This plane was virtually unknown until a local spearfisher told Pete Peterson, owner of a local dive shop, that he had seen a plane very deep but had never gone down to it. After a lot of searching and research, the plane was found in June, 2004 laying at 200ft just a little south of Alutom Island.
CAUTION: This is a very deep dive and only very experienced or technical divers should attempt it. The wreckage shows severe damage but the wings, cockpit, and some of the fuselage is still identifiable.
This picture was taken during the invasion of Guam. You can see ships in the background and troops moving ashore. The plane wreck was sitting on the beach with Alutom island in the background. It is suspected that this same plane is the one found because it has one wheel missing and the engine has been removed. This is identical to the zero at 200ft.
The story of the search for this wreck is here.
In the early 50's a salvage company came to Guam and removed most of the wreckage on the reefs and island, and most of it was dumped or towed out into deeper waters. That's probably what happened to the above plane.
Another ZERO found on Guam behind a high school: This is a great story