Generation and validation of the Chilean Wave Atlas database

•A reliable hindcast database was developed for the Chilean Wave Atlas (oleaje.uv.cl).•Extreme wave accuracy is lower than for mean conditions.•A multi-criteria performance score was defined to select optimal WWIII setting.•Ardhuin et al. (2011) WWIII settings produce the best overall performance in Chile.•Caires and Sterl (2005) error correction method significantly improved WWIII results.