New Zealand mechanic Rudy Heeman spent more than 11 years of his spare time (and tens of thousands of dollars) building the hoverwing, a wing-in-ground-effect vehicle that flies on a cushion of pressurized air created between the wing and the water's surface. Hoverwing can reach an optimum height is 1.5m (4-5ft) above the water and has a current top speed of 98kmh (61mph).
http://www.stuff.co.nz/national/38653