During a mishap at the airport Fred accidentally misplaces the suitcase with the diamonds and the crooks start chasing Lamont and him all over Hawaii, trying to get them back. Meanwhile, the cops close on in, but not before guns are drawn on Fred and Lamont as the crooks trap them on a boat.

Fred becomes smitten with a woman, Miss Wallace who comes to the Sanford residence looking for a place to stay at the Sanford Arms. Meanwhile, a thief has been spotted in the neighborhood and to get the reward money, Fred lets the cops set up a stakeout in his home. However, Fred is in for a shock since the thief has been in disguise as Miss Wallace.