You'll in fact wish for more hours in a day to enjoy all the entertaining things in the Central Cascade Range. Hiking is a popular thing to do around Waldo Lake; Waldo Lake Trail is a tremendous local trail. In case you're here at Waldo Lake during the winter you could always check out Crescent Lake Snowmobile and rent a snow mobile. While you're here at Waldo Lake, you could also stop by beautiful Yoran Lake,
and Willamette Pass is a great local ski area. This lake is one of the great places here in the Central Cascade Range. So many cool things to do here at Waldo Lake, too perfect to be true.