Zac Sunderland, of SoCal, set out when he was 16 to sail around the world. He's almost finished and is now working his way up the Mexican coast. He should finish in the next few weeks, making him the youngest person to ever sail around the world solo.
This is a view of Intrepid, a 36' 1972 Islander that he bought for around $6,000 and fixed up with the help of his father.
Here's his blog and website.
Here's an ESPN article about him that's really good (longer).