There are many adjectives one could apply to Nantucket: Quaint. Historic. Beautiful. Fog-shrouded. But cheap? No way. The one thing everyone seems to agree on is that this little island outpost is the very definition of upscale tourism, an enclave of bazillion-dollar trophy homes and exquisite but pricey, well, everything.

Which is why we couldn’t help but wonder, is there a way to enjoy Nantucket’s undeniable charms without breaking the bank? We queried a random mix of Nantucket insiders to get their best bargain tips. From shopping at the dump (no lie) to binging on wings, here’s what we discovered.

Nuts and bolts

Given that Nantucket, called the “far away island’’ by the Wampanoags, is located 30 miles out to sea, a ferry ride is the time-honored mode of transpo. (There’s air service, too, but the cheapest flights currently available cost more than the priciest ferry ticket.) The high-speed ferries, operated by the Steamship Authority and Hy-line Cruises, both out of Hyannis, can get you to Nantucket in just an hour. But it’ll cost you — $69 and $77, respectively, for an adult round-trip ticket. Go the more leisurely route, on Steamship Authority’s traditional ferry, and you’ll get there in about two hours and 15 minutes for $37 roundtrip. (Kids’ fare is $19; age 4 and under are free.) Use that extra hour to ease into vacay-mode.

Bringing a car on the ferry is an additional wallet-wallop, but there’s no reason to spring for that, since the Wave (NRTA) shuttle bus can get you all over the island for chump change. ($1 or $2 each way, depending on route. A one-day pass is $7; multiday passes are also available.) Plus, there’s plenty to see on Nantucket within about a mile or so of the ferry dock, including architectural gems (Nantucket has 800-plus buildings that date back to 1850 or even earlier), shops, and restaurants. Plummy destinations that are farther away, like ultra-cute Siasconset and luscious Madaket Beach are reachable via Nantucket’s 32-plus miles of paved bike paths. Wave vehicles are equipped with bike racks, and you won’t pay an additional fare to use one, (That’s how keen Nantucket is to keep cars off their already-jammed cobblestone streets.) We’ve experimented with getting around the island this way and it really works — and it’s far less stressful than driving around the island in high season.

You could do Nantucket as a day trip, or combine it with a couple of nights on the Cape, but an overnight doesn’t have to be a budget-buster. Nantucket is home to a hostel that’s on the National Register of Historic Places, if you can believe it: a 1873 life-saving station near Surfside Beach where you can share a room (actually, two rooms, one big and one medium-size) for around $40 per night (www.hiusa.org) with 50 other value-minded souls. If you’d rather not do the dorm thing, you can still snag reasonably priced (under $300 per night) digs, just keep in mind that most places have a two-night minimum and rates are always highest on weekends. The Anchor Inn (rates from $189; www.anchor-inn.net) offers 11 guest rooms with period furnishings; the least expensive ones are in the back of the house. You can walk to the ferry, beaches, restaurants, and the Whaling Museum from The Periwinkle (rates from $225 for a twin room with shared bath; $250 and up for a queen room with private bath; www.nantucketinns.com), a Greek Revival-style inn with 10 guest rooms. Some rooms have harbor views; all have flat-panel TVs, mini-fridges, complimentary Wi-Fi, and continental breakfast.

Fun and games

Having an excuse to eat out is one of the joys of vacation. While Nantucket is known for its expensive (and very good) dining scene, we’ve discovered some pleasant spots that won’t induce sticker shock. One of our best island meals was a sunset picnic at Madaket Beach, featuring a takeout feast from Sushi by Yoshi (www.sushibyyoshi.com). Go for a meal at the Easy Street Cantina (www.easystreetcantina.com) and you won’t feel like you’re scrimping, considering the place overlooks Nantucket Harbor and the wharf. Fajitas ($9.95) are a popular option, and a 10 spot will also get you a basket of jumbo wings on Saturday. Other affordable eats include the Centre Street Bistro (try the smoked salmon taco), open for breakfast, lunch, and dinner on weekends (www.nantucketbistro.com), and the Fog Island Café (www.fogisland.com), a perennial favorite for breakfast. Nantucket Pharmacy at 45 Main Street has a c. 1929 soda fountain, featuring inexpensive sodas, sandwiches, and frappes. In a pinch, good old Stop & Shop is well stocked with grab-and-go goods at its two Nantucket locations.

Now for the easy part: activities. Dare we say it: The best things in Nantucket are free or cheap. A bike ride on any of the island’s 12 paved paths is delightful, but the Siasconset route is especially lovely. If there’s anyplace more visually appealing than this rose-bedecked village, we haven’t seen it. Speaking of awesome visuals (and a great quad workout), climb the 94 steps to the tower of the First Congregational Church for fabulous views of Nantucket harbor ($5). Or take care of those 10,000 daily Fitbit steps with a hike at Coskata-Coatue, a pristine reserve laced with 16 miles of hiking trails, managed by the Trustees of Reservations (www.thetrustees.org). Trails managed by the Nantucket Conservation Foundation (www.nantucketconservation.org) and the Nantucket Land Bank (www.nantucketlandbank.org) are open to all, for free. If birds are your thing, pack your binocs and join local enthusiasts on Sundays at 8 a.m. at the high school; grab a ride with a fellow enthusiast to get to the hotspots.

Rainy days mean museum-hopping. Happily, Nantucket’s museums aren’t very pricey. Just $10 will get you into all of the Maria Mitchell properties (www.mariamitchell.org), including the Science Museum, the Aquarium, the Observatories, and Maria Mitchell’s birthplace. Or, spend $10 per person ($5 for kids ages 6-17) to tour the Nantucket Shipwreck & Lifesaving Museum (www.nantucketshipwreck.org).

If you’re on an adults-only getaway, consider a visit to Cisco Brewers, Triple Eight Distillery, and Nantucket Vineyards (www.ciscobrewers.com). It’s always a lively scene, especially when there’s live music booked. They operate a free shuttle between Visitor’s Services on Federal Street downtown and the property through Columbus Day.

As for shopping, in-the-know bargain hunters prowl with glee at the “Madaket Mall,’’ also known as the Nantucket Landfill and Transfer Station or just “the dump.’’ A grey-shingled building, at 188 Madaket Road, is open at selected times on a “take it or leave it’’ basis. It’s like a flea market, but everything is free. Golf clubs, bric-a-brac, you name it; everyone on the island seems to have heard about a major score at “the mall.’’ If you enjoy the thrill of the hunt but prefer more ambience, put the Hospital Thrift Shop at 17 India St. on your list. Local residents, shops, and inns donate goods to benefit Nantucket Cottage Hospital, making this a treasure-trove of pre-owned clothing, books, and household items. Over the years, the thrift shop has contributed nearly $4 million to the hospital.

There you have it — a value-minded Tour de Nantucket. As one of our penny-pinching Yankee forebears once said, “Fabulous and fun doesn’t have to cost a fortune.’’ (Right again, Mom.)

Diane Bair and Pamela Wright can be reached at bairwright@gmail.com.