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Ocean wave energy has the potential to play a crucial role in the shift to renewable energy. In order to improve wave energy conversion techniques, it is necessary to recognize the sub-optimal nature of traditional sequential design processes due to the interconnectedness of subsystems. A codesign optimization in this paper seeks to include effects of all subsystems within one optimization loop in order to reach a fully optimal design. A width and height sweep serves as a brute force geometry optimization while optimizing the power take-off components and controls using a pseudospectral method for each geometry. An investigation of electrical power and mechanical power maximization also outlines the contrasting nature of the two objectives to illustrate electrical power maximization’s importance for identifying optimality. The codesign optimization leads to an optimal design with a width of 12 m and a height of 10 m. Ultimately, the codesign optimization leads to a 62% increase in the objective function over the optimal design from a sequential design process while also requiring only about half the power take-off torque.