An iteratively coupled solution method for the calculation of unsteady sheet cavitation on marine current turbines with a potential-based Boundary Element Method is investigated. The solution of the linear system of equations is obtained with an iterative technique which avoids a new matrix inversion at each iteration step in the prediction of the cavity planform. The solution method explores the fact that only the source strengths on the panels beneath the cavity change due to the presence of the cavity. The advantage is that the complete system matrix is identical to the matrix of the wetted flow problem and needs only to be inverted once at each time step. The numerical studies are carried out for a marine current turbine, where a significant reduction in the computational time is obtained with the iteratively coupled technique in comparison with the classical approach to the cavitating problem.