Oia sits at the northern tip of the caldera rim, about 11 km from Fira by road and a good deal closer by the cliff path. The village is built into the rock face in layers, with houses stacked below and above one another along narrow lanes that connect through tunnels and stairways. The views across the caldera to the volcanic islands at its centre are the best on the island.
The sunset here is genuinely one of Greece's great spectacles — the sun drops behind the volcanic ridge and turns the caldera a deep orange-red. It is also one of Greece's most crowded spectacles: arrive an hour early if you want a good spot at the main viewpoint. The morning is the better time to explore the village itself, before the tour groups arrive from the cruise ships.
The lanes hold a mix of good jewellery and craft shops, the occasional excellent gallery, and wine bars serving the local Assyrtiko. The small naval museum in a restored captain's house is worth an hour.