Take the boat from the East Station (8:30, 9:30 or 11:30 AM, free with Eurail or Swiss Passes, half off with Interrail) to the stop called "Giessbach See," about an hour out. Check the schedule at the dock, to see what returning boat you'd like to be on. Then go to the falls and follow the trail up along them, in the direction of Schweibenalp. The trail is steep but not dangerous, sometimes crossing over or under the falls. In about two hours, you'll reach the Hotel Schweibenalp, about which there is much speculation among the tourist set, but no one seems to have yet figured out what religion or philosophy the people retreating there are affiliated with.

Finding the continuation of the trail is not a very straightforward task at this point; you have to follow the road that looks like it's headed right into the hills. Around the bend and descending slightly to your right, you'll find a sign for Iseltwald, pointing you into a kind of hidden valley that finally leads back down towards the lake. Differing greatly from the hike's rocky, woodsy beginning, this section is mostly rolling hills and farmlands, passing, mid-way, through the tiny settlement of Isch. There are good views of the lake the whole way along, culminating with your arrival at the peninsula village of Iseltwald.

Have a look around Iseltwald; it's very scenic with many beautiful old houses. If you're already beat from the three and a half hours you've walked, you still have the option to take the boat back from here. The remaining hour and a half is easy walking, though, following the signs from the eastern end of the village along the relatively level lakeshore, back to Giessbach Falls.