Designed by Frank Piasecki, the HRP Rescuer was not only the first tandem rotor helicopter but also one of the first practical transport helicopters in service. The novel design featured two counter-rotating rotors which would eliminate the need for an anti-torque tail rotor. However, this required the rear fuselage to be curved upwards so that the two rotors were at different height and would not strike each other. This gave it the nickname "Flying Banana" which it would share with its successor, the H-21. Other characteristics included a tricycle landing gear and a fuselage built of metal tubing, a fabric covered front half and wooden ribs. The HRP was built in relatively small numbers, and operated initially by the US Navy which later passed them on to the USMC and USCG where they were key in developing tactics for troop transport and delivery during amphibious assaults (it could carry eight fully loaded troops). There were no foreign operators for the HRP, and it was eventually replaced by the H-21 in the 1950s.

The prototype PV-3 first flew on 1 February 1944 and was followed by a military prototype in 1947. This was designed from the PV-3 prototype. The first production version was the HRP-1 which comprised the bulk of all units built. USCG versions were known as the HRP-1G. A more advanced metal-skinned version was the HRP-2 but only five were built.