Sunset Key is a 27-acre (11-hectare) residential neighborhood and resort island in the city of Key West, Florida, United States. It is located about 500 yards (460 m) off the coast of the island of Key West. The island is privately held among its residents, one of which is OPAL Properties which operates a small number of guest cottages. The island is accessible only by a shuttle boat that runs from the Margaritaville Marina out to the island. The island consists of a total of 48 single-family homes and 21 vacant lots, each of which are valued at over $1.5 million.