Underwater robotic surveys can be costly due to the complex working environment and the need for various sensor modalities. While underwater simulators are essential, many existing simulators lack sufficient rendering quality, restricting their ability to transfer algorithms from simulation to real-world applications. To address this limitation, we introduce UNav-Sim, which, to the best of our knowledge, is the first simulator to incorporate the efficient, high-detail rendering of Unreal Engine 5 (UE5). UNav-Sim is open-source and includes an autonomous vision-based navigation stack. By supporting standard robotics tools like ROS, UNav-Sim enables researchers to develop and test algorithms for underwater environments efficiently.