Punta de Mita (commonly referred to as simply 'Mita') is on the North-West tip of the Bay of Flags ("Bahia de Banderas"), just 30 minutes NW of the Puerto Vallarta International Airport via modern highway.
From the Airport:
There are two taxi options plus bus service from the Puerto Vallarta airport.
Directly from the airport, taxis which have a monopoly on airport pickups are expensive (at least $60 USD), but are the most convenient, especially if you have a lot of luggage.
The 'normal', 'yellow' taxis are not allowed to pick up at the airport, but you will find them just a short walk away on the other side of the highway that borders the airport. There is a ramped pedestrian bridge over the highway, and taxis on the other side can be negotiated for around $40 USD.
Bus service is reliable and frequent (scheduled for every 7 minutes), and can be an adventure in itself. Find the busses on the other side of the highway (again, over the pedestrian bridge). Recommended only if you have minimal luggage. The fare is only 20 pesos (about $2.00 USD) per person, and busses are clearly marked "Punta de Mita" or just "Mita".
Lots of stops along the way, but the end of the line is Mita, so no worries about where to get off. The ride will take between 45-60 minutes. The higher profile of the busses also gives you a better view along the way!
From Puerto Vallarta:
Again, the yellow taxis can give you a ride to Mita for around $30 to $40, depending on your negotiating skills.
Busses are also available, but only from as far south as the North end of 'El Centro' (downtown).
Punta de Mita
If you are traveling from further south, we recommend taking a local bus (4 pesos / approx $0.40 USD per person) to Sam's/Wal-Mart, and change to a Mita bus there (20 pesos / approx. $2.00 USD per person). There are TWO sheltered bus-stops here...the buses to Mita pick up at the SECOND one (closer to Wal-Mart).
From Puerto Vallarta: