In recent decades, coastal communities globally have experienced increased frequency and intensity of flood hazards, especially in developing nations. An increase in flooding has often been attributed to population growth, rising sea levels, extreme weather events, rapid urbanization, and poor land use, often exacerbated by insufficient urban flood risk management policies. However, flood risk management is complex and necessitates an in-depth look at factors that drive changing flood dynamics in coastal cities. This study used a participatory approach to identify, categorize, and analyze drivers of change in the flood-prone city of Limbe, Cameroon, a major tourism hub and contributor to Cameroon’s GDP. The study engaged key stakeholders, including community members, government authorities, academic institutions, and non-governmental organizations. The study led to the identification of 46 major drivers classified into six clusters. The study findings emphasized four key priority areas to enhance policy and community resilience: restoring natural buffer zones like wetlands, increasing local involvement in flood risk planning, implementing risk-informed land use regulations, and investing in flood infrastructures. To ensure effective flood risk management in Limbe, a collaborative bottom-up approach involving all stakeholders, especially marginalized community members, is necessary to tailor solutions that meet their needs.