Rendering of the helium balloon ride at the new CocoCay

(2:50 p.m. EDT) -- Tropical paradise fun will come at a price on Royal Caribbean's private island, CocoCay. The line has just opened bookings for its Perfect Day at CocoCay offerings for sailings that visit the island starting May 2019 with prices ranging from $39 for half day's entry to the Thrill Waterpark at certain times of year to $1,599 for full-day rental of an overwater cabana for eight.

The cruise line notes that many amenities on the upgraded island are free, including Oasis Lagoon, the largest freshwater pool in the Caribbean; Captain Jack's Galleon, a water play area with slides, a geyser, and water cannons; and Splashaway Bay aquapark.

There are also new sports courts, free fitness classes, and revitalized beach areas, including Chill Island and South Beach, which offer free beach chairs and beachside activities. The island also has five complimentary dining venues.

But CocoCay has its high-rent districts too. Overwater cabanas will command $949 to $1,599 for the day, depending on the season. The cost includes space for up to eight guests, a private attendant and overwater hammock, along with admission for each person to Coca Beach Club, which has an infinity pool and upscale dining.

Groups of up to six can rent a waterpark cabana for $499 to $869, which includes water park admission. Other beach cabanas rent from $299 to $569.

But most passengers will be drawn to a 13-waterslide Thrill Waterpark, which will cost $44 to $99 for a full day or $39 to $74 for half day. Kids three and younger will be free.

The waterpark includes the largest wave pool in the Caribbean and the tallest waterslide in North America. A 1,600-foot zipline, which ends with a water landing, will run $79 to $139 per person for a single ride or when combined with the waterpark admission will cost $99 to $179 for a full day or $89 to $149 for a half day.

Additional experiences, like a 450-foot ascent on a tethered helium balloon called Up, Up and Away, will cost $39 to $99 for ages 13 and up; $24 to $64 for those ages 4 to 12; and is free for three and younger.

The $200 million upgrade will also see a cruise dock added, so passengers will no longer have to tender ashore. That's scheduled to open in the fall, with Chill Island beach and Oasis Lagoon pool opening soon after, while the waterpark and South Beach area are scheduled to debut in April 2019. Coco Beach Club and its cabanas aren't expected to open until the end of 2019.

The 140-acre private island was formerly Little Stirrup Cay, a part of the Bahamas' Berry Island chain, located between Freeport and Nassau. Royal Caribbean has leased the property since 1990.

--By Larry Bleiberg, Cruise Critic contributor