The devastating impacts of tsunamis on humans and the strategic infrastructure for naval defense emphasize the requirements for coastal protection. Furthermore, offshore floating platforms have been deployed extensively to accommodate the expanding need for oil and gas exploration, as well as wave and wind energy extraction. They are commissioned for limited applications, which makes them uneconomical. In this study, a novel attempt is made to combine the functional aspects of energy harvesting with coastal protection. This study investigates the design and development of a smart multi-utility bioinspired floating offshore platform: TSUSUCA-DOLPHIN to act as a tsunami barrier in addition to a wave energy extraction device. In addition to wave energy extraction, solar panels are placed on the body for additional energy capture. The design follows a bio-inspired geometry to attract tourists as well as under normal sea states, can act as a training center for sea sickness. The conceptual design and working mechanism are discussed, and the dynamic response of TSUSUCA-DOLPHIN is presented through numerical and experimental investigations under regular and irregular waves. A bio-inspired dolphin-shaped body is coupled with a linear motion electricity generator (LMEG), which is connected to the base through hinges. The proposed design distinguishes it from the other wave energy converters that operate in normal sea states. The bio-inspired device and its performance confirms the proof-of-concept while the presented study shall become a prime-facie towards the development of more similar devices to harness wave energy.