Quality of life is a multi-dimensional concept and it is essentially subjective even if we can often find objectively measurable proxies for it. High levels of quality of life are the results of the interplay of social, economic and environmental aspects that together make people satisfied with their life. People living in small islands can enhance their quality of life through appropriate programs that guarantee the conservation of natural capital, provided by ecosystems, and networks and norms that facilitate good governance and social cohesion. In this paper an integration of natural and social capital subjectively evaluated by people living in Vulcano Island (Sicily Region, Italy) is proposed as a first approximation of the perception of quality of life. This paper explores whether there are differences in such perception between permanent and seasonal residents, who live there only for tourist economic reasons. Results show that the perception of natural capital is high in both communities, while social capital and the quality of life is less perceived by seasonal respect to permanent residents. The results of this research highlight that natural capital and social capital, taken into account independently, provide only a partial vision of quality of life that is strongly dependent on the combination of both. In this respect, a list of potential subjective social-environmental indicators useful to assess the quality of life is proposed.