Gov. Mitt Romney's campaign toasted its top donors Wednesday aboard a 150-foot yacht flying the flag of the Cayman Islands.

The floating party, hosted by a Florida developer on his yacht "Cracker Bay," was one of a dozen exclusive events meant to nurture those who have raised more than $1 million for Romney's bid.

"I think it's ironic they do this aboard a yacht that doesn't even pay its taxes," said a woman who lives aboard a much smaller boat moored at the St. Petersburg Municipal Marina.

Romney's Cayman-based investments have come under fire during the campaign.