Point Stephens marks the outermost tip of the Tomaree Peninsula, its historic lighthouse a genuine maritime landmark that has guided shipping past this stretch of coast for well over a century, including the very waters where the SS Catterthun ran into the gale that led to her loss on a reef near Seal Rocks in 1895. The reef fringing the point itself is boat-accessible only, given the lack of any vehicle or walking track to the lighthouse, and its fully exposed position — open to swell from virtually every direction except due west — makes it one of the more weather-dependent dive sites in the greater Port Stephens area, generally only diveable in settled, calm conditions that align with a specific weather window. Underwater, the site offers a genuine outer-headland character distinct from the more sheltered inner-harbour and island sites closer to Nelson Bay, with pelagic fish more likely to be encountered here given the point's position jutting into open water, alongside the general mix of temperate reef fish and invertebrates typical of the broader Port Stephens region.

Because of its remoteness and exposure, Point Stephens sees relatively little dive traffic compared with Fingal Island or the closer island group, and it is more often visited by private boat owners with local knowledge of the conditions than featured on a standard Nelson Bay charter schedule. For divers drawn by the site's maritime history and its position at the literal end of the peninsula, a calm-day visit offers both a genuine sense of remoteness and a worthwhile, if lesser-known, addition to a longer Port Stephens diving stay.

Point Stephens sits at the outer tip of the Tomaree Peninsula beyond Fingal Bay; there is no vehicle or direct walking access to the lighthouse itself, and the reef is reached only by boat from Nelson Bay, running south around Tomaree Head and past Fingal Island, a trip of around 30-40 minutes depending on conditions.

Point Stephens is the most exposed headland on the Tomaree Peninsula, fully open to ocean swell from the north-east through to the south — dived only in genuinely calm, settled weather, and it was in a gale near this point that the SS Catterthun met the conditions that led to her loss on a reef further north near Seal Rocks in 1895, a reminder of just how exposed this stretch of coast can become.

Descend onto the fringing reef off the point and work its structure at 10-25 m, watching for pelagic fish typical of this exposed outer headland and general Port Stephens reef fauna, staying alert to current given the site's fully open position.

Occasionally included by Nelson Bay operators as an alternative to Fingal Island; more commonly dived by private boat given its remote, outer-point position.