The purpose of this study was to identify the relationships among leisure constraints, leisure constraints negotiation, and recreation specialization for water-based tourism participants in Busan. Through this study, coastal cities of Korea (e.g., Busan) may attempt to develop marine leisure infrastructure. To achieve the goal of this study, 339 surveys were collected from male and female adults who planned to participate in water-based tourism event in 2017 were delineated as the study population. A convenient, non-random sampling method was used to select participants. After examining the correlation among leisure constraints, leisure constraints negotiation and recreation specialization, the relationships among the three variables was assessed through multiple linear regression analysis. The results of this study were as follows. First, regarding sub-factors of leisure constraints for water-based tourism participants, intrapersonal constraints, interpersonal constraints, and structural constraints had negative effects on leisure constraints negotiation. Second, the sub-factors of intrapersonal constraints and structural constraints had negative effect on recreation specialization, and interpersonal constraints were not statistically significant. Third, leisure constraints negotiation had a partially positive effect on recreation specialization.