Lulu Island is the name of the largest island in the estuary of the Fraser River, located south of Vancouver, British Columbia, Canada, and the second-most populous island in British Columbia, after Vancouver Island. The city of Richmond occupies most of the island, while a small section at the eastern tip, known as Queensborough, is part of the city of New …Lulu Island is the name of the largest island in the estuary of the Fraser River, located south of Vancouver, British Columbia, Canada, and the second-most populous island in British Columbia, after Vancouver Island. The city of Richmond occupies most of the island, while a small section at the eastern tip, known as Queensborough, is part of the city of New Westminster.