Extreme sport athletes perform in environments that are characterized by danger, unpredictability, and fear, and the consequences of a mistake include severe injury or death. Maverick’s is a big-wave surfing location in northern California that is known for its cold water temperatures, dangerous ocean wildlife, deep reef, and other navigational hazards. The purpose of this study was to use a phenomenological framework to understand the psychology of big-wave surfing at Maverick’s. Seven elite big-wave surfers completed in-depth phenomenological interviews and discussed the psychology related to various stages of big-wave surfing, including presurf, in the lineup, catching the wave, riding the wave, wiping out, and postsurf. Big-wave surfers described a variety of experiences associated with surfing at Maverick’s and discussed several ways that they coped with its challenges. The results provide a greater understanding of the psychology of participating in an extreme environment.