Included with the price of admission to Carowinds, the water park is owned and operated by Six Flags Entertainment Corporation.

In 2008, Cedar Fair added a 600,000-US-gallon (2,300 m3) wave pool, Bondi Beach, increasing the total size of the water park to 20 acres (81,000 m2).

[2] As part of the multi-year expansion at Carowinds, Boomerang Bay added Surfer's Swell and Dorsal Fin Drop for the 2014 season.

On August 27, 2015, Carowinds announced that Boomerang Bay would undergo a major expansion in 2016 and would be renamed Carolina Harbor.

On August 15, 2019, Carowinds announced “Boogie Board Racer”,[4] the longest mat racing slide in the southeast.