Point Break was one of the best surfer movies ever (alright, it's not a large field). Keanu Reeves plays a cop who goes undercover to catch the 'Dead Presidents', a bunch of surfers-cum-bankrobbers, led by Patrick Swayze as a zen surfer. Really!
Kathryn Bigelow packed the film full of great, adrenalin set pieces even while cranking up the frankly laughable male bonding, with Lori Petty as a disposable surfer chick who falls for Keanu's charms (Keanu in rubber - who wouldn't?)
Having Gary Busey from the surf classic "Big Wednesday" play the old mentor to Keanu is a great touch, too. (He also gets the best line, but I'm not sure I can repeat it here...)