At Avalor Harbor, a buoy bell wakes Naomi up. Naomi gets ready to start her day. She finishes just as Armando shows up to take her to Avalor Palace. When they get there, Elena takes her to the grand Council Chamber and shows her a mountain of paperwork. Elena explains that when Esteban was Chancellor he did do real work. Now that he's no longer Chancellor, the paperwork has back up and they need to get all caught up. Naomi and Elena are going through all the paperwork when Armando enters the Chamber with a girl named Veronica, who calls Naomi Nomes and hugs her. Naomi explains that Veronica is an old friend of hers she hasn't seen in six years. Veronica reminds Naomi it's her eighteenth birthday tomorrow. Elena throws her a pre-birthday dinner. At the dinner, Veronica reminds Naomi they also have to dig up the time capsule they buried when they were kids the next day. Elena tells Veronica she needs Naomi the next day. Later, Veronica begs Naomi to go anyway and Naomi agrees.
The next day, Naomi and Veronica set sail for Isla de Suenos to dig up the time capsule. When they do, Naomi is saddened when she reads that her dream was being captain of her own ship. Naomi tells Veronica that most days she's not even the captain of her own life. Veronica tells her it's never too late to make a dream come true. Back in Avalor, Ash Delgado and Esteban are seeking out Chatana to free her and have her join their alliance. They find her prison and unleash Old Maruvian runes into the sky. Elena sends for Naomi but Armando tells her that she went Sailing with Veronica, so Elena goes there with Mateo.
Upon getting there, Mateo accidentally frees Chatana and one of her creatures: A Laughing Goblin called a Chiki Chiki, who puts a laughing curse on Mateo and traps him and Elena inside. Elena sends Skylar to fetch Naomi, who can read Old Maruvian. Skylar brings Naomi there and she lets them out. Elena is furious Naomi left and goes to deal with the Laughing Goblin in a huff.
Meanwhile, Chatana has met up with Ash and Esteban, with Ash telling Chatana to join their alliance. Chatana asks Pili what he thinks, and after Pili confirms that Ash and Esteban are indeed very evil (for some reason, the latter more than the former), Chatana accepts Ash's offer.
In Avalor City, the Laughing Goblin is running amock. Naomi stops the Goblin and re-imprisons him. Unfortunately, she doesn't get to the Harbor in time to say good-bye to Veronica. However, she does find Veronica's hat and a note inside telling Naomi that she'll be there for her when she finally decides to become the captain of her own ship and follow her dream.
Naomi tells Elena she is resigning from the Grand Council to pursue her dream. Though Elena insists that she needs Naomi to help her stop Ash, she accepts her decision and gives Naomi her own ship. Naomi tells her she'll be back in Avalor someday. Elena and Naomi share a best friends hug. The next morning, Naomi sails off into the sea.
- Aimee Carrero as Princess Elena
- Jillian Rose Reed as Naomi Turner
- Auli'i Cravalho as Veronica
- Christian Lanz as Chancellor Esteban
- Grey Griffin as Ash Delgado
- Joseph Haro as Mateo
- Carlos Alazraqui as Skylar
- Gina Torres as Chatana
- Joe Nunez as Armando
- Tom Kenny as Chiki-Chiki and Pili
- Chasing Down the Wind
- Auli'i Cravalho, the voice actress of Moana, guest stars as Veronica in this episode.
- Coindentally, this episode was aired on Cravalho's 19th birthday.
- The episode title shared with the My Little Pony Friendship is Magic episode "The Last Laugh".
- Naomi resigns from the Grand Council, becomes Captain of her own ship, and leaves Avalor to explore the world.
- Chatana and Pili are released and join forces with Ash and Esteban.
- The way Chatana grabs Pili's mouth to silence him is remarkably similar to the scene in Aladdin where Jafar grabs Iago by the beak to shut him up.
- Veronica's toy octopus in the time capsule is named Octi, which is the same name as the toy octopus from the Cartoon Network TV show The Powerpuff Girls.
- Pili thinks that Esteban is worse than Ash, suggesting that Esteban might be up to something that Ash doesn't even know about.
- When Pili calls Ash evil and rotten to the core, that is a bit of a reference to the song "Rotten to the Core" from Descendants.
- When Naomi cries out "Vee?" after Veronica comes into the Grand Council room, the former is already seen wearing her anchor necklace, which she doesn't retrieve until they find the time capsule.