A long-range, high intensity handheld searchlight has several novel features that improve existing designs. The invention minimizes electrical penetrations to the handheld searchlight by having a magnetic ON/OFF switch. A heat sink is disclosed that is in thermal contact with the external housing without physically penetrating the housing. Additionally, when an external power source in required, power transfer is achieved by inductive coupling to further eliminate electrical penetrations that affect watertight integrity. Also disclosed is a lamp socket assembly for a handheld searchlight that has springs that act as floating contacts within a lamp socket hole. The springs provide proper alignment for the lamp that is critical to achieve a high-intensity light beam. A lamp is disclosed that has its electrodes adjacent to one another for easy installation and removal of the lamp. A shoulder strap is further disclosed to facilitate transportation and use of a handheld searchlight.