Yes, it does, honey. It means Saint Potato.
2 seconds sound clip from the Captain Ron movie soundboard.
You can hear this line at 00:07:51.755 in the Blu-ray version of the movie.
Quote context
[...]
- Honey, we can really use that money!
- Yeah.
- We can get out from under the second on the house, and pay off the credit card debt.
- Oh, this is great. How quick can we sell it?
- Well, there's, uh... There's one little catch.
- It's on this island, San Pomme de Terre. Doesn't that sound romantic?
- Now, it has to be brought to Miami if we want to sell it.
- Yes, it does, honey. It means Saint Potato.
- Katherine, it's not the point, really, okay?
- The point is, we can sail it ourselves.
- We don't know anything about sailing!
- Honey, I don't care if it has an engine or not. We don't know how to drive a boat!
[...]