Most of the attractions are within walking distance of each other, but a rental car or taxi is recommended for the visit to Osorno Volcano. The round-trip cost for a taxi is approximately $120 and takes about 3 hours.
If you have more time, consider visiting the island of Chiloé to explore its unique culture and architecture. If you have less time, consider skipping the visit to the Osorno volcano since it takes up the most time in the itinerary. Also, it is advisable to start the day early in the morning to make the most of your time.