The land that Half Moon Bay is now situated on was Crown Land until 1947, when Helge Samuel Abrahamson bought it under the Homestead Act and remained until 1960. He then sold 30 acres to Dave McCutcheon and Paul Galoien, who had the property subdivided into three crescents and one street. Half Moon Bay was incorporated as a Summer Village on November 7, 1977 and became effective on January 1, 1978. This made Half Moon Bay the 35th Summer Village to be formed in Alberta. Half Moon Bay consists of 67 lots, 64 of which have homes. There has been minimal development.