They're actually just glorified 'lick & stick' - thin 'not quite plastic' decals adhered to paper backings, which are wetted with a mixture of water and alcohol and applied to the skin.
I imagine they're very similar to the ones you can find on the cosmetics counter in some chemist's (though I've never used those, so that's a guess).
They will start to rub off if mistreated, but at the end of the day, alcohol and cold cream will remove them properly.
How I know - I've had to wear them a few times myself... they itch ;-)
I managed to Google this...
The company 'Tattooed Now' is one that makes these decals.
Customized Tattoos shows some still on their paper backing and
How to Apply... gives pretty much the same info as I précised above.
Seems they did actually make the tattoos for Point Break, and a few other high profile movies.
This site - Love to Know : Movie Tattoos - has a bit of background on the history of movie tattoos - which used to be done originally in ordinary stage make-up, then later in an alcohol-based skin paint; but they were very laborious & had to be touched-up frequently.