A third strike was doctrinally expected but not firmly planned because aircraft losses and available strength after the first two waves were unknown. The available bomb loads would probably have suited attacks on cruisers and infrastructure. Once the American carriers proved absent from harbor, keeping aircraft ready to meet a possible counterattack was a rational operational choice. Another raid could have exposed the Kidō Butai while its striking power was committed over Oahu. American carriers alerted by the first two attacks could have been approaching within striking range.
Notable Point · 48:29-50:13
Why withholding a third Pearl Harbor strike made sense
The missing American carriers made fleet defense a stronger priority than an improvised third strike against Pearl Harbor's cruisers and infrastructure.