1995 Island Packet 40

“DREAM CATCHER” is a well-equipped example of the highly regarded Island Packet 40’, owned and cared for by her current owners for approximately 20 years. During their ownership, she has cruised extensively throughout New England from Newport to Bar Harbor, as well as the Chesapeake Bay, Bahamas, and Florida Keys. Her long-term ownership is complemented by consistent maintenance and a long list of thoughtful upgrades made over the past decades. 

The Island Packet 40’s proven cutter-riggered platform, moderate draft, generous tankage, and comfortable two- stateroom interior make her particularly well suited for extended cruising.

Highlights Include:

• Versatile cutter rig with 2017 North Sails inventory including full batten mainsail on a Dutchman system, 130% genoa, and an enlarged staysail. Sails present exceptionally well due to light use since new. 

• Electrical architecture designed for extended time away from shore power, with a 430-watt solar array, recent Group 31 Lifeline batteries, dedicated starting battery, and upgraded Balmar 100 amp alternator

• Variable speed Sea Frost air/cooled refrigeration system with cavernous cold-storage capacity, oversized stainless steel holding plates, and an additional insulated cold-box storage

• Substantial ground tackle, Kato Davits and two full aft cockpit enclosures 

As an incentive to potential end-of-season buyers, the owners have secured and prepaid outside land storage at Safe Harbor New England Boatworks for the 2026–2027 offseason. Ancillary expenses associated with this will be the responsibility of the buyer.

Showings available by appointment. Please see details below for full specifications, or contact the listing broker for further information.

Designed by Island Packet founder and naval architect Bob Johnson, the Island Packet 40 was conceived as a serious cruising yacht with an emphasis on seaworthiness, strength, manageable sail handling, and comfortable passage-making. Her proportions combine to be a substantial 22,800 lb. displacement and 12’11” beam with a moderate 4' 8” draft, while the cutter rig divides the sail plan into easily managed areas for shorthanded cruising.

Central to the design is Island Packet’s distinctive Full Foil Keel®. Unlike a conventional externally bolted fin keel, the keel is molded as an integral part of the hull with approximately 10,000 lbs. of internally encapsulated ballast. Its foil-shaped profile is designed to provide lift while retaining the directional stability and sea-kindly characteristics associated with a long-keel cruising yacht. The configuration also provides substantial protection for the propeller and rudder and allows a relatively moderate draft for a yacht of this size.

Construction is equally substantial. The hull is molded in one piece using 100% hand-laid fiberglass with high-strength triaxial reinforcement, integrated with an engineered molded interior grid structure. With the ballast encapsulated within the keel structure, there are no external keel bolts associated with a conventional bolt-on keel.

The one-piece molded deck utilizes Island Packet’s PolyCore coring system and is joined to the integrally molded hull flange with mechanical fasteners, locknuts, and urethane adhesive/sealant. Deck hardware is through-bolted with aluminum backing plates for additional load distribution.

The deck is finished in Island Packet’s traditional Light Ivory gelcoat with contrasting molded diamond-pattern non-skid. The result is a purpose-built cruising platform whose hull form, protected appendages, substantial construction and cutter sail plan have helped establish the Island Packet 40 as one of the builder’s most recognizable offshore cruising designs.

Hull: Island Packet Light Ivory Gelcoat

Bootstripe: Hunter Green

Bottom: Black Anti-Fouling, Pettit Trinidad HD (2026)

• Hull bottom and rudder blasted/ re-barrier coated (2015)

• Molded FRP hull rub strake with S/S striker strip

• S/S deck cleats with associated chocks/ rubs strakes

• Large solid S/S bow and stern pulpits with double-through vinyl-coated lifelines, boarding gates in lifelines to port and starboard

• Maxwell S/S 2500 vertical electric windlass (2018)

• Custom windlass backing plate by Newport Shipyard 

• Windlass control from bow foot switches and helm

• Rocna 73lb. Primary anchor with 200’ of 5/16” galvanized chain

• Bruce 33lb. Secondary anchor with 150’ of 5/16” galvanized chain

• Dedicated seawater anchor washdown

• Dedicated fresh water washdown system at helm and cockpit

• Anchor snubbers

• (4) dorade vents

• (7) opening deck hatches - hatch lenses replaced (2016)

• Custom deck hatch covers in Sunbrella Forest Green

• (13) S/S opening ports 

• Teak cap, toe, and long cabin-top hand rails (varnished, 2025)

• Canvas in Sunbrella Forest Green: Dodger with large forward opening window, Strataglass dodger windows replaced (2022), Bimini and removable bimini connection. All canvas was inspected and repaired as necessary (2024)

