Valun is situated on the south part of the Cres bay. It is a village of farm laborers and tourism.

The village developed around the Saint Mary's church, former Saint Thomas. The Valun tablet, which is exposed at the parish church, and Glagolithic lapidarian take us back to history of literacy in this area. The tabled contains two inscriptions written in two languages and two letters - Croatian language and Slavic letter - glagolithic script, and an inscriptions written in medieval Latin script "Karolina".
The old olive-mill called "toš" was renovated into restaurant where you can taste domestic specialties.

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