The Ocean Wave was built in 1860 as a two-masted scow schooner by Robert Chambers at Harsens Island, Michigan, for George Fish and John Abrams, each equal owners. It was built with an unique eagle figurehead, rare for any Great Lakes vessel, especially a scow. The Ocean Wave's first enrollment was entered on May 17, 1860 at Detroit with George Fish as master and hailing from Harsens Island (Bureau of Navigation 1860). For the next eight years, the Ocean Wave helped George Fish build a prosperous local business. During the 1864 season John Abrams became more involved in the Ocean Wave’s operation and bought out George Fish’s share to become sole owner and master, with Harsens Island remaining as the hailing port (Bureau of Navigation 1864). Soon after this transaction, both Fish and Abrams moved from Harsens Island across the St. Claire River to the growing community of Algonac.

Eventually, Fish bought back his half share in the Ocean Wave from Abrams. Captain Abrams remained master, and the new enrollment reflected the move across the river, with Algonac now listed as hailing port. At nine years old, the Ocean Wave was sold to Captain Fletcher Hackett of Milwaukee on April 16, 1869. In anticipation of the strong winds and heavy seas that visit Lake Michigan every fall, Captain Hackett purchased a $3,000 insurance policy on the Ocean Wave in early September, $2,000 less than its $5,000 value (Milwaukee Sentinel 1869).
"Burning of the steamboat Ocean Wave on Lake Pepin. Dubuque, Iowa, Thursday, June 11. The steamboat Ocean Wave, belonging to the People's line, took fire this morning while on Lake Pepin, and burned to the water's edge. She was engaged in transporting a circus troupe up the river. The boat and cargo are a total loss. No lives were lost." The New York Times, June 12, 1868. On September 23, 1869, the Ocean Wave departed Mud Bay, now Moonlight Bay, on the Door Peninsula, with 23 cords of stone consigned to a harbor improvement project at White Lake, Michigan. At three o’clock the following morning, the Ocean Wave ran hard upon something in the water and immediately began settling at the bow. Sinking within minutes of the collision, the crew barely had time to launch the small boat, and all the crew’s possessions were lost, including $160 in cash that Captain Hackett reportedly left in his room (Milwaukee Sentinel 1869). The crew rowed to shore, landing safely at Whitefish Point several hours later. Captain Hackett reported the Ocean Wave had struck a deadhead or floating piece of wreckage fifteen to twenty miles southeast of Baileys Harbor, approximately twelve miles offshore in 360 feet of water.
The Ocean Wave was quickly forgotten until August 2003, when the fish tug Robin B discovered a ship’s mast tangled in its nets in 110 feet of water two miles east of Whitefish Point (Thomsen and Meverden 2005:59). The tug’s crew cut the mast free, and it sank to the lake bottom, but the crew recorded its location. The hang numbers circulated amongst the diving community, but the wreck was not located and dived until June 2004 by Randy Wallander. The vessel was relocated in 110 feet of water two miles east of Whitefish Point in Door County. A local group of divers headed by Jon Paul Van Harpen dived the site in July of 2005, noting the vessel was a small scow schooner of approximately 75 feet in length and carried a cargo of stone. At this time a small kedge anchor was located on the foredeck and was chained and padlocked to the starboard side anchor chain to prevent theft.

Nearly all hull sections of the small schooner are represented, and major hull sections remain intact. The remains of the Ocean Wave allow historians and archaeologists the rare chance to study Great Lakes scow schooner construction and learn about a little-understood early vessel type. The Ocean Wave also represents a rare example of a once common class of vessels on Lake Michigan, the small lakeshoring schooner.