Vancouver Island, located in British Columbia, Canada, is the largest Pacific island east of New Zealand. While the city of Vancouver stands on the North American mainland, Victoria, the capital city of British Columbia, is located on the island.ocated near the centre of Vancouver Island in 2,500 square kilometres (965 sq mi) Strathcona Provincial Park, it is part of a group of peaks that include the only glaciers on the island, the largest of which is the Comox Glacier.