More than 80% of the ocean is not fully mapped or even observed, even though it covers over 70% of our planet’s surface. One of the primary challenges for ocean observation and monitoring is the required power for exploration and monitoring systems, which often operate in remote areas of the ocean. This work addresses the design and development of an ocean wave energy converter that can be installed on observational buoys to provide enough power for sensors, cameras, data acquisition and recording, as well as data transfer units. The initial simulations of the prototype indicate that this system can produce up to 3.7–3.85 watts of power on average, with greater than 12 watts of maximum power in two selected sites in California and Hawaii. The proposed system is simple and low-cost. Further, multiple energy converters can be installed on one buoy to address higher power needs.