KAILUA-KONA >> A Hawaii island man has been charged with stealing a 47-foot yacht valued at nearly a half-million dollars and wrecking it on a reef.

West Hawaii Today reports Richard Sherwood is charged with felony theft.

At a preliminary hearing Wednesday, Sherwood was bound over for arraignment.

Police say Sherwood on Sunday broke into The Corsaire in Honokohau Small Boat Harbor in Kailua-Kona, packed his guitar and luggage aboard and maneuvered the boat north

The vessel ran aground after about two or three miles on a reef off Kaloko-Honokohau National Historical Park

The vessel’s hull was breached and it’s been deemed a total loss.

Corsaire owner Laura Mascari says she and her husband used the yacht in their luxury sailing charter business.