The crew’s suspicions were aroused because the boatie was wearing a wetsuit hood masking his face, and claimed he could not remember his name.
They alerted police, whose inquiries revealed the vessel had been taken from a mooring near Paihia wharf on September 7.
The man was arrested as he was brought ashore about 6.40pm on Saturday.
Gorrie said the vessel had been holed, possibly by hitting rocks, and also had a damaged rudder.
The owner told him the $35,000 launch had just been refurbished, but was likely to be written off given the amount of water inside.
Gorrie said a kayak had been stolen from Paihia on the same day as the launch. It was believed it had been used to reach the vessel.
The alleged offender told him he had stayed onboard the boat overnight and travelled around the bay, visiting Nine Pin Rock and Ōpua Marina, before holing the vessel and calling Coastguard.
Gorrie commended Bay of Islands Coastguard volunteers for their efforts and managing to bring the damaged vessel to shore.
The latest incident was not related to an alleged boat theft ring operating in the Bay of Islands since early this year.
Three men had been arrested in relation to thefts of and from boats in Ōpua, Paihia and Russell.
Further charges
McKibbin also faced unrelated charges of stealing electronic items and a Samsung tablet in Paihia on September 6, and two charges of driving a car contrary to the conditions of an alcohol interlock licence, in Kerikeri on August 31 and Whangārei on August 17.
McKibbin, whose occupation was given as roofer, is due back in court by audio-visual link on September 26 when he is expected to apply for bail.