Like the island resort made famous by the Beach Boys, the superyacht Kokomo, which was launched in Auckland yesterday, is all luxury.

The 52-metre, high-performance aluminium sloop, which was built by Auckland company Alloy Yachts, was bought by Australian businessman and property developer Lang Walker. Mr Walker was estimated last year to be worth A$1.16 billion ($1.4 billion).

Marketing director for Alloy Yachts Clive Bennett would not divulge how much the boat cost but said: "A boat of similar dimensions sold on the international market for about $50 million recently."

He said the boat was "the custom-built Rolls-Royce of superyachts".

The Kokomo took nearly two years to complete and was launched from the Whau River in Henderson into Waitemata Harbour yesterday.

The yacht has a beam of 10.2m, draws 4.9m and has a design displacement of 340 tonnes. It has a 1200hp engine, and on-board systems supported by two 80 kiloWatt generators.

It has a range of 5900 nautical miles (10,926km), travelling at 10 knots (19km/h).

A 63.4m carbon-fibre mast is to be installed today at the Westhaven marina. The rig includes a crow's-nest 30m above the deck.

Mr Bennett said Kokomo was designed to be at sea for extensive periods. It has spacious interiors and accommodation that could easily house 20 crew. There is a large saloon and formal dining area for up to 10 guests.

"It has the owner's suite and four guest suites all with their own private facilities and ensuites. This is the five-star equivalent of the best hotel rooms but on the sea," Mr Bennett said.

The boat also has state-of-the-art communications, with internet, global receiving and tracking systems. There are five touch-screen monitors located throughout the yacht to indicate system and alarm status.

The boat will undergo further tests to determine its sea-worthiness over the next few weeks before setting sail. It is understood the owner is going to next year's America's Cup regatta in Europe.