The bike's top speed is about 10 mph, and riders will likely need every bit of that speed when going against strong winds and currents in the bay and on the ocean. Schiller says it takes about 30 minutes to bike across the bay -- about the time it takes to cross the Bay Bridge during rush hour. Although the bike might appeal to Bay Area commuters, Schiller expects the bike to be used primarily for recreation.

With an introductory price of $6,500, the Schiller X1's target buyers will likely be limited to cycling enthusiasts with deep pockets. Schiller also expects hotels to be interested in buying the bikes in order to lease them to guests. The company will offer an upgraded "Founder’s Edition" for $8,775, which will be wet-dipped in mirrored chrome to reflect the surrounding environment.

The company plans to roll out different products in the future, and perhaps a less expensive model.

"We have our eyes set on how to build the sport of water biking," Schiller said. "There will be future products down the road, and we're already thinking about how we can make this accessible to more people."

Judah Schiller's waterbike — Judah Schiller, inventor of Schiller X1 water bike, gives a demonstration at St Francis Yacht Club (Mark Andrew Boyer / KQED)

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