What is it? 

Bonacca is a densliy populated key located off the cost of Guanaja, the second largest of the Bay Islands. These islands are located off the northern cost of Honduras

There are three large islands comprising the Bay Islands. The second largest of these is Guanaja. And Guanaja has a smaller cay, which is also called Guanaja, or Bonacca, or Low Cay. Locals simply refer to it as "the cay". Bonacca is close to the main island and it is home to some 10,000 people, a large part of the total residences of Guanaja. 

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Although the comparison is not exactly accurate, Bonacca is often referred to as the "Venice" of Honduras because most people get around on boat and also because the cay is full of water ways that cut through the cay.