Yes it is a plastic hurricane glass and there is no token as far as I know. However it's easy to throw in your beach bag. When given to the bartender they always gave me a fresh glass (washed) which then I kept and exchanged again.. However sometimes I asked for them not to give me a new glass because I wanted to keep the color I had (I know...

The drink of the day cost $4.65 in the hurricane glass and the first one was about $8.50-$9.00.
When I got a non drink of the day in this glass I paid $9.50. It was not discounted unless you got the drink of the day.
Tip: You will get a much better tasting drink of the day if you go to a bar away from the pool area - at one of the lounges or even adult swim up bar. The bartender will then mix it just for you, whereas by the pool they have it pre-mixed in a big jug or something. It seems more watered down.