• There are (2) full 360-degree cockpit enclosures: (1) clear-vinyl for underway in foul weather, and (1) textilene sun enclosure for shading during strong sun or protection in buggy environments 

• Custom S/S brace on underside of the bimini connection with LED lighting 

• Custom S&S Fabrics cockpit cushions with recently renewed thicker foam (2024)

• Custom varnished teak folding cockpit table (stripped and varnished, 2025)

• Zarcor cockpit drink holders

• Edson destroyer wheel - leather-rimmed

• Sunbrella wheel cover

• Edson Rack & Pinion steering

• Kato dinghy davits

• Edson S/S OB motor mount on aft pulpit 

• Dual 10LB propane tanks in dedicated cockpit locker

• Custom helm NavPod finished to complement Island Packet ivory gelcoat

• Custom S&S Fabrics textalene and Sunbrella cushions throughout cockpit

• Raymarine 9” e95 Charplotter, Radar Multifunction display 

• Raymarine 24” HD color radar dome - mast-mounted 

• Raymarine i50 speed and depth displays

• Raymarine i60 wind display

• Raymarine i70 multifunction instrument display

• Raymarine AIS 650

• Raymarine 125 GPS antenna 

• Raymarine Sirius XM receiver

• Raymarine E22158 SeaTalk converter

• Raymarine HS5 network switch

• Chart coverage from Eastern Canada through the Bahamas 

• DC accessory connection at helm 

• ICOM M506 VHF @ navigation station

• ICOM HM195 remote VHF microphone @ the helm 

• ICOM 772 handheld VHF 

• Mast-mounted loudspeaker/ automated foghorn controllable from helm or navigation station 

• Alpine stereo and speakers

• Viking RescYou 4-person offshore canister life raft (2015)

• Cabin-top life raft cradle

• Switlik MOM 8A rail-mounted man-overboard system (2020)

• ACR GlobalFix EPIRB mounted beneath helm

• Additional ACR GlobalFix Pro EPIRB in ditch bag

• Throw rope mounted at cockpit rail

• Assorted life jackets and safety tethers

• Fire extinguisher on engine room bulkhead

Custom Lighting:

• All of the lighting aboard S/V Dream Catcher has been upgraded

• Imtra Munich LED cabin and reading lights 

• S/S and glass fixtures 

• Infinite dimming

• Custom Imtra S/S overhead downlights

• Custom bulkhead dimmer controls 

• Remaining interior lighting converted to LED

Main Salon:

• 6’4” headroom

• (4) step removable companionway staircase

• Teak bulkheads, cabinetry, doors and handhelds

• High-gloss teak and holly cabin sole 

• Cedar-lined lockers 

• Main saloon cushions in cream suede (replaced, 2018)

• Large folding teak dinette table with legs creates dining for (4) adults easily

• Bookshelves with fiddles

• Longitudinal settee to port and L-shaped settee to starboard - storage beneath

• Matching internal mast cover

• Sliding blinds on all (13) S/S opening ports

• Weems & Plath classic barometer and clock

• Chart drawer beneath settee

• Aft-facing navigation station with desk

• USB charging ports at navigation station

• (2) spare Caframo fans

• Weems & Plath bronze yacht lamp

Galley:

• Molded non-skid flooring

• Dickinson S/S three-burner propane range with larger oven (2015)

• Cutting board top for range

• Plate, cup, and dry goods storage

• Black Vissani microwave (NEW, 2026)

• Twin deep S/S sinks with a high-neck faucet and dish sprayer

• Hot and cold pressurized water

• Whale manual freshwater pump

• Counter-mounted soap dispenser

• Sea Frost BDXP air/water cooled refrigeration systems 

• (2) Custom S/S evaporator/ golding plates - aprox 20” x 22”

• Sea Frost ETT-SC-AEO electronic thermostat with variable compressor speed control

• March 809S 12V brushless seawater refrigeration pump

• Refrigeration compartment upgraded with approximately 3”-5” of additional closed-cell insulation over the existing insulation

• Assorted cookware and tableware 

Forward Stateroom & Head:

• Enlarged custom foam mattress 

• Extensive teak cabinetry and trim

• Cedar-lined hanging/ storage lockers

• (3) drop-down lockers

• (6) drawers

• Fiddled teak storage shelf along berth

• Caframo three-speed fan

• En-suite head and shower 

• Sink faucet, soap dispenser and shower fixture replaced (2022)

• Raritan PHII manual toilet

Aft Stateroom & Head:

• Teak cabinetry doors and handholds 

• Cedarlined storage 

• Fiddled teak storage shelf 

• Camframo three-speed fan

• USB and 12V receptacles 

• Dedicated aft-head night light switch

• Sink faucet, soap dispenser, and shower fixture replaced (2022)

