Typically, performance evaluations of High Speed Craft (HSC) are done via towing tanks, however, these facilities come with a high cost, making them inaccessible to many researchers. An alternative testing technique is the free-running test. It provides significant flexibility by not imposing strict equipment requirements and can be carried out in any body of water, offering a more cost-efficient and practical approach to assessing the overall performance of an HSC. This paper presents the development of a free-running scaled model which involved constructing the hull, incorporating data acquisition systems (DAQ), and designing, integrating, and testing the propulsion and steering systems. In addition, this paper presents methods for monitoring the surrounding sea state using a stereo-vision system and commercial wave buoys.