A Point Absorber Wave Energy converter has been designed using a cost-based analysis. In order to do so a genetic algorithm has been used, this routine was able to change the shape, position and density of the device in order to find the best set of parameters that guarantees the lowest Levelized Cost of Energy. A model based on Cummin's equation has been built in MATLAB and SIMULINK in order to simulate the behavior of the device. The same model has been validated using the open source CFD software IBAMR.