Fajardo is a very active town with more than one hotel and a growing set of communities. It has the largest marine in the island and it the gateway to 2 baby island and many other Caribbean islands, sand banks, and micro islands. The area does not support Surfing, other than beginners. However, boating, island hopping, recreational fishing (sea and rivers), snorkeling, scuba, kayaking and many other water related activities are all supported in the area.
However great Fajardo is, one should visit the island and see many different towns and regions of the island. You do not want to make a financial mistake. There are 78 towns and each has its own flavor that could attract different populations of Mainlanders.
So if you plan to invest in property, you need to come visit, preferably multiple times and visit different parts of the island before making any financial plans.