The settlement was named after the Byzantine admiral Kaspakas, who lived during the reign of Alexios I Komnenos (1081-1118). The town formed an autonomous community in 1918, and Agios Ioannis and Gali have been listed as distinct settlements since 1981. In recent years, Agios Ioannis, with its sandy beach and unusual rocks, and Meteora of Kaspakas, have seen a surge in tourist growth. An ancient settlement has been discovered near Ai-Giannis on the hill “Poliochni.” Since 1934, Papa-Aggelis Michelis has described the region as a site of archaeological importance.