Most famous beaches are famous for what is on the sand. Railay is famous for what is behind it. The defining fact of this place is not its water or its grain but the limestone wall at its back, because that wall is what makes Railay an island that isn't one.
A peninsula with no land route. Laem Phra Nang is physically connected to mainland Krabi. You could, in principle, walk to it. You cannot in practice, because the connection runs through sheer karst cliffs and dense interior jungle with no path and no road. Every other beach on this site that calls itself "boat-only" is usually a true island or a cove with cliffs on three sides. Railay is rarer: a piece of the mainland that its own geology has amputated. The result is the same as an island, with none of the open water. You arrive by longtail from Ao Nang in 10 to 15 minutes, or on a longer transfer from Krabi town, and you step into the shallows because there is no pier on Railay West to walk down. No cars exist on the peninsula. There is nothing for them to drive on.
The rock is a 245-million-year-old reef. The walls doing the sealing are not generic cliffs. They are Ratburi Group limestone, a Permian carbonate platform deposited between about 286 and 245 million years ago, when the Sibumasu terrane that underlies peninsular Thailand drifted through shallow tropical seas. That platform was, in effect, an ancient reef. Over the eons since, rainfall slightly acidified by carbon dioxide has dissolved the soluble carbonate along joints and bedding planes, leaving behind tower karst: free-standing, vertical-sided limestone towers, locally called mogotes, riddled with caves and hung with stalactites. The Ratburi limestone in this part of the peninsula runs hundreds of metres thick. The cliffs that cut Railay off are the eroded skeleton of a Permian sea.
Why climbers made it a world capital. Tower karst does not just look dramatic; it climbs well. The dissolution that built the towers also studded their faces with the features sport climbers want: stalactites to pinch, tufa blobs and runnels to wrap, hourglass pockets, jugs, and steep undercut overhangs. Climbers became aware of Railay in the early 1990s, helped along by Sam Lightner's 1994 account Exotic Rock, and bolted the walls fast. Today the Railay and Tonsai cliffs hold over 700 bolted sport routes across roughly 50 climbing areas; counting the wider Krabi karst, climbing guides tally over 1,000 routes across some 85 areas. The grades run from beginner 5a slabs to multipitch 6a classics and on up to 8c test-pieces. Tonsai Bay long offered deep-water soloing, ropeless climbing above water deep enough to fall into, though local regulation of it has come and gone. The same chemistry that isolated the beach gave it the rock that put it on the global climbing map. Isolation and the climbing are not two facts about Railay; they are one fact seen twice.
Caves as the other half of the karst. Solution does not stop at the cliff face. The interior of these towers is hollow. Diamond Cave, formerly the Inner Princess Cave and known in Thai as Tham Phra Nang Nai, sits at the northern end of Railay East on the trail toward Tonsai. The national park has lit it and laid a wooden walkway roughly 130 metres in to its stalactite and stalagmite formations; in the wet season a pool inside catches light off the walls, which is where the "diamond" name comes from. At the foot of Phra Nang beach, a second cavern, the Phra Nang shrine cave, opens at sea level. The caves are not an attraction bolted onto the beach. They are the inside of the same dissolving limestone whose outside walls keep the road out.
The shrine that makes the geology cultural. Phra Nang, or Mae Nang, is a female spirit associated with fertility and the sea, and her cave shrine on Phra Nang beach is filled with carved wooden phalluses, called palad khik or lingam, ranging from pocket-sized to nearly a metre. Fishermen have left them asking for calm seas and full nets; couples leave them praying for children. The legends behind her conflict: one holds she was an Indian princess drowned in a shipwreck offshore whose spirit took the cave; another that she was a fisherman's wife who waited in the cave for a husband who never came back from the sea. Both stories survive, and sources do not agree on which is older. What is not in dispute is that the shrine sits at the base of the same karst, at the waterline, where the rock that walls the peninsula off meets the sea that is its only door.