At approximately 1530 Central time, the float-equipped airplane was substantially damaged when it collided with a 17-foot powerboat during a water takeoff. The Commercial pilot and two passengers in the airplane were not injured; the boats sole occupant was fatally injured. Visual conditions prevailed. Initial witness statements indicate the powerboat emerged from a channel and crossed in front of the airplanes takeoff path. Witnesses observed that before completing the crossing, the boat executed a U-turn in front of the airplane. The pilot attempted to get the airplane airborne early avoid the watercraft. The airplanes floats struck the fiberglass boat; the airplane then nosed over into the water. The airplane sustained structural damage and was partly submerged.