While sailing on their honeymoon, Max blows up the boat, marooning them on a deserted island. While trying to stay alive on the island, they can't find any food, but they do find footprints. They track the footprints, but unfortunately they lead right to a hut inhabited by Siegfried and Shtarker. The island is an artificial island, built by KAOS and commanded by Siegfried. It contains a giant magnet that, despite what Max believes, will not be used to pull watches off of sailors of passing ships. Instead, it will pull the Sixth Fleet into the island, where an even bigger magnet beneath the island will pull ships to the ocean bottom.
The island is named Schwartz's Island after Sherwood Schwartz, the creator of Gilligan's Island because this show was shot on that set.