After the conquest, the first settlers of Garachico were three bankers or merchants from Genoa. Their surnames are closely linked to the history of the town: Ponte, Viña and Interián.
They quickly prospered, mainly from growing and exporting sugar cane, Icod wines and an excellent harbour.
The population really started to develop from 1510 and they soon had a district Mayor (1516) and public notary (1518).
The first church of the district of Daute was the church of San Pedro, which was probably built before 1500. In 1514, Bishop Arce made it into a parish church. The next oldest, though not the next in importance, is the church of Santa Ana; building started in 1530.
Franciscan, Dominican and Augustinian convents were also founded in the 16th century, the latter with a college.
In the 16th century, activity focussed on sugar mills and the port. A castle was built to defend the port. But there was a series of calamities in the 17th century, that ended with a volcanic eruption that destroyed the prosperity of the town along with the port in the first years of the 18th century.
The first Town Mayor elected by the local population, was appointed in 1773.