Design and Provenance
Doug Peterson, the California designer behind the original Peterson 44 performance cruiser of 1976, drew the 46 as a deliberate improvement on that earlier hull. The result is a low-profile yacht with a graceful sheerline and uninterrupted hull lines at deck level, since the cockpit is not raised. Owners and reviewers alike note the more elegant sheer and the added space below compared with the 44. At 46 feet 3 inches overall with a 40-foot 10-inch waterline, a 13-foot 4-inch beam, and a 6-foot 8-inch draft, the boat carries 33,300 pounds of displacement against 11,330 pounds of lead ballast internally bonded with fiberglass. The sail-area-to-displacement ratio of 17.1 and ballast ratio near 34 percent place her firmly in the moderate-displacement cruiser class with a comfort ratio of 38.5 and a capsize screen of 1.7.
Construction
The hull and deck are hand-laminated, reinforced fiberglass, with the deck Airex-cored between glass layers and finished in teak or nonskid hand-laminated, reinforced fiberglass. Structural members are bonded to hull and deck in fiberglass, and the interior is built from teak veneer plywood and solid teak, with a teak-and-holly cabin sole. The skeg-hung rudder is a high-density foam blade on a stainless post. The KP46 is well built but carries plenty of teak and other rare woods both on deck and below, a defining material character that rewards fastidious maintenance. Recessed deck tracks and hardware preserve the clean hull lines and reduce snag points underfoot.
Rig and Handling
The boat is most often described as a cutter, though period summaries also list a masthead-sloop configuration as available. With 1,100 square feet of sail area on the cutter rig and a fin keel beneath a skeg-hung rudder, she is a bluewater cruiser whose safety inventory includes a cockpit bridgedeck and heavy lifelines. The deep 6-foot 8-inch draft gives her directional stability and sea-kindly manners but, as owners report, makes parts of the world harder to access for a cruiser intent on shallow anchorages and remote reefs.
Accommodations
Below, the center-cockpit layout places the master berth aft with a private head and shower, while a secondary companionway gives access to that aft cabin. The forward cabin holds a V-berth with storage, a hanging locker, and an opening hatch; the forward head sits to port with hot and cold water and a sump-pump shower. Amidships, a U-shaped dinette converts to a double and a starboard settee serves as a single, while the galley to port faces a chart table and locker. The engine sits farther forward near centerline with a workbench to port and a generator opposite, and the engine room under the cockpit sole is reached from the aft cabin or the cockpit and wears a sound-insulated enclosure. Four separate stainless tanks yield roughly 200 gallons of water, and a central gray-water holding tank avoids extra through-hulls. Headroom runs from about 6 feet 3 inches forward to 5 feet 9 inches aft.
Known Issues
Owners note that the secondary companionway hatch is prone to leaks, a fault worth tracing on any survey since it opens directly into the aft sleeping space. The rear lazarettes are impractically small, limiting stowage of shore power cables and warps, and the propane locker holds only two small cylinders, constraining galley autonomy on long passages without frequent resupply.
The Verdict
The Kelly Peterson 46 is a rare, thoughtfully evolved bluewater cutter with real teak warmth and a structurally integrated build, but her scarcity, deep draft, and a few owner-cited access and stowage shortcomings mean she suits the deliberate buyer more than the casual cruiser.
Pros
- Lengthened Peterson 44 hull with more elegant sheer and added below-deck space
- Hand-laminated glass construction with fiberglass-bonded structure and lead ballast
- Center-cockpit layout with two private cabins, two heads, and ~200 gal stainless water
- Bluewater safety features including skeg-hung rudder, bridgedeck, and heavy lifelines
Cons
- Secondary companionway hatch prone to leaks
- Rear lazarettes impractically small and propane locker limited to two small cylinders
- 6-foot 8-inch draft restricts access to shallow cruising grounds
- Only 30 built, so finding one and sourcing spares demands patience
