Push F11 to view these full screen. Molokini crater is about the most popular snorkeling site in Maui as it's only 2.5 miles from the touristy leeward (west) side of the island, near the hotels and t-shirt shops that cater to vacationers. Above is a composite picture of the inner side of the crater whose walls rise about 80' above sea level. The crater floor sports massive coral formations on its submerged surface.
The crater is crescent shaped and the top of a dormant volcano that has been nearly completely worn away above sea level. The bottom of the crater is covered with coral. Because of its popularity, all kinds of controls are in place to keep the onslaught of snorkelers in check. (We were told to stay within a narrow area to keep from infringing on the next boat's territory.) Walking on the island is forbidden since it became a bird sanctuary in 1977.
The outer walls climb as high as 350', providing shelter from wind and current for the sea life on the other crescent side. Up to 250 species of fish are found here. Visibility is good down to 150'.
Molokini Crater is just south of Ma‘alaea Bay. Here's a picture of a nearby island (probably Lanai). Note the distinctive shape of this geological formation created by a shield volcano (so called because the gentle lava flows make the mountain look like a shield lying on the ground.)