Most locals are all too aware of the nightmare line-ups Toronto Island-goers have to endure at the Jack Layton Ferry Terminal, a perception that has only helped fuel the growth of a now-booming water taxi industry.

But just how much of your day can you recover by opting out of the long waits at the ferry docks, and instead forking over your hard-earned dough for the costlier water taxi option?

First, let's go over the cost difference.

A two-way ferry trip will cost adults $9.11, compared to the $13 price tag of a one-way water taxi trip.

For a price difference of under $4 (most water taxi users are just hopping on an unticketed ferry back to the mainland — even if that's not technically allowed), it becomes a question of how much your time is worth to you.

To settle the score once and for all, we tested to see just how much of your day you can reclaim by skipping the ferry lineups and shelling out for a water taxi instead.

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The race to the famous Centre Island Pizza Pizza began at the Jack Layton Ferry Terminal, where our two contestants parted ways. One headed west on foot for the water taxi docks at Queens Quay and York, while the other joined a lengthy queue to board a ferry.

It was an easy win for water taxis, with the combined walk, lineup for tickets, boarding and cross-harbour trip totalling just 16 minutes.

Meanwhile, the other contestant was still in line to board a ferry, and ended up requiring a full hour, including the wait and the ferry trip before arriving at Centre Island.

That means that you can save around 45 minutes getting to the island using water taxis — not to mention the frustration and discomfort of slogging it through a slow-moving line in the summer heat.

It's important to note that this race took place on a Friday, and you're bound to save even more time skipping the even longer weekend queues to board a ferry and opting for a water taxi instead.