Call the company who built it and find out if the heat exchanger nipple is threaded in. If it is, as he said, you may be able to replace or reseal it. Also, as he said, if the water is coming from inside the nipple, then there is a hole in the heat exchanger coil. These are not generally replaceable, as far as I know, so you would need a new water heater.
You can buy fancy water heaters, but I have a Seaward that I got from Defender years ago, which still works fine, and is on its original heating element. I'm not sure I would buy anything more expensive than that, although I look at SuperStors and IsoTemps and think they are very well-designed.
Incidentally, once you fix the problem, you might think about hooking up the heat exchanger coil. Why more powerboats don't do this I have no idea. For essentially no cost after the hookup is done, you have hot water on the boat (VERY hot water!!!) any time the engines are running and warmed up. Typically only one engine is used, unless you have more than one hot water heater. Since the water is heated to engine coolant temp, a little bit of water that hot goes a long way. And you don't have to run the genset to have it. Trawlers and sailors usually have this, and I copied my installation from them. Works great.