Supmaori.... I have had great results lately by setting up a cheapie Sony HDR-CX405 on a tripod, 100 yards down the beach, angled directly into the left (or right) that you are surfing. I guess at the field of view vs close-up, then I hit "record" and go surf for 2.5 hours.
If your break is fairly consistent, you can get great results for short money.
and if somebody steals it.... your not losing the farm. My whole set-up was under $150
Plus I get great shots of everyone out there.... they love getting vids in their email ;-)
I'm going to make a post about it.... but this is the quick and dirty version.
here's a sample pic..... and at this angle..... it got all waves from beginning to end.