In a thread started by Melvyn Hunter Morrow, where he asks us if we consider the 17th hole at The Old Course gimmicky, one contributor mentions that the shoreline on the 16th at Cypress Point is out of bounds, i.e. not defined as a lateral water hazard. This was news to me, and I have thus far both noticed, on the better oceanside courses I have seen, and assumed for the ones that I have yet to see, that the tendency is to define the beaches or clifftops as lateral hazards rather than O.B.
I believe in the lateral hazards to encourage risk-taking, where the angles are appropriate. I have suggested this on some existing courses. The clubs worry that red stakes, instead of white, will make play even slower than it is today. Sure, we must speed up play, but we also need to make the golf holes exciting, a la Mackenzie, who said "Water holes should tempt, not torture".
If not already discussed here before, it would be interesting to get an overview here on how this is done on the most notable seaside courses. Of course this will also apply to courses next to major lakes or rivers.