I don't really know if this helps or not. IF I were to do it, and esp. if I was in central America, I'd replace it with ipe rather than teak. I think that's a *little* cheaper than doing it in N. America for example, but have a hard time believing actual teak + Labor would be cheaper in central america than it would in say; the Philippines or thailand where teak actually comes from. (and a lot closer to you, no?)
I have used ipea in many applications. It is a difficult wood to work with.
1. Very heavy, dense, doesn't even float
2. The saw dust is an irritant to lungs and skin
3. Will not take any finish except a light oil. Caulk will not adhere
4. Other than that is a very hard wood with a tight grain pretty wood that will grey, but power washing will clean it up pretty nice