Guys, don't rub it in, she's a couple of states away right now.
Stingray,
I wish I kept better records but I really flew on the project with my crazy schedule. It all depends on how much you already have. An overview:
Wood: depends on where you live: $30-$100
Plywood: 8' Sheet for $30, used about a 20" x 4' end of it
Fabric: 5 yards @ $9/yard
Urethane: $60, there are cheaper options but they take about a week, and I don't have that much time. Urethane is ultimately more durable.
Dye: $8
Epoxy: $60 of epoxy or so purchased at 2004 prices because I didn't want the marine store who bought out the little guys to rip me off. I finished it off, but I had already used a bunch on the other kayak
Seat, Spray skirt, Back Band Paddle: $350.... Less the spray skirt, they could all be home made much cheaper, I just don't have the time. Skirt and Paddle can be used in different boats. I will carve a proper Greenland paddle at some point, as soon as I have a chance.
Brass Screws: $9
SS hardware: $4
Watco Danish Oil: $13
500 yards of dacron line for $17, used under 20 yards.
Brushes don't count as tools since with epoxy and urethane, they're disposable: ~$7 for a big pack of disposable 1-2" brushes
Monel Staples (you could use more thread, it's actually recommended): $13
I actually spent way more than this because I also bought tools and such along the way, plus gas and all. Still, it's a LOT cheaper than a commercial boat with barely comparable performance. I came into the project worrying about money, but quickly ignored it as for the time I was putting in, money was really a non-issue. Counting the labor a first time builder, I may as well have spent several thousand dollars on a brand new boat.
Time: many, many hours. No idea what a good estimate would be. probably 80% of the actual time working on the kayak was in research and in making design decisions. If I built a second boat the same way it would take a tiny fraction of the time.
Tom Yost puts construction time at about 50-60 hours (I think?) for the frame. Skinning is then pretty quick, relatively speaking.