Blue Chairs has been the LGBTQ+ gathering point on Los Muertos for long enough that people give directions by it. The beach section is the reason to come: rows of the blue chairs the place is named for, drinks brought to the sand, and drag shows that run through the afternoon and into the evening. The rooftop handles the later hours. It is busier and louder than the newer clubs down the beach and considerably less polished, which is precisely why the regulars have not moved. If someone in Vallarta tells you to meet them at the beach, this is usually the stretch they mean.
Note: This one runs as a beach club rather than a walk-up bar. Expect a day pass, a minimum spend, or both. Worth knowing before you wander in barefoot expecting a bar stool.