The first Water Polo teams at Punahou were formed in the early 1900s with games being played between Oahu College, Diamond Head Athletic Club and St. Louis College. Through the efforts of Tom Haynie, the Punahou Swimming coach, high school Water Polo was restored in 1963 as an intramural sport with students playing senior pickup teams which included Chaplin Ken Rewick, Wrestler Lord Blears, and Punahou teacher Peter Cole. In 1964, an informal interschool schedule was started with teams from Kamehameha, Iolani and Pac-5. Water Polo became an official ILH sport in 1966 with Iolani winning the first four championships. In 1973 the sport grew under new head coach, Ken Smith, and Punahou became a nationally recognized program under his guidance.
Punahou has produced many high school and collegiate All-American players as well as U.S.A. National Team participants.