Rapid development of offshore wind foundation models has resulted in a large number of built structures with generally underestimated foundation stiffness properties and a need to update and validate both the individual structural models and the underlying foundation design frameworks. This paper outlines a structural health monitoring approach, based on the combination of output only structural health monitoring methods and model updating, to estimate foundation stiffness parameters using field monitored data. Field monitoring data from an offshore wind turbine under idling conditions, over a large monitoring period, are presented and operational modal analysis is applied to estimate the modal parameters. Those are compared to modal properties predicted by finite element models, employing either old (API/DNVGL) or new (PISA) foundation design properties, which are calibrated using geotechnical site investigation data. A new approach to interpret seabed level statically equivalent foundation stiffness, in terms of effective lateral and rotational stiffness against load eccentricity, is presented. Seabed level statically equivalent foundation properties are updated by comparison against the observed modal behaviour and the optimised foundation parameters are presented, demonstrating a close match to the predictions of the PISA method.