Fishers and divers are the major resource users of Caribbean coral reefs. On Curaçao and Bonaire, reef condition is good relative to the Caribbean average, but fishes and corals have greatly declined over the last few decades. We interviewed 177 fishers and 211 professional SCUBA divers to assess their views on the extent and causes of degradation. Fishers know fish stocks are severely depleted and declining, whereas divers were aware of declines but had “shifted baselines” and consider the reefs healthy. Fishers and divers differ in perceptions of the causes and appropriate remedies for decline. Fishers generally blame external factors such as changes in climate, currents, or industrial fishing offshore, whereas divers primarily blame overfishing and coastal development. Nevertheless, the great majority of both fishers and divers support more management of both fishing and diving. Thus the social climate is ripe for balanced and strong restrictions on both groups for reef recovery and sustainable use. Exclusion of both fishers and divers from protected areas of significant size around the islands would be a major step forward towards the long-term conservation of reef resources.