The students and Mr. Drako patch up the yacht with food from the galley and - with the arrival of Diogee - find out about a semi-centennial high-tide that could send them back to town. After Milo and his friends get the feral teachers back on board just in time for the tidal wave, they are brought back to Danville with the yacht winning a surfing competition via loophole. The prize was a check for enough money to fix the yacht with two dollars to spare.
For a full transcript of "Some Like it Yacht", click here.
Phineas and Ferb: While Diogee is remembering his journey from Danville to the island, Milo and the others wonder what he is seeing. This is a reference to Doof Dynasty where Perry does the same thing.
When the pelican flies onto the bridge, the window it goes through opens inward (which is by itself an error, forward windows always open outward) and closes again. In the next scene, the window is opened outward.
After the feral faculty chase Diogee back the boat, Diogee is suddenly missing and isn't seen again through the rest of the episode.