The pilot of the on-demand passenger flight reported that they departed for a fishing trip to the destination island. Upon arrival, the pilot flew alongside the island to determine where to land and fish. The pilot said that the water conditions on west side of the island were stirred up due to the wind, but it was the only area to land on because of ocean swells on the east side of the island. The north side of the island had water conditions that were the least stirred up and was an area that he had landed on numerous occasions. He elected to land on the north side of the island between two sand bars, which were protected from the wind. Prior to the landing attempt, the pilot overflew the intended landing area three times to ensure that the water was deep enough and calm enough to land on. Upon touchdown, the airplane bounced off a wave and the pilot did not increase engine power to initiate a go-around because he thought that due to the airplane’s weight and height above water, it would only result in settling into the waves with increased engine power. The pilot maintained the airplane attitude to avoid an aerodynamic stall. The airplane then impacted a larger wave, which fractured the left float and the airplane settled nose down on its left side in the water. The airplane sustained substantial damage to the left horizontal stabilizer and elevator. The pilot reported that there were no preaccident failures or malfunctions with the airplane that would have precluded normal operation. The pilot stated the accident could have been prevented if he had decided to return to the point of origin rather than attempting to land.