Opening Chests Underwater will Lag out the Game

Put the summary of the bug you're having here

What I expected to happen was...:
Opening the chest underwater without any delay or game crashing (attempted to do so while fully submerged in water blocked, also attempted while in a magma block bubbles and in a doorframe underwater)

What actually happened was...:
When you go underwater, and then select the chest to open it, it will not open and the game lags out. When I exit and reenter the world, it is at the moment right before I open the chest underwater

Steps to Reproduce:
1. Find a chest or place a chest in a body of water 
2. After placing the chest, fully submerge character in water blocks and attempt to open chest.
3. Game will freeze for more than 5 seconds, and you will have to exit and reenter. Once you reenter the world the chest will open