Location. Location. Magnetic Island is located a mere 8km off Townsville, North Queensland's capital city, situated only 349kms south of Cairns and 270kms North of the Whitsundays. Once you have arrived in Townsville getting to Magnetic Island is easy. Reach your destination via high-speed catamaran, car ferry or water taxi. Discover each of Magnetic islands glorious bays by car, bus, taxi, scooter, bicycle or simply take a stroll.