The Bermuda Depths

The Bermuda Depths is a Japanese American coproduction 1978 fantasy film originally broadcast as a madeforTV movie written by Arthur Rankin Jr. of RankinBass fame. Special effects and creature elements were handled by Tsuburaya Productions, most famous for the Ultraman franchise.

Magnus Dens Leigh McCloskey lies asleep on a Bermuda beach, his hat shading his eyes from the sun. He is approached by a beautiful but mysterious woman Connie Sellecca, who kneels next to him and notices the coral necklace he is wearing. Removing his hat, she seems to recognize him, and gently caresses his face.Magnus dreams of his childhood, playing on the same beach. He finds a turtle egg in the sand, and calls to his friend Jennie to have a look. As they watch, the egg hatches. ........

Source: Wikipedia