This song came out the year before I was born, 1988, by Enya, an Irish singer. It hit number 1 in many countries despite that it made many people cry because it’s open to interpretation and people keep applying it to things. Its YouTube comments compare it to the first time your newborn baby and you make eye-contact. I told you they keep applying it to things.
Regardless, I’m pretty sure it was created in fun/jest because of the references to her producers, etc. There’s numerous arguments over this online, including whether the song is actually about sailing or something else. I’m on the it’s a metaphor for something else and not about sailing boat. ‘Scuse the pun.
You can find out more about Enya on Last.FM.
There’s a funny Misheard lyrics video about it too which is worth checking out. The “say no wai” part made me laugh.