Demon of Paradise (1987)
Thanks to illegal dynamite fishing near a tourist resort in Hawaii, a mythical sea creature (or man in a rubber monster suit) is awoken from deep sleep hibernation and terrorizes the holiday makers and locals alike.
More schlock from the Corman stable which is almost identical to Up From the Depths, except this is better made, better written, better acted and just better to watch. Demon of Paradise is simply better all round.
Although it's still not exactly great and is certainly no Humanoids from the Deep. when it comes to fishy terrors.
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