The Irish 49er team of Robert Dickson and Sean Waddilove won their final race but it wasn't enough to secure a place in the medal race in Tokyo.
Following a delayed start to the action due to a lack of wind, the duo recorded a third-place finish in race 10, were 17th in race 11 and came home in first place in race 12, their second victory of the week.
That left them in 13th place overall with only the top ten progressing.
The pair finished just eight points off 10th place meaning Thursday's disqualifications due to an overweight harness cost them a place in the final.
Had the duo's original finishes in races five and six stood they would have been eighth in the standings.
However, that wouldn't have been enough to overhaul the leading trio of the Netherlands, Great Britain and Spain for a medal.
Dickson said: "I'm pretty proud of the way we sailed, it's really good to finish on a high with the last race, and pretty amazing that we got two race wins.
"We've learned a lot from these games and we're going to bring that forward to [Paris] 2024."
Waddilove added: "Overall, it was a very positive experience and we've learnt plenty from this Olympic experience that we can bring forward.
"My biggest takeaway from this week is that we were very much capable of competing against these guys that have done multiple Olympics and have medals and medals under their belts and there's no reason why we can't get to 2024 and be medal contenders."
