Minibusses from Windhoek (departure from the taxi rank closed to Rhino Park hospital, 110N$) or from Swakopmund (taxirank out of town, 25N$) are available throughout the day. Not too comfortable, but the true african way of travelling.
Go fishing. Rods can be rented. You need a fishing permit though which can be bought at the ministry of fisheries for 14 N$ for 30 days (Inspectorate Office, 1st Street, phone: +264 64 2016111, monday-sunday 8-13). Speak to the locals about the various fishing spots.
Dolphin watching. Checkout Mola Mola cruises for dolphin and seal cruises Tel +264 64 205 511.
Dune boarding. Buy a dune board in town and head 6km out of town to Dune 7 for an inexpensive thrill.
The Raft Restaurant Bistro and Bar. A Great Restaurant with great atmosphere, on a pier in the lagoon, an absolute must if you are in Walvis Bay. Large restaurant offering a huge a la carte menu, and bistro and bar area with the best pizzas and burgers for miles. Definitely worth the drive from Swakopmund (a mere 35kms).For directions, just ask anybody for 'The Lagoon' it's on stilts in the water opposite The Pelican Bay Hotel, you can't miss it. Phone +264 64 204877. 
Crazy Mama's. Funky bistro with pizza, salad and vegetarian options.
Probst. A German cafe serving some of the best sandwiches. Try the "rawhak" roll.
Bonaroma. Great Italian inspired food, lots of seafood as is common with Walvis Bay. Friendly staffedit
Langholm Hotel, 18-22 2nd Street West, Lagoon (Off 5th Road, turn left into 2nd Str West.), ☎ +264 64 209230, . checkin: 13h00; checkout: 11h00. Great facility, friendly and helpful staff, great fun the NightCap bar - feels like home from home. Should be first choice for all persons visiting Walvis Bay.from N$655. (22573686S,14291987E)edit
Loubser's Backpackers, 11 JH de Waard Street(old 3rd Street West) (Arriving at the traffic round about, you take the exit to Union street. Drive along this untill you meet up with 5th Rd at the Tourism info. Turn left , straight along 5th until you reach JH de Waard where you turn left.Property on your right hand.), ☎ +26464203034, . checkin: 12am; checkout: 11 am. Affordable accommodation in either dorm rooms or private double and single rooms. Self Catering unit for families or a group traveling together.from N$140. (22 57.662,014 29.332)edit