Goofy and Donald are at a marina where they hire a "U-Drive Sail Boat". After Donald boards, Goofy follows but stops partway along to untie the boat. After Goofy gets on board, Donald inspects the sail mechanism.
Aware of Goofy's intentions, the seagull migrates from Donald's head to Goofy's just as Goofy brings the club down on Donald's head. Upon realizing where the bird is now, Goofy hands a dazed and angry Donald the club and is promptly hit on the head when the seagull changes sides again. Donald then grabs the club and begins repeatedly hitting Goofy on the head, however Goofy is distracted by the bird flying away. Donald stops to inspect the damage but is surprised when he sees his beating Goofy has left lumps on the club.
As the hook swings past Donald it hooks itself onto his shirt, sending Donald circling over an oblivious Goofy's head. Goofy then casts the line far out from the boat, and as Donald sails over the water he is followed by two sharks. After falling underwater, Donald finds himself face-to-face with a shark, but after frantically swimming away from it he finds himself in the mouth of another shark, which he promptly swims out of and away from. But while Donald is fighting the sharks, Goofy is busy trying to untangle his fishing line but is getting it progressively even more tangled. Donald is only rescued when the sharks he is holding take off, spinning Goofy around the boat several times and prompting him to reel in, only to find instead of a fish at the end of his line, Donald, almost similar to how On Ice, and Goofy complies, however he accidentally drops him bill-first into the sail's coin slot, which sends the mast shooting out and folding into place. The film ends with Goofy relaxing on the sailing boat singing "A Life on the Ocean Wave", with Donald's bill still stuck in the coin slot, trying to get it out.