45' 1979 Formosa 46 Cutter

1979 Formosa 46 Cutter – “Kapai”
Offered at $100,000
 LOA: 43’9” | Beam: 12’8” | Draft: 5’1”

Classic Beauty. Proven Performance. Liveaboard Comfort.

Step aboard Kapai, a timeless 1979 Formosa 46 cutter-rigged cruiser, and discover a vessel designed to go the distance with elegance and reliability. With her hand-laid fiberglass hull, fully enclosed hardtop cockpit, and beautifully varnished teak interior, Kapai is equally at home offshore, at anchor, or as a gracious liveaboard. She's been well maintained and thoughtfully upgraded to ensure comfort, durability, and independence at sea.

• Cutter-rigged bluewater cruiser with full sail inventory

• Two spacious staterooms with two private heads

• Solid fiberglass hull – no blisters reported

• Custom “sugar scoop” stern for easy water access

• Diesel genset + solar power for self-sufficiency

• Recently priced to sell — excellent value for her class

Kapai's interior is a warm, inviting space finished in 100% golden teak with brass opening portlights and a teak cabin sole throughout. Her layout is ideal for liveaboards or extended cruisers:

• Salon: Bright and spacious with excellent ventilation from large hatches and multiple portlights. Features a large dinette with hi-lo table (converts to a double berth) and a full settee opposite.

• Galley: U-shaped and well-equipped with a double stainless steel sink, DC-powered refrigerator, propane gimbaled stove/oven, and ample storage. Hot water provided by a 6-gallon heater and Hurricane hydronic heating system with three zones.

• Navigation Station: Dedicated chart table with LED GPS, radar, and sounder displays — also functions as an ideal shipboard office.

• Forward Cabin: Queen V-berth with ensuite head featuring a shower, sink, toilet, and linen locker.

• Aft Cabin: King-size berth with private head, drawers, standing room, and hanging lockers.

Designed for secure bluewater handling and comfort in all weather, Kapai’s deck and cockpit features include:

• Center cockpit with custom hardtop dodger – fully enclosed and secure

• Walkaround decks and large bow/stern platforms

• Custom sugar scoop swim platform for dinghy access and swimming

• Full complement of sails:

  • Triple reef main

  • ProFurl roller furling genoa

  • Stay sail

  • Spinnaker with sock

  • Storm jib

  • Whisker pole

• Electric and manual winches for anchor handling

• Stern-mounted dinghy davits and gas BBQ grill

Kapai is equipped for self-sufficient cruising with robust systems and redundancies:

• Engine: 85 HP Lehman Ford diesel with BorgWarner Velvet Drive transmission

• Fuel: Two tanks totaling 130 gallons

• Water: 130-gallon tank + 6-gallon heater

• Anchoring:

  • 33 lb Bruce with 400' HT chain + 100’ line (electric windlass)

  • 66 lb Bruce with 200’ chain + 200’ ¾” line (manual winch)

• Emergency systems: Diaphragm bilge pump, emergency tiller, and mechanical steering

Every system onboard is thoughtfully integrated for redundancy and ease of use:

• Diesel Generator: Yanmar APC 750 – 12V DC, 250A

• Inverter: DR Trace 1500W, 70A charger

• Navigation & Comms:

  • Hydraulic ComNav autopilot (integrated with GPS, wind, compass)

  • Furuno 24-mile radar

  • Dual LED GPS/Sounder units at chart table

  • Color sounder at helm

  • 2 VHF radios

  • Single Sideband / Ham radio

  • Dual wind speed indicators

• Power Systems:

  • 70A DC engine alternator w/ ramp voltage regulator

  • Custom radar arch with solar panels

  • 12V/110V galley refrigeration + built-in water-cooled freezer

• All electronics fully interfaced

• Hurricane diesel hydronic heating (3 zones)

• Propane wall heater

• Aquamet 22 stainless steel shaft & 4-blade propeller

• Brass opening portlights throughout

• Fiberglass decks with molded non-skid

• Recent bottom paint (2021)

• No reported hull blisters

If you’ve been searching for a spacious, classically styled offshore-capable cruiser with robust systems, proven design, and warm liveaboard charm, Kapai deserves your attention. With a reduced price and exceptional value, she’s ready to sail away on her next adventure.