Perhaps one of the big screen’s most notorious flops, Waterworld sent director Kevin Reynolds’ respectability to a watery grave and almost sank Kevin Costner’s career along with it. Before the advent of green screen the film’s aquatic sets proved to be a logistical nightmare, one that saw the crew burn through a multi-million dollar production budget in a matter of months.
The biggest culprit was a huge 1,000-ton floating atoll that was created off the coast of Hawaii. This specially built island measured a quarter-mile in circumference and used up all of the available steel on the Hawaiian islands, forcing producers to ship in more from California! The movie went about $75 million dollars over budget, mostly in set costs. Adding that to whatever was in the original budget and we're probably well over $100 million.