We just got back from a break in Nicaragua and had a great time. The main things were interested in when picking Nicaragua were being able to surf, ride motorcycles and chill out and we got to do all of that stuff, it was a great trip.
We choose to stay in an area outside of Tola / Rivas called Hacienda Iguana. Which is a development on a great beach for surfing (Colorado and Panga Drops breaks) The area is mostly big houses most which you can rent out at pretty cheap prices for how nice everything is and how close you are to the beach. Our casa was $2000 for 9 full days. Split between 9 people that ain't bad. Another great perk of being where we were was that it was fairly isolated with lots of places nearby to ride: other beaches, small fishing towns, random country roads dotted with tiny villages. We were also able to rent bikes and boards from someone down the street from our house making things that much easier.
The days were mostly spent surfing in the mornings, mucking on the bikes during the day and back in the water before dinner. Couldn't believe how little people we saw on the beach the whole trip. We were there a bit off season but we pretty much had the beach to ourselves the whole time.
We had an amazing time so in the interest of you having an amazing time as well here's some info on our trip in case you want to do it yourself. If you can get some buds together you can do this trip for pretty cheap. A rough per person costs. Our trip was nine days. HOUSE: $225 - Our house slept 10 people and that's without anyone having to sleep on the floor. It was really nice, had a pool, wifi, tv etc. Prices seem to go up when the surf season kicks in. vrbo.com RIDES (car rental / ride): $70 - One group of us got a rental and the other who were getting in later got a ride from a local guy who drives travellers and was great. Wouldn't have wanted to do that ride at night without knowing the area as roads are fairly poorly marked but it's not impossible to figure out. FLIGHT: $600-$700 - Prices also go up for flights at certain times of the year. Apparently the best surf season is July - Sept. It was off season (Feb) when we went but still really nice. RENTALS: $160 - We got 4 bikes / 4 boards so we could save money and just switch it up when you didn't want to surf or ride. There's a guy (Buzz) in Hacienda Iguana who rents this stuff out although there are other places in the area to get boards from. If you ask whoever takes care of your house about it they can point you his way. FOOD: $200-300? Depending on how many Tona's you want to crush. We bought groceries in Rivas and made all our own meals so it was fairly cheap. This would be difficult to do without a car though as Rivas is 45 mins away. Usually the people at your house can get you stuff delivered or take care of your food if you don't want to bother but it gets more expensive. Prices for flights and housing go up and down depending on the season so do your research. It seems like we went at one of the cheapest times but the weather was still perfect and more than enough waves for a bunch terrible surfers to have fun on.
The bikes we rented as well as any other bike we saw down there were all 125cc - 200cc enduro styled no name Chinese made rippers. Saw a few Yamaha two strokes on Ometepe but other than that it was mostly Lifan, Bashan etc. Lots of fun in the dirt or sand though and they get you anywhere as fast as you want to go on roads crowded with vacas, perros, caballos, pollos y chanchos.
Everybody packed light to avoid checking baggage but we still brought our own helmets. If you're at all concerned about that side of things I would highly recommend bringing your own because the selection they had at the rental place was pretty raggedy. Other things worth bringing as far as riding goes would be gloves, goggles or glasses of some kind and maybe a bandana for dust. Also a Cruz Tool M14 or a similar metric multi tool would be handy to have. If you want to see some more photos from our trip we have a more on our facebook page.