The Eddie Aikau Big Wave Invitational is a no-go this week, but the event could still take place if weather conditions align over the next few weeks, according to organizers.

All eyes were on an extra large swell on the way to the isles, which prompted organizers to issue a yellow alert on Thursday. But organizers followed up with a red alert on Monday.

“Unfortunately, the swell is predicted to peak overnight, and it’s not big enough for Thursday and Friday,” said contest director Liam McNamara. “There’s two major factors — the winds are predicted not to be the greatest, and also, the timing of the swell. It peaks overnight. We need the swell to peak during the day.”

The legendary contest will run at Waimea Bay on Oahu’s North Shore if wave face heights consistently reach 40 feet during the window between Dec. 14, 2023 and March 12.

Organizers use a three-colored system to provide updates on the status of the contest.

Green means The Eddie is a go and could be held in the next two to three days. Yellow means there is a possible “Eddie-size swell” arriving in the next five to seven days. Red means no big-wave surf is expected in the next week.

The Eddie was a go on Jan. 22 last year — the 10th time it was held since the contest began in 1985.

Honolulu lifeguard Luke Shepardson was crowned the winner of The Eddie last year, scoring 89.1 points out of a possible 90, edging out defending champion John John Florence.

The list of 2023-2024 invitees, which includes 40 surfers including Shepardson, along with 23 alternates, is posted online.