Originating in 1988, the Squid Fest, (formerly known as  the Squid Jigging Festival), got its name from the long history of the inshore squid fishery that occurred in Holyrood  Harbour. Squid fishermen used small open boats equipped with a jigger rigged reels to catch squid.

During the last week in July the Squid Fest offers a large variety of events that are exciting and enjoyed by people of all ages. Throughout the days of the week children may participate in everything from a Teddy Bears Picnic to a Bicycle Rodeo. Other people may enjoy a relaxing afternoon surrounded by local folk talent. Evenings offer exciting live entertainment and dancing at the Beach Party.