At the eastern tip of Ikaria lies the settlement of Fanari also known as Faros. Faros is located on a small plain with many vineyards and is home to a growing number of houses, most of them summer cottages used by the inhabitants of Agios Kirikos and Perdiki. Faros' coastline, with its two mile long beach, crystal clear sea, and abundant fish and sea life is a delight for every holidaymaker. An interesting architectural feature of the village is the non-existance of a seaside road, making it perfect for families with children. Instead, pedestrians pass through the yards of the houses and tavernas/cafes which are built on the waterfront.

On and around the beach there are a few seaside restaurants and cafes, a mini-market, art/gift shop, rooms for rent, and a few guesthouses/pensions, making extended stays highly desireable, especially for families with children and visitors seeking peace and quiet. Faros is also becoming a center for water sports including windsurfing, kayaking, scuba diving, sailing and snorkelling. The unobstrusive Ikarian airport is a mere stones throw away, but invisible from the beach or village and there is only 1 or 2 flights per day.

In the area of Faros lies Drakano Fortress, the ancient third capital of Ikaria. Its name originates from the mountain bearing the same name, which today is called Atheras. The Eastern promontory where the ancient town was situated was also called Drakano for the same reason. The location can be spotted from the sea and is a must visit for those staying in Faros along with Agios Giorgis Beach

Also of interest close by is Iero Beach and the Cave of Dionysos and the hilltop Italian Fortress from WWII.

Near Faros and at an elevation of between 100-150m and West South West of the airport near the main road, is located the ancient burial ground and tombs of Propezoulopi, thought to be associated with the cult of Dionysus. These megalithic monuments (Menhir) are identified by columns of limestone with heights between 1,22m and 2.80m. They lie in their original positions and are spread throughout the area. The stones that mark the tombs are characterized by sharp tips and are typically arranged in groups and in a straight row. .