Monte Igueldo is the western bookend of La Concha bay. At the top you'll find a lighthouse dating to 1855, an amusement park that's been running since 1912, and views that justify either the climb or the funicular.
The funicular itself is worth the ride — inaugurated in 1912 by Queen María Cristina, it's the third-oldest in Spain and still runs on its original mechanism and cable. The amusement park was built the same year as a casino; when gambling was banned in 1924, it was converted to rides. The Montaña Suiza roller coaster, installed in 1928, is the oldest steel roller coaster in the world still in operation.
But you're here for the panorama. On a clear day, the sweep of La Concha bay, the old town, Monte Urgull, and the coast stretching east toward France is one of the finest views on the Norte.
Getting from the monte to the camino is a simple matter. From the parking lot at the top of the monte, make like a car and roll downhill along the road. When you get to the small gravel parking lot on your right, cut across it to pass the Hotel Leku Eder and keep on that road.