus several big rollercoasters for thrill seekers.
The 4D ride Volkanu was a family favorite—we rode it FOUR times!

And the best part? No lines or crowds when we visited. It made the whole experience feel relaxed and enjoyable.

We went on many rides here – my teens enjoyed going on the thrill rides, and together we went on the ferris wheel, Yuta Falls (a water ride – be prepared to get wet!), the Awaati Water Battle (a unique boat ride), and of course, Volkanu.

Now I have to say a few things about Volkanu. It was THE BEST. You watch an introduction video, put on 3D glasses, and board a car like at a Disney park. The car moved around like a real car and had laser blasters you could use to shoot at the enemies. To do this, you’d move up to screens which were immersive with sounds and effects. There was even real fire!

For food, there are two food courts where you can pick up ready-made hot food, which we loved (saves time!), plus some kiosks around the park for treats. Prices are reasonable – not super cheap, but not as expensive as some places. For lunch, we paid $48 for three of us. I had a salad, my daughter had mac and cheese, my son had a burger and fries. Later we had Dole Whip!

Be sure to check the schedule of events for shows and watch a live, interactive performance by the characters!

📍 More Info: Lost Island Themepark Website

🌊 Day Two: Tropical Vibes at Lost Island Waterpark

The next day, the temperatures climbed—so we headed to Lost Island Waterpark, which is just across the street from the theme park. It honestly felt like we had traveled to a beach resort in the tropics!

For those who know me, I LOVE palm trees. Even though the palm trees obviously weren’t real here, I loved the vibe which my teens called “Tropideco.”

What We Loved:

Kailahi Lazy River – So relaxing. We spent the most time here, just floating and taking in the atmosphere. They had pop music playing as you drift along.
11 Waterslides – My daughter especially loved the ones with glowing lights inside, and there were options for all thrill levels.
Three Kiddie Areas – Tahiti Village, Blue Iguana Lagoon, and Starfish Cove each had their own themes and were perfect for younger kids.
Tsunami Bay Wave Pool – Zero-depth entry and big, fun waves. My son loved it so much, we went in twice!
Dining Variety – I had tacos, my son chose a burger and fries (yes, that’s his favorite meal), and my daughter had pizza—something for everyone!
Mermaids! – Yes, there are mermaid appearances! We missed them this time because we were so busy exploring, but it’s a fun extra to look out for.

We spent about five hours here and still didn’t do everything. A full day is definitely recommended.

Waterpark Tips:

Bring water shoes or sturdy flip flops – the ground gets hot, and water shoes that stay on are ideal. We only had flip flops which you couldn’t wear in most of the park (you’d easily lose them), so we walked around barefoot mostly. Water shoes would have made our feet more comfortable. Flip flops are fine if you don’t plan to go in the water. (They do sell water shoes and flip flops in the gift shop for $20 but we toughed it out.)
Rent a locker for the day ($12 for a large one—we fit everything in it). We opened it up multiple times during the day – the park isn’t huge in size so it was never far away.
Wear waterproof sunscreen! We wore the spray kind but we all got burned anyway. Use sunscreen and apply it multiple times if you have to. Thank me later!
Parking is $10, and you can pay via your phone.
Buy tickets online to save money (prices start around $32 and vary by day). Watch their social media for promos—we saw a buy 2, get 1 free deal recently!

📍 Info: Lost Island Waterpark Website

Photo Gallery

Check out more of my pics here:

🏨 Where We Stayed

We stayed at a Days Inn in Waterloo, which was just 6 minutes away from both parks. It was convenient and affordable. It included free hot breakfast (which was good – I had eggs; my kids loved the Belgian waffles), plus there was a fitness center (which I used daily) and an indoor pool. Book a stay with them here!

But if you’re looking for a unique experience, check out New Day Dairy GuestBarn in nearby Clarksville. You can literally watch cows from your bed—24/7—through your own Airbnb window! Plus you can ride a tractor, learn about the cows and even milk them. Read about our experience here.

🌟 Bonus Stop: A Free Family-Friendly Attraction

While in Waterloo, be sure to visit the John Deere Tractor & Engine Museum. It’s a free, educational, and fun stop that kids and adults alike can enjoy. It’s a great way to add some variety to your trip without spending extra.

Final Thoughts

Our weekend at Lost Island Themepark and Waterpark was one of the best family trips we’ve taken in the Midwest. Between the amazing theming, short lines, and range of attractions, there’s truly something for everyone—and it’s all just a few hours’ drive from the Twin Cities.

Whether you’re looking to float in a lazy river, challenge your teens to a rollercoaster race, or just soak in some island vibes, Lost Island is well worth the trip.

Let me know if you visit—I’d love to hear which realm or ride was your favorite!

Here’s a map:

(Disclosure: We received complimentary admission to facilitate this review. Also, this post contains affiliate links that help support this site at no cost to you. Despite all this, all opinions are 100% mine!)