I've been using Jatoba wood as a cheaper substitute for teak inside on our own boat. Google
it to learn the properties. Not a perfect teak subsitute, but nobody on the two boats I used it on notices the difference. Getting colour match can be an issue because Jatoba is so variable in colour and texture, so take the old piece when you go shopping
Any major hardwood supplier who does not carry teak or Jatboa will know who does. East Coast
Specialty Hardwoods in the Halifax
area is a great source for eastern Canada
, for example.
Teak is still the best wood for outdoors marine
exposure, I think, and worth the money
. I have woodworking tools, which helps when it comes to making replacement parts
for these older boats. If you don't have them, speciality shops will mill a replacement for you, if you can take in the old pieces.