Jim is climbing a mountain that has a base 150 feet above sea level. If he climbs 233 feet then descends into a cave 64 feet, how far above sea level is Jim?

Jim climbed 150 + 233 = <<150+233=383>>383 feet above sea level.

This distance subtracted by 64 feet is 383 - 64 = <<383-64=319>>319 feet above sea level. Answer: \boxed{319}.

To determine how far above sea level Jim is, we need to calculate the net change in elevation.

First, Jim climbs 233 feet above the base of the mountain, which is 150 feet above sea level.
So, his elevation after climbing is 150 + 233 = 383 feet above sea level.

Next, Jim descends into a cave, decreasing his elevation by 64 feet.
Therefore, his elevation after descending is 383 - 64 = 319 feet above sea level.

Therefore, Jim is 319 feet above sea level.