I do custom woodworking and finishing for a living and I've used waterbased finishes almost exclusively in my shop for the past 8 years. I've built a few CLC kayaks and I don't think I would use any waterbased finish on a boat. It might work, and might hold up ok for a few years, but when it breaks down, it's likely to require the finish to be fully stripped and sanded, whereas an oil-based varnish can be touched up and recoated periodically. I use Epifanes for my kayaks and other exterior woodwork. The slight yellowing effect of varnish rarely looks bad. We call it "warmth". ;)

Thank you Larry - order placed :)