This review focuses on the most suitable form of hydrodynamic modeling for the next generation wave energy converter (WEC) design tools. To design and optimize a WEC, it is estimated that several million hours of operation must be simulated, perhaps one million hours of WEC simulation per year of the R&D program. This level of coverage is possible with linear potential flow (LPF) models, but the fidelity of the physics included is not adequate. Conversely, while Reynolds averaged Navier–Stokes (RANS) type computational fluid dynamics (CFD) solvers provide a high fidelity representation of the physics, the increased computational burden of these models renders the required amount of simulations infeasible. To scope the fast, high fidelity options, the present literature review aims to focus on what CFD theories exist intermediate to LPF and RANS as well as other modeling options that are computationally fast while retaining higher fidelity than LPF.