Originally, this temple was known among the locals as "Wat Bang Tong." When citizens and various agencies in Krabi province collaborated to establish the “Project to Create a Buddhist Temple and Mahathat Chedi in Honor of His Majesty the King's 50th Anniversary,” this site was chosen. The project aimed to pay tribute to His Majesty King Maha Vajiralongkorn, who at that time held the title of Crown Prince of Thailand. On November 16, 2006, His Majesty officially renamed Wat Bang Tong to "Wat Mahathat Vajiramonkol" and granted permission for the inscription of the initials “M.W.K.” to be displayed prominently at the temple façade.