Due to its spatial modulation feature and potential applications, optical camera communication (OCC) has gained significant attention in recent years for a range of applications including underwater. Nonetheless, due to the low frame rates of the camera, the OCC data rate is rather low, which is why multiple-input-multiple-output (MIMO) has been adopted to compensate. In MIMO systems, however, the signal from one light emitting diode (LED) may result in interference on the image sensor (i.e., the camera) resulting in inter-pixel interference (IPI). This paper presents a comprehensive model of the underwater OCC (UOCC) and experimentally verifies its performance under IPI by comparing signal to interference and noise ratio (SINR). The effect of distance between LEDs according to LED diameter D on signal to interference ratio (SIR) is presented and results indicate that coastal water has the SIR gain ∼2.5 dB for the link span of 1 to 6 m, and for harbor water channel length from 0.4 to 1.4 m the gain increased from ∼2 to ∼5 dB for d of 2D compared with d of 0.5D.