The Saturday crash took place on a three quarter-mile course (1.2 kilometer) at an annual speedboat race.
The flying boat still managed to cross the finish line and win the contest by registering a top speed of 200.1 mph (322 kph), Speedboat Magazine Publisher Ray Lee said.
Lee said the twin-hull Skater boat is designed to rise up and hydroplane across the surface of the water. Windy conditions and propeller adjustments called trims likely contributed to the boat taking flight, he said.
Lee says it's an inherently dangerous sport, through courses have been shortened from a previous length of 1 mile (1.6 kilometers) that produced speeds in excess of 240 mph (386 kph). Safety precautions include reinforced cockpits with underwater diving gear.
Freedom One Racing released a video saying its boat operators got out safely and that the vessel was now back on a trailer. The video showed extensive damage to the boat, including splintered fiberglass.
Representatives for Freedom One Racing did not immediately respond to email and phone messages. The team emphasizes fundraising for charity.
Steve Ticknor, president of the company that runs the event, said the boat was participating in a contest to see which vessel could race the course the fastest. He said divers were on hand and responded to the crash within 20 seconds.
He described the relief of seeing both people on board the boat pop open the hatch. “Oh my gosh, it’s just a miracle,” Ticknor said.