A floating apartment. A residential yacht. A holiday home that travels the globe.

The World, a luxury liner, has many descriptions, but "cruise ship" is not one of them, said resident Jim Minarik.

"The only thing that's similar between the world and a cruise ship is they float on the water," he said. "If our ship was a cruise ship, there'd probably be 1,500 passengers. When we're really busy, we have between 200 and 300."  

The World has 167 privately owned apartments, ranging from 290-square-foot studios to 3,240-square-foot four-bedroom residences.

Minarik and his wife bought their apartment in 2020 with plans to spend one to two months a year on the ship. However, he said, they now spend up to half of the year on board.

"We just found we love so much about the community, the way of travel — it's very leisurely and comfortable," he said. "You're continuously seeing something new."

Minarik said the couple were so enamored by the onboard experience that they eventually bought a second, larger apartment on The World, keeping the first apartment for family and friends.

Life aboard the ship

Like many cruises, The World has multiple restaurants and bars, yoga classes and a gym, two pools, a medical center and round-the-clock room service.

But the similarities mainly end there. For starters, on this ship, the owners call many of the shots.

"It's a democratic society on board," said Residential Director Eddie Wong. "They vote on things like the itinerary, they vote for refurbishments on the ship," as well as its board of directors.

Itineraries change yearly, Wong said. The schedule for 2026 has been finalized, he said, and includes stops in Antarctica, French Polynesia and Easter Island, the latter of which he called "one of the most sought-after locations in the world."

The World docks in around 100 ports per year, stopping for two to five days, rather than a few hours, said Wong.

"We'll pull into a port, like the Amalfi Coast," said Minarik. "We stay for three or four days, so we may not even get off on the first day … we might just go off for dinner."

Several owners live on the ship full time, but most come and go as they please, he said.

After cruising from South America to South Africa, Minarik said, he and his wife disembarked in Cape Town and went on safari for two weeks, before heading home to Orange County, California. The friends they were traveling with caught back up with the ship, which by that time had moved up Africa's west coast, he said.

The residents of The World

Many owners are North American, said Wong. "But we have residents from around 20 different nationalities … we have a lot of Australians on board" too, he said.  

Minarik, the former CEO of a large consumer electronics business, said owners have all had some level of financial success.

"That's just a fact, but what's really interesting is everybody has a great story," he said.

Purchase prices for residences range from $2.4 million to $15 million — a figure which doesn't include quarterly maintenance fees, which can be around 10% of the purchase price annually.

Yet money is not a big topic aboard The World, Minarik said.

"There's definitely no keeping-up-with-the-Joneses because whether you're a multi-millionaire, there's plenty of billionaires," he said. "So what you talk about is your love of travel and the experiences."

He said one of his friends from the ship is an 82-year-old guy who gives "more money than I could even imagine" to charity. What do they talk about? "Diving," said Minarik.

Potential buyers are vetted, Wong said. In addition to financial and criminal checks, he said, buyers need two letters of recommendation from an existing resident.

Every year, about 10% of residences go up for sale, a company representative told CNBC Travel.

The average length of ownership is seven to eight years, Wong said. By that time, owners have seen most of the world several times over, he said. Others leave to be closer to specialized medical care or to spend more time with family.

Minarik agreed that the biggest downside of ship life is time spent away from his children and grandchildren. He said he and his wife plan their lives to balance their love for family and exploration.

Another drawback? Minarik said he can't bring his dogs on board.

But "if I was to come up with anything other than you can't have your pets and your family, I'd be making stuff up," he said.

Only ship of its kind?

Wong said that while other companies have tried, The World is still the only ship of its kind.

The MV Narrative, an upscale residential ship being built by a company called Storylines, has been hit by several delayed departures. Originally planned to set sail in 2024, it's now scheduled to start cruising in 2027. The ship is larger than The World, with plans for 500 rooms to accommodate around 1,000 people.  

Another residential ship, Life at Sea, was canceled in November 2023, the same month it was scheduled to first set sail. Some travelers had reportedly sold their businesses and homes before learning that the company behind the cruise, Miray Cruises, had canceled the three-year voyage after failing to secure a ship.