An annual sailboat race from Cape Cod to the island of Nantucket, taking place at the begginging of summer. It has become a weekend long event for the island, and is really nothing
more than an excuse to get wasted and walk
around town. It doesnt matter who wins the race, as long as all contstants and townsfolk have consumed copious amounts of alcohol. The word figawi supposedly comes from drunken sailors with the
New England accent landing on Nantucket and asking the question, "Where the fuck are we?"