Whaling Station Bay on the northeast side of Hornby operated as a whaling port from 1871 until the subsequent decimation of the whale population.

The island's industries included the usual fishing, logging and farming. The greatest growth was in the 1920's when a Women's Institute and a Farmers' Institute were founded, and later a one room schoolhouse, and community hall were built. The first tourist accommodation at Hornby Island Lodge at Tribune Bay followed. By 1930, the population had reached 100.

The next major spurt of development happened in the 1950's with the building of the first church, the establishment of a regular car ferry service and the provision of electricity by B.C. Hydro. A co-op was established shortly thereafter.