On a remote island in the South Pacific, Val Stevens (Humphrey Bogart) and Lucille Gordon (Margaret Lindsay) are being married when news of a sinking ship is received. Val rushes off to rescue the survivors, Captain Deever (Paul Graetz) and Eric Blake (Donald Woods). Val runs a pearl business that is threatened when the natives refuse to dive due to the disappearance of several men. In hopes of allaying their fears, Val goes on a dive but is attacked by a giant octopus. Eric saves him by diving into the water and killing the octopus with a knife. Eric later saves Val again by preventing two natives from robbing Val in his office. Doctor Hardy (E.E. Clive) later confronts Eric, both due to the growing mutual attraction between Eric and Lucille, and because Hardy suspects that Eric is actually on the island to arrest Val, who is wanted for murder back in the United States. But the Captain believes Eric to be the murderer, and has his own plan that will effect everyone.
—Patrick Depew