• Raritan PHII manual toilet

• Cutter rig 

• Isomat/ Charleston Spars aluminum keel-stepped mast 

• Approximately 55’ air draft 

• 1x19 S/S wire standing rigging

• Standing-rigging turnbuckles removed and re-chromed (2015)

• All chainplates rebedded (8/2026)

• (2) Schaefer roller furling drums for genoa and staysail

• Deck and mast attachment points for staysail boom (boom removed, ends saved in parts inventory)

• Dutchman mainsail flaking system, control lines renewed (2025)

• Sunbrella Forrest Green mainsail cover

• Main halyard replaced (2026)

• (4) Spinlock line clutches (serviced, 2024)

• Lewmar winches: (2) #48 ST primaries, (2) #30 ST secondaries, (2) #8, (1) #24

• All seven winches dismantled, serviced, and cleaned (2025)

SAIL INVENTORY:

• North Sails full-batten Coastal NorDac Mainsail (2017)

• North Sails 130% NorDac genoa (2017)

• North Sails enlarged NorDac staysail (2017)

• Fresh Water: 170 gallons 

• Fuel: 90 gallons

• Holding: 30 gallons 

• GE whole-boat freshwater filtration system at main pump/manifold 

• Atwood 10.5-gallon water heater (replaced, 2015)

• Dual deck washdown systems 

• Freshwater washdown connections at foredeck and cockpit

• Dedicated seawater anchor washdown at bow

• Hot and cold cockpit shower

• Two heads, each with shower

• Manual Raritan toilets

• Toilet pumps serviced (2026)

• Head plumbing fixtures upgraded (2018)

• Custom 30-gallon polyethylene holding tank manufactured by Wellington Plastics (2022)

• SCAD holding tank level monitor (2022)

• Jabscco 50890 macerator pump (2022)

• (2) auto-electric bilge pumps  

• Cockpit scupper hoses replaced (2022)

“DREAM CATCHER” has been configured with an emphasis on electrical self-sufficiency while cruising away from shore power. Three removable Solbian flexible solar panels are integrated into the dodger and bimini, providing 432 watts of total rated solar capacity. 

• 12V DC/ 120 AC electrical system 

• (4) Lifeline Group 31 house batteries - approximately 420 amp-hours in total (2021)

• Dedicated 100 Ah engine-start battery (2021)

• Balmar 100A alternator (2017)

• Balmar ARS5 programmable voltage regulator (2024)

• Spare Balmar ARS-5 regulator 

• Cruisair SXR 16,000 BTU air conditioning system with insulated ductwork serving interior spaces 

• LinkPro battery monitor 

• BlueSeas Dual Circuit Plus battery switch/combiner

• (3) Solbian 144W flexible solar panels - 432 watts total rated solar capacity

• Solar panels integrated into dodger/bimini with removable zipper installation 

• Blue Sky Solar Boost 300i charge controller

• Mastervolt ChargeMaster 30A shore-power battery charger (2025)

• (2) 30AMP shore-power connections

• 50’ 30AMP shore-power cord

• Shore-power Y-adapter

• 1995 Yanmar 4JH-2 series 50HP naturally aspirated diesel engine with approximately 8,865 engine hours 

• Seller’s recent (8/2026) oil analysis reports show that this Yanmar is in better condition at 8,865 hours than the fleet average of 3,324 hours in all wear categories. This report is available to serious potential buyers upon request.

• Four-sided engine accessibility 

• Engine room door-mounted electric fuel transfer/ priming pump

• Racor fuel/ water filter

• Bronze mixing elbow 

• Bronze raw-water strainer (2022)

• 3-blade bronze propeller (inspected and trued, 2022)

• Propeller shaft replaced (2022)

• Stuffing box replaced (2022)

• Cutlass bearing replaced (2022)

• Engine exhaust hose replaced (2022)

• Owner reports engine oil consumption of approximately one quart per 100 operating hours

• 2026 - End of Season Planned Engine Maintenance: Heat exchanger and mixing elbow removal, service, and cleaning. Fuel injector service. Injector nipples replacement as required. Valve adjustment and service. Valve seals replaced. Engine fluids and filters replaced.

An extensive inventory of vessel-specific spares and tools accompanies the boat's sale, including assorted replacement hardware, electrical components, hoses, stainless steel hose clamps, pumps, original alternator, starter, and belts, spare Balmar regulator, instrument transducers, spare halyards and running rigging, sanitation system components, filters, fluids, and specialized service tools. 

The owners have also maintained a comprehensive digital library of manuals covering many of the vessel's onboard systems and equipment. 

Exclusions: Selected hand tools, Highfield dinghy and outboard motor, framed picture in the master stateroom.