1986–1994 · designed by Bob Johnson · built by Island Packet Yachts
Bob Johnson-designed cutter-rigged cruising sailboat built in Largo, Florida around Island Packet's signature "Full Foil Keel" architecture: shoal draft, protected running gear, and a solid-fiberglass hull-and-keel structure intended for seakindly cruising rather than racing.
This is a general read on the Island Packet 38 class — informed
background, not a verdict on any individual boat. Condition, refit history,
and how a particular hull was sailed and stored matter far more than class
reputation. Use it to know what to look for; for a read on a specific
listing, run a free FairKeel report on that boat.
Full Foil Keel gives shoal-water access while preserving the protected prop-and-rudder layout central to Island Packet's cruising design.
Island Packet maintains active official owner-resource links to both Home Port and IPYOA, giving the class a strong support network.
Solid-fiberglass hull-and-keel construction, large glassed-in bulkheads, and heavy chainplate integration are documented in the factory manual.
Known trade-offs
Buried original chainplates make inspection intrusive and replacement expensive relative to externally mounted systems.
Older tankage can become a meaningful ownership cost: factory material documents holding-tank failure modes, and owners report IP38 fuel-tank replacement around.
The draft's original keel-hung framing was wrong for the IP38: the rudder is bearing-supported in the hull, so survey and repair reasoning must follow that architecture instead.
Age-related quirks to expect
Full Foil Keel — Island Packet's trademark integral shoal-draft keel form. NOT a fin-keel-with-stub architectureLowall (architectural)
Engine fit varied across the run: the 1988 owner's manual specifies a Yanmar 4JHE, while owner records show later IP38s with 4JH2E engines. Verify the installed engine by hull rather than assuming one standard engine across all yearsLowall
All IP38s predate Island Packet's circa-1997 switch to thicker welded chainplates, so original buried chainplates deserve explicit inspection / replacement-history reviewMediumall
The cutter rig adds a staysail stay and associated chainplate, and all original IP38 chainplates are of the older pre-1997 buried design. Confirm deck-exit sealing, inspection history, and whether chainplates have already been replaced; the keel-stepped mast also warrants mast-step and deck-partner inspection.
The factory manual says the rudder is carried by two bearings in the hull; the heel strap at the aft keel end is only a snag guard, not a load-bearing rudder support. Inspect bearing play, stock sealing, and heel-strap condition without treating this as a keel-hung rudder repair.
The manual specifies 157 gal of water tankage, 57 gal of fuel, and a 20 gal holding tank. IPY factory material documents holding-tank failure modes on older boats, and owner discussion puts an IP38 fuel-tank replacement around.
Confirm the actual installed Yanmar variant by hull, engine hours, cooling-system history, and shaft / cutless-bearing condition. The factory manual specifies a 4JHE, while owner records show at least some later IP38s with 4JH2E engines.
How it fits your plans
Offshore
Credible cruising platform with shoal draft, cutter rig, solid-fiberglass construction, and protected running gear. Keep the claim at "cruising capable" unless listing-specific evidence supports a stronger passage history.
Coastal
Sweet spot. Designed for it. ~4'6" draft gives access to ICW + Bahamas + Florida Keys that deeper-draft contemporaries cannot match.
Liveaboard
Strong. Large water capacity for the LOA, cutter-rig handling, and the brand's cruising-first layout support long-term use aboard.
Weekending
Overspecced but a forgiving platform.
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