Every first time buyer asks the same thing. What does it actually cost to own a boat in Bermuda once you add everything up beyond the sticker price? Honestly, less than you think if you buy the right boat. A lot more than you think if you buy the wrong one. Here's the line by line breakdown we walk every buyer through.
1. The purchase price
Used boats in Bermuda rotate through our inventory weekly. A solid 19 to 22ft center console with low hours and a clean transom typically lands US$25,000 to US$45,000. A 25 to 28ft day cruiser or pontoon runs US$35,000 to US$75,000. Sportfish, motor yachts and bigger cabin cruisers scale up from there. New imports (think Sea Hunt, Boston Whaler, Grady-White, Sea Ray, Crownline) landed in Bermuda inclusive of duty and BMA registration usually come in 15 to 25% above their US dealer price.
2. Bermuda boat import duty (22.25% on CIF)
Import a boat into Bermuda and Customs charges 22.25% of the CIF value. CIF stands for cost, insurance and freight. So on a US$40,000 boat that lands at about US$50,000 CIF after shipping and insurance, duty is roughly US$11,125. No getting around it. Every privately imported boat pays it. Charter boats can apply for reduced duty under specific commercial conditions, but private ownership doesn't qualify.
Worked example: $40K used center console, imported
- ●Purchase price: US$40,000
- ●Shipping (Florida to Hamilton, container or roll on): about US$6,500
- ●Marine insurance for transit: about US$1,200
- ●CIF subtotal: US$47,700
- ●22.25% Bermuda duty: about US$10,613
- ●BMA registration and inspection: about US$500
- ●Wharfage and landing fees: about US$400
- ●All in landed cost: about US$59,213
3. BMA registration
Every boat in Bermuda waters has to be registered with the Bermuda Maritime Authority. The fee scales by length, roughly US$200 to US$700 depending on size, plus a one time inspection. Renewals are annual at about US$150 to US$400. We handle the whole BMA process end to end on every boat we sell, so it's never something the buyer has to figure out alone.
4. Insurance
Bermuda marine insurance for a typical 22 to 25ft center console runs US$1,800 to US$3,000 per year for hull and liability. Larger boats scale up. Insurers want a recent survey to underwrite, which is another reason a pre purchase survey is non negotiable.
5. Mooring or marina slip
Bermuda doesn't have unlimited dock space. Options ranked cheapest to priciest. One, a private dock at your house if you're lucky enough to have waterfront. Free, ongoing. Two, a public mooring buoy through BMA mooring assignment, US$300 to US$1,000 a year. Three, a marina slip, US$2,500 to US$8,000 a year depending on length and location. Hamilton Harbour and Royal Naval Dockyard slips are the most expensive. St. George's and Sandys are generally cheaper.
6. Fuel
Marine fuel in Bermuda runs about US$2.20 to US$2.60 per litre as of 2026, which is about US$8.30 to US$9.85 per US gallon. A typical 22ft center console with a single 200hp outboard burns 20 to 25 litres an hour at cruise. A 25 guest pontoon idling at anchor uses almost nothing. Underway it burns more. Casual weekend use, two or three trips of four hours a month May through October, usually lands at US$1,800 to US$3,500 a season in fuel.
7. Maintenance
Two oil changes a year, prop and shaft check, annual antifouling bottom paint (Bermuda reef growth is aggressive), zinc anode swap, electronics maintenance and the occasional impeller. Budget US$1,500 to US$3,500 a year for a 22 to 25ft outboard. Inboards run higher, especially diesel sportfish. Hauling for bottom work is US$400 to US$900 depending on yard and boat size.
8. Hurricane season storage
Bermuda's hurricane window is June through November. Smart owners pull their boat for serious storms, or just store on stands for the whole off season (December through April). Yard storage runs US$30 to US$80 per foot per season. So for a 24ft boat that's US$720 to US$1,920 for a full off season haul out.
What the year actually looks like
Putting it all together for a typical owner of a 24ft center console used May through October:
- ●Insurance: about US$2,200
- ●Mooring (public buoy): about US$600
- ●Fuel (weekend casual use): about US$2,400
- ●Maintenance and annual haul: about US$2,500
- ●BMA renewal: about US$200
- ●Total annual operating: about US$7,900
Works out to roughly US$660 a month, or US$152 a week, to own and run a 24ft center console in Bermuda. For comparison, a comparable boat chartered once a week through a private operator would cost you US$4,500 to US$8,000 a month. Owning is way cheaper than chartering past about 8 or 10 outings a year.
What we tell first time buyers
Don't undersize the boat to save money. The biggest regret we hear is from owners who bought an 18ft skiff to keep costs down, then realised they couldn't take five friends out safely, couldn't comfortably make the run across Castle Harbour, or felt every chop. The sweet spot for a Bermuda first boat is 22 to 25ft, ideally a center console or dual console with a single reliable outboard. All in landed cost: US$45,000 to US$80,000. Annual operating: US$6,000 to US$10,000. That setup buys you the entire island for the next decade.
WhatsApp Sean at +1 (441) 518-7077 or email info@bdaboats.com for a tailored cost projection on a specific boat you're looking at. We have current numbers on every line above for any size, new or used.
