An ocean wave energy absorbing kite system 200 captures an ocean wave's kinetic energy as a force on a submerged, reciprocating panel 202 that drives the panel back and forth in an oscillating motion. The force applied to the panel is transmitted to a power generator 244 through opposed flexible ropes or lines 214, 224 loaded in tension. Potential energy is captured from the wave as a vertical force when a buoyant volume attached to the energy absorbing panel or kite member 202 rises on a passing ocean wave's peak, and transmits the force through flexible ropes or lines in tension to a power generator. Optionally, the shape of the panel is configurable to limit or restrict absorbed wave energy, thereby preventing damage from larger storm-generated waves.