Can some please explain the differences for me. Also can anyone tell me what's biting in the first week of May. I am trying to decide for my first charter boat in OBX. We will be staying in Buxton if that matters at all.

Okay Buxton that answers a big question on where you fish out of and that would be Hatteras Inlet. I really don't think you want to ride all the way up Hatteras Island to the Northern Fleet using Oregon Inlet. I run a charter boat out of Wanchese (Oregon Inlet) and we do it all but are Wreck/Bottom Fishing Specialists. Love to have you, but do you want an hour ride when you can drive 20 minutes. Fishing out of Hatteras can be different than out of Oregon Inlet depending on the time of year, but I won't go there. Inshore, Nearshore and Wreck. A lot to be said and somewhat confusing and in some cases "Double Talk". I will answer based on my area and not specifically Hatteras.
Inshore and Nearshore have to be talked about together. Depending on Marina, Boat or Inlet Fished they can be the same. A better use of words would be INSHORE OCEAN Fishing vs. SOUND & INLET Fishing . Depending on who you talk to some will say Inshore is not Offshore DUH! That really explains a lot. Then you will get a definition that Nearshore means either Ocean OR Sound wherever the fish are or WEATHER dictates. In other words Captains Choice. That would mean if the Ocean is rough you will be in the Inlet or Sound "Nearshore". In my area the words are interchangeable and Weather and Fishing Conditions will dictate where you fish, but generally a boat will strive to fish in the Ocean. I recommend that if you have a preference you clarify that you only want "Inshore or Nearshore" OCEAN or acceptable to Captains Choice. Wreck Fishing is totally different and all Ocean. Depending on Season or Species Wreck Fishing in my Area can be anywhere from 15 to 30 miles out. A couple of small boats fish Inshore Ocean Wrecks out 4 to 8 Miles. I hope this helps. My experienced opinion is If You Can Afford It do a Wreck Trip. More productive, Better Eating Fish and generally Bigger Fish than any Inshore or Nearshore. I know there will be different thoughts expressed here. But with over 50 years Charter, Head Boat and Commercial Experience I take pride in providing the best trip for your party and fishing expectations within your Budget. Have fun.

Thanks for the lengthy response, I appreciate it the knowledge. I also sent you a DM

Since you are staying south, check out the little clam boat. They do offshore bottom fishing. Your group can all be pulling up fish at the same time. They will also troll back and give you a chance to catch mahi or other fish as well depending on what is around at the time.

I’ll put in a plug for the Albatross fleet out of Hatteras as well. They’re great guys. They are charters. One boat is “nearshore” normally and the other two are offshore trolling- dolphin, tuna, wahoo, etc.