The waterfall everyone has seen online: it pours straight down onto the old ER 101 coast road just west of Ponta do Sol. That stretch of road is now closed to the public because of falling rock, and the authorities ban access to the fall itself. The photographs are old; the rocks that keep coming down are not.
See it from a distance instead, from the new road above or from the sea, and only after rain: it runs strongest from autumn to spring and can slow to a trickle in a dry August. Do not go past the barriers. It is a fine, and the reason for the barriers is real.