Capones is one of the most visited places in Zambales. The words "scenic" and "picturesque" are not enough to describe the island.
On it stands Punta Capones, one of the Spanish era light stations in the Philippines. It was completed in 1890 and was built using the same plans for the lighthouse in Isla de Cabra, an island northeast of Mindoro.
The hike to the lighthouse was quite a challenge. If you approach the lighthouse from the south side, the trail is short but the beachhead is too rocky for the boat to come really close to the shore. You have to wade waist deep waters, maybe deeper, with very slippery rocks (very tricky if you are carrying photo equipment - I fell once on the way back to the boat). There is another trail from the north side of the island.
(Tip: Its best to go to Capones during high tide, if you want to go to the lighthouse. During low tide it will be impossible for the boat to approach the south side. We went there at about 3PM)

However once you reach the lighthouse, the view is all worth it.
The lighthouse's lens and lighting equipment have been upgraded (I also saw solar panels) but the keeper's house is in very bad shape.

Another interesting fact about Capones Island is that the beach MOVES! During rainy season you will see the white beaches on the north side. Otherwise, you will find the beaches on the south side. (Photo below is the south side of the island)
How to get to Capones
From Manila, take a Victory Liner Bus to San Antonio, Zambales (buses going to Iba will pass by this town). Once in San Antonio, take a tricycle ride to Barangay Pundaquit (you will see the island once you are on the beach).

Many backpackers make Capones as a side trip on the way to Anawangin (blog entry for Anawangin later). If you want to visit the lighthouse, I suggest you pass by Capones on the way back from Anawangin, preferably after 1PM when the water on the south side is deep enough for the boat to approach the shore.

The price for a boat ride from Brgy Pundaquit to Anawangin (and back, and with side trip to Capones on the way back) ranges from Php1200 to 2000 depending on the size of the boat. A medium size banca (worth Php1800) could fit a group of 5-7 persons (including camping gears).

You may contact Mang Vic(+63-09284537121) for the boat. Very nice and accommodating fellow. He can provide parking space if you bring your car. He can also provide you with a place to sleep, free of charge, if you arrive in Pundaquit in the wee hours of the morning (we got to the place at about 3AM when we took the 11:30 PM bus from Manila).

More photos here