Like her sister ships, Myrtle Hazard is designed and created to perform search and rescue missions, port security, and the interception of smugglers.

Her high-speed boat has over-the-horizon capability, and is useful for inspecting and checking out other vessels, and deploying boarding parties.

[3] It took the Myrtle Hazard two months to sail from Key West, where she completed her acceptance trials, to her homeport of Santa Rita, Guam.

[4] She was formally commissioned in Guam along with her sister ships Oliver Henry and Frederick Hatch on July 29, 2021.

[7][8] In 2010, Charles "Skip" W. Bowen, who was formerly the United States Coast Guard's most senior non-commissioned officer, proposed that all 58 cutters in the Sentinel class should be named after enlisted sailors in the Coast Guard, or one of its precursor services, who were recognized for their heroism.