Ok I remember watching this film in the early 90’s.  It was color, and american I believe. I did watch it on TV. I remember there were two families (pretty sure two seperate ones) with two younger girls that became friends. It is set at a beach or beach town. They cause mischief and I think one of them is obsessed with an older male ( I think)  Towards the end of the film there is an altercation and the “bad” one shoots the other one with a hand gun and the girl falls into the ocean and assumed dead. The last few scenes shows the girl on a assumed fishing boat saved and bandaged up.. It was an odd dark’ish film. That is all I can recall unfortunately.