GET TO KNOW RAINBOW BAY Rainbow Bay is a bay, beach, and locality at the southern end of Coolangatta within the City of Gold Coast, Queensland. The bay was originally but unofficially known as Shark/Sharks Bay and in 1925 and was requested for the Coolangatta Town Council to change the name to Rainbow Bay. In August 1925, the council erected directional signs to Rainbow Bay. Considered to be one of the most popular beaches on the Gold Coast, Rainbow Bay’s beach attracts surfers going to nearby Snapper Rocks and Greenmount Beach because of the spectacular waves, as the beach is included as part of the Superbank. The beach is also popular with families who flock to the sheltered beach because of the safety and lack of rips.