Yearly maintenance cost of a boat depends on the size, for a big motor yacht the requirements are more and for a speed boat the requirements are lesser.
For the ease of calculation, We will try to give round up figures and slightly on the higher end of expense.
Boat is very much like your home and car, you will require to fix normal wear and tear, plus some things that you must do to ensure it is running well. Those things are.
1) Twice a year lifting the boat up, cleaning bottom and painting it with antifouling paint, and replacing zinc anodes. This is done every six months.
For a 20-30 ft speed boat : HK$ 12,000 – 15,000
For a 40-50 ft motor yacht : HK$ 25,000 to 30,000
For a 50-70 ft motor yacht : HK$ 30,000 to 50,000
2) Once a year engine servicing, such as oil change, filters change etc.
For outboard motors : HK$ 5,000 to 8,000 (from official dealers) Can be cheaper from other local mechanics.
For Twin Inboard diesels 2 x 200hp to 2 x 600 hp : HK$ 35,000 to 45,000 (From official dealers) Can be cheaper from local mechanics.
For Bigger Inboard Diesel Engines : HK$ 45,000 to 60,000 (from official dealers) can be cheaper from local mechanics.
From non-dealers or local mechanics the price is usually around 15 % to sometimes 40% cheaper.
When the engines are under warranty, normally people use official dealers because it will be more safer in case the boat owner has to claim any warranty services later. Many owners still use official dealers because mainly they provide more accountability if things go wrong. Some also use other professional engineering companies who hire experienced mechanics. Many times we see for older boats, when getting spare parts from local dealers the prices are very high, compared to other mechanics who order online spare parts for fraction of the price.
3) Mooring Berthing Costs.
Dry storage for speed boats, from 15 ft to 35 ft : Yacht club charges HK$ 2000 to 4000 monthly (but requires to have membership and waiting list), Local shipyards cost 6000 to 7000 monthly.
Swing mooring on the sea, unofficial renting for boats around 30-40 ft : HK$ 4,000 to 6000 monthly
Swing mooring on the sea, for bigger boats such as 50 to 80 ft : HK$ 8000 to 20,000 monthly
for walking berths in Marina club and yacht club, the yacht owners require memberships fees and the clubs usually put customers on waiting list. Prices for membership range from few hundred thousand to few million HK dollars and monthly walkway berth rental is around 7,000 to 20,000 monthly depending on size of your boat.
4) Captain and boat boys.
Mostly yacht owners hire one full time captain and part time boat boys as needed for boats which are larger than 50 ft.
Full time captain salary starts at : HK$ 25,000 to HK$ 35,000 Depending on how qualified and suitable etc.
Boat boys full time salary : HK$ 15,000 to 25,000 Depends on suitability and requirements of job.
Part time Boat boys to help captain on a trip will charge, HK$ 1000 per day of boating trip, approximately.
5) Teak floor maintenance.
Teak on outer deck area, on side decks sometimes on flybridge is an expensive option, when not maintained it makes the boat look horrible, and when maintained it adds to the beauty of the boat.
Teak requires yearly painting with teak oil.
Your full time boat boy or captains can do it for free, by just buying over the counter teak oils.
Or else part time labor charges around HK$ 3,000 to HK$ 5,000 for a job which requires to be once every year, for a boat of 50 ft size to teak oil the cockpit and swim platform. More if the boat is bigger.
6) Buffing and Polishing of the hull : This is not normally required for boats that are maintained reasonably well, but some old boats can require polishing and buffing maybe every couple of years or so. The cost of re-buffing a boat varies from different shipyards or even free lance labor, a 40-50 ft boat rebuffing and polishing can cost around HK$ 10,000 to 20,000 approximately.
More for bigger boats.
These costs are just general estimates, that can change from time to time, and different shipyards have different charges for different sort of works, so it is not be used contractually but only for purpose of understanding estimated cost of yacht maintenance.