Emerging offshore renewable energy technologies are expected to become an important part of the futureenergy system, and reliability for these new technologies in different metocean scenarios must be guaranteed.This poses a challenge in extreme weather scenarios like storms, in particular for less mature technologiessuch as wave energy. Not only the offshore survivability must be controlled; the restoration after disruptiveevents and failures should be addressed and optimized. Offshore operations are costly and cannot be carriedout if the weather is too harsh, and the resulting downtime after failures may be financially devastating forprojects. In this paper, the resilience of large wave energy systems is studied with respect to wave conditions,metocean dependent failure rates, and weather windows available for offshore repair operations. A metocean-and time-dependent failure rate is derived based on a Weibull distribution, which is a novelty of the paper.The performance of the farm is assessed using the varying failure rates and metocean data at different offshoresites. Critical metocean thresholds for different offshore vessels are considered, and the resilience is quantifiedusing relevant measures such as unavailability and expected energy not supplied. The resilience analysis iscoupled to an economic assessment of the wave farm and different repair strategies. Our results show thatthe commonly used assumption of constant failure rates is seen to overestimate the annual energy productionthan when a more realistic varying failure rate is used. Two offshore sites are compared, and the availabilityis found to be higher at the calmer site. Most of the evaluated repair strategies cannot be considered to beeconomically justified, when compared to the cost of the energy not supplied.