The aims of this paper are to introduce the structure of a point absorber type wave energy convertor (WEC) mounted above sea level, to analyze the motion characteristics and power absorptions of such a WEC and to describe the numerous advantages of installing it in the nearshore. The motion equation is solved by representing the excitation force with the dynamic wave pressure and obtaining an approximate system transfer function. The possibility of the buoy becoming airborne or submerged is considered and the power absorption is increased optimally by reshaping the frequency response using a flywheel. The time, phase and spectral averages of power absorptions are presented for offshore waves, nearshore waves and for concentrated nearshore waves using standard wave spectrums and compared. Approximate gains possible with linear and rectangular arrays are also presented. Considering different phase distributions, it is shown that downgrading WECs based on short term power absorptions is not justifiable. With a buoy of radius 2 m, the power absorption of this kind of a WEC is estimated to be about 114 kW in the deep sea and 117 kW in the nearshore, when the energy flux is about 31 kW/m. By concentrating just 13.6 kW/m nearshore waves, it could be increased to 186 kW. If a 3-element longshore in-line array is placed inside the wave concentrator, the total power absorption could be about 556 kW. A 9-element rectangular array would be capable of absorbing about 1 MW by making use of the remaining energy of the down wave.