SkyWheel is a Ronald Bussink Professional Rides designed R60 Giant Wheel, and was manufactured by Chance Morgan.

Architect James Hubbard, AIA a principal with Pegram Associates, Inc. designed the site, which includes a 5,400-square-foot (500 m2) building with a restaurant, gift shop and the ticket booth.

[4] Prior to the 1970s, the Gause family operated Ocean Terrace in the same location, and the Seaside Hotel next door.

[8] The September 8, 2010, meeting of the Myrtle Beach Downtown Redevelopment Corporation included a discussion of SkyWheel.

TLC planned a show about the wheel's construction, and a camera was positioned above the site at the Slingshot reverse bungee attraction across Ocean Boulevard.

[9] Al Mers, a Pacific Development partner, said later in the month that the steel frame was being built outside St. Louis, while the gondolas were made in Switzerland.

[10][11] Land Shark Bar & Grill opened the same day as SkyWheel, the third restaurant in the city connected with Jimmy Buffett.

On Monday August 21, 2021, It was announced that the SkyWheel would open at 1pm and that the ride's maintenance team has “identified and fixed” the issue, but did not provide anymore details.

[29] On August 25, 2022, it was announced the Skywheel has reopened at 2 p.m. and that the cause of the technical issues was a faulty low voltage weather sensor and recent storms threat area has experienced.

[32] On January 13, 2021, it was announced that the SkyWheel will be lit blue in honor of Lance Corporal Melton "Fox" Gore of the Horry County Police Department who was struck and killed by a vehicle while he was cleaning up debris from an accident that occurred near Highway 22.