Really not bad at all.
So, let me preface this by saying that I am a connoisseur of bad movies. It defined my friends' and my younger years, and I own countless on DVD/VHS. When I saw that "Spring Break Shark Attack" was on, I thought, "Hell yes, here we go."
For this type of movie, it really wasn't bad at all. The acting was solid, the "coming of age" aspect was built and executed well, and the special effects could have been a lot worse. Maybe I'm just getting easier to please the older I get, but I liked it, and actually cared about the characters.
I thought this was a fun and likable, though obviously easily forgettable, movie. It was a nice way to spend a couple hours on an afternoon while I did some cleaning.