Joe McGrai (Hulk Hogan), a retired secret agent, travels to the tropical island of McCinsey. The island is named after an old master jeweler who buried his treasure there one hundred years before Joe's arrival. Walter Denkins (Robert Vaughn), Joe's former partner, discovers that Alanso Richter (Grace Jones), their old nemesis, has found out about the existing treasure. Since this would be the perfect time to apprehend Alanso, Walter tries to convince Joe to come out of retirement to help. Joe declines the offer until Alanso kidnaps Joe's friend, Billy (Todd Sheeler), sparking an action-packed hunt for Alanso, Billy, and McCinsey's treasure.