Refine your search for walks in Lagoa do Vento
Risco Waterfall and Lagoa do Lajeado
There are a few difficulties at the start of the route with the descent in the sun, followed by a rough path that goes up and down, followed by a fairly long but shaded climb. Then, the return via a shaded and little-used levada. Swimming is possible at both waterfalls, but the water is very cold!
Walks near Lagoa do Vento
Lévada Grande or do Moinho
Take a cab/taxi almost to the beginning of the levada, then walk back down to Porto Moniz.
Fajã Quebrada Nova

This is a short but intense downhill hike to Fajã Quebrada Nova, a small farming hamlet on an ancient scree slope (see definition of "Fajã") at the ocean's edge and at the foot of the Achadas da Cruz cliffs.
The cable car ride up (for a fee, €3 in 2022) will also give you some thrills!