Erin is the fifth named storm to develop during the Atlantic hurricane season, which started just over two months ago. Last week, Tropical Storm Dexter formed in the western Atlantic but didn't pose a threat to land. In early July, Tropical Storm Chantal made landfall on the Carolina coast, bringing deadly flooding to the region.

Hurricane Erin is forecast to remain well offshore but still bring hazardous currents and possible erosion like previous offshore hurricanes before it.

Forecasters are tracking a new disturbance in the Atlantic Ocean as Hurricane Erin, a Category 5 storm, undergoes an eyewall replacement cycle, according to a Saturday night update from the National Hurricane Center.

Hurricane hunters with the NOAA flew through the eye of Hurricane Erin after it rapidly intensified into a rare Category 5 hurricane. Erin is expected to continue to fluctuate in intensity as it undergoes an eyewall replacement cycle.

The effects of Hurricane Erin are expected to be felt up and down the East Coast, even if the storm remains at sea. Much of the shore from Florida to the Mid-Atlantic could see a high risk of rip currents as soon as Monday.