The wandering subspace problem for an analytic normincreasing m-isometry T on a Hilbert space H asks whether every Tinvariant subspace of H can be generated by a wandering subspace. An affirmative solution to this problem for m = 1 is ascribed to Beurling-Lax-Halmos, while that for m = 2 is due to Richter. In this paper, we capitalize on the idea of weighted shift on one-circuit directed graph to construct a family of analytic cyclic 3-isometries, which do not admit the wandering subspace property and which are norm-increasing on the orthogonal complement of a one-dimensional space. Further, on this one dimensional space, their norms can be made arbitrarily close to 1. We also show that if the wandering subspace property fails for an analytic norm-increasing m-isometry, then it fails miserably in the sense that the smallest T -invariant subspace generated by the wandering subspace is of infinite codimension.