If I expect to get water over me, like in my kayak through the waves, I wear a spray-jacket. I got the set-up from an east coast site where they paddle through surf in 45 degree water with nasty weather as well. The ultimate is warm fleece under breathable waders with a long-sleeve breathable spray-jacket. Bone dry and warm all day!

Waders are no problem in the surf or anywhere else.

...this has all been way-figured out by people doing it all the time...

Quietman

http://www.kayakfishingpro.com