Even though ocean waves around the world are known to contain high and dense amounts of energy, wave energy harvesters are still not as mature as other forms of renewable energy harvesting devices, especially when it comes to commercialization, mass production, and grid integration, but with the recent studies and optimizations, the point absorber wave energy harvester might be a potential candidate to stand out as the best solution to harvest energy from highly energetic locations around the world’s oceans. This paper presents an extensive literature review on point absorber wave energy harvesters and covers their recent theoretical and experimental development. The paper focuses on three main parts: One-body point absorbers, two-body point absorbers, and power take-offs. This review showcases the high amount of work being done to push point absorbers towards technological maturity to eventually kick off commercialization and mass production. It should also provide a good background on the recent status of point absorber development for researchers in the field.