Align your paper so that the longer sides are vertical. First, fold the paper in half horizontally to make your initial valley fold, bringing the bottom edge to the top edge. Then, fold the two bottom corners up until their inner edges meet.
Turn the paper upside down so that the open edges are now at the bottom. Your paper should look like a triangle. Make another valley fold by folding the bottom edge of the paper up. Do this on both sides.
This step flattens the origami model. Pick up both bottom corners of the paper hat. Next, gently push each corner towards the middle until they meet and the origami model is flat again. Instead of a triangle, you will now have a diamond.
Turn the diamond so that the open edges are pointing down. Start with one side, and fold the bottom tip up until it aligns with the top tip. Do this on the other side. You will end up with a triangle again. Repeat steps 3 and 4 one more time.
Once you've repeated steps 3 and 4, you will end up with a diamond. Hold the diamond so that the middle slit is vertical. Take the two sides along the top tip with your fingers and gently pull them away from each other. Your boat is now complete. Flatten the bottom so that it's more stable on the water.