It depends on what you want to do. We booked 5 hours and wished we'd booked one more to see the lighthouse. Walking around the Mayan ruins is quite easy.
We had the perfect day with jeorge! It was such a marvelous time on our private tour. Jeorge got us to the chocolate factory before the rest of the cruisers arrived. We had a private demonstration of how to make chocolate and got to make our own from scratch.
We then went to the Mayan ruins, and George set us up with the best private tour guide. We were there for an hour. That was a lot of fun too.
We then went to the opposite side of the island from where the cruise ships dock. Our restaurant for lunch was quiet and peaceful right next to the beach.
We're not really "beach" people, but George took us to a place where there were only three other people. The water and beach were perfect. I found myself wishing I was a beach person, and we'd planned more time.
It really was the perfect day.