It is, check out a Google map view to see what you are letting yourself in for. Google map view

As for time, a lot depends on where your starting from and how able bodied you are. Its a decent footpath to the edge of town then things get a bit gravel track'ish. Papagayo is more of an area rather than a single beach so again time depends on which beach you head for.

Thanks, had a look at google, looks a bit of a walk. Saw somewhere that theres a boat you can get which drops you off and picks you up later, is this right?
Can't wait, never been before, 8 weeks and counting