A floating pool monitor and alarm device is disclosed with a 360 degree HD camera that captures live pool video and wirelessly transmits it to a mobile device of a pool owner. The device allows for remote monitoring of the pool. The HD camera is enclosed by a transparent dome that is disposed at the bottom of the device, thereby capturing the pool video from an underwater perspective, which allows visibility below the surface of the water down to the bottom of the pool. The mobile device includes a mobile app that displays the live video feed and enables the pool owner to hear audio from the poolside, speak to anyone in or around the pool via a speaker, arm or disarm an alarm, receive alarm notifications, make emergency calls, and view video with night vision to show the pool when light is low.