From its kilometres of scenic coastline with breathtaking foreshore vistas to its luxury apartments and stately mansions, Oak Bay is one of the most desirable residential areas in Greater Victoria. Architecture ranges from the late 19th century style of pre-eminent architects such as Francis Rattenbury and Samuel McLure to the contemporary West Coast style of today.

Oak Bay is home to two golf courses, the Uplands Golf Club and Victoria Golf Club, as well as the Oak Bay Marina and the Royal Victoria Yacht Club. There are three recreation centres in the municipality and its main shopping areas, Oak Bay Avenue and Estevan, maintain a village-like atmosphere.

The municipal District of Oak Bay is sub-divided into 6 neighbourhoods. Oak Bay shares the University of Victoria and Camosun College with the neighbouring municipality of Saanich.