It is on this island that Ciri is hiding from the Wild Hunt. You will visit this island only once and you will not be able to return to it, so collect all the treasures that can be found here before you save all the dwarfs and complete "The Isle of Mists" quest.
After a long search Geralt was at last a step from his goal. Avallac'h had hid Ciri from the Hunt on the magical Isle of Mists, which could only be reached if fate deemed one worthy - or by following a magic firefly, which was decidedly the easier option. Geralt thus readied himself to sail to the isle and bring back Ciri.