Answer
Yes, in everyday life, Punta del Este and the city of Maldonado are closely connected and actually form a single urban zone along with neighboring territories. Traveling between them does not feel like a long trip to another region: people live in one city, work or relax in another, and use shared roads and services.
Administratively, these are different settlements within the Maldonado department. Punta del Este is more focused on tourism and the coast, while Maldonado provides more conventional year-round infrastructure, housing and services for locals.
When choosing an apartment, compare the address, bus route, and seasonal congestion rather than the city name. Housing in Maldonado may be more practical for year-round living, whereas Punta is more convenient for walking to the beaches and enjoying the resort atmosphere.