Hainan, as a popular tourism destination, is well-promoted by the Chinese central government. In particular, both central and local governments encourage Hainan’s sport tourism-related professionals to develop sport tourism as one of the most important tourist activities in Hainan. However, previous research has not reported on Hainan’s sport tourism strengths, weaknesses, opportunities, and threats as a tourism destination or a sports event host. This study uses SWOT analysis to identify the strengths, weaknesses, opportunities, and threats in the context of Hainan’s sport tourism development. A total of 12 dimensions, including branding, culture, finance, infrastructure, location, market, nature, policy, product, specialty, sustainability, and tourist were generated from our data analysis. In addition, a total of five future directions, including emphasizing event-oriented sport tourism, prioritizing sport motivation, identifying major sport tourism markets, making the rational use of sport tourism resources, and nurturing sport culture, are recommended as a result of this study.