Two different theories postulate that the spit originates either from the tidal swells and currents of Cook Inlet and Kachemak Bay over a millennia of sand buildup, or that it was pushed into place by now-retreated glaciers. In 1899, the Cook Inlet Coal Fields Company laid a railroad track along the spit, connecting the docks to the coal fields along Kachemak Bay. The resulting business led to the development of what eventually became Homer, Alaska. In the 1960s, several hippies, known as "spit rats" traveled from all around to camp on the Homer Spit, many of them becoming successful commercial fisherman over time. The 1964 earthquake shrunk it to 508 acres, and killed most of the vegetation, making it today mostly gravel and sand.

This artificial lagoon is known locally as the "fishing hole". Every spring it stocked with salmon fry from the Trail Lakes hatchery facility. The fry are fed by volunteers so that they will imprint on the location in the normal manner of salmon. They then proceed to live normal lives as wild salmon, returning as adults to the lagoon due to their instinctual desire to mate and spawn. The lagoon is a popular attraction for both tourists and locals, as it is an easily accessible and inexpensive salmon fishery. There is even a ramp for those confined to wheelchairs. During the summer months it can become very crowded if there is an active salmon run occurring, and there is additional competition from harbor seals who often enter the lagoon to chase salmon. The official name is a tribute to the biologist from the Alaska Department of Fish and Game who proposed the idea and managed the project.

The spit sits about 19 feet above sea level, making it susceptible to storm surge. The United States Army Corps of Engineers have stated that a violent enough storm could generate waves of over 30 feet. Tsunamis are also a known threat. An explosion from the nearby Augustine Volcano could bring a giant wave to the Spit within minutes, giving residents very little time to react. However, most tsunamis from other areas in the ocean would probably give Spit-dwellers enough time to get to safety, due to the early warning system operated by the West Coast/Alaska Tsunami Warning Center (WC/ATWC) in Palmer, Alaska. Erosion of the Spit has also been a developing problem over the years, as the ocean side is exposed to heavy waves.

Coordinates: 59°37′12″N 151°27′17″W / 59.62°N 151.45472°W / 59.62; -151.45472