Really disappointed no one has yet suggesting putting the new 17th tee on the end of the pier. Think of the sponsorship opportunities!!! Just in time for the new Aquaman sequel...
It is an interesting point though. I've heard that there was great regret over the sale of the property where the 5th green now sits- and the accompanying concessions that needed to be made. Circumstances seem a bit different in this case, but another hole hugging the coast on 17 would have been pretty sharp.
On another note, I've always felt that the 17th hole would be more impressive from the tee if the tee box was elevated just a little bit. Not necessarily a big push-up box, but just another 2 or 3 feet to give you a little more perspective. The current box (boxes) sit at such a low elevation that you really can't see much of anything from the tee. Bit of a waste of that location IMO.