The design of wave energy converters should rely on numerical models that are able to estimate accurately the dynamics and loads in extreme wave conditions. A high-fidelity CFD model of a 1:30 scale point-absorber is developed and validated on experimental data. This work constitutes beyond the state-of-the-art validation study as the system is subjected to 50-year return period waves. Additionally, a new methodology that addresses the well-known challenge in CFD codes of mesh deformation is successfully applied and validated. The CFD model is evaluated in different conditions: wave-only, free decay, and wave–structure interaction. The results show that the extreme waves and the experimental setup of the wave energy converter are simulated within an accuracy of 2%. The developed high-fidelity model is able to capture the motion of the system and the force in the mooring line under extreme waves with satisfactory accuracy. The deviation between the numerical and corresponding experimental RAOs is lower than 7% for waves with smaller steepness. In higher waves, the deviation increases up to 10% due to the inevitable wave reflections and complex dynamics. The pitch motion presents a larger deviation, however, the pitch is of secondary importance for a point-absorber wave energy converter.