Lake Phoenix is a freshwater dive site featuring a variety of submerged artificial structures and wrecks. Divers can explore a collection of objects including a jump plane, a Blackhawk helicopter, buses, cars, and a boat featured in the film The Replacements. The site offers shore access with depths ranging from 6 to 20 metres. Visibility varies between 3 and 12 metres. Thermoclines are present, and water temperatures at depth rarely exceed 15.5°C in summer, dropping below 10°C in winter. The site is equipped with facilities including air fills, showers, changing rooms, and gear storage. Night diving is permitted, with typical dives lasting approximately 40 minutes.

Whippernock Marina Swimming Beach at Lake Phoenix offers a shallow, shore-entry site suitable for beginners. The area features a roped-off sandy beach designed to provide a protected environment for snorkeling. Depths typically range from 1 to 5 metres, with an average of 2 metres. Visibility varies between 5 and 15 metres, and currents are generally mild. As the site is located within a marina, snorkelers should remain aware of potential boat traffic in the vicinity. On-site facilities include parking, toilets, showers, changing rooms, a rinse station, equipment rental, and a cafe.

The Big Island Shallows in Lake Phoenix is a boat-access site situated in a wider section of the lake. The topography features a natural rocky bottom, with the leeward side of the island typically offering the best conditions. Depths range from 2 to 20 metres, with an average of 10 metres. Visibility varies between 2 and 6 metres, and currents are generally mild. The site is suitable for intermediate snorkelers. Divers and snorkelers should remain aware of boat traffic in the area. On-site facilities include parking, toilets, showers, changing rooms, a rinse station, air fills, equipment rental, a cafe, first aid, a dive shop, boat charter, guided tours, and gear storage.

Chesdin Landing Private Access at Lake Phoenix is a semi-private entry point offering both shore and boat access. The site features artificial reef structures, with deeper water located near the docks. Snorkellers may encounter various temperate freshwater fish and invertebrates typical of the region, which inhabit the area around the structures. Conditions are generally mild, though users should remain aware of potential boat traffic, entanglement risks, and overhead environments. The site is suited for intermediate-level snorkellers, with typical sessions lasting around 45 minutes. Facilities available at the location include parking and toilets.